All Forum Posts by: Matt Smith

Houston.

Why?  Because there is "No Zoning" in EaDo/Eastwood/Greater East End, one of the hottest markets in Texas.  Plus, most of it is dedicated Opportunity Zone.  The greatest real estate opportunity in over 50yrs is sadly not getting due recognition. It's a shame.

To be clear, EaDo/Eastwood/Greater East End is in a No Flood Zone and has no historical record of ever flooding.  Even during Harvey, this neighborhood did not flood, not even close.  Many investors in Houston are unaware of these facts.  Again, it's a shame.

My take away from this post, be it 3 years ago, is that you are not convinced that the offer is a great deal as it stands. A great deal is a great deal regardless of what the stated, or actual rents are on the property. If you're needing to see rent rolls on anything SFH then you're telling me you're not familiar with the area, and/or not convinced of the deal. Commercial Rent Rolls are a different story, but I argue the same. You've got to know a great deal when you see one as it is presented.

Not able to attend.  Happy investing!

Here is a list of Opportunity Zones in Texas.  Published on opportunitydb.com

https://opportunitydb.com/loca...

I like the Hwy 59/I-69 Corridor that runs South of Houston

I found out about OZs after making my most recent purchase back in March 2019.  I was disappointed that I hadn't heard of it before, since I do my best to keep up with all things real estate.

The main problems I've found is that seasoned professionals do not care much for this program, especially professionals in the commercial field who deal with 1031 Exchanges.  They are fixed on 1031s and will give every reason for not doing QOF/QOZ investment.

Other problems include confusion, disbelief, and frankly an attitude of authority that supersedes anything I have to present, or offer.  I've spoken with seasoned professionals who have not heard of it, so that's a problem, too.

All professionals have a fiduciary responsibility of informing their clients of the OZ program.  Failing to do so could result in their clients seeking legal recourse.

Hiccups from the local OZs is that most local businesses are not warming up to participating.  Many are confused, and others not interested.  And then the skeptics who assume it's some kind of scam.

Getting investors to kick in has also been challenging.  I feel most will look back in 5-10 years and complain that nobody told them about this program.  Time will tell.

A damn shame.  There are some professionals who owe it to themselves to learn up on QOZs and QOFs.  The first couple of comments were very wrong and misleading.  1031 Exchanges have become more strict.  And most who have trouble having the numbers pencil out in OZs are focused on major metro area new development.  Price is already high in those parts.  Rehabbing/recycling vacant properties is far more viable, and if those numbers are not penciling out, then it's most likely in a highly populated metro area where all the funds are honed in on...except for mine.

@John Vietmeyer 15% savings are gone.  Best you can do now is 10%.  You'd be surprised how many I spoke with regarding this strategy, and the great reluctance to consider it.  They really like 1031 Exchanges and for some reason couldn't see that QOZ investing is 1031 on steroids!

I had to backtrack to create my own fund after purchasing a property in a zone.  I didn't find out about the QOZ/QOF until after the fact, which is why this is permitted...being a new program and all.

Since there are very few areas that don't flood, why not seek out viable investments in those parts?  If in Houston, for example, the EaDo/Eastwood/Greater East End has no history of flooding.