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?
- San Antonio
- Posts 20
- Votes 4
i purchased a 4 plex brand new in edinburg basically McAllen about 2 years ago in November. so far so good. cash flow about 1K
Post: Edinburg/Mission Real Estate
- San Antonio
- Posts 20
- Votes 4
Originally posted by @Zeriet Woldeab:
@Joseph Casarez I am thinking of purchasing there as well, how is the vacancy rate going for you?
@David Campbell Did you had success in investing there? I am also out of state and looking to invest there. What is your experience so far?
@Zeriet Woldeab: Everything so far is great! haven't had any real set backs. lets just say i wish i had 2-3 more 4 plexus
Post: Questions about a quadplex and running numbers
- San Antonio
- Posts 20
- Votes 4
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.
Post: Velocity Banking, trying to get some feedback on this
- San Antonio
- Posts 20
- Votes 4
Sooooo came across this method a few months ago. wanted to get some feed back. Also who yall use for these loc's
Post: 4 Plex after purchase
- San Antonio
- Posts 20
- Votes 4
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.
Post: 4 Plex after purchase
- San Antonio
- Posts 20
- Votes 4
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
Post: 4 Plex after purchase
- San Antonio
- Posts 20
- Votes 4
Thanks Keli, I'm going to go that route for use now. umbrella that is
Post: 4 Plex after purchase
- San Antonio
- Posts 20
- Votes 4
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.
Post: 4 Plex after purchase
- San Antonio
- Posts 20
- Votes 4
Yessir!! I’ll keep that in mind also. Thank you
Post: 4 Plex after purchase
- 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!!!