Sarasota S Land Rush Financing A Real Estate Investment Schmidt Brewery Lofts Finding Buyers For Investment Properties A Realtor S Personal Safety Guideline
It’s a seller’s market in Sarasota! Home owners will not often read this piece of advice in the current situation – but here it is: if you are thinking of selling your home in Sarasota, now is a good time to list it! There are buyers waiting to snap up homes in this Florida paradise. This is an unusual situation and begs the question: Why does Sarasota miss the realty doldrums?
The local real estate taxes are lower than they are in other nearby counties but this would probably have nothing to do with its popularity as a place to live. In fact, it is thought to be the sheer beauty of the place that draws people in like a magnet.
However, there is more appeal than just visual beauty in this scenic, sun-soaked city. Sarasota has gourmet dining, first class shopping areas, museums and state parks to take your breath away. A large and diverse interest in the arts means that opera, ballet, live plays and musicals are all available on a regular basis.
You are offered pristine beaches, fishing, golfing, boating and the perfect climate to enjoy them; the climate usually sits at a comfortably warm seventy-three degrees almost year round. Sarasota is thought to be a paradise by its residents.
Sarasota and its neighbors to the north and south form the seventh largest property market in the USA. It is also the third fastest growing major market in Florida, along with its neighbors, Charlotte County and Manatee County.
Its growth rate is quadruple the reported national average and the per capita retail sales are 20% above the national average. Sarasota is a booming place!
In 2004, property prices showed an increase of a massive thirty-three percent. Local real estate agents are reporting now that despite huge increases in property prices, buyers are still scrambling over each other to buy a Sarasota home. It’s the Sarasota version of the Oklahoma Land Rush.
Although Sarasota has a strong foundation of retirees, they only account for approximately a third of the population. The fastest growing group of the population is the average family looking for the average family home.
Sarasota believes in entertaining its residents. Major events such as the Spring Carnival, Jazz Festival, Comedy Festival, the Music Festival and the Film Festival are interspersed with many and varied events, recreational classes and seminars.
You can enjoy live music which is as different as The Mikado is to The Beach Boys. You can watch the Russian Ballet on stage or ‘Simply Ballroom’. Your family can learn Dancing for Kids or watch ‘The Hungry Caterpillar’. There is a plethora of live shows, plays, comedies and dramas for all the family.
Sarasota also wants to entertain your brain, so you can attend classes to learn a language, study foreign affairs, find out how a Bedouin lives, learn to fly, delve into Bio-Identity Hormones, study the intricacies of genealogy and learn Bridge.
Just want to relax? Sarasota also offers all the usual classes in hobbies and crafts, computers and exercise etc. There is even a ‘classroom on wheels’ in case your old mum visits! You will never be bored in Sarasota even if you do manage to drag yourself away from the beaches.
The more that Sarasota is investigated, the more obvious the answer to the question becomes: Why does Sarasota miss the realty doldrums? Because it is a true paradise – it offers everything.
The benefits of financing a real estate investment in Maryland can’t be emphasized enough. Not only does it give you a massive tax benefit, it also eliminates your need for immediate cash and for sellers or lenders, it also creates a stream of income. And getting it is not very difficult. Most lenders know that they can earn a good amount of interest on the amount they lend. In case you are looking for a seller to finance your purchase, just tell him that you will pay him more if he waits. He’ll be game. However, this is not all; there are various other ways to get your deal financed.
An investor in Maryland can also look for private lenders to finance his deal. Though the investor might have to pay a rate of interest that is higher than what the banks ask for, but there will be lesser hassles.
The investor can also take over the existing loan, if any, against the property in Maryland while purchasing it. The investor must make sure than the all the previous installments are cleared. In this method, the investor does not have to shell out a down payment for the purchase of property in Maryland. The remaining payment for the purchase can also be made to the seller in installments.
What does an investor do when he has no cash and the seller is not ready to sell without it? The solution is pretty straightforward and simple. He mortgages some other property that he has. He might even try combining the equity of more than one property to arrange for the finance. However, the investor must take care that he mortgages his residential property and not the ones that are meant for investment. He will end up blocking them and might have a problem selling them when he plans to.
An investor can raise all the cash he needs for a real estate deal in Maryland. He just has to be alert and look at all the options available.
There has been a lot of speculation about the fate of the old Schmidt Brewery. Once a bustling brewery, employing over 400 workers, it has been sitting vacant since 2004. Council Member Dave Thune describes it as a “symbol of the Seventh Street community. We want to bring life and liveliness back into the neighborhood”. When he heard of the development proposal from Jeff and Craig Cohen, who finalized their purchase of the 100,000-square-foot, 15-acre complex in January, Dave considered this a welcomed opportunity. This project would be similar to the Carleton Artist Lofts on University Avenue in St. Paul.
Their plan is to create an urban village, named Brew Town. Preserving the historic design, they would refurbish the castle-like structure, transforming it into150 live-work spaces for artists, a series of retail shops, offices, additional housing, and eventually the addition of restaurants and a hotel. The project will include pedestrian-friendly amenities catering to local basic needs such as grocers, cleaners, and theaters.
This $25 million project is designed to preserve this community icon and revitalize the area. The area currently has a thriving arts community, but affordable housing for artists is hard to come by. This project will fill a definite need. The Seventh Street neighborhood of St. Paul is described as an area with a lot of potential, and The Brewery Lofts may set the pace for future developments as well. The Cohen’s also plan on incorporating green space and an environmentally-friendly design into the project. Many challenges exist with the restoration of this unique structure including the preservation of its caves, artesian wells and many historical artifacts.
Jeff Cohen is a nationally renowned Washington architect, who is teaming up with his son Craig for this project. Some of his other noted developments include the Waterview at Bayside Portland Maine Luxury Condominiums, and the Maine Lakefront Homes at Sanctuary Cove. He enjoys creating buildings that look like they’re part of the neighborhood. In his words “I’ve developed projects with a few residences and others with hundreds,” Cohen says. “They all involve the creation of first-class living space. The buildings I develop must be something that I would want to live in myself.”
To find buyers for your properties, get to know other investors who would be interested in buying from you. Do this by developing an identity, looking through title records to find other investors, developing a marketing strategy and contacting investors who advertise via street signs.
Finding buyers for investment properties does not have to be a complex marketing battle. In fact, successful real estate investors often find buyers and tenants for their properties before the even purchase a piece of real estate. They do this by focusing on other real estate investors. Other real estate investors are always looking for properties to buy, so if you can supply them with properties, you will have a steady stream of potential clients at your beck and call.
Developing a list of investor clients willing to buy your properties is as simple as:
1) Developing a brand. In order to have investors remember you, you need to develop a brand or identity that stands out. This can be as simple as wearing a distinctive style of clothing, having a polished image, being approachable and personable, or having a specific niche or focus that is intriguing. Even a memorable business name or business card can go a long way towards ensuring that people remember you.
2) Looking for title records. Visit a title company or get to know a local real estate broker to find local title records. Good investors who are interested in buying and selling lots of properties show up on these records very regularly, so when a few names show up in the records again and again, you know that those are contacts you want to make.
3) Marketing. When you eventually have your list of investors, you will have to do less marketing work in order to sell your investment properties. However, at the beginning, especially, you will need to market in order to generate a list of potential investors interested in your homes. To do this, hand out brochures, business cards, and other marketing materials to everyone you know. Try targeting your ads to places where you know investors visit. For example, sign up for the local investors club or advertise in a local publication that investors tend to read.
4) Look for street signs. Any signs that say “We Buy Houses” are generally from investors, and you generally want to get to know the people who are pasting around the signs in your area. You want to contact these people when you have investment properties you want to sell, and you want these people to call you when they come across business opportunities that they don’t want but which you might find intriguing.
A major concern for realtors is personal safety. Many times the realtor is working alone in showing a property, having an open house, or manning the model house in a new subdivision. Some personal safety issues should include:
On the first meeting of a client, have them meet you at the office. Get as much personal information as possible. A copy of the driver’s license is a good start not only for safety, but also for the client database.
If you have a strange feeling about the client, don’t show property by yourself. Ask a co-worker to go with you; at worst you might have to split the commission. If you are manning an open house and you feel that you might be in danger, leave the property and call for help.
Always drive your own car to the property as this might be the only means of escape. On the way make notes on the type of car, color, and license plate number and call the office with this information. Once at the property make sure your car is not blocked and you have an easy escape (no backing-up).
As you are showing the property, always have the client lead you; this allows the property to present itself and keeps the client where you can see them. Make sure they sign-in on the registry and if the office does not have the information on the client, get the information to them. Your office will know you are with a client at this time.
Keep your keys and cell phone close and easy to access. If need be, keys can be effective weapon of surprise. If you have a handbag, keep it with you at all times or locked in the trunk of your car. Know the property, not only do you look more professional, but safer; your client does not know all of the exits as well as you should.
Take a few self defense classes, as a few minutes head start out of the property means the difference in a safe escape and being trapped. Take the first chance for escape and don’t try to talk your way out; keep your advantage. The more time you spend in a dangerous situation means a diminished chance of a safe exit.
Let the client see that you have contacted your office and the office knows who you are with. It is also a good idea to have a secret code for trouble such as “Pick up dog food” when you don’t have a dog. It is also a good idea to set your phone to vibrate as your client will not know if you are calling or if you are receiving a phone call.
If there is an emergency your office can play a vital role. Make sure they have the make of your car, its color, and license plate. If you are using a different car that day, make sure they have its description as well.
Make sure your office has your schedule for the day and that you check in on each appointment. If you are hosting an open house, make sure you have a registry book for clients to sign in. See if you can also include the client’s car description. Tell the client it is just in case they get a parking ticket and you want to document the reason for parking there or some other reason.
Many of these points may already in practice for the profession. Look to these procedures as also a safety concern. These safety tips should become second nature with little thought to be truly effective. Being an agent means sometimes you will work alone. With today’s cell phones and e-mail capabilities and some careful thought, you will be safer and will be in contact with help quicker..
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