July 13, 2024

HOUSE FLIPPING

The California Housing Speculation Act or Assembly Bill 1771, would be an additional income tax on the profit gain from a sale that occurred within three years of the previous sale.

Yes, this new California law proposal, if passed, would add an additional 25% tax on the gain from the sale of real estate beginning January 1, 2023.

California HOUSE FLIPPING

California HOUSE FLIPPING - California's Push Against Private Real Estate

If passed,  this proposed new bill would massively tax house flippers and speculators who buy and sell a house within three years! The bill has now moved to the California Assembly Committee on Revenue and Taxation.

Assembly Bill 1771, authored by Assemblyman Chris Ward (D-San Diego), would impose a 25% tax on all net capital gain from the sale or exchange of homes or properties.

Real Estate Investing is a very risky job that is easy to do when the market is in an upward trend and challenging when times are uncertain – similar to today’s real estate market.

No one knows if the economy will continue to increase or if we will see an economic crash that will crash the real estate market and we will see material costs plummet with lumber and other costs. However now we are seeing more and more challenges in Los Angeles with house flipping.

There is a new bill that will ban in some senses of the word – house flipping and real estate speculation. This bill would impose an additional 25% tax on all house flipping which would then bring net taxes on profits to roughly 66% in the state of California!

It is hoped that this proposed bill would put an end to rapid California real estate speculation and record breaking sales prices as more and more investors pull out of this real estate market.

Some think this new proposed bill will be the end of real estate investing and house flipping for small mom and pop property investors, but may lead the way for big pools of capital to simply come in and acquire these assets for lower valuations and hold on to these properties for a longer period so that they can sell them later or simply ride the wave in CA and keep them as long term rentals in their portfolio?

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San Diego Real Estate Website for sale

An  opportunity to purchase a two-decade old real estate site ( https://brokerforyou.com/brokerforyou/) centering on San Diego California. Besides a very unique and generic URL, the site has over a thousand pages of content which provides for easy updating and basic SEO techniques to regenerate it’s hi keyword standings for San Diego real estate.

  • www.brokerforyou.com is 24 Years old! The vast majority of search engine professionals agree that the age of a website is an important factor in the Google algorithm.

    There is also another undisputed factor in the ranking of websites. That factor, is the amount of unique specific content published on the website. So, it’s pretty hard for a two year old or a five-year-old or for that matter a 10-year-old website out rank a 24-year-old website that has 2 to 4 times the content.

    San Diego real estate opportunity  www.brokerforyou.com is for sale! if your real estate broker in San Diego California or thinking of expanding your brokerage business into San Diego, purchasing www.brokerforyou.com to give you a huge boost in becoming a player in the residential San Diego real estate market.

    Brokerforyou.com is for SALE

    Just like most major businesses, the easiest way, and the fastest way to expand your business and influence in your particular market is through strategic acquisition. Just look at Google, they are the number one search engine in the world! Google bought Youtube in November 2006 for US$1.65  billion! YouTube now operates as one of Google’s subsidiaries.

    www.brokerforyou.com is for sale and is offered with a very popular San Diego residential real estate channel with 1.16K subscribers and 114 videos!!

    What’s the approximately monthly cost to host a website?  With shared hosting, you’re hosting fee can break down to about 10 to $15 per month. To keep your url registered (that’s your site address), this is usually paid on a five to 10-year basis, which averages out to about just a dollar per month!  Naturally, if you add direct hook-up to a MLS database, that provides lead capturing, this costs can vary greatly from provider-to-provider.

    Interested, call Bob Schwartz (619) 286-5604 for additional information

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