I wonder if anyone can help me, I bought a house in Gagebrook TAS
An area that has got high crimes rate and troubles, and it’s an ex-housing commission area, right after settlement I had eight broken windows caused by teenages in the neighborhood.
The house got broken into last month, backyard gate was collapsed, costed me $1000 to replace.
I think i have got myself into serious trouble, bought the house for 120K currently tenanted for 165 pw… paying interest only
What should I do with this one?
[glum2]
daveHi dave
I think you know!
celeste
Hi Dave,
I would be interested to know how things turned out for you with this property?
Thanks,
OllieInstall security cameras & get a good insurance policy covering malicious damage.
Good luck
I agree with Scott…
Even properties in Mt Druitt, which is a pretty rough part of Sydney, go fairly well with a good insurance policy behind them. Never underinsure!
$120k is cheap, even for shitty old gagebrook
The brighter side of it all is that you were lucky it wasn't burnt out as thats the going thing there atm It is a slum area but it has a new shopping centre and soon to be school (that got burnt down too ha….) and some of the kids are growing up nowdays, only time will tell.
The brighter side of it all is that you were lucky it wasn't burnt out as thats the going thing there atm 
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