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All Forum Posts by: Joseph Casarez

Joseph Casarez has started 3 posts and replied 20 times.

Post: 4 Plex after purchase

Joseph CasarezPosted
  • San Antonio
  • Posts 20
  • Votes 4
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!!!

Post: 4 Plex after purchase

Joseph CasarezPosted
  • San Antonio
  • Posts 20
  • Votes 4

That’s what I’ve heard also just wasn’t to sure about it. Who did you use for the umbrella policy? 

Post: 4 Plex after purchase

Joseph CasarezPosted
  • San Antonio
  • Posts 20
  • Votes 4
Originally posted by @Shaheen Pirouz:

In my (limited) experience, with individual properties there is nothing that an LLC will provide you that a solid umbrella policy can't.

Post: 4 Plex after purchase

Joseph CasarezPosted
  • San Antonio
  • Posts 20
  • Votes 4

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 

Post: 4 Plex after purchase

Joseph CasarezPosted
  • San Antonio
  • Posts 20
  • Votes 4
Originally posted by @Jason W.:

Hi Joseph and congratulations on the 4 plex. 

I also own a 4 plex in Edinburg (seem to be an over abundant number of 4 plexes down in the Valley). I chose to keep the 4 plex in my name rather than an LLC (mostly due to the fact that I have a mortgage on the property) but I did purchase an umbrella policy. By the way if you are planning to hire a property management company checkout PMI RGV, good rates and good service.

Regards,

Jason 

This is pretty much what I'm doing.

Post: 4 Plex after purchase

Joseph CasarezPosted
  • San Antonio
  • Posts 20
  • Votes 4

So purchased a new 4 plex in the Edinburg Texas area. Rented out the 3, and currently live in one part time. Question is should I put it in an LLC and/or get an umbrella policy? and anything else yall might suggest I'm missing. Thanks in advance

Post: Edinburg/Mission Real Estate

Joseph CasarezPosted
  • San Antonio
  • Posts 20
  • Votes 4

I'm from San Antonio, but just purchased a 4 plex in late November got it leased out in about 3-4 weeks. pays for it self pretty much just off of the 3 units.

I'm going to be financing the deal. found a few ranging from 260-330K, All 4 plexus all leased out also. one generating $3450 month and the others are around 4k month. Granted i know you have to calculate expenses, maintenance etc. so that's one way i was going. 

Hello, just recently found this site and saw a few videos etc. I'm currently looking to invest in a multi-family in South Texas (RGV) area. But i'm keeping my options open also. Wanted to see if there was anyone that's has experience with this area.