Hi Joshua,Im sure you are a wealth of information in the RTP market!!

Study the market.

You should consider looking into the Memphis market.

., other borrowers in your market, contacts for tried and proven contractors, etc).Of all things to do, you should not hide and ignore phone calls.And last but not least, if none of that works, list the property in hopes to recoup your losses and let another investor take over and get out of the project and take the lessons you learned and apply them to the next one.

You can go to Pricelabs.co and subscribe to their market dashboard for your area and see exactly how much other similar properties are earning.

This particular JV was structured to encourage a quick turnaround by increasing the rate of return if not completed and on the market by month 4.

The improvements boosted its market value, leading to a successful sale at $65,000 on 8/21/2024, showcasing our strategic approach and effective project execution.

Layer on better quality tenants and there are a lot of missed opportunities focusing on metrics that present favorably on a spreadsheet in the lower tier markets. 

I searched online but couldn't find any answers.What does the process look like and how long does it typically take?

We also try to note everything wrong that is readily visible and then categorize each issue as:1) Health & Safety2) Property Preservation3) Marketing Negative Impact4) MiscellaneousThis can help owners make better decisions on which repairs to prioritize, especially if they have a limited budget.