Forty Under 40: Ron Drake
by January 1, 2006 12:00 am 340 views
Although Ron Drake has done backbreaking drywall work and now refurbishes older homes, he claims hes never had a real job.
Im pretty much an entrepreneur, he said.
Through his company, Drake buys houses in and around Siloam Springs, refurbishes them and then sells the properties for as much as $50,000 more than what they were worth originally.
But its not just about bottom-line profit, Drake said. One of DRCs refurbished houses increased the average price of surrounding homes by about $30,000 he said, helping the community and improving neighborhoods.
A California native, Drake moved to Siloam Springs in 1996 for a slower pace of life.
I think its the best kept secret in Northwest Arkansas, he said.
But slowing down doesnt mean stopping. In 2000, Drake sold his drywall company to start DRC Investments. In the last year, hes taken on new construction of about nine 2,400-SF homes and recently entered a partnership with George Faucette to renovate five 110-year-old downtown buildings, converting them into two-story townhomes.
The townhome move is the highlight of his career so far, he said. The investment ties into his long-term goal to own many downtown buildings and revitalize the area, Drake said.