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Updated about 3 years ago on . Most recent reply

User Stats

53
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18
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Jared Elms
  • Investor
  • Weatherford Tx
18
Votes |
53
Posts

Minimizing credit checks!

Jared Elms
  • Investor
  • Weatherford Tx
Posted

Buying multiple houses a year, How do you avoid so many credit checks?? Especially if you do it personally and with an LLC or two

Most Popular Reply

User Stats

223
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129
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Karl Denton
  • Rental Property Investor
  • Mansfield, CT
129
Votes |
223
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Karl Denton
  • Rental Property Investor
  • Mansfield, CT
Replied

Hello Jared, 
So I believe with hard money loans, the lender approves a borrower based on the value of the property being purchased and the lender may check soft credit but most times just wanna see funds of then assets they will need. They lend on the house knowing they can get there money worse case.  This route will be much less rigorous than it is with a traditional loan from a mortgage company. It is also unlikely that hard money shows up on a credit check or report but will appear in a assets search or background check. When using a hard money lender you’ll typically see them run background and asset searches rather then a hard pull of credit. This is one way, I’ll have first hand experience later this year. 

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