Man uses retirement investments to house homeless veterans
INDIANAPOLIS, Ind. (WXIN) – A local man is using his retirement fund in a unique way. He's taking the investment and buying properties to house homeless veterans.
The move has allowed John Gremling to grow his retirement fund while also giving back to those in need. Now, 23 veterans have a stable place to live.
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"We use a self-directed IRA as an entity to own the properties so it's not only an investment for me but it's also an investment in the people that we house," Gremling said.
John takes money from the self-directed IRA that allows him to buy property instead of just stocks and bonds. But he didn't just want to rent out the apartments for the sake of making money. He wanted to make an impact, so he contacted local veteran agencies to put homeless vets in the homes.
Lannette Hatcher had been homeless for 10 years.
"It had always been me and my children in and out of homeless shelters and stuff like that but I never had to live by myself so I was scared of living by myself," Hatcher said.
The U.S. Navy veteran now says she wouldn't have it any other way. She's now working and the Hoosier Veterans Assistance Program helped her make the transition.
"This is my space inside and outside this is my space and I love having my own place," Hatcher said.