All Forum Posts by: Marco G.

I may be able to let you know the answer in about a month. I took out a substantial HELOC in January and there was no hit to my credit score. I am currently in escrow on something that I will use more than 90% of the HELOC limit for to close on next month. I expect there will be a dip regardless because of the mortgages so it may be hard to pinpoint the source (using HELOC for down payment/closing costs). Will let you know!

Interesting that USLI is an option to get around the 4 unit limit, since they're a Berkshire-Hathaway Co, just like GEICO (which limits to 4 units!).

Hi all -

Currently own a 1/2 duplex and in escrow on 3 duplexes, which would bring  me to 7 rental units total (all in TX).  Called GEICO to see about upping umbrella limit and adding properties and was advised they only insure up to 4 rental units.

Advice given was to put four units on the umbrella and obtain a commercial policy for the other three, but they don't write those policies. Or get an LLC. But due to financing already in place, can't do an LLC. Has anyone run into this issue before? I was going to hold the new properties (like my current one) in my name. Would creating a trust and holding them there cure this issue? Or any advice on the insurance? Go commercial route or find another insurer without this limit? Thanks in advance! Learned tons reading, glad to finally be moving on something!

Hi All - 

I'm looking at a group of duplexes in the North Dallas area, all on the same block/identical layouts and currently leased.  Any suggestions on issues to look out for?  Never purchased multi-units, or a group.

Any leads on insurance companies out there?  Or inspections? Looking at Dallas Green Works, anyone have experience with them?  I found them through Yelp.

Thanks in advance for your ideas!