130 EVAN DR ELKTON MD
Updated Progress
04/08/25
Jessa spoke with the borrower, and she mentioned that she’s working on refinancing the property. We don’t have an actual closing date yet, but we did just receive the title company’s information.
The next step will be gathering the payoff letters from all the investors, but so far, we haven’t received a formal request. She did reach out to our loan originator for help with the refi—we just found out about that today.
03/12/25
The rehab is so close to being finished—just a few final touches left! Things are moving along smoothly, and everything is on track. The plan is to refinance by the end of March, which is just around the corner. Once the final draw comes through, it’ll be all wrapped up, and everything will be on track for a successful finish.
02/12/25
The property rehab is nearing completion, with all key milestones successfully achieved. No issues or delays have been encountered throughout the process. The next significant step is the installation of countertops, scheduled for Thursday. The project is currently over budget, but only doors, trim, and final paint touch-ups remain. Photos can be provided to showcase the progress.
01/10/25
The property rehab progress includes the completion of all bathrooms and drywall in the basement. Work on the flooring is currently underway and is expected to be finished by next week. The primary milestone achieved so far is the completion of the bathrooms. There are no reported issues or delays at this time. The next significant task is completing the flooring. No draws have been requested yet, as all expenses have been covered personally. The project remains under budget according to the current update. Photos of the property are available to share with the PML. Regarding future plans, the property owner intends to refinance and retain ownership of the property rather than listing it on the market.