Finally Closed on My House

I can now say I own more than one property! I'm almost a land barron :) Closing was uneventful. Luckily the closing was only delayed a total of 6 days as a result of the last minute issue uncovered at the initial scheduled closing.

Its pretty exciting; I am looking forward to turning this home into a positive cash flow property in a few years. Until then I have lots of projects including relandscaping the property and adding a new bathroom which will both help increase the value of the place as well as its rentability.

I was originally concerned that I was buying right on the edge of a housing market collapse. However, the market is still growing at a healthy pace in Raleigh, NC. We haven't experienced much of any real estate boom and I think that this area is just starting to catch up with most of the country. I see little downside risk at least for the time being as I don't ever plan to sell this property.

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Comments (6)


DATE: 11:26 AM
congrats on getting another home and good luck in making it a positive cash flow!

DATE: 10:51 PM
congrats!

DATE: 11:03 PM
Just for your information, stagflation : -http://articles.moneycentral.msn.com/Commentary/Experts/Jubak/Jim_Jubak.aspx?msn=1Anonymous Millionaire.

DATE: 11:32 PM
Congrats!It defintely can be hectic but once it's all done with, it's defintely worth it.Tomgotalkmoney.com

DATE: 5:51 PM
can you give any tips for first time home buyers? what are some considerations that you used before buying (location, did you consdier appreciation - if so what did you use to make this assessment)? from the look of things you didn't use a realtor - I am guessing you felt comfortable with the signing all the final paperwork.thanksEric

When i bought my home I went online to B of A because the gave 1/4-1/2 point discount on my loan. Also, I'm a long time customer with a good track record with them.

When looking for a mortgage, don't go through a broker, go where they go- the bank. That's where the money is. This way you can cut out the middle man and not have to pay a brokers fee.

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A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
Current Net Worth: $1,574,185

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