Are trailor parks any good to buy at ?

Doug · Jun 4, 2005

I'm not trying to buy the whole park, or a single-wide to live in ! My elder step-daughter ( about 23) is looking. They want like $400 land rent on a thing ( like 850sf and 30 y.o.) that's like 70k. I say back out.She agrees.

The property is cheap, but I think it's cheap because the fees exceed a condo by a lot. I tell her to move to NC, Colo, Tex, Fla, etc. She will graduate college soon, as sort of a counselor for those addicted to drugs, gambling,etc. Probably a lower-paid field.

What's the deal on "mobile " homes ? You can't really move them. It seems you are at the mercy of the landowner !

TTinCO · Jun 4, 2005

Doug, I'm no help on the trailer front, but be careful in Colorado. The housing bubble has topped out, and some will say is on the verge of sinking like a rock.

Trust me....:monsters-

Doug · Jun 4, 2005

I believe that. I once lived there. My brother lives there and got laid off as an electrical engineer, he expects to never work in-trade again. The girl is most likely to go to Florida, and follow family connections.

Marco · Jun 4, 2005

Trailer parks are tornado magnets, and if that isn't bad enough, some actually make "Wheel of Fortune" required viewing for people living in them.....

Better check local ordinances first.... :103631605

Dante · Jun 4, 2005

Marco said:
Trailer parks are tornado magnets, and if that isn't bad enough, some actually make "Wheel of Fortune" required viewing for people living in them.....

Better check local ordinances first....

General is yours in the middle of a tornado alley in indy :suomi:

if so be careful

Whoson1st · Jun 4, 2005

Back around 1970, I lived in a trailer park in Florida; for about a year with my job. I didn't think much of it...Yes price was cheap...all I could afford at that time; starting a new job. But...I don't think Florida (just my opinion) is any better than any other state for trailer parks.
Each situation is different.

zip32 · Jun 4, 2005

Stay away Stay away. Unless it is a double wide that is tied to piece of land, say a half acre or more, you will lose because that trailer will depriciate quickly. Tied to a piece of land means it needs to be titled as real estate, not through the state's motor vehicle department. The second part of the problem is more and more lenders are tighting their lending practices due to the high rate of foreclosure in the manufacturing market. And third, you run a greater risk of showing up in the background in an episode of COPS.

JimmyHoffa · Jun 4, 2005

Trailers are bad investment. They just don't appreciate in value, they only go down in value. Beg, borrow or steal to buy a home. Housing is the safest and most secure investment out there.

Whoson1st · Jun 4, 2005

rchrdschn said:
Trailers are bad investment. They just don't appreciate in value, they only go down in value. Beg, borrow or steal to buy a home. Housing is the safest and most secure investment out there.

Agree about the trailers...but have to make land a safer investment than a house. They make houses all the time-----Haven't seen any new land go up lately.

Whoson1st · Jun 4, 2005

On a related note...when the government closes the military bases (the ones just recently mentioned for closing); Does the government just sell the land as an entire property to some investment company OR can the little guy like myself buy a little place to build on. (I have one place in mind--won't mention it here, but it's probably a long shot bigger than the lottery that it's sold as lots).

Holysmoke+ · Jun 4, 2005

trailor parks have a high percentage of child molesters, drug dealers and gang bangers.

Look up the nearest trailor park in a sex offender database and see what I mean.

If you have kids then stay the fvk away from em, unless you want predators checking em out all the time

TheGeneral+ · Jun 4, 2005

Dante said:
General is yours in the middle of a tornado alley in indy if so be careful

Yep and we are due. :smoker2:

Woody0 · Jun 4, 2005

Whoson1st said:
Haven't seen any new land go up lately.

See this all the time but not exactly true. New land is going up all the time in Hawaii. Might not want to live there now but in 5 million years its paradise.

kidslick · Jun 4, 2005

trailor parks have a high percentage of child molesters, drug dealers and GANG BANGERS.

suprised DANTE,CASINOMAN,AND NOREAGA HAVE NOT INformed us about that:finger: :finger: :finger: . dante seriously maybe you can take your hood off at the next one:finger:

ClipJoint · Jun 4, 2005

zip32 said:
And third, you run a greater risk of showing up in the background in an episode of COPS.

LMFAO

Doug · Jun 5, 2005

Thanks for opinions guys, about what I thought myself ! The kicker is the high fees, and the mobile home ain't that mobile, they don't move much... often stay put forever ! $400/ month is high !

The girl should look elsewhere. I'd leave the area personally since property has peaked here, IMO. Family ties encourage her to stay local.

TTinCO · Jun 5, 2005

Doug, they aren't cheap, but look into some condos in or near the downtown areas (especially Denver....but be prepared for some sticker shock).

Their values are rising, and will continue to do so. You just have to be ready to drop 3-500K up front. I haven't done it yet, but am really considering it.

$2000-2500 a month should get her a 500K condo & it will go up up up in value.

I like my yard, my space and my view of the mountains....I think I'm stuck being a suburbanite

Doug · Jun 5, 2005

TTinCO said:
Doug, they aren't cheap, but look into some condos in or near the downtown areas (especially Denver....but be prepared for some sticker shock).

Their values are rising, and will continue to do so. You just have to be ready to drop 3-500K up front. I haven't done it yet, but am really considering it.

$2000-2500 a month should get her a 500K condo & it will go up up up in value.

I like my yard, my space and my view of the mountains....I think I'm stuck being a suburbanite

Too much $$$, and Colo Springs was a suggestion, as I once lived there. I think she be looking for under 1k payment. You have to buy what you can afford ! A 500k condo probably needs close to a 6-figure job. That's not reality !

TTinCO · Jun 5, 2005

You are right....and 100K doesn't get you that far out here.

Fort Collins\Longmont\Loveland is probably more in her range, and they will all appreciate in the next 5-15 years, but don't expect anything short of that-it's going to take a while for the growth to really hit those areas.

I think the Springs is pretty much topped out, and Douglas Co is big $$$-avoid it.

Doug · Jun 5, 2005

TTinCO said:
You are right....and 100K doesn't get you that far out here.

Fort Collins\Longmont\Loveland is probably more in her range, and they will all appreciate in the next 5-15 years, but don't expect anything short of that-it's going to take a while for the growth to really hit those areas.

I think the Springs is pretty much topped out, and Douglas Co is big $$$-avoid it.

CS was used as an example, as I'm familiar with the area. I doubt she'd move 2,000 miles away ! She wants place in over-priced New England hometown. NC or Fla are more likely, possible Fla tie. Colo was an example, I used Texas also.

I know how Coloradans feel about Texans !

100k gets nothing in NE !

I feel she's not ready to buy. Great credit, very responsible person, but income not there, yet. She gets below market rent.

I'll advise to wait !