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Updated over 9 years ago on . Most recent reply

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Gary Erdoglyan
  • Property Manager
  • Los Angeles, CA
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Since there is low inventory, doesn't development make sense?

Gary Erdoglyan
  • Property Manager
  • Los Angeles, CA
Posted

If there isn't a lot of inventory than Why don't investors, especially in the Los Angeles area run towards developments?

Sorry if this is a dumb question.

And im too young to remember, but from what i read, doesn't this look like the times before the big crash?! House prices are skyrocketing, and banks are slowly making it easier to borrow?  Why would we repeat the same mistake? or is it somehow different this time around?

Thanks 

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

@Karen Margrave  from my talks at conventions and such with the bigger companies... and or the presentations they make... Most are on 10 year cycles.  IE what they buy today they plan on building on in 10 years..

In Oregon it used to be we could buy a 20 acre site.. get it approved for 120 lots in 90 days build it out and have sticks in the air in 9 to 10 months.

the gresham project that I have posted about ( with your help )  its taken right at 20 months to go from contract to sticks in the air.. we broke ground last week on the first 6 homes.  

Each market of course is very different.  I am doing a 24 lot one in Charleston right now.. but I think because we are taking a mini ghetto MHP that the city wants gone in the worse way we will get some fast track there but still going to be well over a year just to get it approved

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JLH Capital Partners

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