Vermilion Advantage Article
Changing Vermilion County Neighborhoods One Property at A Time
APRIL 2015 / V E R M I L I O N A D V A N T A G E
Written by Linda Bolton
Carlos Garcia and his wife Jennifer have their eyes on the future. Owners of JAC Property Development, they are still relatively new to the Vermilion County community. But they are not new to success in the real estate investment business and when it is done correctly improving neighborhoods and communities.
Carlos and his partner and wife Jennifer bought their first piece of real estate in 1985. He was 21 years old and both of them knew right then that real estate investment was their future. Theirs is a well-balanced relationship. Carlos understands people and sales and visioning. Jennifer is the CFO, with a strong background in accounting, finance and strategic planning. She has owned her own successful company, Premier Accounting and Financial (PAF) since 2008.
Based out of San Diego, the pair, along with their investors, holds investment properties in Arizona and Nevada, as well as Illinois.
“We like states that have landlord-friendly laws where we can surround our business with good partners,” Carlos says. However, just because they operate in states that are friendly to landlords does not mean they do not take care of their properties. “We are opening our new offices at 913 North Vermilion here in Danville so we can ensure that every property we own is brought up to standards and maintained,” he says.
Carlos says his various LLC’s allow him to invest in property for their income, to plan for their retirement, and to invest for re-sale.
“We are very careful not to mingle our investments; each has a specific purpose and we hold to that,” Carlos says. They purchased their first Danville properties in 2010. “In looking for opportunities across the country, we realized real estate is very affordable here, but there are a lot of properties that need significant re-habilitation, so we take those projects on carefully, ensuring we do good work correctly,” Carlos says. “Our goal is simple; we want to purchase distressed properties and make them good places for people to do business and to live and raise their families,” he says.
JAC Property Management now owns property in Vermilion County from Hoopeston to Olivet.
“Besides turning the properties around and doing the rehabilitation on them, we want to also help tenants learn how to be better tenants, so they pay on time, help maintain the property, and eventually, we hope they get to the point they want to purchase the homes; turning renters into owners is the ultimate goal,” Carlos says. He is currently renovating the property at 913 North Vermilion, which will be the base for their operations locally as well as their home when they are in the community attending to business. “I am in town a lot now, so I have been spending a small fortune on hotels; it will be great to have our own place where Jennifer and I can stay when we are in town,” he says.