BRRR Owner Occupied Duplex Austin

[Jared Crouch]

I was told I cannot use an FHA loan for an owner occupied duplex if I already own a property within 100 miles. Is this correct? If so, how else can I finance an owner occupied duplex without putting down 20%. I feel it defeats the purpose of living in the property if I have to put down 20%. Thoughts?

Thank you in advance! 

[Eric Guiltinan]

If you have a 5% conventional you are definitely eligible for an FHA loan on a duplex. I bought a duplex with 5% down in Austin and a second with an FHA loan in Austin. No problems.