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Episode 59: California's House Flipping Shakeup: AB 968 and the Future of Real Estate Investing
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In this weeks episode of the "Live Life by Design" podcast, our hosts sound the alarm on Assembly Bill 968. This new law, which took effect on July 1st, 2024, introduces stricter regulations for house flippers in the Golden State. Our hosts break down the key provisions of the bill, including the requirement for comprehensive disclosure of repairs and renovations on properties flipped within 18 months of purchase.
This episode takes an impassioned turn as our hosts express their frustrations with the new legislation. They argue that AB 968 may have unintended consequences, including, potentially driving up housing costs and making it more difficult for small-scale investors to operate. Our hosts discuss how the law might impact various players in the real estate market, from contractors to wholesalers, and even touch on the potential need for investors to "lawyer up" to ensure compliance.
As the episode unfolds, our hosts share personal anecdotes and insights from both the investor and contractor perspectives. They explore the challenges of balancing profitability with quality work and fair pricing in the face of increased regulations. The conversation also touches on broader issues of doing business in California, with the hosts lamenting what they perceive as an increasingly difficult environment for small businesses and entrepreneurs.
Despite their criticisms of the new law, our hosts emphasize the importance of adapting to change. They reference the episode's quote from Albert Einstein about solving problems with new thinking, encouraging listeners to get creative in their approach to real estate investing. The hosts suggest that investors may need to reconsider their acquisition strategies and pricing models to navigate the new regulatory landscape successfully.
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