All Forum Posts by: Justin Sumulong

Hi STR investors,

  I'm genuinely curious/interested to know if it's typical to charge your guests a cleaning fee AND also ask them to do a list of things as "checkout procedure" like stripping beds of sheets, washing dishes/starting dishwasher, taking out garbage, etc.

Thanks,

Justin

Hello,

  I am working with an agent who would then be my property manager to find a tenant for a property I own in NW Indiana.  She found potential tenants but told me she could only share their credit score with me but it is not legal to share credit reports with me.  Is this true?

  Any other details or work arounds for getting this info if it is indeed true?

  I was also considering selling the property but was told that a property cannot be for sale AND for rent at the same time in Indiana.  Is this also true?

Thanks in advance,

Justin

I also got burned by AREI on the Southlake, TX investment.  If anyone has any info I can use to do anything about it, please let me know.

At the very least, I hope this thread is enough to save others from investing with these guys

@Juan Garfias, very sorry for the late reply, I never saw your comment.  I agree with @Robert S. on the recommendation of Hawk Home Inspection.  They were the ones I used as well.

Hi Andrew,

No I was actually asking about buying the property inside of my 401k. But I've since learned that i can borrow from my solo the same way I could from an employer 401k so I'm leaning towards that now.

I am considering using the funds in my solo-401k to do a BRRRR.

First question, I guess, is what are thoughts on this? Good or bad idea?

I've ran through the process and I think the most important thing is not commingling funds throughout the process but the only issue I really have a problem with is when the time comes to refinance the loan, it will be difficult for me to get a loan out on the property for the trust/entity my solo-401k is run by. I'm guessing if I can find a bank that will, they will only do an LTV of <60%. So the question(s) is: Does anyone have banks they can recommend for refinancing out of a BRRRR when using an entity? Are there alternative methods to handle this step or ways to get around such a low LTV on a refinance? Any other suggestions/ideas are also much appreciated.

Thanks,

Justin

Hello,

  My name is Justin and I am a real estate broker in the west/northwest suburbs of Chicago.  My goal of investing in real estate got me to jump in as a broker as well.  If you are looking for a real estate agent to add to your team/network.  Please do not hesitate to reach out to me!  Good luck to everyone out there!

I'm looking for a recommendation of a self-directed IRA and/or HSA custodian to roll over 401k funds from a previous employer. I've talked to Equity Trust, Quest IRA & Midland IRA and am also looking into TDAmeritrade & Fidelity as options. My problem with Equity Trust & Quest IRA is when I Google'd them for reviews, they were horrible and I think that has turned me off from them. Midland might be the front runner at this point. Does anyone have other recommendations and/or any experience with any of these companies for setting up SDIRAs or SDHSAs? I'm looking to be a private money lender with the funds I move into these accounts.

My first conference/summit/event and it was great!  Looking forward to next year.

As a newbie, I'd say my biggest takeaway is that many, if not all, investing strategies will work but find one that really interests you and make that your only focus while you put in the time & effort to master it (before moving on to another strategy).

Great job & big thanks to @Brie Schmidt, @John Casmon & the team that put this together!

Hi Luke! 

  Congrats! It's an exciting time! I actually also just joined a brokerage as a new/first time agent.

  A lot of factors to consider but for me, the most important was the managing broker. Make sure you join a brokerage where he/she will be willing to help mentor you and do whatever it takes to make you successful.

  Message me and I can give you more details on the brokerage I chose and also two other people/brokerages you could talk to.