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!

[Nicholas L.]

You could definitely buy something on owner finance and live in one of the units.  That's the beauty of owner finance - the terms are whatever you work out.  No bank.

However, it's going to be very tough as a new investor to find an owner finance deal.