Washington DC Hotel Restaurant Investment

[Jason Piccolo]

Investment Info:

Other commercial investment investment in North Little Rock.

Cash invested: $2,300,000

LP in restaurant/hotel investment

What made you interested in investing in this type of deal?

We loved the location and the opportunity to revitalize the area

How did you find this deal and how did you negotiate it?

This deal was presented to us through a developer friend

How did you finance this deal?

Self directed IRA money

How did you add value to the deal?

We were strictly money partners

What was the outcome?

It’s currently in the construction process scheduled for September 2024 delivery

Lessons learned? Challenges?

Covid was a challenge as we weren’t sure what was going to happen with the investment. Luckily the construction was funded last year as a rebound in hospitality is expected.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No. We are strictly LP’s

[Jason Piccolo]

Hi Adam, thanks for your reply. It really came down to the opportunity to invest with a good friend who is a developer in DC. We made the initial investment back in 2017 utilizing notes to avoid paying UBIT tax getting a fixed rate of return and equity upside. Looking forward to posting about the final product in September.