It depends on what your investment strategy is. The low purchase prices and hogh rental rates make it a great place to buy and hold. i have seen some of the investors i work with buy at a price that gets paid in full from just 5 years of rental income. that is a spectacular ror. the downside to a gary rental bueiness in my expierence is the turn over of tenants is alittle higher than normal. it would be imparative to have a strong managment company familiar with the market up in gary.

Thu Feb 28 2008, 19:38

Renan,

To get a better idea of what the area is like, in reference to owning rental property in Gary, IN, check out this link: http://www.bestplaces.net/city/Gary_IN-51827000000.aspx

Some other advice would be to talk to some local property managers. Brokers often, but not always, will not give you all the information you need to make an informed decision. Property managers will give you a better idea of the rental market.

Here is another site to check local rents in some of the areas/pockets you are looking at: http://www.rentals.com

Lastly, what has brought you to this area? Are you looking for cash flow? Appreciation? Tax benefits?

I work for a real estate investing company and we only deal with investors and rental properties across the entire nation.

Please feel free to ask any general questions about investing or bounce ideas and your findings off me. We help people like you purchase investment properties in emerging markets across the US.

Look forward to any questions you may have!

Denton Ward
Nationwide Real Estate Investments
http://www.nwrei.net

Fri Feb 22 2008, 09:01

Talking up Gary's Miller Beach does not change the facts. Miller Beach is a part of Gary. Crimes doesn't stop here! Horrent taxes! Oh, and keep in mind the panoramic view (Steel mills on both sides - how romantic). Excuse my French: You can put lipstick on a pig, but ........
It will take decades, to build the beach community, everyone is dreaming about . Don't let you talk in to buying / investing at Miller Beach. If you plan an investment for your children, fine! But if you are looking for nice and safe place for you and/or your family, stay away. Miller Beach is not a safe place.
A real estate friend told me: There's a sucker born every minute.
In this spirit.....

Fri Feb 22 2008, 08:03

I agree that is depends where you invest. Lake front property in Miller Beach has excellent property value, but the taxes in the past few and still the next few years, are skyrocketing! So, you may want to hold off until the taxes are under control. But, otherwise, lake front property in Miller Beach is an excellent investment. Those who avoid traveling through Gary because Gary has "such a high murder rate" ought to become a little more educated about their surroundings before making those assumptions.

Wed Feb 6 2008, 13:31

I think the answer to that question depends where in Gary you are looking. Did you know Gary has a beach front community? It is called Miller Beach. This area is still undervalued as far as Lake Michigan communities go.

Fri Jan 11 2008, 11:56

Gary Indiana has a very high murder rate. I would say making a real estae investment in that city would be risky. Most people in the state avoid traveling thru Gary, let alone purchasing a home there. I am not an agent, but I had to reply when I saw what city you were asking about.

Mon Dec 31 2007, 18:34

Gary, Indiana is a great place to invest in property. The values of properties after rehab range from 35000 to 95000 depending on area. Also, Gary has an airport that may be used in the future to lessen the air traffic at O'hara; therefore, it is alot of growth potential.

Sun Dec 30 2007, 10:02