Opportunity zone investing hasn’t always been around for real estate investors to take advantage of. But as the government began upping the incentives around this type of real estate investing, more tax-savvy investors started to pay attention. You may have heard of opportunity zones before, but you probably don’t know how much of a heavy hitter they are in the realm of tax reduction.
Someone who does know about opportunity zone investing is King Malaki Sims—CPA and avid real estate investor. He’s been buying and building homes in opportunity zones for years and makes the case that this type of investing truly is the best real estate “cheat code” out there. Through his simple strategy, Malaki has been able to not only defer taxes but in some cases, eliminate them entirely, just through simple, smart real estate investing.
Malaki shares how even a novice real estate investor can find, fund, finish, and furnish an opportunity zone rental property all while keeping Uncle Sam away from their hard-earned profits. If you want to build wealth without having to worry about 1031-ing your properties, Malaki is the man to listen to.
David:
This is the BiggerPodcast show 599.
King:
In my opinion, the opportunity zone law is the ultimate cheat code. It’s the best piece of tax legislation that I’ve ever seen in my 20-year career, in my life. I don’t think you’d find anything better. Most tax benefits deal with the deferral of taxes, so 401(k)s, 1031 exchanges, IRAs, all of that stuff. They ultimately kicked the can down the road. At some point, when you want to exit, you owe the government some money. The opportunity zone law is the only thing I’ve ever seen where at some point you don’t have to pay capital gains and you could sell your property and walk away tax-free, and also not pay depreciation recapture. All you have to do in exchange is build in the area, build a rehab in an area that the government wants you to invest in and hold it for 10…