Wisdom Homes of America, Inc Retains JS Barkats PLLC for Manufactured Homes Development
TYLER, TX (MARKETWIRED) – May 27, 2015 – Wisdom Homes of America, Inc. (“Wisdom Homes” or the “Company’) (OTCQB: WOFA) provides homebuyers the opportunity to purchase quality, affordable manufactured homes from retail locations in Texas. The company announces its recently formed structure in anticipation of developing and selling manufactured homes on fully improved residential lots.
Wisdom Homes is accelerating its due diligence on 6 subdivisions totaling 185 platted lots throughout northern Texas. The Company’s goal is to open new retail centers near acquired subdivisions or large numbers of platted lots. This model provides the Company with the opportunity to generate revenue through both the retail customers and the sale of houses to affiliated subdivisions. “We’re taking a successful model, which is opening and operating manufactured home retail centers in Texas, and making it even better for the home buyer. By offering move-in-ready, quality, affordable homes we increase our revenues and decrease the length of time it takes for a home buyer to move it. In short, it saves the home buyer time and money, especially since they no longer need to obtain expensive construction financing,” stated Jim Pakulis, CEO of Wisdom Homes of America.
Sherman Countryside, LLC is a recently formed entity that will be completely owned by investors who are investing in purchasing and developing identified residential lots in Sherman, TX. This entity will purchase manufactured homes from Wisdom Homes of America to be placed on the residential lots. Wisdom Homes of America will then sell the land-home package to home buyers. The entity will be managed by Sherman Countryside Management, LLC, a recently formed entity managed by Jim Pakulis, the CEO of Wisdom Homes and Brent Nelms, the President of Wisdom Homes. The Company recently transferred to Sherman Countryside its Exclusive Right To Sell and Improve lots in the Sherman, Texas area in order to facilitate the capital raise for Sherman Countryside, and to begin selling manufactured houses as part of the land-home packages.
On May 11, 2015 The Wall Street Journal reported the Sherman-Denison metro area in Texas was the fastest growing region in U.S., with 33% growth in the first quarter of 2015. However, the article also cautioned about housing affordability concerns as a result of those rising prices. Wisdom Homes’ land-home packages through Sherman Countryside will help address that problem.
“We see the land-home package as an excellent complement to our retail office model. And there are tremendous real estate opportunities in key areas in the heartland right now. Once we get the Sherman development and sales under way, then our goal is to expand on the retail office, subdivision model,” stated Brent Nelms, President of Wisdom Homes of America.
The Company is also proudly announcing retaining the law firm of JS Barkats PLLC, a full-service law firm that is based in New York City and was found by Sunny J. Barkats. Mr. Barkats is a top 5% best Corporate Securities, Capital Markets attorney according to Thomson Reuters’ Subsidiary SuperLawyers® for 2014, and he was recently named one of the most enterprising attorneys by Smart CEO Magazine for 2015.
“Mr. Barkats has built a stellar reputation for achieving his clients’ goals. We believe his firm, JS Barkats, will be material in providing ongoing quality counsel, and just as importantly, assist us with executing our business plan as we begin to reach flexion points in our growth model. We’re honored to have the opportunity to work with Sunny Barkats and his team at JS Barkats,” stated Jim Pakulis, CEO of Wisdom Homes of America, Inc.
“Jim and the Wisdom Home team are in an industry that sold over $4 billion worth of new manufactured housing in 2014, and so far in 2015 there’s double digit growth. Combining that with billions of dollars of real estate and mortgage origination, makes Wisdom Homes a potential high growth, high revenue company over the next 5 years. We truly look forward to working side by side to assist Jim Pakulis and the company to help them reach their corporate goals,” stated Sunny Barkats.
The company looks forward to providing updates in the near future relating to our subdivision and residential lot expansion, as well as our retail operations.
About JSBarkats: JSBarkats, PLLC is a dynamic, full-service law firm headquartered in the heart of New York specializing in corporate, capital markets and securities law, immigration as well as litigation. JSBarkats principally represents both established and publicly-traded emerging-growth companies in a wide variety of industries, including healthcare and biotech. With its large team of attorneys located in New York and affiliated offices, the firm caters to investors, entrepreneurs and small cap companies structuring offerings and facilitating capital formation.
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