All Forum Posts by: Cristin Andrews

@Ali Boone I was nervous when the first one left but now I’m ready to get some freedom back 😀

I appreciate all the advice here. Im trying to get my head around all of the numbers - taxes, depreciation, cash flow etc.

My house is paid off and I will be living in it still another year. I’m a project manager so always plan things well in advance. That’s why I’m trying to figure out what moves to make now to be ready a year from now. My thought is if I plan to retire in 6 years - my effective tax rate will be lower in retirement and my goal is maximum cash flow. I don’t know that a turn key property with a 25% down conventional loan could generate much in the way of cash flow in only 6 years. Then again I’m new to this so open to someone saying I’m completely wrong there.

@Jay Hinrichs thanks. The house is much too big for me to live in it alone 4 bedrooms, study, game room etc so I will need to either sell it or rent it. I’m wondering if a better idea is to sell it and put that cash into a few more properties?

@James Wise thank you

@Scott Passman

Thank you for the advice.

Thank you for your response. I can’t sell this house for another year as my nest won’t be empty until then. Once it is empty, I was operating under the thought that it wouldn’t make sense to sell a paid off property that I could get maximum cash flow from only to buy a different one incurring additional closing costs etc. Is this faulty thinking?

Complete beginner here looking for some advice. I’m about to be an empty nester and in one year plan to move to an apartment and turn my 4 bedroom Houston home into a rental. I’m also thinking of investing in Turnkey properties. I like the passiveness of TK and have no interest in doing the searching, renovating, leasing or maintaining work myself.

I just recently transferred a huge chunk of savings to pay off my house (before I considered I might do turnkey). Rental estimate is 1750 so I think that would be about ~800 monthly cash flow.

Would it be better for me just to wait another 8 months or so to save for the first TK down payment ? Or should I look into a home equity loan for this type of deal now. I have excellent credit, excellent job and no debt. My ultimate goal is extra cash flow for early semi-retirement in 6 years as most of my other investment is tied up in 401k and I wont be able to withdraw from that for 10 more years without penalty. So a SDIRA won’t work either.

Thanks in advance for any advice.