PHOENIX (3TV / CBS 5) – HGTV star and real estate expert Tarek El Moussa has been focusing more on projects in Arizona over the past year and now has a Scottsdale-based company. In the past nine months, El Moussa and its commercial real estate investment partners from TEM Investments have purchased a 36-unit apartment building and 45-unit residential building in Phoenix with additional properties in the future. Why Phoenix? El Moussa told the Arizona family, “Arizona is number 1 for growth in the country. Demand for Arizona is going through the roof, I feel like it’s hotter there than the California coastal market. People are moving to Arizona and rents are rising. ”LOS ANGELES, CALIFORNIA – MAY 17: In this picture released May 17, Tarek El Moussa and Heather Rae Young are attending the 2021 MTV Movie & TV Awards: UNSCRIPTED in Los Angeles, California, part. (Photo by Kevin Mazur / 2021 MTV Movie and TV Awards / Getty Images for MTV / ViacomCBS) Kevin Mazur / 2021 MTV Movie and TV Awards With El Moussa focused on his commercial real estate portfolio, he said he will be investing investment funds in Arizona for a long time Time. This is due to simple supply and demand; more people are moving to Arizona than houses are being built. Second home in Arizona? El Moussa said he and his fiancée Heather Rae Young were in the Scottsdale area about twice a month. “The Scottsdale area is becoming our second home, so to speak. We have boots on the ground out there. We have apartment buildings out there, corporate offices out there. We see a lot of Scottsdale in our future. “El Moussa added,” We are looking at some properties in Paradise Valley. We love Arizona and Scottsdale. A lot of the people we’ve worked with actually live in Arizona. “Invest Now The Arizona real estate market is hot right now with new homes coming up and contracting quickly.” When it comes to the housing market, you need to move lightning fast to make an offer. The population is very low, ”said El Moussa. El Moussa added that real estate never went down over a long period of time. “When it comes to real estate, you buy and wait. If anyone is out there and is an accredited investor, I would like to arrange a call. ”Copyright 2021 KPHO / KTVK (KPHO Rundfunkgesellschaft). All rights reserved.
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