Living in Owner Financed Rental Property

[Fatima Bassett]

Hello!

My name is Fatima Bassett and I am trying to jump into real estate within the next year and I just discovered the owner financing option. However, I not only would like a multi home property but also a multi home property that can be my primary living residence.

My question is are you able to live in one of the units when using the owner finance strategy or would I have to go the FHA loan route?

Any advice would be greatly appreciated. Thanks!

[Paul De Luca]

Quote from @Fatima Bassett:

Hello!

My name is Fatima Bassett and I am trying to jump into real estate within the next year and I just discovered the owner financing option. However, I not only would like a multi home property but also a multi home property that can be my primary living residence.

My question is are you able to live in one of the units when using the owner finance strategy or would I have to go the FHA loan route?

Any advice would be greatly appreciated. Thanks!

Yes if you have an owner financed multi-unit property and one of the units is vacant you could occupy that unit. You can also owner occupy using an FHA loan to purchase.