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Updated about 8 years ago,
Credit Score Impact of Making Multiple Offers and Does it Matter?
I've been listening to a lot of BP podcasts and attended a webinar. A piece of the "process" is analyzing properties and putting down offers on multiple potential deals, constantly, until an offer is accepted. Hypothetically, let's say you have secured a few properties, you're in your second year of real estate investing, and you are still going through traditional financing and using conventional loans.. Does this mean that you would have to become pre-approved and/or enter into contract on properties every 60 days since pre-approvals only last something like 90 days? Your credit score will take a beating if you are putting offers down throughout the year, won't it? Do hard money lenders check credit? Do you, should you, prevent your credit score from tanking?