May have price my unit to low

[Matthew Lindsey]

Hi,

I’m looking for opinions on my situation. I just recently bought two duplexes. One unit was vacant and we renovated the unit. We just listed the unit yesterday and have had a crazy amount of interest. I have been watching rental prices in the area for several months now. I thought the price I put on the unit was a decent price point compared to what I had seen. However I was contacted yesterday day by another investor that has a duplex just a few houses down and he stated he was getting more than that for his units that have not been renovated. That I may be at least 10-15% low. The problem now is that I already have showings for Friday now. Would y’all pull the listing and update the price or would you take this as a lesson learned and rent it at the list price then increase soon? We are going to just do a MTM lease on the unit. If you say pull the listing what do I tell the ones that are set up for a showing on Friday? Thanks for your input.