WS1608: All About Opportunity Zones and 1031 Exchanges | Jimmy Atkinson

To take advantage of benefits, you need to act fast! Today’s guest, Jimmy Atkinson, discusses the benefits of Opportunity Zones and how they compare to 1031 exchanges. He shares how Opportunity Zones offer significant tax advantages and can be a better option for investors looking to diversify their portfolios and invest in alternative projects.

In this episode, Jimmy helps you determine if it's the right investment strategy for you as he shares his knowledge and insights about opportunity zones and how investors can take advantage of this investment opportunity. Tune in now and explore the tax advantages of investing in a qualified Opportunity Fund and compare the two popular tax incentives!

Key Points From This Episode: 

• Jimmy shares the steps he took to get to where he is right now and for him to decide that commercial real estate is for him.
• Jimmy explains what exactly opportunity zones are.
• How do you know you’re operating in an opportunity zone and how to find them.
• Why should you consider investing with an operator in an opportunity zone?
• What is the tax incentive for qualified opportunity funds?
• The difference between opportunity zones and 1031 exchange.
• How the current economy is affecting Jimmy’s plans with opportunity zones.
• How is Jimmy prepared for a potential downturn when looking for projects?
• Jimmy’s best source for meeting new investors right now.
• The challenge Jimmy and his business is currently facing.
• The most important metrics that Jimmy tracks professionally and personally.

Tweetables:

“You essentially get to eliminate your capital gains liability on your opportunities on investment, so long as you hold it for 10 years.” - Jimmy Atkinson

“The second big benefit is that you get to eliminate capital gains liability completely on the appreciation within your opportunities on investment.” - Jimmy Atkinson

“Opportunity zones get extended and possibly even made permanent at some point down the road here but it would take an act of Congress to do that.” - Jimmy Atkinson

“Opportunity zone by the very letter of the law and by the regulations that define what can qualify as an opportunity as an investment, they can't be poor or poor plus holdings, they actually have to be substantially improved or ground-up construction.” - Jimmy Atkinson

“We don't do a lot of outreach lo

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