Posted May 4, 2016, 3:00 AM
|
 |
Moderator
|
|
Join Date: Jan 2009
Location: 360, St. Edwards
Posts: 12,383
|
|
http://www.afr.com/real-estate/joe-r...#ixzz47dPcQBid
Quote:
In Houston, Mr Russo said, there are good profits to be made. "There's no zoning at all like there is in Melbourne. You go through a planning authority but it's pretty straightforward. I bought my first site in January and will commence construction in November."
"There are no off-the-plan sales. I will build the tower, lease it up and then sell the apartments to a pension fund in one line. For me it's like a working holiday."
He said the US developments were being funded from his own capital, plus mezzanine and senior debt. "I'm also looking at opportunities in Seattle."
|
|