IRIDIUM DEVELOPMENT INC.
Tag Real Estate
Reoccurring Flood Damage
Home DIY
Flood Prevention 101
Here are some tips to keep water where it should be
Did you know that “INSANITY” is defined by doing the same thing over and over again and expecting different results?
Replace drywall, install new cabinets, moldings, flooring, furniture…wait for it….BOOM! the next storm surge (not hurricane) your home is damaged again. Be angry at those property owners who drove past your home and created a wave that gets your house wet. How dare they leave the house they own to get away or go the house they own to check damage. You have every right to be upset, you just replaced all of the damage created from the last flood and now your home is damaged again.
If your house flooded from a storm surge and you only replaced everything, you could be INSANE. You need different solutions to stop future water damage.
Where was water infiltration entry?
How high was the surge and water level outside and flood water inside?
What height (off the floor) are the entrance doors to the house?
Take this information and create a plan.
Most likely the height of the water level caused the damage. Raise all of your door entrances up as high as possible. Replace the space above your doors to installing that space below your doors. Add a landing outside to enter, and one inside if needed. Waterproof the lower elevation of your home, the entire perimeter. There are many waterproof membranes that can be applied as paint and will stop any water from entering. Besides being easy to apply, you can also paint over so it is not visible. Build the grade around your house up, add planting beds to buffer water and make sure you waterproof continuously behind and higher than the beds prior to creating the beds. Your garage, raise everything off the floor, be sure to waterproof the all of the walls 24″ up and to the concrete slab. Remove HVAC units, water heaters anything in the way and replace after applications are applied generously. Cover the entire concrete slab, be sure to raise the entrance door from the house to the garage to the max and add landing as needed.
Raise your exterior doors to create a buffer below. This work may be involved but if you do it once correctly you won’t have to do it again unless something huge came through. If your home has 8ft ceilings and you door sits on the floor of your home, you have these options:
Option 1 remove the lintel and replace with a laminated wood beam that is short in height and fat. Use the difference in height to raise the door with cement infill and waterproofing. A typical door is supporting 1 or 2 trusses so a 4″-5″ tall laminate beam is suffice.
Option 2 remove the lintel and open the ceiling up inside, install a flush header above the block walls and joist hanger the trusses into the beam for support. put your door to the ceiling line and add the space below with cement and waterproof to bottom of footing.
Option 3 open the ceiling, remove 2-4 trusses entirely, create a reverse gable roof and infill with framing. Raise your door 2ft and create an entrance outside and inside. Be certain to waterproof your exter to the bottom of your footing or at the least to the top of your footing well below your concrete floor elevation.
What is the cost? What is the amount of work involved? Slightly more than the work to replace what is damaged. So if you do this work while you are repairing your home the cost is nominal and you would not feel it. You would stop the stress worrying about flooding again, you would also increase your homes value. When you have a claim on your home it is noted and recorded. Your premiums and future owners premiums will be higher and it will be an issue later.
Recap, doing the same thing and expecting different results is Insane.
Give us a call we provide free estimates and we can help you. 561-597-0021
Saint Petersburg Florida
How is St. Petersburg Different?
Saint Petersburg has so much to offer that other Florida cities and towns are missing.
Yes there are white sand beaches with turquoise waters, amazing sunsets and sunrises across the bay. Yes there are tiki bars and live music almost everywhere along with outdoor seating. There are dog friendly bars and a dog martini bar, outdoor sports, concerts, so much to do all year long and everynight.
What you might not know is besides your beach town activities there are also choices for fine upscale dining, theater, museum, art and everything you would expect from a large city. What is missing in St. Petersburg can be found 20 minutes away in Tampa. Location, Location, Location.
Under Valued
With interest rates hopefully coming down, a cooling economy, Saint Petersburg continues to sell homes. The map above shows what single family homes sold in the last 7 and 90 days from today 12/12/23 (note this does not include condos or lot sales).
Downtown Vibe
You are always walking distance to numerous restaurants and nightlife, Straub Park with its ancient Banyan trees, the Pier, Central Ave, Beach Drive, plenty of hotels and parking. Scooter rentals, electric bike rentals, major league baseball, Dali Museum, Mahaffey Theater, Vinoy Golf Course, and all this just 20 minutes from beautiful white sandy beaches.
Unique to St. Petersburg is the upscale neighborhoods on Tampa Bay. Snell Isle, Old NorthEast, Shore Acres, and many others all within 2-3 minutes of downtown and still 20 minutes away from the beaches.
Naples has a vibrant downtown full of shops and restaurants and upscale neighborhoods with entry pricing in the mid $20M for new construction.
The other Gulf coast towns have exquisite beach front homes and neighborhoods but all lack a vibrant downtown with choices.
Saint Petersburg has more to offer than the other towns plus much more. You are 30 minutes from Tampa International Airport, 30 minutes from Raymond James Stadium for football and concerts, 2.25 hours from Naples and 3.5 hours from Miami. New homes in St. Petersburg start at $278K in south St. Petersburg and go up to $13M in Snell Isle. St. Petersburg has options for all and that is what makes it special. If you appreciate the laid back feel from being near the beach but also like to go out and have a great dinner with a nice bottle of wine, everything is available in St. Petersburg and that is why I feel it is undervalued today.
Not your Average Beach Town
New Home for Sale in Florida
Thinking of Moving?
Tired of the high taxes, crime, cold weather, and short summers?
Florida has 0% personal income tax.
5.5% corporate income tax.
6% state sales tax and max 2% local sales tax (Avge sales tax 7.02%)
$1.3-$1.5M New Home built 2023 in St. Petersburg annual property tax $3,500-$4,200 per yr.
Summer all year long!
20 minutes to white sandy beaches.
73 degree average Gulf water temps in November.
Lower cost of Living compared to the North East.
Shore Acres St. Petersburg FL
4 Bedroom 4.5 Bathroom Home
Chefs Kitchen
Spacious Rooms
4+ Car Garage
Elevated and Safe
Completion April 2024
New Homes, Additions, Renovations, Remodeling, St. Petersburg and Naples Florida.
561-597-0021 or info@iridiumdev.io
Real Estate Investments
Reits, Office, Retail, Multifamily, Crowdfunding
So many options what is the best return for the risk?
Really that decision is yours to make, everyone has a different level of risk capacity. Your investments should match where you are in life. If you’re comfortable, then your investments are safe with low risk low return. If you need to step on the gas your investments are gauged by high return and mitigated risk.
Investing in dirt is a sound way to maximize return and mitigate risk. Private Lenders, Private Equity etc. provide short term loans at higher interest rates for developers and builders. Many of these firms manage investments and we use them often. The interest is higher than a bank but money is easier to obtain and we use them only for short term construction type loans. Some banks today do not finance construction so we find this fits our needs.
Development
Teaming up with a developer is a great way to increase returns. We use investors as equity setting up our deals as a fair and equitable solution to investment risk/reward.
Our investors or our Limited Partners have ownership in our LLCs that own the land. Each LP has ownership that equals the investment made. Taxes are passed through the LLC and assessed individually. So unlike stock our LP’s own dirt alongside us. We do not use our LP money for anything other than the land cost. That equates to our operation overhead, management, etc fees are not part of our LP investments as typical for fund investing.
Transparency, every project is individually tracked, all payments, costs, etc. We share the full project financials with our LP. LP’s have access to our 24/7 portal and can view all payments, costs, changes, etc for the project they invested in.
Operation, every project we take on is extremely organized and planned out. Design, costs, sales, comps, everything is developed on paper, reviewed, and reviewed again. We submit for permits the day we close on the property. Our goal is to expedite the build and get the project finished and sold as soon as possible.
Returns, our typical returns for our LP is greater than 100% per yr. An example is our past project where our LP invested $300,000 and 11 months later at the closing received $325,170 plus the equity back. Some of our deals are larger and require upwards of $4.5M in capital and may include numerous LP investors. These returns can reward our LP’s 53% per yr for a 2 year term.
Exits, each of our projects require minimal capital to develop and offer large equity value at completion. Because we build quickly our assessment of the market and timing allows us the ability to plan a few exits. Our goal is always to build a quality product in a market space and price point that allows for a quick sale. Another exit would be to refi the finish product for the total cost including our equity LP investment. In this scenario the mortgage and operating costs would be significantly lower than rental rates. We would rent the home for short term leases, selling the home at a later stage and splitting the profit. Our larger projects are higher value allowing time to sit on the home until we reach the right buyer. This cost is built into the finance terms and equity return.
Disbursements, when we close on the sale of the property our lenders and LP’s are paid out first. The profit is split either LP/GP 70/30 or 50/50 depending on the project size, smaller size 50/50. Profit is paid at the closing and the LLC is closed after proper filings.
As you can see the returns are significant, the risk we mitigate with transparency. Corporate governance along with total transparency gives our investors the opportunity to maximize returns while protecting investment.
If you are interested in learning more contact us at:
info@iridiumdev.io
SW Florida RE Equity
Base Hits
Real Estate is very lucrative today 9/21/23 even with interest rates where they are.
The area where we develop has had 16 closings for new construction ($1.0M and up) in the past 90 days.
- Average days on market 100
- Average sold price$2,547,240
- Average list price $2,547,240
- 7 Sales were conventional mortgages
- 9 were cash
Average days on market include builders listing homes pre-construction
RE Equity
Using our experience in the market, our construction ability, we are able to obtain permits, construct, and close our houses around a six month timeline. Our competitors take over 18 months just to build. Our equity returns are typically in the 80% range in less than 12 month term.
We deliver excellence with speed. That has how we founded our business and how we are different than our competitors.
Our base hits score.
If you are interested please contact us
info@iridiumdev.io
Financing Your Real Estate Investments: Exploring Funding Options and Strategies
mortgage loans for investment properties, private funding options for real estate investments, creative financing strategies for investors
Financing your real estate investments can be a challenging task in today’s market. Traditional lending institutions, such as banks, have tightened their lending platforms and reduced the availability of mortgage loans for investment properties. This has made it more difficult for investors to secure the necessary funds.
However, there are alternative funding options that can help you overcome these challenges. Private funding options for real estate investments have become increasingly popular. These private lenders are willing to provide financing for investment properties, but it is important to exercise caution and be aware of potential predatory lenders.
In addition to private funding, investors can also explore creative financing strategies to fund their real estate ventures. These strategies include methods such as seller financing, lease options, and partnerships with other investors. By thinking outside the box and exploring these creative approaches, investors can find innovative ways to finance their projects.
While it may not be as easy as it once was to secure financing for real estate investments, there are still viable options available. By researching different funding avenues and being cautious of predatory lenders, investors can navigate the current market landscape and find the funding they need to pursue their real estate goals.
Analyzing Market Trends: How to Identify Promising Locations for Real Estate Investment
real estate market analysis, location analysis for real estate investment, identifying growth areas in the property market
When it comes to real estate investment, identifying promising locations is crucial for achieving a lucrative return. Market trends and location analysis play a pivotal role in determining the potential growth areas in the property market.
One key aspect to consider is the importance of “location, location, location.” The value of a property heavily relies on its proximity to amenities, transportation hubs, schools, and other essential facilities. Conducting thorough market research and analyzing demographic data can help identify areas that are experiencing growth and have high demand.
For investors looking for substantial returns, high-end spec homes hold great potential. These luxurious properties attract affluent buyers who are willing to pay a premium for exquisite finishes and design. Building in sync with the neighborhood’s aesthetic and architectural style is equally important as it enhances the overall appeal of the property.
By staying abreast of market trends and employing comprehensive location analysis techniques, investors can make informed decisions about where to invest their resources. This strategic approach ensures that real estate investments align with the ever-evolving demands of buyers and maximize profitability in an ever-competitive industry.
The Different Types of Real Estate Investments and Their Pros and Cons
The Different Types of Real Estate Investments and Their Pros and Cons
residential real estate, commercial real estate, rental properties, fix-and-flip properties, pros and cons of real estate investments
When it comes to real estate investments, there are various types that investors can consider. Two common options include residential and commercial real estate. Let’s delve into the pros and cons of residential real estate, as well as the specific advantages and disadvantages of rental properties, fix-and-flip properties, and high-end spec homes.
Rental properties offer a consistent monthly passive cash flow, making them an attractive option for investors seeking regular income. However, they also require ongoing maintenance and management responsibilities. Landlords must be prepared to handle tenant issues, property repairs, and vacancies.
On the other hand, fix-and-flip properties can be lucrative when the market is hot and located in high-demand areas. Investors purchase distressed properties at a lower price, renovate them, and sell for a profit. This strategy allows for quick returns but requires careful market analysis and skilled project management.
Lastly, high-end spec homes in prime locations often yield excellent returns (+35% y.o.y.) due to their desirability among affluent buyers. These luxury properties tend to hold their value well even during economic downturns. Nonetheless, investing in high-end spec homes requires substantial capital upfront and carries higher risks with higher rewards for the seasoned developer/investor.
In summary, while rental properties provide steady income streams with some maintenance commitments involved; fix-and-flip projects can yield quick profits but require careful planning; investing in high-end spec homes offers potential for substantial returns but involves higher financial commitments, typically $3.0-$5.0M. Ultimately, understanding the pros and cons of each type of real estate investment is crucial for making informed decisions that align with your investment goals.
Unlocking the Potential of Real Estate Investment: A Multi Page Comprehensive Guide
Introduction: Why Real Estate Investment is a Lucrative Opportunity
real estate investment, property investment, real estate market, real estate opportunities
Real estate investment has long been recognized as a lucrative opportunity for those who possess the knowledge and expertise in the field. Investing in properties that have room for improvement can lead to significant returns on investment. However, it is crucial to have a deep understanding of the real estate market and be aware of the potential opportunities that exist.
While waiting for a leveraged opportunity can certainly expedite the process, it is important to consider how many deals actually materialize. This is where teaming up with a developer can prove to be advantageous. By partnering with an experienced developer, investors can tap into their expertise and gain access to a wider range of real estate opportunities.
Investing in property requires careful analysis and due diligence. It is essential to assess factors such as location, market trends, potential for growth, and any possible risks involved. With the right approach and strategic partnerships, real estate investment can offer substantial financial rewards.
In conclusion, real estate investment presents an enticing opportunity when approached with knowledge and caution. By staying informed about the real estate market and exploring collaborative ventures with developers, investors can unlock the full potential of this lucrative sector.
The Different Types of Real Estate Investments and Their Pros and Cons
residential real estate, commercial real estate, rental properties, fix-and-flip properties, pros and cons of real estate investments
When it comes to real estate investments, there are various types that investors can consider. Two common options include residential and commercial real estate. Let’s delve into the pros and cons of residential real estate, as well as the specific advantages and disadvantages of rental properties, fix-and-flip properties, and high-end spec homes.
Rental properties offer a consistent monthly passive cash flow, making them an attractive option for investors seeking regular income. However, they also require ongoing maintenance and management responsibilities. Landlords must be prepared to handle tenant issues, property repairs, and vacancies.
On the other hand, fix-and-flip properties can be lucrative when the market is hot and located in high-demand areas. Investors purchase distressed properties at a lower price, renovate them, and sell for a profit. This strategy allows for quick returns but requires careful market analysis and skilled project management.
Lastly, high-end spec homes in prime locations often yield excellent returns (+35% y.o.y.) due to their desirability among affluent buyers. These luxury properties tend to hold their value well even during economic downturns. Nonetheless, investing in high-end spec homes requires substantial capital upfront and carries higher risks with higher rewards for the seasoned developer/investor.
In summary, while rental properties provide steady income streams with some maintenance commitments involved; fix-and-flip projects can yield quick profits but require careful planning; investing in high-end spec homes offers potential for substantial returns but involves higher financial commitments, typically $3.0-$5.0M. Ultimately, understanding the pros and cons of each type of real estate investment is crucial for making informed decisions that align with your investment goals.
Analyzing Market Trends: How to Identify Promising Locations for Real Estate Investment
real estate market analysis, location analysis for real estate investment, identifying growth areas in the property market
In the dynamic world of real estate investment, identifying promising locations is crucial for maximizing returns. As the saying goes, “location, location, location” remains the biggest criteria when it comes to successful investments. However, in order to truly capitalize on the potential of a property market, comprehensive market trend analysis and location analysis are essential.
Investing in high-end spec homes has proven to be a lucrative endeavor for many investors. These luxury properties offer substantial returns when built in strategic locations that attract affluent buyers. But how can one identify these growth areas and make informed decisions? This is where thorough market trend analysis and location evaluation come into play.
By analyzing market trends, investors can gain valuable insights into emerging growth areas within the property market. Identifying these areas allows investors to stay ahead of the curve and capitalize on future opportunities. Additionally, conducting a detailed location analysis helps determine whether a particular area aligns with investment goals and offers potential for long-term appreciation.
When it comes to high-end spec homes, building in harmony with the neighborhood is paramount. Understanding the local culture, architectural style preferences, and demographic profile of potential buyers are key factors that contribute to success in this niche market segment. Moreover, installing finest finishes and design elements further enhances the appeal of these luxury properties.
In this section, we will delve deeper into analyzing market trends and provide valuable insights on how to identify promising locations for real estate investment. By employing proven strategies and leveraging comprehensive data analysis techniques, investors can make informed decisions that yield profitable returns in an ever-evolving property market landscape.
Financing Your Real Estate Investments: Exploring Funding Options and Strategies
mortgage loans for investment properties, private funding options for real estate investments, creative financing strategies for investors
Financing your real estate investments can be a challenging task in today’s market. Traditional lending institutions, such as banks, have tightened their lending platforms and reduced the availability of mortgage loans for investment properties. This has made it more difficult for investors to secure the necessary funds.
However, there are alternative funding options that can help you overcome these challenges. Private funding options for real estate investments have become increasingly popular. These private lenders are willing to provide financing for investment properties, but it is important to exercise caution and be aware of potential predatory lenders.
In addition to private funding, investors can also explore creative financing strategies to fund their real estate ventures. These strategies include methods such as seller financing, lease options, and partnerships with other investors. By thinking outside the box and exploring these creative approaches, investors can find innovative ways to finance their projects.
While it may not be as easy as it once was to secure financing for real estate investments, there are still viable options available. By researching different funding avenues and being cautious of predatory lenders, investors can navigate the current market landscape and find the funding they need to pursue their real estate goals.
The Importance of Due Diligence: Conducting Thorough Research Before Making an Investment
Due diligence in real estate investments, property inspection checklist, legal considerations in real estate transactions Performing due diligence before investing in real estate is absolutely critical. You must conduct thorough research, utilize a property inspection checklist, and carefully consider all legal considerations related to the transaction. Failure to do so could result in significant financial losses.
Tax Benefits and Strategies for Real Estate Investors: Maximizing Returns through Smart Planning
tips on maximizing tax benefits from real estate investments , 1031 exchange , tax deductions for landlords
As a real estate investor, it is imperative to establish a comprehensive plan that maximizes your returns. One crucial aspect to consider is how to capitalize on the tax benefits that accompany real estate investments. The 1031 exchange is an indispensable tool for postponing taxes on property sales by reinvesting the proceeds into another property. Moreover, landlords can avail themselves of various tax deductions, so make sure to conduct thorough research and seize all available benefits.
Conclusion: Embrace the World of Real Estate Investment and Secure Your Financial Future
Real Estate Development
New Homes
Is speculative development lucrative today?
The answer is yes and it have always been when you follow the basics: buy at the right price, build what works in the area.
When you venture off this path you risk reward on your investment. A+ locations are worth the extra expense, building to a larger market instead of building to your own taste, design verse cost to build analysis. I have built numerous speculative homes, my first two significant homes were in a B-B+ locations and I learned my lesson.
The house above in the picture was built on 4 acres in a A+ location. I leveled the original house graded the entire property and located the new house in the center of the property. I built a 6ft tall stone wall along the road frontage and added entry gates.
Timing is key to success, something many developers do not take in consideration. Time is the enemy in speculative building. Interest on money borrowed costs more every day. Days on market hurt the appeal of the house, 260 days and the house begins to feel tainted.
I have built many houses rushing to complete the house for a certain buyers season. If spring is your strong buyer market then you want to be 100% finished before this time so you can flip your investment. taking your time and missing this timing can cost you another year of interest.
Everyone has their own business strategy, my strategy is the same as when I built the house above. Purchase land at $4.5M, construction/development cost $4.5M, build time 6 months from permit to C of O, sold in 2 weeks $18.5M.
My investors make money and I make money for the risk.
Smart purchases are where you make your money. Pay to much and you lose, pay to less in a lower level area and you lose. Find the area you can afford to play in and step on the gas.
For more information contact Iridium Development
561-597-0021
info@iridiumdev.io