WS1319: DSTs and 1031 Exchanges | Sunil Chillar

Sunil Chillar is the owner and broker of EXIT Realty Urban Living located in Downtown Jersey City. He used to work in one of the largest wealth management companies in his early 20’s but he realized he didn’t want to work there all his life. He attended a seminar that changed his mindset, and then he decided to leave his job the following week. Then he discovered the field of real estate investing. He has worked with property investors, managed properties, and overseen construction crews and renovation projects. 

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Sunil will talk about what changed his mindset from just living within his means to having purchasing power, pivoting from single-family to multifamily syndications, time management, getting out of your comfort zone, and deciding whether to use a DST or 1031 Exchange.

Key Points From This Episode:   

  • Sunil worked in one of the largest wealth management companies in his early 20s. 
  • He had 67 people working for him, but he realized he didn’t want to spend the rest of his life there. 
  • Growing up, Sunil’s mindset was not to spend beyond his means.
  • Anthony Robbins’ event changed his mindset to, “What do I need to do to get that money to make that purchase.”
  • What made him pivot from single-family to multifamily syndications?
  • Having a demographer on his team has helped him successfully enter unique markets and even those very far from his residence.
  • Sunil talks about time management.
  • He believes that outside your comfort zone is where you’ll grow. So how does he push himself outside of his comfort zone?
  • When is the best time to use a DST or a1031 Exchange?
  • What’s the downside of DSTs?
  • What excites him about the next six to 12 months in the real estate market?

Tweet This!

“In this business, there are so many financial land mines that you step on one and you’re going down, so why not learn from others who are willing to teach you and willing to be on your team as well?” [00:04:46]

“For me, I tell everyone in my office, ‘It doesn’t matter what the other guy is doing. Focus on what you need to get done and just get it done. No excuses.” [00:15:00]

It’s always the right time to buy.” [00:17:00]

Links Mentioned in Today’s Episode:

Sunil Chillar on LinkedIn

Exit Realty Urban Living website

About Sunil Chillar

Sunil Chillar is the owner and broker of EXIT Realty Urban Living located in Downtown Jersey City. After receiving his bachelor’s degree in finance and economics from what is now known as New Jersey City University, he worked his way up to the Assistant Vice President position of a large American stock brokerage and asset management firm. Feeling unfulfilled in his career, Sunil decided to delve into the field of real estate. Since becoming a licensed agent in 2002, he has worked with property investors assisting them in purchases of over 5,500 units throughout the United States, he has managed over 100 units as a property manager, and has gained over 18 years of experience overseeing construction crews and renovation projects for his clients.

Sunil specializes in short-sales, bankruptcy, and foreclosures, and has extensive experience handling multi-dwelling properties. His role in the office includes recruiting and training its agents, as well as overseeing the office’s operation.

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