Peoria, Illinois - Investor feedback on area

[Crystal Perez]

Hey there! 

Newbie doing research on a place to invest in. 

I came across peoria, as most of the home seems to match the 1% pretty easily. A Little too easy and it has me worried I am missing something. Do any of you invest there or have some feedback for me on this area? I understand the area wouldn't appreciate the home much, I am seeking more of a decent COC. Which the rents in this area call for.

All information is appreciated , thank you

[Ryan Sunley]

Hey Crystal,

I have 3 properties in the Peoria area, so by no means am I an expert, but I'll throw out some of my comments and experiences:

- Watch out for property taxes.  Illinois has relatively high property taxes and the Peoria area is not an exception 

- As with most markets, Peoria has its nicer areas and its not-so-nice areas.  I would recommend connecting with a real estate agent that can help ensure your property search will align with your goals - I use John Kepple (KW agent).

- Peoria has a healthy employment base but is heavily reliant on Caterpillar and two large hospitals.

- Rents seem to be increasing.  There is not a lot of supply of well maintained rental units (especially with more than 2 bedrooms).

Those are the first things that come to mind but please let me know if you any questions.