From today's Bakersfield Californian:
Deal on tower project falls through
BY JENNY SHEARER, Californian staff writer
Negotiations ended Monday between would-be developer David Crisp and Cal State Bakersfield for a twin 24-story tower project on campus.
But Carl Cole, Crisp's former partner, had a different take. He said recent reports in The Californian about a rash of defaults on Crisp-related properties affected the deal.
"You guys have single-handedly had a big part in this. I have no comment for The Californian," Cole said Monday afternoon.
University spokesman Mike Stepanovich said newspaper reports had no bearing on the decision to end negotiations.
"It was strictly a business decision on the part of the president," he said.
Crisp did not return a phone call for comment Monday evening.
When Crisp was asked about the status of the towers project on Wednesday, he declined to comment.
Tuesday, July 03, 2007
Carl Cole lashes out at the newspaper after project fails
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53 comments:
That's right. Blame the newspaper. The fact you and your partner were overleveraged, over their heads, deadbeats had nothing to you why you got dropped. I'm sure the university would feel very comfortable of you having access to millions of dollars with tax liens, judgments, and other assorted defaults that have to be dealt with. Why did they ever turn you down?
"You guys have single-handedly had a big part in this. I have no comment for The Californian," Cole said Monday afternoon.
Sorry, Crispy, you didn't even get an honorable mention. (Keep up the good work! We appreciate it).
"You guys have single-handedly had a big part in this. I have no comment for The Californian," Cole said Monday afternoon.
The bastard. He knows who is responsible:
"Yeah and I'd have gotten away with it too if it weren't for those meddling bloggers!"
I've followed this blog for a while, but I'm not sure why it exists. This will be my first time posting. Hopefully, I will be able to clear some things up.
subsonic22: It wasn't the university's money so I really don't see what that has to do with anything. I know Mike denied other factors had anything to do with it. But I think we both can agree that that is not the case.
rob dawg: He knows who is responsible. I assure you "the bloggers" had nothing to do with it. And since I know who my grandfather was... I'm pretty sure Cole knows who his father was.
My question to this community is "have you ever even met Cole?" You seem to have some pretty solid opinions as to what you think happened.
Also, to deny there was a vendetta by the paper isn't accurate. Reporters have confirmed it to me that they were on the war path to burn Crisp at the stake (no pun intended). I don't know what precipitated that animosity, but I can only imagine it was the all the money being thrown around in a reckless fashion.
I would simply ask that you temper your judgement of things you have not experienced and people you do not know. There's always more than meets the eye going on.
And no... that isn't a plug for the Transformers movie.
Oh yes, Surge, you really cleared things up alright..LMAO.
Crisp is nothing short of an RE conman...period end of discussion. What is about the fraudulent nature of the RE transactions they were conducing that you don't seem to understand?
Why does this site exist? The same reason all of the other Housing Bubble Blog sites exist: To document the nonsense that has occured in the housing market and over the past several years. Specifically in California. These sites serve as a record...there will be not denying what happened or changing of history. Not this time....
I'd wager I have a fairly firm grasp on the situation... and I'm not here to defend Crisp.
I don't see how documenting things digitally is any more concrete than the physical documents that exist already.
So REALLY... what is this all about? Are people just pissed that some young kid was spending money like it was going out of style? I don't agree with it any more than you do.
But tell me, do you actually KNOW the people involved?
I was one of the early posters at the HBBlog back in the spring of 2005.
This like all the other blogs was a way to find out what the heck was going on with the real estate market. I wanted to start my own site to document what was going on locally as the national site (HBBlog) only has so much room to focus on individual markets.
The information that comes from local real estate sources (in all markets) is always spin to sell more real estate, instead of facts about what is really going on in the local market.
That said, these guys are a part of the run up and that is why I follow what is going on with them. They were the most flamboyant and flashy and brought the attention to themselves. Now that their "empire" is crumbling it is another chapter to this story.
Finally, I don't belive any media has any vendetta against these guys. I have spoken with many of them and none of them have ever stated that to me. I think they are also curious about this story as many locals are.
95% of the posts here and the ones I did at the HBBlog and the other sites have nothing to do with these guys.
They just been in the media a lot lately so the have appeared more frequently.
So are you trying censor me? This is a free country, is it not? 99% of my stories are cut and paste from news sources is there a crime in cutting and pasting and then allowing people to comment?
No one from the real estate community had a problem when things were running up? Now that the shit has hit the fan its time to shut up?
No one was more aware of what was happening with the bubble. It has cost me more than I care to discuss... and I'm not talking about money.
No, there is no doubt that that Crisp's flashy lifestyle didn't win him many friends. A matter I have discussed too many times.
It's important to remember that no matter how much glee you all might take out of this it's not just one spoiled kids empire that is crumbling. Lots of hard working families are going to be affected by this.
As I said, I'm not here to defend Crisp. However, seeing as it is unlikely that anyone has ever met my father or anyone in my family I think lumping us in is a travesty.
I've seen the books. I know what happened. I'm not happy. But keep in mind that news stories you read are never the whole story. After all there are papers to sell and sensationalism and documenting a fall from grace will certainly do that.
And a reporter, when asked "do you guys have a vendetta against Crisp?" had a very nice reply of "No... no... no... yes... no. yes."
And I cannot censor... only a government can do that. And personally I find that concept appalling. I do quite a bit of writing online myself.
No, cut and paste all you want. People can comment all they want. But do you expect me to not say anything when I know that my entire family is being characterized incorrectly about things we REALLY had no control over?
Surge-
Are you saying you are Alan Cole?
No, I'm not. But he shouldn't be brought into this at all because he (like myself) has stayed out of it.
Did you know Cole had two sons?
"But do you expect me to not say anything when I know that my entire family is being characterized incorrectly about things we REALLY had no control over?"
Then what is the real story? Who caused this mess? Was it all David?
Is your father 100% innocent? I heard all the stories and I don't work their, how could he not know?
Go to the media and tell them what really happened.
My dad tends to trust people too much. No, I can't go say what happened. There are... other issues which prevent it.
I would... trust me there's nothing like having all your money go to buy other people fancy cars while you still drive your Toyota pick-up. Nothing like everyone else taking trips to Vegas on your dime while you drive out to the fields every day to work. No, I'm not happy about what happened.
But sometimes you can get royally screwed and be able to do nothing about it. Perhaps someday I'll be able to be a bit more candid about things.
Now, if you'll excuse me, I have a pre-4th of July family BBQ to attend. You can well imagine the conversation will be... interesting, to say the least.
The reporters have a vendetta? I can't quite figure out why. Was Crisp and Cole part of the reason for the speculative bubble--sure. And are they now paying for it--absolutely. Seems like a good story to me. And, from what I can tell one of the reporters covering Crisp even appears to be new at the paper.
The fact anyone every thought the towers (2!) was ever a viable project is truely baffling part of the story. I guess csu decided they actually didn't want a boondoggle on their campus
Reporters have confirmed it to me that they were on the war path to burn Crisp at the stake
I'm willing to believe it, but Crisp's recent defaults are likely enough cause without blaming the press for reporting them.
Sorry that your family is damned by association, but perhaps Carl Cole should never have associated with Crisp in the first place. Anyone could see that Crisp was an arrogant twit soon to experience a reversal of fortune and take others down with him.
The reporters have a vendetta? I can't quite figure out why.
Why do tabloids sell? I can't figure out why Paris Hilton makes the news daily, yet there she is.
Was Crisp and Cole part of the reason for the speculative bubble--sure. And are they now paying for it--absolutely. Seems like a good story to me.
Good story, yes - once. Rehashing it week i, week out makes it appear that you have a grudge against someone - perhaps because they seemed... too successful?
And, from what I can tell one of the reporters covering Crisp even appears to be new at the paper.
What does that have to do with anything? Perhaps the 'vendetta' exists at a level above writer - perhaps, (gasp) editor? Managing Editor? Maybe those people assign articles to people - meybe even different people.
Long story short - blogs like this make things out to be soap operas - only there are real people hurt by these things. Greed may in fact have been involved, but that doesn't make everyone involved greedy. Victims about everywhere. And yes, republishing copyrighted data (copying and pasting articles) is, in fact, against the law, unless you have the permission of the writers to copy their works. 'Fair use' does not allow for copying of every article in a newspaper/TV stations website about a particular subject.
crispy,
never stop posting, it is not a copyright breech and to suggest it is--is ridiculous. sites like these make people more aware of their market, it warns them of the pitfalls of a free market place and guards more families than it hurts. Crispy, is noble and honest as it comes. I'm sorry about the collateral damage, seems like carl cole is a nice person. But we all have to be aware of wolves among us. How else can we combat a median home price of 300k on median household income of 40K+/-. Speculators have ruined this real estate market and I implore everyone who is sitting on the fence on purchase a home to refrain. median price of a home should be 100K. And in all of my investment books, they support the idea that no one should take out a mortgage that is 2x income in order to make it financially. How many people do you know recently that followed this rule of thumb? I think all perspective home buyers should boycott new homes untill prices are in line with income.
jamn1865-
Thanks for the legal opinion, I will make sure and wipe my ass with it.
You claim that this blogs hurt these guys? Give me a break. How many transactions was I involved in? LMAO.
Kill the messenger all you want. These guys took the credit on the way up and now want to blame everyone else on the way down. Good luck with.
This blog suppots the Bakersfield Califonina by giving a link to the published articles. Every hit is recorded and used to show potential advertisers how large the Califonian circuliation is. Now other advertisers who have viable economice base, not like Crisp&Cole who are just losers can advertise and have increased circulation of their advertisement. This very link has seven advertisments that I would not have seen if it was not for Bakersfield Bubble's excellent blog. I think I will go to Ringling Bros Circus, thank you very much, I would have missed it if it was not for this Blog.
Oh and don't forget to click on the Best Burger in Bakersfield. I know I will so I can stop by and have an informed decision about where to eat. Thanks again Bakersfield Bubble.
Quoting Surge: "It's important to remember that no matter how much glee you all might take out of this it's not just one spoiled kids empire that is crumbling. Lots of hard working families are going to be affected by this."
What about the other side of the market? What about the people who couldn't afford homes and who were priced out of the market? Where is your sympathy for the people who have an earnest desire to put their family in a home with a yard and take them out of an apartment but can't because irresponsible people were using other peoples money to inflate assets?
I have no sympathy for anyone who loses their shirt in this market. NONE. ZERO. ZIP. Because you have to be retard to honestly believe that assets can double in value over the weekend.
No sane person can rationalize that.
This is economics at its best. What we will see over the coming years will be a historic "wealth transer" from people like Surge to people like me. The saying has never been more true: "A fool and his money are soon parted."
Maybe people like Surge should have been more prudent in weighing the costs and benefits of taking such risks.
And to address: what is the purpose of this blog?
As I see it, one of its many purposes, is to offer an alternative opinion and analysis to the lack of analysis that was being circulated by the popular media.
A lot of people would have been saved a lot of money and heartache if they had visited this site more frequently.
A lot of people would have saved a lot of money if they had stopped and pondered what was going on?
Hmmm....How can home prices grow 20% per year while the median income grows 2% per year?
And to address: what is the purpose of this blog?
As I see it, one of its many purposes, is to offer an alternative opinion and analysis to the lack of analysis that was being circulated by the popular media.
He's copy/pasting directly from the popular media in Bakersfield then just agreeing with what they say. How exactly is that offering an alternative opinion?
Weak sauce.
antigone-
#1 some of the stories the local media gets are coming from this website with no credit to me.
Some of the national stories, especially all the lenders I was the first to report going under. In fact reporters from national news contacted me for information.
#2 where were you years ago when all the realtors were attacking the bubble bloggers for having a different opinion?
#3 look thorugh all my posts and you will see that what you have said is 100% false.
Antigone said: "He's copy/pasting directly from the popular media in Bakersfield then just agreeing with what they say. How exactly is that offering an alternative opinion?"
It's true that's he's copying and pasting the links, but the articles themselves have just been a way to start discussions.
You're obviously a new visitor to the site.
The postings are far more informational than the dribble that the Californian or other media outlets put out.
For example, there were 31 mechanics liens levied against homes owned or affiliated with Crisp and Cole before the Californian began publishing articles about their demise.
There are bloggers on this site who document and provide information from many non "mainstream" sources, including the daily report, which is Kern County's legal reporter. The daily report provides information on sales prices, number of loans, size of loan, lender, etc. Very informational stuff, which can be used to form thoughtful opinions.
For example, Wells Fargo is one of the biggest lenders in Bakersfield. And now it's probably the biggest owner of single family homes in Bakersfield.
Wells Fargo was foreclosing on homes and listing them at prices 10% less than their original loan amount. And all of this was happening during a period when the NAR and all other popular media outlets were still reporting year over year price increases.
All of this was on the daily report and all of this has been discussed on this site.
There are bloggers who write about the results of courthouse auctions.
And there are bloggers who document price listings and price reductions they are seeing on the MLS or in their own neighborhoods.
The information on this site is real time. Compare that to the Californian, which can't figure out which way the wind blows, unless the National Association of Realtors tells them.
Weak sauce?
Yes, your first answer was weak.
The second time you managed not to sound a four year old throwing stones at a window just to see if you could break it.
He said, "I've followed this blog for a while, but I'm not sure why it exists."
I've followed it, and many others, for a while now. I follow to help bring a more complete story to this real estate nonsense.
"Lots of hard working families are going to be affected by this." Most bloggers care about legitimate families, but those at the top, including the subprime lenders pushing their poison on these families, should burn in hell. It's not personal, but those that had a direct influence on this bubble need to be removed. I've said it many times and I'll say it again, the average american family CANNOT afford a $500K mortgage. SIMPLE! They were told otherwise by the real estate pimps.
In the big scheme of things, the Crisps and Coles of the world are probably just pawns of the large financial institutions, which had an appetite for mortgage-backed securities.
Bakersfield Bubble said...
Thanks for the legal opinion, I will make sure and wipe my ass with it.
What a biting response. I notice you don't really bother to respond to my comments regarding the 'vendetta' in the media.
But, please point out to me where you have the right to reprint the Californian's info - Here's the Terms of Use / Copyright info straight from their site. (emphasis added)
"Copyrights
The Bakersfield Californian retains full copyright ownership, rights and protection in all material contained on bakersfield.com (including all software, HTML code, Java applets, Active X controls and other code). Except as otherwise expressly provided in these Terms and Conditions, you may not copy, distribute, transmit, display, perform, reproduce, publish, license, rewrite, create derivative works from, transfer, or sell any material contained on the Web Site without the prior consent of the copyright owner. You agree not to modify any documents, graphics, images or other material found on this Web Site.
You may, however make single copies of materials displayed on the bakersfield.com Web Site for your own personal and noncommercial use only, provided any copies include the copyright and other notices displayed with the materials on the Web Site. You may not distribute such copies to others, whether or not for a charge or other consideration, without prior written permission from bakersfield.com or the copyright owner of the copied material.
None of the material contained on the bakersfield.com site may be reverse-engineered, disassembled, decompiled, transcribed, stored in a retrieval system, translated into any language or computer language, retransmitted in any form or by any means (electronic, mechanical, photoreproduction, recordation or otherwise), resold or redistributed without the prior written consent of bakersfield.com. All content of bakersfield.com is Copyright © 2006 The Bakersfield Californian.
All rights reserved."
All you have to do to be legal is provide a link to the source - but that would divert traffic from your page, which is poison to an attention whore.
Don't get mad because I'm calling you on it.
Positive Cash Flow:
Stop justifying law breaking. If BB was truly interested in sending traffic to TBC, a link would be provided, and nothing else.
I'm not new to this site, I'm just sick of hearing all the piling on.
These postings are not 'more informational' - they are 'more inflammatory'. Reporting the news isn't nearly as exciting as making it up. Lines like 'Looks like the unwinding of his real estate empire is almost over.', 'What a surprise, these real estate geninuses[sic] have now left defaults of over $24 million in their wake, burned out lawns, investigations into their lending company, investigations into their real estate company, IRS tax liens and word is more to come.' and 'So much for all those clowns who said prices would never go down.' - this is not 'reporting'. Also, reporters don't hide behind pseudonyms. If you are so proud of this work, why don't you claim it? Every newspaper article has the writer's name at the top. TV reporters have their name listed when they are on TV. Yet, I look at your 'complete profile', and see nothing about who you are, or how to contact you.
What would you do without having David Crisp to write/talk about? In the last 6 weeks, you have posted 30 stories. 10 of them involved Crisp and/or Cole. The next most often talked about person was Khamphou Siripane, with a whopping 2 mentions.
So go ahead and ignore everything I said here, call me an apologist, and keep going on with your elitist attitude. I'm sure it help you and your close circle of friends feel better about yourselves...
"All you have to do to be legal is provide a link to the source"
Find one post without a link back. They all have it.
LMAO.
jman-
Add all 245 posts here and the 500 others at all the other blogs over the last 2+ years and tell me what the stats are then.
I gain nothing from this site. Zero. I don't want any glory. I make good money doing my real job, this one pays $hit. Especially considering the amount of time I put in on it.
If you dont like it then dont come back.
jman-
Do you have a comment to make about the real estate market? If not then troll somewhere else.
Jman,
This site discusses the real estate bubble in bakersfield. David Crisp played a very public and active role in the market over the past few years. Of course we're going to talk about him. It's not out of spite. Any discussion of what has happened or will happen to real estate has to include Crisp.
Are there other people out there who have been perpetrating similar types of fraud? Sure there are.
Maybe those people deserve more blame than Crisp.
But regardless of whether Crisp is the first, second, or third biggest force in the market, he has been a force in the market.
Provide a link to the source without copying the entire article - then you would be in the clear.
Also, the 'Do you have a comment to make about the real estate market?' is laughable when I am replying to a 'story' that has nothing to do with the real estate market. The post before this was about the real estate market, yet this post was a hit piece on Carl Cole. Pot, meet kettle.
So here's my real estate comment:
I'm glad I sold my house in 2003, and bought my current house in 2004. Home prices may have run up a great deal but it is not one's constitutional right to be able to purchase a house. Just as some people could purchase property with loose change found between their proverbial couch cushions, some people will never be able to afford to own their residence. Doesn't seem to affect the majority of people living in cities like New York - which had a 30% owner occupation rate as of the 2000 census.
Renting a house/apartment doesn't automatically make someone a second class citizen. Property ownership isn't for everyone.
Wow... uh... you're welcome for the hits. I should probably say less than I have already.
Still, I just wanted to say that what you read may not be the entire story.
surge-
Then your dad needs to let people know what the truth is.
"Still, I just wanted to say that what you read may not be the entire story."
It may not be the whole story, but from a quick glimpse it looks pretty damning enough.
And this whole 'it's not my fault' is frankly quite the sign of a criminal. Go to any jail, and take a survey of all the prisioners.
Guess what percentage will state that they are innocent?
High, perhaps?
Your family needs to take responsibility for their part in this debacle, instead of cowardly attempting to play the victim card.
For God's sake, it only takes a little logic to realize that what was occurring was nothing short of crazy.
You are talking about Bakersfield. (I live in Sacramento)
As I have repeated in many blogs, the whole lure of the Central Valley was...LOW HOME PRICES...
And the prices were low for many reasons. But the area was plenty nice to live in, IF you could afford your house payment.
And your family, whether directly or indirectly, was responsible, out of plain greed, for causing untold stories of financial woe.
Shame on you all, specially how now you have the gall to start calling yourselves 'victims'.
It is disgusting.
I don't allow my children to do, much less others.
(Background: Married, 3 kids, own house with 30 year loan, $120K annual income)
The point of the blog?
39 comments, so far.
Amendment I
Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.
You guys have single-handedly had a big part in this. I have no comment for The Californian," Cole said Monday afternoon.
Carl Cole seems to think our Constitution is a joke. The Bakersfield Californian and this blog have only stated the truth, when Californian was printing how Cole and boy wonder were becoming real estate moguls they were not complaining then.
Maybe Cole should reflect on what this day means to all Americans and the Constitutional rights we share are sacred. He should recant and apolgize to the Bakersfield Californian for his false remarks.
With all the money Crisp&Cole had access to in this rising RE market, wouldn't the obvious thing to have done would have been to engage a PR firm from the git-go?
This would have, among other things, precluded the ridiculous braggadocio article in the Californian that really started the investigations and their subsequent downfall.
After all guys, this is BacoBits not Beverly Hills...........
With all the money Crisp&Cole had access to in this rising RE market, wouldn't the obvious thing to have done would have been to engage a PR firm from the git-go?
This would have, among other things, precluded the ridiculous braggadocio article in the Californian that really started the investigations and their subsequent downfall.
After all guys, this is BacoBits not Beverly Hills...........
El Stormo Perfecto:
Good handle! Describes perfectly what C&C did to an already tenuous market.
"Perfect" does not always mean good.........
I guess CC can take some satisfaction from the Californian's recent downsizing - ironically they say it is real estate related.
I've heard Cole has had some problems in the past.
Blamed others.
Always remember, you live by the sword, you die by the sword.
Perhaps Cole would never have even been able to make a living wage in RE had it not been for the brash young upstart whom he attached his carabiner to.
Carl, you and Crisp loved the media on the way up, now you castigate them on the way down.
Didn't you learn anything back East Carl?
I thinks David Crisp saw the writing on the wall before that ridiculous article about his body guards. It was a last ditch effort on publicity, "some or even bad especially in smart money's eyes is better than none." On my parent's street are two homes listed and crisp and cole. you would think with all the negative publicity the homeowners would recant and use another firm. These people also bought a little over a yr ago. Anecdotal proof that some people just don't read anything and these guys are indeed the bagholders. I do know of a doctor who bought recently without selling his million dollar home. Doctors are notoriously getting caught at the tail end of bubbles. I guess they are so preoccupied with their profession that what was true 10 yrs ago, they seem to think is still true today. rigidity is a killer
Friends or Foe
Very Simple
We all need each other
Just think over 4,000 listings
SOMETIMES IT TAKES TWO
FOR A ESCROW TO CLOSE
rrastronomo:
David was (is?) a nice guy. At least superficially.
He is just a naive kid who could have been a really good agent and possibly decent broker over time.
I think he became addicted to the Infomercials (become a multi-millionaire overnight by flipping!) and perpetrated what his ego drenched brain cells may not have even percieved as loan fraud (something that myriad others have thought about but "sobered up" prior to acting out).
If, as his "architect" said on TV this morning, he has a $25 mil bridging loan, then he bears watching for flight risk.
Interesting, aside from basis points and previously mentioned LIBOR, that his financier's co. has $900 mil in total paper and extended him $1.9 bil LOC isn't it?
Even Horace Mitchell can see the writing on the wall when its done in crayon!
rob dawg: He knows who is responsible. I assure you "the bloggers" had nothing to do with it. And since I know who my grandfather was... I'm pretty sure Cole knows who his father was.
Ahhh, young Cole. New to the ways of the Blog you are. Learn soon you shall.
Bastard is a pejorative not a lineage. Much like asshole is a pejorative not a description of a lower gastrointestinal muscle group.
The Californian is late to this party. C&Cs troubles started long before they even stopped being syncopatic lapdogs. You are a direct beneficiary of those unholy alliances.
Rather than dwell on the errors of your ancestors ask yourself instead about your own speculation; "Reporters have confirmed it to me that they were on the war path to burn Crisp at the stake (no pun intended). I don't know what precipitated that animosity..." Could it be those suspicions were caused by the bloggers you so cavalierly dismiss?
Thats "An" escrow there Pedro!
and its more like 5,000 now isn't it?
I'm done with the conversation, myself. Call me old school, but I don't like people talking shit about my family. I'll continue to follow the comments with interest, though, as I always have.
It probably was not wise to comment at all. I'll think about that before commenting in the future.
In the end... what's going to happen is going to happen. *shrug*
Surge said...
My dad tends to trust people too much. No, I can't go say what happened. There are... other issues which prevent it.
I would... trust me there's nothing like having all your money go to buy other people fancy cars while you still drive your Toyota pick-up. Nothing like everyone else taking trips to Vegas on your dime while you drive out to the fields every day to work. No, I'm not happy about what happened.
LOL! Carl Cole driving his sporty black Mercedes 2 seater is hardly a Toyota pick-up. Working in the field- is that the office? Or, are you referring to Daddy spending YOUR money on his employees while YOU are stuck with less things? I am confused.
P.S.- You dad seems like a nice guy, and very funny on the phone.
David Crisp's sin:
(Let me start by saying Crisp & Cole really impressed me. I was amazed by the success of Crisp especially, because he is my age. I wanted to be as successful as he was when I entered Real Estate.)
David Crisp found a successful way to do real estate. Honestly, he did. He was successful, he produced. He got listings, he made sales. His company had a presence about them. I was shocked to pull up his office (in the hayday) on the MLS and see his entire office had only around 95 listings! Crisp and Cole was in every RE magazine (some several pages), and had the BEST (hands down) RE show. The layout, the presentation, the format, the state of the art photography (instead of crappy still pictures like most of the other RE shows). And, it was on often (sometimes daily, sometimes 2x a day), and during times and on stations people actually watch (who wants to look at houses at 4:30 am Sunday morning on channel 137???). He rewarded his agents, he wanted a first class auora about the business. His website was first class, their pictures were all in unity (black suits, etc.), their logo was amazing. He did real estate GREAT.
However, he (apparently) got caught up with unethical ways of doing business. Also, he flaunted his success too much. WAAAAAAAAAY too much. Made him a big target. No one cares if Joe Blow realtor messes up, who knows him? Someone like David Crisp, where everyone knows about him- now that's fun, that'll sell papers! I remember hearing everyone attack David Crisp when I first started real estate. They hated his guts. I thought to myself, "they're just jealous. Crisp does more production in one month than many of these crybabies do in a year." Unfortunately, their tyrade proved correct. Now, Crisp & Cole is crashing down. H-A-R-D.
Honestly, most of the insults on here are probably just venting. I even poked fun with some of my comments. But, did anyone on here really wanted Crisp and Cole to fail? Crisp, maybe. Cole, maybe. But Crisp and Cole the company? No. How awesome to get into real estate, do a good job, and be successful enough to start your own company and establish a presence in your community like that? Any business owner would love that.
Just watch out: the power of greed can overwelm people, sometimes to the point that it is impossible to swim out. The suction is too powerful. How Crisp still purcahsed homes at the downturn of the market, almost seems like an addiction to gambling. "If I can get just a little more, I can pay my debt off and get myself out of this mess."
Wow, that was a long post. Sorry!
Ichabod:
Rent the movie "Boiler Room" with Ben Affleck and Vin Diesel.
Says it all.............
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