March 29, 2024

Northeast Florida Roundup

Real estate reversal in Northeast Florida

Lilly Rockwell | 1/31/2014

The Evolution of JWB

2006-07 — Alex Sifakis and Gregg Cohen start Progress Home Buyers. Adam Rigel is brought on as a co-owner.

2008 — The owners shift their focus to buying homes and renting them, using private lenders to finance purchases. Later that year, owners again change gears, selling their renovated properties to investors.

2010 — Progress starts a property management company to manage the rental properties it sells.

2012 — Owners rebrand as Jacksonville Wealth Builders and decide to build homes to rent and stop selling homes to investors.

2013 — Owners again change their name to JWB Real Estate Capital and continue a dual focus of building homes for rent and renovating existing homes. They offer property management, construction and realty services to the public and explore land development.

From left: President Alex Sifakis, CFO Adam Rigel and CEO Gregg Cohen. Sifakis and Cohen started the company in 2006.

PROFILE

Student Maid

What started as an endeavor to earn money for a $99 pair of Lucky brand jeans in 2008 has turned into a successful business for Kristen Hadeed, a University of Florida student at the time.

Because her parents refused to pay for the jeans, Hadeed went on Craigslist, advertising her services as a house cleaner. She eventually got enough work for her and several other students for the rest of the school year. By the summer of 2009, Hadeed had incorporated as Student Maid and had contracts with nine apartment complexes. She also started offering other services like dog walking. The Gainesville company only hires students — paying them from $9 to $11 an hour. Hadeed requires employees to have 3.5 GPA.

Student Maid now employs 400 during the peak summer season and recently opened an office in Pensacola. Hadeed attributes her success to hiring smart students and focusing on customer service.

Tags: Northeast, Real Estate

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