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.

I'm a GC who now only flips. 

We ended up flipped that property and made some money, thanks to the market price went up quickly during pandemic.

Any advice on where to find a good GC or the name of one that does fix and flip work.

We found private money from our network to close it and find end buyer who flipped it.

I have flipped 1 house per year for the last several years.

I would look at real comps, and if your exit strategy is to flip in a few years, it may be a problem if you paid more than the market will give you.If you're looking to hold and are comfortable with the tenant, then I would consider itGino

Rehabs are such a rewarding way to get into real estate—that's how I started too (flips)!

Investment Info:Single-family residence fix & flip investment.

In my view, if there was a reason that it was overpriced, it was that the ancient inventory was not being fully upgraded when flipped to owner occupants.