buying IP near a regional gaol(jail)?

Hi all,

Has anyone bought an IP near a regional gaol? If so, how is it?

Is there a demand for rentals near to such facilities because of families wanting to move close by? I understand that these people may be in a lower demographic then most of us but they are also the ones that tend to rent and probably, also the ones who may want to toe the line.

Is there logic in the above?


Thanks


g
 
I cant speak for all towns with jails but i frequent goulburn and i believe the questionable characters associated with the inmates have no real effect on the town.So in that respect i would say no affect.

Now the town i live in( Nowra) is currently building a jail. There was a big stink at first about it but its to the south of the town off the main roads and is only visibal by air. A big plus is its keeping many locals employed through this GFC. And an even bigger plus is its adding pressure to the already tight rental market during its construction and this is expected to continue as employees move in.

Would i want to live next to it. Hell no. Does it bother me now. Not at all.As i said with goulburn . When prisoners are released they sure as hell dont hang around the town. There off. This could be said for there visitors also.I think the good points outway the bad. As long as its not a visibal feature of the town.

I forgot to add. I have driven past the carpark to goulburn jail many times during visiting ours.And judging by the top end cars they drive.If anything they will bring money. Money from questionable activities maybe. But still money. Thats my observation anyway.
 
I'm thinking that the prisoner's families, if they also move to the town, are there for known periods of time, and probably won't be the ones who will be skipping out.

Plus, as long as the jail is there, then you may have a good constant rotation of tenants coming through (on the assumption that families move to be close to the jail).

The properties surrounding the jails won;t be in the high end of the market, and may be relatively cheap - and possibly easy to be positive geared.

Just a theory anyway i had over a bottle of wine and watching a move last night.


Thanks

g
 
I don't think the bulk of your tenants would be prisoner's families, actually. Your loved one would have to be immediate family and in for a good few years for you to relocate to the prison town IMO. Depending on how you pitched the property, I suspect your tenants would more likely be:

- Corrections officers
- Psychologists
- Social workers
- Medical
- Adult educators
- Cooks
- Cleaners
- Admin
- IT/technical
- Drug & alcohol counsellors

I suppose where I would be wary is not having the jail in town, but having the jail as the only industry in town.
 
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