The Native Realty CEO shared his thoughts on the response from real estate investors to the key upcoming Opportunity Zone deadlines in a new article from Real Deal reporter Lidia Dinkova. Opportunity Zones — part of the 2017 federal tax overhaul — were created to incentivize investment in economically overlooked neighborhoods.
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“Fort Lauderdale broker Jaime Sturgis said properties in Opportunity Zones are not always an easy sell. A buyer looks at a property in an Opportunity Zone, considers using the program to help pay for upgrades but then bypasses the option, he said.
Stumbling blocks include requirements that set a minimum threshold for real estate improvements. In some cases, owners believe those would lead to “over-improving” a property, said Sturgis, founder and CEO of Native Realty.”