Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

2
Posts
1
Votes
Anthony Ogburn
  • Augusta, GA
1
Votes |
2
Posts

Investing in my first house with poor credit

Anthony Ogburn
  • Augusta, GA
Posted

Hello everyone. I am brand new to investing but I am extremely interested in real estate and always have been. I have read many books and listened to a lot of podcast and webinars on bigger pockets.

I am 22 with a wife and kid on the way, and was on the fence on investing now or next year. Right now my credit is in the low 600s (made many mistakes as a new adult) and my lease is coming to and end in September. I am also in the military and had plans on leaving this duty station next year. I get basic housing allowance so I don't like wasting it more than i need to. the cost of my rent is 1300 on post and i see houses being rented for 1000 off post, so I know i can pay a lot more for the mortgage and gain some equity out my BAH.

So my questions are is it a good idea to start a new loan with low credit even using a VA loan? Should I wait till next year to get to my new duty station and buy there so I can get a few more years closer to it as an investment, and get my credit score up a bit?

Thank you again in advance.

Loading replies...