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First-Time Investor Peoria, Danville, or Another Market?
Hey everyone,
Im a first-time investor looking to buy a single-family rental for $40K-$50K in Peoria, Danville, or another affordable market. My goal is to build long-term cash flow while keeping things as hands-off as possible I dont want to take on a major rehab.
Is Peoria or Danville a better rental market for my budget, or should I be looking elsewhere? What are realistic rents for a property in this price range? Are there better markets where I could get similar pricing but stronger long-term returns? Are there specific areas I should target or avoid?
If you were me, where would you invest?
I appreciate any insights from those with experience in these markets or other affordable rental areas. Thanks in advance!