INV Ref – PRX1330

4104 FOX HILL RD

Updated Progress

02/20/25

The property rehab is now fully completed, with key upgrades including a new gas stove and a roof for the bars. Despite challenges with the contractor causing delays, the project is set to be sold on March 10th. Budget constraints led to exceeding the initial financial plan, but the property is now on the market, showcasing all the improvements.

The property rehab has been fully completed, with no issues or delays to report. An inspection report has been finalized, and the property is now listed on the market, with closing expected on the 20th of this month. The project remains within budget. Photos are available upon request.

Exciting updates are available for 4104 Fox Hill! The property has been listed on Zillow for the past 20 days, garnering an impressive 701 views and 46 saves so far. Zillow’s analytics indicate that this property is likely to sell faster than 80% of comparable listings in the area—a very promising sign of its appeal. Additionally, discussions are underway with the borrower regarding the possibility of an out-of-pocket payment prior to the sale, as this project is due on the 10th. Further updates are expected soon as efforts continue toward finalizing this transaction efficiently. Thank you for your continued trust and support as progress continues toward achieving the best possible outcome for this project.

The property rehab is progressing well, with key milestones such as the completion of new bathrooms, a renovated kitchen, fresh paint throughout, installation of two new garage doors, granite countertops, and a ceramic backsplash already achieved. The project is nearly finished, with no reported issues or delays, and the next step involves final touch-ups. Photos will be emailed soon for sharing with the Private Money Lender. Regarding plans for the property, they intend to list it on the market once the rehab is complete.

The progress on the property rehab has been significant. The port bedroom with a closet has been completed, featuring freshly painted ceilings and walls. The entryways to the dining room have been modified, and three showers along with a bathtub have been removed to make way for a modern bathroom. Landscaping is also finished. The cabinet fronts and kitchen installations have been completed, and vanities are scheduled for installation this week, along with the flooring. Overall, the property is on track to be put up for sale next week. Key milestones achieved include the completion of the port bedroom, changes to the dining room entryways, and the removal of old bathroom fixtures. However, there have been some delays between Jon and the contractor, as well as a backorder on the flooring. The next significant action is to put the property for sale. In terms of budget, the project may be slightly over budget, with an estimated excess of about $3,000 to $5,000. Photos will be sent to both Ralf’s email and phone number for sharing with the PML.

For the second property, he said that the rehab progress has been quite positive. The painting is complete, and a door has been added to create a fourth bedroom, transforming the layout from a 3/3 to a 4/3. Renovations and installations are currently underway for the cabinets, bathrooms, kitchens, and showers. There have been no issues or delays reported with the rehab. The next significant action is to list the property for sale next week, as it will be finished by then. In terms of budget, everything is on track, and photos will be sent for sharing with the PML.

1st Month

SUPPORTING DOCUMENTS

SIGNED MEMORANDUM OF JV

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SIGNED MEMORANDUM OF JV

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SIGNED MEMORANDUM OF JVA

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SIGNED JV and HHA

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TERM SHEET

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RENOVATION ARV

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WIRE INSTRUCTIONS

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EXPERIENCE WORKSHEET

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STATEMENT OF WORK

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AMENDED OPERATING AGREEMENT

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