1 00:00:00,400 --> 00:00:04,280 Speaker 1: You just realized your business needed to hire someone yesterday. 2 00:00:04,800 --> 00:00:09,520 Speaker 1: How can you find amazing candidates fast? Easy? Just use Indeed. 3 00:00:09,960 --> 00:00:12,680 Speaker 1: Stop struggling to get your job posts seen on other 4 00:00:12,760 --> 00:00:16,439 Speaker 1: job sites. With Indeed sponsored jobs, your post jumps to 5 00:00:16,480 --> 00:00:19,000 Speaker 1: the top of the page for your relevant candidates, so 6 00:00:19,120 --> 00:00:22,119 Speaker 1: you can reach the people you want faster. According to 7 00:00:22,160 --> 00:00:26,120 Speaker 1: Indeed data, sponsored jobs posted directly on Indeed have forty 8 00:00:26,120 --> 00:00:30,040 Speaker 1: five percent more applications than non sponsored jobs. Don't wait 9 00:00:30,080 --> 00:00:33,519 Speaker 1: any longer, speed up your hiring right now with Indeed, 10 00:00:33,960 --> 00:00:36,200 Speaker 1: and listeners of this show will get a seventy five 11 00:00:36,280 --> 00:00:39,440 Speaker 1: dollars sponsored job credit to get your jobs more visibility 12 00:00:39,600 --> 00:00:45,320 Speaker 1: at indeed dot com slash pod Katz thirteen. Just go 13 00:00:45,360 --> 00:00:50,120 Speaker 1: to Indeed dot com slash pod katz thirteen right now 14 00:00:50,479 --> 00:00:53,040 Speaker 1: and support our show by saying you heard about Indeed 15 00:00:53,080 --> 00:00:57,400 Speaker 1: on this podcast. Terms and conditions apply. Hiring Indeed is 16 00:00:57,440 --> 00:00:58,080 Speaker 1: all you need. 17 00:01:05,800 --> 00:01:06,679 Speaker 2: Earners, Listen up. 18 00:01:06,920 --> 00:01:09,240 Speaker 3: When people all around the world first started going out 19 00:01:09,240 --> 00:01:12,560 Speaker 3: protesting this summer, you'd hear it over and over. This 20 00:01:12,720 --> 00:01:15,920 Speaker 3: time is different, But how and who are the people 21 00:01:15,959 --> 00:01:18,640 Speaker 3: trying to make it different? And give us new podcast 22 00:01:18,800 --> 00:01:22,680 Speaker 3: resistance posts, SAYI T John Thomas Jr. Brings us stories 23 00:01:22,680 --> 00:01:24,800 Speaker 3: from the front lines of the movement for Black lives, 24 00:01:25,040 --> 00:01:27,720 Speaker 3: told by the generation fighting for the Change. It's a 25 00:01:27,720 --> 00:01:30,280 Speaker 3: show about people refusing to accept things as they are 26 00:01:30,600 --> 00:01:33,480 Speaker 3: and how we can make sure this time really is different. 27 00:01:33,840 --> 00:01:42,240 Speaker 3: Resistance is out now, follow and listen for free on Spotify. 28 00:01:43,200 --> 00:01:49,240 Speaker 4: My graduates from my school being forced back drop Mike 29 00:01:49,320 --> 00:01:50,720 Speaker 4: Drop Backdrop. 30 00:02:01,560 --> 00:02:06,360 Speaker 5: Opportunity zones, from my understanding, is a way for economic 31 00:02:06,560 --> 00:02:12,240 Speaker 5: development and low to moderate income neighborhoods, right right, like 32 00:02:12,400 --> 00:02:15,200 Speaker 5: the hood, but it's not really just the hood. But no, 33 00:02:15,440 --> 00:02:17,840 Speaker 5: not just the hood, but around like kind of similar 34 00:02:17,880 --> 00:02:19,639 Speaker 5: type of that, right where they want to they want 35 00:02:19,680 --> 00:02:22,880 Speaker 5: to have businesses and real estate developments, and they want 36 00:02:22,919 --> 00:02:26,720 Speaker 5: to encourage people to put money into these areas that 37 00:02:27,080 --> 00:02:29,120 Speaker 5: may not be funded otherwise. 38 00:02:28,760 --> 00:02:31,480 Speaker 6: Right, right, correct, and to create jobs as well. 39 00:02:31,440 --> 00:02:32,079 Speaker 2: Right areas? 40 00:02:32,200 --> 00:02:34,440 Speaker 5: Okay, all right, So can we start at the beginning 41 00:02:34,480 --> 00:02:38,040 Speaker 5: as far as opportunity zones, like what exactly is it 42 00:02:38,080 --> 00:02:39,160 Speaker 5: and how does it work? 43 00:02:39,400 --> 00:02:41,160 Speaker 6: Well, the opportunity zone? 44 00:02:41,240 --> 00:02:45,840 Speaker 7: So all right, So, if you have capital gains from 45 00:02:45,919 --> 00:02:49,440 Speaker 7: a real estate transaction that you just sold, and you 46 00:02:49,560 --> 00:02:51,520 Speaker 7: have to pay taxes on that money, right, if you 47 00:02:51,520 --> 00:02:54,240 Speaker 7: don't put it into this type of opportunity zone fund 48 00:02:54,400 --> 00:02:58,040 Speaker 7: or ten thirty one exchange, which is another capital games 49 00:02:58,280 --> 00:03:01,079 Speaker 7: deferred mechanism right for real estate investors. 50 00:03:01,400 --> 00:03:03,160 Speaker 6: So if you sell something, you take that. 51 00:03:03,120 --> 00:03:05,040 Speaker 7: Money, you have to pay your capital gains taxes on 52 00:03:05,040 --> 00:03:06,400 Speaker 7: it right away if you don't put it into one 53 00:03:06,440 --> 00:03:10,680 Speaker 7: of these vehicles. But the opportunity zone fund is the 54 00:03:10,720 --> 00:03:12,880 Speaker 7: ten thirty one exchange on steroids. 55 00:03:13,160 --> 00:03:15,880 Speaker 6: So now can you talk about what ten thirty one exchanges? 56 00:03:15,919 --> 00:03:16,079 Speaker 2: Yeah? 57 00:03:16,160 --> 00:03:19,240 Speaker 7: Yeah, So a ten thirty one exchange is if you're selling, 58 00:03:19,360 --> 00:03:22,440 Speaker 7: say you have a commercial building twenty units and you 59 00:03:22,480 --> 00:03:26,040 Speaker 7: sell it and you make one hundred grand of profit, 60 00:03:26,400 --> 00:03:28,559 Speaker 7: right now, you have to pay gains. 61 00:03:28,240 --> 00:03:28,840 Speaker 6: On that money. 62 00:03:29,120 --> 00:03:32,520 Speaker 7: Now you put that money into the ten thirty one exchange. 63 00:03:32,680 --> 00:03:34,960 Speaker 7: That way you don't have to pay any taxes. You 64 00:03:35,040 --> 00:03:37,760 Speaker 7: deferm that capital gains taxes. But now with a ten 65 00:03:37,800 --> 00:03:40,240 Speaker 7: thirty one exchange, you have to buy a like conditt 66 00:03:40,400 --> 00:03:43,320 Speaker 7: property to the one you just sold, but you don't 67 00:03:43,360 --> 00:03:45,680 Speaker 7: pay any capital gains, you don't pay any taxes, you 68 00:03:45,720 --> 00:03:47,880 Speaker 7: can't touch any of that money, and you have six 69 00:03:47,960 --> 00:03:51,600 Speaker 7: months to close on a like condit property. That's what 70 00:03:51,680 --> 00:03:53,240 Speaker 7: you do with a ten thirty one exchange. 71 00:03:53,720 --> 00:03:57,320 Speaker 8: So in the opportunity zone that opportunity fund, that's what 72 00:03:57,360 --> 00:03:57,800 Speaker 8: this is. 73 00:03:57,960 --> 00:03:58,760 Speaker 6: That's what this is. 74 00:03:58,840 --> 00:04:01,760 Speaker 7: But the Opportunities Own Fund is a ten to thirty 75 00:04:01,800 --> 00:04:04,240 Speaker 7: one exchange on steroids. And what I mean by that 76 00:04:04,600 --> 00:04:06,640 Speaker 7: is that you cannot only put you can only you 77 00:04:06,680 --> 00:04:10,240 Speaker 7: can put real estate capital gains into it. But you 78 00:04:10,320 --> 00:04:13,880 Speaker 7: also can put if you sell stocks, bonds, art anything 79 00:04:13,920 --> 00:04:16,640 Speaker 7: that you will be taxed by the United States government 80 00:04:16,800 --> 00:04:19,880 Speaker 7: capital gains tax on, you can put into the Opportunity 81 00:04:20,000 --> 00:04:23,239 Speaker 7: Zone Fund and then from there you can invest into 82 00:04:23,279 --> 00:04:25,520 Speaker 7: an opportunity zone area. 83 00:04:26,760 --> 00:04:30,160 Speaker 6: Now from a tax perspective, this is how it works. 84 00:04:30,600 --> 00:04:32,560 Speaker 7: You put that money into the capital gain I mean 85 00:04:32,560 --> 00:04:34,080 Speaker 7: into the Opportunity Zone. 86 00:04:33,839 --> 00:04:37,080 Speaker 6: Fund, you get a discount. 87 00:04:37,160 --> 00:04:40,320 Speaker 7: If you keep it in that Opportunity Zone fund for 88 00:04:40,360 --> 00:04:43,240 Speaker 7: at least five years, you save at least ten percent. 89 00:04:44,279 --> 00:04:46,960 Speaker 7: You keep it in that Opportunity Zone fund for extra 90 00:04:47,000 --> 00:04:49,800 Speaker 7: two years, you get an extra five percent discount on 91 00:04:49,839 --> 00:04:52,880 Speaker 7: a capital gain. So you can save fifteen percent on 92 00:04:52,920 --> 00:04:55,360 Speaker 7: your capital gains. So if you have one hundred k 93 00:04:55,920 --> 00:05:00,240 Speaker 7: of profit year seven, you're only paying capital gain on 94 00:05:00,320 --> 00:05:01,080 Speaker 7: eighty five. 95 00:05:00,880 --> 00:05:03,080 Speaker 6: Thousand, not the full one hundred k. 96 00:05:03,440 --> 00:05:08,000 Speaker 7: Now, if you keep that op that investment into that Opportunity. 97 00:05:07,400 --> 00:05:09,240 Speaker 6: Zone for ten years. 98 00:05:09,320 --> 00:05:11,640 Speaker 7: And now let's just say you sell that property for 99 00:05:11,920 --> 00:05:16,840 Speaker 7: a million dollars, right, that nine hundred k of appreciation 100 00:05:17,000 --> 00:05:19,680 Speaker 7: and equity that you made money on is tax free, 101 00:05:20,040 --> 00:05:23,200 Speaker 7: and you still only pay your capital gains tax on 102 00:05:23,279 --> 00:05:26,320 Speaker 7: that original one hundred k, which is now eighty five 103 00:05:26,360 --> 00:05:29,800 Speaker 7: thousand because you've got that fifteen percent discount, whereas for 104 00:05:29,920 --> 00:05:33,479 Speaker 7: the ten thirty one exchange, it's you're still rolling that 105 00:05:33,520 --> 00:05:34,000 Speaker 7: money over. 106 00:05:34,200 --> 00:05:36,279 Speaker 6: You're still rolling that money over, and then. 107 00:05:36,160 --> 00:05:39,599 Speaker 7: Also all the proceeds from your sale goes into the 108 00:05:39,640 --> 00:05:42,320 Speaker 7: ten thirty one exchange, but with the Opportunity Zone Fund 109 00:05:42,680 --> 00:05:45,279 Speaker 7: only the gains portion, so you can get your initial 110 00:05:45,360 --> 00:05:50,000 Speaker 7: principle back and only invest the gain the gains portion 111 00:05:50,400 --> 00:05:51,880 Speaker 7: into the Opportunity Zone Fund. 112 00:05:51,880 --> 00:05:53,599 Speaker 6: So it's a little bit different than the ten thirty 113 00:05:53,640 --> 00:05:54,560 Speaker 6: one exchange. 114 00:05:54,160 --> 00:05:56,560 Speaker 7: Where all the proceeds have to go into that ten 115 00:05:56,640 --> 00:06:00,479 Speaker 7: thirty one change, but the Opportunity Zone Fund only the 116 00:06:00,520 --> 00:06:03,120 Speaker 7: capital gains portion, so you can get back your principle 117 00:06:03,200 --> 00:06:05,560 Speaker 7: that you put into whatever you put in. So if 118 00:06:05,600 --> 00:06:07,840 Speaker 7: you put a million dollars initially into your stock market 119 00:06:07,880 --> 00:06:09,560 Speaker 7: and you sold it at two million dollars. You can 120 00:06:09,600 --> 00:06:13,159 Speaker 7: get your initial million dollars back with the Opportunity Zone 121 00:06:13,200 --> 00:06:16,400 Speaker 7: Fund and only put that million dollars of gains into 122 00:06:16,480 --> 00:06:20,119 Speaker 7: the Opportunity Zone Fund and then invest into the opportunity zones. 123 00:06:20,279 --> 00:06:20,440 Speaker 2: Yeah. 124 00:06:20,600 --> 00:06:23,039 Speaker 7: Yes, so this things it accessible for the everyday person. 125 00:06:23,120 --> 00:06:25,479 Speaker 7: This is definitely accessible for the every day person. This 126 00:06:25,640 --> 00:06:29,239 Speaker 7: is a huge opportunity for anyone who's looking to invest 127 00:06:29,279 --> 00:06:31,520 Speaker 7: in real estate because even if you if you're a 128 00:06:31,560 --> 00:06:34,080 Speaker 7: first time investor. Right, my market is mostly first time 129 00:06:34,080 --> 00:06:37,440 Speaker 7: home buyers, first time investors, so even if they they're 130 00:06:37,440 --> 00:06:39,760 Speaker 7: looking to buy into their first property, what I try 131 00:06:39,800 --> 00:06:44,480 Speaker 7: to Coachham is buy in those opportunity zones because the investors, 132 00:06:44,720 --> 00:06:47,640 Speaker 7: the investors who have large capital, they're going into these 133 00:06:47,720 --> 00:06:50,200 Speaker 7: areas with tens of billions of dollars and. 134 00:06:50,120 --> 00:06:51,920 Speaker 6: They're improving these areas. 135 00:06:52,279 --> 00:06:52,559 Speaker 2: Right. 136 00:06:52,800 --> 00:06:56,080 Speaker 7: Another thing with the Opportunity Zone Fund and Opportunity zones, 137 00:06:56,279 --> 00:06:58,880 Speaker 7: in order for you to have a tax free you 138 00:06:59,080 --> 00:07:02,840 Speaker 7: have to prove the property, right, So you can't go 139 00:07:02,920 --> 00:07:05,080 Speaker 7: buy a Class A building and just sit on and 140 00:07:05,120 --> 00:07:07,040 Speaker 7: get the cash flow and ten year sell it and 141 00:07:07,080 --> 00:07:09,240 Speaker 7: you you are one hundred percent to all three. 142 00:07:09,560 --> 00:07:10,640 Speaker 6: It's a long term play. 143 00:07:10,760 --> 00:07:13,240 Speaker 7: So you have to go by the burntown building, the 144 00:07:13,240 --> 00:07:15,680 Speaker 7: building that needs a lot of renovation, and you have 145 00:07:15,800 --> 00:07:19,800 Speaker 7: to invest, Like say you paid a multi family of 146 00:07:19,840 --> 00:07:22,360 Speaker 7: million dollars for it right now, you have to go 147 00:07:22,720 --> 00:07:26,360 Speaker 7: develop that building for another million dollars in order for 148 00:07:26,400 --> 00:07:28,840 Speaker 7: you to see the long term, ten year, one hundred 149 00:07:28,840 --> 00:07:31,520 Speaker 7: percent tax benefit. So a lot of investors are going 150 00:07:31,600 --> 00:07:34,760 Speaker 7: to over improve these properties in the opportunity zone because 151 00:07:34,760 --> 00:07:37,880 Speaker 7: they have no choice because they're betting the long term 152 00:07:37,920 --> 00:07:39,840 Speaker 7: play earners. 153 00:07:39,880 --> 00:07:40,240 Speaker 2: What's up? 154 00:07:40,320 --> 00:07:42,800 Speaker 9: You ever walk into a small business and everything just 155 00:07:42,960 --> 00:07:46,120 Speaker 9: works like the checkout is fast, the receipts are digital, 156 00:07:46,640 --> 00:07:49,640 Speaker 9: tipping is a breeze, and you're out the door before 157 00:07:49,640 --> 00:07:53,800 Speaker 9: the line even builds odds are they're using Square. We 158 00:07:53,960 --> 00:07:56,520 Speaker 9: love supporting businesses that run on Square because it just 159 00:07:56,520 --> 00:07:59,720 Speaker 9: feels seamless. Whether it's a local coffee shop, a vendor 160 00:07:59,760 --> 00:08:02,080 Speaker 9: at a pop up market, or even one of our 161 00:08:02,120 --> 00:08:05,800 Speaker 9: merch partners. Square makes it easy for them to take payments, 162 00:08:06,000 --> 00:08:09,760 Speaker 9: manage inventory, and run their business with confidence, all from 163 00:08:09,840 --> 00:08:13,239 Speaker 9: one simple system. If you're a business owner or even 164 00:08:13,320 --> 00:08:16,840 Speaker 9: just thinking about launching something soon, Square is hands down 165 00:08:16,880 --> 00:08:19,920 Speaker 9: one of the best tools out there to help you start, run, 166 00:08:20,120 --> 00:08:23,480 Speaker 9: and grow. It's not just about payments. It's about giving 167 00:08:23,480 --> 00:08:26,160 Speaker 9: you time back so you can focus on what matters 168 00:08:26,200 --> 00:08:29,440 Speaker 9: most Ready to see how Square can transform your business, 169 00:08:29,720 --> 00:08:34,360 Speaker 9: visit Square dot com backslash go backslash eyl to learn 170 00:08:34,400 --> 00:08:39,600 Speaker 9: more that Square dot Com backslash, go backslash eyl. Don't wait, 171 00:08:39,880 --> 00:08:42,720 Speaker 9: don't hesitate. Let's Square handle the back end so you 172 00:08:42,720 --> 00:08:49,080 Speaker 9: can keep pushing your vision forward. This episode is brought 173 00:08:49,080 --> 00:08:51,000 Speaker 9: to you by P and C Bank. A lot of 174 00:08:51,000 --> 00:08:54,600 Speaker 9: people think podcasts about work are boring, and sure, they 175 00:08:54,679 --> 00:08:58,559 Speaker 9: definitely can be, but understanding a professional's routine shows us 176 00:08:58,559 --> 00:09:02,200 Speaker 9: how they achieve their success lit by little, day after day. 177 00:09:03,200 --> 00:09:05,680 Speaker 9: It's like banking with P and C Bank. It might 178 00:09:05,800 --> 00:09:08,680 Speaker 9: seem boring the safe plan and make calculated decisions with 179 00:09:08,720 --> 00:09:11,760 Speaker 9: your bank, but keeping your money boring is what helps 180 00:09:11,760 --> 00:09:14,839 Speaker 9: you live or more happily fulfilled life. P and C 181 00:09:15,000 --> 00:09:20,160 Speaker 9: Bank Brilliantly Boring since eighteen sixty five. Brilliantly Boring since 182 00:09:20,200 --> 00:09:22,880 Speaker 9: eighteen sixty five is a service mark of the PNC 183 00:09:22,960 --> 00:09:26,920 Speaker 9: Financial Service Group, Inc. P and C Bank National Association 184 00:09:27,120 --> 00:09:28,080 Speaker 9: Member FDIC. 185 00:09:30,280 --> 00:09:34,199 Speaker 1: You just realized your business needed to hire someone yesterday. 186 00:09:34,679 --> 00:09:39,440 Speaker 1: How can you find amazing candidates fast easy. Just use Indeed. 187 00:09:39,840 --> 00:09:42,560 Speaker 1: Stop struggling to get your job posts seen on other 188 00:09:42,679 --> 00:09:46,360 Speaker 1: job sites. With Indeed sponsored jobs, your post jumps to 189 00:09:46,400 --> 00:09:48,880 Speaker 1: the top of the page for your relevant candidates, so 190 00:09:49,000 --> 00:09:52,000 Speaker 1: you can reach the people you want faster. According to 191 00:09:52,040 --> 00:09:56,000 Speaker 1: Indeed data, sponsored jobs posted directly on Indeed have forty 192 00:09:56,040 --> 00:10:00,600 Speaker 1: five percent more applications than non sponsored jobs any longer. 193 00:10:00,800 --> 00:10:04,439 Speaker 1: Speed up your hiring right now with Indeed, and listeners 194 00:10:04,440 --> 00:10:06,920 Speaker 1: of this show will get a seventy five dollars sponsored 195 00:10:07,000 --> 00:10:10,120 Speaker 1: job credit to get your jobs more visibility at indeed 196 00:10:10,160 --> 00:10:15,760 Speaker 1: dot com slash pod Katz thirteen. Just go to Indeed 197 00:10:15,760 --> 00:10:20,480 Speaker 1: dot com slash pod kat z thirteen right now and 198 00:10:20,520 --> 00:10:23,080 Speaker 1: support our show by saying you heard about Indeed on 199 00:10:23,120 --> 00:10:27,520 Speaker 1: this podcast. Terms and conditions apply. Hiring Indeed is all 200 00:10:27,559 --> 00:10:28,120 Speaker 1: you need. 201 00:10:28,880 --> 00:10:32,040 Speaker 7: All these properties right, So every day investor can now 202 00:10:32,080 --> 00:10:36,080 Speaker 7: buy the single family, a multifamily and regular residential property 203 00:10:36,480 --> 00:10:39,479 Speaker 7: and now they're going to reap the benefits of the appreciation. 204 00:10:39,880 --> 00:10:41,800 Speaker 7: Now they're going to have to pay their taxes and 205 00:10:41,840 --> 00:10:44,199 Speaker 7: things of that nature whenever they sell, or they can 206 00:10:44,240 --> 00:10:47,200 Speaker 7: go ahead and invest into an opportunity fund zone. 207 00:10:48,240 --> 00:10:48,920 Speaker 2: How do they do that? 208 00:10:49,000 --> 00:10:50,480 Speaker 5: How do they So if they want to say, okay, so, 209 00:10:50,520 --> 00:10:54,360 Speaker 5: one way to benefit from it is that opportunity zones 210 00:10:55,240 --> 00:10:58,000 Speaker 5: in layman terms, is going to improve the area, right, 211 00:10:58,040 --> 00:11:00,599 Speaker 5: so a little bit every most opportunities the area is 212 00:11:00,640 --> 00:11:03,960 Speaker 5: going to improve absolutely, odds are. So if you buy 213 00:11:03,960 --> 00:11:06,880 Speaker 5: a house in that opportunity zone, odds are the value 214 00:11:06,880 --> 00:11:08,600 Speaker 5: of your house is going to go up because the 215 00:11:08,720 --> 00:11:11,080 Speaker 5: value of that neighborhood is going to go absolutely. So 216 00:11:11,080 --> 00:11:12,840 Speaker 5: that's one way to take advantage of it. But what 217 00:11:12,880 --> 00:11:16,200 Speaker 5: if they want to actually get on the inside game 218 00:11:16,240 --> 00:11:20,440 Speaker 5: of opportunity zone into an opportunity zone fund. How can 219 00:11:20,520 --> 00:11:21,360 Speaker 5: somebody go about doing that? 220 00:11:21,400 --> 00:11:24,800 Speaker 6: Well, you can create your own fund with an LLC. 221 00:11:25,640 --> 00:11:29,560 Speaker 7: You have to self certify, and everybody in this audience 222 00:11:29,960 --> 00:11:32,840 Speaker 7: contact your tax professional to learn how to self certify 223 00:11:33,080 --> 00:11:35,360 Speaker 7: or Google self certify. I'm not going to get into 224 00:11:35,400 --> 00:11:37,560 Speaker 7: too much details because I'm not a tax professional, But 225 00:11:37,640 --> 00:11:41,240 Speaker 7: you can create your own opportunity zone fund and you 226 00:11:41,280 --> 00:11:44,719 Speaker 7: can put your moneyes into your LLC which is that 227 00:11:44,840 --> 00:11:47,280 Speaker 7: opportunity zone fund. Now and now you can go ahead 228 00:11:47,320 --> 00:11:50,800 Speaker 7: and to invest into these opportunity zones and reap the 229 00:11:50,360 --> 00:11:54,800 Speaker 7: same benefits. But again, if you're a new investor. The 230 00:11:54,920 --> 00:11:58,200 Speaker 7: main purpose of it is to defer capital gains taxes 231 00:11:58,320 --> 00:12:02,120 Speaker 7: on items that are and previously sold. So if you're 232 00:12:02,160 --> 00:12:05,120 Speaker 7: a new investor creating the fund, unless you're going to 233 00:12:05,200 --> 00:12:08,040 Speaker 7: go ahead and buy something flipping in the year a 234 00:12:08,120 --> 00:12:11,000 Speaker 7: year and a half, realize you know, maybe one hundred 235 00:12:11,040 --> 00:12:13,360 Speaker 7: and two hundred thousand dollars in gains and then you're 236 00:12:13,400 --> 00:12:16,400 Speaker 7: reinvesting back into the opportunity zone, it may not work 237 00:12:16,440 --> 00:12:19,120 Speaker 7: for you. And that's why I'm telling them, Hey, speak 238 00:12:19,160 --> 00:12:22,079 Speaker 7: to your CPA or your tax attorney to kind. 239 00:12:21,920 --> 00:12:24,240 Speaker 6: Of get that strategy what's best for you. 240 00:12:24,760 --> 00:12:26,880 Speaker 7: But even if you don't put it into a fund 241 00:12:27,040 --> 00:12:29,760 Speaker 7: or create your own fund, if you're investing into these 242 00:12:29,800 --> 00:12:33,320 Speaker 7: areas that billions of dollars of capital are being dumped 243 00:12:33,320 --> 00:12:38,840 Speaker 7: in to create low income housing, new construction, new businesses, 244 00:12:39,240 --> 00:12:42,160 Speaker 7: whatever you purchase in these areas are going to appreciate 245 00:12:42,240 --> 00:12:44,520 Speaker 7: at some point. And also what's going to happen if 246 00:12:44,559 --> 00:12:46,760 Speaker 7: it's rental properties, The rents are going to go up too. 247 00:12:47,320 --> 00:12:49,840 Speaker 7: So it's you know, it's a double edged sword, so 248 00:12:49,960 --> 00:12:52,160 Speaker 7: to speak. And as you continue to grow your real 249 00:12:52,240 --> 00:12:54,840 Speaker 7: estate portfolio, your capital, you're continuing to invest and then 250 00:12:54,880 --> 00:12:56,920 Speaker 7: you can kind of go more at creating your own 251 00:12:57,000 --> 00:12:59,360 Speaker 7: funds and doing what you have to do on that level. 252 00:12:59,400 --> 00:13:01,040 Speaker 6: But opportunity for everyone. 253 00:13:01,120 --> 00:13:04,800 Speaker 8: I think one of the biggest misconceptions is that opportunities 254 00:13:04,880 --> 00:13:06,839 Speaker 8: zones are all in run down areas. 255 00:13:07,000 --> 00:13:08,040 Speaker 2: And we live in. 256 00:13:07,880 --> 00:13:13,760 Speaker 8: Westchester County, which is a pretty affluent county from the country. 257 00:13:13,440 --> 00:13:15,800 Speaker 7: Right nationwise, and they have one of the most racist 258 00:13:15,800 --> 00:13:19,000 Speaker 7: counties in the country, right, And we have opportunity zones 259 00:13:19,040 --> 00:13:20,600 Speaker 7: here in cities in Westchester. 260 00:13:21,120 --> 00:13:23,839 Speaker 8: And what I'm seeing and most people, if you live here, 261 00:13:24,600 --> 00:13:27,880 Speaker 8: they're putting up luxury buildings with commercial space at the 262 00:13:28,760 --> 00:13:31,440 Speaker 8: bottom of them. And they're taking over blocks, not just 263 00:13:31,520 --> 00:13:34,440 Speaker 8: but like one storefront. They're taking over blocks and putting 264 00:13:34,480 --> 00:13:38,680 Speaker 8: up these bills so that the appreciation of the value 265 00:13:38,720 --> 00:13:40,679 Speaker 8: of everything around us goes up. And like you said, 266 00:13:40,679 --> 00:13:43,480 Speaker 8: the ramp will go up. So what does the average 267 00:13:43,520 --> 00:13:45,160 Speaker 8: person do to combat that, right? 268 00:13:45,200 --> 00:13:46,960 Speaker 2: Do they? What's the next step for them? 269 00:13:47,120 --> 00:13:49,720 Speaker 7: The next step is getting the game. You know, it's 270 00:13:49,760 --> 00:13:52,800 Speaker 7: plain simple, like it's happening before our eyes. But you know, 271 00:13:52,960 --> 00:13:55,880 Speaker 7: you can't sit on the sidelines right now. Time is 272 00:13:55,920 --> 00:13:58,440 Speaker 7: not on your side, right, money is cheap. You know, 273 00:13:58,480 --> 00:14:01,560 Speaker 7: you have listen, everyone, I'm not a fan of forty 274 00:14:01,559 --> 00:14:04,040 Speaker 7: five right, and I don't think no one here, probably 275 00:14:04,040 --> 00:14:05,439 Speaker 7: at this table is. And I don't want to get 276 00:14:05,440 --> 00:14:07,439 Speaker 7: too much into politics, but one thing I got to 277 00:14:07,480 --> 00:14:10,120 Speaker 7: give them props on is that this is not a. 278 00:14:10,000 --> 00:14:12,400 Speaker 6: Bad law that they put in place. 279 00:14:12,559 --> 00:14:14,520 Speaker 7: There's still a lot to be said about the law 280 00:14:14,520 --> 00:14:16,840 Speaker 7: because with any new laws, it takes time for it 281 00:14:16,880 --> 00:14:19,120 Speaker 7: to really you know, for them to really continue to 282 00:14:19,160 --> 00:14:21,160 Speaker 7: go through it. They're going to make changes and adjustments 283 00:14:21,200 --> 00:14:23,480 Speaker 7: and things of that nature. But for the real estate 284 00:14:23,520 --> 00:14:25,640 Speaker 7: game and anybody who's looking to get in real estate, 285 00:14:25,960 --> 00:14:28,160 Speaker 7: this is great for us. You know, we can go 286 00:14:28,200 --> 00:14:30,400 Speaker 7: in here and now invest in these communities and most 287 00:14:30,400 --> 00:14:32,400 Speaker 7: of them are probably going to be communities. 288 00:14:31,880 --> 00:14:33,200 Speaker 6: That you know, look like us. 289 00:14:33,520 --> 00:14:34,360 Speaker 2: They're our communities. 290 00:14:34,400 --> 00:14:35,359 Speaker 6: They are our communities. 291 00:14:35,400 --> 00:14:37,880 Speaker 7: So now we get to buy our blocks back, reinvest 292 00:14:37,920 --> 00:14:42,000 Speaker 7: in them and create businesses, create jobs, and create appreciation 293 00:14:42,160 --> 00:14:45,440 Speaker 7: and create that generational wealth and also save on taxes 294 00:14:45,440 --> 00:14:46,080 Speaker 7: in the long run. 295 00:14:46,360 --> 00:14:48,840 Speaker 6: And that's the name of the game, is to save 296 00:14:49,040 --> 00:14:49,920 Speaker 6: on taxes. 297 00:14:51,840 --> 00:14:54,640 Speaker 5: But how can somebody find out where opportunities is. 298 00:14:54,960 --> 00:14:57,680 Speaker 7: You can just go to Google. You can google. There's 299 00:14:57,720 --> 00:15:00,320 Speaker 7: tons of websites out there. But you can google, you know, 300 00:15:00,960 --> 00:15:04,400 Speaker 7: Opportunity Zone and White Plains, New York and you'll probably 301 00:15:04,400 --> 00:15:05,040 Speaker 7: see the map that. 302 00:15:05,040 --> 00:15:08,680 Speaker 2: Will come up and have all it's definitely good. 303 00:15:08,880 --> 00:15:11,560 Speaker 7: Yeah, I mean, listen, we Google, we're in the information 304 00:15:11,600 --> 00:15:14,600 Speaker 7: and technology ever we'll knee deep into it. So you 305 00:15:14,640 --> 00:15:16,680 Speaker 7: can just google anything you want with a keyword and 306 00:15:16,800 --> 00:15:17,520 Speaker 7: get what you want. 307 00:15:17,680 --> 00:15:18,920 Speaker 6: But it's all across the country. 308 00:15:18,960 --> 00:15:21,320 Speaker 7: Like you said, it's eighty six hundred or in some 309 00:15:21,480 --> 00:15:24,480 Speaker 7: change of opportunity zones throughout the nation. So there's plenty 310 00:15:24,520 --> 00:15:27,640 Speaker 7: of opportunities everywhere. And it's not just in the hoods. 311 00:15:27,960 --> 00:15:30,600 Speaker 7: There's places like White Planes, you have Long Island City, 312 00:15:30,920 --> 00:15:34,960 Speaker 7: you know, affluent areas that on the census track because 313 00:15:34,960 --> 00:15:37,640 Speaker 7: the central track is kind of outdated, that still deemed 314 00:15:37,640 --> 00:15:40,600 Speaker 7: some of these places as low modern income areas. But 315 00:15:40,760 --> 00:15:43,880 Speaker 7: they've been developed so it hasn't caught up. But it's 316 00:15:43,920 --> 00:15:47,120 Speaker 7: still an opportunity for anyone to go and invest. As 317 00:15:47,120 --> 00:15:49,240 Speaker 7: long as you have the capital, you know, you can. 318 00:15:49,080 --> 00:15:53,360 Speaker 2: Go ahead, you said shout to him. 319 00:15:53,400 --> 00:15:54,920 Speaker 8: One of the things he posted was like, you can't 320 00:15:54,920 --> 00:15:57,400 Speaker 8: call it your hood unless you've bought something in it, exactly, 321 00:15:57,480 --> 00:15:58,040 Speaker 8: And I'm. 322 00:15:57,840 --> 00:16:01,000 Speaker 2: Like, that's that's pretty genious, of course, and it's true. 323 00:16:01,120 --> 00:16:03,480 Speaker 6: Listen, we come from these areas. 324 00:16:03,520 --> 00:16:06,200 Speaker 7: We all grew up a certain way, right, and we've 325 00:16:06,200 --> 00:16:09,280 Speaker 7: seen gentrification happen over and over. Look at Brooklyn, look 326 00:16:09,280 --> 00:16:11,680 Speaker 7: at look what's happening in the Bronx right now. And 327 00:16:12,200 --> 00:16:14,720 Speaker 7: it's not too many people that are buying these homes 328 00:16:14,720 --> 00:16:16,840 Speaker 7: and renovating them that look like us, right, There's only 329 00:16:16,840 --> 00:16:19,200 Speaker 7: a hand few of us that are doing it. So 330 00:16:19,680 --> 00:16:22,520 Speaker 7: we have to now get in the game, stop being scared, 331 00:16:22,600 --> 00:16:26,440 Speaker 7: get off the fence, make sacrifices, you know, and start 332 00:16:26,520 --> 00:16:28,560 Speaker 7: investing into the real estate, and start investing in to 333 00:16:28,720 --> 00:16:30,040 Speaker 7: the real estate in our areas. 334 00:16:30,080 --> 00:16:32,600 Speaker 6: Because they're telling us what they're going to do. 335 00:16:32,720 --> 00:16:33,360 Speaker 2: They want to. 336 00:16:33,360 --> 00:16:36,720 Speaker 7: Make the hood basically all the outskirts of the hood 337 00:16:37,800 --> 00:16:40,640 Speaker 7: I appreciate. So we have to take advantage because no 338 00:16:40,680 --> 00:16:43,200 Speaker 7: one knows these areas better than us exactly, you know, 339 00:16:43,240 --> 00:16:46,560 Speaker 7: So why shouldn't we take advantage of the opportunity that's 340 00:16:46,600 --> 00:16:47,240 Speaker 7: in front of us. 341 00:16:49,360 --> 00:16:54,560 Speaker 4: My graduates from my school being forced back, drop drop, 342 00:16:55,480 --> 00:16:56,840 Speaker 4: drop drop. 343 00:17:08,520 --> 00:17:12,399 Speaker 1: You just realized your business needed to hire someone yesterday. 344 00:17:12,880 --> 00:17:17,640 Speaker 1: How can you find amazing candidates fast? Easy? Just use indeed, 345 00:17:18,040 --> 00:17:20,760 Speaker 1: stop struggling to get your job posts seen on other 346 00:17:20,880 --> 00:17:24,560 Speaker 1: job sites. With Indeed sponsored jobs, your post jumps to 347 00:17:24,600 --> 00:17:27,119 Speaker 1: the top of the page for your relevant candidates, so 348 00:17:27,240 --> 00:17:30,199 Speaker 1: you can reach the people you want faster. According to 349 00:17:30,280 --> 00:17:34,240 Speaker 1: Indeed data, sponsored jobs posted directly on Indeed have forty 350 00:17:34,240 --> 00:17:38,160 Speaker 1: five percent more applications than non sponsored jobs. Don't wait 351 00:17:38,160 --> 00:17:41,640 Speaker 1: any longer. Speed up your hiring right now with Indeed, 352 00:17:42,040 --> 00:17:44,320 Speaker 1: and listeners of this show will get a seventy five 353 00:17:44,359 --> 00:17:47,560 Speaker 1: dollars sponsored job credit to get your jobs more visibility 354 00:17:47,720 --> 00:17:53,399 Speaker 1: at indeed dot com slash pod Katz thirteen. Just go 355 00:17:53,480 --> 00:17:58,240 Speaker 1: to indeed dot com slash pod katz thirteen right now 356 00:17:58,600 --> 00:18:01,119 Speaker 1: and support our show by saying you heard about Indeed 357 00:18:01,200 --> 00:18:05,480 Speaker 1: on this podcast. Terms and conditions apply. Hiring Indeed is 358 00:18:05,560 --> 00:18:06,120 Speaker 1: all you need