Chip and Joanna Gaines reportedly "want to invest" in a home in Montecito, Calif., and potentially expand "their property portfolio." The creators of the hit HGTV show "Fixer Upper" currently reside in Waco, Texas -- where they started their brand Magnolia. "They’ve fallen in love with Montecito and have looked around a couple of houses that are up for sale in the area," a source told Closer Weekly in a report published on Friday.