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Updated almost 3 years ago on . Most recent reply

User Stats

55
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Michael Mackney
  • New to Real Estate
  • Long Island
19
Votes |
55
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Should I be concerned with hard credit checks after first deal?

Michael Mackney
  • New to Real Estate
  • Long Island
Posted

Hey guys! I closed on my first investment property last month and then my first primary residence 2 days after, big week haha. With those 2 properties, I had quite a good amount of credit checks. I now have the itch for real estate investing and want to jump into the next deal. My question is, should I be concerned about getting hit with a  credit check every single time? Won't this hurt my credit score if it gets to a high number? How do most investors avoid this dilemma. Let me know! Thanks 

  • Michael Mackney
  • Most Popular Reply

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    Adam Martin
    • Rental Property Investor
    1,536
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    Adam Martin
    • Rental Property Investor
    Replied

    It’s a hit but not a big one and just part of the business.  If you were just on the line of being accepted you may need to be more careful.  The bigger thing is avoiding other checks like store cards and be careful if you feel the need to test drive a car that they don’t run it.  I believe they only affect your score a year and are aggregated together if they are close together so that helps if you are shopping or something n your case buying 2 at once.

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