Seller Financing in a currently gentrifying midwest community

[Michael Emery]

LONG POST AHEAD:

I currently moved into a lower income community here in the midwest to be closer to the asset class I would like to invest in. I’m 26, have my real estate license, and have one rental (with my business partner/aunt) obtained from a deceased family member.

This area is centrally located within the metro area, sandwiched in between interstate and major highways, close to Downtown, and multiple entertainment areas, along with a large medical/research sector sitting adjacent. There are also a few TiF (Tax increment financing) zones across the area.

Many homes here are an investor’s dream, and I’m not the only person who has seen the value of buying property there. The main issue I’m facing here, is that the residents have been absolutely blasted with people thinking exactly like I am and are very tired. I currently have two units (one duplex, and one triplex) that I am very interested in pursuing. Both have been sitting vacant and in disrepair for years but neither seller would like to sell.

I’ve been researching seller financing strategies and I’m curious to see if anyone here has been able to create a win-win situation in a similar environment! Just trying to learn and I appreciate any wisdom you share. Thanks.

TLDR: Seller financing strategies/experiences welcomed