Recommendations for Peoria, IL Agents and Property Managers?

Question

Hi there!  I'm looking for a good agent and property manager in Peoria.  Would love any names and leads.  Thanks!

Steve Sanchez · Answer

I’m a Peoria Illinois landlord and investor, here’s my take. It depends on the segment of the market your buying and renting to. The sub30k market (which I’m in) is challenging. I haven’t found a decent property manager in the area at all. Core 3 while I have not used and my friend has, he was not happy with them at all. My experience with others has been the same. We are self managed now (40+ units) and I love the ROI but it is work and a lot of it. You definitely need boots on the ground on the area I’m investing in.

Cara Lonsdale · Answer

Not necessarily, I just worry about having a property sit too long.  I agree that it is about supply and demand, so when I go onto various sites and do rental searches and see that the unit/property posting has been on the site for 30-60+ days, I get a little uneasy about the ease of renting it right away.

Dan Cumberland · Answer

@Cara Lonsdale There are a number of factors: my wife's family is originally from the area, I've spent a considerable amount of time there, and I have a close friend nearby.  All of that adds up to an area that I know and a place I'd like to have an excuse to visit once in a while.  But most importantly, the numbers work well for me from an ROI standpoint.

Regarding vacancy, I don't see small towns being an issue, as long as vacancy rates work with my analysis— which I still need to verify.  Vacancy is about supply and demand— which can be just as hard to fill in a large city as a small one.

Do you feel differently about small towns?

Cara Lonsdale · Answer

@Dan Cumberland how did you decide on Peoria?  I have some family ties that go back to there and Rockford, Il, and recently was considering some property in Peoria, but was trying to decide whether I was considering it based on ROI or sentiment.  How did you decide that Peoria would be a good investment?  And are you concerned with how quickly the unit(s) can be rented in such a small town?

Dan Cumberland · Answer

Thank you @Jerome Hranka !

Recommendations for Peoria, IL Agents and Property Managers?

Most Popular Reply