OpenAI, a leader in artificial intelligence, has leased the entire 315,000-square-foot building at 550 Terry A Francois Blvd. in San Francisco’s Mission Bay neighborhood.

I set up a Fly buy program in San Francisco..

I wanted to see how everyone else is doing with their rentals in North County San Deigo.We have rentals in the Oceanside, Vista, Carlsbad, and San Marcos areas.We have noticed a shift in our vacancies.

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.

But that fresh start was excatly what he needed to rethink his approach.Have you considered looking into markets outside of San Francisco?

I see corrections in the market locally - this is the first time homes are selling below $1 million in San Francisco (it still needs a lot of work).

This year was even smaller than San Diego.  

I’d love to get your input on my options.Background:Age: 34Location: San Diego, CACurrent Living Situation: Renting a beautiful apartment across from the beach for $3,200/month.

Since then, our dad signed up for section 8 San Diego Housing so that he could at least have some guarantee of rent payments.Unfortunately, the new tenant from section 8 (Tenant B), has not been paying full rent since 2022.

I am a first time homebuyer looking to purchase a multifamily unit (duplex/3plex/4plex) in the San Antonio/ Boerne area.