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A lot of great stuff in the latest filing. Besides being profitable, having more stockholder's equity than market cap, and only a 1m float it looks like they are only going to get stronger.
PLAN OF OPERATION
Overview
Building on a history of over 2,000 new homes built and over 400 elevation/renovation/addition projects since 1993, the management of Dream Homes & Development Corporation has positioned the company to emerge as a rapidly growing regional developer of new single and multi-family subdivisions as well as a leader in coastal new home and modular construction, elevation, Build to Lease and Improved Lots for Sale.
In addition to the coastal construction market, Dream Homes continues to pursue opportunities in new single and multi-family home construction, with 5 developments totaling 367 units in title, or under contract and in development. Dream Homes’ operations include the development and sale of residential communities, construction of single-family and multi-family homes, Build to Lease and the development and improvement of Finished Lots for Sale to national builders.
New trends in the real estate market that the Company is actively exploring include Build To Lease properties, as well as developing and improving building lots and developments to sell finished lots to national home builders. This focus and concentration on building both single and multi-family developments with the intention to lease or sell them immediately upon completion is being made in response to several factors. One factor is the extreme shortage of rental properties on the market, not only for first time homemakers, but for retirees, and young professionals who are unclear as to the intentions of settling in one location. The second factor is the overall lender and funding source preference to lend to Build To Lease and Improved Lots for sale developments, due to the perception that these 2 avenues are a safer investment over the long term. Finally, the extraordinary amount of interest from non-traditional sources such as pension and hedge funds, insurance companies and venture capital firms to purchase completed new For Lease developments at attractive metrics, as well as the virtually unlimited demand for improved lots from national builders has spurred a large growth in these market segments.
The Company has made the decision to change focus to better accommodate these growing trends. Currently 2 new multi-family developments, which represent a total count of 79 units (of the 367 total units in title or under contract), will be changed from Build For Sale to Build for Lease. The Company intends to hold these properties upon completion and lease-up for an indeterminate period of time, and realize the rental income from ownership. This strategy will become a very significant revenue stream for the Company and will become a fourth division of the Company, behind Finished Lots for Sale, custom new homes and renovation/elevation projects.
Strong Q and looks to have some big upside for a ~1m floater.
- Almost $0.04 a share in shareholders equity
- Earned $0.02 last quarter.
- Profitable
- Industry ratios would put this at about a $0.50-$1 ticker.
Good upside from these levels imo if you can get shares.
https://www.otcmarkets.com/filing/html?id=18001054&guid=MhY-k6PTAwwfJth
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314 South Main Street
Forked River, NJ 08731
Your New Jersey New Home Builder and General Contractor -
Trustworthy & Competent - Over 2000 completed projects since 1993
At Dream Homes & Development Corporation, we’re the region’s most trusted home improvement contractor and custom home builder in Toms River, NJ.
We offer a true one stop, turn-key solution for your new home construction, home elevation, structured move or home renovation in Toms River, NJ. With over 1,600 new home projects and 220 major subdivisions completed since 1993 and over 275 home elevation, renovation, and new construction projects completed since Hurricane Sandy, our extensive background ensures that your construction experience is pleasant and painless, as we guide you every step of the way.
Our full range of services include architectural, engineering and survey services, new custom site built and modular homes, elevation and structural moving, foundation and home demolition, helical and timber pilings, and concrete and masonry foundations. Our extensive storm damage construction and storm restoration services, as well as our home renovation service, have completed even the most demanding projects. With experience in working with RREM and other grant programs, as well as dealing with insurance companies for ICC (increased cost of compliance) funds, Dream Homes is a company you can trust to complete your project, from concept to completion, on time and in budget.
MAKE YOUR NEW HOME A DREAM COME TRUE TODAY
| DATE/TIME | SOURCE | NEWS RELEASE |
|---|---|---|
| 12/03/2019 08:30 AM EST | GlobeNewswire | Dream Homes and Development Corporation is Pleased to Update Shareholders on the Filing of the Company's Financial Reports and General Business Update |
| 06/27/2019 09:40 AM EDT | ACCESSWIRE | Dream Homes on Pace to Increase Revenues in 2019 by over 80% from 2018 to over $5 Million |
| 06/20/2019 11:05 AM EDT | ACCESSWIRE | Dream Homes Assembles Three Large Parcels in Clayton, NJ to Construct 120 Unit Apartment Complex with Anticipated Valuation of Over $21 Million |
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