Qualified Opportunity Zones 2.0: Tax Deferral, Active-to-Passive Investing, and Real Estate Gains | Alicia Miller
Summary
Host Chris Lopez and Alicia Miller of Black Salmon Capital explain Qualified Opportunity Zones (QOZs) as a tax-deferral strategy for capital gains from real estate, stocks, or business sales. They detail the differences between the expiring QOZ 1.0 program, which offers larger deductions and valuation study loopholes, and the permanent QOZ 2.0 framework. The episode covers a specific multifamily development in St. Petersburg, Florida, highlighting projected returns, cash-out refinancing options, and the ability to recycle capital without restarting the 10-year tax-free holding period.
Topics discussed
Introduction and show overview
Guest background: Alicia Miller's real estate journey
QOZ 1.0 basics: tax deferral and deductions
Walkthrough of QOZ 1.0 capital gains example
Sponsor segment: BP Con 2026 workshop
Advanced strategy: cash-out refi and 10-year hold
QOZ 1.0 loophole: valuation studies for early development
Valuation study mechanics and timeline constraints
QOZ 2.0: permanent program and rolling deferral
QOZ vs 1031 exchange: key differences
Case study: St. Pete multifamily development investment
Projected returns, distributions, and refinance timeline
Capital recycling and protecting the 10-year hold
QOF vs QOZ and fund structure nuances
Due diligence and common investor questions
Closing remarks and contact information
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