Market Conditions in Gary>Question Details

Renan, Other/Just Looking in California

is gary indiana a good place to buy investment property?

Asked by Renan, California Mon Dec 3, 2007

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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.
1 vote Thank Flag Link Mon Dec 31, 2007
I grew up in gary. My father got us out of there in the late 70;s. If you can live with thugs, gangs, drug dealers and everyother type of criminal then gary is where you should be.
The area called Miller Beach is on the shores of Lake Michigan. If you love the view of all the steel mills polutinf the water then this beach is for you.If you want to send your children to war on a daily basis then the gary schools is where you should send them. I lived in gary for 20 years which all were the worst days of my life. I vow never to step foot in gary ever again and my children will never have to see the injustice i had to witness at a very young age.Anyone advising you to in vest in gary has a screw loose.
0 votes Thank Flag Link Sat Jul 9, 2011
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.
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0 votes Thank Flag Link Thu Feb 28, 2008
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.....
0 votes Thank Flag Link Fri Feb 22, 2008
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.
0 votes Thank Flag Link Wed Feb 6, 2008
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.
0 votes Thank Flag Link Fri Jan 11, 2008
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.
0 votes Thank Flag Link Sun Dec 30, 2007
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