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.