INV Ref – PRXKNRD

Work just got underway last week, with painting in progress and permit prep ongoing for what was originally listed as foundation repair. However, the borrower realized the scope of work needs to be adjusted—foundation work was included by mistake and will be revised to reflect regular flooring instead. The plan is to complete the rehab work in the first month, spend the next 30 days securing tenants, and use the final 30 days to close on a DSCR loan. For now, they’re focused on the two easiest units rent-ready, with the studio unit planned as the final piece to work on.