Investor · Brielle, NJ · Member since 2015 · 121 posts · 21 votes
I live in NJ and looking to start out of state REI and trying to research turnkey providers in Indianapolis. A business associate was referred to PARC through J Hartmans group and I was wondering if anyone had experience with them?
Real Estate Investor · Fishers , IN · Member since 2008 · 4 posts · 5 votes
10y
Greetings all,
I'm Todd Roberts, Owner and Manging Member of PARC Property Group and PARC Property Management. We appreciate the positive comments. Our team works very hard to provide top quality investment opportunities and property management services in and around Indianapolis, so it's fulfilling to get this type of feedback. As David pointed out above, we try to go "over and above'"expectations when possible and to always provide open and honest communications. If anyone would like to ask questions about investing in the Indianapolis area with PARC, please feel free to reach out to me or Brian Campbell and we will try to accommodate. Or better yet, come see us and let us show you what we do! Many thanks.
New to Real Estate · the US of A · Member since 2017 · 107 posts · 14 votes
9y
Well. I was all set to go 8/12. But my flight was cancelled and I was unable to find an alternate flight that morning. We had planned to visit properties in various stages of rehab. As of now, I'm unsure if I'll be flying out at all. I may just scoop something up based on my conversation and communication with Brian.
New to Real Estate · the US of A · Member since 2017 · 107 posts · 14 votes
8y
Okay. Closed on property #1 in October (Milwaukee). And and in talks with PARC for #2. Looking for another SFR in the Indianapolis Area.
If there are any native Indianapolites(?). I’d love to get opinions on Marion County in terms of home and rental values!
Hey Ken, Pat, John, David, Ryan, Ken, Christian, Phil -
Can you provide a quick update on your experience with PARC? I'm considering investing with them and would love to hear more about your experiences so far! Especially interested in capex, tenant quality and turnover costs!
Thanks so much, it's great to have such a strong community to learn from!
Investor · Indianapolis, IN · Member since 2014 · 61 posts · 28 votes
8y
Sean McCluskey
I’ve had a great experience overall, ~25% COC, $618.10 in maintenance, no turnover, in the final stages of closing on the next one in the next few weeks...
That's great, thanks Phil! 25% COC is really nice - that's in about 1.5 years, right? I'd assume some of that is appreciation?
How fast do you need to move in order to close a deal from them, when they email them out? Do you feel like you have enough time to conduct some due diligence on the location?
That's great, thanks Phil! 25% COC is really nice - that's in about 1.5 years, right? I'd assume some of that is appreciation?
How fast do you need to move in order to close a deal from them, when they email them out? Do you feel like you have enough time to conduct some due diligence on the location?
For that property I closed November of 2016 and I'm not including any appreciation... I didn't expect much after one year. As far a due diligence, I have an advantage since I live here and can drive each property, do my normal online DD for flood zones and general crime/schools and can make a decision within a few hours.
Investor · San Francisco, CA · Member since 2016 · 16 posts · 23 votes
8y
Hi Sean - I've had a several properties with PARC for well over a year now. My experiences have been excellent and I've had a couple natural events that they handled very well (a of mine tree fell into a neighbors house, and a car slid off the road and hit one of my houses). Their office staff is great. I've had zero tenant issues and no turn over thus far. I have a dozen houses with them and my blended CoC return is around 17%. My recommendation would be to not focus so much on attaining the highest CoC return, but finding a great property management company and stick to assets above 70k (at least in Indianapolis). I had four properties with MI/OceanPointe Investments that are now under PARC management. They took major cleaning up, but I'm very relieved now. It's been a night and day difference in PM companies. Let me know if you have any more specific questions and I'd be happy to answer. Thanks -
A few months ago I flew out to meet the PARC guys, see the properties they had available, see the areas they were investing in, see their rehab quality/standards (before rehab, with walls open, and completed rehabs).
So far all has been as promised/expected. What appears to be a quality tenant was obtained in the time frame promised and at the rent price predicted.
I'll know more a year or two from now, but if you have specific questions I can answer, feel free to PM me.
Any chance you could review your experience with PARC, now that its been some time?
Petaluma, CA · Member since 2017 · 106 posts · 86 votes
8y
I have three properties that I purchased through PARC and that are currently managed by PARC. The first two properties closed right before the end of 2017. The last property closed four months ago. So relatively new, but so far I'm super happy with them. Brian is incredibly helpful and willing to address any questions I've had... I've also become very interested in learning about the process of rehab to potentially take some of this on myself and he's even helped advise me in different facets of my education. He's a great guy. One thing I can say about PARC is that, because they are turnkey AND property management, they have stringent requirements that need to be met in order for them to even consider adding a property to their portfolio of offerings to investors. There are areas in Indianapolis that they won't touch. In other words, they have standards, they don't just offer anything. I have asked them about properties in certain neighborhoods in Indianapolis and have been told that if I had that property in my portfolio, they likely wouldn't service it... and that's exactly what I wanted to hear. Their standards drive their business, and for investors, this is a REALLY good thing to hear. I plan to visit Indy by the end of this year to check in on my own properties first hand, and get more acquainted with the area along with the whole PARC team. Highly recommended!
Reston, VA · Member since 2014 · 74 posts · 24 votes
8y
@Christian Ritter Thank you for this information. I am currently reaching out to PARC and interested in potential purchases. the >70K asset advice I will try to stick to.
@Jason Howell Great to hear this. Thanks for letting us know your experience!
Thank you all for your input regarding PARC. This community is solid.
@Christian Ritter Thank you for this information. I am currently reaching out to PARC and interested in potential purchases. the >70K asset advice I will try to stick to.
@Jason Howell Great to hear this. Thanks for letting us know your experience!
Thank you all for your input regarding PARC. This community is solid.
Gilroy, CA · Member since 2016 · 41 posts · 21 votes
7y
PARC is awesome. My only complaint is that they collect one month of rent for tenant placement. Also, the turnover cost me my entire investment in the property, however, they have been collecting money from the old tenant. The turnover was really quick, but the high price of leasing me send me to another property manangment company.
Gilroy, CA · Member since 2016 · 41 posts · 21 votes
7y
Also, they charge extra to have a year-end inspection. All other property managers I have had, include this service in their property management service.
Gilroy, CA · Member since 2016 · 41 posts · 21 votes
7y
Hi David. I'm still with PARC. I meant to type "may lead me to a new property manager." The turnover was so fast and it appeared that it was very important for property management to get the unit rented asap. I have another property that hit the one year mark and I will wait to see what happens (whether the tenant stays or not, and if they leave, how much the turnover will cost).
Attorney · Los Angeles, CA · Member since 2015 · 65 posts · 51 votes
6y
Thank you to all the posters here. If anyone has an update now that is has been several years, I would love to hear. it. Indy is on the top of my list for turnkey and I am looking to buy in the next few months. Thanks!
Hi David. I'm still with PARC. I meant to type "may lead me to a new property manager." The turnover was so fast and it appeared that it was very important for property management to get the unit rented asap. I have another property that hit the one year mark and I will wait to see what happens (whether the tenant stays or not, and if they leave, how much the turnover will cost).
Hey Rebecca,
I have a house in Indy and they Manage the house next to mine. So thought make it easy on them, they could check both houses same time for any issues. I meant to get going with them before CV19, but they refused to give me the info on the property owner next door to verify references to themselves. Then I held back as I did not want a new renter in it that then would not pay anyways due to CV19 relief.
I too dislike the first month rent take, but it seems so common with all agencies, and on renewal or rent increase they take another fee that I feel would cut into any profits. In general, how do you feel about them now? Do they nickel and dime?
Shall I move forward with them, after I would ask them how they handle finding tenants that could actually pay right now.
New to Real Estate · CA · Member since 2017 · 2 posts · 0 votes
4y
Everyone still going strong? I'm thinking about reaching out to them based on all of the reviews here. Been about 2 years since the last post and the world has turned upside down since then so figured I'd check-in.