And what I mean is that I see people buying turnkey STR's and cash flowing but I don't see the numbers working if there's a mortgage.

It will take many months to remediate and rebuild.

I do look to grow beyond two properties, but not necessarily at a rapid pace.Finally, if I were to do this, what are the proper steps in forming an LLC and then transferring them into that entity?

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.

Find a drafter that's familiar with construction and codes.

Going to agents will spin your wheels and is not worth it.

You have to be willing to move from the sidelines and enter the arena. 

Here’s a breakdown of how the BRRR method works and why it could be a game-changer for your investing journey.1.

For anyone who may have insight, I am curious if there are benefits that outweigh disadvantages or vise versa to obtaining an LLC when specializing in Wholesale. I am sure it may be more advantageous with fix & fl...

I'm new to the community and located in Edmonton, AB.