Deed restrictions deals

[Brian Ellis]

Good evening BP

I had met with an off market seller a couple months back. During conversation he had mentioned that his motivation for his Ad was to light a fire under the towns butt, in order to get them to consider a low income housing deed restriction in exchange for cash.

After me giving him a LOI, he flaked on the deal. My guess is he did use it as a way of negotiating.

So I’m sitting here wondering if that is even possible, or whether or not it has been done by any of you in the past? 

To be honest, it seems pretty intelligent given the fact we are in a rental housing crisis where I live.