We're offering $500 off the first month and, in some cases against my better judgement, allowing tenants to pay security deposit over the first 3-4 months.It's a pickle for tenants because it takes 30-45 days to get their previous deposit back, if they do.

Did you deposit the reserve money with someone else??

Well i ended up purchasing an RV and renting that out for 600$ a month + a sec deposit.

Well i ended up purchasing an RV and renting that out for 600$ a month + a sec deposit. 

The end result is a guaranteed monthly deposit and longer average tenant stays.6.⁠ ⁠

- Appraisal gaps- Increase contract deposit amountIn other markets; people shorten inspection/due diligence periods, pay seller's closing costs (i.e. transfer taxes), offer to pay a higher EMD.That said, the best 'tactic' is knowing your #s, knowing how to underwrite the deal, AND knowing how to establish a relationship with the other party (i.e. seller, seller's broker, wholesaler, etc.). 

We gave him 56k in deposits and he will not even pick up his phone or engage in a conversation.

Not sure if this belongs here or in Legal, but anyway....I mailed out a returned security deposit (via certified mail), but the former tenant never picked it up/signed for it so it was returned to me. 

They purchased using a program that finances 100% of your purchase/rehab on paper, and takes a 15% deposit as cash-collateral that they hold until you refinance.• $60k purchase• $35k rehab• $95k total rehab loan payoff• 15% deposit = $14,250 "down payment"• $126k ARV (confirmed via refinance appraisal, borrower expected this to be higher)• 80% rate/term refinance ($100,800 loan) @ 6.75% [700-719 FICO]• Applied $4k of deposit to payoff for an updated payoff amount of $91k• Cover closing costs with 80% r/t refi + $2k back to borrower at closing (still considered a r/t refi if under $2k) + remaining $10,250 deposit reimbursed after payoff = $12,250 total back to borrower• $4k of his deposit + closing costs for rehab loan = his "cash" in the deal• $1,250 market rents• Total PITI = $765.62• DSCR = 1.6327 I do not see the hold costs.  

This includes offering incentives, lowering the rate and offering flexible security deposit alternatives.