Homes in Indiana selling for just $1.00?

[moparcrazy]

Has anyone heard of this? its a city program, the catch is you must renovate within one year.

https://www.msn.com/en-us/money/rea...-get-for-the-money/ss-BBS1O2w?ocid=spartandhp

 

[1967coronet440]

I haven’t and that’s only about 20 mins from me. Interesting

 

[moparcrazy]

Bo Those homes look to be really neat from the outside, you should look into this program and see if this is BS or for real !

 

[gdrill]

Sounds like they are in an area with a lack of work. However, you may be able to start the local reno company to take advantage of the requirement of one year.

 

[1967coronet440]

It’s definitely a crap town I drive through there every day. Former murder capitol of the USA. Just about everything is abandoned except gas stations and liquor stores, Like a mini Chicago neighborhood. That being said if the program is real it’s worth looking into.

 

[fbs63]

Its a real program. Been going on for years. I worked at American Bridge in the late 80s to 99 and it was going on then. There were some beautiful houses and areas in Gary when the steel mills were going strong. Bought my 70 Road Runner in Gary off 5th Ave. Now you need a wall and a personal army to be safe and keep anything you own from getting stolen.

 

[SteveSS]

Scary. I once looked into the free land claims the internet touts. One was pretty good. In the small town of Lincoln, Kansas, 3500 people. They had free home lots. Looked nice, new cul de sac, trees, near the park. If I didn't have family connections I would think about it. I think the problem boils down to the price of building a new home vs. buying an existing home, the existing home is a better value.

 

[pwDave]

I was born in Gary, St Marys hospital in 1949, different place then, dad worked at standard oil then. moved back home in 1953 to ohio county Kentucky. still remember the stench of whiting. Dave.

 

[kiwigtx]

I am sure one of those houses was renovated on an episode of HGTV....although they paid $4500 to start with....

https://www.hgtv.com/shows/good-bones/a-heroic-renovation-in-a-historic-indy-neighborhood-pictures

Maybe the city needs to move a bit more real estate and attract people back to the area. It can be done....just takes a lot of hard work.

 

[Bb70charger500]

I've seen this type of thing before. Empty crap housing doesn't bring in tax's ! My brother in-law is a slum Lord . He has about 15 houses and 2 tri plex s . He worked a deal with the city to bring more low rent property s in ,in return they sold him the needed land to build 2 more quad Plex s for a $1.00 the city has owned this land since 1983 and has done nothing but cost them money . The deal is he opens 8 rental properties up at $750 each and the must stay below $900 for 3 years ! The building s are costing him about $200,000 each as he also is getting government funding for them ! And in the end he owns everything free and clear ! To rent out or sell off as he wants !

 

[moparcrazy]

I've seen this type of thing before. Empty crap housing doesn't bring in tax's ! My brother in-law is a slum Lord . He has about 15 houses and 2 tri plex s . He worked a deal with the city to bring more low rent property s in ,in return they sold him the needed land to build 2 more quad Plex s for a $1.00 the city has owned this land since 1983 and has done nothing but cost them money . The deal is he opens 8 rental properties up at $750 each and the must stay below $900 for 3 years ! The building s are costing him about $200,000 each as he also is getting government funding for them ! And in the end he owns everything free and clear ! To rent out or sell off as he wants !

Souds like a smart guy to me?

 

[fratzog lover]

If its somewhere I need police protection 24/7, what's the point?

 

[PurpleBeeper]

Yes, Gary, Indiana is a "dicey suburb of Chicago". Once the steel mills laid off 90% of their workers or closed completely, it got bad.

WHAT HAPPENED TO THE STEEL/ALUMINUM TARRIFFS? Seriously, it hasn't helped Gary at all from what I see.

The area has strip clubs, casinos, large liquor stores & not much else. You can tell it once was an up-scale blue-collar area (+ the surrounding towns), but has fallen into disrepair since nobody has a good paying job in that area.

I believe Detroit, MI (and/or surrounding areas) has a similar program going on.

 

[Billccm]

I believe Youngstown Ohio had a similar program three, or four years ago. It would be interesting to know if it was successful.

 

[Dennis H]

Security doors almost every picture. I’ll pass.

 

[Slap Stick]

Ya don't build a steel mill overnight and you don't build where there is no workfoce or housing.

 

[1967coronet440]

Ya don't build a steel mill overnight and you don't build where there is no workfoce or housing.

The steel mill is there, been there for a long time. Pretty sure it’s up and running again, I drive past it daily and there’s lights and smoke out of the stacks.

 

[fratzog lover]

https://www.neighborhoodscout.com/in/gary/crime

 

[QuickBpBp]

$1.00 There is a reason... Location, LOCATION, LOCATION...

 

[GetX'd]

I used to be with an insurance company based in Chicago. My sales territory was South Chicago, Gary IN and a few other choice spots. I was just a young buck and they told me never to make sales calls in Gary - I was to CALL only by phone. I had to check it out so I ventured in just ONCE. Yep phone calls from then on in....... lol