Investing in Indiana

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Investing in Indiana

Tiffany Archer
Realtor · NJ · Member since 2019 · 8 posts · 1 vote

Hi BP Family, 

I'm interested in investing in Indiana. Areas are Gary, East Chicago, Merrillville, Crownpoint, Lake Station, Hobart, Schererville. Any suggestions on the best place to start as a new investor? I live in NJ.

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Adrien C.
Property Manager · Griffith, IN · Member since 2015 · 1k+ posts · 913 votes
6y

@Soh Tanaka @Tiffany Archer I’m not buying Gary turning around anytime soon. They have over 12000 house on their demo list. The casino isn’t turning around a city of 80k people. The government has a history of being corrupt. The Gary turnkey providers have a history of selling overpriced houses with garbage rehabs. The numbers look great on paper until you do a drove by and see the area. It’s appealing because the entry point is low but the appreciation numbers they are promising are very very optimistic. If you buy there, prepare to sit on it a long time. There are better options in NW Indiana at this point in time for the average out of state investor. 

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  • Soh Tanaka
    Property Manager · Lindenhurst, IL · Member since 2016 · 854 posts · 506 votes
    6y

    In terms of the cash flow, North West Indiana (NWI) is a pretty good place to invest. I would suggest to connect with someone who does a lot of real estate investment in the area. I know @Sharad M., @Adrien C., @Account Closed and @Tom Olson all do business there. I only worked with Tom Olson, so I can't speak about other people, but Tom and his group is awesome. If you want to know more, feel free to PM me. Best wishes! 

    2Reply
  • Adrien C.
    Property Manager · Griffith, IN · Member since 2015 · 1k+ posts · 913 votes
    6y

    I'd be happy to discuss your goals and helping you find an area that meets those goals. All those cities are very different and have pros and cons for each. I've either owned rentals or done flips in each of those cities. 

    0Reply
  • Tiffany Archer
    OP
    Realtor · NJ · Member since 2019 · 8 posts · 1 vote
    6y

    Thanks guys for the info. I saw there were a lot of properties in Gary indiana, so that looked interesting. Any feedback for Gary Indiana?

    0Reply
  • Alan Dunlap
    Rental Property Investor · Chicago, IL · Member since 2018 · 89 posts · 77 votes
    6y

    @Tiffany Archer

    Gary = block by block. Depending on type /location of property may not by easy to manage out of state versus someone who’s local.

    Hammond is bigger than the cities you mentioned , has more inventory BUT it kind of operates like a big city. Some areas better than others, property taxes can be higher, inspectors can be a pain etc.

    2Reply
  • Soh Tanaka
    Property Manager · Lindenhurst, IL · Member since 2016 · 854 posts · 506 votes
    6y

    @Tiffany Archer - Another thing about Gary is that it is supposedly turning around. A new Hard Lock Casino will start operating later this year (or early next year,) the city is demolishing a lot of boarded up houses (but still have a lot to go,) price of the houses are going up for some areas and so on. To be honest, I don't know how it looked in the past, so I can't compare. That said, if you are going to buy properties in Gary, I would suggest to hire a property manager than to self-manage from distance. There are some several good property management companies that manages in Gary. Also, make sure that the cash from is good as that is the point of buying in Gary.

    1Reply
  • Tiffany Archer
    OP
    Realtor · NJ · Member since 2019 · 8 posts · 1 vote
    6y

    @Soh Tanaka thanks so much for the info!

    0Reply
  • Adrien C.
    Property Manager · Griffith, IN · Member since 2015 · 1k+ posts · 913 votes
    6y

    @Soh Tanaka @Tiffany Archer I’m not buying Gary turning around anytime soon. They have over 12000 house on their demo list. The casino isn’t turning around a city of 80k people. The government has a history of being corrupt. The Gary turnkey providers have a history of selling overpriced houses with garbage rehabs. The numbers look great on paper until you do a drove by and see the area. It’s appealing because the entry point is low but the appreciation numbers they are promising are very very optimistic. If you buy there, prepare to sit on it a long time. There are better options in NW Indiana at this point in time for the average out of state investor. 

    3Reply
  • Quincy Lockett
    South Holland, IL · Member since 2017 · 376 posts · 432 votes
    6y

    @Tiffany Archer

    I would not do Gary unless you are directly managing the properties and have the specialized skill of managing in D areas. Those prices are like that for a reason. The difficulty in consistently getting your rent is baked in. I work in East Chicago and it’s not much different from Gary in investment grade (you couldn’t gift me those properties). The other cities are great for investment but you’ll still need competent management on the ground. Northwest Indiana is a great area to invest!

    0Reply
  • Tiffany Archer
    OP
    Realtor · NJ · Member since 2019 · 8 posts · 1 vote
    6y

    What areas in Northwest Indiana would you recommend?

    0Reply
  • Adrien C.
    Property Manager · Griffith, IN · Member since 2015 · 1k+ posts · 913 votes
    6y

    @Tiffany Archer it depends on your goals, risk tolerance, and experience. 

    1Reply
  • Quincy Lockett
    South Holland, IL · Member since 2017 · 376 posts · 432 votes
    6y

    @Tiffany Archer

    In order of my preference:

    1) Munster

    2) Highland

    3) Merrillville

    4) Portage/Chesterton

    5) Hammond/Griffith

    0Reply
  • Nicholas Smith
    Real Estate Broker · Northwest Indiana and Chicago, IL · Member since 2016 · 86 posts · 33 votes
    6y

    Hi @Tiffany Archer!  I'm a realtor and investor in NWI.  Different areas are better for different objectives.  Some areas are better for flips and some are better for cash flow.  So your ultimate goals play a big factor in what areas you want to invest in.  I'm going to PM you. 

    0Reply
  • Cory Stidha
    Member since 2020 · 6 posts · 2 votes
    6y

    I am going to be a new investor in the NWI area and down toward INDY. I am looking to meet new people, investors etc. If anyone has any tips or would like to connect I would be really interested in hearing from you. I am currently deployed so looking to use the money I saved to invest when I get back. Any help would be much appreciated! Thanks!

    0Reply
  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    6y

    I would look into Fort Wayne. It's not the region but you're going to see a lot more potential in my opinion.   

    0Reply
  • Zhajake Henderson
    Member since 2020 · 1 post · 0 votes
    6y

    @Nicholas Smith Would you mind PM me? I’m interested as well.

    0Reply
  • Kurtis R.
    Member since 2020 · 4 posts · 0 votes
    5y

    Hello - I’m looking to invest in the NWI area in multi family. Looking for properties that cash flow and would really appreciate any recommendations/advice on where to look.
    Also looking for a property manager. thanks BP community!

    0Reply
  • Adrien C.
    Property Manager · Griffith, IN · Member since 2015 · 1k+ posts · 913 votes
    5y
    Originally posted by @Kurtis R.:

    Hello - I’m looking to invest in the NWI area in multi family. Looking for properties that cash flow and would really appreciate any recommendations/advice on where to look.
    Also looking for a property manager. thanks BP community!

    great place to invest! 

    1Reply
  • Kurtis R.
    Member since 2020 · 4 posts · 0 votes
    5y

    Any neighborhoods you would recommend considering? I’ve been reading that East Chicago is not ideal even though the prices are attractive. 

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

    @Tiffany Archer - You should definitely start by linking up with @Eudith Vacio.  I know she has done some investing personally in Indiana and also with other investors.

    She's also worked with out-of-state investors so I think you guys might be a great fit!

    [email protected]
    Quality Builders4.966 Reviews
    WebsiteView Page
    0Reply
  • Ivan Avila
    Specialist · Austin, TX · Member since 2018 · 14 posts · 6 votes
    5y
    Originally posted by @Nicholas Smith:

    Hi @Tiffany Archer!  I'm a realtor and investor in NWI.  Different areas are better for different objectives.  Some areas are better for flips and some are better for cash flow.  So your ultimate goals play a big factor in what areas you want to invest in.  I'm going to PM you. 

    Hey Nicholas, I'm an OOS agent/investor from California originally from Chicago. I'm looking to purchase SFR's for cash flow (via BRRRR) and multi units in NW/N Indiana. From the research I've done, it seems like NW Indiana is the better option for cash flow compared to most areas in Chicagoland. Would love to connect more with you!

    1Reply
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