A lot has been happening with our fixer upper home in Waco. We are still in escrow so I am not going to show any photos yet. I can tell you we bought a double lot with a small house (and room for another if we are really brave). The home was built in 1910 and yes, it is another one-hundred-year-old home.
For those of you who missed my last post about Waco, we purchased the home in Waco as an investment. We are going to remodel it, furnish it and offer it as a short-term rental. We aren’t moving. We are kind of doing this as a project. For me! I want to learn more about project management and remodeling so this is my plan. And hopefully, you won’t mind if I take you along with me on this journey.
We are past the point of no return with the escrow and that is good. In other words, neither of us can back out without severe penalties. We completed the inspection and nothing was a surprise. We knew the home was a fixer upper and in pretty bad shape. It needs foundation work, electrical, plumbing, roof, and pretty much every other repair you could imagine.
I think some of you are surprised we bought such a run-down home. I have always wanted to restore a home that was neglected and needed lots of love. We looked at a ton of houses that were in pretty good shape. But they were more expensive and only needed some cosmetic changes. I wanted to make a difference and really do some work! When we found the large lot with the tiny home, I knew this was the one. (There is a chance that someday we might build a new farmhouse also on the lot. But that will be later. I am not ready for new construction right now!)
If you are wondering why I haven’t shown a photo of the home, I need to wait until after we close escrow. I don’t want to jinx it!
In the past few weeks, I have been interviewing contractors on the phone and setting up appointments for my next trip to Waco. I also put together a prospectus for the contractors which includes floor plans and a ton of photos I intend to use as inspiration for the home.
The next step is to close on the house on September 13th. I arrive in Waco on the 14th and then meet with contractors on the 15th and 16th. Hopefully, we will have bids back in within a week so we can select a contractor and start making progress.
My son and best friend will be joining me in Waco for a few days. I am so excited to show them what we bought. Oh, wait, since I haven’t actually seen the inside of the home in person either, I should mention that I am excited to see the house too. Yikes.
We do have a demo day scheduled. I am not sure how much we will accomplish but it sounds fun. Right?