This article is contributed by Greenwich Time.
Fortunately, investors have a convenient vehicle through which to help these distressed communities: Qualified Opportunity Funds (QOFs). Through them, we have a chance to work together in innovative ways to turn approved, distressed communities around … and make money.
Political barriers should not factor into the equation; if nothing else, the coronavirus is teaching us that we are all in this together, and that all of us, across the country and globally, must be responsible for one another.
One lesson we are learning the hard way from this historic plummet of the stock market is to diversify by identifying long-term alternatives to equities, precisely to avoid drops like these. When the COVID-19 madness ends, and it will, investors will be scrambling to find new revenue streams and improved avenues of investment.
I believe investing in the health of our poorest communities will be the right avenue to take.
Greenwich resident Jim White, PhD is chairman and CEO of Post Harvest Technologies, Inc. and Growers Ice Company, Inc., founder and CEO of PHT Opportunity Fund LP, and founder and president of JL White International, LLC. His new book is “Opportunity Investing: How to Revitalize Urban and Rural Communities with Opportunity Funds.” He holds a bachelor of science degree in civil engineering, an MBA, and a doctorate in psychology and organizational behavior.
Dr. White is hosting his regular Opportunity Investing Webinar Series intended to educate and provide a roadmap to Qualified Opportunity Zones and Qualified Opportunity Funds. His next webinar goes live on April 14 at 6:30 PM EST. It’s dedicated to the projected unemployment rate and how we can deal with it. Register now to join the conversation.