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92
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72
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Erik Orozco
  • Mcallen, TX
72
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92
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Using rent and security deposit as down payment

Erik Orozco
  • Mcallen, TX
Posted

Hi, newbie investor here looking to purchase my 1st property. I'm focusing on small multi unit properties I can "house hack" to get started. My question is if I'm purchasing said property with existing tenants can I use rent and security deposits as part of my down payment at closing? If so is this simply done by negotiating with the seller and adding it to the contract?

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