Rental Property Investor · Gary, IN · Member since 2019 · 24 posts · 29 votes
Hi,
My name is Deana Johnson and I recently starting buying and holding in Gary, IN. Gary is my hometown and after moving back I wanted to see a change in my city and am starting by providing nice rentals in low income areas. Everyone deserve a comfortable, safe place to call home.
Rental Property Investor · Gary, IN · Member since 2017 · 35 posts · 32 votes
5y
Hi Gang, I also am buying single family homes in Gary. @Dusty Cady for lenders I've had good luck with PrimeLending and Caliber Home Loans. I have an incredible property manager - CVS. Curt and Vicki Shefulsky. They are full service, can do everything up to managing and executing a gut rehab/ BRRRR project, etc. Title companies I've used are Indiana Title and Meridian. Both were good.
@Michael Stockwell are you still working on getting started? Feel free to hit me up any time. Happy to chat.
@Doug Phillips I'd love to hear an update on what you have going on these days in Gary. I may be able to connect you with more buyers including myself.
@Deana Johnson I'd love to also hear an update on your Gary investing and projects if you have time to write :) Thanks!
Rental Property Investor · Dothan, AL · Member since 2020 · 32 posts · 10 votes
4y
Deana - I live in Alabama but I have been investing in Gary for the past year. I currently have three rentals there and am looking to add several more over the coming months. I like the market and I take pride in offering Gary residents quality housing options.
Property Manager · Lindenhurst, IL · Member since 2016 · 854 posts · 506 votes
4y
I'm glad to see so many other people are investing in Gary! I invest there also, and so far so good. @Ryan Shoe I don't know the exact rate, but I would double-check the property tax rate. It should be an easy online search. One of the benefits of owning a rental property in Gary is the fact that the property tax is LOW.
@Doug Phillips Thanks! I am currently buying and holding and am getting deals through the MLS. I have opened up to welcome deals from wholesalers as well but have not ventured into the auctions yet. The auction is what I assumed you are talking about when you say you picked up properties in the Spring. If so what was your experience during that process?
So I met this guy who said that the method that he uses is to buy in gary for like 20k and to put about 15k into it then rent it out for 900 a month. Being that gary is like you have to completely rebuild the house. How doable is this method and how easy will it be to rent out. Seems like no one wants to live in gary and its like a ghost town
@Doug Phillips Thanks! I am currently buying and holding and am getting deals through the MLS. I have opened up to welcome deals from wholesalers as well but have not ventured into the auctions yet. The auction is what I assumed you are talking about when you say you picked up properties in the Spring. If so what was your experience during that process?
So I met this guy who said that the method that he uses is to buy in gary for like 20k and to put about 15k into it then rent it out for 900 a month. Being that gary is like you have to completely rebuild the house. How doable is this method and how easy will it be to rent out. Seems like no one wants to live in gary and its like a ghost town
Hi. With prices increasing, there are less 20k deals, unless you want to do full rehabs. The method is doable depending on the house you find, but IMO 15k for a full rehab is pushing it. For those who can do it, great! A lot of people are moving into Gary, that's why rent has increased drastically recently. For us, it's almost impossible to keep a unit vacant.