« First « Previous Comments 67 - 70 of 70 Search these comments
Patrick says
You know, buying up trailer parks in one area like that is illegal
Is it really?
It's good but there are two dangers in conversion over the long haul:
Old People on fixed incomes hate spending one more nickel, even on essential things, like the pillars cracking (see Sunnyside) or new security cameras.
Young people inherit, and they're methhead/potheads and almost impossible to evict. This is a BIG problem in RV parks where the lots were sold.
The rest of the family is THANKFUL to get rid of Cousin Fuckup or Uncle Barney, they will happily collect a few thousand bucks to defend him in court in order to keep him out of THEIR basement.
He's been coached by the Local Libby Civil Rights Groups "These are My Guests", so you are stuck with him.
Would be great if there was a law to drug test inheritors or better yet require 7 years without a felony to live Association Communities, denying them permission to reside there. Uncle Barney can still sell it or rent it.
« First « Previous Comments 67 - 70 of 70 Search these comments
I just don't get it.
Your Mobile Home is going to run on average maybe $50k, that's an average of decent new ones vs. older ones.
So you're looking at around $500/month financing. Then you pay lot rent of $700-800. Total of $1300, say.
Plus you still have to do maintenance of mobile homes, they get roof leaks and window leaks and clogged vents like any house.
For $1300 you can rent a 2-bedroom house/apt in most parts of the country where trailer parks are to be found, like Northern Florida. Or pay the mortgage on an older but decent house, and not only own the house but the underlying property, eventually. With "Lot Rent" you only own the depreciating mobile home asset.
Hell, for $1300 you can finance both the underlying piece of land AND the mobile home in most rural/outer suburban areas where most trailer parks are located anyway.