Investor Offering Diddy $30 Million For House Says It Isn't Worth $60 Million

Diddy 's house is underwhelming when you walk in and defintely not worth $60 million ...

this according to the investor who says he's offering half the asking price. We caught up with Bo Belmont -- founder and owner of real estate company Belwood Investments -- out in Los Angeles Friday ..



. and, we had to ask him about putting in a $30 million offer for the rapper's Holmby Hills mansion. First off, Belmont says this is a real offer .

.. telling us his company has emailed the listing agent for the property -- though they haven't heard back yet.

Belmont says his company offered $30 million -- well under Diddy's asking price of $62 million -- because when he saw the property he was underwhelmed ...

feeling it didn't meet his $60 million expectation. As for whether Diddy will accept an offer so much lower than his asking ..

. Bo says he might -- after all, his company was able to purchase Kanye West 's gutted Malibu mansion for nearly $40 million less than Ye originally wanted. Bo plans to stick to his guns in any negotiation with Diddy, he tells us .

.. 'cause if Diddy wants more and comes back with a counter, his plan is to offer $27.

5 million -- taking money off the table instead of piling more on it. Worth noting ..

. Bo's fine with all of the alleged activities that may have gone down in the house -- explaining he plans to completely redesign the interior so it looks and feels nothing like the current mansion. We've spoken to other realtors in the past about Diddy's mansion BTW .

.. and, they say two of the big issues with selling the property are the asking price and the stigma -- so sounds like Belmont's keeping both in mind.

Diddy's got a whole lot of legal issues to worry about ...

but, he'd better act quick if he wants to sell -- 'cause Bo's offer may not last forever..