Mr. Tim Fleet graduated from Culver Military Academy in 1977 and obtained a BBA from the University of Texas in 1980. The same year, he began working at his family-owned business, which was established in 1944. As supervisor of the home building division, Mr. Fleet directed the construction of over 900 homes. In 1991, Mr. Fleet left the family business and began purchasing assets from the Resolution Trust Corporation and FDIC. He purchased 32 assets from these entities over a six-year period. Since 1991, he has purchased or developed more than 130 real estate assets, consisting mostly of raw land, subdivisions, shopping centers, manufactured home communities, apartments and office buildings.