Assembly Bill 1771, also known as the California Housing Speculation Act, aims to change real estate tax policy to discourage investors from quickly reselling properties like single-family homes.Under the proposed bill, an additional 25% tax would be imposed on the gain from the sale of a qualified asset (including homes) within three years of the previous sale.The tax reduction is dependent on the number of years passed since the initial purchase of the qualified asset, ranging from a 20% reduction for sales occurring between 3.01 to 4 years to a 100% reduction for sales occurring more than seven years after the initial purchase.The revenues generated by this tax increase would be deposited into the Speculation Recapture Community Reinvestment Fund, which aims to support affordable housing, local governments, schools, and infrastructure projects.The bill is introduced by Assembly Member Ward, and the proposed tax changes would take effect from January 1, 2023.Assembly Member Ward argues that short-term investors in the market, including fix and flip investors, contribute to rising housing prices, limiting opportunities for Californians to purchase homes.While the bill may discourage short-term speculative transactions, it is worth noting that California's tax laws still provide certain advantages for investors, including unlimited tax write-offs and depreciation benefits.The bill is subject to legislative approval, and Assembly Member Ward will speak publicly about the bill at the San Diego County Administration Center on a specified date.Please note that this is a simplified summary of the bill and its potential impact on fix and flip investors.

It appears to be that their focus might lean more towards collecting money rather than providing substantial support and outcomes.

Agents want you to support them like an employee, but they will never respect you as their boss.

He won’t give up because he never wants to experience homelessness again he tells me.I’m reaching out for advice on how to support him better.

It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

Whether it’s insight into the local market, tips for managing renovations, or just sharing your journey, we’d be grateful for any support.

I do all this alone and have no family support.  

There are no economies of scale to build one property on one lot either so it ends up being more expensive for the builder which means they have to sell at a higher price in order to make their desired profit and if your market doesnt support this, then builder loses money.

If you don't have the money in your hands on day 46, I would call them and demand they transfer the funds immediately to the new PM or you will file a complaint with the state: https://www.dre.ca.gov/consumers/filecomplaint.htmlThat should motivate them to move immediately.

Feel free to bounce ideas around here—we've got a supportive community ready to help out.