55+ Community Tiny House Manufactured Home Tour

Рет қаралды 1,632

Mic Thinks Tiny

Күн бұрын

Пікірлер: 35

@zanesutherland406 2 ай бұрын

Beautiful home!

@MicThinksTiny 2 ай бұрын

It really is!

@le_th_ 2 ай бұрын

Leased land is a *very dicey* risk for someone this old to take because you're sinking $200K...usually cash...into a unit that is very likely too old to move, so you are *chained* to whatever lot rent they decide to charge, and this has been an extremely psychopathic industry in California since at least the early aughts, of which I am personally aware. (i.e. my best friend's manufactured park sold to a financial predator shortly before she sold her mobile home, and he jacked the lot rents up 3 times what they were paying, and the residents had to pay it, try to sell with the lot rent now being almost as much as the cost of a 1-bedroom apartment rental, or they had to just abandon their homes there and the new owner claimed the property as abandoned and rented the units out). Only those working full time jobs could afford to stay. The rest, who were on fixed incomes, became homeless. My friend go out just in time by pure luck, and she was 31 at the time. This, in fact, has been such a predatory practice that it has been happening all over the US the last 20+ years, and even Gov. DeSantis had to step in several months back in FL when a financial predator bought a manufactured home park there and did the same thing, giving resident 30 days to pay or quit. DeSantis stepped in and required the new owner to give them 6 months to come up with the money to move their manufactured homes because most of the people were retired on fixed incomes. Most were evicted at the end of that 6 months. (Note: DeSantis is infamous for undoing all tenant protections in Floriday communities, so don't think I'm saying he helped people, he just gave them time to try and come up with the needed money to move their old manufactured homes, and it gave them time but didn't change anything in the end). You MUST OWN THE LAND underneath any home you purchase, otherwise the $250K you are paying for it is *POOF* up in smoke. You'd be better off parking a new, much smaller, and very portable tiny home like a tiny Incredibox if you are going to have a land-lease. If you are paying $30-$50K in California, it might not be a big deal, since we spend that in a single year on rent anyway, but to spend $200K plus have a land lease??? It's not a wise way to spend $200K. Mind you, the mega-millionaire Barbara Corcoran did this on the coast of California, but she has plenty of money to burn....and/or litigate with a very well paid attorney...if any new owner turned up and tried to take over that park and evict the residents. You have to *really* know what you are getting into when you buy a manufactured home because putting it on leased land...i.e. land you do not own....is probably one of the most high-risk choices you can ever make in housing.

@MicThinksTiny 2 ай бұрын

Hey! Thanks for watching and for commenting. Yes, any situation where you're putting 100K+ into a home but not getting land is risky. I think MHs are becoming more popular out of necessity. For some people, if they want to stay in California, a MH is a solid option even compared to a tiny home since there are not a lot of places to park a tiny house in California (unless you own a home). I know some people are moving out of California (and have been for a while). Do you think the state will continue to see people moving away due to housing prices?

@le_th_ 2 ай бұрын

@@MicThinksTiny People come and go from California, especially those who are not natives. Many who left during the pandemic ended up moving back because they didn't like the other states where they moved. Some couldn't afford to move back and are stuck now where they are because of the steep cost of living increase in both food and housing the last 14 months has burned through what disposable income they had. I've come across some who are happier in their new state, but most of those are conservatives who moved to more conservative states. Some people will have no choice but to move if they lose their job, or they risk getting an eviction on their credit report for 7 years. The US is in deep, deep trouble right now because Blackstone has almost 80% of all all available rentals in the US (homes and apartments) on their asset management sheet, and this is one reason why rents have gone up in every single state (because the many different companies they own buy up every entry level SFH that comes on the market in a good neighborhood, and they day they close they list it for rent on Zillow. I've watched it happen over and over and over again this last year. When one Asset Manager holds that much of the rental market (which they spread out between many companies so they can't be considered a monopoly), it is very dangerous for anyone who rents because they can raise the rents as high as they want across the entire US. No one has stopped them. A MH on a leased lot in any state, not just California, is one of the most ignorant and irresponsible things anyone can do, and most especially for anyone who can't afford market rents right now. If people are struggling to afford real estate or rent, the *worst* financial decision they can make is to sink $200K into a MH when the park can be sold to a private equity firm who can then jack up the lot rent 3-4 times....like they've been doing over the last 20 years...and then the home owner has to abandon the home there. Even if someone has the $10-20K it costs to move a MH, you can only move them once before they are no longer habitable. I feel like you may not be informed on this or you wouldn't even think of suggesting it. There are laws that dictate when...and if...and how many times you can move a MH, you can't just move it anytime the lot rent triples, even if you own it. Or worst still, you will have to pay to move it out of the park, but once you do, you won't be able to live in it legally, you can only use it for something like storage. $200K is a lot of money to spend for a storage unit you can't live in. I don't know how to make this any more clear. Now, if you can find a MH that only costs $30K, it would be no big loss because you *easily* spend $30K on rent each year in California anyway, but $200K for someone who is already struggling is a HARD NO. It is too risky with private equity firms buying up all the MH parks in the US. Things have changed in the US with private equity firms running the show now. This is not my subjective opinon. This is a fact. There may be one caveat, and I'm kind of guessing on this. In fire country, where people already can't get insurance on their homes, it stands to reason that private equity firms will not be purchasing MH parks in those areas because the cost to insure the park may not make the investment worthwhile because it opens them up to possible loss and litigation. If you don't know what I'm talking about, now is the time to start educating yourself on the 4 private equity firms that own most everything we nedd in the US (housing, food, hospitals, dental clinics, meat processing plants, farming equipment). This is not hyperbole. This is why prices have escalated so drastically, and they been quietly acquiring all these companies for years until they could finally start price gouging consumers like they have been). Maybe start your learning with this video from Harvard Business School. It will give you a very basic overview of what has already occured over the last several years. This is a very dry, economic video but the info in it is critical for Americans to understand. kzbin.info/www/bejne/rGKQpod_g52ti7M

@Thomas63r2 2 ай бұрын

Not very economical. $230k for a flipper renovation of a pre-standard budget mobile home that originally sold for probably $6k to $7k in 1969. Then add space rent of $1,000 to $1,500 in that park. Mixed reviews online; some seem to like that park, others say they lost a lot of money with unfair practices. Idea for 55+ retirees who love California: move to a nearby state with much lower costs and use the savings to enjoy lavish vacations in California every year.

@le_th_ 2 ай бұрын

I'm guessing you haven't priced Reno, Vegas, or Arizona lately.

@Thomas63r2 2 ай бұрын

@@le_th_ Meh, its okay with me if you want to live there. Maybe retire some place not named Reno, Vegas, or apparently AZ. They make these things called airplanes that can bring you to visit California when you feel the need. Don't get me wrong, I understand that area has become sought after and is expensive - I'm just thinking there are better ways to spend your housing money so that you can better enjoy your retirement. I would feel better about this mobile park if it didn't have such mixed reviews: it sounds like some people left that park poorer off, and being older without much chance of earning it back.

@le_th_ 2 ай бұрын

@@Thomas63r2 You specifically stated a "nearby" state. That is why I brought up those states that border California. I would never encounrage anyone to spend $200K on a home that can't be very easily move themselves when it's on leased land that can be sold out from under them, especially not with this becoming a highly predatory industry where they are selling to ruthlessly greed-driven psychopathic entities who jack up the lot rent to 3-4 times what people are paying so that it falls just under what the market rate for a 1-bed apartment is, and then when people can't pay it and can't afford to pay to move their large manufactured home elsewhere they have to abandon it there, because that has been happening since the early aughts in Cali, and for the last several years it's been happening all over the US. I believe it was Warren Buffet who said one of the most solid investments was manufactured home parks several years ago, and what I described above is precisely why. They try to FORCE people out of those homes by financially preying on them, especially on those with fixed incomes, so that they eventually evict them and the home "owner" doesn't have the thousands of dollars it costs to move these homes from one park to another. They then rent out the home they evicted the (often elderly) owner out of and get both lot rent and rent on the dwelling combined. This is, very sadly, a tried and true, very psychopathic strategy. It's also how the homeless population skyrocketed in the early aughts in California, before the 2008 crash. I wish that were hyperbole. It has happened all over the US since then. A land lease is the worst decision most people can ever make, except in rare instances. They are financially preying on the most vulnerable (in many cases) populations, but they're making a killing doing it, and they're bragging about what "a great investment" mobile home parks are. Some of the parks near where I live are charing $2,300 (in the more dangerous neighborhoods) to $3,200 for the parks on the coastline. It's truly obscene, and their expenses haven't changed that much, it's just that private equity firms have an unquenchable greed and they don't care who they make homeless in the process, as long as they earn huge profits. That's why I recommend no one ever buy a manufactured home unless the OWN the land. Lastly, about the cheapest state you can live in that is anywhere close to California would be Kansas, and that's a 20 hour drive, just from LA to Wichita. The flights from there are more expensive than most flights from LAX to JFK. You also seem to have a grave lack of understanding of why most people move to California in the first place. It's mostly so they don't have to live in the states that surround it and/or the people who tend to populate those states.

@le_th_ 2 ай бұрын

@@Thomas63r2 Nowhere did I state or imply that I would live in Reno, Vegas, or AZ. You made that ASSumption all on your own. You specifically stated "nearby states" and aside from NV and AZ, the only other "nearby state" is OR. I don't have to worry about taking "lavish vacations" in California because I live here year round.

@Thomas63r2 2 ай бұрын

@@le_th_ You were the one mentioning Reno, Vegas, or Arizona - I figured you liked those places. I guess my ASSumptions were wrong. LOL, oh well.

@susana6917 2 ай бұрын

Monthly HOA?

@le_th_ 2 ай бұрын

Near where I live in NorCal, the lot rents are $3,200 per month, but that's on the coast. The homes are selling for less that $100K because no one can qualify for the exorbitant lot rent the owner is charging.

@MicThinksTiny 2 ай бұрын

It's $1100/month for this one.