I'd like to revive this thread a bit with my further experiences with ABC.
I've had two properties with ABC for a while now, one for about 9 months and another for about 13 months. No major problems to report with ABC, the properties themselves appear to be sound and generally well rehabbed. On my second deal with them, there were a few issues with the building that I insisted be addressed, and they were very accommodating and fixed the issues to MY specifications. Not theirs, not the bare minimum they could have done, but enough to put my personal sense of caution at ease. That was a big plus. One issue on the second property was problematic, and we couldn't realistically address it before closing (a small soft spot in one floor, nothing structural just a little bubble under the faux-hardwood flooring where the floor had shifted a bit over the years). Jay offered to rip up the floors and fix it right there and then, inconveniencing the tenant to make me happy, but in the end he actually wired me a sizeable chunk of cash so that I could cover the cost of replacing and repairing the floor after the tenant departed. I was hella impressed by the transparency and Jay's willingness to meet me either halfway or all the way. Huge points.
Now, negative points. There have been some growing pains in the company. My second property experienced a delay due to a backlog of rehabs that they had to complete. Thankfully I had invested with them through the Maverick Investor Group, so my terms were a little different than what I see for their regular customers and I didn't lose any money as a result. It feels like they made a huge surge last year, and they certainly listed a ton of properties with Maverick in a very short period, so it's likely they just bit off more than they could chew at the time but they should be back at full efficiency soon, if not already. Second, their property manager is a little slow on communication, and I've heard the same complaint from a couple people I've talked to about ABC. Communication and water bills are two small headaches that you're going to have to deal with, but if you can come to an understanding with Pete (ABC's PM) he's actually a very reasonable guy and you can get the little wrinkles ironed out.
In both cases, my negative experiences amounted to little more than small hassles, with very little dollar-value impact on the ownership experience, and both problems were sorted out in the end. Al in all, I've found ABC to be a trustworthy, transparent, and entirely reasonable company with whom to work and I'm looking forward to future deals with them. If you're brand new, be ready to tackle a few early challenges, but I wholeheartedly recommend ABC Capital Investments.
