An Australian businessman’s investment fund has divided locals after amassing hundreds of properties and becoming the largest single investor in family homes in the New York region.
Over the past three years, Alan Dixon’s fund has spent $610 million on residential property, buying nearly 600 houses and making his company the biggest investor in single family homes in New York.
Mr Dixon’s fund buys historic houses, many of them abandoned or rundown. They buy them cheap, renovate them, and turn them into luxury homes which command top dollar on the rental market.
The purchases are made entirely in cash, and real estate broker Victoria Hagman said Mr Dixon’s all-cash deals are driving up prices :: Read the full article »»»»