All Forum Posts by: Justin Sumulong

My end goal (or dream) is to do work in syndication deals because I want to help others by offering a way for them to invest in real estate instead of using excuses like they are too busy or too scared or too whatever to get started on their own.

As of today, however, I'm relatively new to the investing space.  I have purchased two out-of-state turnkey properties.  Currently, I am saving money to purchase a small multi-family to house-hack.  Then hope to purchase a few more multi-families to manage before moving up to larger/commercial multi-families.  And ultimately grow to a syndication deal with 50+ or 100+ or larger buildings.  This is something I hope to accomplish within the next 10 years.

Today, my full-time job is as an engineer but I wouldn't say I really enjoy what I do.  I am considering starting a part-time MBA program to help me side-step into the business field which I would like to think will help me with syndication.

My question is, knowing my plans/desire for down the road, what are the opinions out there on whether or not a MBA is necessary/advantageous on my path to getting there?

Does anyone have advice on other actions or steps I can take now to help me on my journey?

Does anyone have a syndication business they would like to tell me about or hire me on part-time for free to learn more about the business (knowing I'm a newbie)?

Thanks in advance for any & all help/feedback.

In addition to being a part-time real estate investor, I am highly considering becoming a part-time real estate agent.  I got my license years ago but from my understanding, "hanging my license" with a broker would've cost me a few hundred dollars in fees/dues per month which was not worth it for me at the time and did not look further into other opportunities.

I'm looking to get my license again but am wondering if it is possible to hang my license with a broker for significantly less or no monthly dues (by working something else out).  Are there any brokers out here in Chicago that accommodate something like this for part-time agents?

Does anyone have any home inspectors in the Hammond/Merrilville area that they would recommend?

Does anyone have any PMs they would recommend in the Tuscaloosa area?  My property of interest is in the 35405 zip code.

  For the people who had or are having bad experiences with their respective TK companies, I'm wondering if you guys can share details (up to you how much) of your due diligence throughout your experience; either on here or through PM w/ me directly.  Additionally, what would you have done differently that might have made your experience better?

  With only one TK under my belt, I already feel the due diligence is the MOST important part of the process and is something I'm looking to really detail for my own future purchases.

I am a new investor with just one turnkey property under my belt.  It was long and educational process that did not turn out as well as expected.  But that speed bump did not stop me in my tracks (working on a post to summarize it).  I am still in hopes of achieving financial freedom and still believe turnkey properties are my best path to that.

Does anyone have any recommendations for a turnkey company in markets the Indianapolis and/or St. Louis markets?  I also have partial interest and will take recommendations for the Cincinnati, Columbus and Milwaukee markets but am still doing more research.

Thanks!

Thank you guys for your inputs!

Okay, I'm flipping sides and asking a question regarding my security deposit for a rental I am moving out of in Chicago.

A couple months ago, I asked our landlord if we could move out sooner than the lease end date. (long story short: lease ended in May & we have a baby due in mid-May so we wanted to move & settle before).  My landlord said yes as long as we gave them at least 30 days notice.  Sometime before the end of Feb, we told them we were moving out by the end of March.

Today, they tell us we need to be out by noon tomorrow as per the lease AND THEY ARE KEEPING OUR SECURITY DEPOSIT.  This was never mentioned prior to today and I tried to argue back saying this was not negotiated before.  They are saying it is fair since they are losing out on two months rent for us leaving early.

My question is:  Is this legal for them to keep the security deposit if they approved our early move-out (on record via email) without mention of this before?

Thanks for any & all input.

-Justin

Hi Mark,

I'm another in the same boat with you. Multifamily homes are on my radar along with turnkey properties. I tried before to set up a newbies meeting but people always cancelled. Feel free to reach out to me to connect sometime.

Hi Jason,

Wow!  Thanks for correcting that for me!  I'm not sure why I typed Birmingham (multiple times).  Tuscaloosa is what was running through my head the whole time!

Yes, I'm looking for insight on the Tuscaloosa market in Alabama.

Roll tide? :)