Business
Dream Homes & Development Files 2017 Annual Report Form 10K; Company Reports Positive Net Income on 517% Increase in Revenues
Dream Homes & Development Files 2017 Annual Report Form 10K; Company Reports Positive Net Income on 517% Increase in Revenues.
About this update from Dream Homes & Development Corporation
[{"type":"text","content":"FORKED RIVER, NJ / ACCESSWIRE / April 18, 2018 / Dream Homes & Development Corporation (OTCQB: DREM), a licensed new home builder and general contractor in New Jersey, announces it filed its annual report Form 10K that can be viewed in its entirety at the www.sec.gov website. Dream Homes managed to report a small net profit for year 2017 despite added costs to go public. Revenues grew 517% from $568,291 in 2016 to $2,939,634 in 2017. A detailed list of all projects under contract to purchase and in the development stage is included in the 10K, as well as properties in discussion with signed letters of intent.Dream Homes has experienced solid growth in both the new home and elevation divisions, as well as strong additions to our personnel infrastructure, which are just now beginning to bear fruit. Our new Design Center in Point Pleasant has also led to an increase in modular traffic and sales, as well as facilitated and increased client selections throughout our entire region.The Company was awarded the Ocean County Best of the Best for 2017 in two categories (Best Custom Modular Builder and Best Home Improvement Contractor), which caused significant new awareness and interest from the public. This has led to more showroom traffic, completed estimates and signed contracts. Referrals about Dream Homes are also being generated from many industry professionals, such as architects, engineers and attorneys, who've either had clients with abandoned projects or simply want to retain Dream due to superior performance and reliability.The phrase 'The Region's Most Trusted Builder' accurately describes the company, and is becoming increasingly well known to homeowners in need of elevation & renovation work. The management team has never failed to complete a project in over 24 years in the industry.The Company's business model over the last year has been focused on increasing the new home and new development portion of our business, until it represents 50% - 70% of our entire revenue stream, from the current level of 20%. New home development has a much greater scalability and growth potential than elevation/renovation work. The Company has enjoyed steady growth in the renovation/elevation portion of the company and anticipates that by year end 2018 each part of the company (new homes and elevation work) will represent 50% of total r...