Opportunity Zones How To Question

[David London]

Hi,

Just made an offer on a house located in an opportunity zone and trying to figures the particulars of how it works.

From my research I have some understanding of the big picture of the zones but am quite confused about the details.

The deal from what I see so far possibly qualify:

1. Located in an approved zone.

2. House is in need of some renovation (although condition is livable overall...and currently rented).

3. We are planning to sell stocks to buy the house.

My first question are:

1. Which properties in a zone are eligible properties?

2. How do one go about setting a Qualified Opportunity Fund? Do I need to buy the house as an LLC? I am planning to partially BRRR out after renovation and thus will probably be much easier if bought privately.

3. What is the timeline of the process? Do I need to do all before closing or can it be handled later?

Appreciate any links to resources that explain how individuals can take advantage of the opportunity zones...from my reading so far it seem to be more geared towards the larger investors then individuals.