Home buying thread
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TheBeagle
JunkiesNetwork Donor
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There are more new RV lots around my neck of the woods than new neighborhoods. $500+/ month for a spot on all the ones Ive seen. Those things are going up everywhere with so many people getting priced out of owning or even renting a home.
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This is the foreseeable future for new home owners. Trouble is, when the market tanks heir trailers won’t be worth anything. People are putting tiny homes in these lots, that’s probably more sustainable.
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TheBeagle
JunkiesNetwork Donor
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Cant look at an RV as an investment like you do real estate. Just think of it as, Hey, when we finally get a real home we'll have an RV to enjoy travelling with. I have my house already, got it before rates went up, but am looking at campers right now. Not only for traveling, which I want to do more of, but its a nice back up for when/if shit hits the fan.
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reavor
I'm With HER ♀
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People saying homes are unafforable and prices are way too high, yet home prices are stagnant/dropping compared to a few years ago.
TJT
Mr. Poopybutthole
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Jysin
Bronze Baronet of the Realm
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Home prices are the problem because it also is directly correlated with property taxes and insurance. Lowering rates helps a touch, but overpaying on house price locks you in to high taxes and insurance for life.
All of these pressures need to be factored into the affordability equation.
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Sanrith Descartes
I was forced to self-deport from the /pol thread
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I have a client with an RV park they own. Its a very low six figure net profit each year.
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From what I have seen which is very little there is a huge variability in trailer parks. Some look like pure trash where people live very short term and a fair number of the trailers may be 40 years old or whatever. Then some are very nice, spaced out, manicured, have newer more modern trailers that look like they get more long term usage. Not sure how they separate the two or attract the group they want.
In college I knew a few people that lived in one and it was semi safe but obviously had a lot of people moving in and out often. It wasn't great, but it wasn't pure trash either. I don't know what they paid and I visited a friend that lived in one once, it was "okay". At the time I lived in a duplex made from an older house in town on an acre that cost $250/month so guessing they paid less 30 years ago.
In college I knew a few people that lived in one and it was semi safe but obviously had a lot of people moving in and out often. It wasn't great, but it wasn't pure trash either. I don't know what they paid and I visited a friend that lived in one once, it was "okay". At the time I lived in a duplex made from an older house in town on an acre that cost $250/month so guessing they paid less 30 years ago.
Daidraco
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Just depends on how much money the owner invests/spends on the "park", and how the contract is binding for those in it. I generally own almost all the trailers in mine, with my oldest trailer dating back to '92. Which doesnt seem that old, but bro... ha! I finance the move for trailers to and from, if theyre "worth it" - and between that, the fees, the interest, etc. - most trailers end up being mine "when" they default. I charge between 300-500 a month just for lot rent depending on location/lot size. Trailers rent for 800-1200. Im picky over my clientele and generally try to find the stereotypical "Grandma that drives a Camaro, smokes cigarettes and gambles at the casino as her vacation" type of person. Go ahead and put your gnomes in the yard lady, I dont care.
The plumbing, electrical, road upkeep, yard upkeep, etc. is all handled through my own property management company. So its manicured so to speak. Those trailer parks that put the responsibility on the tenant are trying to save a dollar, but its costing them a higher money opportunity later on. Management is everything.
Trailers are easy to repair/remodel, too. Most of your parks are grandfathered in and are against the "rules" of the county/city, now. So thats why theyre worth so much money if you're curious.
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Sanrith Descartes
I was forced to self-deport from the /pol thread
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Just to clarify, there is a difference between mobile home parks and RV parks. I was surprised by how many people live full time in an RV until I moved to this neck of the woods.
Sheriff Cad
scientia potentia est
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Do you have a thread anywhere talking about your trailer park business?
How did you manage to get started in that? Like what made you go "ya know, I should buy and operate trailer parks" ?
Control
Golden Baronet of the Realm
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I think a lot of the nicer places have age limits on the residents, 50+ and no kids or something like that, basically little retirement communities. Wife's aunt and uncle took and rv trip around the country staying at places for a couple months at a time. The one they were at near us was a nice place, mix of trailers and rvs, some long term and a lot of seasonal rv'ers. They had community buildings/activities and a tiny golf course on the perimeter. Definitely not what comes to mind when you think "trailer park". I think they also limited the age of the rv's and tow vehicles to keep junkers out. I forget the number, but I was surprised at how recent it was, so they were definitely going for the "retired, sold my house and bought a camper" crowd instead of the "I can't afford a house" crowd.
Daidraco
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The previous owner ran it into the ground and was selling it for basically the value of the land that it sat on. The pipeline was getting ready to come through here at the time and I thought it would be a perfect opportunity, to be blunt, extort the people that are working on it with high rent / short term places. Im lucky in the regard that the bank would only give a loan on the value of the land - which just so happened to be what it was being sold for. Since Im already in property management, the unlawful detainers, writs of eviction, liens, etc. I already knew about from a residential and commercial standpoint. As much as I hate to say it this way, after the inventors were removed and standards were put in place for new tenants - the park almost instantly came out of the red.
I dont see it as special enough to warrant a thread about it. I think the shit you guys talk about in the Investment thread is much more informative / worth the time to learn about.