As there is a general flight to affordability, the new developments don't fill as quickly, and rely on concessions and/or lower asking rents to fill up.  

Do you do any development projects? 

Most take near a year in southern Ca, but you hear of exceptions in both directions on that timeline.What some developers are doing here is leveraging the affordability issue and getting permission to build additional ADUs by designating some as affordable or semi affordable units.  

very high risk even I only do them with very specific investors in mind and a plan. we dont flip land we develop every one. 

Purchase price: $75,000 Cash invested: $600,000 Sale price: $269,000This is my largest new build development to date.

Quote from @Daniel Huang: Hi, I am trying to transition to develop my rental income as I am in the final years of my professional career.  

In July of last year a roof leak developed and caused damage to the ceiling in my unit, to the point there was partial ceiling collapse. 

@Jay HinrichsI currently develop in NC.

If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

The developers/promoters are touting it as a highly automated deal finding solution that's good for those who have a full-time W-2...