How To Find & Structure Owner Financing Deals

[Paris Johns]

I’m new to real estate investing and I’m looking to buy my first rental property using owner financing so I have to come out of pocket with little to no money.

What are some good ways to find these types of deals?

What type of seller(s) are ideal for this type of creative real estate investing strategy?

Also, my grandmother owns a condo in Cleveland, Ohio that she doesn’t use and I would like to pitch owner financing to her.

Here are some terms I had in mind. Please feel free to leave feedback and share your experience using this creative strategy.

Purchase Price: $45,000

Term: 120 Months

Balloon Payment: at The end of 120 months

Interest: 4.8%

Down Payment: Will pay for repairs in the form of a down payment. Repairs are estimated to be anywhere from $19K to $28K

I plan to use a private lender/rehab loan to fund the repairs.

Any advice will be helpful. Thank you in advance!