How To Start A Trailer Park Business – DENVER — For decades, mobile homes have been a great place to own a home. They offer the opportunity to own a home at a fraction of the cost of a traditional single-family home.
A problem for some homeowners is the sale of the land beneath their homes. The owner of a mobile home, also known as a prefabricated home, owns only the structure, not the land. Digging under the house is a lucrative business that has recently been involved in large corporations, leaving some residents behind.
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“Five of the lowest-income homeowners are buying their first prefab home,” says Esther Sullivan. He is the author of “Manufactured Insecurity: Mobile Home Parks and Young Americans’ Right to Place” and professor of sociology at the University of Colorado, Denver.
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“This is one of the largest sources of affordable housing at a time when we are experiencing a major crisis in affordable housing, but it is under all these pressures and will be lost without help,” Sullivan said.
To understand what he means, you must first understand the business of owning a mobile home park.
Dozens of apples have been sold since Colorado began storing data in mobile homes three years ago.
Part of the developer’s appeal is how few favorite lands there are. Think of it as passive income: if you don’t own a building on the ground. “He knew everything about the house.” Sullivan explains.
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As some would say, this money was nothing new. It’s been around for decades. But Sullivan says it has traditionally been a form of small business. “What’s new is the convergence of corporate and private equity investments that we’re seeing in the artificial community housing space,” he explained.
The state’s mobile home park maintenance program maintains a list of mobile homes sold in the state. We analyzed the data and found that large businesses out of state made the most purchases since the state began keeping records.
Data courtesy of Horizon Earth Co. Co., Ltd. 2020 Seven Rose. The company’s website lists communities in 20 states. Legacy Community, a Florida-based company, has purchased the most homes on record. As of March 2020, the company’s orchards he purchased totaled 773 households.
The interest from big universities may seem sudden, but Sullivan says it’s been going on for years. However, it will become more common in recent years.
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Sullivan thinks competition will be fierce in the park because of limited inventory.
“The myth of man-made dwellings called mobile homes is that they move,” he said. “These houses don’t move,” says Sullivan. “It only takes one trip from the factory to the installation site.”
Some new mobile homes are moveable, but cost between $5,000 and $15,000, and many homeowners don’t have them. Then the problem was finding a place to move the house. “In mobile home communities, the demand for housing is so high that finding open land to move is often impossible,” says Sullivan.
Essentially, what owners are getting caught on and what many big companies are finding, families will be willing to do whatever it takes to save their home.
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“In many cases they will put up with really impressive rent increases, like 50% to 60%,” says Sullivan. “But when the rent increase becomes intolerable, it becomes unaffordable for residents. They need to move frequently and leave immediately. According to Sullivan, mobile homes are, and often are, possible after an owner evicts. The owner can then sell the land to others and inform them of the rent.
Tawny Peyton is the Executive Director of the Rocky Mountain House Association. Owners represent home park owners, sellers and movers statewide.
“There have been many offers from property owners and they have offered to buy the property over and over again,” said Peyton.
Colorado has a law that provides residents with funds to purchase parks within 120 days of registration. Peyton says the statute puts pressure on sales and makes owners uncomfortable.
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“Why would anyone want to accept an offer that requires written, funding, appraisal, and other things from a client when the offer is cash and can close immediately,” she says. Peyton said. “You think everyone is in that position to make sense of the situation.”
Merlin Zimmet was once in that place. He owns the Triangle Mobile Home Park in Durango, Colorado and is talking to Harmony Community to sell it.
Harmony Communities is a large California-based company that sells mobile homes nationwide.
When Harmonia first approached Zimmet, the company said it had asked him to sign a potential “intent to sell” deal.
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“[Possibility] says that if I don’t, i.e. if another entity buys the park from Harmonia Investments, I will be liable for “cited-unquoted” due diligence until she gets pregnant.” You have to pay them all the money you collect.”
The cost of due diligence is like a floating number, he said, changing constantly and seemingly unlimited at first.
“When I was coerced, harassed, and received nasty letters about what would happen to me and my garden if I didn’t sell, I decided to draw a line in the sand,” said Zimmet. .
Finally, contracts were sold to organizations representing the population. Therefore, you must believe in the harmony of money.
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Rocky Mountain PBS has a deal to show two separate installments for Harmony. One of the payouts is $25,598.57 and the other $20,000 is paid out as part of the actual deposit.
We’ve reached out to Harmony for feedback. The company refers to the money actually deposited into escrow.
“If he gets angry, the blame is on him alone.” said Antipas. “He hit me for lying to the media that doesn’t help anyone. Our lawyers have reached out to agents about this lie and are working on it.”
Zimmet’s message was to another mobile home owner in Colorado: “Look at options around the world.”
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Matt Bransfield knows it well. He bought 4 mobile homes and sold 3 of them. His most recent sale was in Leadville.
“I get emails with purchase offers almost every day,” says Bransfield.
The decision was made to sell to residents from the beginning because the park is in high demand, he said. “I think it’s a very good thing to get affordable housing on campus, especially in Colorado’s mountain towns,” Bransfield said. He called it a win-win.
He asked for money and left knowing his family was well taken care of.
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“I think it takes a little bit of patience to make sure the residents are doing well after the deal,” Bransfield said.
This story is part of a series about mobile homes in Colorado. “Colorado Voices: Sold: Land Under Mobile Homes” airs Thursday, July 28 at 7:00 PM. On Rocky Mountain PBS.-Hearst Newspapers participates in a number of affiliate marketing programs. This means that we may earn commissions on editorial products purchased through links to vendor sites.
More and more people are choosing to live small as they move from apartments to tiny homes and lots. If you’ve ever thought about buying land for a mobile home garden, now is the time to do it. The housing crisis and the popularity of minimalist living have permeated this market, providing new business opportunities. A garden mobile home can be a great investment, but there are a few things you should know before taking the plunge.
Land purchase is one of the first and most important steps to building a garden mobile home. Depending on your location, you may be required to obtain various qualifications, licenses and certifications.
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According to the Mobile Home Park Home Trust, there are more than 45,600 mobile homes and RVs in the United States. There are more than 5,500 plants in Florida alone. The Financial Times reports that about 22 million Americans live in mobile homes. This trend is mainly driven by rising house prices.
Average salary earners cannot average out property prices. Even people who earn more than one-third of their income can spend on housing. Given these facts, it’s no surprise that mobile homes are growing in popularity. Their owners can buy and sell land and often pay much less than they would otherwise.
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