7 MASSIVE LIES About Manufactured (Mobile) Homes AFFORDABLE HOUSING!
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- Опубликовано: 4 май 2024
- When purchasing a manufactured home, or a mobile home you need to do a lot of your research upfront. It will make a huge difference in finding the hidden gem and your long-term happiness. Be sure to work with the right real estate agent that understands the manufactured home buying process inside and out. Also, working with your best lender options, that can finance the mobile home that will fit your budget is super important.
Be sure you understand all the laws and restrictions to where your manufactured home will be placed before signing. There are many steps involved to your can avoid the pitfalls that are common. And in this video, I show you the things that you must know before purchasing a manufactured home. Manufactured homes come in many forms.
A manufactured home, also known as a mobile home or what some old schoolers call a trailer home, is a prefabricated structure built in a factory and then transported to a site where it is placed on a foundation. Modular and manufactured homes are prefabricated structures, meaning they are partially or fully constructed in an off-site factory. The primary difference between modular and manufactured homes is that modular homes are held to the same local, state, and regional building codes required for on-site homes.
Many entry-level models can provide affordable housing for many Americans. Approximately 20 million Americans live in mobile homes which is about 5.6% of the United States Population. Experts say that modular construction is efficient and ideal for a variety of housing options.
This is what you need to know so you can find your own affordable home and avoid the pitfalls that are costly.
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#modularhomes #mobilehomes #manufacturedhomes
Brought to you by:
Jerry Pinkas Real Estate Experts
604 N 27th Ave
Myrtle Beach, SC 29577
843-839-9870
🟢 Start Here! - www.HomeGuideMyrtleBeach.com
Disclaimer: All information given in my videos is meant to be educational. This video is not intended to replace your research, nor to provide legal, investment, or financial advice. For legal advice consult a lawyer.
✳ 13 Affordable Home Lies!…NEVER Buy A Cheap House Without Knowing This! - ruclips.net/video/QOtWLc0oCeY/видео.html
✳ Absolutely NEVER Buy This Type Of Home - ruclips.net/video/kui6J6oBIT4/видео.html
Thank you, Sir, for this information. My Mom is needing to move out of her apartment for 10-14 days for renovation. When she moves back in, the Rent will be over $1200. Plus, she has to pay for the moving and storage herself.
The Family is discussing getting a home and we will move in with her. One of the young members recommended a Modular home. Things have to be taken into consideration: Lives in KY - Flood Zones - Sink holes - Taxes, to name a few.
Thank you for info!!! 😉🤗😉
I swore that I would NEVER buy manufactured home, and guess what, I did. I own 1 1/4 acres in the Poconos, My real-estate taxes are based on "unimproved" land. In other words, my 1000 SQ FT manufactured home is not considered a permeant structure and my taxes are for land only.
$217.00 a YEAR for real-estate taxes, $333.00 for school tax and since I live on a private road, there is road maintenance, plowing etc. which comes out to about $495.00 A YEAR. So, for just a little over a thousand a year, I have a home. I do not have a mortgage either I paid cash for it and my water is well water. The only bills I get is an electric bill and $50 bucks for T mobile 5G internet. My heat is wood stove which I have an endless supply of free firewood. 😊
Dont buy unless you own the land beneath you!!!
Ultimately...that is the best way to buy if you can afford to. Thanks for watching and taking the time to comment!
I have looked and found that the inexpensive beautiful manufactured homes are in neighborhoods with a steep monthly HOA fee and rent, that are guaranteed to skyrocket as times continue to deteriorate. That's why they are relatively inexpensive. OTOH, the ones going for $100k+ are on their own land and in nice neighborhoods, with no HOA or very inexpensive HOAs. Just like jobs today, no job or home is beneath one's dignity.
Exactly!!
@@Miami7 Thanks for watching and sharing!
@@350BMW09 Thanks for watching
It’s a tragic situation what is happening to the mobile home communities. I have considered downsizing to a mobile home but changed my mind because of this. It’s a crime these greedy investors and corporations can’t be satisfied pricing out the middle class of basic housing, now they have to gouge the poor and senior citizens who can least afford it. This bs has to stop.
Thanks for watching and taking the time to comment
What Middle Class?
Before Biden I could afford my beautiful home. Now hardly anyone can afford one. It is way easier living in a manufactured home that is all YOURS along with the land it sits on, than forking out $2,000 every single month to rent an apartment. Our country is being gouged by this regime. They want to get rid of the old and wise folks so that they can control the young and dumbed down ones. He wasn't happy taking away our energy. Now he is after every appliance that relies on natural gas, which is a clean form of energy. How does he think the grid will support millions electric cars and homes, with landscapes full of windmills and solar panels?
Well, the CEO of these big companies need to afford their McMansion and 1 or more vacation homes.
Somebody's gotta do Coke off strippers asses while driving a cigarette boat to the keys.
Bought a double wide manufactured home on a large crawl space, well, septic, 1 acre across the street from a corn field. Absolutely beautiful and peaceful. Our first home in our mid 20s only 115k mortgage of 750 a month. I must say, as a young married couple we feel as if we are winning, even on a 30 year mortgage, we are catching up financially so much quicker than a 1k rent apartment. (That’s just the rent 😂) we feel like we are finally getting ahead to move forward in our next step in life, and that’s if we even wana sell this peaceful place!
Why didn’t you save the necessary needed amount? Then, paying monthly payments on it?
To me, if both y’all work and saved up for 2-4 years for it. You would’ve saved yourself a lot more money then paying for a monthly mortgage tbh. That’s awesome to hear though, that y’all are catching up financially. Good stuff brother 👍
Your mortgage is $750, but does that include taxes and insurance? I owned a MH on 5 acres once. The payments on the land and home were only $325, but the taxes and insurance were another $200 a month, and utilities were insane because it was an older home with leaky windows and no insulation. Add in all the money I had to pay for maintenance and repairs and I lost money when I sold it. I will never do that again.
Do you enjoy your mobile home?? How is the sound proofing and temperature fluctuations from inclement weather? Very curious as to how mobile homes stack up against a foundation home. Thank you!!
Good for you all!!! That's my goal.
You are winning, don’t listen to any opinion other than that!
I lived in a mobile home built in 1955. Outside is aluminum, and it looks almost as good as the day it was made. Everything is made of Aluminun, doors, windows, roof, even the shower wall, etc. The oil furnace still works, stove still works, etc.
They don't make em like that anymore !
Wish I could see the inside.
My uncle had an old one back in the day....... don't know the exact age, but I remember the interior, fixtures, stove ect, so I'm thinking it was definitely the fifties.
It's long gone now.
Kudos on keeping yours up, a time capsule I'll bet. 👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻
If you can find a modular home that's never been moved more than once you'll be alright.
If it is now a "classic", and is worth more than it was when you bought it, and it is not your regular living quarters, you can consider it an investment, otherwise, no, it is just a purchase.
But what is it like in summer with all that aluminum? I'm sweating just reading!
@@imeanithonest5704 And freezing cold in the winter!
Before too much longer, tents are going to start looking like "winners."
Thanks for watching
And this is the total truth :( it’s going to get awful guys.
or amazon folding boxes , , but finding land that permits you to put it on some land will be hard to find
I have been living in my manufactured home for 21 years now. It's a triple wide and I bought it on the internet. It's 2,500 sqft on a cement slab so it's considered a permanent home. It's also on my own property, 2.5 acres of land.
@@micker9830 why is that?
Thanks for taking the time to share your story with others. Should they know about the positive aspects of a manufactured home.. Thanks for watching and commenting.
Thanks for watching
Thanks for sharing
@@micker9830 nope. It's a manufactured home. Technically, the term "mobile home" refers to those built before 1976. All those after 1976 are manufactured homes, though we still colloquially refer to them all as mobile homes
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Go with Sonya lee Mitchell. She is the licensed manager I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.
My parents downsized and moved south in the early 80's. They bought a parcel and a single-wide mobile home. I believe they were able to pay cash in full or almost in full. Since dad had been a building contractor for many years he knew what to look for. He enlarged it some, added a screened porch and 1/2 bath. It's about 40 years old now and still standing
That was forty yrs ago. "Standing" lol... so you mean, it's a rust bucket, is it livable??? It means nothing today, unless you wanted to brag about something?
@user-so9qk1nf4t it is still very livable. Matter of fact it was sold just a few years ago and is currently being lived in. Nothing to brag about. Just saying my father knew quality when he saw it and did his research.
Hi, when we moved to FL after I retired. We paid cash for the new manufactured home. VERY BAD MISTAKE!!
Every year our lot rent went up and there was nothing we could do about it. You are at the mercy of the property own.
Oh wow! Thank you so much for sharing your story with other, so they know what’s going on in some of these communities. And thank you for taking the time to watch and to comment.
Buy in a community whete you own the land
I agree! They're doing the same thing here in Washington State!
Years ago we bought a few acres of land in just outside of Seattle with a mobile on it for $150k. Today, that property is worth $400k and is a rental making great money. The last stick built home sold on our street was $750k. Don’t turn your nose up to mobiles.
I think like any property, it depends on location.
That 400k value is imaginary. It's not worth it, it will never be worth it. If you buya mobile home for 400k you are an absolute moron.
the value is in land/location...but also an affordable way for someone to buy into the location.
I'm low income & really want my own house. So I thought a manufactured home was my best bet. It was a nightmare trying to get a conventional mortgage. I found out early that parks due to possible large rent increases could also wind up being a nightmare that could cause me to loose my home. Trying to find a cheap piece of land to put it on was not cheap but very expensive. Eventually I found a stick built house I could afford & had no problem getting a conventional mortgage. It came with a 1/4 acre of land. I could not be happier. I use to be a renter & got out right as the rents began skyrocketing. Now as long as I pay my mortgage I have an affordable home where the price will stay the same & won't constantly be going up & I now have an an affordable home for the rest of my life.
Where did you find it?
Your taxes and insurance will go up. Be prepared
Yes I had a home, fell ill, could manage my mortgage but the property taxes were too much and I had to sell.
You're smart - you made a good decision. The whole mobile home thing highlights the dark side of capitalism in this country. Compared to a stick built house these things are total junk - I sold 'em briefly and I bought one and remodeled the thing. I dry walled and re-plumbed the thing and I saw how it was built - basically stapled together. The interior "walls" were 2x2's. DOH. The floors were a shitty composite material. 99-percent are in parks where a park owner can jack the rent at any time. The reality is that, for most people, these things are a horrible idea. They also don't do well in storms and they'll burn to the ground in about 15-minutes. You're also are forced to deal with iffy lenders as banks and credit unions, regular mortgage companies, etc. won't touch these things. These are the facts - this video is largely bullshit. Buying a used one and throwing it on some land, if you already have the land, is about the only time I could see buying one - as a hunting cabin or a little vacation home or something. Basically, mobile home buyers are almost universally low income and desperate - and they get taken advantage of by the people selling these things and the park owners.
Well no mobile home here. They want 850.00 lot rent outrageous
I am a senior citizen who thought I had it made when I bought a used mobile home for $10,000. My lot rent at the time was only $160. I could afford to pay for yard maintenance. I loved living there, but as time went on, utilities went up. Little did I know that my insulation was rotting away within the walls. Over ten years my lot rent doubled. By the next summer it would have increased to $480 monthly. Thank goodness I found a nice little apartment in subsidized senior housing. My social security is $1200 and I pay 616 monthly, but I don’t pay for yard maintenance and my utilities are very inexpensive. Meanwhile the trailer park did not give me a cent for my old trailer and now they are charging people $500 for demolition of trailers they can no longer afford to live in, so I missed that financial disaster by a hair. As much as I enjoyed my trailer, I am very thankful to be living in this apartment now.
Thank you so much for sharing your story with others here on this channel because you are scenario is definitely happening! Thanks for watching. I’ll see you in the next video.
You did the best thing.. I picked up some Applications and was told the waiting list for senior housing is 8-10 years 👀 I was shocked 😳 I told her I won’t be needing it then I’ll be dead 💀 by then
🤣🤣🤣🤣
Your profile pic goes so well with yor comment 🤣
I now live in an apartment. I use to live in large nice homes over the years.
I never want to have to clean or care for a nice large home again.
The cost of up keep and the headaches that go with dealing with it are not worth it.
Taxes and HOAs are not worth it either.
@@oooloo99 same here! I love my three room apartment. Someone suggested that I need a bigger place and I thought, no way, I just need less stuff. So I give away a carload of things ever so often so hopefully my children won’t be stuck with too much of a mess to dispose of someday.
I've lived in and worked on mobile homes half my life, I'm 70. The older ones were made of glue paneling and staples wrapped in a thin skin of aluminum, the roof was covered in galvanized steel, guaranteed to rust in under 20 years. The newer ones are covered in a material that should be outlawed as a building material, press board. Their garbage, the outside walls buckle and rot, termites think it's candy. The floors are made of chip board and when ya get them wet ya get big holes in your floors. The plumbing is made of plastic tubing like garden hose running through the walls. Save your money and buy an OLDER real home... Your Welcome...
I've been in New home construction and home remodeling for 26 years. I've built premanufactured homes. They are typically built much much stronger than on site built homes because they have to withstand highway travel. Premanufactured homes use higher quality materials than on site built homes such as 2x6 framing rather than 2x4 framing. You're full of crap and have not a clue what you're talking about. All homes use particle board sub-floors. You can put a premanufactured home on a cement pad if you'd like to add additional security. I constantly fix particle board sub floors in onsite built homes. Premanufactured homes are built from much higher quality materials.
How about the newer home mobile hojust curious some of them look like they're made pretty well
Thanks for taking the time to watch and to comment and share your story
Thanks for watching
Are there any that are well made?
As someone who lived in mobile homes for 21 years, I was prepared to be skeptical, but Jerry's information is solid. Great tips if looking into manufactured housing! I would add a couple more. (1) Don't buy into a "rental park." Look for mobile home communities where the residents own the park or the land. That way, no one can sell it out from under you. (2) If you're considering an older home, check out what homeowners insurance is available. If a home is too old, you sometimes can't get it insured. Thanks, Jerry, for an excellent video.
You are welcome! Thanks for taking the time to watch and share your story with others. You have the experience and it’s nice to let others know what’s really going on. I truly appreciate you taking the time to watch and comment. I’ll see you in the next video
In Canada you will never be able to afford to pay the rent now over $2,000/one bedroom ,$2,000,000 for 1,500 sq ft house
That thing about insurance is true. Very few companies will insure an older manufactured home even if it's permanent.
I agree to a point. My mobile is appraised at approx $45,000 it's a 2/2 lot rent is $975. What I noticed is comparable ones in resident owned is that the prices people want for their home is as much as 3 x what I can sell mine for. There is still monthly fees just not as high. The added price makes it harder to sell. It's a gamble that everyone in the park will agree to sell at the same time.
So what one is buying at all that extra cost is the protection that if the park sells your investment will be protected. What happens when the park doesn't sell. Selling a home that is very similar to yours at about third the price make it more appealing to a buyer, especially if they are retired.
Right. NEVER NEVER NEVER place a mobile/manufactured home you own on land you DO NOT.
I bought a 1995 mobile home in 2008 on bought land and lived there for 14 years. It's horribly expensive to cool them. I eventually had to shut all the bedroom/bathroom doors, install a window ac unit, and sleep in the living room with a bunch of fans going because I couldn't afford to cool it with the central ac unit that came with it. I had great neighbors at first, but when they moved, horrible ones moved in. That was when I realized I was essentially living in a cardboard box. They would be standing in their driveway having a normal conversation, but it sounded like they were in the same room with me. They also played loud music, set off explosive illegal fireworks, honked their horns, and were up until all hours of the night. It was as if the sounds were being sucked into my mobile home and amplified. I don't even know how that's possible, but I've never lived in a regular house that had an issue like that. I moved a year and a half ago. Never again.
Thirty yrs ago our modular homes were on rented property . When the opportunity arose to buy the land we bought it fast . So thankful we did !
I used to move mobile homes of all sizes when parks closed or brought in new rules or requirements, it was extensive and expensive. A mobile home is not really as mobile as it sounds, many have porches or external structures which must be dismantled and then you need to disconnect utilities and hope the axles and frame of the mobile is road ready which can add thousands to the move cost. Then when at the new place it all has to be reassembled and reconnected to utilities which may not be located the same, requiring adjustments, and more expense.
For anyone who anticipates moving, park models or fifth wheels are great because if a serious storm is coming you can unhook in a couple hours and leave, and if a unscrupulous land owner decides to sell or raise your lease you can just unhook and move elsewhere without all the hassle of a typical "mobile" home move.
never buy trailer unless you own land
Imagine if investors bought all the markets where you buy food and doubled the price on everything. You complain and they tell you “if you don’t like it , don’t buy our food” but there is no place else to go. That’s what’s happening with mobile home parks.
There is only one supermarket in the small town near our farm. The prices are outrageous. We can drive 50 miles to a small city and save money.
@@Oldman808 Save on petrol also ha?
I moved my parents' 1300 SQ ft lakefront mobile home from a rental slum Lord park to private land lot that they purchased for $9k. The teardown and move and reinstall was expensive, not just the few thousand that you quoted, @Jerry Pinkas. And I used a reputable mobile home installer who had been in business for 40 years. There were so many more costs on top of it such as sewer, water, electric installation on a bare lot. Tree removal. Permits and inspections. AC ducts and connection and cement pad pour. I oversaw or did the rest of the upgrades and repairs myself. We sold it shortly thereafter. Former park tried to sue us. They just never had anyone pull out their property before. Once a mobile home is moved to private land in Florida, it becomes REAL ESTATE instead of a MOTOR VEHICLE. You pay taxes on the lot and home, etc.
Same in Texas
What a great phrase. Living beneath your means. Its a way of life that had me come out of a serious medical issue with more money than I started.
Thank you so much for sharing your story and thank you so much for taking the time to watch this video. I truly appreciate you and I’ll see you in the next video.
Mobile homes have a stigma attached to them, but if you're not concerned about investment, they're not bad to live in. Many have pretty impressive floor plans with not a lot of wasted space, whereas many huge custom homes have bad floor plans with wasted space everywhere. Good video.
That is true! I’m glad you enjoyed this helpful video. Thanks for taking the time to watch and to comment.
The stigma is mainly explainable as bad-mouthing by the entire community of real estate professionals and bankers who want everyone pressured into paying half a million dollars across the rest of their lives and beyond, just for a place to live that would have cost a tenth of that much 2-3 decades ago.
They are not an investment. They depreciate like cars.
Best option: find a manufactured home already set up on a piece of property. I did this when I retired in 2017. Value has more than doubled since then. No regrets.
Thanks for taking the time to watch and to share
I worked maintenance in a major mobile home manufacturer. I can tell you horror stories.
Rural property can have water available. It is here. I bought my property, 2 beautiful acres, a stocked pond in front yard, water, septic and power already here, 10k, building a small house now. I'm living in my camper till it's finished
I'm buying as I go, when I put the last piece of trim on,,,IT'S ALL MINE!
I had a mobile home for 5 years and it doubled in price. I didn't plan it when I first moved there but with the increase I was able to sell it and buy my house with the profits. The property owner offered to sell the park to the residents which seemed like a very reasonable offer and would have helped control prices in the long term. The park residents voted against it and instead it was sold to a private equity firm that continued to increase rents and does only minimum maintenance. That vote was a bad decision and a good reason to move to my house instead.
@@sergio12151SCAMMING AGAIN FELLAS???
I'm in a Park that got sold to a predatory investment company that raises and raises the rent and puts in things they deem will help us but charges us for the install then tacks on a monthly charge and then makes us pay the rent via Website set up for them but charges us a yearly fee to maintain said rent payment website. This company has been featured several times on the states PBS CHANNEL AND how they operate and how many times lawsuits have been filled against them for illegal fees and practices but nothing ever stops them. When I can I try to view all the programs about this practice and this company and see how you go about buying the Park from them. MY Big opstical is the language barrier since Many residents speak only Spanish. Can you tell me why, what was the reason your fellow Park residents decided against purchasing the Park and can you give me any insights? I would very much appreciate it. Thank you
Don't respond to " @sergio12151" ...the bots are heavily involved here.
@@karrenpopovics2780 Yep, the $ sign after the amount and the five "grands" is a clue. REPORT this idiot.
I am curious where you are that your home doubled in price in 5 years? That just seem like a huge increase to me, but I haven't been watching the MH market either.
I worked my career in the mobile/manufactured home industry for 32 years. One reason mobile/manufactured homes survive storms better than stick-built homes is that these homes are built in the factory to survive a 5.5 earthquake (during moving down the road). I started my career in a factory...been there, done that.
Wind zone 3 sticker D has to be added for Key Largo, and an age limit
Thanks for taking the time to comment and share your story with others, so they understand the truth.
Thanks for watching and sharing
Not true in florida. while houses loose shingles during hurricane event the manu home looses entire roof. the manu home community close to my condo which have newer homes was totally destroyed last year. homes turned into twisted pieces of metals scattred all over the neighborhood
@@jibberjabber-fm6pb Hurricanes are a lot different than earthquakes. No comparison.
My cousin out in Arizona (retired mining engineer so vey smart) bought a manufactured home and put it on a slab and he's been there for 10 years and is very happy. No issues. He added a large garage attached to it with a breezeway roof where he can park 2 cars in the shade.
I knew a man, whom bought hundreds of acres and put a mobile home on it. The mobile home, fell apart, slowly, then rapidly. Fortunately for him, the land value increased, so, So, he had it replaced with a stickbuilt home, after 20 years.
Ive been in my double-wide for 21 years. It’s not the greatest. But it’s solid and meets the wind standards for where I live (Tallahassee, Florida). Even being a lower priced home, it’s been worth it. I own the land. And the only major maintenance has been a floor repair in the bathroom and a new roof about 5 years ago. Most site built homes of the same age have needed a new roof as well. I replaced the shingles with a metal roof. I’m happy with it. Mobile homes are a viable, affordable option, especially if you already own the land.
Thanks so much for sharing your story with others and thank you for taking the time to watch and comment
I’m also looking to buy in Tally, do you mind sharing how much is your energy cost for double wide? Curious how it compares to regular home in that area.
@@rainacherienne1010 I live alone and run my heat at 72 and AC at 77 and have a timer on my thermostat I have resistance heat strips which is the most expensive way to heat. On an extremely cold month, my bill may approach 200. I'd say it averages around 120 or so. Most newer homes have a heat pump which is more efficient. Modern mobile homes are also better insulated than before . Power bills tend to be in line with that of similar sized regular homes. My home is 24 feet x52 feet.
@@dmandman9 Thank you, very helpful!
@@rainacherienne1010 you’re welcome
I get sick when I see young people fork over 40K for trailer in a mobile home park. Had a young coworker fork over 40K for this dumpy trailer in mobile home lot. Less than a year later. The park sold to an investment firm. The investment firm announced a new larger minimum size requirement along with a 150% lot rent increase! Apparently, you are not grandfathered in when ownership changes. When he looked around where to move. No soap. The nearest place was over 70 miles away cost almost 12 K to get there. He ended up using his mother inheritance to pay off the note. Just to watch a front-end loader crush it. No surprise he was not the only one person in the park who got screwed. Some trailers were 1960's vintage, and they were sublet for years. The financial company. Ended up putting storage units up on the now open lots. NEVER ever buy in a mobile home park. When I retire soon. I will buy on a 2 acre land I own. I will set it up for myself to basically die in. My Nephews, who are like sons to me can loot what they want out of the place. Crush the rest. I will build a pole barn. Then the boys will have a peace of land they can do what they want with.
That's exactly right. Many states consider Mobile Homes vehicles with zero miles. If you finance in a mobile home park, then you can expect to be in debt for DECADES.
However, if you buy it with the land, then it is considered a normal house.
I used to rent mobile homes to people in a mobile home park. Their 70 foot homes had more space then mine!! It was great until the mid 2000's and the infopreuneurs starts jacking up prices. I could not afford to rent to Joe/Jane 6 pack any more.
We bought a 1969 MH on acreage. Our plan was to replace with a new MH, but we decided to live in the old one and see how it functioned. Years later and it is still good to go, and our property taxes have remained low.
Thanks for taking the time to watch and comment here on this video. Thanks for sharing your story. I’ll see you in the next video.
Smart!
JERRY, been watching your videos, and you seem to have this rare quality to really give the full truth regardless on who it benefits or hurts. I do respect that.
One thing I found when looking for an affordable home. There are parks where you can buy the home real cheap, the problem is the HOA fees are real high. Don't get tricked into buying one of those without knowing the fees in advance.
Thanks for sharing your story with others, so they know what to look out for as well. And thanks for taking the time to watch.
ever buy in hoa & make sure you ow land
never buy in hoa & make sure you own land
You're spot-on I've lived in Waimea manufactured home and my property for 30 years worked very hard to keep it from my ex-husband and his lack of paying the mortgage many many times and have recently paid it off and have now remodeled my home is 1800 square feet on Two and a quarter Acres of beautiful land and I've invested a lot of money but I love this house. I still get people when I say I have a manufactured home that's cringe their noses but I have seen site-built homes that are a mess I wonder when this opinion is going to cease. When people walk into my home they go oh wow it's beautiful I brought my premature baby home who is now 26 years old to this house it's seeing me through windstorms and a bad marriage and I'm now 60 and it will be my retirement home. I've been lucky I've had inherited says that have been given me the ability to pay it off and do upgrades just like any other home
Thanks for watching and sharing your story with others
So the only thing you actually earned or worked for was keeping it from your ex and someone worked and earned the money for you to have the home.
@@dcg590 Reading comprehension? Deadbeat didn't pay the bills, so she had to.
My wife and I are looking to buy a manufactured home when I retire soon. Thank you for giving me tips and some knowledge about manufactured homes. I will do my homework.
There is nothing more beautiful than a professional giving sincere advice to help his community. I appreciate you sir! Thank you!
The land option is a tough one since very few communities allow mobile homes to be placed ANYWHERE except a zoned mobile home park.
This is true. You always want to check with your county zoning office before making any moves. Thanks for taking the time to watch this video
I briefly sold the damned things and this guy also glosses over the fact that setting one up on land is extremely expensive - it's not just the land. There are perc tests, septic or sewer hookups. electric hookups.....etc. The people who buy these things can very rarely afford to put them on land - almost never. He conveniently skips all of that and, being in the industry, he's aware of these costs.
Manufactured homes and mobile homes are two different things. 2x4 walls vs 2x3 walls. 2x4 rafters vs bow truss. Removable axels vs permanent axels. Manufactured can be quite large and have two stories. These homes come in sections and are mated together on-site. Manufactured home are far superior structurally to mobile homes, thats why the stopped making mobiles. I help write the building code requirements for manufactured homes.
They are junk
@@davidbryant3532Not true. Manufactured housing has to meet the same standards as any other home.
@@stevenbass732 yes...however they never do.. .. proven time after time
You are trying to explain the difference in modular vs mobile not manufactured.
@@stevenbass732 not true, mobile homes are built to a very sketchy federal standard and not to state codes which vary.
A state/county building inspector cannot even take off a receptacle cover to check the electrical on a new home and believe me they do not like those restrictions!
Another reason counties are so tight in allowing zoning is that once several are in an area it discourages others from moving into that area and building much more expensive single family houses which hurts tax collection and keeps the property assessments lower for the county.
Good tips here. A few points to add-on:
1. When buying land, don't just look at zoning, but what kind of zoning is permitted to the mobile home/size of the mobile home. I had a friend that bought a single-wide to put on his land, but he did not know that zone was only for double-wide trailers. He had to let the sale of the single-wide fall through and he sold the land, as he had no trailer to put on it, deciding to move-on.
2. Older Trailers in certain states have moving restrictions. For instance, iirc in Florida, you can not move a trailer/mobile home older than 3-5 years old to a new property that you own/your own land. Most importantly, you can not move a trailer/mobile home older than 1980's models, to a new piece of land that you own, however, you can move a trailer/mobile home built after the 1980's to another trailer park only if it passes an inspection. Any trailer/mobile home built prior to the 1980's is legally stuck where it is at, in whatever park it is sitting currently in; many new investors know this, and eventually can end-up buying you out, either selling your trailer/mobile home property or renting it, once you're gone/rent is too high for you and you moved-on.
-that being said, once they buy you out, and the trailer is empty, the land owner of the trailer park may just likely tear it down and put in a newer unit/manufactured home or perhaps clear the trailer-out for the empty lot space to make it a spot for an RV/Pull Trailer to be placed there seasonally. Most of these new investors are looking to be rid of older mobiles, as temporary RV for seasonal, at least in Florida, is more appealing and brings in more money with no worries of bringing an older trailer up to code, which new investors don't want to do anyhow/more likely to put in a new modular home, if that's the case. Some are too, hate to say it, are only investing in the land value as prices are going up, especially on a coastal cities, buying up land mostly in inner Florida areas, and may one day, decide to tear down the park and put something else there entirely. I have seen that happen before, and over-all, leads to landlord-owners buying-out trailer-owners or trying to evict them-out (or perhaps raise the rent so high, which a landlord can only legally raise the rent once per-year in Florida, that certain people have no choice, but to leave, as you said in the video). It's a legal and sad battle on most people that can't afford a new place, with nowhere else to go.
3. Many older mobile homes/trailers may not be insurable these days. In older mobile homes/trailers, insurance companies are dropping them. Some people still have their insurance, but many of those have been grandfathered in under the old policies; getting an older trailer covered now, is almost impossible. HOWVER, It still may be possible to get an older mobile home covered with insurance, if you can completely bring the trailer/mobile home up to code, to meet current day stands, at least in the State of Florida, but it is very hard to do and must pass an inspection (all tie-downs up to code/not outdated, all plumbing, electric inspected to modern in code, etc.). The state of Florida in general doesn't want older mobile homes, as with disasters, it's becoming a liability to clean-up/pay-out to home owners, as older trailers are not aging well/falling apart more easily these days and do not hold up very well to hurricanes. NOW, if you keep your trailer/mobile home repaired, it can last for years; many though that live in mobiles, sad to say, usually either don't put time in to keeping it maintained or just don't have the income to keep it well in maintenance, leading to these places becoming unstable, especially with how many are destroyed by termites in the south, thus why Florida wants these gone, as its more a nuisance to the state, compared to a stick-built or cbs home.
I'm in North Central FL and own a 1997 60X24 on 10ac. I'm not disputing your claim on FL law, but I have a new neighbor that just moved their 2002 manufactured home onto their 5ac lot. Not saying it was legally done, but he did it and I noted a DMV license sticker (similar to mine) on his window dated 2023. Good point on the home owner's insurance, very important especially in FL where it's hurricane alley. In my case, there are only two companies in all of FL that will write replacement cost (RC) insurance policies on any mobile home older than 2010. Pretty strict and they will hound you for the littlest thing, like holes in your skirting, or water heaters older than 2006, and make you replace it or drop you. Companies are pulling out left and right in FL, most people have no awareness until they're stuck with a crap (or NO) policy that barely covers resale value.
Thank you for exposing the pitfalls to potential mobile/manufactured home buyers. Honesty and integrity are in short supply these days. You are to be commended for watching out for the vulnerable.
Thank you! You made my day I truly appreciate your comments. Just trying to help others avoid the pitfalls of a costly and I’m so glad that you enjoyed this helpful video. See you in the next one.
You should do a video on living beneath your means when living life and purchasing real estate. Some people buy houses they can't afford.
That is a very good idea! I’ll probably be working on that, in a future video. Thanks for watching. I’m so glad you’re enjoying these helpful videos here on this channel. See you in the next video.
@@JerryPinkas Hi yes your videos are informative. What about the truth of trying to become a landlord documentary on a small budget? Thanks
Agree, love to see this video of living below means and how you calculate what you can afford really
@RGX2178 Don't let your housing (mortgage/rent, real estate tax, and home insurance) pass 25-28% of your yearly or monthly income, and save six months of your emergency fund.
Nobody can afford to buy in this market but they keep doing it. It's gonna cause a housing crash!
In the early 90s I built manufactured homes on the assembly line in northern Indiana. It was a very demanding job. The pay was good, though. Then I moved onto sales in southern states. When these homes are set up correctly, and proper maintenance is done, they will last many years. There are good and bad ones, just like home builders. To me, it seems that modular is the way to go, today. They are just like site built homes, but built in pieces at a factory, which are then assembled on the property. The factory has inspectors for every step of the build. Buying used mobile homes is like pulling the one arm bandits in Las Vegas. Unless you have the original build sheet, you won't know what is going on under the floor, in the walls and in the ceiling.
Thank you for the update information. I owned a 14X70 Singlewide during the 1980's. I absolutely LOVED IT. It was perfect in size for my family and the payments under a VA were only $340.00 a month, plus $75.00 lot rent. That will never happen again. Take Care Everyone.
Thank you Jerry for this invaluable list! Beginning your search with these well-advised points will save many oversights, mistakes and disasters as you said,
because we know that discovering one problem usually uncovers 2-3 more. Great advice, especially regarding doing your due diligence on city codes, permits, park ownership, and being wary of “good deals.” Great information!
As a retreat to a stronger position in this crumbling economy + inflation, it is an option to consider. I was shopping for a home to retire in 2 years ago. I would have put down $200K, and still had a mortgage of $1600 a month. Add in $300 property taxes. Water, garbage, and sewer. That's $2K a month, with $200K in cash gone. Instead, I bought a nice mobile for a mere $30K cash. No property taxes. No water, garbage, or sewer charges. Rent for my space: $625 a month (practically couch change). And I kept most of my capital in the bank. Nice place too: 1.5 miles outside the city (3 minutes to town, and Costco, Winco, and Wal mart). Sitting next to a county park and the river. Next to farms and ranches. No trash, no street people, no crime, just birds singing and fresh air. I don't care if the value goes up or down: I have a nice comfy place to live for the rest of my life, and one which costs next to nothing. The key to doing this: make a list of all parks in the specific region you wish to reside in. Decide a limit of monthly space rent (mine was $700 and under) and cross those above that off the list. Visit the remaining parks. I narrowed it down to three, all of which were nicely placed, clean semi-country parks... but still close to town.
Thanks for watching and sharing
A couple of years ago, I wanted to purchase a mobile home on a nice privately owned lot, and I checked into VA financing. They said the home had to be less than 10 years old and pass other criteria. It truly seems almost impossible to find good financing for these types of homes.
Don't push you luck. If you can find a downpayment on a real house & lot, should be able to finance a lot and a trailer via the owner.
25 or 30 years ago financing and insurance on the mobile home I bought in a park was easy to find and get. Now not so much. I didn't have any insurance when I moved out. An old home with no bank loan, I don't know if you can find any.
I sold the thing very briefly, years ago. Unless things have changed dramatically standard lenders - banks, credit unions, etc. - don't touch these things in terms of financing.
You'll notice most of the resale real estate listings will say something like, "Cash Only. The value is in the land. There's an older mobile home on the property in _________ condition." As in, conventional financing is generally unavailable.
Very helpful video. Thank you so much. God bless you and your family!
WOW! You're just filled with a plethora of information. Very useful, I might add. Thank you! 🌻
Excellent presentation!! We bought a lot and put a double wide on it for cash 25 years ago. It's on a permanent foundation with city water. We have maintained it regularly, upgrading the whole kitchen and master bath and putting on a metal roof that insurance paid for after a hail storm. We only pay about $1300 for taxes PLUS insurance yearly. We now have many species of mature trees and shrubs on our one acre lot. The value of our property has not appreciated nearly as much if it were a stick built house but we our happy with our minimalistic life style and our view of the river valley.
Your coverage was comprehensive and accurate.
P.S. I grew up in Florida, my dad was a RE broker and I had a real estate license.
Thanks for taking the time to watch and share your story. Glad you enjoyed this video.
I’m in the UK, own my own 1920’s traditionally built brick house, so why do I watch your videos? I don’t know…but they’re great and you really know your stuff!
One thing about your land perking. I made the mistake of buying 10 ish acres that won't perk but its not unusable. I just have to have a special type of septic that costs a LOT more than normal. Keep in mind.
Thank you
My husband wanted to move here in a mobile park 55 and older.My husband passed away about a year after moving in.It’s beautiful inside but I started doing the landscaping.When I started doing the landscaping in the back. I never realized the roots from a Maple Tree are as large as the tree Trunk.They are literally going around the whole back of my house.A Maple Tree should never ever be planted near living quarters because it will actually lift it off of your foundation and move it.Ruins patios,sidewalks,driveways,everything you put around you’re home it will ruin.The owners told me “someone will cut the roots.So when the tree dies they pay for it.Never came now I was told I am responsible for it. I will definitely fight until my last breath. I am responsible for my property, I take care of everything my landscaping looks great.Except for the back I never realized those roots are destroying my living quarters. I put porcelain tiles underneath the carport so it’s a nice patio.Then on the side I had some one put pavers down.That’s when I realized about the roots of that tree. I read every thing about it.Also it stated 90% park will refuse to pay for the tree removal. It never was disclosed in the contract if my house was being destroyed by the land it’s sitting on top of paying $600 to be on that land they own. I would be the one responsible for that land. I definitely take care of all the surroundings around my home.But there property is destroying my home. I definitely don’t have the money they have for sure.But to disregard it like I don’t know what to tell you, it’s your responsibility.That was never ever in my contract. I will fight until my last breath about it.
I live on a forested wetlands, and there were roots all over my backyard. Cost me a fortune to get them dug up. This place just isn't worth it!
Right on. Lot rents here average $1500/mo+ and one can spend a few hundred grand on the unit. People do get displaced when the parks get bought and lot rents go up. It is affordable entry compared to other options but one to really take caution before jumping into.
Thanks for taking the time to share and comment. It’s happening! I truly appreciate you letting others know what’s really going on. I’ll see you in the next video.
I love my manufactured home here in eastern Canada. Just a 10 minute drive to stores and I have 5.5 acres of land and 450 feet of lake frontage. The well water is so pure you could bottle it and sell it. it has 3 huge windows and 1000 square feet. All plywood construction no chipboard. Has back porch, a big baby barn and a shed. Only 8 years old with oak flooring and porcelain tiles in huge kitchen. I'm currently paying 630 dollars a month mortgage and taxes. My biggest power bill was 170 dollars in January. Has a heat pump also. Everything is so convenient. Glorious retirement!
You wouldn't get all that in Southern Ontario.
@@mckessa17 If one doesn't want or need a monster home then a manufactured home makes financial sense. But it must be located away from large urban areas so a car is required. A million dollars for a bungalow house in the Toronto area or 3000 dollars a month to rent an apartment?! Am I on the same planet?
@@gwwayner I know a few folks who sold there overpriced homes in the greater Toronto area and are living like kings and queens in the Atlantic provinces.
Excellent video, Jerry. A great strategy is to form a co-op like we did here in Bradenton Beach back in 2002. We're financially solvent and maintain affordable association fees for our residents. We actually turned down a huge offer last summer from one of those corporate sharks you spoke of. Saw them coming from a mile away. The other park in our town is not incorporated and just got sold to an investor and now those residents are looking at a bleak future. Very sad situation for them. Appreciate what you do.
Thank you. I needed to hear this. Please continue promoting this stuff.
15 years and loving it. Your best option, if you are able, is to put it on a piece of land you own.
If the city let's you. Against code in some cities
I had a whole lot of trouble with the financing on a mobile home in Texas. It turns out that if you try to buy a place and the trailer has been moved, that screws everything up. People first buy their place and put it in a park, then the park jacks up the lot rent so they move. And when they do that, the trailer has "been moved." So the financing ability degrades.
Financing these things is a nightmare - I sold them, very briefly, years ago when I needed any kind of job. This guy makes it sound easy - it isn't.
@@guymerritt4860 I've heard all kinds of nightmare stories about moving them too. One fellow told me that if I ever moved one, to copy the serial numbers off the wheels or mark them, because the truck drivers would replace your good ones with garbage. Other that these hazards, they're nice and you can put them out in the country where it's quiet and relatively safe.
@@werefeat0356 I actually bought a used one, once, and it was nice. It had an "expando" which was popular years ago - one portion of the living room pulled out and the living room was really large. I just bought it because the seller's sister had died and he only wanted $1,500 for the thing. I just bought it to fix it up and sell the thing. I actually drywalled most of it. I mean, they're okay in some circumstances. But this guy paints a much rosier picture of the things than is real. And, putting 'em land costs a whole lot more than most people think. You have to have perc tests, drill a well or hook up to city water and electric - he doesn't get into the costs of putting one on land, at all. It ain't cheap. If you can buy a used one for next to nothing they're fine in some circumstances. And it cost thousands to move the damned things. They're also dangerous as hell in bad weather, or, in the event of a fire. And this idea that they gain in value???? When did that start happening?
1 park of trailers was lucky living on coast in Florida & sold land which they owned for a fortune being beach front property
@@jetjan Well, that's cool.
Just subscribed to your channel and your work is deeply appreciated, as a first generation home owner that grew up in manufactured homes this information is priceless!
I guess that I got lucky. Found a 12x60 1972 trailer on a good size city lot for $22k. Rough, but livable. Put another $7k into improvements and now I have a comfortable home with a workshop, yard, and big garden. I spent the previous 10 years living in a tiny $1200/month apartment. I always joke with friends and family that it's a POS, but it's MY POS! 😂
Jerry, thank you for discussing the buying land topic.
Too often people buy discounted land just to learn that it is useless outside of camping on it.
Thanks for watching. I did a video about that you may find interesting!... What You MUST KNOW Before Buying Land and Building A House - ruclips.net/video/bzIQv5Sd6ao/видео.html
By definition, if you buy discounted land, it's market value is worth more than you paid for it. In addition, if you buy in the right area, which is almost everywhere these days, the value of the land will explode. Of course, I am talking about land as an investment.
Ya Robots will become u.
Your videos are getting exponentially better over the past few months! I think you are putting a lot of work into these and valuable info in them. Thanks
Wow, thank you! It only took me 1100 videos to get to this point I guess. Thanks for taking the time to watch. I truly appreciate your support and I’ll see you in the next video.
Great advise. I don't know if this will help anyone but my wife and I took advantage of the housing boom and sold our stick built in town home and gained a great profit. We found 5 acres in the country and bought a manufactured home and couldn't be happier with our decision. Our home is awesome with a large deck and great for entertaining. We were able to have a nice new home and wipe out a chunk of debt by selling our in town home. Everything Jerry said in this video is accurate, pay special attention to the finance portion, we pulled out of the process with our first bank as we educated ourselves and were able to find a local lender to work with and saved a point and a half interest by shopping around and talking to several lenders.
Advice*
Omg, awesome video, saved to playlist! Will watch again! Shopping recently, for "reasonablely" priced, pre owned manufact home in Las Vegas Valley, NV, hopefully northwest, Centennial area. Thank you so much for such a great, informative and helpful video. 👍 and subscribed. Will continue to watch to help with my process and choices.😳🤯❤
Been living in mines for 9 years in tampa fl. Bought it for 26 k in 2014, now worth 4x as much. My neighbor just sold his 85k. Definitely worth the investment.
Great info. I have no issue with living in a mobile home to save money if issues arises. I lived in one during my college years and another one when I started out my career so I could start saving for a home and paid off my student loan debt. I'm pretty easy going - a roof over my head is usually all I need.
Thanks for sharing your story. And thank you for watching this helpful video.
You’re very fortunate to have obtained a great job so you could pay your student loans. That is not the case for millions of Americans who were scammed by universities . You’re very fortunate….count your blessings.
Way to go! I WAS a realtor and a broker for years. After 2008, guess what I did. Yup. A beautiful older double-wide, in a community, completely renovated with granite countertops! And it's value is rising, due to this insanity in the real estate market. Today. I believe it's the only way to live. You can even have 2 if you want. (But beware
... 'they" don't want you to live affordably.) -R.
@@rosanneallen-hewlett9973 So true, what a great comment!
@@laurenurban3942Nonsense. Student loans are fair and easy to pay off. You just pay them off for years. I finished paying off my Master's Degree. It was very do-able. They even allow you to pause payments when you hit a rough month. They're very fair. There's no excuse for not paying off a school loan. Its part of adulthood.
I saw a documentary on trailer parks where investors realized people were getting too good of a deal and so are buying them up and like doubling the lot rent. The cost they quoted on the documentary to relocate a mobile home is $17,000!
Lot rents in Fla are well over 1 k a month ridiculous…
My mom owned her own land and bought a manufactured home. Everything he says spot on. She owed it here in South Fla. they are not built to last on the inside. Everything fell apart 15 yrs in. Bathrooms kitchen etc. However it was built for hurricanes and survived many down here. When we sold it everything had to be replaced. Trying to sell and buyer getting financing and the home being appraised was a nightmare. It all worked out in the end.
Hi there. What area of FL did your mother own the land? I’m in Palm Beach County and interested in purchasing a manufactured home on land.
The big problem with mobile homes is that they are considered trailers, and trailers are vehicles, and vehicles start depreciating instantly, and don't stop doing so unless they survive long enough to become rare collector's items. Real houses mostly go up in value all the time.
15 years in most things needs to be replaced whether they are in a manufactured or stick built.
@@WelcomeInc Regular on-site built houses do NOT need to be replaced after 15, or 25, or 35, or even after 75 years. They will last indefinitely.
@jamesbosworth4191 You were talking about the interior finishings. Not the house itself. And FYI most on site houses are built like crap today. And decent manufactured houses are listed for 50 year life. You don't know what you're talking about.
Excellent video Jerry. You are SO spot on with this and the hidden costs.
We bought a manufactured home, built in 08, on it's own lot and it's pretty nice.
I have upgraded certain things and they needed that.
I think we got a fair price and Great Financing, under 3%.
We're older and really we know we made the right choice.
It's a Clayton home with and wasn't the cheapest inside, it had nice upgrades.
Our bathroom sinks are Not Plastic and I put a nice Kohler Sink in the Kitchen.
We're in a neighborhood where most of the Working People have these homes.
We Wouldn't live in a Trailer Park.
Thanks for watching in sharing your story with others so they know as well. Thanks for taking the time to comment.
I love your very eloquent video... I am a retired RE Broker and Builder .... the world is already better with people like you and I. ; )
The advice that JP is giving u right now is PRICELESS!! If you have family and friends looking to buy please let them watch this if u love tgem
I used to rehab mobile homes and then went to assembling double wides, trim, sheetrock, tile, carpet, vinyl siding, adjusting doors, and hardie plank on ends. When we were buying our first house, the wife kept wanting to bite on a mobile home with land because of the affordability, I refused to do that. We ended up buying a house, when we sold that house 5 years later, we pocketed 30,000 for our larger land purchase and house build. That house and land was 225,00. We refinanced and cashed out, I added another 1,000 sqft to finish our whole house. We're at 400k now with over a million in equity . I know this isn't always across the board, but it's an example of how it can be accomplished if you have vision. For me personally, I don't consider mobile homes adding any equity to a land deal. Yes, they are put together a little better now, but unless you constantly maintain it to make sure everything is kept like new, they degrade much faster that a stationary stick frame house. It's about being smart and patient to build that equity that you can use however you like.
I understand there is a huge affordability problem in realestate right now. There's a reason it's harder to get financing on a MH, the equity is never an increase in value unless the land and house are financed together and the land is projected to rise in value. If you're wanting to get ahead by increasing equity and wealth over time, buy used and rehab to live in while you build a house. This is the only way I would do it. The land is the only value holding or increasing value there. The bones of a stick foundational house will last many decades, this is why financing is easier with a stationary house.
Thanks for watching this video and thank you so much for sharing your story with others
I work in the real estate industry and I expected to have some zinger of a comment disputing this guy's information but no he nailed it. Everything he said is true
I used to live in 55+ mh community in FL. Rent used to be reasonable. Now it’s approaching $1,000 per month. I moved out and bought stick built home. Like it much better.
Thank you for sharing your story with others about your 55+ mobile home community in Florida. Thanks for taking the time to watch and to comment. Glad you enjoyed this helpful video.
We are in Florida, we bought a new manufactured home in a all age community. Our rent is far from being $1,000 a month.
this is excellent advice! SO thankful I watched and learned important details! Well done!
Great video explaining things and correcting some misconceptions that most people seem to have. My wife and I bought a 40-yr old manufactured home in the mountains almost 3 years ago to enable us to retire early. We were picky though, as ours has plywood subfloor and standard 2x4 framing throughout (definitely not standard for the era of the home). I am still working (we're about 4 years from our planned early retirement) and the mortgage is 5% of our income. We're about 75% through remodeling the place and making it how we want (plus upgraded insulation everywhere, etc). Home will be paid off next year (been paying roughly 4x the mortgage monthly). We've been practicing living on our retirement income since we moved (all the extra income is going to the mortgage, 401k's, etc) and it's been good for us. I wish we'd started living below our means much sooner!
Great idea to buy it before and fix it up. We love the mountains. Are you in a community or on your land? We would love to that, but so expensive these days. Happy Retiring Soon!
@@mayrablanco2013 Thanks! We're on our own land, creek flows about 20 feet from our bedroom window. I've got zero complaints!
@@c0rnd0g_19 Sounds pretty awesome! Do you mind sharing what state you're in? We love TN and tried doing that several years ago, but it didn't work out for us. Enjoy and Happy New Year!
@@mayrablanco2013 We're in the N. Georgia mountains.
If you are putting a manufacturer home on your own property. Make sure that they can deliver your manufactured home on the roads that They will be driving and the Power lines can be lifted up high enough to get the manufactured home to your property.
Please, don't stop doing what you do! We all need someone who knows what's really going on to inform us. Honesty has been taken hostage and is being held in the museum of dead language.
Great video!! Very helpful tips! Knowledgeable! Concise! To the point! Thank you
I am a realtor and property manager in Ocala FL, what you're saying is spot on. Despite how hard things are getting sales aren't going to plummet, developers are still making money, and sadly cost of everything has gone up. I love Manufactured homes, and mobile homes and it is definitely still doable, you just have to be well informed, like yourself to buy anything in todays market, sadly not a lot of people seek out information and information doesn't just drop onto you're lap.
I learn so much watching your videos, Jerry. And I appreciate the good advise about "the greener grass". So true!
Glad you like them! Glad you enjoyed the grass is greener advice. And I truly thank you cause I do appreciate you watching and taking the time to comment. See you in the next video.
We have lived in a manufactured home for 7 years in a over 55 and over community. Our home is on a concrete with a crawl space underneath. It has doubled in value since we bought it.
Just wait until it starts falling apart around you lol
I highly doubt that
Thank you for this video, you're information is very helpful
Mobile home aren’t investments, they are money savers.
One other issue with buying land is to make sure you have access to it. I've seen a couple cases where people bought a landlocked parcel and then found out they didn't have a legal easement to get to it, or that the designated easement wasn't actually usable.
Very true landlocked properties require easements and sometimes they are not so easy to obtain especially if you have a ‘creepy neighbor’ as one lady once told me. Thanks for watching and commenting.
Oh, and I've seen a couple situations where people bought a property with an existing driveway crossing another parcel, only the find out it's not a legal easement, but an arrangement the last owner made with the neighbor. That neighbor then sold, and the new neighbor didn't want the driveway there anymore.
@@mickaleneduczech8373 Thanks for sharing your story and thanks for watching
I dabble in land development. I have some experience. I divided a large property into lots. Come to find out, three of the lots were inaccessible by the power company. Fortunately, though I had sold most of the lots, I still owned a lot through which I could give easement to the power company. It should have been caught and accounted for by the surveyor. I was lucky I still had that lot available through which I could grant an easement.
Very helpful, thank you.
My friend’s parents are a manufacturer home success story. They put theirs on land they bought in lewes DE. Works for them!
Thanks for watching and sharing your story
I toured dozens and dozens of manufactured homes over the last six years. Prices have literally DOUBLED in the last couple of years! Even the more expensive homes are poorly built. We decided just to work on our 1979 DW a little at a time.
Another great and very informative video! Everything you have mentioned I have seen happen to someone. They can start out affordable, then they're not. Particularly heartbreaking are the older folks with health issues on a fixed income that get hit with fee increases they can't handle. You can also get your mobile home park sold right out from under you...and the city doesn't care because the developer will put the property to "better use" and the city gets more in taxes. Such a sad situation for elders to be in. Thanks again for highlighting these (and more) issues.
You’re right! Thank you for taking the time to watch and to comment here on this video. See you in the next one.
Well it’s their fault for renting into their older years and thinking things stay the same. They don’t. You must prepare for retirement and not just hope you can sustain, you have to be ready
That is why my car is going up in value......it's becoming the affordable housing.
My parents bought a mobile home back in the late 70s. They bought a plot of land and paid to have a well drilled and a garage built. They got burned on so many things it's mind boggling. Mobile homes can a huge gamble and you need to really do your homework. Do not even consider putting your home in a park!
Thanks for sharing your story with others and thanks for taking the time to watch
This was very helpful, thank you!
I love you!! And all the information you share!! I rarely subscribe to any channels on the first video but you Sir, just got a new subscriber!!
An investor friend of mine had a win win situation for him and mobile home owners. My friend developed a mobile home park and sold the lots on a owner financed mortgage with small down payment. Interest rates
were above traditional mortgage but not usurious. Mobile home owners were guaranteed fixed payment and eventual ownership. Assuming mobile home owners paid according to contract every one was happy. Great Video.
I have a brand new 68x30 ft modular home. Its seems quite solid. 2x6 framing, 2x10 floor joists, 9ft ceilings, R50 insulation upgrade, hardie board and batten siding upgrade, transom window upgrades, and I did all my own interior finishing upgrades, built a big stone fireplace and installed heat pumps for ac.
What builder built your modular?
Sounded like u got all the upgrades which turned it into a “normal” house.
@@davidwhite8775 SRI Kelowna.
@@todd5082 haha pretty much. It's a second dwelling on the property so it legally cannot be a actual house.
Thank you so much for shearing this information.
I very much enjoyed your video. Interesting topic and thank you. I subscribed! 😊👍
Excellent advice. Watch out for mobile home financing that is more like a car loan, than a mortgage, and allows the home to be easily repo'd if you get behind. Another point about plumbing - mobile homes use special plumbing. It's not the same as a stick built house. This can make repairs more difficult and expensive because parts are not always available when you need them.
So glad you enjoyed this helpful video. I truly appreciate you taking the time to watch it and to comment here. I’ll see you in the next video.
single wide modular homes (with the lot) in my area have gone up in value $10g a year consistently. ours is now worth 40g more than we recently pd for it. we r mtg free now...its cheap to heat, quiet area, pretty good neighbors, near the city.
In 1994 we bought a 7 yr old goldenwest triplewide on 1.3 private wooded acres. I had inherited some cash and was able to put down half so as to keep the mortgage low (about $410 a month on 30 yr) so in worst case i could work minimum wage job and still keep my home. Paid it off early. We have a shared well so no monthly water bill (a 1/3rd small yearly electric payment for powering pump, septic pump out every 7 yrs (2 person household) so no sewer fees. The appraisal this yr was almost 4x what we bought it for. We are well set for retirement. After the first 12 years we started doing upgrades and will probably live here forever.
We were told to go for the biggest mortgage we could get but wanted the safety of knowing we could always make the payments. The peace of mind was well woth it.