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Updated 6 months ago, 07/01/2024
Slow to find tenants or over reacting?
Hi All, I recently closed on 3r / 2b (each unit) duplex in Fayetteville Ark right near to the college. We were able to list it just as school was ending about 2.5 weeks ago. My units are moderately priced as others in the area. There is an exact replica unit down the street higher (marketed well) and another listed for lower (marketed poorly) Both about $65 higher and lower. Both of my units are unoccupied, which is what we wanted as they were under rented prior and with school ending I thought it would getting lots of rental applications. I have professional photographs and a PM doing the leg work. We have had some interested parties and a few applicants who have seemed to have since disappeared.
My question being a first time investor, when is a good time to lower price and am I overreacting 2.5 weeks into this thing :) Thank you in advance for you opinions!