Hard money

[Nestor Soto]

Hello. I'm Nestor from MD. I recently got pre-approved for a mortgage by a hard cash lending bank and even with an excellent credit, since it's my first flipping deal, I only got 50k pre-approved. Anybody has any advice for financing my first deal? I don't want to keep trying new banks because that will damage my credit score with all the hard inquiries. Thanks in advance.

[Chris Mason]

@Mindy Jensen and @Nestor Soto,

Source: MyFico.com.
In general, the concern about credit inquiries is overblown. Good finances create good credit, good credit does not create good finances. 

A credit inquiry for a legitimate purpose is perfectly acceptable. 

In almost all cases, a normal human with a family and friends and relationships should have bigger things to worry about than the number of credit inquiries. 

The most hilarious thing, to me at least, is when someone is super scared about a credit inquiry, and then the credit report shows that they financed the purchase of a depreciating asset (car loan typically, which is no different from borrowing money to purchase stock in a company that's about to declare bankruptcy). See above about good finances. Financing depreciating assets is not an example of good finances, unless you're a real estate agent or wholesaler for whom that nice car impacts your income.