Gary Indiana Current Market

8 Replies

All,

I am an out of state investor with a lot of opportunities in Gary. I wanted to inquire to those who are local to get an idea how the market is in Gary. Specifically for Buy and Hold, Fix and Flip or Owner financed properties.

Thanks

Hi Chris,

I'm also an out-of-state investor with buy and hold properties in Lake County. Nothing in Gary though.  What did you mean by "with a lot of opportunities in Gary"?

Amy

@Chris Seveney , I live not too far away from Gary Indiana and can say that it's a very poverished town. Alot of vacant properties and run down streets. You might have opportunities there because many choose to not live there because it's that bad. I wouldn't buy any property here and I'm local, just saying!!!!

@Amy Greger - I am a note investor (buy mortgages) and I currently have approx. 60 opportunities in Gary to buy the mortgage from a bank or hedge fund. With notes I try and get the borrower repaying on a new payment plan, or in worst case foreclose. 

@Brian Woods Thanks for the info. 

@Chris Seveney , Hammond is much better. The area is mixed but not a war zone as Gary is. 

I have properties in Whiting and Hammond.  Solid blue collar neighborhoods.  In the process of buying our first property in East Chicago - which apparently has "pockets" of war zones but also pockets that are not bad. Great cash flow properties.

Gary sucks. I know plenty with rentals there and they make $$$ but no appreciation and a particular type of tenants. It's street by street. 

Hammond is night and day different. 

E Chicago is in the middle with good pockets. The city is working hard to make it better and I can see hope there. Not in Gary. 

@Chris Seveney do you still have access to the leads in Gary, IN? I have an investor that has a lot of Buy & Hold properties there and is familiar with the market there looking for more.

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