California is implementing an insane new 25% capital gains tax on real estate investment profits that will kill the housing market, house flipping and real estate investing in the state. This is in addition to all of the crazy taxes already imposed by California. It’s no wonder that everyone is leaving the state, including me as I left last year. Let’s take a look at how the tax will work and run through an example.
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⏰ TIME STAMPS!
00:00 The DEATH of House Flipping! California’s INSANE NEW TAX Will Kill Real Estate Investing!
01:42 California’s crazy new house flipping tax
02:37 Assembly Bill 1771 – What it says
04:26 California’s crazy theory behind this tax
06:49 What effect would this have on CA home flippers?
08:58 Average cost of a flip in California
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I’m Danny Batsalkin aka DIMA and if we’re just meeting, I’ve been a real estate broker for over 15 years, I’m a real estate and business coach, and former attorney. My passion and mission is to help you make better decisions in real estate, business and finance, and achieve all of your goals! Be sure to SUBSCRIBE to my channel and hit the bell icon so you get notified of all my new, awesome weekly content: https://link.dannybat.com/youtube.
Products, links and items that are referenced in this video or in the description above may be affiliate links. If you purchase a product or service using these links, I may receive a small commission at no additional charge to you. Thank you for supporting my channel so that I can continue to provide you with awesome content each week! Danny Batsalkin is a licensed real estate broker in California and is affiliated with Compass. CA DRE # 01421366. All information provided in this video is for informational purposes only and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. I advise you to consult with your legal, real estate or tax professional prior to making any decisions in these areas.
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