Image by Wolfgang Eckert from Pixabay
“So then, what I'm trying to figure out is, how does the high school get into a condition such that you can just plaster somebody into a wall?”
16-year-old Tom Stepforth was working on a more serious extension of his news reporting about the local bully who literally got plastered into a wall (nose left uncovered so he could breathe) and was talking with his grandfather, 66-year-old Thomas Stepforth Sr.
“Well, run-down infrastructure where it should not be is a mystery all its own,” Mr. Stepforth said. “Let's take a drive so I can show you something that may help your reporting, grandson.”
Nine-year-old grandsons Vertran Stepforth and Milton Trent instantly popped up.
“Can we come?” they said.
“Come on,” the grandfather said, and they all got into Mr. Stepforth's car to go look at the properties their grandfather had recently bought.
“Hold on – Grayson loves to build – can he come?” Milton said.
“If he gets Col. Lee's permission, yes,” Mr. Stepforth said, and soon enough, six-year-old Grayson Ludlow came running from next door.
“Thank you, Milton, and Mr. Stepforth, sir!” he said. “I love looking at houses!”
“So, there's a thing about choosing investment property that most people don't think about,” Mr. Stepforth said as they drove down a block in nearby Smallwood, VA where he had bought a number of older houses. “As you know, I'm a billionaire, so, I could have bought up this entire block that the town wants revamped, but what you look for in a building is something called 'good bones,' and it has to do with the structure of the home from the foundation to the roof.”
Mr. Stepforth parked the car, and he and the boys went up into one of the yards of the houses Mr. Stepforth owned.
“Look around at the roofs and at the foundations,” he said. “You can tell the difference between houses that have good bones and those that have tired bones.”
The boys went around the yard and looked at the houses all around.
“I know you didn't buy any of those with problems in their foundations,” Tom said, “and I know some of those have that because the window frames are twisting.”
“And,” Grayson said as he held up a straight ruler made of Legos, “some of the roofs are sagging in the middle.”
The littlest boy let the older boys use his improvised tool, and then Milton asked, “How did you know to do that?”
“My great-grandfather used to be an architect, and so my grandfather showed me his tools on Sunday,” Grayson said.
“My father – your great-grandfather, Tom, Vertran, and Milton – built and renovated houses,” Mr. Stepforth said, “so he taught me. We all have builders in common, Grayson!”
“I knew I liked all y'all!” Grayson said.
“So then, my young gentlemen, we are looking at houses in terms of good investment, and once you have that eye, then you look at public buildings differently, too. Let's hit the road for Big Loft, VA, and go up to the high school now.”
“Wait, what – the high school has tired bones?” nine-year-old Vertran said when they had gotten out to look.
“Sho' nuff,” Milton said.
“The roof is sagging, just a little bit,” Grayson said, holding up his Lego ruler.
“This is ridiculous!” Tom said. “But look, Pop-Pop, you clearly have the money to fix this, and this didn't happen overnight.”
“You're right,” Mr. Stepforth said. “I could donate plenty of it. But this is a public property. Public property means the local government is the steward of the property for the public, so when I as an investor look at a public building with tired bones, I pass on donating for a simple reason.”
The four boys thought about this for a long moment.
“Wait a minute,” Vertran said. “When you buy a property, you determine how it gets fixed up. If you donate, other people get to make decisions on how they use the money.”
“Uh uh – no,” Grayson said. “I wouldn't have a sagging roof, and I'm six. Don't give these grown people more money.”
“More money,” Milton said. “What have they been doing with what they have?”
“Not much,” Tom said. “I get it, Pop-Pop – whoever makes decisions about the high school hasn't been keeping it up well, so a man like you wouldn't just give more money.”
“That's the answer to why a lot of rich people don't invest in public projects,” Mr. Stepforth said. “We don't always explain, but that's why. There's another element to this as well, my young reporter. Here's a question for you to discuss with your editor: how long has it been since this building was renovated, and what happened the year before?”
“Got it, Pop-Pop.”
“I just don't know any more,” Milton said. “I'mma be out here looking at everything for cracking foundations, sagging roofs, and twisting window frames.”
“Well, that's good practice for when you buy your first house, though,” Vertran said.
“And when do you that, just call me and I'll make sure to fix it up for you,” Grayson said.
“Anybody want to get fixed up some lunch?” Mr. Stepforth said.
“Oh, are we going by Cousin Sam's Sandwich Shack?” Tom said.
“You know it,” Mr. Stepforth said.
Samuel Stepforth was delighted to fix up his uncle and his young friends with sandwiches for the road, and his uncle handed him back some business plans.
“Expanding in a pandemic is a bold strategy, nephew, but you getting with Dubois on the Road as a partner is a smart move that just might work. I'll see to your funding this week.”
“I know why he did that,” Grayson said with a smile as he held up his straw from his lemonade. “It's an old building, but the roof is straight and the paint is new.”
“Yeah, Cousin Sam keeps his business up real well,” Milton said. “He pays Pop-Pop back with interest every time, on time.”
“What I'm getting from this is that you have to be ready to receive investment,” Vertran said, “and if you're running something for the public, and what you're running isn't ready, that's a problem.”
“That's the story,” Tom said. “Some of these towns are getting all kinds of partnership from Pop-Pop, and some of these important things are being run by people that clearly don't care to get blessed. I gotta find out why.”
