5345 LAKE ARROWHEAD RD
Updated Progress
04/22/25
Approximately 30–40% of the rehab work is currently complete, with a target to finish by the end of May and list the property on the market. A change in contractors was necessary, and all required paperwork has been submitted to the building department. Approval is expected within the week, after which three weeks will be needed to complete the remaining work. Contractors are expected to stay on schedule moving forward. The project remains within budget, and no additional funding is anticipated. No draws have been requested yet, with plans to submit the first request once 50% of the work is completed. Electrical and plumbing inspections have passed, with the final inspection to be conducted upon project completion. The projected ARV continues to align with the quality of work, and discussions with a realtor have confirmed a sound listing strategy, pricing, and staging approach. If the property does not sell quickly, a slight price reduction or potential refinancing are planned as contingency options.
03/28/25
Exciting progress on the rehab! With the final permit secured, everything is set to move forward, and work officially kicks off next week. Already 20% complete, things are shaping up well, with a clear path to wrapping up by the end of April. The next major milestone is getting it listed on the market for a strong debut. Photos will be available next week to showcase the latest updates!
03/10/25
The rehab is coming along great! The structural work was just wrapped up last week, which is a huge milestone. Right now, they’re still waiting on some permits to move forward, but everything should be back on track as soon as those come through—either this week or next. There’s no set time frame just yet, but things are definitely progressing. The next big step is getting the property ready to sell. Photos will be sent over to share with the PML soon.
02/26/25
The property rehab is making steady progress with key milestones reached, including substantial work completed on the structural repairs and installation of systems. Flooring is scheduled for completion this week. They are currently waiting for permit approval before moving to the next phase. While the timeline for completion remains unclear, work continues diligently, and the same contact will remain involved. No significant issues or delays have arisen, aside from the pending approvals. The next significant action will focus on securing the remaining permits and moving forward with additional interior and exterior improvements. Photos of the progress will be shared with the PML for review.
01/03/25
The property rehab is currently progressing through the initial stages, with some delays due to pending permits and inspections. Key milestones, such as plumbing and drywall completion, are still awaiting resolution as the contractor has been unable to proceed without the necessary approvals. The primary challenge has been the permitting process, which has impacted on the overall timeline. Once permits are secured and inspections completed, the next significant steps will involve cabinet, bathroom, and flooring installations, estimated to take approximately 4 to 6 weeks. Budget management remains on track, ensuring financial alignment with the project’s scope.
12/02/24
The property rehab is currently awaiting construction approval. The contractor is scheduled to visit the unit tomorrow to assess the current status and determine readiness for remodeling. While the remodeling plans are finalized, the team is awaiting the green light from the association. Progress has been delayed by approximately three months due to the association’s ongoing work on the electrical system for new drywall and plumbing. Once approval is granted, remodeling will commence promptly. The project remains on budget, and photos will be emailed shortly for updates to the Private Money Lender.
10/29/24
There has been no progress due to the ongoing deconstruction. However, the contractor visited last Friday and updated him that it will be completed by the end of November. She is still in the process of obtaining the necessary requirements, such as general permits.
10/11/24
There has been no progress on the property rehab yet, as the association is currently remodeling all the units. He said that he need to wait for them to finish before they can begin. Consequently, there are no key milestones completed at this time, and delays are occurring due to the ongoing remodeling work. The next significant action will be to wait until the end of this month. Budget-wise, everything is on track, and she will also send photos with the PML.
1st Month
3rd Month
