Current or Past Customer of Bridge Turnkey in KC? Feedback?

Aurora, OR · Member since 2017 · 44 posts · 58 votes

Hello all,

I was hoping to connect with a few of you who have purchased turnkey rentals from Nathan's team at Bridge Turnkey in Kansas City. I have done my best to research the market, visited KC and met the Bridge team, and have seen their properties mid-rehab and post-rehab.

Looking for some "third party" feedback on how your experience was during purchase and their management style/ tenant retention.

Thanks in advance,

Andrew

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Nathan Brooks

Real Estate Investor · Kansas City, MO · Member since 2012 · 397 posts · 187 votes

@Tyler Barker @Andrew Korver I appreciate the honest dialogue and conversation. We definitely don't always get things right the first time (believe me, I wish we did!) But we always tell our clients, we always make things right.

@Brock Thomas appreciate you sir!

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Kim Tucker
Flipper/Rehabber · Kansas City, MO · Member since 2011 · 2k+ posts · 712 votes
8y
They are a business member (advertising member) of our organization here in KC at MAREI, not many of the turnkey providers are. And while I don't have first-hand experience with him, usually when we see someone doing a bad job or screwing people, as the leader of the organization, I get calls and complaints. And to date after about 2 years I think of them being members, I have yet to hear or read anything bad.

Hope that helps.
0 Reply
Kim Tucker
Flipper/Rehabber · Kansas City, MO · Member since 2011 · 2k+ posts · 712 votes
8y
Note that there are bad guys out there everywhere, but the really bad guys that we heard about back in the day, well they have all packed up and gone home, for the most part, sites like this exposed the scammers and scammer wannabes ... but still, DO YOUR DUE DILIGENCE.
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Andrew Korver
OP
Aurora, OR · Member since 2017 · 44 posts · 58 votes
8y
Thanks Kim! Having met the local team in KC, I have been impressed thus far with their transparency and professionalism. I am just hoping for some discussion with folks that have purchased buy and hold property through Bridge.
0 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
8y
I have done a few deals with Nathan over the years.. he was truthful in his transactions so I am happy for him that he has grown in his company like this.
turn key reviews has also outed a bunch of these guys that were bad players @Kim Tucker and KC had a bunch of them.. just like all these markets.. most of the not ready for prime time guys went the way of the dodo bird during the crash and could not restart.. and or too many complaints or ended up in Orange is the new black like a Marquis et al. that's Chad Duecher.
Podcast Guest on Show #222
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1 Reply
Andrew Korver
OP
Aurora, OR · Member since 2017 · 44 posts · 58 votes
8y
Thanks Jay, a nod from you goes a long ways. I have enjoyed Brianna’s turnkey podcast as well and have been utilizing the turnkey-reviews site. Very helpful!
2 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
8y
well enjoy this great fall weather whilst it last !!!
Podcast Guest on Show #222
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Thanh Nguyen
Rental Property Investor · Dallas, TX · Member since 2017 · 13 posts · 2 votes
8y
@Andrew Korver Hi Andrew, I am also really interested in Kansas City and I have been researching to find a reputable and reliable turnkey property there. Have you finally bought a property from them?
0 Reply
Andrew Korver
OP
Aurora, OR · Member since 2017 · 44 posts · 58 votes
8y
@Thanh Nguyen We just went under contract yesterday as a matter of fact. Rehab to finish and deal to close early February. I would be happy to share my experience along the way and my thoughts on flying to KC in July if you are interested.
1 Reply
Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
8y
I consider them to be a competitor and have never heard anything negative. I normally hear about the ones that aren't doing a good job.
4 Reply
Sal Souza
Atwater, CA · Member since 2017 · 18 posts · 10 votes
8y
@Andrew Korver Hi Andrew, first of all congrats on your purchase. Was wondering how things are going with Bridge and property management? I have joined their buyer's list and will be meeting with Nathan Brooks later this month.
I currently own 2 properties in KC, managed by Voepel, which I understand is one of Bridge's PM partners. I bought them just recently through a local realtor. Let me know if there is something I can do to help you while I'm in KC, I'll be there April 21-24th. Thanks!
Sal
1 Reply
Brock Thomas
Real Estate Agent · Kansas City, MO · Member since 2015 · 61 posts · 35 votes
8y
I’m local and very active as a investor and realtor. I have talked to Nathan a few times. We have mutual contacts that speak well of him. I know a lot of the “turn key” guys here and I won’t trust many of them. If your looking to invest with a turn key company I think you found one of the better companies... maybe the best in kc. At the end of the day you need to run the numbers and double check their market research. It appears they do better work than most. Best of luck.
2 Reply
Andrew Korver
OP
Aurora, OR · Member since 2017 · 44 posts · 58 votes
8y
Just a quick follow up as I get quite a few PM's from this thread. I did buy a property through Bridge Turnkey (and also through one of Mike D'Arrigo's partners) and the experience was as advertised.
A few hiccups along the way (within expectations), but nothing that would prevent me from our next purchase.
Quick tip- Call local home inspection companies and ask which TK companies are doing a quality rehab vs a poor rehab. They may have some great tips to share!
8 Reply
Tony Robertson
Property Manager · San Diego, CA · Member since 2018 · 7 posts · 0 votes
7y
@Andrew Korver That is a great tip - asking Home Inspection companies. I bet if you call all of them and average the received info you should have a fairly accurate grading of the TK operators.
0 Reply
Tyler Barker
Ventura, CA · Member since 2017 · 29 posts · 11 votes
7y
Andrew,
Were the hiccups you spoke of something that could have been avoided on the part of the Bridge Turnkey team? Or were these hiccups something out of their reasonable control in your opinion?
Thanks for the help
0 Reply
Andrew Korver
OP
Aurora, OR · Member since 2017 · 44 posts · 58 votes
7y
@Tyler Barker the "hiccups" surrounded a transition from internal PM to external PM at Bridge. I believe that my property got caught somewhere in the transition period and their initial PM recommendation had the property for 3+ months without placing a tenant. After giving the external PM many "second chances" we got the property transferred over to Voepel and a tenant was placed in less than 3 weeks.
To answer your real question, @Nathan Brooks and his Bridge team were a constant partner through this process. They took ownership, communicated well, and made me 100% whole once the dust settled.
3 Reply
Nathan Brooks
Real Estate Investor · Kansas City, MO · Member since 2012 · 397 posts · 187 votes
7y
@Tyler Barker @Andrew Korver I appreciate the honest dialogue and conversation. We definitely don't always get things right the first time (believe me, I wish we did!) But we always tell our clients, we always make things right.
@Brock Thomas appreciate you sir!
6 Reply
Tyler Barker
Ventura, CA · Member since 2017 · 29 posts · 11 votes
7y
@Nathan Brooks it seems consistent feedback that your team always does things with integrity from what I have seen. I would never expect perfection, but integrity is the most important thing in my opinion. Thanks for reaching out on this thread.
2 Reply
Nathan McQueen
Corpus Christi, TX · Member since 2017 · 36 posts · 6 votes
7y
@Andrew Korver other than the "hiccups" you mentioned surrounding the PM how has the rest of your experience been with Bridge? Checking in about a year later is the same tenant still in place? I've heard stories of about tenants other turnkey providers place not panning out, essentially they just threw any old tenant in the property and then turn it over to you and its your problem. That doesn't sound like the way Bridge operates, but I just wanted to ask anyway.
Overall it sounds like you had a good experience with Bridge. Would you purchase another property from them (or have you already)?
0 Reply
Andrew Korver
OP
Aurora, OR · Member since 2017 · 44 posts · 58 votes
7y
@Nathan McQueen tenants were screened and placed via 3rd party property management and have been great. While there is incentive for Turnkey providers to place a tenant quickly to reduce carrying costs, many will have a fairly decent warranty (repair, workmanship, vacancy, etc) into the first year of management. As such, they would be acting against their own interests to place a bad tenant.
Yes, I would certainly buy another property from Bridge if the right deal came along.
1 Reply
Jacob Fotu
Member since 2019 · 2 posts · 0 votes
7y
@Andrew Korver you mentioned you would buy another property if “the right deal came along”. What is the “right deal” for you? Is there a checklist of things you have to have in a deal?
0 Reply
Andrew Korver
OP
Aurora, OR · Member since 2017 · 44 posts · 58 votes
7y
@Jacob Fotu great question and happy to elaborate. I would imagine that you and I would have different perspectives on what would construct a "great deal" depending on our financial goals. For me personally, another Turnkey purchase would be a blend of great cashflow and a property that I am comfortable with (location, layout, etc). My goal is to invest in cash flow to take pressure off my 9-5 income. While I have the funding for more conventional loan down payments, I am also in the middle of a cost-intensive remodel here in my home state. That being said, if the "right deal" came along from a Turnkey provider that had great cashflow, I wouldn't hesitate to pick it up.
After a year with a few turnkeys, I would be looking to be more conservative with my assumption numbers (capex, repair, vacancy, PM, taxes, insurance, etc) and be looking to clear $100-$200 after those built in costs. Anything below that and I may have more creative uses for my cash at the moment. I haven't seen anything lately from the local providers that I am connected with that meets that benchmark, so for now I am in a holding/saving pattern. That doesn't mean that the local KC providers aren't supplying quality turnkeys, it just means that at this specific point in time I am being more conservative.
I hope this helps and feel free to PM me if you have any specific questions. What criteria are you using to consider a "good deal"?
1 Reply
William Kim
Burlington, MA · Member since 2017 · 61 posts · 16 votes
7y
@Andrew Korver Awesome stuff here and appreciate you being transparent with your experience with Bridge. I am also considering investing in KC and trying to find properties are in stable neighborhoods (B class) and that provide cash flow similar to your goals 100-200. Also being very conservative in nature, I feel as though it may be difficult to find that sort of property in that area. Would you agree? Have you thought about any other markets/turnkey providers?
1 Reply
Andrew Korver
OP
Aurora, OR · Member since 2017 · 44 posts · 58 votes
7y
@William Kim I have just window shopped in other markets outside of KC and my home market of Portland, OR. In my mind, it makes sense to consolidate at least a handful of rentals in each market to be more efficient (and provide negotiating leverage) with PM, contractors, etc. Some of the turnkey deals in the Cleveland suburbs look like great holds, I just don't know how I feel about the long term stability of the market and the population decline.
In terms of picking up a "great deal" I do believe it is getting harder to find those > 1% properties with solid cash flow. I have connected with a few folks on the ground in KC lately and their message is pretty similar. You can't just "fall out of the boat and expect to hit water" any more. However, there are plenty of healthy TK companies and home flippers in the market, which tells me the off market deals are still out there.
0 Reply
Nathan Brooks
Real Estate Investor · Kansas City, MO · Member since 2012 · 397 posts · 187 votes
6y
@Tyler Barker I am so sorry I missed this. And I really appreciate your comments, and I would say that is true. We don't always get things right the first time, but we always make things right. Operate with integrity. And seek to learn the mistakes and not make them again. Thanks again for taking the time to mention here, and hope all is well in your world!
1 Reply
Kevin Sander
Ladera Ranch, CA · Member since 2019 · 11 posts · 8 votes
6y
Wanted to place a recent post related to BRIDGE, and I'll keep it to the facts:

My first two properties ever I bought with them, and being new I didn't know what I didn't know. Overall the two properties sat vacant for quite a while (over the winter) and I was a little apprehensive about what was happening.

However, their team, product, and service all deserve 5/5 stars because of the following:

1. It is true that they honor the warranty and guaranteed payments, because this is what my income was for the first several months.

2. Their team's documentation, photographs, and accessibility is top of their class (ALWAYS accessible to listen to listen to newbie questions)

3. Property manager was just as fantastic: regular updates about leasing/markets/actions they were taking to lease out both.

4. Most of all however, was @Nathan Brooks personal involvement to resolve the irregularities and miscues to do exactly what he says above "We don't always get things right the first time, but we always make things right. Operate with integrity."

This has been my experience and I hope to buy more from Bridge and constantly recommend them.

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