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$500 Million Mega-Mansion Goes Into Receivership After Owners Defaulted

This could be the ultimate flip or maybe, the world’s biggest flop…..Either way, a half billion dollar ($500 million), 105k sq. ft. mega-mansion in Los Angeles recently went into receivership after the owner defaulted on more than $165 million in loans & debt. CNBC is reporting that the house, also known as “The One,” was placed into receivership by the Los Angeles County Superior Court and is expected to be relisted at a lower price in the near future. Interestingly, not only does the house have 4 infinity pools, but it also has a giant moat to keep out uninvited guests. Continue reading HERE...

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