I need your help wise ones

[Hector Briz]

Hello,

This is my first post. I am a first time investor. I plan to buy a fourplex to start out.

Relevant info:

I’m a DACA recipient. My job is in Austin tx although currently residing in McAllen tx due to covid and working remotely.

Job doesn’t require us to return to Austin until at least summer 2021 due to covid. The fourplex is in McAllen area since property is cheaper than Austin. I plan to do 20-25% down.

I was fully transparent to lenders and since I know eventually I’m returning to Austin (once covid chaos subdues), the few lenders that were willing to work with my DACA status, all said only an investment loan is possible since I wouldn’t be able to house hack due to it not being my primary residency. Which is fine I just want to start RE investing however I can.

One lender in particular says that we can do a conventional loan, 25% down, and can be classified as owner occupied. Ill live in the property for a couple months(since it’s Jan and don’t have to go back to ATX until summer) than I came move out and fully rent out all 4 units.

I straight up told him idk about that. What I’ve found online all state that owner occupied has to be for at least a year.

For all the wise ones in this community, is there any truth to his statements or is he smoking crack? Or how I can protect myself legally from this? The guy says he’s been lending for 25 years I wanna assume he knows what he’s talking about.

Hopefully y’all can help me out. Please help avoid jail