i currently own two homes.
one in TX, sad to say (which is going into foreclosure, working with a lawyer in TX to surrender it back to the lender), (my credit is dropping )
i also own a home in queencreek, AZ. i had for about 7-9 months, maybe more.
i still want to invest in real estate.
but with foreclour/shortsale on my credit report looks pretty bad.
do you guys think my credit will go back up since i am making payments for my AZ house?
so, what do you guys happen i do???
i think i can do 1031 exchange, but my credit is still bad 
What type of score is your credit? It will take a while but if you continue to pay on AZ it can’t help but go up. But that foreclosure isn’t going to look good for a few years.
Have you looked into selling the property in foreclosure. Its always better to sell then have it foreclosed on. If you have equity it should be easy to sell.
Just wondering if you explored all your options before foreclosure came up on the TX property… Something like this will hurt you for awhile…maybe you have some equity in your AZ property that you can refi or take a HELOC to catch up the TX property and give you some time to sell for the mortage amount…
What city is your foreclosre in??
I don’t mean to be nosey and if you don’t want to answer me that is fine…
As a new investor I definitely have a fear of failure. What went wrong with this investment property to go into foreclosure? Thanks in advance for helping a new investor…
I would sell the Texas house before letting it go to foreclosure. I would well it even if I had to write a check at closing (depends on how big a check I would have to write).
How soon is your foreclosure? Can you do a short sale, forebearance, or work with them?
If it’s pretty soon, an investor will purchase it, but ask for 60-80% of market value. If you have time, you can try to sell it at market yourself or get an agent to do it. Some agents in your area may specialize in this sort of thing. You can also try to attend your local real estate investment club to meet agents or potential buyers.