All Forum Posts by: Joseph Casarez

so i just purchased one about a year ago in the valley area. i pretty much hit up all the sites compared rent amounts, deposits, and comps as far as year of the building compared to older ones etc. if they are leased out ask for the lease agreements and rent rolls. figure out when/if the rents have been increased over the years if there are tenants. If you can drive around the area and see if there is anything else for rent and call, see what they are charging.

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Sooooo came across this method a few months ago. wanted to get some feed back. Also who yall use for these loc's

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Originally posted by @Jason W.:

Originally posted by @Joseph Casarez:

Thank you! This is my first investment/purchase. Yes they have amor going up where I bought mine also. I also have a mortgage. Who did you get your umbrella with? I was going to use a management company but opted not to just because it’s new and everything’s under warranty so I don’t mind makes calls every now and then. Plus 10-12% I feel is high. They charge less in the touristy Rivera maya at 5% lol but I’ll keep them in mind if anything changes.

Thanks for the reply

I have my Umbrella policy through USAA. Also on the rate, PMI RGV was charging 7% when I signed up but if everything is brand new and under warranty you can probably self manage for a few years.

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Sweet!! I have usaa also. I'll give them a call and compare them. yea that's what I'm doing as of now, managing it myself. so far so good

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Thanks Keli, I'm going to go that route for use now. umbrella that is

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Originally posted by @Keli Coleman:

I am definitely not a lawyer, but the purpose of an LLC is to limit your exposure for liability. With that being said i was also told that if you are a SOLE member of the LLC then it is really easy for a lawyer to pierce the veil.

I would purchase a 1 million dollar umbrella policy and keep the property well taken care of. When we spoke to a lawyer his words were we rarely sue for more than a policy will cover and only in extreme neglect cases will we go past the policy for more. Take that advice how you wish.

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Yessir!! I’ll keep that in mind also. Thank you

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Originally posted by @Shawn Ackerman:

@Joseph Casarez I'd say keep it simple and go umbrella if you intend to put conventional debt on it now or in the future. If it was a cash deal then go LLC but I don't suggest having 100% equity available in the property. You may want to do a note with a secondary LLC to limit exposure. All the best. Always remember to persist and you will WIN!!!

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All Forum Posts by: Joseph Casarez

Joseph Casarez has started 3 posts and replied 20 times.

Post: Why Do You Invest in Texas? Specifically in McAllen or Houston?

Post: Edinburg/Mission Real Estate

Post: Questions about a quadplex and running numbers

Post: Velocity Banking, trying to get some feedback on this

Post: 4 Plex after purchase

Post: 4 Plex after purchase

Post: 4 Plex after purchase

Post: 4 Plex after purchase

Post: 4 Plex after purchase

Post: 4 Plex after purchase