Folks we are living in an absolutely…AMAZING time. Things happen that affect other things…that make imposible things happen!
Went down to Lakeland today (skipped cave diving…water 72*, air 54*)
and talked to owners of two parks and managers of 4 Parks and found out a very interesting thing.
Folks that have had repoes taken off their private lots have found a way to make a buck if the home was a chattel loan with land not encumbered.
Banks aren’t even going for default judgements on repoese (repees)lol
It costs real money to pay property taxes and lawn care and in Lakeland if you don’t mow you empty lots, the city does at 250 per lot per mow!!!
The unintended consequence (UC)? Folks living in the MHP communities are buying these lots zero down and 160-200 per month! Moving their homes OUT of the Parks and forgetting the 350-500 lot rents. I’m talking about 1/2 acre lots with septic, power,driveways, fenced Saw two signs $750 down 175 per month 15 years OMG! Another said ZERO DOWN, NO PAYMENTS FOR ONE YEAR 210 PER MONTH 20 YEARS!
Another UC? Go onto mobilehomeparkstore.com and see how many Parks are for sale in Lakeland right now. Okeechobee same daggone thing I WILL get my 200 space Park for pennies on the buck and I don’t care if there is only 40 homes in it. Buying right (free) you can actually afford to REDUCE rents and still cash flow.
This is kinda cool…not for the Banks or current Owners but I think I’ve found my niche…maybe use Cole’s method to extract some loot from Banks and Uncle for a change.