2409 NW 7TH AVE

Updated Progress

03/17/25

Exciting progress is underway! The property has been under contract since March 4, 2025, with closing expected on April 21, 2025. While the MLS status will be updated soon, it remains available to entertain backup offers—always great to keep options open. Next steps are in motion, with the title company working closely with GroundFloor Lending to gather all necessary details. Everything is moving forward smoothly, keeping things right on track for a successful closing!

01/25/25

The property rehab project is currently pending due to a delay caused by issues with the contractor’s association, which has been further impacted by a 4-6 week setback due to a hurricane. Despite these challenges, the project remains on budget, and the next key step involves contacting the association to determine when work can resume. Photos of the property have been taken and will be shared via email for review and updates to the PML.

01/06/25

The property remains actively listed on the market, with a strategic price adjustment scheduled in the coming days to enhance its appeal and align with current buyer trends. This proactive approach is expected to generate increased interest and attract potential buyers. Inquiries have been made with the lending partner regarding detailed terms and benefits of a DSCR loan, which will provide valuable insights to evaluate this financing option. A response is anticipated soon, and every effort is being made to ensure the project progresses toward a successful outcome.

11/05/24

They have made significant strides in the property rehab, with interior renovations now 95% complete; only touch-ups and finishes remain for the final 5%. A key milestone achieved has been the completion of the kitchen and bathrooms, enhancing the overall appeal of the property. However, they’ve faced some setbacks due to online orders, as we received damaged items that needed to be returned. Our next significant action involves clearing out the remaining bulk in the garage and purchasing appliances. We are currently staying on budget and feel confident about our financial management so far. We anticipate putting the home on the market on or before November 14th. Additionally, I can provide photos to share with the PML.