Housing continued...

I bid on a house today. A foreclosure, a great deal and it will make perfect rental property when I move on. At just shy of 1200 sqft, it is the perfect size for me! I will know if all goes well and the offer is accepted in a few days. The price is so great, even with all taxes, insurance and mortgage, it will be more than $200 less than my rent.
Amazing.

My Realtor states that 1 in 10 homes will foreclose in 2009. That's the estimate.
Very scary...
However, a feeding frenzy for investors.

At any rate, this will begin my real estate investing. My goal would be to purchase one more before the end of 2009.
We will see....

I am scared, excited, cautious and curious. What will I learn next?? I have wanted to do this for a very long time and have spent quite a lot of energy getting ready to do this.

Well, here I go!