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UPDATES.md

Generated 2026-07-12T12:17:42.243062+00:00 from live Dropbox Public folders.

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# Property Updates ## 2026-07-01 - Property Update (07/01/2026): - Fellow owners, - Unfortunately the first buyer was likely not even pre-qualified or no longer interested. They backed out upon request for a current pre-approval letter. - The 2nd buyer went under contract for $85k cash AS-IS but [canceled](https://www.dropbox.com/scl/fi/snymkv6v0x912o41iruwm/mutual-release-Tim-Phillips-918-Fredrick-version-3.pdf?rlkey=6wtxiyi5xk6gyvgaubs2xo0jm&dl=0) after reviewing photos of the property's condi

Extracted Content

# Property Updates ## 2026-07-01 - Property Update (07/01/2026): - Fellow owners, - Unfortunately the first buyer was likely not even pre-qualified or no longer interested. They backed out upon request for a current pre-approval letter. - The 2nd buyer went under contract for $85k cash AS-IS but [canceled](https://www.dropbox.com/scl/fi/snymkv6v0x912o41iruwm/mutual-release-Tim-Phillips-918-Fredrick-version-3.pdf?rlkey=6wtxiyi5xk6gyvgaubs2xo0jm&dl=0) after reviewing photos of the property's condition and determining that they won't be able to get it insured in its current state. - We are bringing it back to market at $75k. If you have an alternate suggestion or offer such as taking out a hard money loan against the property to finance a rehab, we will need about $50k to bring its value to ARV of $140k. If anyone has any questions, concerns or ideas, please email ecosystemspm@gmail.com or submit a governance proposal. - Thanks, - Earl ## 2026-06-11 - Property Update (06/11/2026): - Governance Results for 918 Frederick Blvd: - The Governance Voting results are back for the owner-proposed vote. - The winning vote is: - Accept @ $85k - This voting option received 870/870 votes. - The vo