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In 1971, John and Nancy Klimp started their real estate investment career by purchasing a five-plex on Whipple Avenue in Redwood City with $1,500 plus a small loan from family members for the down payment. After improving this property, refinancing it twice, and selling for a good profit, John and Nancy made this successful formula a model for all properties bought by Mayfield partnerships and limited liability companies on the San Francisco Peninsula. In 1972 they formed their first limited partnership whose success attracted other investors. Their reputation grew by word-of-mouth; the investment network currently exceeds 300 partners. John and Nancy Klimp have personally invested substantially in each of their San Francisco Peninsula syndications. Between 1973 and today, the more than 80 partnerships and LLCs organized by John and Nancy Klimp and Mayfield Investment Company, Inc. have bought, improved, sold and continue to own apartment properties on the San Francisco Peninsula. Though several national economic recessions occurred during these times, none of these partnerships has ever lost capital in a California investment. |
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