I see it and know what it is and, yes, it influences my overall impression of the applicant, but it does not drive my decision.

800 and above is in the top 10 to 15 percent of credit profiles nationwide so you should be fine.Just do more research before getting jerky with decisions such as closing accounts.Most lenders will give you the best rates of everything with that score.Is 805 the AVERAGE of Experian,Trans Union,and Equifax??

I look at benefit/cost ratio for any decision I make with money.

You have to make this decision for yourself given what you know about each deal.

Glad to hear it :) I tend to struggle with the do/buy decision sometimes!

All I'm saying, is make prudent decisions and have sufficient cash on hand for the bad times.

Oh, and then the same turkey hawkers who sold you, give excuses, and question whether you are taking responsibility for your investing decision!

You can talk to them one at a time, ask LOTS of questions, become a mini expert, and make a more informed decision.

Okay hard money pros...Scenario:-A fully licensed real estate (deeds...not money) broker in California wishes to make hard money loans at very high interest rates in trade for aggregating money sources for fix-and-flippers and providing the fund apparatus where they can pool investors' money-The broker/lender inserts a choice of law provision in the contract stating that the laws of California apply-The broker/lender loans on projects in other statesI read in other posts that people have received advice from attorneys stating that the choice of law provision somehow "imports" the rules of Cali and allows one to lend at usurious rates.

Joel,It's a tough decision.