INV Ref – PRX2804 – Suncrest Capital Group

517 SHERWOOD DR

Updated Progress

05/07/25

The project remains on track for closing, with significant progress made on interior and exterior work. Cabinets are fully installed, and countertop installation is being coordinated for next week. The bathroom has been completed, and window replacements are underway, including the conversion of a three-panel sliding door into two new windows. Landscaping has been cleaned up, with a few additional minor areas scheduled for touch-up. Exterior work is expected to begin by the middle of next week. Door frames, bay supports, and door trim have also been completed. The property is set to be listed for pre-sale in two weeks, with closing scheduled for the 25th. Progress photos are expected this coming Sunday.

04/21/25

The project remains on track with the original timeline, and steady progress continues. Partial cabinet installations are complete, with bathrooms approximately 90% finished — only minor details like mirrors, and toilet accessories setups remain. All flooring has been installed, and several cabinets are already in place, giving the space a fresh, updated look. Contractors have been consistent and reliable, completing tasks on schedule without any issues. Currently, about $35,000 is available to finish the remaining work, with an additional $5,000 needed for extra materials. Ralf is waiting for the borrower to return his call about the additional funds he needs. All required inspections, including building, electrical, and plumbing, have successfully passed, moving the project one step closer to completion. The finish line is in sight, and the results so far are impressive!

03/21/25

Exciting progress is unfolding as the rehab moves forward! Flooring installation is about to be completed, with a few adjustments needed to perfect the finish. The chandelier, outlet switches, and interior details are coming together beautifully, adding the final touches to the space. No pending permits or inspections—everything is cleared and on track. The next big step? Getting it listed on the market, where it’s sure to attract attention. Expect updated photos of the flooring this weekend, offering a closer look at the transformation.

02/25/25

The upstairs flooring is 75% complete and scheduled for completion this week, along with door installations. A key milestone has been achieved with the top already installed, and the second floor is expected to be finished by the end of the week. No issues or delays have been encountered so far. The next major steps include completing the second-floor flooring, installing kitchen cabinets, and finishing the bathroom by installing the vanity and tub. The project remains within budget, and photos will be sent to Ralf for sharing with the PML.

01/20/25

The rehab progress is on track, with the roof successfully replaced with a black metal roof, and the exterior cleared and prepared. Inside, the wood floors have been replaced, drywall installed, and the entire upstairs has been painted. One bathroom is now equipped with a tub and shower, and lights have been installed in two bedrooms. Final paintwork is in progress downstairs, and cabinet installation (Shaker style) is set to begin. Key milestones such as roof completion, mechanical unit replacement, and upstairs painting have been achieved. There are no issues or delays to report, and the project is currently under budget. The next significant actions include installing cabinets and flooring. Photos of the property are available to share with the PML, and the property is planned for flipping, not keeping.

12/20/24

Significant progress has been made on the property rehab. All demolition work is complete, with the interior fully cleared, drywall repaired, and popcorn ceilings removed. Flooring has been delivered and will be installed over the coming weeks, while the HVAC system installation is underway today. Finishes are scheduled to begin next week after the holidays, addressing the remaining interior elements. Exterior improvements include extensive landscaping, such as tree removal, regrading, and removing retaining walls. Additionally, the metal roof has been replaced. The next phase focuses on preparing restroom walls for paint, with primer and the first coat already planned. Paint for ceilings and walls has been ordered, and cabinets for the kitchen are ready for installation. Lighting updates will include recessed and new fixtures, while showers, toilets, and other bathroom features will also be addressed. Exterior hardscaping and landscaping will be completed as part of the finishing touches. The project remains on budget, with no delays or issues reported. Photos of the progress will be shared with the PML.