Who is Bo Belmont? Real Estate investor who bought Kanye West's Malibu home makes discounted bid on Diddy's LA mansion
A report by TMZ dated November 20, 2024, mentioned that real estate investor Bo Belmont and his company Belwood Investments announced that they've put in an offer for Diddy's LA mansion. Diddy bought the property for $39 million in 2014 and its current asking price is $60 million. However, Bo Belmont is offering $30 million for the rapper's LA property.
The real estate investor bidding for Diddy's property, Steven Bo Belmont is the owner and founder of Belwood Investments. He currently resides and operates his business in Folsom, California. As per the Belwood Investments website, Belmont attended Siera College, and Adams State University, and graduated from the Coastline Community College.
Belmont started his career as an Account Executive at Ameriquest Mortgage and then became a Branch Manager at People's Choice Mortgage, post which he became a partner at US Home Loans. Additionally, the real estate investor has an "impressive background" in the mortgage industry.
In the announcement about Belwood Investment's offer on Diddy's property, the real estate investor said that he wants to remove the stigma surrounding the rapper's 17K-square-foot house and divert attention to the property's beauty.
Bo Belmont spent three years in prison: More details about the real estate investor explored
According to the details about Bo Belmont mentioned on his company's website, he was a top producer when he worked in the mortgage industry and received several awards for the same.
The real estate investor renovated his first house in 2008 which ignited his interest in the "fix and flip" industry and since then, Belmont has been a part of 1200 real estate transformations. The Belwood Investments website states that while heading the company, Belmont has "perfected his B52 model" and that he is the co-founder of Belwood University. The university offers mentoring and teaching programs concerning investing.
According to a report by Unilad dated September 2024, Belmont was charged with attempted murder in 2013 and spent three years in prison. As per the reports, the real estate investor attacked a man with a pitchfork while fighting about a noise complaint. The incident reportedly took place when Belmont was on a vacation in Napa County with his family when the neighbor of his rental holiday home, Roy Powell, asked him to turn the noise down so his daughters could sleep.
This led to an altercation between Powell and Belmont given both of them had been drinking. Belmont struck Powell over the head, resulting in a blood clot on his brain and a fractured jaw. In 2015, while Belmont was acquitted of attempted murder, he was found guilty of assault with a deadly weapon.
While serving his sentence, Bo Belmont started a side hustle wherein he helped flip houses from prison. It was after the completion of his sentence in 2018, that Belmont set up Belwood Investments which is a crowd-sourced real estate investment fund. As per a report by realtor.com dated September 2024, Belwood Investments enables micro investors to procure high-end properties.
Moreover, Belmont became the new owner of Kanye West's gutted Malibu mansion in September 2024. Ye listed the property for $53 million, however, it was bought by Belmont for $21 million and soon announced his plans to restore the property.
According to a report by PRNewswire dated November 20, 2024, Bo Belmont talked about what he plans to do with Diddy's LA mansion. The real estate investor said that he intends to perform major renovations wherein he wants to recapture the setting of the outside grounds.
He said that the rapper's estate would be a great asset to his growing portfolio of luxury properties.
