LA hillside development: how to lose a million
Someone spent 1,000 hours and probably half a decade getting entitlements, grading, excavation, shoring, retaining walls all done. Then walked.
$3M default. Foreclosed. Lender tried selling it for $2.95M last year. Now it's on its second broker asking $1.85M.
The person posting is 18 months into permitting a 3-unit ADU on an LA hillside. Their advice: careful.
Development in LA isn't broken because of builders or design. It's broken because the machinery eats people alive before they reach the finish line.


Source
x.com