Empire builder has sage advice
Udo Jattke has been-there-done-that as a developer and is now sharing his expertise Late decision to drop drug-related charges
A FORMER multi-millionaire property developer who lost his fortune in the global financial crisis is now offering his expertise to those wanting to sell their properties.
Udo Jattke was once the state’s biggest home-builder and the sixth largest in the country before his businesses Glenwood Homes and Glencorp were placed in receivership in 2011 owing $30 million.
In an “extension” of the German immigrant’s tumultuous career, Mr Jattke has started work at the offices of RE/ MAX Cairns.
He said his track record in building 4000 houses and 1500 units in the Far North meant he had plenty of contacts in the market to call on.
“This is an extension of myself, I’ve got to run with it. I’m excited,” said Mr Jattke, who left school to start a carpentry apprenticeship.
“I’ve been in the industry for a long time, so my main mission is to help sellers achieve their goals with their homes.
“Being a carpenter and a builder and in sales and marketing, I can give advice on what people need to do to present their homes in the best way.
“You know what I’ll love though – I’ll love it when I get to say, ‘I built this house’. That will give me a buzz.”
Such is his passion for the industry, despite the downturn, Mr Jattke has kept busy mentoring young apprentices and championing the construction industry career path for school leavers.
He is also renovating two houses and said first home buyers could take advantage of conditions by picking up homes and land for less than what new land releases were selling for at the moment.
“You might have to do a little bit of work, but it’s a great buy,” he said.
RE/MAX principal Tony Williamson said he had recruited five agents in the last month to be ready for the uptake in business he said was imminent.
“As the market improves I want to be at the forefront and take advantage of the market conditions,” he said.
“Udo is back to what he was doing early on in his career. I am very particular about who I put on and Udo has a track record better than most Melbourne Cup horses.”
Mr Williamson said the market was primed for investors to take advantage of low interest rates, tight rental vacancy rates and relatively affordable homes in the Far North.
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CAIRNS Crown prosecutors have dropped charges against a man, just hours after a jury had been selected. Saichem Patrick Swain, 45, faced charges dating back to March 2013 – producing dangerous drugs, possessing dangerous drugs and two counts of possessing anything used in the commission of a crime.
A trial in Cairns District Court and was set to begin yesterday. After about a two-hour adjournment, the court heard the case would be discontinued.