All Forum Posts by: Scott Reed

Hi Mara, I live and invest in Peoria and would be happy to give you my 2 cents on the area.

Welcome to BP

Shane,

I guess it depends on how you are going about the rehab. Are you doing the work yourself or do you sub it all out. If you sub it all out then you should be able to manage 2 projects at once. If you are the labor force then I cant see you rehabbing 2 properties at once.

Currently I have suspended my investing while we are rehabbing a distressed property we bought and plan to move into. Home was purchased with cash and all rehab is being done by ourselves and paid for in cash. This will allow us to sell our current home and then move into the mortgage free home and sell (or rent) our primary home.

Since we are hands on do-it-yourself investors we cant continue until one is done.  But once completed we will have our old mortgage payment to use toward more investing.

Hope this helps 

That sir, is one heck of a story! We welcome you to Peoria. We'll learn and profit together. See ya soon!

Hello all.  I currently live in Peoria and have 6 units there and a bid on my 7th.  I moved here from Johnstown,PA in 2012 and began investing in 2013. 

Yes - for the most part Cat drives the economy but I think we are at or near the bottom - as far as lay-offs go. We still have both hospitals which employ a ton of people as well as Bradley University and the medical / nursing students so I think rental market is still good.

I buy distressed properties and put in sweat equity to bring them up to par. I invest in low-crime areas and do not invest for appreciation. (Any is just gravy)

I have not ventured outside of Peoria into West Peoria, East Peoria, Pekin, etc... because I still continue to find decent deals in town.

feel free to reach out to me if you wish to discuss the area further

be fruitful

I currently own a duplex in my LLC but I am considering buying it from my LLC and living in it myself while renting other unit (house hacking). How difficult is this? I would pay my LLC what I paid for it.

I have a vacancy at a property that I am considering renting to a section 8 tenant. I was wanting $725/month. Section 8 will pay $695 max. I was wanting the renter to come up with the rest but my Property Manager advised me that "technically" we can't ask for more than HUD will pay.

What say you? Illinois only please.....