All Forum Posts by: George Faulkner

For SFH you will need 15% down for MFH you will need 25% down with non-owner occupied conventional loans. I have a few MFH in Kentucky and if you need any advice on some local lenders I know a couple really good banks that have helped me out over the years.

Thank you all for the great advice. I am planning on buy and hold. I went ahead and called to get the home equity line of credit so that way I can stay with the 30yr fixed loan. You all have been a great help.

@Joe Marcum on this property I am using MB financial but normally go through Central Bank for the loans on all my previous multifamily properties and I did a 30yr fixed on all of them.

@Shaun Weekes thank you for that information sir, that is very helpful.

Hello my name is George. I am buying a 4-plex in Frankfort Ky. I am doing a 30yr fixed convictional loan and am scheduled to close in less then 2 weeks. Today the Leander told me that I need  to show more reserves for my other properties $25k more. My 2 options are get an equity line of credit on my primary residence which will let the convictional loan go through or switch to a commercial loan which will be on a 5yr arm and 20yr amortization. The down payment and interest rate will be the same no mater which loan I get. Any advise will be greatly appreciated.

Welcome to bigger pockets. I'm also an investor in the Lexington area, it is a great market to get into.

Welcome to biggerpockets.

Welcome to BiggerPockets you will find plenty of helpful information on here.

Thank you all for the warm welcomes. I hope to get to know each of you.

Hello everyone my name is George and I am from Nicholasville, Kentucky. I have been in real estate part time going on 13 years now. At the current moment I have 3 duplexes and 1 SFH. I am hoping to get to meet some like minded people that I can talk to and make long term friendships with. Found bigger pockets from reading The Book On Managing Rental Properties by Brandon Turner which then got me hooked on the podcast and then started watching the webinars. I enjoy and am interested in all aspects of real estate. Also I manage an automotive detail shop, I have been married for 10 years now and my wife and I love animals we have a total of 22 animals.