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If you can't afford a mansion on your own, maybe you could throw down on one with some friends. If you have $125,000, you can become one of up to 320 investors in the Beverly Estate, according to Curbed LA. That's the crowdfunding campaign being run via Start Engine, at least. They're calling it "an offer you can't refuse," which is suitable considering this opulent house was where film producer Jack Woltz wakes up to find himself in bed with a horse's head in The Godfather.
According to the pitch, your investment "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." In addition to an estimated 5-20 percent turn on your investments, you'll also get a discount on renting the home for events, and you will be invited to various events thrown at the house.
The home is currently worth about $160 million, but could potentially be listed for more. If sold, that would work out well for investors. Just to rent the home is $600,000 a month. The home's current owner, financier Leonard Ross, is $40 million in debt, and filed for bankruptcy in 2010. At the time, Variety reported that Ross owed "a punishing $40,000,000 in mortgages on the walled and gated hilltop estate now known as The Beverly House Compound."
The home was built in 1927 by architect Gordon Kaufmann for Milton Getz, then sold to newspaper tycoon William Randolph Hearst in 1946, who gave it to his mistress, actress Marion Davies. Hearst died here in 1951, and it didn't take long for Davies to move in her own lover, Horace Brown. Plenty of other famous people have partied here, too, from the Kennedys to Rihanna. It's got at least 19 bedrooms, 40 bathrooms, and it's own nightclub, as well as an outdoor terrace that can seat 400.
