MIAMI: Mates and relatives who want to break into the property market are pooling money to buy and develop homes in trendy suburbs that they would otherwise be priced out of.
Property syndicates, aimed at commercial investors and the rich, have long existed.
But in a hot market, joint residential ventures are gaining popularity as a way to break into a dream, inner-city suburb.
A group formed by a boutique developer, Tim Riley, of Property Collectives, moved into their custom-built townhouses in McCracken Avenue, Northcote, about two years ago……