Establishing a Price Zone - First Property Question

[Brandon Jurczyszyn]

Hello BP!

I am in the market for my first property, specifically a residential MFR. I have a good grasp on the process for searching and analyzing deals (I will use the BP calculators) - but, I'm having a tough time establishing what my price range should be. Should I go and get pre-approved for a loan from a bank? Heard that can negatively affect a credit score if nothing is done with it right away.

I know this will be a "depends-on-your-situation" type answer, but any advice on how you've established a price range would be great! Just looking for a point in the right direction.

Thanks,

Brandon