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Updated almost 4 years ago,

User Stats

11
Posts
2
Votes
Allie Foland
  • Realtor
  • Rochester, NY
2
Votes |
11
Posts

Buying my first rental can I do concessions

Allie Foland
  • Realtor
  • Rochester, NY
Posted

I’m a real estate agent and I had a client reach out wanting me to list her house. She wants $130,000, but she has a tenant in there now who’s lease isn’t up until 2022. Her tenants are reliable and pay on time, she’s selling so they can but more money towards their new build. The tenants pay 1500$ a month in rent. Great location. Updated. Would this be a good first rental to buy? I have 20k I can put down but I’d rather not put that much down, can I do concessions on the loan to put towards the closing costs?

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