Man With A Plan

David Berneman finds investments in ways and means others wouldn’t think or dare to try. The Culver City, CA based investor charts his own path through unexpected L.A. areas.

By Lee Barnathan, California Business Journal

Where others see dilapidation and distress, David Berneman sees dollars.

Like any investor, Berneman, 33, wants to make as much money as possible. But unlike many investors, he sees potential in areas others don’t.

Areas such as Leimert Park. Hyde Park. Hawthorne. Westmont. Inglewood.

These are not areas everybody thinks of when looking to invest in real estate. But Berneman, head of Golden Bee Properties in Culver City, has been buying properties in those areas for almost a decade, including a recent purchase of eight apartment buildings for $17.4 million: five in the City of L.A., two in unincorporated L.A. County and one in Hawthorne.

“I’m not going to sugarcoat it. There still are some areas and some pockets that have some gang activity, but generally speaking, this is the thing that I think is most impressive: South L.A. is a nice, working-class neighborhood,” he says. “You have a lot of families that have either lived in the area forever or others that just can’t afford to live in West L.A., Koreatown and Hollywood. It’s a question of how do we make South L.A. better and safer for the residents — and nicer and cleaner — while simultaneously making money for our investors?”

Read the rest of the story here https://www.calbizjournal.com/david-berneman-golden-bee-properties/