I am now a homeowner!

Today I closed on my first house. I bought a foreclosed home in Decatur, GA, an inner suburb of Atlanta, for a really low price. I estimate that my equity after the remodel will be around $30,000.

I used an FHA loan to purchase the house and it was quite a process with inspections, HUD rules, insurance, escrows, etc. It took me nearly 4 months from looking at the house to purchase but I am finally done with it and am happy that it worked out.

This weekend I will begin construction and try to get as much as I can done with my Dad in town. It is going to be a lot of work but a major payoff in the end.