439 AVENUE F
Updated Progress
04/22/25
Great progress has been made with the removal of a portion of the roof and resizing of the porch roof, giving the property a fresh, updated look. The project is now approximately 75% complete, with steady progress continuing despite a slightly slower pace on-site. Everything remains within budget, and upcoming inspections for electrical and plumbing are in the works, with minor issues currently being addressed to keep things moving forward. Excitement is building as the transformation takes shape and the finish line comes into view!
03/28/25
Progress is moving steadily toward a timely completion, with each draw request carefully aligned to reflect work that is nearly or fully finished. Groundfloor has confirmed that stages don’t need to be fully completed before requesting a draw, allowing for a smooth and flexible process. While inspections assess projects at a 25% completion rate. Nonetheless, great strides are being made, and this project is shaping up to be a truly remarkable transformation! Latest photos have been uploaded to the portal for your review.
03/04/25
Progress is moving right along! The bathroom and kitchen are still in the works, but the end is definitely in sight. The living room isn’t quite done yet, but no worries—it won’t take long to finish. Expect both rooms to be wrapped up in no more than two weeks. The target completion date is set for March 31st—just around the corner!
Aside from switching to a different plumber and electrician, everything is going smoothly. The borrower submitted a new draw request last night, and now it’s just a matter of waiting for the inspector to set an appointment. Photos will be sent over today to keep everything transparent and on track!
02/04/25
Progress on the property continues with the installation of a new bathroom. Key milestones achieved include rewiring, switching pipes to PVC, and removing old copper pipes. Some delays were encountered due to electrical and plumbing work, but efforts are ongoing to resolve them. The next major step is completing the second bathroom, which is expected to be finished next week. The project remains within budget, though a request for a draw has been submitted after an initial approval of $3,200 instead of the requested $10,500. Photos will likely be available this week for review.
01/03/25
The property rehabilitation is progressing steadily, with significant advancements since the last update. The entire home has been rewired, and the interior rock has been completely removed. Attention has now shifted to the exterior of the property. Key milestones include the rewiring and preparation for further inspections, with the electrical box being relocated to a separate pole near the house. An electrician is scheduled to address this over the weekend, ensuring progress stays on track. Following the rewiring, work will proceed room by room, accompanied by inspections from the city inspector to maintain compliance. Sheetrock installation has also commenced, signaling the transition to interior finishing. The project remains on budget, with photos of the progress available for review.
12/02/24
Progress on the property rehab is ongoing. Work is focused on the exterior, with some interior items recently cleared. A full dumpster has been removed, and a replacement is expected shortly. Plumbing has been inspected, and electrical rewiring is underway to meet the homeowner’s preferences. Notable updates include the replacement of the kitchen, front door, and two-part windows, while the patio door is scheduled for delivery on December 6. No major milestones have been fully completed yet, as the project remains in progress. The primary delay encountered involves the electrical work. The next key step is to complete the siding on the house; however, work is temporarily on hold as the siding contains asbestos, requiring special permits before proceeding. Budget-wise, no draws have been requested so far. The current expenses are being covered through credit, and the project is still within budget expectations. Photos of the progress have been shared, with 18 images sent to Ralf last week via email. Regarding future plans for the property, the intention is to list it on the market upon completion.
11/04/24
The current progress on the property rehab involves work on the exterior, where the team is stripping the siding of the house. While this has been a slow process, they have successfully completed one side and part of the deck. Once this task is finished, the electrician will reinstall all electrical work. There are no key milestones to report yet; however, there have been no issues or delays with the rehab, and everything is proceeding smoothly. The next significant action will involve adding sheathing around the house once the siding is stripped off. Additionally, stone will be added to the lower store of the sheathing. They expect to complete the stripping and deep sheathing by Sunday. In terms of budget, we are doing well so far. Lastly, he can provide photos to share with the Private Money Lenders (PML); however, the contact was unable to take notes and has requested to be contacted directly to send the photos.
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SUPPORTING DOCUMENTS
WIRE INSTRUCTIONS
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STATEMENT OF WORK
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SIGNED JV and HHA
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SIGNED AMENDED JV and HHA
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RENOVATION ARV
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OPERATING AGREEMENT
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NO EXPERIENCE WORKSHEET
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JV and HHA
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APPROVED LOAN DETAILS
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AMENDED JV and HHA
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DEAL ANALYSIS CALCULATOR
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SIGNED MEMORANDUM
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