3306 Tucker
Updated Progress
04/15/25
After speaking with Julie (the borrower), she confirmed that she is wholesaling her project to another flipper. She’s currently working with a realtor to assist with the transaction and is scheduled to meet with both the buyer and the realtor tomorrow. Julie feels confident that she’ll be able to move the projects and ensure her investors are paid off. In the meantime, we’ll follow up with her at the end of the week to get a clear understanding of how the meeting went. If everything checks out, we’ll begin requesting payoff letters from the investors on her deal.
04/03/25
03/14/25
02/28/25
The rehab project is progressing well, with just two weeks remaining until completion. All interior materials have been picked up from Home Depot, and work on the interior will begin next week. The following week, focus will shift to the middle roof and exterior work. There are no pending permits or inspections required to proceed to the next phase. The estimated completion date is March 14, with a realtor already in place and an open house scheduled. No delays have been encountered during the process. Recent photos from the borrower, received three days ago, have been uploaded to the portal for review.
1/20/25
The property rehab is progressing positively with several key updates. In the living room, sanding and wall preparation have been completed, followed by texture spray and knockdown application. Similar progress has been made in the bedrooms and hallway, with sanding, wall preparation, and texture knockdown finalized. Preparations for painting are scheduled to begin on Saturday. The kitchen and dining room have also undergone sanding and wall preparation, with texture spray and knockdown completed. Plumbing repairs were addressed promptly after identifying leaks when the water was turned on, with final adjustments scheduled for completion by the plumber on Tuesday. The selected color scheme and paint have been purchased, designed to integrate seamlessly with the cabinet bases. Flooring materials have also been secured and are scheduled for installation during the week of January 27, 2025.
1/10/25
The rehab project has encountered a brief setback due to contractor changes, which delayed progress. However, a new contractor was secured promptly. By December 1st, the second phase of demolition was completed, including the delivery of a dumpster, removal of debris left throughout the house, and clearing of fallen gutters and fencing. Additionally, trees were cut down and shredded, and wallpaper was stripped from the walls. Key milestones, as mentioned above, have been reached with the completion of the demolition phase. There are currently no outstanding issues or delays, and the project is progressing smoothly. The next significant action will involve installing drywall this week, followed by plumbing and subfloor installation. The project is on track and staying within budget, and photos of the property will be shared for further updates to the PML.
12/10/24
The borrower has encountered some delays in accessing her draws, which has slightly slowed construction progress. After discussing the situation with her, she shared that she plans to visit the property on 12/13 to gather updated photos and connect with the new contractor’s team for more detailed updates. She’s actively working on implementing a more efficient system to manage all the contractors across her three properties. She also mentioned that she had been managing the projects remotely over the past two weeks due to a personal matter but is now fully focused on getting things back on track. She appreciates your patience and understanding as she works to bring everything up to speed.
11/20/24
Here are a few of the progress photos of the demo work that’s being done. I’ll have more this week, and we should be done with the demo Wednesday/Thursday.
We’ll also be putting in for a draw request this week on this project, to help with getting some cash flow, to help with next phase of the project.
As I mentioned before, I know we fell a little behind schedule when we lost the original contractor, but I’ve been assured we should only be in construction for 30 days by the new contractor. So, if that’s true then we’ll be right on track because we slated 4-6 weeks, originally. So, that’s great news!
11/01/24
She explained that the original contractor was unresponsive, missing appointments and not returning calls. After several attempts to reach them, she decided to hire a new contractor. The new contractor visited the property, accepted the project, and scheduled his team to begin work. They officially started yesterday morning and will be sending progress photos, expected by Monday. Although today is a shorter workday, progress is steady, and she will continue to provide updates and photos.
10/11/24
The property rehab progress has had a late start, with utilities turned on and demolition beginning about two weeks ago. Cabinets have been ordered, and the drywall must be completed before painting can commence. Work is currently in progress on the hardwood floors, with a notification to complete everything within 45 days. Key milestones achieved include reconnecting utilities and completing the demolition work, along with scheduling for paneling and painting. However, there is a delay of 2.5 weeks due to the late start. The next significant action will be to proceed with painting, tackling both the interior and exterior simultaneously, while finishing up the hardwood flooring. Budget-wise, everything is on track, and she will send photos with the PML.
2nd Month
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5th Month
6th Month
