Luis Enrique Coll’s company, the Alco International Group, is a multifaceted real estate development firm with interests in the United States, Panama, and Venezuela. In Florida, the Alco International Group has recently been involved in building luxury mixed-use buildings with residential and commercial space. Adagio Fort Lauderdale, a project under construction in 2018, will contain 31 luxurious residences. Some standout features of these residences include high-end appliances, designer cabinets, and ten-foot ceilings. The building also has impressive common spaces including pools, fitness rooms, and a media room. With a combination of retail and residential space, Adagio Fort Lauderdale will provide a rich living experience for its residents.
The Alco International Group had its beginnings in Venezuela, where the company was involved in building affordable housing. This commitment to quality affordable housing continues today and has expanded to Panama. Luis Enrique Coll worked together with his family to build the Alco International Group from a small company into a multinational real estate corporation. The company’s mission statement, “Develop life-changing spaces, generating value and enthusiasm,” succinctly states its goals.
Luis Enrique Coll continues to add value and beauty to the communities he serves through constructing attractive new buildings. His company provides jobs for many construction workers as well as other service employees. His commitment to customer service and buyer satisfaction have made Alco International Group an important force in the communities it serves. A project built by Alco International Group will continue to enrich the community for many years.
How did you get started in this business? What inspired you to start this business?
We created our family business in 1980. We saw a need in the market for quality affordable housing. As the years went by, we developed our skills and began building larger and more elaborate buildings.
How do you make money?
Investment in real estate can be a lucrative business if you know the ropes. Buying land, we add value by constructing beautiful buildings. We then sell or lease the buildings to our clients.
How long did it take for you to become profitable?
It does take a while to become profitable. I would say that it took us about five years to begin making money. We did need to invest quite a bit of capital in our business to be successful at first, but the investment became worth it over time.
When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
I was doubtful about our family business’s prospects when we first began investing in real estate. Having an unstable business foundation, as we did at the beginning, made me wonder whether I should get a job working for someone else. I’m glad I stayed with our company.
How did you get your first customer?
We advertised our new development of homes and sold them to our customers. We were delighted to make that first sale. It became a point of pride for me to have clients living in homes we designed and built.
What is one marketing strategy (other than referrals) that you’re using that works well to generate new business?
We have become involved in social media, especially in the marketing of Adagio Fort Lauderdale. It’s a valued strategy for attracting potential homeowners who are looking for a boutique residence. We can showcase not only our building’s amenities but also the vibrant surrounding community.
What is the toughest decision you’ve had to make in the last few months?
We have had to make some difficult construction decisions. Of course, the overall quality of our buildings is the most critical consideration. We have been selling units as they are being constructed, so we have a time pressure to get the work done. We have tried to balance the pace of construction with the continued high quality of our work.
What do you think it is that makes you successful?
Persistence is what makes me successful. When I have setbacks, I push on and keep going. It also helps that I have my family to support me in this business. It’s possible to stretch past your comfort zone if you know you will be supported.
What has been your most satisfying moment in business?
I hope to continue developing beautiful residential and retail buildings in Florida. I would also like to see us grow into more countries. We are researching possible emerging markets for our business.
What does the future hold for your business? What are you most excited about?
We hope to keep expanding and growing. Our development projects are lucrative to the regions we build in. So we hope to continue being productive members of the communities we build in.
What business books have inspired you?
The Information Age by Daniel J. Levitin has influenced me greatly. His book is about understanding the flow of information and data in the digital age. I also enjoyed The Culture Code by Daniel Coyle. This helped me understand how to motivate and reward our employees.
What sets your company apart from the competition?
Our long-standing devotion to quality construction goes above and beyond what other local companies can promise. When we complete a building, we know we have added value to the community. We are excited to share our newest building project, Adagio Fort Lauderdale, with our clients. It means a lot to us to know that individuals and families enjoy living in our homes.