Opportunity Zone investors in Philadelphia

[Bradford Behrins]

Hey BP. Does anyone know of any Opportunity Zone Funds that purchase and develop SFRs/duplexes/Triplexes/Quads in Philadelphia? I heard through the grapevine one fund purchased up a bunch of properties in Strawberry Mansion earlier this year, but not sure if there are individual investors out there looking for properties to utilize the benefits of investing in an Opportunity Zone Fund. For those investors who do not know, essentially Opportunity Zone Funds purchase and develop properties in designated Opportunity Zones. The proceeds of the investment can come from the gains of another investment that is not real estate related; for example, you sell x number of shares of Microsoft and you have a 100K gain. You can defer a large portion of that gain if you invest in an opportunity fund that purchases and develops properties in an opportunity zone. There are tons of legal requirements and criteria that must be met and I am not an accountant or legal expert so I do not want to get into the details. There are tons of podcasts out there about Opportunity Zones that you can review on your own. Maybe Brandon and David should have an expert on Opportunity Zone Funds on their show?? Anyhow, I am just looking to start a conversation with anyone actively doing this kind of investing in Philadelphia. Thanks.