About
Duncan Investment Group
Duncan Investment Group is a Southern California–based family office focused on acquiring and operating real assets across the western United States. We invest primarily in small multifamily residential properties — 4- to 8-unit apartment buildings — where our scale allows us to move quickly and manage efficiently.
Our approach combines rigorous quantitative underwriting with hands-on asset management. We build detailed financial models for every acquisition, stress-test assumptions, and stay close to operations throughout the hold period.
In addition to direct acquisitions, we take LP positions alongside experienced ground-up developers in select markets — supplementing our core multifamily strategy with exposure to commercial and mixed-use development upside.
Investment Philosophy
Fundamentals First
Every acquisition is underwritten from first principles — cash-on-cash, DSCR, cap rate, and IRR all modeled explicitly. No black boxes.
Supply-Constrained Markets
We target cities where permitting barriers and land scarcity protect existing stock from oversupply — the foundation of durable rent growth.
Operational Excellence
Value is created through disciplined property management, thoughtful renovation, and tenant relationships — not financial engineering.
Long Hold Horizons
We underwrite to a 5-year hold and let compounding do the work. We're not chasing short-term flips.
Partners
Travis Duncan
Strategy & Underwriting
Travis has extensive experience in real estate development, including planning, entitlements, design and construction. He guides investment strategy and oversees underwriting processes. BS from Santa Clara; MS & MBA from Stanford.
Steve Duncan
CFO & Controller
Steve has over 40 years of experience in the finance industry with roles across operations, human resources, customer service and accounting. He manages operational partners and financial oversight. BA from Central College; MBA from Arizona State.
Laurie Duncan
Operations & Design
Laurie has 10+ years of experience managing people in human resources and customer service. She oversees property site visits and design plan implementation. BS from University of South Dakota.
Tyler Duncan
Data & Analysis
Tyler has experience in research & development, data analysis, visualization and programming. He leads the data analysis group, handling modeling, analyses, decision-making support, and website design. BA from Yale.