Beginner to Investing and Mortgages

[Kole Kingslien]

Hello,  I am new to biggerpockets and new to investing,  and have some questions that hopefully someone can help me answer.  First, a little bit about myself.  I am 22 years old,  recently married,  and work a full time job as a beer delivery driver.  I would like to make a purchase on my first investment property before the end of the year,  I have spent a lot of time reading on biggerpockets,  and feel like I have an okay grasp on the math and idea of all of it.  We currently have $22,000 saved,  and are able to save $1700/month. I currently rent an apartment at $500/month, and have never had a mortgage.  I paid off a small car loan,  and have had a credit card for 7 months,  my wife and I both have a credit score of 700. I am interested in house flipping,  and/or rental property investing.  My biggest questions are on obtaining financing (through a bank), and the difficulty of securing a private lender,  and how to secure a private lender. I noticed upon further research, that I do not need to limit my search to one lender (from what I have read,  investors can deal with 20+ lenders before coming to an agreement with one). In light of that, I know that to get pre-approved will require my credit to be run, and as you can imagine I do not want to acquire a bunch of inquiries on my credit, which would negatively effect my credit score. I was hoping that you might be able to shed some light on how to go about how to discuss this with lenders, while bypassing a credit inquiry, until deciding on a lender. Can I get fairly accurate information from them (about how much they will approve me for,  how much they would require down,  interest ect.), without having to take credit hits? Thank you for your input.