In yet another blow to Brandon Barber and friends, Harrison-based First Federal Bank has filed a petition for foreclosure against Dream Team Holdings LLC, a business venture made up of Michael Jordan, Magic Johnson, Larry Bird and Charles Barkley. Oops, wait a second. I confused four young, local entrepreneurs who have recently found themselves in over their heads for an actual dream team. Sorry.
This particular team, made up of Brandon Barber, Seth Kaffka, Seth Rains and John Russell Meeks borrowed $5.18 million in June 2005 against property along Township Rd. in Fayetteville and now it seems their mortgage is in default with an estimated $2.79 million due.
We’ve said it once and we’ll say it again…Brandon Barber is not having a good couple of years.
According to The Morning News, the street address for the property in question was not reported in the filing. Anyone wanna take a stab at this one?
[Via The Morning News]
July 18th, 2008 at 8:34 am
The only thing I could find on the tax website owned by any of them on Township is a 5713 sq. foot home in Candlewood subdivision, appraised at $1,249,500, but the property owners are Brandon and Keri Barber. That’s probably not it.
July 18th, 2008 at 12:21 pm
The Rican read an article about propoerty owners who take the credit hit and default on the loan versus try to sell the property for less than they paid for it. I wonder if that is what these shady f**kers are up to?
Conspiracy theorist Nisc
July 18th, 2008 at 12:25 pm
I assume the home in Candlewood is their personal home. It’s up for sale too at 2.6Mil. A bit over the top, much like his spending habits…
Check it: http://tinyurl.com/Bbarber
July 18th, 2008 at 6:10 pm
Brandon Barber peaked the day he married a Chambers daughter.
Same for Seth Kafka.
Fuckin’ schmucks.
I’m sure it was a lot of fun, at first.
July 20th, 2008 at 1:00 am
Hooray for a bunch of out-of-towners leaving a huge scar on Fayetteville and then exploding.
I hope I never meet Barber. We’d exchange cross words.
July 21st, 2008 at 2:16 pm
Can’t say that I was rooting for the success of the these guys, f***ing douches.
July 24th, 2008 at 2:56 pm
Brandon will land on his feet. I’ve known him for many years and will always be his cheerleader!
July 25th, 2008 at 9:50 am
huge friend:
Thats nice.
I can’t be as cheerleadery about Brandon Barber as you.
His actions in NWA have been downright irresponsible.
He and his buddies haven’t paid their dues and didn’t have a clue what the hell they were doing.
Arrogantly, and foolishly, they pressed on with these developments that NEVER made sense on paper. You can do that with monopoly money. In real life, there are consequences.
In the process, small businesses and contractors have been hurt financially because, apparently, Brandon Barber didn’t see paying bills for services rendered to be a necessary part of doing business “the Barber way”. How many friggin liens did they have on the Legacy Building alone? How many of these contractors who were paid, settled for a less-than-break-even payment?
These guys didn’t and don’t operate in a vaccuum. They have hurt many people on their little joy ride of real estate development.
Brandon Barber might want to consider going back and finishing that Social Studies degree, or whatever it is, because I doubt he will be riding the Chambers gravy train much longer.
As for landing on his feet, well, I don’t forsee Brandon being able to secure any kind of financing from anyone in this state for a few decades.
Perhaps John Ed Chambers finds humor in his family name being dragged through the papers every week. Perhaps not. I think maybe he’s gambled his last bit of reputation on these mooks.
Maybe Brandon will land “on his feet” literally as a drive-up window bank teller at Chambers Bank.
Thats much more his speed.
July 25th, 2008 at 1:02 pm
Totalbastard:
I think your name says it all.
July 25th, 2008 at 4:58 pm
huge friend:
As does yours. Get some objectivity.
August 2nd, 2008 at 3:39 pm
Well said totalbastard. These guys are shmucks, who have screwed over so many subcontractors etc. National Home Centers just sued Barber for $1 million for payments he hasn’t made for supplies, materials, etc. that they delivered to his various projects. Anybody who was aligned with or dependent on Barber has gotten a royal screwing. I suspect Barber’s Mini-Me, John Nock, will soon be in the papers with some of the same travails.