All Forum Posts by: Nancy Lucca

is there a calculator to estimate what your tax refund would be if your income is a certain amount per year and you buy a property for a given amount? You’d think there be a calculator so at least we could have some idea the amount of tax advantages we’d receive.

In California, is a Cal HFA loan a good idea? They pay your down payment for you and closing costs and then whenever you sell or refinance the house you pay them back, on the back end. Interest rates can be 0-2% and u can pay it back any time. My friend bought a house that way and he’s pretty happy with it. Just wondering down the road if there’s any unforeseen problems with doing that. It can’t be that bad if it gets you out of renting right?

well I’d like to see it both ways but mainly for a primary residence. I’d just like to see what the estimate would be before I buy a place since that is something to consider. There has to be a calculator somewhere where u can put in your annual income and deductions and at least get a rough estimate of what amount of tax refund you’d get at the end of the year. 

is there a calculator where u can estimate how much of a tax refund you will get at the end of the year if you buy a house at a given price? Thank youuuu

the first year I had my apartment the rent was $1810/month. The second year it was $1890/month so it went up 4.23%. The third year it went up to $1975/month so another 4.31% increase. The last time the property taxes went up in Orange County was 2%. And they don’t go up every year. So the rent already increased 8.35% in 2 and a half years.

I like the way u think. Yeah I definitely don’t want to be priced out of California. Or more specifically OC/LA area for that matter. And I almost have the down payment needed on a 3 bed 2 bath condo. and so sick of the rent increases, I just want to be locked in with 1 payment. What about property taxes? I hear those go up too but by how much? Nowhere near ($1200 a year/$100 a month) which is what the rent increases are doing.

I’m not a musician. I’m an RN. But yeah no desire to move out of Cali. But trying to decide what’s the better choice initially for my first real estate purchase. Out of state with something that cash flows or something here and “house hacking it” for awhile. I just don’t want the rent increases to get to the point where I’m pushed out of living here. I’ve heard some investors on here saying “only invest in Cali, in a downturn” I wonder what’s the possibility of a downturn in Cali in the next couple years.

I’m trying to decide if it’s better for me to buy something out of state and rent it out or is it better to buy a place for me to live in. I live in California and the rent goes up $100/a year for my 2 bedroom apartment. I’ve heard that’s quite conservative for my area. Been at my current place for 2 years and really don’t want to stick around for another $100 rent increase coming in March 2019. 

what’s a cash out refinance?