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15 October 2024 | 1 reply
If we had gone through with the transaction and somehow obtained right of first refusal written notice, would the seller be legally held accountable without us forcing litigation?
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11 October 2024 | 2 replies
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.
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17 October 2024 | 2 replies
I'm sure it would help a lot of investors, new and experienced, who are looking at multifamily projects in the Carolinas.
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9 October 2024 | 21 replies
Personal mentoring would be an “upgrade” to a much higher fee, upwards of $40,000 which, for most people wouldn’t actually provide any additional value anyway.
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12 October 2024 | 12 replies
A single member LLC is not as big of a deal, but once there is a partner involved, an attorney needs to be as well.
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14 October 2024 | 5 replies
Hello,I'm trying to figure out what I should be expecting/getting from my agent?
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11 October 2024 | 11 replies
Also, It can’t be subdivided and the duplexes won’t be able to be sold off individually.
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11 October 2024 | 10 replies
He says his average repair is $150-$175.The rental range for my units are $2300-$2550 (the latter would be with a dedicated laundry set up).
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11 October 2024 | 3 replies
I had thought the process would be an engineering firm.
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13 October 2024 | 5 replies
I have properties—vacant lots—that I will be wanting to sell in the future that I bought at tax sales and come with quitclaim deeds.