My husband and I lived in a mobile home for 21 years and we were never ashamed about our living arrangements. We raised our three children there and they never complained. We purchased our present permanent home in 2011 and paid off our mortgage in just seven and a half years. Now we are retired and enjoying our home that we worked so hard for and waited so long to buy. Sometimes waiting for the good things makes us more thankful!
I bought a new double wide in 1997 for $31,000. It has 4 bedrooms. It’s my forever home. Doesn’t matter if it goes up or down in value. Better than throwing away money on rent.
❤ I agree w you. The whole picture was not painted here. If you put a nice paid-for mobile home on a piece of land in the countryside which is also paid off and taxes are low, you have a good situation --- as long as you maintain it really well and do not plan on selling. Not everyone needs to be rich. For some good enough is good enough. The costs of repair and maintenance on a regular house is very high. Not so on a good mobile home--if you keep maintainingit. It's all doable and taxes are low. It can be a very good option.
Exactly! Had you bought a house, you would have paid more than the value of the house just in interest. And I'll bet that your double-wide IS worth a good deal more than you paid for it. I don't understand how Dave- who says that he eschews debt, would have someone engage in the height of debt slavery: a mortgage, rather than living for next to nothing in a MH.
@@bobbylibertini at the time I bought it, a house of same layout and size would’ve been 3x the price. Paying 3x price plus interest is not good math. Regardless of up or down in value. $31k paid off is $50k, a house at $100k is $165k paid off. So a real house has to go up a lot farther in value to equal out.
@@davesrvchannel4717 Exact-O-mundo! I paid $12K cash for my singlewide 23 years ago. I wouldn't care if it's worth zero today....I've lived in it for 23 years for virtually $0.00 - and no interest. Paying 23 years of interest, or worse yet, renting for 23 years, I would have LOST a lot of money in interest or rent; but instead, I saved that money. But the real benefit is the freedom one has when they aren't in debt and always have a place to live- No, didn't have to take that clot-shot or kiss anybody's chooch because if the SHTF, all I have to do is pay water and electric. THAT freedom is what not being in debt is all about, and I wouldn't give it up just to acquire something that may go up in value, while what I'm truly paying for it (interest) ensures that I'd still suffer a net loss. No wonder Dave went bankrupt!
@@bobbylibertini Dave’s issue with mobile homes isn’t the home itself. It’s that the land is usually owned by a park manager. Mobile homes are usually cheaply built too. Not great in states where it rains and snows a lot.
Poor guy, on top of everything else worrying about what other people think. Normal mature people will only admire a person who takes good care of their kids and doesn't go into debt to impress others. Good job, man.
Thank you so much for stating pure 100% fact! This caller has it made and has wonderful parents! My prayer is that he understands how blessed he is - he's right where he belongs and has the backing of his closet friends and allies - his parents! This is worth it's weight in gold❤
Poor guy? He makes over $80,000, no debt, and has $22,000 in savings. Mommy and daddy saved him in a time of crisis after his ex-wife probably filed for divorce, as women typically do more than men. *He didn't lose anything* . He's extremely lucky. Ya'll acting like he's scratching and surviving.
My Dad always told me that it’s none of your business what other people think of you. I always thought it was a pretty wise outlook on others’ opinion of you and the way they treat you accordingly. As common sensical as it sounded, it was much more difficult to put into practice. It’s even more difficult to quit worrying about what others think of you without feeling like you’re surrounded by idiots and feeling contempt towards those people
I agree with Dave, However i sold a nice brick home 21 miles away and purchased a Extremely nice mobile home sitting on almost 5 acres out in the country area almost 12 years ago for $99.000. Today it is valued at $259.000 after having it appraised. with NO neighbors to deal with, Peace and harmony. Lots of deer, squirrels, fox. It looks like a State Park. I could care less what anyone thinks as i sit on the porch naked drinking coffee and 100% Debt free. Life is SO GREAT.
I did the opposite. I bought a $125,000 5 acre mobile home in 2016. Sold it in 2020 for $225,000. Bought 30 acres and a brick home with basement. I'll have it paid off in the next 3 to 5 years. Im only 38. I can pee and run around naked if I wanted too also. ALl the neighbors own 75 acres or more. The guy next door has 250, and NO home on it. Im spoiled rotten.
Coworker makes $150k/year and lives in a paid-off mobile home. He has zero debt and about to retire. He loves his mobile home and will never leave. I see zero issues in living in a paid-off mobile home.
@@deanaburnham9571Well, speaking from experience having owned a house years ago before the divorce....and now Living in my mobile home for the past 15 years, I would prefer going back to a real home. Older houses are built much better and last several lifetimes! I am constantly fixing or repairing leaks in the roof/ceiling, replacing tubs that crack and leak, pipes that fail under the mobile leaking (really sucks in the winter crawling outside under all that mess!). The mobile keeps sinking becoming unlevel. And its very cold in here in the winters as the insulation is all rotted away and wind-torn underneath! I do all the repairs myself and you'd be worried if you ever had to tear apart any walls like I've had to do and see what's behind there! The structure is made of really thin wood like 1/2"x 2"! That's really flimsy and not going to protect you from harm if you have a bad storm. Trust me I know. This year I had a really strong storm that tore my metal shed off it's wooden floor and flung into my mobile home it went through the metal outside into the home and made a 6'x9' hole as the rain poured and the wind blew into my home! What a mess! There's always problems that need fixing and I'm tired of it. Vowed I'll never buy a mobile again...has to be an older home built well with real plywood, stone or bricks! Lol!
@@shonuf5152 That is until strong winds hit it...or a fallen tree? And it starts leaking everywhere a few years down the road and your constantly having to fix stuff! They just don't hold up these days as they're made out of crap materials that rot quickly!
"Trailer" is the old timer mentality - pre 1976 - before HUD regulations. Unfortunately, as a whole, this bad vibe continues to this day. Actually, as with any home or vehicle, as the years go by they get better and better. Trailers started as RVs. After 1976 they became Mobile homes. The name Mobile home began to transition into Manufactured home in the early 2000s.
Spot on! I lived in them while going through college, and for 2 post graduate degrees and Post-doctoral work. I now make well into six figures and have a net worth of well over seven figures.
Boomer here, this is mored than a housing crisis. More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Annette Christine Conte is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
@@jeffDwyer1 Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
My parents bought a double wide. I eventually put a foundation under it so it’s no longer considered mobile, and the land and house went from being worth $100,000 to almost $500,000. Absolutely nothing wrong with mobile homes. If I had a choice between a mobile home and an apartment, I’ll take a mobile home every single time.
I'd be interested to run comps of the same scenario, but with a stick built house to see what it's worth today. Mobiles are always mobiles, even when treated as permanently fixed for purposes of lending and taxing. There's a spot on the MLS listing contract where you have to indicate if the house is a mobile, even a permanently affixed mobile still has to check the box that it's a mobile. Let's not kid ourselves. There's a reason for that.... fair or unfair. People want to know.
@@Ap_twshRight? Imagine just being able to pay for any repairs instantly with cash. And whoever owns a trailer without having to pay lot rent is also very lucky.
My first home was a 20 year old mobile home, that I set on 6 acres of land I bought and paid for, and we lived in it for 3 years . I spent money underpinning it, remodeling it inside and out. And everyone who saw it always commented on how pretty it was. My wife had issues with it, but not me. I sold it for 5 times what I had in it when we built and moved into our home. I was never ashamed of it!
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
Could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation, and I'm seeking a more lucrative investment strategy to effectively utilize them.
'Melissa Terri Swayne is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
Thank you for the information. I conducted my own research on google and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
Dave needs to do more research on newer mobile homes. As of 1976, they have to pass the same building code as any house. If you buy any built after that, take care of it and (obviously) own the land, absolutely it will go up in value.
❤And maintenance is easier and less expensive in many cases. Dave wants people to have the same values in terms of get richer. ..sometimes good enough is just fan-tast-ic!
They are a depreciating asset due to having a title, it’s nothing more than that. Horrible wealth building tool. The land it is under is all that usually goes up in value. Not saying you are losing money, but I definitely lost value on the one I lived in.
The trick is, don't go crazy when you buy one. Don't buy the biggest and fancy one. Keep it up and repair when needed. Even a regular house needs that. I spend 350 bucks a month now. Not hard to save up a few bucks when you don't pay 1500 a month or more for a roof over your head. I'm in the city and less than 5 minutes from downtown or Walmart.
I am a faithful Dave Ramsey listener. I am glad to see on this call that he and Ken were kind to the caller. I have heard them Both make fun of people living in mobile homes. In Washington state where I live mobile homes do NOT go down in value they go UP. Even if they're in a park with space rent. My husband and I are almost at retirement and live in an older mobile home in a 55 plus park. Our living expenses are SO low, we might stay here for years to come. 100% Don't care what people say or think about our choice on where to live. The median price for a home here where I live is $450,000. We Choose Not to invest that much of our wealth into our home. Grateful and content here❤️
When I got divorced, I could only afford a mobile home, and I was so grateful to have a roof over my head. I moved on to a house, but that mobile home was the stepping stone that I needed.
Ashamed?! This dudes blessed! Said he makes over 80K a year, he can bank tons of money living in his parents moblie home for a few years! I'd say be proud & grateful for blessings of family support!
I live in a 35ft travel trailer and make over 100K per year. I just downsized to it 4 months and there were some bumps in road but I love how much I am saving each month. In my area renting a bedroom is $1k per month and I would have to share a home with 2 or 3 other people. I bought a 2021 keystone trailer trailer for $22K and where I'm renting a spot costs me $500 per month and that includes everything. Once it paid off in 3 years, my static expenses per month will be under $600 per month which will allow me to invest enough to retire within 10 years. I have no shame.
One of the most liberating feelings is to not give a crap what other people think. If these people are insignificant to your life, then forget about them.
I'm doing better than 90% of my peers 😂 and will never worry about a roof over my head. I own 5 cars (4 paid off) on 2 acres of fenced land with my closest neighbor 1 mile away. I would LOVE some 1 to say some 💩. I go on vacation once a year & have 5k in savings at all times.
@@froggiman1 It is Dave's Mindset because EDM take the home value into consideration. Imagine, if your employer gives you FREE housing, Residential home.
I bought a double wide on land many years ago. I bought it for the land not the house. Now as a senior my place is worth 4 times what I paid and I dont need a large house. My taxes are low and my homeowners insurance only increased $5/month. Most people increased by $200/month per my insurance agent. I have never felt ashamed. I feel grateful.
@deanaburnham9571 yes. Taxes and insurance much lower as well. New roof metal much cheaper than traditional shingles. I realized I made a wise choice when many 😌 said I didn't. Many of them lost homes they could not afford.
If your home is clean and comfortable and your family is happy, that sounds like something to be proud of. Kids have no idea what to be ashamed of unless you tell them.
Dave is wrong here. Today, some mobile homes that were worth $30k 10 years ago are now worth $200k today in California. I'm seeing some sell for 350k, which was unimaginable 10 years ago. Even fixer uppers are selling for a lot.
Dave, You are wrong on this. It's just like stick built real estate, but Manufactured homes aren't in your arena so you don't understand the total picture.
@@aaronschmeling1414You are so correct! Also, when the manufactured home's interior and exterior are kept up to date and clean you will be able to sell it for a good decent price if you own it.
Same with my 2001 Toyota Corolla. Surprisingly, a lot of people have offered to buy it, even though it's a beater and it's a stick shift. People are catching on to how I save on gas and car payments. I need a new strategy.
I inherited a single wide mobile home on a small piece of property in a rural town. Best place I've EVER lived in or at. NO rent. NO noisy, rude, or crude neighbors. NO having to be afraid to sit outside and enjoy a quiet, starry summer night in peace and safety. I'm starting a garden in my backyard, that's fenced in and pest free. Living in a mobile pays less in taxes than a fixed house, another plus. So don't look down on those who live in any kind of mobile home, it has more + than - .😁💯🇺🇲
@DeborahEvans Super!! The idea that these mobile homes or prefab etc don't last is not true. They're made differently and require upkeep like any other home--which BTW as you know is much less expensive if they're not neglected. And they're every bit worth the investment of upkeep. Some do enhance the land when it's time to sell. For many retirees it's their forever home and that's great too if the maintenance is continuously up to date. So glad you found the perfect option because you're enjoying your choices! The smart model of 50, or 25 years ago is not going to work for people today. Creative minds will find options that are affordable, quality, and beautiful! Like it or not, Daves vision cannot work for everyone, but his idea of not getting into debt, and work smarter not harder, is gold of course.
That sounds like a plan, however, there are kids. And kids go to school. 2 acres sounds like living off the beaten track. After that is sounds like not that good idea
I understand Dave is in real estate. I know many people who live in mobile homes. Lots of farmers live in them. My aunt and uncle lived in one for 39 years. Their front door emptied to the Pacific Ocean 🎉
The only time I'd say it isn't good to live in a mobile home is when it's on someone else's property or in a park. There's nothing wrong with living in one on your OWN property
I lived in a trailer for 10 years. Had literally no problem with it other than it was a trailer park and the lots are small. I’d take a single wide on 5 acres of land in the country over a house on a 1/4 acre in subdivision any day of the week.
A 250 sq ft studio in Seattle will start you at $1600, not including utilities. Once you stop caring what others think you’re actually living your own life
I was renting a 250-300sqft micro apartment during the 90s and early 2000s in Hong Kong with no issues. Got strange looks and not very good comments when I told people this back home but never bothered me. First time I was alone for one month. Second stay for two months with girlfriend who didn't mind it at all and part of the reason we are still together. Safe,good wifi, wet bath,mini kitchen,washing machine,and nice balcony overlooking a garden. Close to subway station,Star Ferry,market,retaurants,Golds gym,cha chaan teng,etc. so no issue.
Those few words of encouragement and acknowledgement sound like they meant the world to him. Never miss an opportunity to build someone up, it may be the first time they've heard it.
Lived in an rv for 10 years in Alaska & lived in a rental mobile home for a year & owned a modular home on land for a couple years & it worked for us at the time but was never ashamed of it. Stepping stones & choices & decisions in life & sometimes we get hit full on with LIFE & some of it is very unexpected & cannot be planned & prepared for no matter what.
I lived in a mobile home and it was ok at the time I was trying to move up in the world. I remember the cold drafty windows. Freezing pipes in the winter. Coyotes sleeping underneath behind the skirting. Tripping the fuse box when running the hair dryer and space heater at the same time. It was entertaining.
While my husband was in college full time we lived in a three bedroom apartment for one year and paid $1,000 in rent. We decided to buy a mobile home for 10,000. Our house payment was $212 in our lot rent was $315. It was so much more affordable! 2 years later when you graduated we sold the trailer for 12,000 we made money on it 😁 I love living at that trailer park it had a park and a swimming pool, which is great since we had two young children at the time
I’m 26 and have $24,000 saved up right now making $38,000 a year. There’s no houses within 50 miles of me that are less than $100,000 and I might be forced to buy a mobile home in the coming months, now I’m not sure what to do. I literally can’t afford anything that’s not a mobile home. Thanks blackrock.
We live in a double wide mobile home. Paid off, thank the Lord. NICE. Also, we had a $6000 underground storm shelter installed that is paid off. We enjoy our home and thank You, Jesus! Maria in South Carolina
If you keep up with your mobile home, I see no issue living in one. Property taxes are way lower in a mobile home, and so is house insurance. So you either save all that extra money while you’re still living, working and able to build cash wealth to enjoy life. Or buy a house, be house poor with higher taxes and insurance and make more money when you sell when you’re old. Usually that profit goes to medical needs or nursing homes by then.
That's what I was thinking. Buy the 2 acres, or sublet a portion and buy that--this way mom & dad still have good property and Phillip gets some land for himself to build on.
I currently live in a mobile home that I paid 20k for new in 1999. I’m self building a house which is a slow process but I’m more proud of being debt free than any shame associated with my 25 year old bottom of the line trailer. I can be in debt anytime I want, the opposite isn’t true. When I was in debt I couldn’t be debt free anytime I wanted.
I'll be staying put in my brand new manufactured home on my 2 acres of fenced land 35 miles outside ofnthe city where my nearest neighbor is 1 mile away. Ya'll can enjoy being a renter in the city fighting over parking spots & loud music at 2 AM 😂
Right. Where i live, you can get a nice 2 or 3 bedrooms singlewide for like 15k. It might be 10 to 20 years old but hell I would rather pay the flat out 15 or so thousand and have a peaceful place to live that I own than pay 1200 in rent for a small 2 bedroom in the city. The only way this is beneficial is if there is no lot rent. Paid off at 15k no lot rent either. Live there 10 years and just save, save, save.
I had to live in a mobile home for a while. I was very happy to get into it and I was very happy to get out of it. It was a good place to live for a while.
I once lived in an old house that was eat up from termites. I had one room blocked off because it was in bad shape and wind blew through the walls. Everyday I was thankful I wasn’t homeless. Now I’m making good money and building my own house out of pocket without debt tied to it.
I used to live in a mobile home as a kid and as I grew up I noticed yea some people had bigger homes and homes with garages but guess what, everything on top of their phone was financed by their parents and nothing really in their garage was owned so if I have to buy a mobile home to start or rent until I have enough to buy a home within my means then I’d rather do that then have a big cookie cutter house and have to finance a 1000 phone because I don’t have enough cash on hand to even buy it outright
yup. some people have more money (or at least access to others' cash...) than brains. maintain it, repair it, live in it like an adult, enjoy having something that's yours. And a life you can afford without debt. 😁
I love Dave Ramsey, I have read some of his books. I am an old baby boomer myself. He is not right about mobile homes though! I have lived in stick built and mobile homes, bought and sold many homes over my life. I have ALWAYS made money when I have flipped mobile homes on their own land! I live in a state with very high median home prices, and rental prices. If I wanted to sell my mobile home with a huge garage on my own land right now, I would be swamped with buyers…..housing is precious here.
Husband & I are saving to buy property to put a mobile home or tiny house on it, whichever is cheaper with more space, no hate on the mobile home! Grass is always greener, I suppose. 10 years from now, he could save money to buy whatever if he can't stay or buy family land.
@@aolvaar8792 Does your "city" allow people to save money on real food by growing it their own way and not of the masses of people that only know 1 or 2 ways to do it? There are better ways that take less maintenance and beter for the soil and building it better ,Thats what need sot be built back better!!!!
I lived in a mobile home years ago. It was a nice 3 bedroom, 1 bath. Bought it outright. I sold it after 6 years of owning. Only wished I had kept it a little longer.
Modular homes can and do absolutely go up in value. They are better than some stick built homes. 9 ft ceilings, stick built with drywall and all when you go inside you can't tell they were built to be moved si higher standards than alot of houses.
I lived in a mobile home for 9 years. It was way cool than any of my buddies ratty ass apartments and it was bigger. I also had a garage. It's what you make it and it's affordable.
23 years living in a Mobile home,,,,, raised my wifes grand kids here, its a small place (55x14), now im alone (wife passed away), and really, it was the best thing ive ever done,,,
Remember that people who live in dingy gray apartments in NYC that cost $5k A MONTH to live like rats look down on you. Seriously? Your quality of life is way higher. BTW Dave, there is a big community of people who redo old mobile homes and make them terrific. Especially if you’re a minimalist not being nagged for some McMansion that’s junky.
Rude and inaccurate comment to say New Yorkers (“all” is your implication) look down on that. People choose to live differently, but good people don’t look down on others for their choices. So…stop it.
In the Tennessee market my $13,000 trailer I bought new is worth more than I paid for it. There was a bidding war on the one I helped sell across the street.
Living in a mobile home is sth not to be ashamed of as long as it's clean, comfortable and peaceful. bro, you are beyond blessed than other people. what you have is somebody else's prayer.
Moving forward is never shameful. The big person at the gym isn't shameful. The big person watching the view eating bon bons is. The person working entry level isn't shameful. They are still contributing. The person that refuses to work is. You're a productive guy moving forward, be proud.
And it is never shameful to say, I've reached a point where all my needs are met, I'm being productive, and I don't feel the desire to move forward from this point, I'm satisfied with what I have accomplished and what I have.
"an ancient, rotting down mobile home..." thanks, dave, from all who live in great mobile homes. americans have a really built-in contempt for this and i don't know why. for the past 25 yrs i think it's now a type of snobbery. if the place is maintained, repaired, clean, good shelter from the elements, then what the hell is the problem?
I think because older mobile homes pre-mid-1970's had no standards and were really built like trash. I owned one and it was terrible. But it was on a hunting property so didnt care. Those only fall apart and go down in value. But newer ones built to HUD standards are as good as any stuck and brick home if you take care of it.
It's nothing to feel ashamed about. My sister live in a double wide on her own land. she have no mortgage. As long as you and your kids have a roof over your head that's the most important part.
Dave, I’ve been watching your short videos over the last week, and it’s occurred to me that I definitely need to get sorted as soon as possible, I won’t go into too much detail in a comment thread, but I’ve downloaded your app and I’m going to try and work through my finances to get on the right track to a sustainable financial future. Thank you for all you do!
At 18 my mom purchased a 1996, 1800 sq ft. mobile home for 22000$ and put it on 2 acres. I paid her for the mobile home and she gifted me the land. Got married and my husband built a garage and asphalt to the driveway. We did a little remodeling and sold it 20 years later for 189,000$ in hand. We were grateful for the profit we made and the buyers were very pleased also. We could have sold it for at least 25 grand more but this was what we agreed on.
Mobile homes are going up in value in my area because of how much rent and real estate has gone up. I paid 29,900 for my 3 bedroom 2 bath mobile home. The mobile homes in my community are selling for 65,000 that have similar space. I have a large 2.5 car garage and car port which also adds value to my home. I agree with Dave about this not being a good long term play since I don’t own the land. My home is paid for so we will begin saving for a house once I’m done cash flowing college. I plan to stay where I am till I can cash flow my future home.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
4 years ago, I was living paycheck to paycheck, working 40 hours a week. I was a high school dropout with a GED and had a 489 credit score, along with an eviction, repossession, and collections. I got into real estate but encountered unqualified clients who couldn't qualify for a mortgage due to their credit. I found this home-based business here on RUclips, and it just made sense.
Investment is currently the most lucrative business in the world. Both real estate, Stock, and Cryptocurrencies are positively changing people's lives.
Im homeless driving a truck...ive lived in a mobile home and in a mansion and in tne end none of it really matters. Especially if your home has no peace in it .
Having a place to lay your head is nothing to be ashamed of. Anyone who dunks on people living there are just keeping up with the jones types who live to try and impress people
What everyone has to remember different people listening to this show has different incomes and what works for you works for you. I love in a beautiful community for 55 and over and Aboustly love it! Remember do what makes you Happy because you surely can't take it with you !
I don't understand this mobile home stigma but it needs to go. Mobile homes are such a cool invention to me. Affordable shelter thata decent? It's a free market and the free market creates solutions for every budget and purpose. Do your thing. We got to move past this whole judging people based on their economic status thing. Besides there could be people living in mobile homes with tons of money but they do it so they can save more aggressively. Just like often the person in the beater car actually is a millionaire
Let me help you: Everyday millionaires takes in Home Value, Mobile homes usually do not rise in Value. Very hard to become an EDM without an appreciating home. In 2010, I bought an unmarketable Fannie Mae foreclosure for $50K, Now $500K Mobile homes don't 10X.
@aolvaar8792 I'm aware of that mobile homes don't build equity. You have to own the land for there to be equity. I'm a financial counselor I actually do essentially what Dave does over the phone for people but not on a show. That doesn't change the fact that there is a stigma about living in this particular type of structure regardless of whether it's on a leased lot or whether it's on owned land. A mobile home on own land is perfectly fine. There should be no stigma in general about mobile homes whether the person owns it or not. Whether someone is building equity or not should not carry a stigma. It's just one stepping stone on the way to building wealth.
@@aolvaar8792 depends where the mobile home is located to determine whether it 10x's. Many properties bought in 2010 during the absolute bottom of the housing market foreclosures have 10x easily. The thing is that people who buy a mobile in a good area and invest their extra money will become an every day millionaire quicker than a homeowner who is less able to invest. Stock markets perform way better than housing markets in the long run. another thought is why mobiles would go up in value slower than a typical house. is it because mostly poorer people own mobiles and dont take care of them and the neighborhoods are less attractive? I can tell you that its the same in regular neighborhoods as well if you live in a bad area. those homes appreciate much slower than a mobine in a nicer area on ones own land. Houses can have little to zero value on land as well. no different than a mobile.
Do you all know that Barbara Corcoran worth $100 million owns a Mobile/Manufactured home in Malibu, CA?? She loves it! Manufactured homes are fantastic! It's just like any form of housing or automobiles - you pick and choose your lifestyle, car and home style, etc. I've owner 4 in the last 14 years and made money on them all! If you can own the land even better. I highly encourage this caller to stay the course. Possibly his parents would deed the land over to him. If the local is good then build his own place. He seemed to indicate that it was on a couple of acres - if so the better. Build away from the existing manufactured home, but on the property, and then fix it up as a guest house, rent it out, or if it's really old and no good scrap out the metal. It all depends on the age, but after 1976 the sidewalls are all 2x6. There are several individuals that enjoy rehabbing manufactured homes by taking them down to the studs. Sounds like the caller is smart and savey with many options. Some of the 1980 - 2000 Manufactured homes are full of expensive options.
My husband and I lived in a mobile home for 21 years and we were never ashamed about our living arrangements. We raised our three children there and they never complained. We purchased our present permanent home in 2011 and paid off our mortgage in just seven and a half years. Now we are retired and enjoying our home that we worked so hard for and waited so long to buy. Sometimes waiting for the good things makes us more thankful!
Nothing to be ashamed of your lucky to have a home to go when night's are Cold God bless you ❤
I bought a new double wide in 1997 for $31,000. It has 4 bedrooms. It’s my forever home. Doesn’t matter if it goes up or down in value. Better than throwing away money on rent.
❤ I agree w you. The whole picture was not painted here. If you put a nice paid-for mobile home on a piece of land in the countryside which is also paid off and taxes are low, you have a good situation --- as long as you maintain it really well and do not plan on selling. Not everyone needs to be rich. For some good enough is good enough. The costs of repair and maintenance on a regular house is very high. Not so on a good mobile home--if you keep maintainingit. It's all doable and taxes are low. It can be a very good option.
Exactly! Had you bought a house, you would have paid more than the value of the house just in interest. And I'll bet that your double-wide IS worth a good deal more than you paid for it. I don't understand how Dave- who says that he eschews debt, would have someone engage in the height of debt slavery: a mortgage, rather than living for next to nothing in a MH.
@@bobbylibertini at the time I bought it, a house of same layout and size would’ve been 3x the price. Paying 3x price plus interest is not good math. Regardless of up or down in value. $31k paid off is $50k, a house at $100k is $165k paid off. So a real house has to go up a lot farther in value to equal out.
@@davesrvchannel4717 Exact-O-mundo! I paid $12K cash for my singlewide 23 years ago. I wouldn't care if it's worth zero today....I've lived in it for 23 years for virtually $0.00 - and no interest. Paying 23 years of interest, or worse yet, renting for 23 years, I would have LOST a lot of money in interest or rent; but instead, I saved that money. But the real benefit is the freedom one has when they aren't in debt and always have a place to live- No, didn't have to take that clot-shot or kiss anybody's chooch because if the SHTF, all I have to do is pay water and electric. THAT freedom is what not being in debt is all about, and I wouldn't give it up just to acquire something that may go up in value, while what I'm truly paying for it (interest) ensures that I'd still suffer a net loss. No wonder Dave went bankrupt!
@@bobbylibertini Dave’s issue with mobile homes isn’t the home itself. It’s that the land is usually owned by a park manager. Mobile homes are usually cheaply built too. Not great in states where it rains and snows a lot.
Poor guy, on top of everything else worrying about what other people think. Normal mature people will only admire a person who takes good care of their kids and doesn't go into debt to impress others. Good job, man.
Thank you so much for stating pure 100% fact! This caller has it made and has wonderful parents! My prayer is that he understands how blessed he is - he's right where he belongs and has the backing of his closet friends and allies - his parents! This is worth it's weight in gold❤
I agree. Who cares what people think.
Who cares what people think. I don’t want to own a house or land.
Poor guy? He makes over $80,000, no debt, and has $22,000 in savings. Mommy and daddy saved him in a time of crisis after his ex-wife probably filed for divorce, as women typically do more than men. *He didn't lose anything* . He's extremely lucky. Ya'll acting like he's scratching and surviving.
My Dad always told me that it’s none of your business what other people think of you. I always thought it was a pretty wise outlook on others’ opinion of you and the way they treat you accordingly. As common sensical as it sounded, it was much more difficult to put into practice. It’s even more difficult to quit worrying about what others think of you without feeling like you’re surrounded by idiots and feeling contempt towards those people
I love my mobile home and created a RUclips channel about it. Now it is paying my way to success!
Hi Tessie, I love your channel. You've taught me so much.
Ohhh yippee let me subscribe ✅
Subscribed!😊
Hello Tessie!! ❤
I enjoy your channel.
I agree with Dave, However i sold a nice brick home 21 miles away and purchased a Extremely nice mobile home sitting on almost 5 acres out in the country area
almost 12 years ago for $99.000. Today it is valued at $259.000 after having it appraised. with NO neighbors to deal with, Peace and harmony. Lots of deer, squirrels, fox. It looks like a State Park. I could care less what anyone thinks as i sit on the porch naked drinking coffee and 100% Debt free. Life is SO GREAT.
Thanks for the comment. I did almost exactly the same thing.
Great if you have your own land. Great either way. Trailers are fine but Dave made a good point. Have to look to the future.
that's sounds absolutely amazing I strive to have that one day
I did the opposite. I bought a $125,000 5 acre mobile home in 2016. Sold it in 2020 for $225,000. Bought 30 acres and a brick home with basement. I'll have it paid off in the next 3 to 5 years. Im only 38. I can pee and run around naked if I wanted too also. ALl the neighbors own 75 acres or more. The guy next door has 250, and NO home on it. Im spoiled rotten.
Amen, Toby! Living the GOOD LIFE! 🙋♀️
Coworker makes $150k/year and lives in a paid-off mobile home. He has zero debt and about to retire. He loves his mobile home and will never leave. I see zero issues in living in a paid-off mobile home.
They're easier to maintain and less expensive to do so!
@@deanaburnham9571Well, speaking from experience having owned a house years ago before the divorce....and now Living in my mobile home for the past 15 years, I would prefer going back to a real home. Older houses are built much better and last several lifetimes! I am constantly fixing or repairing leaks in the roof/ceiling, replacing tubs that crack and leak, pipes that fail under the mobile leaking (really sucks in the winter crawling outside under all that mess!). The mobile keeps sinking becoming unlevel. And its very cold in here in the winters as the insulation is all rotted away and wind-torn underneath! I do all the repairs myself and you'd be worried if you ever had to tear apart any walls like I've had to do and see what's behind there! The structure is made of really thin wood like 1/2"x 2"! That's really flimsy and not going to protect you from harm if you have a bad storm. Trust me I know. This year I had a really strong storm that tore my metal shed off it's wooden floor and flung into my mobile home it went through the metal outside into the home and made a 6'x9' hole as the rain poured and the wind blew into my home! What a mess! There's always problems that need fixing and I'm tired of it. Vowed I'll never buy a mobile again...has to be an older home built well with real plywood, stone or bricks! Lol!
You are so right I love my paid off mobile home!!!
Precisely....no issues at all.
@@shonuf5152 That is until strong winds hit it...or a fallen tree? And it starts leaking everywhere a few years down the road and your constantly having to fix stuff! They just don't hold up these days as they're made out of crap materials that rot quickly!
I raised my kids in one. We were warm, happy and I could afford it. No shame, only good memories.
Social Media praises people living in cars and vans and yet trailers are still stigmatized.. ridiculous world we live in
😄
True.
"Trailer" is the old timer mentality - pre 1976 - before HUD regulations. Unfortunately, as a whole, this bad vibe continues to this day. Actually, as with any home or vehicle, as the years go by they get better and better. Trailers started as RVs. After 1976 they became Mobile homes. The name Mobile home began to transition into Manufactured home in the early 2000s.
So try buying a tiny home... Which is mobile..
Amen!!
We started 48 years ago in a 10x40 trailer. We now own 3 properties and a wheat farm. No shame in trailer homes. They serve a purpose.
Spot on! I lived in them while going through college, and for 2 post graduate degrees and Post-doctoral work. I now make well into six figures and have a net worth of well over seven figures.
Boomer here, this is mored than a housing crisis. More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve my financial goals.
Annette Christine Conte is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
@@jeffDwyer1 Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
My parents bought a double wide. I eventually put a foundation under it so it’s no longer considered mobile, and the land and house went from being worth $100,000 to almost $500,000. Absolutely nothing wrong with mobile homes. If I had a choice between a mobile home and an apartment, I’ll take a mobile home every single time.
I purchased mine in 2004 2000 sq ft. put on a foundation and bought an acre all for $138k now worth $500k here in colorado
I'd be interested to run comps of the same scenario, but with a stick built house to see what it's worth today. Mobiles are always mobiles, even when treated as permanently fixed for purposes of lending and taxing. There's a spot on the MLS listing contract where you have to indicate if the house is a mobile, even a permanently affixed mobile still has to check the box that it's a mobile. Let's not kid ourselves. There's a reason for that.... fair or unfair. People want to know.
I live in a mobile home with a household income just shy of 200k. No debt and all the room I need. Absolutely do not care what anyone else thinks.
your lucky.
@@Ap_twshRight? Imagine just being able to pay for any repairs instantly with cash. And whoever owns a trailer without having to pay lot rent is also very lucky.
I like your attitude. Nothing wrong with mobile homes.
Exactly.
Way to go!!!
My first home was a 20 year old mobile home, that I set on 6 acres of land I bought and paid for, and we lived in it for 3 years . I spent money underpinning it, remodeling it inside and out. And everyone who saw it always commented on how pretty it was.
My wife had issues with it, but not me.
I sold it for 5 times what I had in it when we built and moved into our home. I was never ashamed of it!
Just be grateful for what you have. Everybody's path in life is different; everything will fall into place if you keep grinding and be patient!
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
Could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation, and I'm seeking a more lucrative investment strategy to effectively utilize them.
'Melissa Terri Swayne is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
Thank you for the information. I conducted my own research on google and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
Dave needs to do more research on newer mobile homes. As of 1976, they have to pass the same building code as any house. If you buy any built after that, take care of it and (obviously) own the land, absolutely it will go up in value.
❤And maintenance is easier and less expensive in many cases. Dave wants people to have the same values in terms of get richer. ..sometimes good enough is just fan-tast-ic!
Boomer is simply opinionated and stuck in his boomer ways
I’m happy in mine and it has gone up in value on a rented lot. I also own 10 ac of land that has gone up too. From 13 to 140 grand.
They are a depreciating asset due to having a title, it’s nothing more than that. Horrible wealth building tool. The land it is under is all that usually goes up in value. Not saying you are losing money, but I definitely lost value on the one I lived in.
The trick is, don't go crazy when you buy one. Don't buy the biggest and fancy one. Keep it up and repair when needed. Even a regular house needs that. I spend 350 bucks a month now. Not hard to save up a few bucks when you don't pay 1500 a month or more for a roof over your head. I'm in the city and less than 5 minutes from downtown or Walmart.
My parents raised us in a mobile home. I sure do miss that house. My dad even built a garage, office, and deck onto it
I am a faithful Dave Ramsey listener. I am glad to see on this call that he and Ken were kind to the caller. I have heard them Both make fun of people living in mobile homes. In Washington state where I live mobile homes do NOT go down in value they go UP. Even if they're in a park with space rent. My husband and I are almost at retirement and live in an older mobile home in a 55 plus park. Our living expenses are SO low, we might stay here for years to come. 100% Don't care what people say or think about our choice on where to live. The median price for a home here where I live is $450,000. We Choose Not to invest that much of our wealth into our home. Grateful and content here❤️
When I got divorced, I could only afford a mobile home, and I was so grateful to have a roof over my head. I moved on to a house, but that mobile home was the stepping stone that I needed.
Ashamed?! This dudes blessed! Said he makes over 80K a year, he can bank tons of money living in his parents moblie home for a few years! I'd say be proud & grateful for blessings of family support!
Amen
He is very fortunate. The only shame is that he's ashamed.
I live in a 35ft travel trailer and make over 100K per year. I just downsized to it 4 months and there were some bumps in road but I love how much I am saving each month. In my area renting a bedroom is $1k per month and I would have to share a home with 2 or 3 other people. I bought a 2021 keystone trailer trailer for $22K and where I'm renting a spot costs me $500 per month and that includes everything. Once it paid off in 3 years, my static expenses per month will be under $600 per month which will allow me to invest enough to retire within 10 years. I have no shame.
Good plan. 👍 Congrats
No need to. Shelter is shelter and people need to quit knocking down people for living in mobile homes.
One of the most liberating feelings is to not give a crap what other people think. If these people are insignificant to your life, then forget about them.
Who is knocking him down? Not other people.
He is knocking himself down. This is self inflicted.
I'm doing better than 90% of my peers 😂 and will never worry about a roof over my head. I own 5 cars (4 paid off) on 2 acres of fenced land with my closest neighbor 1 mile away. I would LOVE some 1 to say some 💩. I go on vacation once a year & have 5k in savings at all times.
@@froggiman1
It is Dave's Mindset because EDM take the home value into consideration.
Imagine, if your employer gives you FREE housing, Residential home.
@@froggiman1 Dave and Ken is.
I bought a double wide on land many years ago. I bought it for the land not the house. Now as a senior my place is worth 4 times what I paid and I dont need a large house. My taxes are low and my homeowners insurance only increased $5/month. Most people increased by $200/month per my insurance agent. I have never felt ashamed. I feel grateful.
Your situation is my goal for retirement!! Congratulations!!
My understanding is that repairs and maintenance are much easier to do and cost less. Is that your experience?
@deanaburnham9571 yes. Taxes and insurance much lower as well. New roof metal much cheaper than traditional shingles. I realized I made a wise choice when many 😌 said I didn't. Many of them lost homes they could not afford.
My dad raised us in a mobile home. He made $10 an hour and made it work. Fast forward to today, he makes over $100k and is a home owner. Keep going!
There are some beautiful affordable mobile homes out there. If it’s yours and helps you be debt free you’re on a good path.
I just sold my 4 bedroom brick home ans bought a 2 bedroom single wide and I love it !!!!
If your home is clean and comfortable and your family is happy, that sounds like something to be proud of. Kids have no idea what to be ashamed of unless you tell them.
I live in a double wide/ 1.6 acres.. everything paid for and 1.5mil in 401k. And, by the way, the property/ mhome has went from 65K to 300K in 30yrs.
Their are so many people living under bridges and in tents. Be grateful that you have a covering. You can always upgrade.
Dave is wrong here. Today, some mobile homes that were worth $30k 10 years ago are now worth $200k today in California. I'm seeing some sell for 350k, which was unimaginable 10 years ago. Even fixer uppers are selling for a lot.
Dave, You are wrong on this. It's just like stick built real estate, but Manufactured homes aren't in your arena so you don't understand the total picture.
Additionally, depreciation is not a major concern when you’re just trying to keep your family from living on the street…
@@aaronschmeling1414You are so correct! Also, when the manufactured home's interior and exterior are kept up to date and clean you will be able to sell it for a good decent price if you own it.
I paid 18,000 for my mobile home 10 years ago. Today it’s worth 35,000.
If the mobile home is taken care of, it doesn't loose it's value.
I still drive a 20 year old Honda. I am not concerned with impressing anyone. Its paid for. Will drive it till i cant anymore.
Same with my 2001 Toyota Corolla. Surprisingly, a lot of people have offered to buy it, even though it's a beater and it's a stick shift. People are catching on to how I save on gas and car payments. I need a new strategy.
Hondas will run practically forever if you don’t wreck them or let them get rusty. Ask me how I know!
Good. Same. But just like cars, mobile homes do not go up in value
I totally disagree we bought ours for 55k and now can sell it for over 200k ! It all depends on the area !
The mobile home or the land??
We’ve had ours for 3 years and it went up 15k in value in that time period along with the taxes 🤦🏼♀️
If I had a mobile home and the land was also mine I would be in heaven.
WITH a good income 👍
I inherited a single wide mobile home on a small piece of property in a rural town. Best place I've EVER lived in or at. NO rent. NO noisy, rude, or crude neighbors. NO having to be afraid to sit outside and enjoy a quiet, starry summer night in peace and safety. I'm starting a garden in my backyard, that's fenced in and pest free. Living in a mobile pays less in taxes than a fixed house, another plus. So don't look down on those who live in any kind of mobile home, it has more + than - .😁💯🇺🇲
@DeborahEvans Super!!
The idea that these mobile homes or prefab etc don't last is not true. They're made differently and require upkeep like any other home--which BTW as you know is much less expensive if they're not neglected. And they're every bit worth the investment of upkeep. Some do enhance the land when it's time to sell. For many retirees it's their forever home and that's great too if the maintenance is continuously up to date.
So glad you found the perfect option because you're enjoying your choices! The smart model of 50, or 25 years ago is not going to work for people today. Creative minds will find options that are affordable, quality, and beautiful! Like it or not, Daves vision cannot work for everyone, but his idea of not getting into debt, and work smarter not harder, is gold of course.
That is nothing to be ashamed of. 😂😂😂 It’s a blessing. He’s in a position to save money.
I love my mobile home. I'm greatful to have it. It's a decent home.
As long as you're living an honest life, then you shouldn't be ashamed about where you live.
I lived in a company dormitory for years + Free Cafeteria + subsidized alcohol & tobacco, free condoms
60 hours/week, 8 weeks on, 2 weeks off
100%. Respect the hell out of hard working people. I’m glad he got a good spot to land and is working on improving his life for his kids and himself.
Buy the 2 acres. Live in the mobile, till you saved up enough to build your own house on the property!
Save the mobile, your Teenage kids will love living there, (you will love not having them under the same roof).
That sounds like a plan, however, there are kids. And kids go to school. 2 acres sounds like living off the beaten track. After that is sounds like not that good idea
@@kovalenkoihor4325 Buying a house in a cramped development with houses 5ft away ain’t it!
I understand Dave is in real estate. I know many people who live in mobile homes. Lots of farmers live in them. My aunt and uncle lived in one for 39 years. Their front door emptied to the Pacific Ocean 🎉
The only time I'd say it isn't good to live in a mobile home is when it's on someone else's property or in a park. There's nothing wrong with living in one on your OWN property
I lived in a trailer for 10 years. Had literally no problem with it other than it was a trailer park and the lots are small. I’d take a single wide on 5 acres of land in the country over a house on a 1/4 acre in subdivision any day of the week.
A 250 sq ft studio in Seattle will start you at $1600, not including utilities. Once you stop caring what others think you’re actually living your own life
1600$ for broom closet 😅
@ I’d take a mobile home anyday over that. People worried about perception when they’re broke is just baffling
Same for 400 sq ft studio across the country in NH
I was renting a 250-300sqft micro apartment during the 90s and early 2000s in Hong Kong with no issues. Got strange looks and not very good comments when I told people this back home but never bothered me.
First time I was alone for one month. Second stay for two months with girlfriend who didn't mind it at all and part of the reason we are still together.
Safe,good wifi, wet bath,mini kitchen,washing machine,and nice balcony overlooking a garden. Close to subway station,Star Ferry,market,retaurants,Golds gym,cha chaan teng,etc. so no issue.
Exactly 💯
Those few words of encouragement and acknowledgement sound like they meant the world to him. Never miss an opportunity to build someone up, it may be the first time they've heard it.
Hmm, paid for home and all I'm paying for is utilities? I'll keep it and bank the difference until I can pay cash for a house.
People need to stop caring what others think it’s vain
Where we live, manufactured homes are pretty common. We have an acre, our three kids are very happy.
Modern mobile homes can easily be modular homes. Just put down a concrete foundation and add utilities and you instantly add 5 times the value.
I have a remodeled 1986 Clayton Home on 18 acres, and I LOVE IT! No debt, no stress.
I love it !! No stress
Lived in an rv for 10 years in Alaska & lived in a rental mobile home for a year & owned a modular home on land for a couple years & it worked for us at the time but was never ashamed of it.
Stepping stones & choices & decisions in life & sometimes we get hit full on with LIFE & some of it is very unexpected & cannot be planned & prepared for no matter what.
This is a nice stepping stone. Show gratitude and take the oportunity to better the future of your children.
He's doing better than 99% of the other people that live in a mobile home
I lived in a mobile home and it was ok at the time I was trying to move up in the world. I remember the cold drafty windows. Freezing pipes in the winter. Coyotes sleeping underneath behind the skirting. Tripping the fuse box when running the hair dryer and space heater at the same time. It was entertaining.
While my husband was in college full time we lived in a three bedroom apartment for one year and paid $1,000 in rent. We decided to buy a mobile home for 10,000. Our house payment was $212 in our lot rent was $315. It was so much more affordable! 2 years later when you graduated we sold the trailer for 12,000 we made money on it 😁 I love living at that trailer park it had a park and a swimming pool, which is great since we had two young children at the time
Why are people ashamed of Mobile Homes? Some are built better than regular build
Great video, super helpful! We all appreciate your consistency. Wishing everyone here an early Happy New Year and a belated Merry Christmas
@JamesFardinthey do friend
I just looked them up
I did read the Helpful advice on there for more understanding about them
How can we connect with them cos I’m lost on there
It’s either Pa Needed or Mr-Alen
Dude a home is a home! You make a good living my guy.
I’m 26 and have $24,000 saved up right now making $38,000 a year. There’s no houses within 50 miles of me that are less than $100,000 and I might be forced to buy a mobile home in the coming months, now I’m not sure what to do. I literally can’t afford anything that’s not a mobile home. Thanks blackrock.
Same, mh are $200k in my area. All houses are $500k+.
We live in a double wide mobile home. Paid off, thank the Lord. NICE. Also, we had a $6000 underground storm shelter installed that is paid off. We enjoy our home and thank You, Jesus! Maria in South Carolina
If you keep up with your mobile home, I see no issue living in one. Property taxes are way lower in a mobile home, and so is house insurance. So you either save all that extra money while you’re still living, working and able to build cash wealth to enjoy life. Or buy a house, be house poor with higher taxes and insurance and make more money when you sell when you’re old. Usually that profit goes to medical needs or nursing homes by then.
The best bit of home ownership advice I’ve heard, from a debt collector: the best kind of home you can buy is the one you can afford.
And that means a MH if that's what you can afford.
Why doesn't he ask mom and dad if he can buy the 2 acres the mobile home is on? Save to build a small home ❤
That's what I was thinking. Buy the 2 acres, or sublet a portion and buy that--this way mom & dad still have good property and Phillip gets some land for himself to build on.
Phillip you doing well sir! Can't wait for your to purchase your first home! You got this!
This guy needs a lesson in gratitude and manners. He's basically insulting all those who live in mobile homes
I currently live in a mobile home that I paid 20k for new in 1999. I’m self building a house which is a slow process but I’m more proud of being debt free than any shame associated with my 25 year old bottom of the line trailer.
I can be in debt anytime I want, the opposite isn’t true. When I was in debt I couldn’t be debt free anytime I wanted.
I’d rather live in a mobile home than pay any dumb land lord overpriced rent
You just sound jealous of landlords tbh
I'll be staying put in my brand new manufactured home on my 2 acres of fenced land 35 miles outside ofnthe city where my nearest neighbor is 1 mile away. Ya'll can enjoy being a renter in the city fighting over parking spots & loud music at 2 AM 😂
@@AndrewW-if5mr not really jealousy, I don’t ever want to be a land lord 🤮
@@isaacchavez1425amen to that!
Right. Where i live, you can get a nice 2 or 3 bedrooms singlewide for like 15k. It might be 10 to 20 years old but hell I would rather pay the flat out 15 or so thousand and have a peaceful place to live that I own than pay 1200 in rent for a small 2 bedroom in the city. The only way this is beneficial is if there is no lot rent. Paid off at 15k no lot rent either. Live there 10 years and just save, save, save.
I had to live in a mobile home for a while. I was very happy to get into it and I was very happy to get out of it. It was a good place to live for a while.
Why not see about buying the acres, live in the mobile home while building a house??
I once lived in an old house that was eat up from termites. I had one room blocked off because it was in bad shape and wind blew through the walls. Everyday I was thankful I wasn’t homeless. Now I’m making good money and building my own house out of pocket without debt tied to it.
I used to live in a mobile home as a kid and as I grew up I noticed yea some people had bigger homes and homes with garages but guess what, everything on top of their phone was financed by their parents and nothing really in their garage was owned so if I have to buy a mobile home to start or rent until I have enough to buy a home within my means then I’d rather do that then have a big cookie cutter house and have to finance a 1000 phone because I don’t have enough cash on hand to even buy it outright
yup. some people have more money (or at least access to others' cash...) than brains. maintain it, repair it, live in it like an adult, enjoy having something that's yours.
And a life you can afford without debt. 😁
I love Dave Ramsey, I have read some of his books. I am an old baby boomer myself. He is not right about mobile homes though! I have lived in stick built and mobile homes, bought and sold many homes over my life. I have ALWAYS made money when I have flipped mobile homes on their own land! I live in a state with very high median home prices, and rental prices. If I wanted to sell my mobile home with a huge garage on my own land right now, I would be swamped with buyers…..housing is precious here.
Husband & I are saving to buy property to put a mobile home or tiny house on it, whichever is cheaper with more space, no hate on the mobile home! Grass is always greener, I suppose. 10 years from now, he could save money to buy whatever if he can't stay or buy family land.
Mobile homes are a great way of living in an affordable rural setting. You don't need a $200k house.
My "City" sells residential lots for $25-30K
(2-hour drive to a town over 10K population.)
houses are a lot more expensive than 200k now grandpa. mobile homes are damn near 200k lol
@@aolvaar8792 Does your "city" allow people to save money on real food by growing it their own way and not of the masses of people that only know 1 or 2 ways to do it? There are better ways that take less maintenance and beter for the soil and building it better ,Thats what need sot be built back better!!!!
My grandparents house is worth 103,000$
I lived in a mobile home years ago. It was a nice 3 bedroom, 1 bath. Bought it outright. I sold it after 6 years of owning. Only wished I had kept it a little longer.
Modular homes can and do absolutely go up in value. They are better than some stick built homes. 9 ft ceilings, stick built with drywall and all when you go inside you can't tell they were built to be moved si higher standards than alot of houses.
my double wide is a lot nicer than most homes in the area I grew up.
The sooner in life you can completely stop caring about what others think the better your life will be.
I lived in a mobile home for 9 years. It was way cool than any of my buddies ratty ass apartments and it was bigger. I also had a garage. It's what you make it and it's affordable.
23 years living in a Mobile home,,,,, raised my wifes grand kids here, its a small place (55x14), now im alone (wife passed away), and really, it was the best thing ive ever done,,,
He said it was worth about 4 grand. So he had a roof over their heads, and a way to build up a house fund.
Amen, be thankful.
There's nothing to be ashamed of. He's in a great situation that allows him to save money toward the purchase of a home that will appreciate in value.
Dave’s right, lick the wounds (emotionally and financial), rebuild and move on. We all landed somewhere after these events but do recover.
Remember that people who live in dingy gray apartments in NYC that cost $5k A MONTH to live like rats look down on you. Seriously? Your quality of life is way higher. BTW Dave, there is a big community of people who redo old mobile homes and make them terrific. Especially if you’re a minimalist not being nagged for some McMansion that’s junky.
why you have to criticize someone for paying NYC rent? It is there choice.
Rude and inaccurate comment to say New Yorkers (“all” is your implication) look down on that. People choose to live differently, but good people don’t look down on others for their choices. So…stop it.
@@Person-mh6xq😊
@@Person-mh6xqThe good people in NEW York City are unfortunately not the majority. New York City is a cesspool.
In the Tennessee market my $13,000 trailer I bought new is worth more than I paid for it. There was a bidding war on the one I helped sell across the street.
Living in a mobile home is sth not to be ashamed of as long as it's clean, comfortable and peaceful. bro, you are beyond blessed than other people. what you have is somebody else's prayer.
Moving forward is never shameful. The big person at the gym isn't shameful. The big person watching the view eating bon bons is. The person working entry level isn't shameful. They are still contributing. The person that refuses to work is. You're a productive guy moving forward, be proud.
And it is never shameful to say, I've reached a point where all my needs are met, I'm being productive, and I don't feel the desire to move forward from this point, I'm satisfied with what I have accomplished and what I have.
Love the way you wrote that…so true!
I grew up in a mobile home, there is nothing wrong with that, please don’t feel ashamed.
Most of those are better than my house.
I'd love some 1 to tell me otherwise. Especially Dave ramsey. This goon is the epitome of encouragement to live a rat race life.
@@melchezi8818 Also tract homes built over the past decade (or two lol) define “ramshackle” albeit with shiny granite countertops.
"an ancient, rotting down mobile home..." thanks, dave, from all who live in great mobile homes. americans have a really built-in contempt for this and i don't know why. for the past 25 yrs i think it's now a type of snobbery. if the place is maintained, repaired, clean, good shelter from the elements, then what the hell is the problem?
I think because older mobile homes pre-mid-1970's had no standards and were really built like trash. I owned one and it was terrible. But it was on a hunting property so didnt care. Those only fall apart and go down in value. But newer ones built to HUD standards are as good as any stuck and brick home if you take care of it.
It's nothing to feel ashamed about. My sister live in a double wide on her own land. she have no mortgage. As long as you and your kids have a roof over your head that's the most important part.
Dave, I’ve been watching your short videos over the last week, and it’s occurred to me that I definitely need to get sorted as soon as possible, I won’t go into too much detail in a comment thread, but I’ve downloaded your app and I’m going to try and work through my finances to get on the right track to a sustainable financial future. Thank you for all you do!
We raised our kids in a mobile home. Not one bit of shame in living that way. We have a house now.
At 18 my mom purchased a 1996, 1800 sq ft. mobile home for 22000$ and put it on 2 acres. I paid her for the mobile home and she gifted me the land. Got married and my husband built a garage and asphalt to the driveway. We did a little remodeling and sold it 20 years later for 189,000$ in hand. We were grateful for the profit we made and the buyers were very pleased also. We could have sold it for at least 25 grand more but this was what we agreed on.
But he didn't have to pay anything to live there! That's VALUE!❤
Mobile homes are going up in value in my area because of how much rent and real estate has gone up. I paid 29,900 for my 3 bedroom 2 bath mobile home. The mobile homes in my community are selling for 65,000 that have similar space. I have a large 2.5 car garage and car port which also adds value to my home.
I agree with Dave about this not being a good long term play since I don’t own the land.
My home is paid for so we will begin saving for a house once I’m done cash flowing college. I plan to stay where I am till I can cash flow my future home.
I'm glad you made this video it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love
My advice to everyone is that saving is great but investment is the key to be successful imagine investing $15,000 and received $472,700.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
4 years ago, I was living paycheck to paycheck, working 40 hours a week. I was a high school dropout with a GED and had a 489 credit score, along with an eviction, repossession, and collections. I got into real estate but encountered unqualified clients who couldn't qualify for a mortgage due to their credit. I found this home-based business here on RUclips, and it just made sense.
wow this awesome I'm 47 and have been looking for ways to be successful, please how??
Investment is currently the most lucrative business in the world. Both real estate, Stock, and Cryptocurrencies are positively changing people's lives.
Im homeless driving a truck...ive lived in a mobile home and in a mansion and in tne end none of it really matters. Especially if your home has no peace in it .
Exactly guy
you have lived in a mansion? How did you wind up homeless?
@@mtbokor1969 Probably because he bought a mansion
@@sunrise7ranch85 i guess that is why he is homeless now
@@mtbokor1969life happened lol
Be proud, you are doing well in life. There is nothing to be ashamed of
I think he wants Dave to say “ just stay put”. I think he wants to stay and he wants to hear both stay and not to be ashamed. Nothing wrong with that.
Having a place to lay your head is nothing to be ashamed of. Anyone who dunks on people living there are just keeping up with the jones types who live to try and impress people
What everyone has to remember different people listening to this show has different incomes and what works for you works for you. I love in a beautiful community for 55 and over and Aboustly love it! Remember do what makes you Happy because you surely can't take it with you !
I don't understand this mobile home stigma but it needs to go. Mobile homes are such a cool invention to me. Affordable shelter thata decent? It's a free market and the free market creates solutions for every budget and purpose. Do your thing. We got to move past this whole judging people based on their economic status thing. Besides there could be people living in mobile homes with tons of money but they do it so they can save more aggressively. Just like often the person in the beater car actually is a millionaire
This is a very reasonable comment, you live how you live. Everyone is just trying to navigate life the easiest ways they can make it.
Let me help you:
Everyday millionaires takes in Home Value,
Mobile homes usually do not rise in Value.
Very hard to become an EDM without an appreciating home.
In 2010, I bought an unmarketable Fannie Mae foreclosure for $50K,
Now $500K
Mobile homes don't 10X.
@aolvaar8792 I'm aware of that mobile homes don't build equity. You have to own the land for there to be equity. I'm a financial counselor I actually do essentially what Dave does over the phone for people but not on a show. That doesn't change the fact that there is a stigma about living in this particular type of structure regardless of whether it's on a leased lot or whether it's on owned land. A mobile home on own land is perfectly fine. There should be no stigma in general about mobile homes whether the person owns it or not. Whether someone is building equity or not should not carry a stigma. It's just one stepping stone on the way to building wealth.
Exactly!!!
@@aolvaar8792 depends where the mobile home is located to determine whether it 10x's. Many properties bought in 2010 during the absolute bottom of the housing market foreclosures have 10x easily. The thing is that people who buy a mobile in a good area and invest their extra money will become an every day millionaire quicker than a homeowner who is less able to invest. Stock markets perform way better than housing markets in the long run.
another thought is why mobiles would go up in value slower than a typical house. is it because mostly poorer people own mobiles and dont take care of them and the neighborhoods are less attractive? I can tell you that its the same in regular neighborhoods as well if you live in a bad area. those homes appreciate much slower than a mobine in a nicer area on ones own land. Houses can have little to zero value on land as well. no different than a mobile.
Do you all know that Barbara Corcoran worth $100 million owns a Mobile/Manufactured home in Malibu, CA?? She loves it! Manufactured homes are fantastic! It's just like any form of housing or automobiles - you pick and choose your lifestyle, car and home style, etc. I've owner 4 in the last 14 years and made money on them all! If you can own the land even better. I highly encourage this caller to stay the course. Possibly his parents would deed the land over to him. If the local is good then build his own place. He seemed to indicate that it was on a couple of acres - if so the better. Build away from the existing manufactured home, but on the property, and then fix it up as a guest house, rent it out, or if it's really old and no good scrap out the metal. It all depends on the age, but after 1976 the sidewalls are all 2x6. There are several individuals that enjoy rehabbing manufactured homes by taking them down to the studs. Sounds like the caller is smart and savey with many options. Some of the 1980 - 2000 Manufactured homes are full of expensive options.