Welcome to CorePar Development
A Leader in Turnkey Real Estate
NEW CONSTRUCTION INVESTMENT PROPERTIES
At CorePar Development, we simplify the real estate investment process so you and your family can enjoy financial freedom. Leveraging our unmatched experience and expertise, we reduce the uncertainties of real estate investing, empowering you to minimize risk and maximize returns.
Our Mission:
To help our clients achieve financial freedom through real estate investing by securing the best deals nationwide and providing support every step of the way!
OUR SERVICES
CorePar Development is a full-service Real Estate Development Company based in the Indiana area. We believe that the best and most successful developments are created with masterful planning and a comprehensive approach to each new project. Specializing in new construction, CorePar offers excellent returns and first-rate services. In addition we sell investors cash flowing properties in the best markets throughout the U.S. Contact us today for a free consultation.
How We Work
What is Turnkey?
We specialize in offering turnkey rental properties in prime markets across the United States. With a turnkey investment, you can earn monthly passive income without the usual hassles of traditional rental ownership. Whether you're a novice or an experienced investor, our team of seasoned professionals is dedicated to helping you achieve your financial objectives.
How the Turnkey Rental Process Works.
At CorePar Development, we've taken care of the groundwork for you. We've extensively researched top markets across the United States, focusing on the ideal mix of cash flow, equity, and appreciation potential. Our aim is to provide you with the benefits of real estate investing without the usual headaches of property management and tenant issues. Enjoy living where you want while investing in markets that yield the best returns.
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Schedule a Free Consultation
Our team of investment experts is ready to discuss your path to financial freedom, helping you choose the right investments to achieve your goals.
2. Explore Available Turnkey Rentals
Browse CorePar Development’s current turnkey rental properties for sale, complete with pre-calculated cash flow, ROI, cash-on-cash return, and more
3. Invest in Your Future
After selecting a property that meets your investment needs, we facilitate the transaction, allowing you to confidently invest in your financial future.
4. Enjoy Hands-Off Passive Income
Investing in turnkey rentals provides you with the opportunity to retire on your terms and timeline, receiving residual income every month. We are your trusted partner on the path to financial freedom and long-term wealth through real estate investing!
Free Consultation
During our consultation process, we engage in a conversation to understand your needs and ensure it aligns with our services.
Pre-Construction
We collaborate with you to develop plans that cover measurements, materials, timeframe, budgeting, permits, and licensing.
Construction
We maintain ongoing communication with you during construction, ensuring that your project remains on schedule.
Post-Construction
After receiving compliance certifications from building inspectors, we ensure your full satisfaction with our quality work.
Active Ready To Build Properties
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Sold Properties
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The “IDEAL” Benefits of Turnkey Rentals
Income
Generate Predictable, Passive Monthly Income
Depreciation
Maximize Depreciation & Tax Benefits
Equity and Growth
Get Tenants To Pay The Loans For You
Appreciation
Grow The Value Of Your Assets Over Time
Leverage
Leverage the Bank's Money to buy more real estate with less of your own capital.
What is the typical price of the property?
$115,000-$135,000 on average for our duplex investments. We do have properties outside of those ranges, but not too far below the $115K range because we want to stay in better neighborhood classes.
How much money do I need to get started? What are the costs involved and closing cost?
There are transaction-associated costs with any real estate purchase, including fees from the lender, title company, and appraiser. However, there are no additional costs for investing with us beyond what is standard for any home purchase.
If you are using conventional financing, a 20% down payment of the purchase price is required. Additionally, there are standard closing costs, which typically amount to around $3,000 per transaction. These costs can vary based on the property, lender, and state. Generally, the breakdown is about $1,000 for lender fees, $1,500 for title fees, and $500 for appraisal.
A common point of confusion involves pre-paid taxes and insurance due upfront at closing. An additional amount, possibly up to $2,000, might be needed at closing, but these are not closing costs; they are prepaids that are accounted for on our pro forma monthly basis. If you’ve purchased a home before, you may be familiar with this process. If you opt for the lender to handle your annual tax and insurance payments (which is optional), they will collect a year's worth of taxes and insurance upfront to fund your escrow account. This ensures the lender has the necessary funds when tax and insurance payments are due the following year. A portion of your monthly mortgage payments will then be allocated for future tax and insurance payments. This combined payment is referred to as your PITI payment (principal, interest, tax, and insurance). When you sell the home, you will receive a refund for any money remaining in the escrow account.
In summary, in addition to the 20% down payment, you might need an additional $4,000 to $5,000 at closing. However, not all of this amount constitutes true closing costs, and not all of it is mandatory. Most people opt to have the lender manage their taxes and insurance through escrow, as it offers the convenience of not having to handle these payments independently each year.
How much cash flow can I expect and what is the average ROI(Return On Investment)?
Let’s go through a simple example. Imagine purchasing a $100,000 property in the Midwest, where you put down 20% ($20,000). You can expect a net cash flow of approximately $3,000 to $4,000 annually after all expenses and debt service are accounted for. This equates to a 15-20% cash-on-cash return. This calculation does not include additional benefits such as property appreciation, debt reduction as tenants pay down the mortgage, tax benefits, and depreciation. When you factor in these elements, your return on investment (ROI) increases significantly over time for every property you acquire and each year you own the home.
What are the potential risk of investing in real estate and turnkey properties?
There’s no such thing as a risk-free investment. Every investment comes with its own upsides and potential downsides. People often ask, "This sounds too good to be true," or "What's the catch?" In reality, there isn't a catch, but it's crucial to be aware of the risks associated with real estate. Understanding our business model can help mitigate these concerns. Our turnkey model specifically addresses many of these risks through a systematic approach to investing in these areas. We control many variables, but the biggest variable is always the tenant. If you own enough properties over time, you will inevitably encounter a difficult tenant or a property that doesn't perform as expected. This is why having a diversified portfolio with multiple streams of income is essential. It helps balance out any underperforming properties.
In our opinion, the highest risk for an investor is owning only one rental property. If that property becomes vacant, you lose 100% of your rental income while still having to pay the mortgage and expenses. Conversely, with four or five properties, you would likely still have positive cash flow even if one property is vacant. It's also essential to plan for unforeseen expenses and maintain appropriate reserves. Most lenders require six months of reserves for mortgage payments per property, which is around $3,000 per property—a good starting point for initial reserves.
The turnkey approach reduces the risks associated with venturing into an unfamiliar market and investing in properties on your own. Attempting to acquire a property in an unknown market without a local team can introduce a host of additional risks. Our turnkey model offers a more secure pathway by leveraging our established systems and local expertise.
What is the climate of the current real estate market?
This brings up the common question, "Should I wait to time the market?" Over time, we've interacted with many highly successful investors with significant net worth. None of them attribute their success to luck or perfectly timing the market. Instead, they adhere to the fundamentals of real estate investing, regardless of market conditions, and let real estate naturally appreciate and pay down debt over time.
If someone waits a year to see how the market plays out or to try and time it, they lose that year’s worth of cash flow, tax benefits, depreciation, and equity buildup as the tenant pays down the principal. Most importantly, they miss out on a year of valuable education. That's why we always encourage immediate action. The most crucial step is simply getting started with your first property rather than attempting to time the market. It’s similar to dollar-cost averaging, but with specific criteria for investment. Starting sooner allows for scaling up sooner, ultimately leading to greater success than waiting for the "perfect" time to invest—a mindset we don't endorse for long-term real estate investment fundamentals.
It's also worth noting that we currently have historically low-interest rates, making now a strategic time to take on debt for investment purchases at a very low cost. Additionally, leveraging equity in a property through a HELOC or cash-out refinance to buy more rental properties can be a smart move. Now is an opportune time to act and build your real estate portfolio.
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