And my experience is the opposite. UR is talking about appreciation (i.e. speculation on things like FHA buyers paying more) and I am looking at pure cash flow. In the small complexes you can get a garage and sometimes a full size washer dryer. Give someone their own modest home with a safe place to park and store things (a garage) and in unit full size laundry (no more laundromats or fighting for community dryer, saving quarters etc) and they will stay longer. Charge then just under market rent and why would they leave?
He can have his slightly higher rents and the turnover that goes with it. I’ll take long term stable tenants which are more protiftable as vacancy and repairs/clean up after each tenant turnover are your worst enemy. But then again what do I know?
