Carolyn Morales

Here is my investor history: ~ BARTERING: In 1986, I was 21, My ex was 26, we built a 2600 sq ft 2 story on 4 acres for 65k by bartering and diy. You dont hear the word "Barter" anymore. He was an electrician. He wired the plumbers and the framers houses and they did the plumbing and framing on ours etc .... We hired the AC guy and the the drywall was hung and we did the rest diy with all the finishes. It just happened to work out that they were all building primary residences at the same time. That experience with learning all the finish work has kept me and my current husband of 15 years through 5 more live in rehabs on buying bank owned or short sale primary residences, lived in rehabbed & turned to rentals later, at a no rush pace. BUT, I love the simplicity of Land and tax deeds. I have made an extra 200k just in vacant land as the easiest money I have ever made., requiring only paperwork and research with a little cash to jump in. *Land Investing: In 1989, Before Clay County FL had Impact Fees, I bought 5 acres for 10k and had them divided into 5- 1 acre lots and sold them all owner financed for $7500 each. I then bought a commercial acre for 17k and held it several years and sold it for 55k owner financed. *Accidental Landlords: In 2004 we became accidental landlords. One of our places got destroyed. I thought, " Man, Land is so much easier than all of this!" We rehabbed the destroyed place and later sold it owner financed. We kept buying bank owned primaries, lived in rehabbed and later rented. *Tax Deeds: In Feb 2017 we had to give my 18 yr old little brother 26k out of a family probate rehab & wanted to inspire him to invest that 26k wisely. So, I learned Tax Deeds on purpose & started a FB group & started researching profits so he could see the benefit.(~verifiable Facts) I learned about post auction Lands Available properties & got the list from Duval Tax Deed office. I found my brother the 1st great tax deed & he refused to buy it. So I bought it with no idea I would make 55k on the very 1st Tax Deed, vacant lot purchased from Lands Available list OTC without bidding. I didnt rake 1 leaf! That turned me into a freak! I made 20k profit on the 2nd OTC deed, a commercial lot, 3rd one is 2.56 acres on Normandy Blvd 32221,SR 228 with 528 ft frontage on the state rd and 330 ft frontage on the side rd. We are holding that til the 4yrs is up to rezone it to commercial (8/2021) as there is a new highway (23), A new Industrial manufacturing park, 2000 acres of Normandy is being rezoned to higher housing density and 1139 new apartments are being built right now across the street. Rezoning this to commercial will be the best tax deed profits yet. I have also done a bunch more over the counter deeds and made anywhere from 1k quick profit to 8k and everything in between. I did a couple quick flip homes, without working on them making 11k each one. Tax Deed Surplus: I have done this before also, letting 2 acres go back to tax deed sale because I could not get the waiver of road frontage I thought I needed, because that is what the city planner told me. I bought it already tax delinquent a couple years for $4500.00 the assessed value was 46k. I thought it was worth the risk and I could learn the waiver of frontage application process. Also, that the worst case scenario I could at least get my money back in surplus if I let it go to auction instead of redeeming the taxes. This was in Duval County Florida in an online huge auction where the whole world has access. It got bid up to 24k, I got an 18k plus surplus check. I bought this 10/29/2019,The tax deed sale date was 2/19/2020, my surplus check is dated August 2020. It is not my favorite mode of profit, but I will take it!! I later was told the city planner was wrong and I didn't need a waiver of frontage as the right of way was in a deed from the 1970s. *Pre Tax Deed auction Intercepts: I have done this 3 times. 1 is a commercial lot I paid $7200.00 for and sold it for 15k owner financed. It is cash flowing $500 a month and no maintenance required. Another is a house in Green Cove Springs ,I paid the owner 24k( Ironically he won it as a tax deed many years ago but he liked my hand written letter) I sold it for 35k the next week and owner financed a rehabber who is about to pay me off in a couple months. The next one ,I actually lost $300 on. It was a good lesson in rushing pre auction intercepts as it was .56 acres that has to be rezoned to higher density to use. Even though the GIS shows many developed lots around it the same size or smaller, it does not necessarily mean the zoning is correct for subject lot...a first loss for me. *Cert Holder Applicant winning property on a No Bid at auction: I have done this 2x and turned both quickly to builders for 1k and $1400 profit. *TAX DEED donated lot purchase: I gleaned the inventory of a local non-profit for land that was donated to them by a large Tax Deed Investor fund. They must have thought they didn't have any value. I did the research and found a Land Locked parcel that was adjoined to 2~400k Commercial lots. The non profit only wanted $750.00 so I bought it. I then wrote a hand written letter to the owner of the 2-400k commercial lots and he was more than happy to pay me 15k for my land Locked piece that would more than double his front piece. At closing I split the profits with the non profit because they are a mission that feeds the homeless. *We are rezoning another property to commercial that is on a main drag road that was a former primary residence in zip code 32221, with all the new growth also.,that has been a rental for the last few years. Lastly, with our latest live in rehab (5 acre farm all fenced and separate pastures with inground screened pool and a 2001 built house we paid 138k for, bank owned. https://m.facebook.com/LAMPWATERSTEMPLETOWNETHEMEPARK/albums/10157567154618844/ We plan to transition to IRS 121 Exchange tax free sales on primary residences. You can sell your primary residence as often as every 2 years for as much as 500k max married or 250k max single tax free profits, but you must buy another primary residence with the proceeds. Insurance paid for the new roof because it is our primary residence. We are adding a garage/inlaw suite and finishing the updates and we can sell tax free! We will be looking for another 2 year tax free live in farm flip when we are done and hopefully keep doing 2 year farm flips and land and tax deeds on the side.. This way we keep our tools at home and equity in our pockets. Plus I dont have to be in the streets busting it with the wholesalers!! I can do all of this from home. It is the Introverts method of investing... I like it that way! I have no College Degree., I have always been frugal and smart with money...Also frugal and smart with Mental Energy and time. I do not waste it on fiction entertainment!! I spend a lot of time creating spread sheets and pulling out the data for current and next deals..... I guess that 55k profit TAX DEED was similar to a Casino win, but I look smarter....and I am addicted to gleaning the next deal!! Like a Junky in the Casino ( Hey it is all endorphins, serotonin, right?) RE just makes me look smarter...LOL!