Opportunity Zone V/S 1031 Exchange

[Soumya Brijesh]

Hello All, 

I came across Opportunity Zone topic while chatting with someone and wanted your thoughts on it. 

Here is my situation, I am selling a (Multifamily) property in Ohio to bring my next investment(Multifamily again) close to where I live. My area is considered as an "Opportunity Zone". My gain from my current sale is in the range of $150k. I was initially thinking of doing a 1031 Exchange as a popular strategy to save on taxes. 

But then the topic of Opportunity Zone came up. I am told this may be a better option since I plan to hold my next investment for at least 10 years.  Let me know what you guys think and might be a better strategy for long term wealth?

All I got from talk was after 10 years opportunity zone don't have any taxes on the sale. 

[Remington Lyman]

Originally posted by @Soumya Brijesh:

Hello All, 

I came across Opportunity Zone topic while chatting with someone and wanted your thoughts on it. 

Here is my situation, I am selling a (Multifamily) property in Ohio to bring my next investment(Multifamily again) close to where I live. My area is considered as an "Opportunity Zone". My gain from my current sale is in the range of $150k. I was initially thinking of doing a 1031 Exchange as a popular strategy to save on taxes. 

But then the topic of Opportunity Zone came up. I am told this may be a better option since I plan to hold my next investment for at least 10 years.  Let me know what you guys think and might be a better strategy for long term wealth?

All I got from talk was after 10 years opportunity zone don't have any taxes on the sale. 

 Here is my information folder on opportunity zones in Columbus, Ohio - https://drive.google.com/drive...