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J&S Homes cleans up housing market
Many things can be recycled, from aluminum cans to newspapers to a wide array of plastic items. But how does one recycle a house? J&S Homes LLC has the answer. Co-owned by the husband and wife team of Jodi and Steve Faulkner -- the company name is a product of the couple's respective first names -- J&S Homes has been in business since 2004. J&S Homes currently owns over 20 houses in the Bartlesville area as well as a trailer court in Dewey. The "recycling" aspect takes place when the business purchases an existing home, takes care of whatever repairs and cleanup are necessary, and then re-sells it. The transactions can be beneficial to all parties involved. With J&S in the business of buying houses, those wishing to sell quickly are given another option. On the other hand, those interesting in purchasing a home can go through J&S as well. "A lot of times, the American dream is the house with the picket fence," says Steve Faulkner. "But if you are going through a divorce or getting transferred, it can become an albatross. "The flip side is, once we get ownership, we can sell them outright or as a rent-to-own." And sometimes, the rent-to-own deals are beneficial to those who are looking to build -- or even re-build -- their credit rating. "It's nice to be able to help people who otherwise wouldn't be able to get into a house," says Steve. The Faulkners, who have been married for 18 years and have three children, began buying houses in 1993 while living in the southern Illinois town of Mount Vernon. Steve was working for Hardee's at the time as a district manager. During his time with Hardee's, from 1984 to 2001, he was responsible for anywhere from nine to 16 restaurants. Steve left Hardee's to accept a role as a franchise business consultant for Medicine Shoppe Pharmacy. His service area ranged over six states and included 36 stores. At the time he took the position, Medicine Shoppe's business leaders wanted him to relocate to the general service area, preferably somewhere close to the Tulsa International Airport. "We really liked Bartlesville and decided to settle here," says Steve. The couple liked the idea of going into business for themselves as well. Buying and re-selling real estate has always been something of a side project for them with over 20 properties under their belts in Illinois. After they purchased an apartment complex in 2004, the demands that it brought forced them into a decision. "My goal was to work toward getting out of Corporate America and be my own boss," says Steve. "I had been running businesses for other people and wanted to try it for myself." Steve then quit his job in 2005 to run the company full time. Their chief contractor is Duane Cummings. "He's been a contractor for about 50 years," Steve says of Cummings. "Working with him has been a great experience. He's taught me a lot about a lot of things." Duane's brother, Ronnie, works with the company now as well. Last year, the company added an office manager -- Jodi's mother, Janice Rogers. Tom and Janice Rogers recently moved to Bartlesville from Long Beach, Miss. J&S Homes was able to find them a house, which had originally been purchased as a future rent-to-own property. "We had been trying to persuade them to move closer to the grandkids," says Steve. The business currently buys one to two houses a month, but would like to expand to three to four monthly purchases. The company currently works through area banks but would also like to take on some private mortgage lenders in order to fuel its growth. When J&S Homes purchases a house, it will take care of any repairs or cleanup work that need to be done before putting it on the market. Usually, that will require painting or some landscape maintenance. Once the house is on the market, it can be bought outright or purchased as a rent-to-own, whereby part of the rent payments actually count toward the mortgage and the purchase of the home. The rent-to-own deals are beneficial to those with little or questionable credit who are looking to build their good name. A third party typically handles the mortgage payments, and once a good, steady line of credit is established, the prospective home owners will have an easier time of getting approved for their own mortgage. J&S Homes takes pride in the fact that it can make fair deals that often prove beneficial to all parties involved. "We really like to create what we like to call a 'win-win situation,'" says Steve. "I'm in this to make a profit, but it doesn't have to be in one transaction." Neighbors are often thrilled when J&S Homes purchases a house in their area. Usually that means a home that was in need of repair and cleanup will get it before being turned over to responsible buyers. "The neighbors are banging on the door and saying thank you," says Steve. "It's neat to get into that kind of situation." The motto for J&S Homes is simple: "We buy houses." The slogan is written on one of the company trucks that Steve uses while looking after existing properties and shopping for new ones. People in the area have come to know the truck as well as Steve, who along with Jodi is happy to be part of the Bartlesville community. "When we first came to the area and were looking for a place to live, we drove into Bartlesville," Steve recalls. "Jodi and I looked at each other, and said, 'Hmmm, we could live here.' In the nearly 6 years since then, Bartlesville has been very good to us." As well as their family enjoying being members of the community, J&S Homes has joined the Better Business Bureau and the Bartlesville Area Chamber of Commerce. Those looking for a place to live in the Bartlesville area -- or those looking to sell an existing house -- can call J&S Homes at 333-2688 or visit the main office at 807 SE Madison Ave. "We look at ourselves as house recyclers," says Steve. "And we don't just take a cookie-cutter approach to the business. We can be creative."
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