Getting pre approved for a loan

[Thomas Hartman]

Hello everyone! 

Quick question here about pre approvals. Me and my wife are in the process of getting our papers together for pre approval. My concerns are as follows: 

How badly does getting pre approval affect my credit score? 

If I’m potentially looking to invest in a few different areas of the country, do I need to pursue pre approval separately in each market? And I’m assuming if one credit check in one area affects my credit score, a few checks in other markets will affect it even more? 

We are only about a month into educating ourselves with real estate investing and still on the fence about whether or not to invest locally in NYC where we live, or remotely in more affordable areas, or perhaps even both of our pre approvals allow for it. We are a bit all over the place at the moment trying to weigh options but I figured it wouldn’t hurt to continue to ask questions here because you are all extremely helpful and generous with your wisdom. We truly appreciate it, and love that this resource exists for people like us! 

Thanks and have a wonderful night!

Tommy