I think we’ve all had the dream of finding this incredible Old House, buying it for a song and turning it into something incredibly amazing, the perfect expression of Who We Are…a winning self-portrait (without the warts) in stucco, wraught-iron and stained glass. Of course for most (and I confess, for me) the dream bogs down quickly in the morass of economic reality and, just as important, wondering if I have what it takes to pull it off. I mean…We’ve all seen “The Money Pit”…bathrooms turning into cesspools, sub-standard wiring, endless plumbing repairs…How do you get started on something like this??
There are lots of old colonial homes being renovated here in Montevideo. One of them belongs to a new friend of mine, Robert…who is not only taking the plunge, but he’s managing work-crews and permitting with this almost Zen-like sense of calm. I sat down with him to have a talk and share his secrets:
Are you mad? What possessed you to take on a project like this?
I’ve done this my whole life as a weekend renovator, and increased the value each time. I did several homes on Long Island, New York and the Hamptons. Then Florida, and more recently Costa Rica where I built 8 homes in 3 years. Now here I am in Montevideo. It’s maybe my last stop. 
Why here?
Montevideo is my return to NYC on a small scale. [The neighborhood of] Pocitos is like living on the Upper East Side of Manhattan for 1/20th the price. I love it! The people are wonderful, and very European; it’s not at all like the culture I found in Central America.
Is moving money around a problem?
This is a bureaucratic nation with more rules than anywhere I have ever lived and contracted. Fortunately, the process also ensures things will get done correctly and you will be well protected if you follow the system.
Is there an End-Strategy here? Are you looking to eventually cash out and repeat the process? Or is this your Dream House and Nobody is Dragging you Out of Here?
The first house is mine and I hope to stay in it for many years with my new Uruguayan family. I am currently looking for additional properties to renovate for sales. We are especially looking at lower priced, distressed apartments to renovate and later rent or sell. Distressed properties in Pocitos range from $70,000 to $150,000 for apartments and single family homes.

Is this your first job in Montevideo?
Yes, we plan to move into our new home on July 1st, 2009 . It has taken 4 months to complete the interior, and the exterior will take another 2 months, but we can still live in it.
Any final thoughts or words of advice?
Be careful. Select the right contractor. Use a good architect, and call me if I can be of help. Costs can vary substantially and some of the high-end, larger architectural firms can cost twice what it could or should cost.
I think I’ll call you. Seriously. Can we come back and shoot some more pictures…just to see how things are going? I’m still having trouble visualizing the Jacuzzi in that space.
No problem. We’ll do another asado [barbecue Uruguayan-style] up on the roof.
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