Are you searching for real estate investing information online? If so, you’ve come to the right place!
Thanks to 2017’s Tax Cuts and Jobs Act, one of the top real estate investing opportunities in the United States are Opportunity Zones.
Not familiar with Opportunity Zones? No problem! In this article we will provide you with tips on investing in O Zones so you can have confidence is this is the right type of real estate investment for you to make or not
What Is an Opportunity Zone?
An Opportunity Zone is a special classification that a city can give to certain neighborhoods or areas with the specific goal of stimulating economic growth from investors who might not be motivated to invest in real estate or those areas in general.
The key attraction of Opportunity Zones is much like a 1031 Exchange, an investor can sell one property then defer paying capital gains on the sale of their property for 7 years by investing the proceeds of the sale into an Opportunity Zone.
As of April 2019, there are currently 79 Opportunity Zones spread out across 138 tracts across the State of Massachusetts and many more nationwide since they can be found in all 50 states including Puerto Rico.
What to Do Before Investing in An Opportunity Zone
Before investing in an Opportunity Zone make sure you understand the area where you plan on investing including the demographics because it doesn’t make sense to invest unless you know that the area is recovering economically and has a lot to offer.
If you’re investing in rental properties that are located in Opportunity Zones, make sure that the properties are located close to public transportation, shops, stores, schools and other things that your potential tenants would be interested in.
Most important of all, to pull it all together, when you invest in an Opportunity Zone, especially a rental property, you should hire a property manager to manage your rental property for you.
A property manager will save you the time, money and hassle of managing your rental property yourself and provide you with a full suite of services including rent collection, customer service, maintenance and more!
Contact Martin Property Management
To learn more about our property management services contact us today at (617) 957-0166 or click here to connect with us online.
