Phoenix AZ
- Thread starter Bindy25
- Start date
- Joined
- Nov 2, 2010
- Messages
- 14
There was a large focus on investing in the US at the recent North American Summit in Alberta. There were very informative speakers and if you are looking seriously at investing there, it may be helpful to listen to the material. The take home for me was that if you are going to invest in the US, make sure you have an incredible team on board including both accountants and lawyers that are very familiar with both sides of the boarder, and on the ground support such as real estate agents and property mangers. Also, the ROI numbers down there are very similar to some Canadian cities such as Calgary and Edmonton. Keep in mind too that the 2006 valuation is not based on economic fundamentals. Best of luck!
- Joined
- Oct 27, 2009
- Messages
- 1,210
The best time to buy in Phoenix, AZ was 2010 and 2011. ROI was better than anything available in Canada now or then. The best time was when all the naysayers were telling me that I was making a mistake buying condos and detached homes in Phoenix, AZ. Most people don't know what they're talking about. Prices have easily doubled since then so the returns are mediocre to poor at best. The time has past. Solid accountants, lawyers, property management, etc. are all simple to find. My experience and opinion only.
- Joined
- Oct 17, 2007
- Messages
- 295
What are you buying for? Strictly investment as a rental? Something for yourself to get away from the harsh Canadian winters? Something for yourself with a combination as a furnished rental?
Phoenix led the nation with a 17% increase in property values the last year. It should continue to rise. They are still far from the values in 2006. Investors have been scooping up property like crazy which has been saturating the rental market and driving rents down. I prefer to make money in my own backyard without all the hassles of international investing. Plus there is no shortage of crime in that price range. Be careful of the neighbourhood. I'm looking to invest in Phoenix as well but as a 2nd property to get away from the cold. The prices are still good.
Rickson, good job on buying when the market hit bottom. I'm sure you will continue to tell your story for years to come.
Phoenix led the nation with a 17% increase in property values the last year. It should continue to rise. They are still far from the values in 2006. Investors have been scooping up property like crazy which has been saturating the rental market and driving rents down. I prefer to make money in my own backyard without all the hassles of international investing. Plus there is no shortage of crime in that price range. Be careful of the neighbourhood. I'm looking to invest in Phoenix as well but as a 2nd property to get away from the cold. The prices are still good.
Rickson, good job on buying when the market hit bottom. I'm sure you will continue to tell your story for years to come.
- Joined
- Oct 27, 2009
- Messages
- 1,210
[quote user=MarkTorgerson] What are you buying for? Strictly investment as a rental? Something for yourself to get away from the harsh Canadian winters? Something for yourself with a combination as a furnished rental?
Phoenix led the nation with a 17% increase in property values the last year. It should continue to rise. They are still far from the values in 2006. Investors have been scooping up property like crazy which has been saturating the rental market and driving rents down. I prefer to make money in my own backyard without all the hassles of international investing. Plus there is no shortage of crime in that price range. Be careful of the neighbourhood. I'm looking to invest in Phoenix as well but as a 2nd property to get away from the cold. The prices are still good.
Rickson, good job on buying when the market hit bottom. I'm sure you will continue to tell your story for years to come.
Thanks Mark! As you know, many REIN members loved talking about my investments in Phoenix, AZ property in 2010, 2011. Oddly enough they're quite silent about it now.
For the OP, you may find this thread useful (or not):
Canadians Snap Up US Properties
Phoenix led the nation with a 17% increase in property values the last year. It should continue to rise. They are still far from the values in 2006. Investors have been scooping up property like crazy which has been saturating the rental market and driving rents down. I prefer to make money in my own backyard without all the hassles of international investing. Plus there is no shortage of crime in that price range. Be careful of the neighbourhood. I'm looking to invest in Phoenix as well but as a 2nd property to get away from the cold. The prices are still good.
Rickson, good job on buying when the market hit bottom. I'm sure you will continue to tell your story for years to come.
Thanks Mark! As you know, many REIN members loved talking about my investments in Phoenix, AZ property in 2010, 2011. Oddly enough they're quite silent about it now.
For the OP, you may find this thread useful (or not):
Canadians Snap Up US Properties