IRIDIUM DEVELOPMENT INC.
Category improve sales in real estate
Collaboration
Florida Realtor Referrals
Custom Homes
We are currently in search of esteemed real estate agents to collaborate with. Our objective is to establish a long-lasting partnership with you, by providing excellent contracting services for your clients, thereby elevating your reputation to an envious level. With over four decades of experience in construction, constructing homes and apartment complexes for distinguished personalities, we are a valuable asset to your team and we do not operate out of the back of a truck.
It is said that the friends you keep are a reflection of yourself. That is why we pride ourselves on being the perfect choice for referrals. We are more than capable, professional, and honest. We also offer remodeling loans which cover the cost of home improvements. This can prove advantageous when a client wishes to sell their property at a better value. Furthermore, we realize the importance of determining what is valuable real estate and worth renovating. We provide our professional opinion regarding prudent investments and offer options, irrespective of whether we lose a project. Helping people make sound decisions is more important than adding another project to our year.
Remodeling-New Homes-Renovations
Our firm, unlike our counterparts, distinguishes itself in multiple ways. We take the utmost pride in our professionalism, politeness, intelligence, expertise, transparency, and fair prices. These values are discernible in every interaction we have with our clients. We comprehend the significance of knowledge and utilize it to provide efficient, time-effective resolutions that save our clients money.
Our quotations are credible, transparent and are bound by ethical standards. We maintain our commitment to our clients without any hidden charges or deceitful practices. We present thorough and specific breakdown of every item that makes up the project scope, along with corresponding costs that are shared with you and your client, and finally, our fee is added to the end, leaving no room for ambiguity.
Our business model is rooted in honesty, integrity, and impartiality, and we will continue to demonstrate this attitude in upholding our clients’ interests.
Our Referral Fee
We offer a referral fee to our network of agents, because we believe in economy of scale we reduce our fee and offer a portion to our realtors keeping our price competitive to the clients. We offer the fees based on the size and scope of the project but our network agents are always generously rewarded. If you have a client who is seeking a remodeling or renovation job or even considering updating a home to sell, please give us a call we look forward to working together.
561-597-0021
Home Equity
Create Equity and Wealth
Wealth Building
Challenging markets are when you seek ugly ducks in great neighborhoods. Renovate and create your equity and increase wealth.
Houses that have been on the market longer were overpriced and not as desirable. The location can be and at some point the seller will take reasonable offers or just remove the listing. These are the deals to seek out and create. Place an offer and see what happens.
Remodel
This home was flood damaged and the sellers want out. Remodeling this home regardless how cheap is not worth it because it can flood again. But you can raise the home for about $170,000 and create a sustainable environment and equity.
When you are looking to add money to improve a home you need to be able to sell the finished product for 2x+ or higher what your total costs are. We usually operate with 3x+ but we are also doing our own work.
Purchase is where you make the most gains. Know the market and what land costs are (reasonable costs). This helps you decide what your max purchase price will be. Know your improvement cost, this house at $300,000 and $170,000 in improvements = $470,000 total cost. The finished home elevated above FEMA floodplain will have lower insurance premiums saving a buyer $10,000+ every year. This home would sell easily finished at $940,000 in this neighborhood.
You created $470,000 in equity today. Many people will tell you that this is impossible, but it is possible. We do it and you can to.
Raise your Home
Spend money on sustainable remodeling. Elevating the home stops water damage from future flooding, it lowers your insurance rates by $10,000+ per year, the best thing is you just significantly increased your equity and wealth.
Contact Iridium Development and we can help you with raising your home.
info@iridiumdev.io
561-597-0021
Florida License #CGC1534948
Shore Acres Pop Up
Flood Damage Home Solution
Stop dealing with high flood insurance and damage. Raise the house and increase your home/property value.
No More Damage
We can use your existing footprint and build a new home on top of your block walls. We simply add columns and beams to support the new level.
New Second Story Home
This is a proven solution to ending extreme flood insurance premiums and also having to deal with water damage. Starting at $185,000 we can build an elevated home that would have a finished valuation of $950,000-$1,100,000.
Selective Demo
We do not go in and crush your home, we selectively demo your current home. Utilize the existing bones and build off by shoring up the existing frame. This saves you cost and time. Our process is complete for you in under 6 months.
We start with the layout of your existing home and rebuild that layout over the top of your concrete block walls. This is done by adding new columns and support beams.
If you have a Florida home in a flood zone, contact us for a free estimate and stop paying extreme flood insurance premiums. Protect your investment and increase your homes value. Repairing an existing flood prone home is equal to burning your cash. Raising your home increases your net worth.
info@iridiumdev.io
561-597-0021
How to Build a Spec House Part II
House Design
On How to Build a Spec House Part I we discussed the math behind selecting the property and sale price. Part II we will go over the house design and how to deliver a product better than your competitors.
When you know your targeted market and house size, now you need to design the home you are going to build. Many people think you can have a house design before you have a property in mind and that is not true.
Select the house to fit the lot, do not select any house for any lot. An example can be a rear downhill sloping lot, if you select a home that is deep without a basement then you need to build the grade up at the rear of the home to compensate for the lot slope. This can be extremely expensive and usually when you need fill it is not available. For a down sloping rear lot a home with a walkout lower level is best. Just like a home with one story fits a flat lot perfectly. An uphill lot fits a house with a garage under to cut the vertical angle of the driveway and so on. You need to select something that works with the contours of the land and not against them.
Finishes and design are dictated by the comps of your market space. The sales prices dictate what you have to spend and the room for your profit. Colonial style homes have minimal wasted space so the cost per foot is less than something with more angles. Sometimes a home with more angles elevates the design style and sales price so it may be the best fit for your comps. You want to provide a great flowing usable lay out. Family space along with work space as in the Kitchen. Have you ever tried to cook in a Kitchen where the range is sandwiched in a brick or tile alcove? They provided 6″ of counter for fire protection on each side, it looks nice but really is not suitable for cooking.
House Selection
Put yourself in the buyer’s shoes and make sure your design is family friendly. You also need to design something that works with the budget. Most colonial style homes use square or rectangle layouts that have usable space, some houses with curved rooms have wasted space that incurs cost to build. True Modern homes are minimal, many designers say they are cheaper to build. I have found that is not true, they are beautiful and I love them but typically there are flush beams that limit wires, HVAC, plumbing pipes causing higher install cost. Larger windows are also expensive and especially in hurricane prone areas.
Before going to far in design start working your math to make sure you do not over design or over spend on professional fees for a house that blows your budget.
You have to Give to Get
If you build it do they come? That is only in the movies, you need to give to get and finishes are where the give is. Fancy paint colors, design fads, these are items to stay away. Working in the Northeast you see design styles earlier than you see on the west coast or southern states. Black windows for instance or waterfall countertops have been around since the early 2000s and we are 10+ years past that design style, black windows work in a modern design home or in a metal frame older style window. Modern Farmhouse… OMG Stay away!
You need a design most people will love, not to heavy and not skimpy. Design style, colors, textures that a majority of people will like. They can customize somethings after the purchase but you want to stay middle so most will be happy with your choices. Busy moldings, weird wood on walls, crazy paint color to create a feature wall, save those designs for your own house. Keep your spec house clean with room to add. Saving money is great and you need to, but keep in mind what your sale price is. Maybe a $1.10 sf floor is not going to look great in a $1.6M home. Same for a $8.50 sf floor in a $300K home. You have to find balance and you should one up your competitors in your price point but just do not over or under do it.
More to come: info@iridiumdev.io
How to Build a Spec House Part I
Location Location Location
Yes it is all about location, great schools are very important, a street that is not busy, walkable area, low crime neighborhood, everything you would care about when selecting a place to live for yourself.
Now here is what you might not know about selecting the property. Ideally you want a lot that will allow the house to sit slightly uphill from the street. Not on a mountain, just an upward crown an elevation difference of 2ft depending on lot size and house location.
Next you want an open lot or one that you can open up. Clear out brush and dying trees. If there is a tree worth saving make sure it is not dying by having an arborist look at it.
Triangle lots are tough and usually not worth the trouble, corner lots are the same. Corner lots are viewed as having two front yards and the setbacks from the street in front typically are the same for the side street greatly reducing your build footprint.
Neighbors, you definitely do not want to build a spec house near the neighborhood hoarder or front yard mechanic. No fence will hide what you see on your first and every approach to your new home. You also want to get along with your new neighbors when you purchase your property.
Price, this is mathematics not feelings. Before you start looking for property you need to know a few things first.
What price are you looking to sell your new house at?
What are the comps for the targeted market? Bedroom, Baths, house sft, lot size?
What is the cost you can build at per foot to deliver the same type home in that space?
How big is the market space and how many days on market to sell?
Then select the area you want to build based on the local comps.
New homes sell for more than older homes per house size, bedroom count, and land size. Waterviews and waterfront increase the sales price as do pools and other features. Sometimes they are worth adding and sometimes not, the math will tell you.
Having completed your homework you can then decide on the price for the land. Your ceiling is set by the comps, you need to deduct the cost to build with the features the other comps have, then the land price, closing fees, and have enough profit to be worth the effort.
