Imagine that you have four rental properties sitting completely vacant. You're trying to rent them, but you have no tenants and you have no rent coming in. Well, that's exactly the situation I'm in right now. In this episode, I'm going to show you what I'm trying to do about that, including dramatically dropping the rents on those properties. And I want to show you why I think this is happening in my local market and my plan and strategy to do something about it and also to learn from it. If we haven't met yet, my name is Chad Carson. You can also call me Coach Carson and this is a Coaches Corner edition of the podcast where I'm more informal and I go behind the scenes. And what you're about to see is actually something I shared with my rental property mastery community. Every single month, I have something called business backstage, where I go really transparent, show the actual rentals, the numbers, the good, and the bad of my business behind the scenes. So if you're interested in joining rental property mastery, we're actually 95% full in the community. We have a 300 member cap. And so you can check it out and find out more details at the link and the podcast in the YouTube description below. So I want to share a current behind the scenes challenge that I'm having.

You know, sometimes it's easy to go behind the scenes and share, hey, these things are

going great. Look at how awesome I've been doing. But this is real. This is the kind of things

that we real estate entrepreneurs face, which are problems, challenges. And in our case,

we have four properties right now that we would

like to have rented that are not rented. One of these is a house. One of these is a unit three of

a fourplex apartment. And then we have two units of a triplex. And what's interesting is we've had

these on the market in three cases since March or February.

And I'm at a college town to give you a little bit of background in Clemson, South Carolina.

And so we have leases that go from August to July.

So the people, the 10, I'm recording this in mid-July or mid-August right now.

And so the end of the last month, people moved out.

We had all of these occupied

before, but we always pre-lease in a college town. That's just the way the market goes is we can

start trying to lease properties in February, March, after we find out whether a tenant's going

to renew or not. So we give the existing tenant chance to renew. And in these cases, the person did

not renew. And so we started marketing it, the three of these properties. And so we have not been able to fill it up since March. So that's where we are. In one case, we have a single family house. And if you've watched any of my videos for a long time, this is actually my original house, my very first house that I bought when I was 23 years old. I bought it from another investor, put 5,000 down, got seller financing. And I quickly realized in under a year that I couldn't afford this house living there in a three bedroom house. And so I ended up renting it out. My business partner and I have kept it ever since then. And it's grown, it's done well. And we had it for $1,900 bucks per month last year. But then, but this right currently, we're about to drop it to, we did today $1,195.

So that's where we are right now, still not rented.

We're dropping it from what we thought was the market rent before to try to get it rented.

This two-bedroom one bath apartment, we had it rented in

2022 to 25. So a three-year tenant, which in a college town is pretty good for 720. And the

rents have gone up since then. We actually have one unit rented for 900 bucks. And but we're now

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