2.12.2020 Project 1 update video 3433 E. Sells Dr https://youtu.be/nLT2S_Sw3l8
Hi there Shane cook here doing an investor update for PhixNPhlip.com out here at 3344 E. Sells Dr.
Gwendolyn Butler is who did the architecture on this project. This is our first crowdfunding project that we put together. Revival Renovations did all the construction on this project. Like i said 3433 E. Sells Dr. We are already under contract for sale on this one. so that’s good news! Even better news, is that we made it through the inspection period and agreed to any remaining upgrades or repairs that need to be done. So that is actually fantastic news!
Investor update– I’m gonna go inside here and like I said after being on the market for about three weeks we were originally listed at 948K.
We got a cash offer on the property that does not require an appraisal. So we mostly just needed to get through our inspection contingencies and agree to anything that might need to be finished up on the property. In addition to changing out a couple of windows that we’re waiting on to finish up our certificate of occupancy. So with those few final repairs and the certificate of occupancy completed here in the next few weeks we have a closing date towards the end of March! Just those repairs required to close no appraisal required and like I said the cash buyer.
So cool, they go back in here in the master bath. A stunning master bath, so check out the listing pictures pending now!
Since we’ve cleared all of the contingencies and just need to finish up our repairs and the closing itself. So late March early April we’ll be able to close out the investment part of the crowdfunding project here at Sells Dr. and be able to tell you exactly how that went. We do expect it to go better than the 12% to 18% we’re targeting and I can let you know that for those of you who paid attention to the investment scenarios, the contracted sales price is higher than any of the scenarios in the investment package. Additionally, it took longer and the construction costs are a little higher. So that all comes into account as well, but like I said hixNPhlip.com we are finishing up our first crowdfunding project here at 3433 Sells Dr and in April we should be looking to write those checks and send them back out to the investors and give you the number for number on how we did on a return. Thanks and have a great day!