We are happy to announce that rehab is just about complete for Community House. Work involved replacing flooring, kitchen upgrades, new appliances, painting, electrical work, and various smaller repairs. The basement is large and partially finished to make it a more useable space.
Using the walkthrough below, you can take a tour of the home. Click along the floor to travel to different sections of the house.
As we were nearing completion, a small leak was noted in the basement. After some investigation, it turns out the leak is coming from the water main leading to the house from the street. Unfortunately, as some of you home owners may know, even though the leak is outside the house, it is still the responsibility of the homeowner.
We have a professional team scheduled to dig up the sidewalk, repair the leak, and repave the area in the next few days. Believe it or not, they expect the entire job to take just a single day.
Once that final repair is complete, the house will be fully complete!
We already have a family identified through one of our resettlement partners and they should be settling in shortly. We are also beginning the refinance process to obtain a mortgage. As you might recall, we use some advanced financing strategies to purchase the house in cash and complete the rehab. Once everything is fully complete, we work with a lender to obtain a mortgage in order to get about 75% of the invested cash back out of the property.