We discussed a deal of using their credit to secure the loan (10% down) but I would front all the money.

For example, you buy the place and the tenant could claim the Seller allowed them to paint the walls black or that their security deposit was twice what the Seller claimed.

Includes practical advice on marketing, screening, leasing, handling lease violations, termination, security deposits, and more.

@Javaras Thomas conventional financing doesn't allow the downpayment to be secured by the subject property however, if you have other properties including your own home that has equity, you take out a 2nd on that property and use it for down payment.

The only way to be able use a personal loan would be to have a secured loan so if you have a vehicle and you put it up as collateral with the bank.

It got me thinking about how tenants completely ignore their security deposit until they move out, so does it really incentivize them for anything??

At closing, I received the security deposits and pro-rated rent but was denied the non-refundable pet deposit.

Review and re-negotiate utilitiesAnalyze insurance policiesFind new tenants such as 5G Rooftop LeasingDiscuss loan payment deferral options with lendersRepurpose all or a portion of your building / propertyExtend tax returns to SeptemberAppeal increases in property taxes or negotiate lowering or deferring payments for current property taxesAssist current tenants and educate them on funding programs available to themRefinance any existing loansSearch for new income sourcesDiscuss deferral of insurance payments or partial payments with your insurance providerResearch Funding Assistance in the Chambers of Commerce guidesDefer the employer’s share of Social Security payroll taxTake advantage of higher interest deductions Utilize active lossesApply cost segregation utilizing the new CARES tax laws and amend up to 5 years of previous tax returns to potentially receive refundsI hope these tips were helpful and if you have any questions at all, feel free to reach out!

Was there a security deposit?  

Let her know at this point since the dog was already there, she had 2 options - pay a $300 security deposit and an extra $30 per month AND put the pet through our screening process OR get rid of the dog.She made a call to see if she could return the dog from wherever she got it, called me back, dog gone.