Opportunity Zones [OZs] have been demarcated in the interest of economic development and to attract investors to distressed parts of America. Joining us today is an OZ Fund specialist, the General Partner of Tandem Trust, and the Fund Manager of Coastal Bend OZ, John Berlet. After explaining what he does and breaking down his history as a financial planner, John defines Opportunity Zone Funds, the tax incentives and other reasons that you’d want to start one, why big construction is better for OZ Funds, and how outdated information means that some middle to high-income areas still get classified as Opportunity Zones. We learn about John’s most recent project and what he’s most excited about, before hearing about everything he’s learned as a fund manager. If you are an aspiring OZ Fund manager and would like to know what it takes, then be sure to tune in for helpful, practical examples from the wonderful and wise, John Berlet!
Key Points From This Episode:
- Introducing John Berlet: his history in financial planning and what he does now.
- The state he found to be the most advantageous for his OZ Fund during his motorhome trip.
- What an Opportunity Zone (OZ) Fund is, and a perfect example of why you want to start one.
- Why OZ Funds are best for properties that need a ton of new work or new construction.
- Exploring why some middle and high-income areas still get designated as Opportunity Zones.
- The ins and outs of the OZ project that John is currently busy with: Blue City Paraiso.
- His main responsibilities as a fund manager.
- The biggest lessons he’s learned from setting up new funds.
- Assessing the costs of a feasibility study.
Links Mentioned in Today’s Episode:
John Berlet on LinkedIn
Tandem Trust Financial
Coastal Bend OZ
Ashley Tison on LinkedIn
City of Rockport, Texas
Blue City Paraiso at Rockport
Texas Windstorm Insurance Association
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Joseph Fang Email