Another New investor

[Jake Johnson]

Hey everyone,

I have been an interested investor for quite some time. Typically, I tend to do a lot of homework before I jump into things. Over the past few months I have been getting more involved with my research. There are, however, a few things that I would like some outsider input on when it comes to expansion.

I am prepared to start investing with roughly $100,000 capital. I know that is a great amount for anyone to start! Where I run into issues is my credit score. I have been working on getting it fixed, but with most things this takes time. So, I am looking for some feedback with the direction that I should take. Now I am aware that there are a vast number of roads I can drive down with that kind of start-up cash. My main goal with investing is to get to enough passive income so that my Wife(also terrible credit) does not need to work.

During my research, I have decided that single family houses is where I want to be. So, now to the juice. My initial plan was to invest in 2 properties around the $40k-$60k/each range. Since my credit score is awful, I must assume that being able to refinance those properties even with a good ROI will prove to be troublesome (even with veteran loans & financing). Since I cannot refinance, being able to pull that cash back out and buy more properties is off the table. From that point I could sit and wait until I have earned enough capital to invest in another property; however, that is a long and slow road. Obviously pairing with a credit partner is another option. Although, it would slow down the process of owning my own passive income.

Sorry for the read, I tried to keep it short. In closing I am curious to suggestions and maybe success stories from people who were in similar situations.

Very Respectfully,

Jake