All Forum Posts by: Raza Rizvi

Hello investors, I heard that QOF were getting an extension due to Covid. I had the following question to determine if I am still within the window to take advantage of deferring my taxes or not. I still haven't filed my 2020 taxes and have an extension till October 

Date I sold my stocks September 2020

QOF created : 10/28/20

I plan to invest the cash in real estate. I have identified the property to invest in but was wondering if it was too late. Can someone shed light on this? 

@Jacqueline Gardiner i did set up my opportunity fund and have purchased a property under it.

For the Opportunity Zone one has to deduct the land value and invest 100% of the structural value into the property to comply.

Can someone please help me understand how one can determine the land value? The information in Trulia (land, structure, improvements etc.) is way off. What are other folks doing to figure this out.

Any help would be appreciated. Thanks

@Scott McIntosh - thank you, this is really good information.

Hello, I had a question regarding my qualified opportunity fund. I sold a property back in July 2019 and created a QOF and transferred all the capital gains in that fund back in Dec 2019. I understand there is an extension for investors due to COVID 19. My question is, how much time (if any) do I have to purchase the real estate investment in the OZ? Or have i lost my window of opportunity on July 15th? I came across this article that gives me hope. Hoping someone will be able to help me address my concern. Thanks 

https://therealdeal.com/2020/06/05/opportunity-zones-investors-get-a-covid-19-lifeline/

Hello,

My neighbor’s boiler leaked and water has entered my rental property and ruined part of the floors. What should be my course of action.

1. Should I contact their insurance company myself? I received their info

2. Get my insurance company involved and let them handle it?

1st time dealing with this so any feedback is welcome. Thanks

Hello fellow investors,

Hoping someone can provide some guidance. I have a qualified opportunity fund set up and have till May 22nd to purchase a property since I plan to invest in real estate.

My question is regarding being 90% vested in the opportunity fund. It is my understanding that one has to invest 90% of the capital gains into the purchase of the property. So for the ease of math and explanation let’s assume the property i am planning to purchase in the OZ is worth 70k and I have a 100k in capital gain/in my QOF.

Once i purchase the property at 70k, my understanding is that i will immediately have to put in another $20k in repairs to meet the 90% mark before May 22?

The remaining 10% in upgrades can happen in the next 30 months? I understand the land value deduction but let’s leave that aside for now.

Is my assumption correct or can I purchase the $70k property and wait to do the repairs & not worry about the 90% rule before May?

Thanks in advance for the help

Hello fellow investors,

What is everyone's opinion on foreclosures.com? Is it worth the price?

Also any suggestions where I can run a run a preliminary title, lien and other due diligence search that won't break my bank before I bid on a property? I can't imagine folks spending hundreds of dollars on properties to do a title search that they will possibly not acquire.

A newbie in the auction area and any help would be appreciated

Thanks

Hello,

Can one purchase a condo in an OZ for tax deferral? Or does it have to be a single or multifamily? 

If I can purchase a condo, does anyone have any tips of calculating the land value? 

Any help would be appreciated. Thanks

Thanks Chris! Not sure where to find these kind of opportunities.