Updated almost 5 years ago on . Most recent reply
Owner Occupied Investing
What are the complications and consequences of not living in an owner occupied multifamily property for 1 year but telling the bank that you will be living there for 1 year? Ive been told by multiple people that its not a big deal and that i can get away with it. Has anyone done this or would you recommend doing this to maximize cash flow on your first investment? Please advise! Thanks!
Most Popular Reply
Worst case scenario is you are put on criminal trial for mortgage fraud. Probably pretty unlikely, but you never know when they will try to make an example of someone.