Owner Financing & Bank Financing in one?

[Tristian Compton]

Hello!

I recently heard from a friend that he managed to buy a property with minimal upfront costs. According to him, he utilized a strategy called owner financing, where he financed a portion of the property's purchase price directly with the seller. Additionally, he obtained a loan to cover the remaining down payment amount that he paid to the owner, which facilitated the owner financing arrangement. Since I'm not well-versed in this process, I'm interested in learning more about it. Is this a commonly used strategy to acquire a property with no down payment? Thank you for your help.