All Forum Posts by: J Leman

Hey Haemi... I am happy to help you with long or short term (airbnb) in Champaign IL. I own both myself and I also have helped many out of area investors find properties that work what you are considering

If you are going for JUST cash flow the midwest is the place to be but does not have the population growth/job creation of the Southeast and Texas for the most part but there are some exceptions. 

Lower population growth usually means slower appreciation.

Couple things:

1) If all units are 2 bed 2.5 bath - why is one unit so much higher in rent? Could you bring the other units that high

2) $575 per unit per month is hefty for utilities and will really eat at cash flow. Any way you could "Meter" out the units to put utilities in their name?

50,000 Purchase price... I will speak for market I know well. Danville, Illinois. I have helped a lot of out of state investors purchase properties for 50,000 here that rent for $800 to $850

Good property management as well we can get you hooked up with. Property management is KEY in Cash flow markets like Danville.

The more experienced an investor, the more offers they will make without walking the property. They will usually save that for due-diligence period. 

The more Inexperienced an investor is the more they will want to see the property before they ever offer on it.

There is no right or wrong way, but as time becomes more valuable, investors make more offers than walk throughs. 

If the numbers and location make sense then make an offer, just make sure you have your due diligence/inspection period.


 

@Michael Lafears Sounds like you are on the right track. I am new to posting on the board as wel. Currently have a couple duplexes in my market that hit the 1% rule, fully rented, and clean (but not super updated) props. College town as well.. University of Illinois. Airbnb probably not the best for this location