All Forum Posts by: Carolyn Morales

@Michael Bilezikian,

Did you buy all of them on 1 property? So are you the only person that can apply for tax deed now? Do you know the status of the owner? How long have you had the crrtificates? I do this quite often

I love the idea, even not beach front. 300k might be a little high though. Materials and rehabbing costs a little more and may take longer there, you know all has to be shipped in...Do you atleast have a water view from the house? My husband was born there, we hope to retire there airbnb style as well.

RamJack is one company, not sure how inexpensive it will be, depends on the problems. 

I started a post retirmement llc for my short term.cap gains RE transactions of Land and tax deed land. I do not pay myself at all from profits but I do buy more inventory, ie more land and tax deed land. Can anyone give some insight on my tax hits against other RE owned in my name that can offset some Short term cap gains. Should I be paying myself a salary from the business or buying more inventory? Which one  has less of a tax hit? Is it too broad a question to be answered? We do have buy and hold RE rentals that were once primaries that seems to help But this whole llc business and trying to navigate smartest tax strategy is new to me.

I Know some will say pay a tax expert local to me....But you know what? So far they all have a different answer...

That is amazing! @John Morgan

@Brian Spies, How is me paying 5% interest on a mortgage a 5% return on my investment. Does not the return depend on how smart I acquired the investment? That is tickling my brain, what you said. Please put a picture up...

@Joe White,

What lender is approving investor loans at 4%? Is that really a thing for an investment property? We are refinancing our primary at 3% but usually investor mtg or refi is a much higher interest rate and points tacked on up front.

@Mary Mitchell, I am with you on that. I would rather have fewer houses paid off than 15 houses financed to the hilt that I have to wait 30 years to own if I dont sell them first. Financing is not free either. 

@David Adams I am with you in that train of thought! I wonder if anyone has done all the math on the long term for the different scenarios? Refinance is not cheap or free either

@Simon Collins,Of the 2 paid off,  1 is a 1684 sq ft ground floor Florida Condo in a gated Community. The other is actually an owner financed mortgage paying me 5 more years. I had a hard time finding a lender to refinance a Florida condo that was not a primary Residence any more. Other than that, we buy bank owned or shore sale primaries and live in rehab them to later rent, way later. 5 x over now and the latest is a 5 acre farm. But I also buy land and tax deeds on the side for extra easy money. I have made 85k just in tax land on 3 otc lots since 2017, no tenants toilets or rehab, easy money!