Wow. Our recent post about Opportunity Zones (OZ) generated a lot of response from folks interested in learning more. We are happy to oblige.
Many of you already know that NavCap has a limited number of investment properties available for sale on our website. These properties have already been vetted and appraised and are offered via expedited sale. We have noted the properties located within an Opportunity Zone so that you may factor the potential tax savings into your ROI calculation. Of our current properties, 14 Whist Place in Capitol Heights, Maryland falls into an OZ.
Having already highlighted the specific tax benefits of the zones and how to find them, we want to make sure you know just how easy it is to get started. You don’t have to live, work, or operate a business within an OZ to take advantage of the program. Anyone with qualifying capital gains can make an investment.
You may be wondering—why should I bother with Opportunity Zones? Rather than bog you down with details about capital gains and deferred taxes, we thought we’d give you a real-world example.
So asked one of our clients, Dana Long of NextGen Wealth Builders, to tell us her story.
A long time federal contracts manager turned real estate investor, Dana discovered Opportunity Zones while she was looking for businesses within HUB (Historically Under-Utilized Business) Zones. Recognizing the potential for wealth building through tax deferral, she created an OZ Fund in August 2019 and funded it with capital gains from a recent fix and flip. With the backing of additional investors, Dana went on to purchase a Temple Hills property in an OZ which she sold in July 2020.
On the hunt for more OZ properties, she reached out to Navigator Private Capital in February 2020 for help. A quick search of our available properties turned up 2221 Callow Avenue in the Reservoir Hill neighborhood of Baltimore. Recognizing the potential in the property, Dana and her team purchased it and turned it into a showstopper. It’s currently on the market for $399,000 and won’t last long.
Have we piqued your curiosity about Opportunity Zones? Or maybe you have questions about real estate investing in general or need a no-obligation quote. Reach out to us today at info@gonavcap.com or 443.603.0193. We are happy to help!