Stash your cash? Opportunity Zones...
Hi BP community,
Turning to the pros here in OZ. As I mentioned in a previous post, we entered into a PSA with an affordable housing dev group. When the list came out from the state of all applicants we shook out #3 out of top 6. Our likelihood of closing seems better than not. With that being said, we are trying to wrap our heads around what to do with a capital gains exposure of $5M. Before anyone comments on TIC or NNN, we are aware of these options. More what peaks our interest is OZ, OZ Funds, and OZ Businesses. Would anyone here with experience in these areas be up to connecting via phone? Our initial thoughts are to form our own OZ fund or our own OZ business here locally and develop OZ projects (as we originally intended). We definitely want to be more hands on with the funds than not. Lots of places to find information on google (we've already filtered through a ton of content) but I figured I would try and find a real person on BP, not an advertising OZ company on google. I've had at least 20 hours of legal conversations about the different entity structures options but hopefully someone here can provide a little insight. The thought is to gradually bring in investors to our fund as we develop larger projects.
I hope all is well with everyone in this crazy low mortgage rate time.
-Dean