Maybe you're one of those people who want to invest in real estate, but don't really like the risk associated with buying and selling homes. Well this just might be the opportunity for you!
There is now an ongoing crowdfunding campaign on Start Engine calling for investments in the Beverly Estate. In case you're unfamiliar with the Beverly Estate, it's an estate located three blocks away from Sunset Boulevard in Beverly Hills, CA. In total, there are over 20 bedrooms, 40 bathrooms, swimming pools, a tennis court, and about 50,000 square feet in the buildings. It's used for massive parties and other notorious events, and you can rent it for $600,000 per month.
Still not sure what building I'm talking about? Well, it was designed in 1927 by Gordon Kauffman (the chief architect for the Hoover Dam), and purchased in 1946 by William Randolph Hearst (the guy Citizen Kane is about) for actress Marion Davies. In 1951, Hearst died in the Beverly House. JFK and his wife spent part of their honeymoon there in 1953.
Still confused? It's where that scene with the horse's head in The Godfather was filmed.
Now that we're on the same page, what's the offer? Basically, you can invest $125,000 per unit to have your stake in the estate. You're promised at least a 5% return annually, and you could get as much as 20%. Also, you'll get discounted rates for renting the venue, and you'll be invited to at least four parties there every year. If you purchase eight units or more ($1 million+), you might have access to the property for a behind-the-scenes look at the next movie filmed there. The crowdfunding page says of the opportunity:
"An investment regarding The Beverly House should offer much more peace of mind, and enjoyment, than the turmoil, uncertainties and unpredictability in world markets and currency risks and allows much desired diversification of investments."
And that's not all! The estate has an estimated value of $160 million. It might soon be listed for sale either at either $175 million by itself, or they might bundle in the property next door and bump it up to $195 million. If the property were to sell for anywhere near that much, anyone who owns units will make all their money back plus a pretty hefty bonus check. But don't get too excited, it was last listed on the market in 2014 for $135 million, and no one took the bait.
Regardless, if you have a six-figure cash stash lying around, you could still make some serious dough with the guaranteed 5%. This might just be "an offer you can't refuse."
