2013 TALLADEGA HWY
Updated Progress
04/15/25
After speaking with Julie (the borrower), she confirmed that she is wholesaling her project to another flipper. She’s currently working with a realtor to assist with the transaction and is scheduled to meet with both the buyer and the realtor tomorrow. Julie feels confident that she’ll be able to move the projects and ensure her investors are paid off. In the meantime, we’ll follow up with her at the end of the week to get a clear understanding of how the meeting went. If everything checks out, we’ll begin requesting payoff letters from the investors on her deal.
03/11/25
The rehab is progressing smoothly, with Tucker set to be completed by next week, marking a key milestone. There are no pending permits or inspections, aside from the air conditioner, which is not yet ready for installation. Once Tucker is finished, the remaining work should wrap up within 30 days. The next significant step is getting the property on the market and selling it with a realtor. Demolition photos were shared previously, and once Tucker is finished, updated photos will be sent to showcase the progress. Everything is on track and moving forward with excitement
01/20/25
The interior demolition work has been successfully completed, and the dumpster has been removed. Additionally, the under-house air vents have been detached in compliance with city requirements, paving the way for the installation of new attic ducting and the handler.
01/10/25
The inspection revealed an issue with the main drain of the property due to flooding, which caused the air conditioning system to be located underneath the house. As a result, the ducting work needs to be removed and reinstalled. A vendor has been secured for the necessary work, and the required permit will be submitted by Monday. Preparations are underway to begin clearing out the area beneath the house. Regarding key milestones, the progress aligns with the previous update. There are no major issues or delays to report at this time. The next significant action will involve starting the cleanup and demolition work to prepare for further rehabilitation. The project is currently on budget, and photos of the property will be provided for the PML.
12/10/24
The borrower has encountered some delays in accessing her draws, which has slightly slowed construction progress. After discussing the situation with her, she shared that she plans to visit the property on 12/13 to gather updated photos and connect with the new contractor’s team for more detailed updates. She’s actively working on implementing a more efficient system to manage all the contractors across her three properties. She also mentioned that she had been managing the projects remotely over the past two weeks due to a personal matter but is now fully focused on getting things back on track. She appreciates your patience and understanding as she works to bring everything up to speed.
11/25/24
The contractors have temporarily paused work due to delays in the release of this draw, which has taken longer than expected. She said that as a contractor myself, I can understand the situation. Hopefully, the issue will be resolved today, allowing us to move forward with the project. She will continue to keep us updated on the progress as things move along.
1st Month
