Newbie from central Illinois

19 Replies

Hi all! Wanted to introduce myself. I’ve been thinking of getting into real estate investing for about 6 months now. I’ve been reading posts here, books, watching webinars and studying anything real estate related. I’ve talked with my local small town bank about real estate investing and financing (they are onboard), talked with my realtor here in Peoria (who has done flipping herself in the past) about helping me find properties, will soon be talking with a realtor friend in Springfield (who also invests herself) to help find properties in that area in addition to already having in place general contractor/handyman and an electrician and a neighbor who used to manage rental properties and apartments and is willing to help me out with that aspect of real estate. I’m hoping to purchase my first rental this year ( single family or small multi family). I feel like I need to get started on this as soon as possible so I will have monthly passive income by the time I retire which will be within 5-10 years (I am 51). My interests are single family and multi family rentals and I’m considering flipping occasionally for that shot of cash when needed. My goal is to get to at least 3000-5000 monthly cash flow by the time I retire. I would prefer to work within my area but am open to locations other than my “backyard”.

Looking forward to learning from all of you and developing productive relationships!

Welcome @Libby Baugher to BP! Enjoy all the learning you can find!

So you're aware there are a number of meetups you could attend. I'm not sure if the peoria one is still meeting but there is one in Bloomington and I'm running the one in Champaign. 

Best of luck!

Thanks Steven! I’d be interested in those meetings....let me know where I can find details!

Hi Libby, I'm a newbie myself but I'm glad to help in any way I can.

Hi Marcus! Thanks for the offer! Do you attend any real estate meetings in this area?

Hi—I go to the meet ups in Bloomington Normal. Look in the Meetup app for: Central IL REI, Chambana Real Estate Investing Meetup, and Springfield Real Estate Investing Meetup. I’ve heard that the Peoria one will gear up again.

Originally posted by @Libby Baugher :

Hi Marcus! Thanks for the offer! Do you attend any real estate meetings in this area?

It's been a while and I'll be attending the one that is being hosted by @Steven J.  on Jan 11. 

Hello @Libby Baugher

I am an investor here in Bloomington. I am also looking to expand outside my backyard. I currently have 37 Units. Just closed on a 5 Unit last Friday. 

There is a meet up here in Bloomington ..and a Facebook page called "Central Illinois Real Estate Investors". We meet on the second Tuesdays of every month. Our organizers Marti and Marshall are in constant contact with the Peoria REI Group. They meet in Washington, IL. I'll be willing to help you out where I can. Let's talk!

Welcome @Libby Baugher !  I’m also working as an investor in the East Peoria and surrounding markets. I’m fairly new myself, but happy to try and answer any questions you have. 

thank you all for your replies! I'll definitely have some questions for you all soon! I'd like to get a list going and then I'll post it.....

It's about time @Libby Baugher! LOL Glad to see your finally making the leap!

Hey Steve! Was actually gonna contact you but I don’t think I have your new cell number. How have you been?

@Libby Baugher - Welcome!

If you want to keep your eyes open in the Lasalle County area, let me know! We've got some great deals here (also a share of some scary areas to stay out of lol)

Otherwise in the same situation as you, getting started and trying to just build and replace my monthly bills with passive income. After many many years of research and dead ends, I finally got my first SFH for 23k in November, working on fixing it up and will be renting between 850-900.

One down, hopefully many more to come! Good luck and hope BP is as valuable to you as it has been for me! =)

Originally posted by @Melissa Kirchhoff :

@Libby Baugher - Welcome!

If you want to keep your eyes open in the Lasalle County area, let me know! We've got some great deals here (also a share of some scary areas to stay out of lol)

Otherwise in the same situation as you, getting started and trying to just build and replace my monthly bills with passive income. After many many years of research and dead ends, I finally got my first SFH for 23k in November, working on fixing it up and will be renting between 850-900.

One down, hopefully many more to come! Good luck and hope BP is as valuable to you as it has been for me! =)

Thanks Melissa! I'll check that area out!

Sounds like you've already started putting your team together. Now go out and find a deal and buy. Talk is cheap. Take action, @Libby Baugher and you will surpass your wildest expectations! 

Libby - I run the Peoria REI. We are meeting 25Jan at Keps in Washington -

https://www.meetup.com/Peoria-Real-Estate-Investors-Group/

Hi, @Libby Baugher ! We're in Normal, and are just dipping our toes in. Good luck finding your first deal! 

Welcome!! we have been doing for about 3 years... taking it slow and learning as we go. Let me know if we can help in any way. 

Hi Libby, I know this post is old. I just stumbled upon it by chance on a google search for peoria area real estate groups. I'm excited to see fellow East Peorian on the same path! I just wanted to introduce myself. I also live and invest in East Peoria and surrounding area and have some great team members that have been a huge blessing by helping to fill the void in the areas that I lack, allowing  me to maintain the confidence level I need to move forward and focus on my strengths.  If any of these resources could be of value to you, or if there is anything else I may be able to help with along your path, please contact me. I'd love to connect with you and hear about your progress! I hope your journey is underway and that you are thriving!

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