Luis Enrique Coll is a real estate developer with the Alco International Group. His company has a presence in the United States, Panama, and Venezuela. His developments in the United States, mostly in Florida, have been luxury residential projects. Adagio Fort Lauderdale, currently under construction, will be open for residents in 2019. Boasting 31 residences, the building also has many value-added amenities including pools, fitness rooms, and custom designer kitchens. The Alco International Group is continually on the forefront of innovation in the luxury residential market.
Luis Enrique Coll built his company, the Alco International Group, from the ground up. His expertise in all facets of real estate development sets him apart from his competitors. His company began by constructing affordable housing in Venezuela. His company continues to build affordable but high-quality residential developments in Venezuela and Panama. Through his work with the Alco International Group, Luis Enrique Coll takes pride in creating beautiful spaces for families and individuals. The Alco International Group is an integral part of the communities it serves, creating jobs for local residents. When the Alco International Group begins a project, communities can look forward to quality construction that will beautify their city or town for many years to come.
Where did the idea for Alco International Group come from?
My family and I started Alco International Group in Venezuela. We saw an opportunity in the market and decided to fill that vacancy. We began by building affordable housing and creating vibrant communities.
What does your typical day look like and how do you make it productive?
I spend a good portion of each day meeting with clients. I also like to check in on the progress of our buildings under construction as frequently as I can. I have blocks of time set out for each type of task, and I try not to let myself be pulled in by other activities unless it is necessary.
How do you bring ideas to life?
It’s a collaborative process. I work with a fantastic team of architects who design our projects based on our input. I feel like my role is to facilitate cooperation between the architects, construction managers, and other talented people in our organization.
What’s one trend that excites you?
Mixed-use residential and retail development is a trend whose time has come. Residents don’t have to spend as much time driving to faraway suburbs to get the necessities of life.
What is one habit of yours that makes you more productive as an entrepreneur?
I haven’t forgotten what it is like to start out in the business. I take ideas from employees at every level of our organization.
What advice would you give your younger self?
I would tell my younger self to trust in our family and believe that we can make our business a success. There were times when we were starting out when I believed I would do better working for someone else, but I’m glad I stayed in the family business.
Tell us something that’s true that almost nobody agrees with you on?
Investing in real estate isn’t as risky as people tend to believe. Most properties appreciate in value. Of course, you need to continue making improvements to the property and necessary repairs to get the most return on your investment.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Thank the people who have helped you achieve success. An attitude of gratefulness increases goodwill and will make people want to work with you. People are inclined to avoid supervisors and company owners who aren’t sensitive to their concerns.
What is one strategy that has helped you grow your business?
We started out small by building affordable residential homes and progressed to the large, luxurious multi-use buildings we produce today. Starting small is a wise move for everyone. Don’t throw yourself in over your head. Build expertise one piece at a time.
What is one failure you had as an entrepreneur, and how did you overcome it?
We once built a building that did not have as much success as we hoped. It was not in the best location. We ended up selling this building at a loss. We learned a lot from this mistake.
What is one business idea that you’re willing to give away to our readers?
If you want to join the real estate business, but you don’t have a substantial investment, you could start a business that clears the land for upcoming developments and then does the property landscaping once the project is complete. If you price competitively, you may be able to find a niche in the market.
What is the best $100 you recently spent? What and why?
A hundred dollars is a relatively small expenditure. I recently bought an Amazon Echo. It’s helped me to become more organized and provides an easy way of managing all of your entertainment.
What is one piece of software or a web service that helps you be productive? How do you use it?
Our company uses Workfront. This streamlines our work processes and makes everyone more efficient.
What is the one book that you recommend our community should read and why?
This is a classic book, but I recommend “The Intelligent Investor” by Benjamin Graham. This book provides concrete strategies for learning how to invest.
What is your favorite quote?
“I find that the harder I work, the more luck I seem to have.”– Thomas Jefferson
• Set blocks of time to concentrate on each task you want to accomplish during the day. Don’t let one project overtake your time unless it’s necessary.
• Thank the people who have helped you achieve success. Your goodwill will be remembered.
• Don’t throw yourself in over your head. Start small and make concrete steps forward.
Luis Enrique Coll on Linkedin:
Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.