All Forum Posts by: Justin Sumulong

Hello,

  My name is Justin Sumulong and I am transitioning into a role as a full-time real estate broker.  Previously, I was a full-time engineer and part-time investor.  I was laid off from Corporate America (thank God!) and am now putting my investing on hold for a bit to focus on building my business as a broker.  If you are from the Chicagoland area and would like to be added to my database, please fill out the form at the link below:

https://goo.gl/forms/YQb5t3J4QYz4sVvh1

  Feel free to add me as a colleague here on BP as well!

Thanks in advance and I hope to someday work with you!

-Justin

Does anyone have any referrals for property managers?  The property is a 12-unit apartment building on the northside of the city in the Portage Park area.  Please feel free to PM me.

Well, there goes that! ;)

I'll look to confirm this at some point.  Thanks guys.

Hello @Nicholas Bailey,

  I think you previously posted about house-hacking in Chicago.  Sorry, I don't have any insight on owning or managing properties with coach houses but it's always been a thought of mine to house-hack as well except live in the coach house so you're technically not sharing any walls/floors/ceilings with other tenants.  I'm interested in finding a multi-family with a rundown garage that I could replace with a coach house while living in one of the units in the main building.

  Not trying to hijack your post but I'm also curious if anyone has house-hacked a multi-family where they lived in the coach house while managing the 2-4 units in the main building out front?

Does anyone have any recommendations for an online course to get one's real estate license?

Additionally, feel free to share any advice/comments on your experience getting your license?

Here follows a series of questions regarding evictions in the state of Indiana:

1. Does anyone have a reference to a property manager, attorney, legal official, etc who would be able to share more details on the eviction process in Indiana?
2. Is the process/rules for evicting a tenant the same across the state?  If not, I am looking for info on Lake County, IN.
3. Does anyone have an experience with evicting a tenant that they would like to share with me (PM me if possible).

Thanks in advance!

Let me be clear, I am not asking about bookkeeping such as maintaining cashflow, expenses, etc.

As a buy & hold investor with a couple rental properties, what forms/paperwork/etc do others hold onto in the form of HARD/PHYSICAL COPIES vs. SOFT/ELECTRONIC copes?  I am thinking of forms like:

-Purchase agreements

-Title Insurance

-Property mgmt agreements

-Closing documents

-Anything & everything else you can think of...

While I'm still early on in my journey and don't have a bunch of properties to catch up on, I want to try to get things in order and sort everything out.  For each property, I want to have a folder or binder with actual hard copies...but I need help distinguishing what is worth keeping and what isn't.

Thanks in advance for any & all advice.

Awesome!  Thanks for the info @Jeff Brower & @Brie Schmidt!

This is good to know! Gotta love BP!

@Matthew Roder, what ways do you know of to get around the stipulation of not being able to currently own a property for Home Possible?  Currently, I own two rental/investment properties.  I'm looking to move them into an entity.  Would that work to get around it?  Or if not, would having the new property purchased under only my wife's name work?  She is not included in the other two investment properties.

I completely, 100%, totally understand that ultimately, I CAN AND WILL make my own decision on the name of my entity, but I wanted to ask if anyone cared to share their thoughts, ideas or inspirations on coming up with the name(s) for their business, LLC, corporation, etc.?

Looking forward to hearing some good stuff...