Has anyone gotten into crowdfunded opportunity zone offerings? Fundrise has talked about it, but EquityMultiple is the first one I've seen with an offering. $50K min for Phoenix Metro Industrial. The tax benefits are quite attractive, but I'm not sure I'm ready to dip my toes yet.
I just checked Fundrise and they are accepting investments ($25K min) in their Opportunity Fund. I guess they are raising funds, but no actual investments yet. Correction: They listed two investments, but not much info provided.
Yeah, I've been waiting for more information before seriously considering this.
I sold a rental property in January. From what I know, I have 180 days to invest in a qualified opportunity zone to take advantage of the cap gain deferral so I've been monitoring for updates.
I think this might take longer than expected given the hesitation to invest in developing neighborhoods with lower median household incomes and such.
I haven't gotten anything from Fundrise yet, but will follow up.
I discovered a new site called Cadre that does crowd-funding RE and O-zone investments. They have one listed in LA for ~$200M ground-up mixed-use development! Seems like they target the bigger fishes with minimum investments of $50K.
My hesitation is similar. While deals are coming up, the ground-up development is riskier, coupled with what I believe is a slowing economy. The EquityMultiple deal is an industrial logistics warehouse development in an export zone in Phoenix area. Seems like a good prospect.
Also, I noted that Fundrise O-zone fund issues 1099-DIV, while others are K-1 partnerships.