I am a real estate investor in Peoria with one duplex and one single family home so far but want to keep growing. Looking to connect with some other real estate investors in the area!
I live about an hour away, but work out of the Peoria area (except working from home due to Covid-19).
CAT still has a fairly large presence in Peoria. Two factories, some offices, suppliers. Also, Rivian is a new electric car manufacturer that is setting up in the old Mitsubishi factory in Normal.
Some bright spots, but not likely to see appreciation that you see in other markets.
Roschelle have you thought about joining the local landlord group? We have just about 500 members and we're based in Peoria. There is no cost to join. ***Edit I see you re already a member!
Also an investor in Peoria, IL here! I have a small mixed use apartment/commercial property, and another commercial property with 2 office suites. Looking at buying my next multifamily in the next several months. Would love to connect with others in the area.
Property Manager · Janesville, WI · Member since 2017 · 707 posts · 297 votes
5y
Timothy,
I am located a bit north in Rock County, Wisconsin but I would still love to connect. I work with a few Illinois investors who are all interested for many of the same reasons. There is so much growth in this market right now, coupled with the proximity to their market and lower entry costs, it makes a lot of sense to invest here. If you would like to chat about it or just connect, I would love to do so!
Rental Property Investor · Washburn, IL · Member since 2020 · 16 posts · 8 votes
5y
@Timothy Harbison Hey Tim, my wife and I just bought our first 2 duplex in Washburn and was introduced to this site. Love learning about the different strategies for investing and always looking to learn more and pursue opportunities. Would love to connect with anyone in the area/region!
Contractor · Nashville, TN · Member since 2014 · 1k+ posts · 1k+ votes
5y
Okay Peoria people, I live in Nashville now but I grew up in Peoria for 18 years. I've often thought about investing in Peoria because the properties are more affordable and I still have some contacts from living there that could assist with boots on the ground.
what makes me very uneasy is the trajectory Peoria is on. Even before cat left, the population was flatlining and growth seemed weak. It just doesn't seem like a great area to invest in. Am I way off?
I'm in Clinton, IL. About an hour away. Just bout my first BRRR property. Would love to connect, and definitely interested in learning more about the local RE groups.
I live about an hour away, but work out of the Peoria area (except working from home due to Covid-19).
CAT still has a fairly large presence in Peoria. Two factories, some offices, suppliers. Also, Rivian is a new electric car manufacturer that is setting up in the old Mitsubishi factory in Normal.
Some bright spots, but not likely to see appreciation that you see in other markets.
I also have a property that was originally intended as a flip. It is getting ready to sell but I am thinking about just BRRRing it. Does anyone know a good PM in the area?