Investor and co-host of Urban Suburban Philip DuMoulin offers analysis on the Arizona market, increasingly attractive to Canadians looking to capitalize on rock-bottom U.S. pricing.
Video transcript below:
Philip Dumoulin, Co-Host, HGTV’s Urban Suburban
Philip Dumoulin: Well after the first day, couple of minutes, got into the, got into the mold and just cruised right through. When you know your information it makes it very easy. So it was, it was a lot of fun, had a great time up there. Well I mean I was a little overwhelmed once the speech ended. You know Phoenix is a hot topic right now, so I was overwhelmed with people and their cards and wanting more information. So pleasantly surprised. So you know from the first day and the first hour of the Forum so far it’s been great, reception has been fantastic.
Well I think the big thing for me in an event like this with investing in Phoenix is we are looking at the opportunity as a syndicate. So obviously we are looking at outside investors and this is a great networking opportunity for whether you are mortgage broker or a small time investor locally or looking to go into the United States, you are finding new sources of money, if that’s what you are looking for and it’s all here and that’s what I love about it.
Well I think the big thing for an investing in Phoenix right now is it’s a reverse bubble. I mean, the prices that you are seeing down there and the returns you are getting on them, I talked about a condo at $35,000, it’s gross rent per month is $1278 and this is a Section A tenant, it’s government sponsored so the money is being delivered right into your bank account. Vacancy rates are very tight because the credit flow is very tight as well. So there are lots of renters out there looking for places to rent and from the properties that we have purchased so far, we had a line up at every one to get a renter in it.