Everything I've learned about Opportunity Zones
I'm learning everything I can about the Opportunity Zone program introduced in the Tax Cuts and Jobs Act and thought I would share what I've been learning, the links I'm using on a daily basis, forum posts that have been helpful, and what I'm hoping to do next.
First, if you don't know know about Opportunity Zones and want to get up to speed quickly check out these links:
- https://www.youtube.com/watch?v=gmn19vSE-V4&t=2s
- https://www.irs.gov/newsroom/opportunity-zones-fre...
OZ summary:
- Opportunity Zones were introduced in the Tax Cuts and Jobs Act
- Incentivizes investment in economically distressed communities
- Deferred capital gains, reduction in capital gains tax realized for 5-7 year investments, and no capital gains taxes on gains from investments in Opportunity Zones for 10 year holds
- Opportunity Zone Funds can invest in operating businesses, equipment, and real property
Now you're probably wondering where these Opportunity Zones are:
- https://eig.org/news/opportunity-zones-map-comes-f...
- which links to https://esrimedia.maps.arcgis.com/apps/View/index.... (you can enter any address into the map search to see if it's in a zone)
Next you'll want to understand more about the tax benefits:
- https://www.biggerpockets.com/forums/104/topics/59...
- https://s3.amazonaws.com/fundrise-content/website-...
For real estate investing you'll want to understand the big gotchya:
- https://www.biggerpockets.com/forums/48/topics/601...
- http://uscode.house.gov/view.xhtml?req=granuleid:U...
Ok, so you're still interested and want to take advantage of Opportunity Zones! That's great, BUT we're still waiting on guidance from the Treasury/IRS:
- https://www.enterprisecommunity.org/blog/2018/07/g...
- https://eig.org/wp-content/uploads/2018/06/Opportu...
Next I'm hoping to start connecting with commercial brokers, CPA's, and Real Estate Lawyers that are interested in becoming Opportunity Zone experts.
I would love to see a dedicated Opportunity Zone forum on BiggerPockets, anyone else interested in having more detailed conversations? How might Opportunity Zones fit into your business plans and investing strategies? If you have other links please add them to this post! Thank you for your time.