Grasping Opportunity Zones: Investor Network Meeting

Portland, Oregon

Real Estate Events & Meetups

Grasping Opportunity Zones: Investor Network Meeting

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When:11/08/18 06:15PM - 09:00PM America/Los_Angeles

Where:We are upstairs in the private event space at Lucky Lab, 7675 SW Capitol Hwy Portland, Oregon 97219

Cost:Free

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Mike NussPro Member

Real Estate Entrepreneur · Portland, OR · Member since 2014 · 451 posts · 327 votes

Join the RareBird Investment Network on November 8 and learn about Opportunity Zones, the capital gains incentive buried deep in the 2017 Tax and Jobs Act. Come and find out the why, how and where you can get special capital gains tax treatment for investing in these designated communities. RareBird's own Mike Nuss will dive deep into the details and explore ways to use this new tool to benefit you and your community

Networking begins at 6:15 PM and the presentation starts at 7:00 PM.

The RareBird Investor Network meets on the 2nd Thursday of every month at to discuss the topics related to real estate investing. New to the Investor Network? Come and check out a meeting, your first time is always FREE!

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Everett Hill
Reno, NV · Member since 2014 · 2 posts · 0 votes
7y
@Mike Nuss Hey Mike, could I get the information for the meeting? I am interested in attending. Thanks, Everett
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Mike NussPro Member
OP
Real Estate Entrepreneur · Portland, OR · Member since 2014 · 451 posts · 327 votes
7y
@Everett Hill definitely.
Thursday November 8th. Networking starts at 6:15pm. Presentation starts at 7:00. Networking again from around 8:30ish until they kick us out (usually around 10:00).
We are upstairs in the private event space at Lucky Lab, 7675 SW Capitol Hwy Portland, Oregon 97219
I look forward to meeting you in person!
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Aaron NelsonBusiness Member
Real Estate Agent · Seattle, WA · Member since 2016 · 307 posts · 191 votes
7y
Great topic! I might drive down from Seattle for this one! Do we need to RSVP or just show up?
[email protected]425-880-2580
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Mike NussPro Member
OP
Real Estate Entrepreneur · Portland, OR · Member since 2014 · 451 posts · 327 votes
7y
@Aaron Nelson yeah, this will be a good one, especially since the initial round of guidance came out this week. A lot of questions have been answered.
No need to rsvp, just show on up. There will be a quick sign in.....and a ticket for a free beer or pizza at the door.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
7y
mike are there OP zones in Portland metro ??? I am at a conference in VEGAS this week and the subject came up for commericial deals in the mid west were there seems to be a lot of these zones.
also what we learned was that .. if you have a capital gain this year you can roll it into a OPP zone you must keep the property for a certain amount of years 5 to 10 and you must do more improvements on the property than the cost of it.. so you jsut can do a buy and hold you have to do a buy and improve.. but thats what I gleaned from it.
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Mike NussPro Member
OP
Real Estate Entrepreneur · Portland, OR · Member since 2014 · 451 posts · 327 votes
7y
@Jay Hinrichs yeah there's this little market called the Pearl District, Downtown, Central Eastside and Albina, all making up one of the larger zones in Portland. Rockwood has a good size zone and Gateway does as well. All in all there is quite a bit of property in the local zones.
The vehicle works best for 10+ year holds for sure and the "significant improvement" requirements will make it tricky for low experienced developers to be successful. This really is a double edged tax code. A lot of people can potentially make a lot of money......or they could get taken big time by not actually qualifying for the exemption in the end.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
7y
Originally posted by @Mike Nuss:

@Jay Hinrichs yeah there's this little market called the Pearl District, Downtown, Central Eastside and Albina, all making up one of the larger zones in Portland. Rockwood has a good size zone and Gateway does as well. All in all there is quite a bit of property in the local zones.
The vehicle works best for 10+ year holds for sure and the "significant improvement" requirements will make it tricky for low experienced developers to be successful. This really is a double edged tax code. A lot of people can potentially make a lot of money......or they could get taken big time by not actually qualifying for the exemption in the end.
thanks Mike i know its a timing issue... and reminds me of when i invested int the Go zone in the deep south post Katrina. many got fubared on that one.. but many did very well. keep up the great work.. you guys are the best there is in PDX thats for sure.
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Bill B.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
7y
@Jay Hinrichs
Hey Jay,
Is it your understanding that building ground up would qualify? I’m still considering building something like a short street/cul-de-sac of fourplexes. Is it your understating building those in a vegas O-zone would qualify?
Thanks for any opinions.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
7y
Originally posted by @Bill B.:

@Jay Hinrichs
Hey Jay,
Is it your understanding that building ground up would qualify? I’m still considering building something like a short street/cul-de-sac of fourplexes. Is it your understating building those in a vegas O-zone would qualify?
Thanks for any opinions.
I suspect so not an expert.. what I learned yesterday at the event I was at.. you need to have cap gains THIS year.. and then invest in an opp zone.. this year.. now this could be wrong.. but its just not buy prop in a opp zone.. you have to have cap gains from something else to roll into it.. ??? so if you sold a bunch of your property this year . and sitting on cap gain or if you sold your gold holdings this year and have a cap gain or if you sold stocks bonds etc.. that was my understanding so please don't take it as my normal response were I am never wrong but sometime rarely correct LOL
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Mike NussPro Member
OP
Real Estate Entrepreneur · Portland, OR · Member since 2014 · 451 posts · 327 votes
7y
@Bill B. OZ zones/funds actually work best for new construction (very easy to meet "significant improvement" requirements) , so long as the project can be completed within 30 months (needs to be occupied in 31 months).
Like @Jay Hinrichs stated, the project (oz fund) must be funded by a capital gains event (you can use outside funds, there's just no benefit to doing so). However, that cap gains event doesn't have to be in 2018 or 2019 though. That cap gains event can happen anytime by end of 2027. Funds need to be invested by end of 2019 to get all of the benefits of the OZ zone though. Or end of 2021 to get partial benefits. Or 2027 for a longer term basis play in the new investment.
Also, Jay, thanks for the kind words as always. We try to bring extreme value for a low cost (which I think we have a rep for). We just had a 2019 planning meeting so I'll be reaching out to you soon to get you on the calendar for our "fireside chat".
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Adrian Chu
Real Estate Broker · Seattle, WA · Member since 2014 · 1k+ posts · 427 votes
7y
Is there a way for someone who already owns a project in an OZ to capitalize on this besides selling the property to another investor?
0 Reply
Mike NussPro Member
OP
Real Estate Entrepreneur · Portland, OR · Member since 2014 · 451 posts · 327 votes
7y
@Adrian Chu no, the OZ property purchase has to happen after the OZ fund has been created. There is an allowance to retain 20% ownership in an OZ property after selling it to an OZ fund though.
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