@Jay Hinrichs I don’t think it’s fair that you’re accusing Sarah of having a personal vendetta against ABC. Just b/c she was willing to publicly share her personal experience doesn’t mean she’s out to get ABC. It’s about sharing information to help other investors make informed decisions, that’s what BP is here for, right? And Sarah’s experience isn’t just a one off “mistake” that you’re making it out to be. There are many, many other angry and frustrated ABC customers, myself being one of them. There’s another thread if you’re interested in reading up on it.
That’s great for you that your investments with ABC have worked out, but just because you’ve invested a large amount with them and haven’t experienced the same issues others have, it doesn't mean those issues aren't true. Maybe you go the special treatment b/c you have a large amount invested with them, who knows?
Also, you and @Lior Reich seem to only be focusing on the PM part, and defending ABC on how PM is difficult in these types of neighborhoods. If you paid attention to all of Sarah’s review, and read the other thread, you’d know that PM is only a small part of how ABC is falling short. From what I understand, ABC does the tenant placement themselves but partners with third party PM firms to do the PM once the properties are actually tenanted, so the PM isn’t even the main point of frustration here, it’s the rehab and tenant placement process, along with their lack of communication with the customer.
If you read the other thread, I posted about my experience with ABC as well. It’s been over a year, and my property still isn’t complete! How is that in any turnkey model acceptable? Yes, construction projects have delays, but over a year for a rental property is just ridiculous, especially when the contract clearly states 90 days for rehab. And beyond that, there’s zero communication. Every time we contact ABC for an update, we get the runaround. The property’s been “close” to completion for the past year. This comes down to how a business is operated. Maintaining clear lines of communication and setting customer expectations is a fundamental part of any business. If lying and making up stuff is a routine part of how ABC operates, then that seriously calls into question the integrity of the business itself. And I’m not alone in this. I’ve also had many other frustrated ABC customers reach out with similar experiences.
The experience wouldn’t be nearly as frustrating if ABC were upfront with everything, versus misleading us. Again, if you read the other thread, you’ll get a much better idea of the frustrations ABC’s customers have experienced.
Maybe at some point in the past ABC did operate differently and were able to deliver satisfactory products and services to their customers in a timely manner. But that’s definitely not the case now. Maybe ABC grew too fast and didn’t have the proper systems in place to scale up, so now they’re just playing catch up. I don’t know, but I do know that how they’re running their business now is definitely NOT acceptable.
