INV Ref – PRX3321

2955 E POINT

Updated Progress

05/02/25

The project remains under contract and is on track for closing, with all project milestones progressing as expected. While the asset is not yet on the market, listing preparations are actively underway. Title company details have not yet been confirmed, and that information will be shared once available. At this time, there are no reported challenges or delays, and the project continues to move forward smoothly in alignment with the planned timeline.

The rehab project is progressing smoothly, with the final permit inspection currently underway. Contractors have remained reliable, consistently showing up on time and completing tasks as scheduled. No labor shortages, disputes, or changes in the team have occurred, and the general contractor is pleased with both the pace and quality of work. Financially, the project is staying within budget, with approximately half of the funds disbursed and no additional funding anticipated. The projected After Repair Value remains realistic, supported by the solid craftsmanship throughout the property. A realtor has been consulted regarding listing strategy, pricing, and staging to position the property well in the market. If needed, a straightforward contingency plan is in place to adjust pricing for a quicker sale. Overall, steady progress and strong market potential continue to build excitement for the final stages of this project.

The permitting is almost finalized—everything is moving forward smoothly! Just about 30 days left to complete the project. Once it’s done, the plan is to sell, and that’s when the real excitement begins. Expect some great photos to come through soon, showcasing the transformation. 

The property is currently awaiting inspection before proceeding with closing the walls, which is expected to take place this week. This marks a key milestone in the rehab process. There have been no issues or delays, and everything remains on budget. The next significant step is listing the property on the market. Photos will be shared with the PML once the inspection is completed.

The property rehabilitation is progressing well, with the electrical work completed and ongoing efforts focused on plumbing. Key milestones align with these tasks. No issues or delays have been encountered so far. The next significant steps in the rehabilitation process include drywall installation, painting, and siding replacement. Budget adherence remains on track, and photos of the property are available for sharing with the PML.

All necessary permits have been approved, and work is scheduled to begin next week. This marks a key milestone in the project, with no delays or issues reported. The next significant action in the rehabilitation process is the installation of sidings. Budget adherence remains strong, with expenses currently tracking as planned. Photos documenting progress will be available once work commences next week. The project is on schedule and proceeding efficiently.

SUPPORTING DOCUMENTS

WIRE INSTRUCTIONS

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SIGNED OPERATING AGREEMENT

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SIGNED OPERATING AGREEMENT

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RENOVATION ARV

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OPERATING AGREEMENT

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DEAL ANALYSIS CALCULATOR

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STATEMENT OF WORK

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