I live in Danville IL and it looks like everything is for sale low prices homes rent ready anywhere from 15 to 30k and of course your older run down houses 3-10k all different types of houses in different conditions. I do know This is a big renting area not a lot of people buying but I have notices houses are selling for 50k to 140. I'm just not sure which route would be less of a risk fix and flip or buy and hold. I check realtor.com every other week and still see some of the same houses still not sold, so I would guess it would be a good idea to buy and rent out one of these properties since no one is really buying ??
I'm definitely not for sure ANYONE feel free to reply with any insight you might have on this type of market, am I on the right track???
what do the houses rent for? Is there a strong demand for rentals?
In my opinion and from what I've observed there is a strong demand for rentals the ones that go the quickest are the 2/3 bed one baths from 500-800 a month. We have a local Facebook page where everyone post what they have for sale or rent and other people post what type of rentals their looking for and those 2 and 3 bedrooms go fast.
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