Family the root of Daley's success
CARLOS RICO, The Daily Transcript
It's not long after first meeting Jeff Daley that the conversation turns to his family and how spending time with loved ones is important.
So, it's no coincidence that after he got a taste of building homes and experiencing the financial side of the business, he started his own investment, custom home, ground-up commercial and multifamily construction company.
"Family is really important to me, so (being your own boss) allows time and freedom to be able to raise your kids, spend time with your wife and spend time with your family," said Daley, who started J.R. Daley Construction in 2005.
Daley's background in the construction and housing development industries comes from both his family and post-undergraduate career.
He started working for his grandfather's company, Daley Corp., at age 7 and continued off and on through college until he started his own company.
Daley developed his residential and development interests while attending California Western School of Law, which he attended after graduating from the University of Southern California with degrees in political science and business administration.
He first started J.R. Daley Construction so his company could self-perform all the residential developments his investment company, Southern California Investments, was bringing in. But then he noticed the housing market was starting to go sour in 2006, so he decided to expand J.R. Daley and construct other firm's development projects.
One such project, which he says was the springboard for subsequent projects, was a $25 million purchase and construction job that involves turning four residential lots into a 70,000-square-foot student housing project near San Diego State University.
"I have been working on that deal for about two years," said Daley, 35, who took over the project from another developer after they could no longer finance it.
Daley obtained his banking and lending experience from working at North American Mortgage Co., where he worked after graduating from USC until the end of 1998.
After receiving his law degree, Daley's interest in real estate grew and he returned to Daley Corp., which specializes in heavy highway construction and land development. At the family business, he was in charge of land sales and transactions. He managed more than $20 million worth of construction contracts.
In 2002, Daley was recruited by Premier Communities LLC to be the director of construction. His role involved acquiring properties, coordinating the conversion process, and transforming and developing more than 1,000 apartments into condos. He also was responsible for developing all project budgets, supervising and managing multiple projects and, ultimately, organizing the entire construction process.
During the last five years, Daley has purchased and sold more than $75 million worth of his own holdings in real estate while constructing over 1,000 apartment and condo units.
In 2009, Daley negotiated the purchase of a multi-million dollar, 700-acre rock quarry located near Brawley, Calif.
Other projects include the construction of several custom homes, including one for actor Richard Dreyfuss in Encinitas.
Daley attributes his success to his past experiences and always having a strong family unit. Having his father and grandfather in the construction industry didn't hurt, either.
"Growing up in a family of entrepreneurs, it's really all I've been exposed to," said the former USC football player.
"When I grew up, we did a ton of family trips together," the San Diego native said. "We were always doing stuff as a family. And I think being a successful entrepreneur really comes from having a great family."