Investing in Peoria, IL

8 Replies

Hi all BP folks! 

I've been evaluating the RE market in Peoria, IL. In my opinion, population growth, job diversity, supply demand, and a few other markers are making me feel okay with investing in MFH in this market. 

However, one thing that was pronounced in my evaluation was the crime rate. 

I am an out of town investor so I would love to get a local investor's perspective on Peoria and directional advice would be great thx

FYI the largest employer in the Peoria caterpillar just left for Chicago..

Hi @Jesse Fernandez glad to hear of your interest in Peoria. Peoria is a city with its share of problems but my wife and I love it here and see the future as very promising. And yes, Caterpillar has decided to move its HQ and its 300 top execs to Chicago land area... but will leave behind a strong downtown presence and remain very active in the local economy here.  The bread and butter of Peoria is their exploding warehouse district with many rehabbed buildings and new businesses coming in.  Picture Peoria as a city that "gets it" now but didn't for a long time, that puts us farther behind more progressive cities in terms of green infrastructure and bike lanes etc. but moving in the right direction, and all that circles back around to your question on crime. Yes, Peoria has its share of crime but it is located in certain pockets of the city as to be expected. I think as development continues and your tax base increases you are able to reinvest in more community development and police officers, I think at that point it snowballs and continues to improve.  Best of luck! Feel free to dm me if you have any questions about specific areas. 

Cheers

Jesse 

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hi @Account Closed I don't think I quite follow, can you expand more on "subject to and selling to tenant buyers". Are you referring to buying a rental property no cash down and renting it to tenants for healthy positive cash flow returns? Or are you referring to another strategy? 

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I've found Peoria's surrounding areas to be quite robust for rentals.  District 150 schools which is pretty much all of Peoria except for a few pockets that feed into say Dunlap are not in good condition. They bring high taxes and subpar schooling.  The surrounding towns get all the people wanting to escape the Peoria conditions, and you can pick up houses at good pricing often without getting into highly impoverished or dangerous areas.

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