How long should I wait?

[Katlin H.]

Hello all! I am closing on my second property June 8th. I closed my first May 21st using conventional financing. Now I am looking to try hard money lending or even a different lender. How long should I wait for my credit to rebound for my next deal? Or does it even matter? Thanks in advance Kate

[Larry Turowski]

@Katlin H. It is not about how long you SHOULD wait, but how long you HAVE TO wait and WHETHER you should wait.

As for the have to, since it sounds like if you got a much in the way of your own money, your lenders may determine that.  And as for whether, well, it all depends on if you know what you are doing.  You could be climbing a mountain if you are doing it right, or digging a deeper pit for yourself if you are not.  You might want to wait to see how this first one goes for awhile to determine that.