INV Ref – PRX5187 – Suncrest Capital Group

1234 RUTLEDGE AVE

Updated Progress

03/18/25

This property is officially under contract, with closing set for April 11. Everything is on track, making it a fantastic opportunity that’s ready to go. The finish line is in sight, and soon, this rehab will be a done deal!

03/03/25

The borrower provided an update over the weekend, sharing that the buyer has decided to proceed with a mutual release. Despite efforts to keep the deal on track, the buyer chose to back out due to concerns about the closing timeline taking longer than expected. Additionally, the buyer reportedly parted ways with her agent and may have been facing personal challenges, according to the agent. As a result, the property is now back on the market for Rutledge.

01/10/25

The property has already been listed on the market, marking a key milestone in the rehabilitation process. No issues or delays have been reported, and everything is progressing as planned and on budget. The next significant action involves focusing on selling the property on the market. Photos of the property are available and will be shared to pass along to the PML.

12/09/24

The property rehab is progressing as planned and is now officially on the market. All key milestones have been successfully completed, and no issues or delays have been encountered; everything remains on track. The next significant step involves actively listing the property for sale. Budget performance has been maintained with no deviations reported. Photos of the completed property have already been shared with Ralf for distribution to the PML.

11/11/24

The property is set to go on the market this week, and he’ll provide photos if needed.

10/29/24

The property rehab is progressing well, with several key updates to report. The floors and exterior paint are completed, and the electrical work has been finished. The kitchen and cabinets have been installed, and the bathrooms are set to be finished this week. Countertop installation is currently underway. He is still waiting for the windows to be delivered, which are expected to be completed next week. There are no issues or delays with the rehab, and they are on track to finish almost everything. In terms of budget, everything is looking good. Additionally, photos will be sent to share with the PML.

10/17/24

The property rehab progress is moving very quickly, with the entire interior painted, wiring for the outlets completed, all LVP flooring and cabinets installed, and lighting finished—only awaiting the arrival of the other appliances. The bathrooms are expected to be finished in about two weeks. Key milestones indicate that the project is halfway finished and nearing completion. There have been no issues or delays reported. The next significant actions will involve completing the bathrooms and windows. Budget-wise, everything is on track, and he will send photos with the PML via email.