All Forum Posts by: Mike Nuss

New Fannie Mae condo lending requirements have changed the game for small plex owners to convert apartments to condominium units as a great way to sell the building. Join us on Thursday, January 24 at 9 AM for our master class, Build Your Condo Conversion Power Team with Julee Felsman of Guaranteed Rate. Come learn everything you need to know on the new lending laws as well as all of the team members you need to be successful.

CE Certificates are available for licensed attendees.

Space is limited, so please RSVP using the ticketing here: http://rarebirdinvestors.com/masterclass/

**This event is for RareBird Investor Network members only**

New to the Investor Network? Come and check out a meeting, your first time is always FREE! OR Join Here: https://rarebirdinvestors.com/join/

Join RareBird on Thursday, January 10 at 9 AM for our master class, Using IRA Funds for Real Estate with David Moore of Equity Advantage. David will share how to help your clients and potential lenders use funds from their IRA accounts for real estate deals.

CE Certificates are available for licensed attendees.

Space is limited, so please RSVP using the ticketing here: http://rarebirdinvestors.com/masterclass/

**This event is for RareBird Investor Network members only**

New to the Investor Network? Come and check out a meeting, your first time is always FREE! OR Join Here: https://rarebirdinvestors.com/join/

Join RareBird on Thursday, December 13 at 9 AM for our master class, "The Real Deal About Probate & Trusts" with Melissa May of Duffy Kekel LLP. Melissa will walk us through the process for acquiring property from a deceased owner, whether the property was owned by the decedent, is subject to probate, owned by a trust, or any number of other combinations. She will talk about potential pitfalls and delays, and strategies for minimizing both.

Duffy Kekel LLP offers estate planning, probate and trust administration, advising charitable organizations, tax dispute resolution, real estate transactions, and advice, business counsel, and retirement planning.

**This event is for RareBird Investor Network members only**

New to the Investor Network? Come and check out a meeting, your first time is always FREE! OR  Join Here:

Hello fellow Portland BP'ers. 

Come have a drink or two on us. Portland has an amazing real estate investor community and we would like to host an informal gathering for us all to meet on Thursday, November 29th from 4:30 to 6:30 PM at the RareBird Office.  No presentation at this meet-up - it's just a chance to network. Enjoy beer, wine, and light snacks! 

For more information on this Portland Oregon BP Meet-up, check out our event posting: https://www.biggerpockets.com/forums/521/topics/63...

Looking forward to seeing you all soon! 

@Adrian Chu no, the OZ property purchase has to happen after the OZ fund has been created.  There is an allowance to retain 20% ownership in an OZ property after selling it to an OZ fund though. 

@Bill B. OZ zones/funds actually work best for new construction (very easy to meet "significant improvement" requirements) , so long as the project can be completed within 30 months (needs to be occupied in 31 months). 

Like @Jay Hinrichs stated, the project (oz fund) must be funded by a capital gains event (you can use outside funds, there's just no benefit to doing so). However, that cap gains event doesn't have to be in 2018 or 2019 though. That cap gains event can happen anytime by end of 2027. Funds need to be invested by end of 2019 to get all of the benefits of the OZ zone though. Or end of 2021 to get partial benefits. Or 2027 for a longer term basis play in the new investment. 

Also, Jay, thanks for the kind words as always. We try to bring extreme value for a low cost (which I think we have a rep for). We just had a 2019 planning meeting so I'll be reaching out to you soon to get you on the calendar for our "fireside chat". 

@Jay Hinrichs yeah there's this little market called the Pearl District, Downtown, Central Eastside and Albina, all making up one of the larger zones in Portland. Rockwood has a good size zone and Gateway does as well. All in all there is quite a bit of property in the local zones. 

The vehicle works best for 10+ year holds for sure and the "significant improvement" requirements will make it tricky for low experienced developers to be successful. This really is a double edged tax code. A lot of people can potentially make a lot of money......or they could get taken big time by not actually qualifying for the exemption in the end. 

@Aaron Nelson yeah, this will be a good one, especially since the initial round of guidance came out this week. A lot of questions have been answered. 

No need to rsvp, just show on up. There will be a quick sign in.....and a ticket for a free beer or pizza at the door. 

@McKenan Steinbeck our (RareBird Investor Network) meetings are on the 2nd Thursday of the month, which means we're not far away from our November 8th meeting. 

We're also planning on hosting a BP meetup here soon as well (no real agenda, just hosted networking). I'll be posting details on that in the next few days. 

@Mathew Wray

@Mathew Wray thanks for the shout out!

@Everett Hill definitely. 

Thursday November 8th. Networking starts at 6:15pm. Presentation starts at 7:00. Networking again from around 8:30ish until they kick us out (usually around 10:00). 

We are upstairs in the private event space at Lucky Lab, 7675 SW Capitol Hwy Portland, Oregon 97219

I look forward to meeting you in person!