UPDATE ON THE UPDATE: But WAIT, there’s more! Yep, apparently whatever other wonderful offer the seller thought was coming through did not. So we are back under contract. Oh, the ups and downs of real estate investment!
UPDATE: Nope, we are not doing this one. Turns out that the contract we signed had a clause saying the owner had to approve the price, and the owner didn’t like the offer we gave to the wholesaler. And when we saw the amount of repairs the foundation needed, we couldn’t raise the numbers. At least two of us are quite bummed. The hard-headed business half of the team, though, was right. We still want to work on a house in Taylor, so if anyone knows of one that might work for us, do share!
Things are moving right along for the Hermits! Today we signed a contract on another renovation property, in a town we have wanted to work in for quite some time, Taylor, Texas. Home of the Ducks! It’s not too far from Round Rock, which makes it one of the far suburbs of Austin. Taylor has a number of wonderful neighborhoods with charming, renovated Victorian and other older homes, plus some nice new neighborhoods. The town has some good shopping areas (even a coveted Wal-Mart), and has a downtown that has hugely improved since we first started visiting there. There are now fun bars, restaurants, and live music is happening there often!
Sue Ann and Lee have a stepson there, and are friends with the guy that runs the local newspaper and the Chamber of Commerce head (that’s why we know so much about the lively social scene). So we like this place.
We also like this house, which Russell inspected closely before we purchased it from a wholesaler. It’s a hundred years old (or so) and in a nice part of town, near a main road but far enough away that it isn’t noisy. It has a large lot with three outbuildings, and already has a good roof and downstairs flooring. We just need to fix up the kitchen and bathrooms, paint it inside and out, replace the perky red and blue upstairs carpeting, and then see what we want to do with it. It has just two bedrooms and two bathrooms (1350 sq. ft.), but all are a nice size.
There are three big outbuildings, too. Someone who is a handy person would really love this house, or someone who works on cars. We will see!
We hope you enjoy these “before” pictures. We look forward to sharing progress.
By the way, the Meadow Arbor house is getting its interior painted, and new flooring arrives Monday. We are awaiting photos so we can share those, as well.