WS1608: All About Opportunity Zones and 1031 Exchanges | Jimmy Atkinson

To take advantage of benefits, you need to act fast! Today’s guest, Jimmy Atkinson, discusses the benefits of Opportunity Zones and how they compare to 1031 exchanges. He shares how Opportunity Zones offer significant tax advantages and can be a better option for investors looking to diversify their portfolios and invest in alternative projects.In this episode, Jimmy helps you determine if it's the right investment strategy for you as he shares his knowledge and insights about opportunity zones and how investors can take advantage of this investment opportunity. Tune in now and explore the tax advantages of investing in a qualified Opportunity Fund and compare the two popular tax incentives!Key Points From This Episode: Jimmy shares the steps he took to get to where he is right now and for him to decide that commercial real estate is for him.Jimmy explains what exactly opportunity zones are.How do you know you’re operating in an opportunity zone and how to find them.Why should you consider investing with an operator in an opportunity zone?What is the tax incentive for qualified opportunity funds?The difference between opportunity zones and 1031 exchange.How the current economy is affecting Jimmy’s plans with opportunity zones.How is Jimmy prepared for a potential downturn when looking for projects?Jimmy’s best source for meeting new investors right now.The challenge Jimmy and his business is currently facing.The most important metrics that Jimmy tracks professionally and personally.Tweetables:“You essentially get to eliminate your capital gains liability on your opportunities on investment, so long as you hold it for 10 years.” - Jimmy Atkinson“The second big benefit is that you get to eliminate capital gains liability completely on the appreciation within your opportunities on investment.” - Jimmy AtkinsonAfter interviewing thousands of entrepreneurs, one truth is clear: business success means little if it costs your marriage, family, or faith.I'm now hosting the Courageous Men podcast for men who want to lead well at home and at work. I'm looking for five men to walk closely with who want to lead well at home and work.  Email me at [email protected] and tell me why you should be one of the five. whitneysewell.com  VISIT OUR WEBSITEhttps://lifebridgecapital.com/Here are ways you can work with us here at Life Bridge Capital:⚡️START INVESTING TODAY: If you think that real estate syndication may be right for you, contact us today to learn more about our current investment opportunities: https://lifebridgecapital.com/investwithlbc⚡️Watch on YouTube: https://www.youtube.com/@TheRealEstateSyndicationShow📝 JOIN THE DISCUSSIONhttps://www.facebook.com/groups/realestatesyndication➡️ FOLLOW UShttps://twitter.com/whitney_sewell https://www.instagram.com/whitneysewell/ https://www.linkedin.com/in/whitney-sewell/ ⭐ Be Our Guest!We are continuously working hard to help our listeners with their journey to real estate syndication. If you think you can add value in any way to our listeners who are in commercial real estate, then we’d love to have you over. Apply here: https://lifebridgecapital.com/join-our-podcast/