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Updated about 1 year ago,
Reducing rent to place a tenant?
I am relatively new to investing. I have 2 quadplexes in Atlanta being managed by a PM since I am in California. I bought these units because the PM said the rent in the area was $1250 and they believe I could get between $1250-$1275 a month per unit. So I bought these units assuming these numbers as that would make me cashflow. However, the unit has been on the market for one month and now they are saying to lower the rent $25 every week. My question is, how low do I go? Do I go down past $1200 where I won't cash flow every month but it's better than no tenant? I would love to hear feedback from the seasoned investors. Thank you.