Are you happy with Bridge Turnkey?

Question

I’d love to hear from actual clients of Bridge Turnkey in KC. This isn’t a post to bash, just a genuine curiosity.

I’m on their purchase disto list; everything looks to be priced very top of market. I see a lot of 3/1 900sq for $110-125k.

Before I get told “turnkey is priced at a premium” I understand that - I’m curious to hear from clients if 1/would the buy again 2/why/why not 3/are they getting the service they expected 4/anything you wish you knew beforehand? Thank you in advance!

Nic S. · Answer

@Bryan Field it’s super annoying Bridge doesn’t factor in those important factors, it’s not like they don’t know better.

Bryan Field · Answer

Hello @Chris Wilkening - i am curious to see how your property has been performing? Im looking at some options with bridge now and noticed their pro forma doesnt include insurance assumptions and the property tax assumption is way below my calculations within my own numbers. Are you seeing the type of cash flow you hoped for? a few of my numbers are coming in around 150/month after all expenses and reserves. Any insight helps!

Chris Wilkening · Answer

I upped the expenses to 20% to account for insurance. The property tax was accurate for my property, but worth double checking. I also lower the rent they have by $50 to account for their lower end of their projected rent.

so far so good. Will use them again.

Chris Wilkening · Answer

Late last year in Raytown, it’s my first. The tenants just moved in this week so we’ll have to wait and see on that too. I was pleased that they got a 15 month lease though.

Based on some quick social media snooping they seem like normal people. I can follow up in 15 months? Haha.

Nic S. · Answer

I'm finding it common that midwest properties have 15-18-24 months agreements. Because the winters are so bad they structure lease agreements to end in Spring/summer which is a brilliant  strategy imo.

Nic S. · Answer

@Chris Wilkening thanks for your comment. Are you happy with the tenant they placed? I have a PM of my own and they charge 75% gross rent placement fee. They’re also happy to take over tenants. How long have you owned your property? Did you buy in KC or a suburb like Raytown? I have 1 property in Raytown and 1 in Ruskin Heights.

Chris Wilkening · Answer

1. Yes I would buy again if the numbers still worked for me.2. The process was very easy. My only criticism as that they are very busy and I had to follow up on my own a couple times.3. Their service is more of a flipper/broker since they don't do PM in house, so in that regard yes the service is great. All of my questions were answered during the buying process and I always felt like they were honest.

My property is in an area with mixed prices, some much lower and some much higher than what I bought. It appraised over the contract price and the Zestimate (which was about $15,000 cheaper) had no idea that it was just renovated. It's possible I overpaid, but it will cashflow after expenses.My main concern is seeing how Voepel PM turns out. So far so good, but the buyer isn't obligated to use them.Yeah, the pricing is near the top of the market. I got comfort in looking at comparable properties and the majority were not very nice.

Are you happy with Bridge Turnkey?

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