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Updated almost 8 years ago, 02/25/2017

User Stats

142
Posts
52
Votes
Tyler Mutch
  • Contractor
  • Milwaukee, WI
52
Votes |
142
Posts

SFR was broken into, how should we handle things moving forward?

Tyler Mutch
  • Contractor
  • Milwaukee, WI
Posted

Hello,

I have chosen to invest in Milwaukee, Wisconsin area, and I am not surprised that the rental was broken into. Let me clarify, it is not my rental it is my fathers rental that was broken into. I learned about real estate about 4 months ago now, and he has been involved a lot longer, although generally through our primary residence, he has made a profit on each of the houses. Right before I entered the realm of real estate. He decided he was going to invest in buy and hold properties. Needless to say he bought a property in a higher crime area because when he traveled through that area he felt safe. I have since checked the crime area it is an orange to red crime area, that is why I say I am not surprised. Also, being the first rental property we foolishly neglected to install a security system in that neighborhood. So, my question is about the next step, do we simply take this as a lesson going forward and install a security system, or should we sell the house? ( I think we could make about 7k profit if we sold the property currently). 

Thank you in advance for any input/advice anyone may provide. 

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