INV Ref – PRX9401

The renovation is being funded privately, with no permits required for the work completed thus far. The flooring has been removed, but renovation funds will not be utilized for this as the reimbursement structure was unexpected and not suitable. Efforts are currently focused on securing refinancing and exploring gap lending options, with the goal of refinancing the entire amount as soon as possible. Initially, funds were anticipated at the closing to begin the renovation, but that did not materialize. Currently, $3,400 has been spent out of pocket on renovations, though this amount represents only a portion of the total costs. The goal is to refinance by the end of the month to pay off the outstanding loan of $169,000.