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Updated over 3 years ago, 07/31/2021
Annual turnovers destroy all net income
I own a number of rentals in south Chicago. We've had some pretty high expenses each time a tenant moves out, such that the turnover costs can eat up all of the net income from the previous year.
I don't believe it is the property manager, but rather the tenants and perhaps the age of the properties too. I am now seriously considering selling everything and buying somewhere else.
The question is, where in the country are new builds/new construction selling for under 150k/SFR? Anyone have any locales they are willing to share? Right now Allen Park, MI is on my radar.
Thanks