My partner and I have been remolding both of our homes with the goal of making them both rental properties, but the process has been long. 

My biggest mistake was underestimating the cost of renovating a home and the amount of time it would take me to do it myself.

She'll be presenting a variety of topics and open discussion, with the goal being "Make your STR stand out in a competitive market".What additional topics or specific questions should we be sure to answer that you wish you knew when you started buying STR's? 

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.

Hi BP -- I have learned so much from this community so far, thanks so much to allI have a 3 family in a nice, A- area of Providence.

Speak with the commercial lending department as it's 5 units.If those are the numbers, you may be able to do a deal like 50k down from you, 50k contribution in the form of seller financing (2nd mortgage), and then the bank can provide the rest including purchase + rehab financing. 

Two questions:1) For those familiar with the area and demand, who has utilized a short-term rental management company in the Bremerton, Silverdale area of Kitsap County and what has your experience been like? 

Yes, lots of experience.

From 6 years of being in real estate, I’m far from an expert, but the three regrets I hear the most are:1) I wish I started sooner2) I wish I bought more3) I wish I never soldMy takeaways from these stories are1) Start today2) Buy Smart3) Think long-term

🇺🇸❤️🇮🇹 South Florida Market Stats for Miami Dade for the Month of August 2024 (My study blog)Miami's real estate market is always buzzing, but August 2024 brings some exciting changes that savvy buyers and sellers need to know about.