Land loan - negotiating - multiple preapproval letters?

[David Judge]

Hello, I’m looking at buying improved land in a market near mine (Spokane, WA). The goal is to buy land while cheap(er) and sit on it for a year or two while I raise capital to build and hold a fourplex.

I don’t have an established relationship with any lender there and am shopping around. I’ve found 3 local credit unions and two other banks my real estate agent recommended. 

What’s the best way to negotiate a favorable rate? Should I find a broker? Should I get Preapproval for 4 or 5 and then negotiate later? Or does negotiation power diminish after you get the Preapproval? 

I’ve already got my hard credit pulled on one preapproval and figured I should get my others in now to minimally affect my credit score. 

Thanks for the tips!

David 

(Architect, owner builder, first-time investor)