There’s the back of my 40’s recession renovation. It looks like the Road Runner hooked it up to his neck and took off down the road.
I’m sorta like Wile E. Coyote, suspended in the air, waiting for the big drop.
This mess should strike some serious fear in me, but it doesn’t. I’m excited about turning this rubble into money some time in the future. Emphasis on future. (plus I’m grateful we have this option)
The same day the very hardworking crew came to demolish the old garage and carport on the house , my sister text to ask when the “renovation” would be finished.
“It’s getting bigger.” I typed.
“What’s getting bigger?”
“The house. We’re adding on more square feet.”
Her response: “What the @#!*”
We’ve done the math mamas and papas. And this pile of bricks and wood must get bigger… so it can eventually turn a profit.
Here’s some of the logic behind this madness. If the house is bigger, we can ask more in rent… Attract more interest… and get more money in a possible sale.
You’ve heard the expression “you’ve got to spend money to make money right?” Well… here we go a writing checks.
Instead of putting our money back into the stock market it’s going into this old house. It’s safer in the dirt, bricks, wood and mortar than with Dow Jones. Seriously! He sucks.
Besides no one is buying lots with tear down homes. So what else can we do?
Did I mention the value is in the location? It’s surrounded by some of the most expensive real estate in Dallas. It just happens to be the ugly, old gal on the block.
But not for too much longer. We’re going to whip ole “Gertrude” into shape. I’ve named her.
She looks a little bare I know. But she’s really a rare gem y’all. Once we are finished, all of her 4-to-5 bedrooms will be on the first floor. That’s unusual in this area and super appealing to people who don’t want to schlep up and down stairs. She also features a good layout and some of the craftsmanship no one can afford anymore. (we just have to freshen her up a bit. OK a LOT)
She’s also a hard lady to read. I think families will want to rent her for the school district. But I see empty nesters or a divorced person buying her.
“Gertrude” is a long term commitment. She’ll be a part of the family for 3 to 5 years… or until she earns her keep. Let’s just hope she’s not tricky like the Road Runner… and I fall on my face like The Coyote.