What am I about to get myself into?

[Tiara Murray]

So as we all know, this is an absolute great time to get into real estate. However it is the worst time to get financed. I've studied the industry for about a year or so now and I am ready to make the leap and purchase my first property, however here's the thing... I do not have very much established credit... and not to mention I am getting deeper and deeper into debt being that I am jobless (and looking). Though my debt is small right now, I am afraid that it will affect me being able to get a mortgage or qualify for a hard money loan. What do you suggest I do? Should I wait to get out of debt (about $1,000 worth) or try to go ahead and get my first property (a buy and hold)? I really am ready to do this.