11/13/23 – I’ve included photos of the serial numbers for the equipment already at the property in the final photos. Once we get the condenser installed, we’ll send that also. Link to Photos

11/6/23 – Reno Final Update – We’re officially turning this one over to Rivertown. We’re done with this save for the condenser installation, so let us know when you all get a tenant lined up and we’ll get the install scheduled. I’m sending a link to the photos. Final Photots

10/30/23  – Reno Update – Week 2 – You’ll find the link to the progress photos below. My tech is down a couple of helpers, so it’s taken us a little longer than anticipated. We have the ductwork run and furnace set and will be connecting the gas line and tying everything in over the weekend to get this one completed by the top of next week. Link to Photos

10/23/23 – Reno Update – Week 1 – You’ll find the link to the progress photos below. We’ve repaired the damage to the wall, ceiling, and the touch up painting. We’re working on the HVAC installation and anticipate being done sometime next week. Link to Photos

10/16/23 – There are no photos as we just started this one on Wednesday but we were able to start. We’re working on getting the mechanical equipment installed minus the condenser.

9/27/23 – HUD Video Summary – Settlement statement attached. Be sure to confirm NOTHINGMAN LLC as Buyer on the Settlement Statement you sign. Let’s include $21,000 for renovation on this one. I would still like to target the $18k to $19k range on the actual reno but I want to try to minimize time spent with wire transactions. Scheduled to close this Friday, September 29, 2023. Total Wire Amount: $130,497.51.

9/21/23 – You’ll find the link to the walk thru photos below. The property is a 3/1 and located in a solid C+ location. There was no mechanical equipment, so we would need to do a full install including ductwork and a rough in. There are also quite a few locations that will need to have touch up paint. I’d recommend repainting certain rooms that would otherwise require a lot of touching up. Doing spot touch ups don’t look good because you can always tell and see where the wall was touched up. To do all of that, you’d be looking at a ballpark estimate of 18-21k (this INCLUDES the fee). See summary below.

Roof: The roof is fairly new, so we won’t need to replace it.

Exterior: The exterior was in good condition. We’d likely just be installing some crawl space vents.

Interior: The interior has been renovated but there are some items to address like some repainting in some areas, some plaster repair, and other miscellaneous repair items.

Mechanical: The property does not have any mechanical equipment, so we would need to do a rough in, cut the vents, install the furnace, condenser, and water heater.

Electric: The property was on breakers and the power was on.

Gas: The meter was present.

Appliances: There was a microwave present at the time of the walk thru.

Additional: None

Pictures: Walkthrough Inspection

Confirmed market value: $153,890 to $202,855

Confirmed market rent: $1,250 to $1,450

Deal Analysis: WORST CASE SCENARIO → ANTICIPATED SCENARIO
Closing Date Scheduled: 9/29/2023
Total Cash Outlay: $129,000.00