Brandon Huffman is the president and CEO of Huffman & Co. in Little Rock
Huffman grew up in Dallas and Huffman attended the University of Texas from 1996-2000 on a golf scholarship while pursuing a sports management degree. He moved to Arkansas to work at his father-in-law’s business, Horton Drywall, and then started his own drywall company in 2005. He began doing general contracting work in 2011.
Huffman launched his property management business in 2014. Huffman Drywall has completed more than $80 million worth of contracts during the past 12 years; HuffJones Property Management manages more than 2,000 student housing beds and 350 market-rent units with another 750 units coming online within the next 18 months.
Huffman has developed and built properties valued at more than $200 million.
What is your favorite part of doing what you do?
I love the challenge of taking a piece of property and finding the highest and best use for it. I really enjoy situations where I can find ways to make something a reality when all the signs make it seem impossible.
When were you bitten by the building bug?
In 2011 after the slowdown in the economy, I wanted to find something that would produce long-term cash flow and equity in real estate projects. The downturn hit my drywall company just as it did the rest of the construction industry, and it opened my eyes to the fact that I should not simply rely on a single revenue stream. Instead, I needed to diversify and find other sources of income.
Your company has come a long way since opening in 2005. Could you give a brief overview of its evolution?
From 2005-11, I had a commercial drywall company working in Arkansas and surrounding states. Along with continuing our drywall operations, we started developing and building student housing projects at college campuses along with hotels and multifamily housing projects from 2011-17. Many of these projects are in Arkansas, but we’ve also been able to reach out to other states, such as Texas, Tennessee, Kansas and Florida.
On all of the projects we own, we act as our own general contractor. However, we have also found opportunities in acting as the general contractor for third parties, and that is becoming a larger part of what we do. In addition, we have a property management company that manages all of our student housing and multifamily projects. Currently, we have a backlog of almost $200 million, which will keep us busy over the next 24 months.
What are the biggest challenges confronting your company?
The labor shortage has definitely been the biggest challenge confronting our companies as we grow.
Who are your mentors, people who made a difference in your life?
My dad ingrained in me at an early age to become a business owner, and he has always been my biggest supporter. My father-in-law, Kevin Horton, has been my business mentor. I have been able to lean on him countless times for advice, and he has given me sound counsel.
What’s the best advice you ever received?
My dad always told me to tell the truth, have integrity and do what you say you are going to do. My father-in-law told me to save my money, and not only will it get me through hard times, it will give me numerous opportunities.
Mistakes are said to deliver some of the most meaningful lessons. What was your most important mistake that has helped shape your career?
I have had the opportunity to start many businesses over the years, and by far the most successful ones have been my core businesses: construction, real estate development and property management. When I have gone outside the box into things I did not know well, I got hurt the most. And from those lessons I have learned: Stay with what you know best.