Risky business, Mina Starsiak Hawke’s ‘big dream’ seems to be fading

Reformer Role Starsiak Hawk She’s usually great on her Indianapolis revival show, “Good Bones.” But in the new spinoff, “Good Bones: A Dangerous Business,” it looks like her quest to convert a massive Victorian house into a bed and breakfast might just land her.

“A big Victorian project has always been a big dream of mine, and I finally got the chance to buy one,” she says in the first episode, “The Mina Precious Passion Project. It’s my biggest renovation and my biggest financial risk.

“I bought my mother from the company in a unique position in the business,” says Starsiak Hawk. She is fully retired. There is a lot of movement and reorganization at the company, and the decision to buy this may not be what anyone wants me to do.

Nevertheless, she is determined.

“I want this house to be a lasting legacy in the area, but it could cost me everything,” says Starsiak Hawk. “It’s obviously not the best business choice, but I think it’s good.”

She has been on shaky ground from the start. She paid $190,000 for the 23-room property, which includes a 5,500-square-foot main house with three stories and a 2,500-square-foot brick carriage house with two stories and a shed.

That sounds like a good deal, right?

“I’m thinking the renovation will cost me $500,000,” she hopes. Maybe a little hopeful.

The architect appraised the property and estimated the renovation would cost $600,000. Then the contractors she hires come in and give her an estimate of $727,155.

Starsiac Hawk would have to sell a lot of assets to cover that amount, and it looks like the project is getting riskier and riskier before it can break ground.

Still, she persevered. “‘Risky business’ is my name,” she says as she strides forward resolutely.

In doing so, she reveals some important renovation and real estate investment tips that any of us can use.

Always check the property history

There is no exact date for when the original house was built, but the original architect says it was probably built in the late 1800s.

But the online listing shows the history of the property, which, over the past five years, “has been passed from investor to investor to investor,” says Starsiak Hawk.

This gives important information, which investors think that the property will be an easy solution, but it is more than what they expected and finally abandoned. Also, Starsiak Hawk notes that the seller is flexible on the price and eager to get off the books.

Get creative with the house

A basement doesn’t just have to be a storage space, a playroom, or an extra apartment. Starsiak Hutch understands this, and since the main house’s large basement is completely plumbed and has walls that need to be torn down, she realizes it might be what she’s looking for.

“This is my favorite basement we’ve ever had,” she says. “I… I can do it [it] Just in a cool place where you can come down here and have a glass of wine, as easy as talking.

And she’ll still have room for all the HVAC equipment, because in a house this size, there’s going to be a lot.

Check the support on the second floor

Starsiak Hawke was surprised when the architect said the second floor of the carriage house was built without adequate supporting beams and columns.

“This floor was obviously added much later – and it’s not very good,” he says. This floor has no structural capacity to produce people here.

While Starsiak Hawke wasn’t surprised, she said the news was “disappointing because it’s such a big deal.”

Meanwhile, the front rack built into the chassis should go, even if it sacrifices a large amount of square footage.

“Typically we don’t want to reduce square footage and we’re taking maybe 800 square feet with this shed addition, but when we host events I want to have more space in the backyard,” explains Starsiak Hawk. “This is completely poorly constructed, it takes up the entire yard, and it needs to come out.”

With the cab rack gone, the front of the carriage house is quite impressive.

The reason for the time to get permits

Starsiak Hawke decided to work on the cart first, turning it into two apartments and an event center that could generate income while she finished the main residence.

“Unfortunately, starting construction is easier said than done,” says Starsiak Hawk. Work on the cart was halted for weeks due to problems with the permit.

Fortunately, other projects can be done while waiting for permits for the carriage house, so you don’t waste time. This includes demolition in the main house, work on the yard and more.

Will Starsiak Hutch complete her dream project, or will she become just another investor flipping her property? The next six episodes of this show will reveal the answer, and whatever it is, we doubt it’ll be easy.