HITC CEO Boruff appears to fail at real estate too.
DF, in your post you mentioned that you did due diligence on HITC CEO Scott Boruff and his real estate dealings which you found to be “muddy”. This prompted me to do some due diligence on Boruff’s real estate ventures to get more of a picture on Boruff’s capabilities or lack of capabilities which in my opinion applies here. “Muddy”, although it has negative connotations, in my opinion is being nice. Through a simple google search I found the following:
#1- According to Zillow, HITC CEO Boruff bought the Villa Collina for his personal residence on 6/21/2011 for $9,500,000. It is considered the largest house in Tennessee. He in turn auctioned the house on 11/26/2016 for $6,375,000. This represents a loss of 32.9% on his investment to the tune of $3,125,000. Well at least Boruff was consistent when it came to losing money. In addition to overseeing the loss of hundreds of millions dollars as CEO and then Chairman of Miller Energy Resources (Well documented in my previously posts) he also demonstrated a knack for losing massive amounts of his own money when buying and selling his home. https://www.zillow.com/homes/for_sale/Knoxville-TN/house_type/186228165_zpid/25428_rid/5000000-_price/19941-_mp/globalrelevanceex_sort/36.378726,-83.504334,35.600927,-84.450532_rect/9_zm/
#2- Also from internet research it appears another home that HITC CEO Boruff owned was sold at a loss. According to Zillow the house at 810 Fairway Oaks Dr. in Knoxville was bought by Boruff on 11/22/2002 for $1,525,000. The home was then sold for $977,226 on 12/29/17. Chock up another victory for Boruff on the Real Estate front! LOL. This time he lost $547,774 and recorded another 30%+ loss. I am of the opinion it is quite odd that Boruff apparently held on to his 13,205 sq. ft. house in a swanky golf course community after he bought the Villa Collina, which articles say is the largest house in Tennessee, but then again the more research I do on Boruff the more my opinion is there is no apparent method to his madness and I am still searching for that ever elusive sign of success. https://www.zillow.com/homes/for_sale/Knoxville-TN/house_type/41700989_zpid/25428_rid/5000000-_price/19941-_mp/globalrelevanceex_sort/35.894606,-84.078468,35.891564,-84.082164_rect/17_zm/
#3- I found this reference to a commercial property venture of Boruff’s on the internet, “this is not Mr. Boruff’s first foray into property development in Alpharetta. He partnered with a Chicago developer there on Hamby Rd. LLC, at 3825 Hamby Rd in Alpharetta. It appears to have ended badly with a substantial judgement against Mr. Boruff.” From a google maps search of the property, it is on a prime corner, in booming Alpharetta Georgia and appears to be vacant. That in itself is odd and certainly could be more proof of a dispute but in full disclosure I cannot substantiate this information that I found on a online search. Perhaps someone else can do a deeper dive or has more information about this venture of Boruff’s.
Quick research on Brandt Enderle was in my opinion not pretty. But you decide what you think of Brandt Enderle. Google: Brandt Enderle Knoxville Tennessee. Read the articles. My opinion is “WOW” and not in a good way. I also found of interest the following additional link between Enderle and Boruff, “Echo Bistro and Wine Bar owner and chef Seth Simmerman is retiring and has sold the Kingston Pike establishment. A native of Ohio and a Navy veteran, Simmerman, 70, is ending decades of publicly preparing food for East Tennesseans. He came to Knoxville in the fall of 1980 to be chef at downtown's private Club LeConte. Simmerman said he has sold Echo to Knoxville businessmen Scott Boruff and Brant Enderle.” Ever heard the saying, “The company you keep says a lot about you.”?
I have seen enough doing simple research on HITC CEO Scott M. Boruff as a real estate mogul, LOL, to form an unfavorable opinion, but again I encourage all readers to decide on their own and do their own research. Again though, I am curious DF; what was the due diligence you mentioned on HITC CEO Boruff and real estate that prompted you to call it “muddy”? Please provide links to your research.
HITC STOCK HOLDERS BEWARE!
Based upon my research, it is my opinion that Mr. Boruff leaves a trail of destruction everywhere he goes, in business, in real estate, everywhere. I am also of the opinion the HITC story is not going to end well. But you decide. Read the links provided here and in my previous posts and do your own research.
As stated before, the more I peel this onion the more it stinks, in fact it is down right rancid. More soon.
HITC Stock Opinion: This is not going to end well. HARD SELL
The above stated assessments/viewpoints/opinions put forth throughout my posts are based upon details available to anyone and were discovered through simple research and are for informational purposes only. They are simply my opinions, not advice. I encourage you to consult a professional financial advisor and do your own independent due diligence, research and analysis when evaluating company leadership or considering investing or divesting in public companies. Whenever possible, I attempt to do my best to provide links or references from my research to provide you with insight into the details that I formed my opinions from, and also so that you can more easily initiate your own research and perform your own due diligence which I strongly encourage you to do.
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