Listed for $1 Billion. Sold for $100,000.

Don’t forget to subscribe for more videos like this one! Thank you for watching! 'The Mountain' is one of the most interesting luxury real estate stories in Los Angeles history. This coveted piece of land was originally acquired in the 1980s by a royal family, and 30 years later was being marketed for sale for a whopping $1 BILLION DOLLARS. Today we dive into the story, and what went wrong. We've talked a lot about luxury real estate deals here on the channel, with homes priced from $10 million dollars all the way up to $500 million dollars. But this story makes for one of the most fascinating yet. Just a few years ago, power broker Aaron Kirman was marketing this piece of land in Beverly Hills for sale for $1 Billion Dollars. At about $6 million per acre, it wasn't all that ridiculous of a price, but after some heavy marketing (Aaron Kirman was said to have spent as much as $1 million just in marketing alone) the property ultimately sold at bankruptcy auction for just $100,000. The story has a lot of twists and turns, and today we break it all down. I hope that you enjoy this video and if you have comments please leave them below! See you next video! -Scott #realestate #themountain Disclaimer: This channel, and any communication shared during these videos, should not be taken as financial or legal advice. Viewers should retain their own legal counsel or financial expert(s) before making their own decisions. If you need legal advice, please contact an attorney directly. If you need financial advice, please contact a Certified Public Accountant or a Certified Financial Planner or other licensed professional. I (Scott Edward) am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, or financial advice. And one more thing.. Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel.