INV Ref – PRX1489

1614 LAKESHORE BLVD

Updated Progress

04/22/25

Significant progress has been made since the last update, with all demos completed,  haul off is complete, texture is complete. Paint, flooring, trim, and baseboards are scheduled for completion this week. Contractors have remained consistent and reliable, with no labor shortages, disputes, or changes in the team, keeping everything right on track. The project continues to stay within budget, with a recent draw request submitted and the inspection completed last Friday; approval is currently pending, with disbursement expected tomorrow. No additional funding is anticipated for the remainder of the project. All work so far has not required permits, with the exception of the HVAC, which will need a permit soon. Overall, steady momentum and smooth operations continue to move the project forward.

Exciting times ahead as preparations are in motion for the rehab to begin soon! The seller is on track to have belongings cleared out by the 31st, ensuring a seamless transition. Once that’s wrapped up, the focus shifts to the next big milestone—getting the property listed for sale. Inspection photos will be shared for review, offering a closer look at the property’s current condition. 

Day 15

1st Month

SUPPORTING DOCUMENTS

SCOPE OF WORK

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PRELIM TERM SHEET

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SIGNED PRELIM TERM SHEET

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NO EXPERIENCE WORKSHEET

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DEAL ANALYSIS CALCULATOR

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SIGNED OA

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SIGNED JV AND HHA

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SIGNED JV AGREEMENT

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SIGNED APPROVED LOAN DETAILS

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OPERATING AGREEMENT

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JV HHA OA PG PN

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JV AGREEMENT

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HHA

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