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All Forum Posts by: Cristin Andrews

Cristin Andrews has started 13 posts and replied 66 times.

Post: Austin landlords - 2 bed 2 bath under $1400?

Cristin AndrewsPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 70
  • Votes 33

There are some Facebook groups that post Austin rentals and sublets. 

Post: To be built 4 plexes - Cypress, TX

Cristin AndrewsPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 70
  • Votes 33

hi Steve. Do I understand correctly that these are sold in groups of 4? When does purchasing actually happen?

Post: Section 8 for tenants without permission .

Cristin AndrewsPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 70
  • Votes 33

There is one other possibility - that your friend actually is Section 8 but hasn't shared that with you for one reason or another. Maybe ask them first and if not then proceed with calling the police or social worker.

Post: HELOC/Home Equity - divorced but ex still has title claim

Cristin AndrewsPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 70
  • Votes 33

Thank you @Shaun Weekes and @Kyle J.

Post: HELOC/Home Equity - divorced but ex still has title claim

Cristin AndrewsPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 70
  • Votes 33

I have 95% of my primary residence paid off (200k equity) and am looking at a HELOC or Cash out Refi to invest in real estate and also thinking about paying off the remaining 5% with these funds so I only have one payment. I am a high income earner with no other debt so DTI is not an issue. I'm leaning towards HELOC as I anticipate drawing 50k chunks of money at a time but am concerned about rising interest rates and the variable nature of HELOC rates.

Also, I started a refinance a few years back when rates got really low and was told that because my divorce docs awarding me the house did not have the full and complete block address that my ex still had a claim to the property and would have to come to signing (amicable divorce so he was willing to do that). Things got busy and I never completed the refi. I’m not sure how his claim might come into play in this situation. Does anyone know steps I can take independently to remove him from the title? Can we just sign and file something somewhere? How do I determine the correct description for that document. The one in the divorce decree was taken directly from the property closing documents.   I bought the house on my own but he acquired right to it as we are in a community property state and we were married at the time of purchase. 

Given this situation does a HELOC or cash out refi make more sense?

I appreciate your input. 

Cristin

Post: IRS recognized real estate professional while drawing pension?

Cristin AndrewsPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 70
  • Votes 33

@Michael Plaks

Thank you for explaining things so clearly. Very helpful. 

Post: IRS recognized real estate professional while drawing pension?

Cristin AndrewsPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 70
  • Votes 33

@Tony Vizzari

Thanks for the suggestion - I will look into it

Post: IRS recognized real estate professional while drawing pension?

Cristin AndrewsPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 70
  • Votes 33

@Basit Siddiqi thank you for the input.

Post: IRS recognized real estate professional while drawing pension?

Cristin AndrewsPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 70
  • Votes 33

@Lance Lvovsky @Ashish Acharya

Thank you both for answering. Good news. 

Post: IRS recognized real estate professional while drawing pension?

Cristin AndrewsPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 70
  • Votes 33

Hello - newbie here,

I'm a single high income earner so have very limited tax benefits for real estate investing and know that I cannot become an IRS recognized real estate professional while I have my W2 job. I plan to retire in 6 years and will have a pension. Would I then be able to become an IRS recognized full time real estate professional at that time while I'm drawing the pension? (would be under 100K threshold)And if so, would I be able to deduct depreciation at that time which has been deferred from previous years?

Thanks in advance for your response.

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