i’m new to mobile home park investing and excited about getting started. What kind of challenges could I face if my go to strategy is renting to sex offenders? potentially, I could restrict it to people who have not re-offended in five years. I suppose the cities could try to come down hard on me for any code violation they could find to shut me down, I suppose there could be lawsuits. But also it could be a really profitable strategy with charging high rents to people who can’t live anywhere else very easily. I know there are other pervert parks, but not a lot of them. Any reason more people haven’t made this their go to strategy? Would you recommend a different path forward? Thank you.
I would consult an excellent attorney to discuss this with you who is very knowledgeable. You can get yourself into a heap of trouble quickly if you take the wrong approach here.
You may have difficulty selling a property like this in the future. You will also be dealing with threats from locals potentially and/or issues with local governments. You may also find it difficult to obtain financing potentially. Obtaining insurance may or may not be a hurdle. You will at some point end up in the local headlines- especially nowadays. You will likely be spending money on an attorney more than you normally would or should as long as you own the property. You will likely have to contend with the issue of “discrimination” as well if you need to evict.
Personally, I wouldn’t go down this road if it’s your first deal.
Tread lightly and seek proper legal advice if you’re going to go down this path.
I’m not sure the juice is worth the squeeze for a couple extra bucks IMO.
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You’ll definitely have an uphill battle with any neighbors and local government.
The demand may not be great also. If you have a park in mind you can do a local search to see what registered offenders are in the area. It’ll be a relatively small amount of the overall population and know most of them may not be looking for housing. You alienate a lot of other potential customers that will no longer want to live there.
If you were to cater to just sexual offenders I would make sure it’s closer to the outskirts of the community because it will help protect the children in the community it’ll also be a way to help local police to keep track of the offenders and it’s usually pretty hard for sexual offenders to find housing so you will not have a high turnover rate. Yes there’s going to be a lot of negativity from it because of the stigma that is attached to sexual offenders but long term it would be a lucrative thing that will be good in helping sex offenders find housing that is outside the confines of the community keeping the community a lot safer.
there was park in florida years ago that the lady did this exclusively
Careful focus like that narrows your market and creates friction with both community and government