Gary In , East Chicago In

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Scott Steffek
Flipper/Rehabber · Crown Point, IN · Member since 2009 · 482 posts · 216 votes
8y

Mary Jay,

I started flipping houses in  Gary, many years ago. To make a long story short, I wouldn't invest in Gary unless you're a "tough as nails" investor. There's money to be made there, but you better have one of the best property managers in the state working for you!  As Eric Meyer pointed out, East Chicago is a decent place to invest. I have investors that have bought quite a few multi units from me out there, and they're satisfied. However, it's like any other city. It does have a few undesirable blocks and you just need to stay away from those. If you'd like more information, feel free to PM me. Best of luck to you.

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  • Eric Meyer
    Real Estate Broker · Saint John, IN · Member since 2017 · 28 posts · 12 votes
    8y
    I’ve lived in Northwest Indiana my whole life. Gary is and has a high rate of crime. Had the nickname: Murder Capital. Now this doesn’t stop investors. There is money to be made, but personally I’m not interested. Now East Chicago gets a bad rap but I have a duplex there, with out any problems. I know other investors dealing in East Chicago also. I personally don’t mind investing there. The city is investor friendly. With all that said, there is crime and gang activity, and there are better and worse areas there also. Hope I didn’t scare you, just being honest. Good luck.
    3Reply
  • Scott Steffek
    Flipper/Rehabber · Crown Point, IN · Member since 2009 · 482 posts · 216 votes
    8y

    Mary Jay,

    I started flipping houses in  Gary, many years ago. To make a long story short, I wouldn't invest in Gary unless you're a "tough as nails" investor. There's money to be made there, but you better have one of the best property managers in the state working for you!  As Eric Meyer pointed out, East Chicago is a decent place to invest. I have investors that have bought quite a few multi units from me out there, and they're satisfied. However, it's like any other city. It does have a few undesirable blocks and you just need to stay away from those. If you'd like more information, feel free to PM me. Best of luck to you.

    2Reply
  • Mary Jay
    OP
    Glendale, AZ · Member since 2017 · 1k+ posts · 236 votes
    8y

    Thank you guys so, so, so much!

    0Reply
  • Ryan FlanaganPro Member
    Accountant · Naperville, IL · Member since 2020 · 39 posts · 24 votes
    5y

    I've been really interested in East Chicago.  I'd really like to hear opinions about where the best parts to invest are. 

    0Reply
  • Scott T.
    Chicago, IL · Member since 2020 · 11 posts · 4 votes
    5y
    Originally posted by @Ryan Flanagan:

    I've been really interested in East Chicago.  I'd really like to hear opinions about where the best parts to invest are. 

    I'd connect with @Adrien C. or @Jarrod Stotmeister Both of these guys invest in NWI.

    0Reply
  • Ronnie Johnson
    Investor · Northwest Indiana · Member since 2020 · 2 posts · 0 votes
    5y

    I grew up in the area (Crown Point, IN). I currently live in Denver, CO but invest in the NWI. Just purchased my first East Chicago property 10 months ago. I was blown away at the recent development and changes in the city. One thing Ive realized is that you need a great local contact or some time to get boots on the ground. Re-dev and changes in the city is happening in pockets. You can find strong deals all over though. 

    0Reply
  • Aaron ZimmermanBusiness Member
    Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
    5y

    I'd connect with @Eudith Vacio as she invests there. She's also a very knowledgable realtor as well. 

    [email protected]
    Brick House CPAs53 Reviews
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  • Ryan FlanaganPro Member
    Accountant · Naperville, IL · Member since 2020 · 39 posts · 24 votes
    5y

    @Ronny Johnson - I have also been very surprised how much EC/Hammond/Gary area has changed! Definitely agree there are deals to be had.

    I just picked up a duplex in EC near the Hammond border and am planning on picking another duplex in the Harbor area shortly. I also just picked up a SFH in the downtown Miller/Aetna area of Gary. The cash flow in EC is there and I really think the demand in Hammond will spread to East Chicago soon enough leading to some appreciation as well. I have had a place in Miller near the beach since '14 that I converted into an Airbnb in '19 and its been crazy busy. I'm optimistic about this area too.

    0Reply
  • Jonathan KlemmBusiness Member
    Moderator
    Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
    5y

    @Mary Jay - I personally don't invest there mainly because it's just so far away from where I am at on the northside.  However, I would 2nd @Aaron Zimmerman and recommend talking with @Eudith Vacio I know she has definitely done some investing in East Chicago.

    What has you drawn to that area, anything specifically?

    I have been down there a couple of times and it does seem a bit run down, however, I know the cash flow is great if you are willing to deal with the tenant pool that is there.

    [email protected]
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