Owner-occupied properties refer to houses that the original owner uses as their principal residence. This is usually an excellent way to start in the world of real estate, as it allows the agent to rent the spaces in their own house for a given amount of money.
These arrangements give a lot of freedom regarding financing and occupancy guidelines. However, some criteria must be met to be considered an owner occupant.
The first requirement is to move into the property before the first 60 days after closing the deal, and the second is to live in the property for at least 12 months.