It has always been a dream of James Dondero and Highland Capital Management to venture into Real Estate. James Dondero and his companies Highland Capital Management, Nex Bank Capital, INC and Nex Point Residential Trust which is an extension of Nex Bank Capital, Inc. Nex Point Residential Trust is currently working on an apartment project in the city of Phoenix Arizona. Visit jimdondero.com to know more about him.
James is the Co-Founder, President, Chief Executive Official and on the board of each of these companies. James has years of experience, time and monies invested in each of these companies and is using them to expand into new areas of investment and wealth.
The real estate market is making a dramatic climb now as the need for more housing rises. The real Estate market has for the most part always been profitable. So now is the time to act upon the market. James Dondero was quoted as stating that Highland Capital Management and Nex Point Residential Trust have plans to become more involved in real estate properties.
By purchasing already existing homes, business properties, and apartment complexes. Once the properties are purchased the next step is to begin remodeling the complexes. By remodeling, renovating and updating the properties they can be resold for a much higher value. On the other hand, these properties can be rented or leased out to families or individual tenants for a greater monthly rate. Read more at Wikipedia about James Dondero.
Potential buyers can find multiple unit properties for a little as $70,000 to $90,000 dollars. Please keep in mind this price is per each unit on the property purchased. One single apartment can easily bring an income of $140,000 per year more or less. This is depending upon the location of the property.
Now multiply that $140,000 time say 50 units a year that is well over $7,000.000 or more per year.
In addition to purchasing preexisting properties James Dondero also stated that new apartment projects and complexes can be built for approximately $115,500 per unit. The new apartment projects skip the need for funds to refurbish the units as well as the wait time to refurbish them. This way the units can be sold rented or leased after building is completed and start generating an income for the owner.
James Dondero stated his long-term goal is to purchase multiple properties in the state of Texas.