Even after knowing the equity of the real estate property that you intend to buy, you need to determine your budget. Ensure that you have enough money to make the purchase. The other important factor is to look for an experienced real estate agent who will assist you with the search. Ensure that you hire the services of an agent who understands the whole neighborhood well. They should tell you the current market prices. They should also negotiate for a good deal much faster.
The fact that you have a poor credit history, will not affect your chances of investing in the real estate market. After determining the equity, your next step should be to search for low rate mortgages. They are commonly referred to as second mortgages for people with bad credit. The fact that you messed up your records several years ago, should not hinder all your openings today.
Only remember to complete your homework and do proper research. You must investigate the best deals around for which you will find the internet to be the best way to get the kind of information that you may be after. You could also look for companies that officially auction residential property so that you could get something well below the market price which happens to be quite rare.