Summary:
In this episode of The Perfect Property, Juli talks with CPA John Mangham. John, known as “The 1031 Guy,” has been in real estate in Atlanta since the mid-80s. He is a fulltime real estate broker and knows all about the topic of this episode: opportunity zones.
Juli and John talk about what opportunity zones are and what a great investment they can be! John explains where the idea of opportunity zones came from and how these investments can benefit homeowners and investors. He also covers 1031 exchanges, explaining what they are in layman’s terms and how they relate to opportunity zones. You’ll also hear John and Juli discuss Atlanta’s market when it comes to opportunity zones.
What You’ll Learn:
· What is an opportunity zone? (0:31)
· Stock and bonds versus opportunity zones (1:20)
· Who created the idea of opportunity zones? (2:55)
· The opportunity zones around Atlanta (3:50)
· How to find opportunity zones (4:27)
· What is the benefit for homeowners and investors? (5:37)
· Are opportunity zones good for the average house-flipper? (10:17)
· How have opportunity zones been defined? (11:04)
· What happened in southwest Atlanta during the downturn? (13:44)
· Opportunity zones are long-term (20:55)
· What is a 1031 exchange? (22:31)
· Are people using crowdfunding for opportunity zones? (30:25)
· Looking at the opportunity zone maps (32:40)
· Who is the perfect candidate to buy in the opportunity zone? (33:34)
Key Points:
“The opportunity zones allow investment coming from non-real estate arenas.”
“There’s never really been an opportunity, so to speak, to transfer money out of the stock market arena into the world of real estate until now. And the incentives that have been put in place for people to transfer their profits from stock market gains is this OZ (opportunity zone) fund opportunity.”
“The idea is we’re transferring money out of a stock market deal or a stock market sale where there’s profit and those capital gains can be put in opportunity zones.”
“It’s a benefit to investors; it’s a benefit to the risk-takers who choose to invest their money in these blighted or non-performing areas.”
“The benefit to homeowners will not be a direct tax benefit, but rather the benefit that happens if they live in an opportunity zone is that that zone is going to get an injection of capital.”
“30310 became recognized nationally as the second-hardest hit zip code in the country.”
“It has drawn people who have typically been investors in equity and bonds (stock market investors), it has drawn them to start looking at real estate.”
“Making an improvement to what you buy is part of the regulation.”
Links:
Juli’s Email: juli@theperfectproperty.com
Juli’s Phone Number: 404-668-8975 (call or text)
The Perfect Property Website. www.theperfectproperty.com
Opportunity Zones www.arcgis.com
John’s Email: jwmangham@gmail.com
Epicity Real Estate Services: www.epicity.com
https://linktr.ee/julistgeorge
