SoCal Dev @DevSoCal
SoCal RE Developer and GC. Mostly ground up / heavy value add $2.5-5MM+ SFRs. Former REPE prof at $5B firm. USC MBA. New dad. Los Angeles, CA Joined November 2023-
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Anyone with common sense knew this was going to happen. The longer ULA stays in place the worse the compounding effects of this misguided policy will be.
Anyone with common sense knew this was going to happen. The longer ULA stays in place the worse the compounding effects of this misguided policy will be.
It’s worth noting that, of the roughly 13,000 homes lost in the LA fires, it’s reported that only 72 permit applications have been filed in Pacific Palisades, and 98 in Altadena. To date, four permits have been issued—and only in the Palisades. Access to the Palisades remains…
Wrapped up framing Wednesday of last week. Three weeks three days is a record for me! Giving my crew a big pat on the back. They got a little ahead of themselves with the fireplace though, still lots of things to install back there!
Three weeks of framing a wrap and I think this is a speed record. Hoping to keep up the pace!
Nothing like a little hail storm to wash away the ashes of what was lost here in LA... God can be cruel. This would have been great a couple weeks ago 🤧
Two weeks into framing and the new house is going up fast. The two that we started building previously are coming along well also.
The real reason housing is so expensive in LA: Time = Money Average timeline: 18-24 months: Entitlements 6-8 months: Plan Check 24-30 months: Construction That's 4-5 years of: - Carrying costs - Rising material costs - Labor inflation - Market risk Speed = More…
Agree completely. Drove down from LA this morning to a project I’m working on in OC. Not everything about the area is for me but the fact that it’s better run, cleaner, safer, and less fire prone are undeniable. Building is much easier as well.
Agree completely. Drove down from LA this morning to a project I’m working on in OC. Not everything about the area is for me but the fact that it’s better run, cleaner, safer, and less fire prone are undeniable. Building is much easier as well.
L.A.’s water chief makes $750,000 per year. For comparison: U.S. presidents = $400,000 CA Governor = $224,000 U.S. Congress = $174,000
@ScottAdamsSays Builder here! 1. True. Fire victims will most likely get front of the line passes so their permits will prob take 1-2 years if no changes. 3-5 years if coastal commission gets involved due to modifications. Everyone else will prob get pushed back to 5-10 years. 2. ~$2m to build…
To be clear, I evacuated my home in the Hollywood Hills on Wednesday night in response to the “Sunset Fire”. Waking up on Thursday morning elsewhere I found out that the fire had thankfully been extinguished and very few surrounding homes were damaged. Fortunately, amongst other…
These wildfires in LA are truly apocalyptic. Had to evacuate my family last night due to the Hollywood Hills fire. Thankfully we were spared. Nevertheless, I built a beautiful house years ago in Pacific Palisades which would have recently been worth $5+ million that burned to the…
House that got torn down a block from our other HB build is finally fully permitted and moving! Hopefully this is a good omen for 2025.
2 house project in HB coming along. Finishes going in now. Probably 4 months out from going to market.
New property one block over from the other project getting ready to be torn down. Gas main now capped. Built in 1915 and currently not fit for habitation, but that will soon change!
Finally all closed up, mechanical almost done. Ready to receive exterior finishes. Great thing, as the week of July 4th it is absolutely nuts near the beach!
This is where we were on Friday (after 5 weeks) with the OC houses, doing pickup for final framing when the PM informed us the inspection was delayed for a week due to “permitting issues”. If you are trying to maximize IRR don’t let this happen to you. Stoppages suck!
You can have Cheap, Fast or Good You can maybe have 2 of the 3 but not the 3rd Want it Cheap & Fast - it won’t be good
Roof trusses are great when everything goes according to plan… In this case, they arrived 3.5 days late, and the crane was deployed and waiting for hours for them to show up. This is mostly a reflection on the building supply company, who shall remain unnamed.
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