All Forum Posts by: Carolyn Morales

It is a great idea though. We built our first house by Barter and saved a ton of money.

 I found it.

QUALIFIED/UNQUALIFIED

The Florida Department of Revenue provides guidelines for determining whether a property is qualified or unqualified. A qualified sale is an arms-length transaction in an open, competitive market between an informed and typically motivated buyer(s) and seller(s). Qualified sales are used in the mass appraisal process whereas unqualified sales are not. Unqualified sales are those which are not arms-length, such as transfers between affiliated parties, those involving government agencies, transfers where ownership conveyed is less than 100%, or those involving banks, loan or mortgage companies and others. Distressedsales are not considered qualified sales, and therefore, are not used in the mass appraisal process. However, we do review the impact of distressed sales in the market.

what does "Qualifying" or "Unqualifying" mean on  County property search records?

This is great! Thank-you for teaching it..Is it just natural for you to teach by default as a primary motivation or do you have class schedules set up somewhere?

Christian Austin, Is there an update to this process?

For the sake of conversation, Can a buyer change the zoning on a 4000 sq ft retired fire station to a small multi ? Would the process be the same? Petition a zoning board, draw up plans with an architect, gather construction estimates? Not necessarily in that order. 

I love the simplicity of land. When you have the right piece of land whether you can split it up or just sell the whole thing, It can be very easy money. Most investors focus on homes, multis, flips, buy and holds and landlording. I have done both. I can tell you the right land is so much easier and a lot less work. Read my bio, If you want.  I am looking for more land! Listen to podcast 39 with Seth Williams. The right kind of land is awesome, but it has to be he right kind. I LOVE LAND!

Your friend will have more risk than you do..Do you both have any back up income to purchase like a student duplex near a college from an out of state or owner finance owner/ motivated  seller? I say back up income so you may add value and resell, or rent?  Have you thought through each other's expectations on cash flow, time expected to work it and get a return? 

I did have a very easy time dividing 5 perfect acres into 5-1 acre lots and selling them all by owner financing, and took the profit and bought commercial vacant land that I later sold for much more. But your friend may not want to wait on a return.  Land has been alot less work and headache than renovating and landlording but Land has to be in the right place and the right kind to divide. My lots were in an up and coming rural town with its first new  grocery store. It had alot of dirt roads that are paved now.. It sold very fast. People love the simplicity of owner financing. 

That's a great idea!

Welcome to Bigger Pockets! 

Welxome Heather Cole! A smart investment is always better than paying rent. If I could start over, I would include multi in my beginner investments. There are many valuable educational resources here.. Stay inspired and feel free to reach out to me.