Today we’d like to introduce you to Kenny Simpson and Krystle Moore.
Kenny and Krystle, can you briefly walk us through your story – how you started and how you got to where you are today.
Kenny & I have both been in financing since 2003-2004 though we met during the downturn in late 2008 and both of us were in sort of a transition when we met. We started our business in the living room of our apartment in early 2009 and within a few months, we got an office space in Mission Hills. We were both doing financing, I do commercial/multifamily and he does residential. Today, we have a family office in Mission Valley. Kenny and I work together and also have my mom and a close friend I grew up with on our team.
Since then we have continued to expand in other areas of real estate – we started investing in real estate in 2012, we started with an old home in Mission Hills and sold that to start buying multifamily. Currently, we own over 60 units.
In 2013, we also started a management company. At its height, we managed about 1,000 units. We sold the company to a tech start-up in 2017 to focus on our primary business of financing real estate, growing a family and continuing to invest.
2019 has been about focusing on growing our business through marketing. Until this point, our business was solely from referrals. We started a podcast – Value Add with K&K – and have focused on using our influence on social media to educate our clients, potential clients and followers. We talk a lot about real estate and building wealth on the podcast but also talk about health, fitness, mental health and other areas where we feel we can add value.
Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
Not! When we decided to start a business together in 2009, the industry itself was tough and business was slow. Kenny was coming out of a bad partnership and I was laid off from Washington Mutual and wasn’t even sure I wanted to continue doing loans. Once we made the decision, we just picked up the phone and started calling everyone we knew to try to get business.
When we decided to start the management company we did it thinking we would get good experience in how to run an apartment building since our goal was to buy multifamily and thought it would bring in good cash flow from the monthly fees. We learned a lot but it took a lot more of our time than we planned. Originally, I thought maybe I could dedicate my time 50/50 – what happened is that it quickly took 100% of my time. Both our loan businesses suffered because of this. I also took on a huge owner – we ultimately helped him grow from 180 units to over 700 units. I represented him as a broker on most of his purchases, all of his sales, handled all of his financing, property management and property renovations. That was a challenging relationship but we learned so much. Ultimately we decided to part ways and I lost about 40% of my business almost overnight. We built the business back up to about 750 units then sold it.
The transition after the sale of the management company took about a year. That in itself was not only a new experience but required lots of hand holding to try to retain as many clients as possible.
I stepped back into my financing business at the beginning of 2019 and since then we have been navigating how to utilize social media and online marketing to grow our business. It’s been lots of trial and error but we are constantly learning.
Please tell us about your work.
Pacific Shore Capital specializes in financing commercial/multifamily properties. I would say what makes us different is all the knowledge we are able to share with our clients from owning and operating a property management company, having excellent referrals whether it be CPA’s, handymen, contractors, management companies, etc. to help our clients get the best real estate team to help them maximize their investments. We also have the experience of being real estate investors ourselves so we don’t just do loans, we advise our clients on many different levels.
Ken helps with the business though his loan business is separate. He is under a large company that funds and underwrites loans in house. Value Add with K&K is our podcast where we try to educate people on how to build wealth in multifamily but we also cover other topics that we feel can add value.
What moment in your career do you look back most fondly on?
I wouldn’t say there’s been one big moment. When we look back on how far we’ve come, how much we’ve learned and the relationships we’ve built along the way we are proud of the journey. There are also so many proud moments along the way – when we’ve been able to help our clients build wealth and grow their portfolio by helping them to use leverage or advising them on how to make the most of their assets. That is rewarding for us and not something that is just a job, it is something we love doing.
Contact Info:
- Address: 5920 Friars Road
Suite 101
San Diego, CA 92108 - Website: pacificshorecapital.com
- Phone: 858-344-1146 – Krystle, 619-302-2020 – Kenny
- Email: krystle@pacificshorecapital.com / kenny@pacificshoremgt.com
- Instagram: @pacificshorecapital, @valueaddkk, @krystlerosemoore, @kennybsimpson
- Facebook: @pacificshorecapital, @valueaddkk, @krystlerosemoore, @kenny.simpson.7771
Image Credit:
Christian Villareal
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