Things are progressing nicely with my upcoming project. A few roof issues came up early in the week, but the seller took care of things to our satisfaction. The title work is complete, we have loan commitment and our line of credit for construction funds is in place. Other than meeting a few contractors at the property, its pretty much a “sit back and wait” kind of deal until the 23rd.
Actually, we are keeping busy while we wait for everything to really get started. For example, I was at the property just today doing some work in the yard with my brother (who I am partnering with on the deal). Despite the fact that we don’t own the property, we wanted to clean up the trash and leaves in the yard to allow the grass to grow unobstructed so it will be in the best shape possible when we put it one the market. I took a few pictures while we were there to give you an idea of the condition of the property.
I’ll post a break down of the financials of the deal next week.