The DDI Ownership Team
(Click to see our team)
Since its inception in 2007, Dimes to Dollars Inc., and its founders, Kyle Kite and Andrew Richards, has worked extensively on perfecting where and how to buy undervalued real estate. Colorado, for several reasons, was determined to be an optimal place to begin purchasing properties. Home values have declined by over 23% in the last couple of years (Case Schiller Index) which has created great opportunity for buying into equity, while the stability of Colorado and it’s continual growth (5th fastest growing state in the nation in 2008) has supported long-term sustainability in this marketplace. The company’s avenues to acquire property are very extensive and provide significant value to the company and its investors. Currently Dimes to Dollars Inc., purchases properties via REO properties on the open market, public trustee auctions, private auctions, various and trusted wholesalers, and pre-foreclosure short sales.
The flexibility of the company’s capital structure definitely provides a unique opportunity to Dimes to Dollars Inc., and our real estate investors. All of our homes are purchased and renovated using private money lenders. This situation allows the company to purchase homes with cash, which allows us to buy open market homes at greater discounts, to attend public auctions, and to earn the credibility necessary to work hand in hand with the best wholesalers. Once our homes are purchased and renovated, the company has established guidance lines with several banking institutions. On properties that are deemed advantageous to hold, the company can provide attractive long-term financing, thus giving amazing diversity to our investors. As a result of this structure, Dimes to Dollars Inc., is able to research each individual home opportunity and determine whether a Fix-and-Flip or Buy-and-Hold model will provide the best return to our real estate investor.
A focus on business processes and models has created immense efficiencies for Dimes to Dollars Inc. These efficiencies have allowed the company to maintain a majority of the necessary operations in- house without inhibiting the growth and sustainability of the company. Currently the company manages all of the rental management operations from application, to placement, to maintenance. The company also has its own construction company with an established network of employees, sub-contractors, and material providers. The ability to keep these operations within the company has not only created substantial cost savings to the company and its investors, but has also allowed the company to ensure consistency and quality to our tenants, home buyers, employees, and investors.
The founders’ of Dimes to Dollars Inc., have worked hard to surround themselves with a team of individuals that have the same goals and aspirations. Currently the company employees a certified public accountant to handle all bookkeeping and provide tax consultation. Our in-house construction crew currently consists of five employees that have a combined 30 years of construction experience. Our realtor network is comprised of REO and Short Sale specialists, as well as the top listing agents in the market. These individuals, teamed with the leadership and vision of the company’s founders, provide the necessary resources to ensure future success and a commitment to excellence for Dimes to Dollars Inc.
