Houston, TX - Owner Financing - Subject To

[Danny Moreno]

I am looking to acquire my first property as a homestead for the short-term (2-3 years), then move out and turn it into a long-term rental. I was laid off last year due to COVID-19 and decided to turn to self-employment. As traditional lending is not an option right now (need a couple years to show self-employment income) what would you suggest should be my focus to acquire my home? I am targeting the Humble area (northeast of Houston), have cash reserves and good credit. My inclination is to find a home where I could do owner financing/subject-to in order to keep the current mortgage in place, then take out a mortgage in my name in a couple years after I have reported income. Thoughts/suggestions on who to work with and how to get started? Is there another option I haven't explored?