Sigh...Just bought in a bad area

Just a question Strannik, having viewed your advertising link. With winter on its way, does the chlorine/swimming pool business become quiet? Just curious.......is it busier in summer or winter?

in Australia busy period is from about mid-October till mid-April and winter is almost dead

overseas - the opposite
 
I've got a real nice house for sale, anyone wanna buy it? Willing to let it go for a killer price.

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Older real estate agents keep telling us our street is the worst in town with the cheapest houses in town and noone would want to live there.

I finally found out why - there used to be a sawmill at the end of the street and the trucks went down our street to get there, all day. That was a loooong time ago though, the sawmill long since moved to the edge of town and now there's a vacant lot where the council keeps a few skips for recycling paper.

Trying to tell any of the older locals that we actually live on one of the quietest streets in town ... well, that falls flat.
 
A gang came round to the street to revenge on some kid and it ended up being a racial war between 2 groups; obviously the attacked had to protect its own and retaliation escalated.

It hasnt affected the whole area, apparently it only affected the street.
I know the street you are talking about. Did you buy in that street, or in the suburb. There is a good and bad side to the suburb. You could look up the crime statistics on the suburb. i have heard the troublesome families were removed for there own safety. Also heard there is sometimes still some tension, but not as bad as the incident you mentioned.
 
A gang came round to the street to revenge on some kid and it ended up being a racial war between 2 groups; obviously the attacked had to protect its own and retaliation escalated.

It hasnt affected the whole area, apparently it only affected the street.

sounds like this one? .. i thought they'd been sorted out so wonder how it could still have an impact on the street.

http://www.theage.com.au/victoria/police-swoop-on-home-in-wild-west-20100701-zqlk.html

http://www.theage.com.au/victoria/gun-emptied-in-shooting-by-rival-20110330-1cghf.html
 
So I just found out that area i've bought my IP in is dubbed a bad area because of an incident that happened about 4 yrs ago...on the same street I've put all that money into.

I didn't believe what i was being told until I consulted my good ol buddy Google.

Now it could be that its coz of the media hype that its been dubbed a 'Grey Area', but whenever we went for inspection, it seemed like a quiet area.

Woe is us, dont know what to do. Is this one of those mistakes you make as first time property investor and you get to learn from? Wish I had done more research.

Funny how the real estate agent "forgot" to mention this while wooing us to buy the place.

My SIL bought in a really bad area called "The Pines" in Franganistan back in 03. Annie Lumen will know it.

She paid $92k, and is now selling the backyard for about $100k profit, and will keep the original house.

Yeah; real bad. :D
 
So I just found out that area i've bought my IP in is dubbed a bad area because of an incident that happened about 4 yrs ago...on the same street I've put all that money into.

I just noticed you wrote in the same street. Does the street start with "G"? If it is the same place I'm thinking of Your Investment Property magazine recommended it as an undervalued suburb to invest in. There's a lot of good people in the suburb, as well as some rough ones. I wouldn't worry too much. Make sure you have good Landlord insurance and a good PM.
 
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