Posted by Tom on November 08, 2000 at 18:48:05:
what type of group home? Sex offenders, teenagers, retarded folks, elderly? It makes a difference. If it’s a group of elderly it won’t matter. If it a group of sex offenders it will matter a lot.
Group Home Next Door - Posted by Marbs
Posted by Marbs on November 08, 2000 at 08:53:54:
Hi all,
I’m considering a residential property (for either an assignment of contract or rehab and flipping) that has a group home next door, but I’m not sure if the presence of the group home will make it difficult to flip (by either method). The owner has told me that there have been no problems with the residents, and she has lived there for the past eight years. (I’ll check police records before making an offer.) The neighborhood is excellent – safe, good community, good schools, stable property values. Has anyone dealt with this? Is the group home a deal-killer, or should I just factor it into my offer? Any advice, for or against pursuing this deal, would be appreciated. Thanks!
Re: Group Home Next Door - Posted by dewCO
Posted by dewCO on November 08, 2000 at 23:34:04:
Ask the other NEIGHBORS how its been. To some any kind of a group home will be a negative. Definitely need to factor that in.