All Forum Posts by: Reuben L.

Got it thank you for responding to my question! I ended up amending the return after sending the prior year contributions. 

Any way you can plan to stay at the property as a house hack longer than the 18 months I think you mentioned? Itll give you more time for rents to come up and possible appreciation to happen before you move out. 

And as someone else mentioned after 2 years you could take advantage of the tax savings if you think its better to sell at that time. 

I agree that as a house hack it seems like it would be a great deal as shown by @Greg M. for financial and commute reasons. 

But as a rental after moving him moving out wouldn't it be a break even deal or slight positive? 

Rough estimate numbers below. This of course doesnt take into account loan pay down or possible appreciation which would help the numbers out.

Im still learning too so wanted to throw out my take on it to contribute to the conversation. 

Income
Both units rented           1900


Expenses
Mortgage (assuming PITI) 1350
Management (10%)           190
Repairs (5%)                      95
cap ex (5%)                       95
Vacancy (5%)                     95

Net Cashflow                      75

I have an HSA through my employer and I would like to do an out pocket contribution this year (2021) to make up for not hitting the max limit for last year (2020). 

Since I have already filed my taxes for 2020 a couple months ago would I have to amend the tax return to add in the deduction for the prior year contribution? 

Or would the out of pocket 2020 contribution conducted this year go as a deduction for the 2021 tax year and taken into account when filling in 2022? 

Thank for you help! 

Thank you everyone for the welcome and the helpful links!!

@Ali Boone

@Ali Boone,

Oh cool, I got to visit Edwards AFB and a couple companies out there a few years ago with my design class.

Exciting projects out there.

What can you tell me about the Palmdale area regarding safe areas where investing might be worth it? Good drive away from me but the prices for real estate are much lower.  

Congratulations on the new property! My friend just bought a place just south of the airport. I went there once and it does look like a nice neighborhood. 

I got to check out that Seabridge area. Ive only driven by on Victoria to get down to the harbor and beach once. Late last year I do remember seeing new condos being listed in that area that I briefly looked at. 

Yes ill be there at the meeting this week. Sounds good, see you there.  

Hi All, 

Been a listener of the BP podcast for awhile now and I finally got around to making a profile. I am an Aerospace engineer working in Carpinteria and I bought my first property in Ventura, California at end of 2016. It is a 3 br 2.5 bath condo that i am currently living in and renting out one of the extra rooms. I really enjoy my day job as an engineering but I hope that real estate investing can be my vehicle to financial freedom. 

I am looking to learn more about rental properties and fix and flips since i see these as my next moves in real estate investing. I would also like to meet investors that have experience with the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy in California.

Would also like to learn more about the surrounding areas and about investors first hand experience in real estate investing. 

Things I enjoy outside of real estate are the beach, hiking, and mountain biking. 

- Reuben (In progress of changing name on profile)

Hey  @Kevin Phu, 

Pretty sure I met you at one of the Mimi's real estate investing meetings!

I was wondering if you ever got more insight on what other investors think of the crime spike this year in the Oxnard area. 

Are these incidents in one general area or are they dispersed throughout the city?

Ive briefly look into Oxnard and I like its proximity to the beach which tends to always be prime real estate. The homes on the market in south Oxnard seem to be priced lower than the surrounding cities, which makes me wonder if safety is the reason. I think i need to drive around those neighborhoods to see how they are first hand. 

Im thinking that the city is trying to improve starting from the collection and then moving south towards the water. 

-Reuben