Another record year for LMDG in 2018 - Fund II still Open
During 2018 LMDG through its various investment vehicles was extremely active acquiring eight properties totaling $15.4 million.
Also during the year, LMDG sold five properties totaling $9.8 million. These properties averaged a 125% gain on capital with an average hold of 14 months.
Mid 2018 also saw the launch of LMDG's first equity fund LMDG Real Estate Value Fund II. To date, the fund has acquired three properties. Renovation of the first property acquired, an 8 unit apartment building in the Alamitos Beach area of Long Beach has been completed.
During the third quarter, we also hosted a webinar with industry expert Bernard Reisz, CPA titled What is a Self-Directed IRA with Checkbook Control. We discussed investing traditional retirement account funds in real estate and other alternative assets while still maintaining IRA tax status.
In early 2018 through its legacy fund, LMDG acquired two adjacent parcels within an Opportunity Zone in the historic East Village Arts District of Downtown Long Beach. Opportunity Zones were established as part of the Tax Cuts and Jobs Act of 2017. Opportunity Zones are designed to spur development by providing tax benefits to investors based on the length of the hold period. This program provides investors with the opportunity to defer and even eliminate capital gains tax in exchange for investment in these designated zones.
2018 was a record year for LMDG and we have our sights set even higher in 2019.
Fund II is still open to new investors. For more information, download our flyer which outlines the strategy and structure of Fund II, projected returns, and our track record.
Regards,