Louisiana Facility Site Visit - Day 2 of 3 Update:
Today was all about meeting and getting to know the current BOTG and getting contractors' insights on the condition of the roofs and building structures. The most helpful parts of the day were learning from 2 roofers (who both also did general construction) about the condition of the buildings and roofs, and getting open and honest feedback from Judy (the current boots-on-the-ground) and her husband who live onsite about how things are run. Roofers / General Contractors: I had two roofers who are also general contractors come by to inspect the roofs. Rookie mistake on my endātheir arrival times overlapped, which made it obvious they were bidding against each other. Thankfully, they were cool about it. After chatting with each other, one of them actually backed out of the bid because he liked the other's idea of coating the roof instead of replacing it. He doesn't do coatings, but the other guy does, so Iām moving forward with a quote from the one who does coatings. Heāll give me an itemized quote this week, but they both seemed really concerned about the condition of the roof. Property Condition: This place is in rough shape. Ricky, the current owner, runs it on an āif it aināt broke, donāt fix itāand if it is, fix it as cheaply as possible, even if itās not the recommended way to fix itā approach. Rickyās go-to handyman does things as cheaply as possible because thatās what Ricky tells him to do, even knowing itās not the best way to resolve the issues for the long term. There's certainly no preventative maintenance being done. Feedback from Judy (BOTG) and her husband: I spent about an hour with Judy and her husbandāthey were super candid and couldāve talked for hours. Judy seems great at her job, well-liked by customers, and seems to genuinely care. But sheās frustrated. Ricky ignores her repair requests so often that sheās stopped reporting issues altogether. Hereās what they shared: - Thereās been little to no capital invested in the business over the 24 years heās owned it, and now all that deferred maintenance is catching up and likely expensive, major repairs are overdue.Ā