is gary indiana a good place to buy investment property?

Asked by Renan, California Mon Dec 3, 2007

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Anthony, Home Buyer, New York, NY
Sat Jan 14, 2017
Gary is the best place to buy and hold. Tenants will return lots of money now and the property will sell for more years from now when gary comes back alive. Houses are dirt cheap now in the city for purchase. Wake up yall
1 vote
Rebeckajo, Home Owner, Valparaiso, IN
Sat Jul 9, 2011
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.
1 vote
Flag Fri Sep 15, 2017
Holly Futrell, , Chesterton, IN
Fri Jan 11, 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.
1 vote
Amber, , Indiana
Mon Dec 31, 2007
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
Serena N. Br…, , 46408
Sun Dec 30, 2007
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.
1 vote
Mark Borst, , Schererville, IN
Thu Feb 28, 2008
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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Maximilian, , Indiana
Fri Feb 22, 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.....
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Lisa, Home Buyer, Indiana
Wed Feb 6, 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.
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