06 Oct What are the Worst Illinois Cities to Invest in?
Where to Invest? That is the question. Investors should never choose one of the worst cities to invest in. They should look for cities that want their capital influx in restoring any aging and deteriorating homes.
Let’s face it, there is no perfect place to invest in. Real estate laws and regulations vary from each village, town, city, county and state. Every municipality has its own benefits and drawbacks. Investors must choose the places they invest in carefully.
Consider the city of Belleville, Illinois. Belleville is a complicated amalgam of humanity. The roots of the town are French and German going back a couple of hundred years. Today they have two high schools, two colleges, an indoor shooting range, Mexican grocery stores and immigrants from far and wide.
Unfortunately, the city leaders have decided to make Belleville a non landlord friendly environment. Is the city trying to prevent those they consider to be undesirables from renting within their environs? (See article link below)
Would those early French and German settlers even recognize the town they built with their own hands?
Welcome to Belleville. Where working on your own property is not only frequently impossible, it is often illegal.
And also, only owner occupants can work on their own property. Many of the other aspects of Belleville are great. But for those who choose to invest, is has become a a bureaucratic nightmare. A place where politicians dictate what investors can and cannot invest their sweat equity into. That stance is criminal in my opinion.
Invest in Belleville – Here is What’s Wrong
As a result, Belleville’s long standing ruling drives up the cost of doing business and forces many talented potential investors to look elsewhere. However, these are investors looking for homes and neighborhoods to improve. Wouldn’t Belleville want their help?
Many investors will tolerate a safety inspection. Even though that is a violation of the 4th amendment. They will accept it. But only as long as the city does not charge a fee for the inspection. The problem remains, investors are being told what they can and cannot do with their own hands and their own property.
So in summary, what do you think is the worst city to invest in? Please leave your comments below in the discussion area and let us know why it is not a great investment opportunity. If you want your post to stay, keep it clean, polite and don’t name or refer to any city employees or officials.