Central Illinois Investing

[Ryan Valdez]

Hello All,

Looking for BRRR opportunities in the Galesburg, Peoria, and Springfield areas as I'm just starting out. I just visited these places and see a lot of potential but I'm clueless as I don't live anywhere near that area. It'd be very cool to establish a ground crew and start building up these cities. I've listened to quite a few BP podcasts and read some of the recommended RE books so it's time for me to pull the trigger and get it going. Looking forward to hearing from you!

[Edward Robinson]

@Ryan Valdez

Hey Ryan! Central Illinois native here. Glad to hear that someone else sees potential in Illinois. Personally, I'm from Springfield and have a few deals being vetted right now. If you're looking for a recommendation from a native, there is a lot of positive stuff going on in central Illinois.

Peoria is a growing city with an expanding economy, but that's all I'm aware of about Peoria as I'm looking more local in my own county.

I've only ever driven through Galesburg while driving my truck routes and it's a good looking college town but I couldn't comment on where its headed.

Now Springfield, it's an interesting city with a growing downtown area. There has also been a lot of money poured into both of the hospitals in the area, and both are expanding as well. Crime is a pretty big issue for most of the city. Some areas are better than others, but those areas can be only a block apart.

Property values ARE rising in Springfield but slowly. You should also keep in mind that Illinois has some pretty hefty property taxes.

That being said, there is a mass exodus of people leaving illinois due to policy changes, taxes, businesses leaving illinois and a history of having bad governors. Idk if you ascribe to Warren Buffett's idea to be greedy when others are afraid, but I personally feel now is a great opportunity to jump in and snatch up properties for very cheap, as people are motivated to sell so they can move. Houses for 50k can rent for 800 (VERY Conservative number), and there are enough run down houses that there is room for profit everywhere.

I guess what I'm saying is, if you're looking in this area, I dont believe you will be disappointed. Theres plenty of room for more people and if you ever need a local boots on the ground, dont hesitate to hit me up :)