All Forum Posts by: Allison O.

@Chris Porter Thank you for the info!!

@Chris Porter Thank you. Do you see this area continuing to grow or remain stagnant, especially with the potential downturn we may be facing? Since duplex inventory is low, would single family homes be worth renting out in the area?

Hello,

I am looking to buy my first rental property. I want to spend as little out of pocket as possible, and I am thinking that means I have to look out of the Chicago market and possibly out of state. Since this is my first rental, I want to be somewhat familiar with the area and have it accessible, so staying in the midwest region makes sense to me, although I am ultimately open to other reliable opportunities farther away.

So, how do I research areas with potential upside? Where can I find reliable information on up and coming areas, avoid of pure speculation? What specific factors do I look at to determine a market is up and coming and where do I find this information? Google gives me too many differing opinions; rental income is my main goal, although I would like to see some appreciation in the rental I choose- I don't want to be upside down in an un-rentable property in a few years if the area tanks. 

Thanks!

Hello,

I am interested on thoughts about the current real estate market in Peoria and East Peoria. I go there once a month for work so I am somewhat familiar with the area. I know historically Peoria has had some problems, but I am noticing better areas. I would most likely be interested in renting out multi-family units and would have to use a property management company, since I live outside of Chicago. 

Thanks!

Thank you, your insight is very helpful!

I recently bought a small house and want to give the exterior a facelift. The windows are an older wood in a cream color and most are hard to open. It would be pretty difficult to paint and somewhat costly to hire someone. I plan on staying 3-5 years then making the house a rental. Is it worth replacing or should keep the existing and try painting them?

I purchased a small house last fall. I could see myself living there for a few more years, but things could change and I could also need a bigger space. Either way, I would keep the property as a rental. I am also working towards getting my first rental property next year. 

My current home definitely needs exterior updates for curb appeal. Sherwin Williams did a free exterior paint consult which was great, but now I run into execution. I got a few quotes from $1500-over 2k to detail paint the windows, gutters, siding above my porch, the railing, and shutters. And if I do this myself, it would be tedious and not guaranteed to look great. The windows, doors, gutters, shutters, and porch railing could all stand to be replaced. If I hire a local contractor that would be affordable, they will expect me to know exactly what I want (I have an idea but need guidance). If I go to a design and build, they will have the vision I lack but be much more expensive. I don't want to pour money into this place if the ROI doesn't make sense. Another option is to do one replacement at a time, but I want a cohesive end result and doesn't want to stretch this out for years.

So, what would you spend money on and prioritize? Are the new things I listed above worth it? Or should I just take a chance and paint everything and see what happens? Picture of the house is attached for reference; the first picture is what is currently is and the second is a rough rendering of what Sherwin Williams suggested I do.

Thanks!