With the number of homes on the market more than double what they were last year and prices leveling out, many investors are searching for new properties.
“We’re looking north and south,” said Roselyn Britton, an investor who owns several properties in Sarasota.
A combination of low mortgage rates and more reasonable home prices has Britton looking. Even though she has experience as an investor, she said the learning process is a continual one.
That is why local real estate agents, Dan Forbes and Marie Avery, the broker/owners of Bradenton’s Premier Team Realty, launched a group for those already in the game and those looking to get in it.
The Bradenton Real Estate Club was formed in September and now has 32 members. During weekly meetings at the Stoneybrook Country Club in Heritage Harbour, investors share information and receive input from real estate professionals.
“We all learn from each other,” Britton said.
Last week, guest speaker Martin Ehman of Highland Investment Group helped the group explore lease to buy options. Lease to buy gives tenants the right but not the responsibility to purchase the property.
It’s one of many topics the group has addressed since its formation.
Ehman also cautioned people not to get stuck in the same situation certain novice investors found themselves in, having to pay on a property they can’t afford because they were sure they could flip it.
“Buy what you can afford and look for deals,” Ehman said.
Ed Laake of North American Title Co. deals with investors as well as being one himself.
“This is the best club in all of Manatee,” Laake said.
Copyright © 2007 The Bradenton Herald, Fla., Melissa Followell. Distributed by McClatchy-Tribune Business News.
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