138 Howell St.

Updated Progress

DATE: 03/18/25

The rehab process is moving forward, with completion on the horizon. The focus now is on securing the final permit from the city—just one last step before pushing ahead. Everything’s coming together, and once the approval is in place, the next phase will be ready to roll!

DATE: 02/12/25

The demolition work is done, and the city’s work order on the property has been cleared—definitely a step in the right direction. He also mentioned that, without even starting the major work, the property’s value has already jumped by $130K since they purchased it. Based on market trends, he’s confident the final sale price will land north of $850K once everything is completed. He apologized again for the delay and assured me that this unexpected setback is almost behind them. They’re planning to price aggressively to move the property quickly—now it’s just a matter of finishing the work. All contractors are on notice and ready to get their portions done. We’ll be getting regular updates from him, along with photos of the demolition work. I’ll keep you posted as things progress!

DATE: 01/22/25

Exciting news from the Atlanta property rehab! With permits finally secured, the team is back in action after some delays with the Historical Committee. Demolition is now full steam ahead, and we’re on track to wrap up this flip by the end of March. Efforts to clear the violations are making solid progress, with the next update scheduled for Tuesday. Ralf and the contractor are leading the charge, ensuring all future progress reports are streamlined through a group chat for better communication. While the project has faced some bumps along the way, we’ve put measures in place to keep everything on course. The borrower has also been reminded of the $100-a-day penalty to keep everyone accountable. The path ahead looks bright, and this project is confidently moving toward a successful completion.

DATE: 01/09/25

The rehab progress is advancing steadily, with the historical permit being the final requirement before moving forward. All approvals have been secured from the HOA, and once the city grants the permit, the team is prepared to proceed swiftly and complete the project in a timely manner. Optimism remains high that the property can be rehabbed and sold within a few months, ensuring a successful outcome.

DATE: 11/18/24

The rehab progress is moving steadily despite some challenges with permit delays. With the property being historically protected, additional time has been necessary to navigate the approval process. Encouragingly, the permit is expected to be issued within days, paving the way for the project to gain momentum. Although there may be a slight delay, opportunities to mitigate the impact are being explored. Overall, the outlook remains positive, with progress expected to accelerate soon.

DATE: 10/18/24

They are waiting on a permit to start some of the work. They have started some of the work inside the property.