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.

Much of my money goes towards buying land and reselling, revenue is slow but I have accumulated enough land as assets now.

At this point, the earnest money has been collected, and we were under contract to close on that day.. the original seller then tries to resell the property through another wholesaler that i happen to know personally.

Start looking at single families that you could purchase/renovate/resell to build up the cash needed for a larger downpayment on a multifamily.

Are you going to rent it out or resell it? 

Or another tactic they use they re-sell the asset to another GP.

Keep in mind that if you want to get a loan while you're a contract purchaser your lender will probably not be able to get a title policy since you don't own the property and cannot put a lien on it.Also, since you'll need a deed from your seller when you're ready to resell, what do you do if he's in the wind since he's already been paid in full?

You are at risk if you start rehab before that period, and/or try to resell the property before that.Some if not most people think, well there was no homestead exemption filed, so there is no homestead. 

These things hold their value amazingly well.If I had to guess, if you bought it for 40k and only used 9 or 10 times, the hours on the machine would be so low you could probably resell it for 35k or better (given that their retail value would go up over three years so the discount from say 48k to 40k might even mean you break even)..

Buy a value add, improve property and rents, resell for the gain.4.