“We want to ensure we are buying a property we know we can renovate to our standards with the right ARV in order to give us the outcome we need to provide a quality, cash-flowing property to our clients. Fortunately, we got to have the unicorn project with this house,” Brooks said. But of course, that is not always the case. A lot of properties have foundation problems, or electrical panels that are not upgraded properly. These issues can incur investors thousands in unexpected expenses, and although not always noticed up front, they are signs to watch for when investing in a turnkey project. This house was a clean slate for a full renovation. It had a welcoming exterior aesthetic, which the Bridge Turnkey team enhanced with a pop of color on the front door. Other improvements included kitchen and bath overhaul, refin- ishing hardwoods throughout, and the company’s promise of using “10-year useful life” products. “Our construction philosophy is simple: if it doesn't have a 10-year useful life, we will fix it or replace it, including roof, HVAC, plumbing, and windows,” Brooks said. “This is a benefit to investors and tenants.” This home’s good bones came with the bonus of quaint craftsmanship details that were preserved during ren- ovation. The original trim, moldings, and bookshelves were salvaged to keep a lot of the home’s character. “One of the biggest lessons learned so far is to work with the space and structure of the property if it’s in good shape. In each property, we always fix or replace any- thing that doesn’t have a 10-year useful life, but we also
Kitchen during renovation
Kitchen after
24 | think realty magazine :: may / june 2019
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