Mr ‘Chase’ D. Fonteno began doing Real Estate investments when he was 17 in Houston, TX.
By the time he was 19 he was well known in Houston, TX as a multi-millionaire teenager – with in excess of $5mil in depressed real estate – losing it a few years later in the Texas real estate crash.
From 1991 through 1998 Mr ‘Chase’ D. Fonteno, a real estate investor – predominately in seriously distressed real estate, trained others for a fee on how to be a real estate investor with little cash. However – eventually Mr Fonteno determined that a small percentage of individuals had the drive to actually do what he was teaching. And therein, Mr Fonteno resolved to not teach for a fee ever again. He determined ‘someday’ he might teach again – but only if he teaches for ‘free’. And more… he would provide those he taught with office space, computer, and all the things necessary for an individual to be successful – splitting the profits with Mr Fonteno’s company.
Thereafter, in 1999, Mr ‘Chase’ D. Fonteno formed ‘Hilton Head Properties, Inc.’ as a Colorado corporation, but did not proceed with any business until 2004. The company was formed for the sole purpose of teaching others and sharing in profits of seriously distressed real estate. The following is a time line of the company’s growth.
Corporate Historical Timeline
‘Chase’ D. Fonteno defines company name and Business Plan to acquire distressed real estate and sell on owner financed notes - laid out.
1999 (Dec 1)
Chase incorporates Hilton Head Properties, Inc., shelf registration. Company not active yet.
2000 (Jan 30)
Chase updates business plan and researches for competitors.
2003 (Oct 21)
Chase Fonteno and Nathan Volk meet in Houston at the Magnolia Hotel to begin startup of the company. (link to these photos)
HHP trains its first 4 associates and moves into its first formal offices, 100 N. Central Expwy, Dallas, TX (link to these photos)
HHP reaches $1mil in gross assets
HHP closes the year out slightly shy of $2mil in gross assets, inclusive of over 100 mortgages and receives a commitment for $1.5mil investment by Calif investor.
N. Alex Bickley, Joe Hockaday, Bob Young and Damon Nelson join HHP’s Board, with Hockaday being the CFO and Young becoming the Controller, Bickley as Corp. Counsel and Nelson as Exec. VP. HHP grows to 5 cities and 40 associates significantly increasing the number of projects it is investing in.
HHP closes the year with over $3mil in true market value of gross assets and almost 200 mortgages
2006 and part of 2007
HHP’s prior growth loses some ground due to an outside investor attempting to gain control of company.
In an effort to increase liquidity, growth and acquisitions, HHP forms subsidiaries and outside companies including: Hilton Head Property Management and Hilton Head Accounting Services.
HHP, in an effort to further increase liquidity, began marketing Real Estate at auctions on eBay.
Also – they form HiltonHead Pathways (www.hiltonheadpathways.com) for investors to purchase properties and/or Trust Deeds, however this program is currently on active while it is being revised.
2010 – CURRENT
HHP has sized down its operations to spend time reviewing its internal controls, audit all its property records and determine the best path for growth considering the current market conditions.