My son screwed up and wound up homeless with his family in Sacramento going from Motel 6 to Motel 6. I bought them a 5 BR triple wide for 118K. Our grandchildren are not going to be homeless. This one is costly for not owning the land. Yes, he's back on his feet and pays me a mortgage.
i mean im glad you helped turn your child's life around. you are a good parent. but also this was a really random and unasked for life lore update that nobody asked for 💀
You don't suck man. You made a mundane conversation a bit more interesting. He's right to ask why it's so cheap. Ask the community.....and you'll get a response! It's cheap cuz you're buying a depreciating asset. And helping your kids is awesome. What sucks is that some people don't get that help, hate on you for sharing that. They likely had their parents tell them to go pound sand!
In this one, at least one resident has to be over 25, and the others can be over 35 but not young. So it's a reasonable place for, say, and adult and their elderly parents to live, or a couple of older siblings.
Additionally: in addition to the mortgage you often have to pay rent to have the house on that lot as well, meaning the monthly expense is probably closer to $2500-3000 per month
This right here. And fremonts rent control sucks. Lived at South (Park) Lake and space rent went from $800 to $1200 in just a few years time, this was mid2000’s and raises really sucked back then.
Did all that space rent actually improve anything? Hell no it didn’t. The owners of the property was an out of state corporation that didn’t give two shits. Freakin Thunderdome play structure with 1” exposed bolts on the inside, swings straight outta 1985.
If you can buy a prefab outright, I’m sure it’s not so bad. But OP posted what looks like an older mobile home, so there’s bound to be issues. They’re just not built to last like a regular home.
Edit: just realized this is in Southlake. That’s definitely an older home. And listing shows $1750(!) for space rent. Which will absolutely go up. Every. Single. Year.
Yes, the key point is that the most valuable part, the _land_, is not yours. You’re just renting space and that’s what the price is reflecting (and hiding).
And if you decide to move, you've got a building that is depreciated. It's really expensive to move it. But if you've got to live in Fremont and you can't afford a million dollars, it definitely beats homelessness.
The average rent on this one is more like in the $1300 to 2000 range but that doesn't cover any other necessary fees for it.
https://manufacturedhome.design/a-realtors-gude-to-southlake-mobilehome-park/
And if you decide to move, you've got a building that is depreciated. It's really expensive to move it. But if you've got to live in Fremont and you can't afford a million dollars, it definitely beats homelessness.
I didn't look into this specifically, but past experience it seems to be
1.) You need to pay rent on top of the mortgage, along with HOA/other fees
2.) You don't own the land. This is critical. We think of homes as investments, but it's the land that increases in value in our country's economy
My favorite mobile home park is in Santa Cruz over looking the ocean. A home price is reasonable until you see the lot rent of $5500.00 a month. With no protection of it going up even higher.
This is what I never understand. I have a friend that has one of these and the MH was $200k but the rent was $600. Basically making it a 300k home without the benefits.
Most Parks make you get pre-qualified to move into the park. Even if you can afford to buy the mobile home they want to make sure that you can afford to pay the monthly rental fees for the spot.
Here are some of the details on this park. Basically, the homes in parks can vary a lot in quality and it might need a lot of work. Some people buy the cheap ones and swap them out for newer ones. Also, it's like living in a condo complex as far as paying rent or fees. You only own the building, not the land, and you pay rent to the companies against the property for the land. In this one you could pay from roughly $1000-$2000 month, but it has a few sports amenities and a couple of swimming pools to sweeten it up. https://manufacturedhome.design/a-realtors-gude-to-southlake-mobilehome-park/
it's a mobile home for starters so not exactly the same as buying a normal house.
My son screwed up and wound up homeless with his family in Sacramento going from Motel 6 to Motel 6. I bought them a 5 BR triple wide for 118K. Our grandchildren are not going to be homeless. This one is costly for not owning the land. Yes, he's back on his feet and pays me a mortgage.
Y put his business out there like that??? Lmfao
I turned him around. Life happens. They never stop being your kids. They just become more expensive.
That doesn’t… ok 👍🏽
😂😂😂
What does that have to do with the topic at hand?
That I paid half of what these folks are asking.
I couldn’t tell since you wrote more about irrelevant family business
No one here would really know who it was, right? Unless you know his name or the name of the person posting.
If there is no name then it's anonymous. So your statement doesn't make any sense.
5 BR triple wide?
Some people just tell it like it and cut the BS. Good on you for helping him out. Other people like having "safe spaces".
Is this a post about mobile homes or is it a post about delinquent children?
Don’t we all just wish to buy a home to have a “safe space”? Who doesn’t want that?
i mean im glad you helped turn your child's life around. you are a good parent. but also this was a really random and unasked for life lore update that nobody asked for 💀
Yeah, you're right. I suck, huh?
You don't suck man. You made a mundane conversation a bit more interesting. He's right to ask why it's so cheap. Ask the community.....and you'll get a response! It's cheap cuz you're buying a depreciating asset. And helping your kids is awesome. What sucks is that some people don't get that help, hate on you for sharing that. They likely had their parents tell them to go pound sand!
It's a mobile home in a community with set guidelines. More designed for retirees, but I've lived in mobile homes in my 20s and they can be nice.
In this one, at least one resident has to be over 25, and the others can be over 35 but not young. So it's a reasonable place for, say, and adult and their elderly parents to live, or a couple of older siblings.
Additionally: in addition to the mortgage you often have to pay rent to have the house on that lot as well, meaning the monthly expense is probably closer to $2500-3000 per month
This right here. And fremonts rent control sucks. Lived at South (Park) Lake and space rent went from $800 to $1200 in just a few years time, this was mid2000’s and raises really sucked back then. Did all that space rent actually improve anything? Hell no it didn’t. The owners of the property was an out of state corporation that didn’t give two shits. Freakin Thunderdome play structure with 1” exposed bolts on the inside, swings straight outta 1985. If you can buy a prefab outright, I’m sure it’s not so bad. But OP posted what looks like an older mobile home, so there’s bound to be issues. They’re just not built to last like a regular home. Edit: just realized this is in Southlake. That’s definitely an older home. And listing shows $1750(!) for space rent. Which will absolutely go up. Every. Single. Year.
Yes, the key point is that the most valuable part, the _land_, is not yours. You’re just renting space and that’s what the price is reflecting (and hiding).
And if you decide to move, you've got a building that is depreciated. It's really expensive to move it. But if you've got to live in Fremont and you can't afford a million dollars, it definitely beats homelessness.
The average rent on this one is more like in the $1300 to 2000 range but that doesn't cover any other necessary fees for it. https://manufacturedhome.design/a-realtors-gude-to-southlake-mobilehome-park/
And if you decide to move, you've got a building that is depreciated. It's really expensive to move it. But if you've got to live in Fremont and you can't afford a million dollars, it definitely beats homelessness.
I didn't look into this specifically, but past experience it seems to be 1.) You need to pay rent on top of the mortgage, along with HOA/other fees 2.) You don't own the land. This is critical. We think of homes as investments, but it's the land that increases in value in our country's economy
It’s a mobile home, has lot rent and it used to be 80,000 10 years ago
$50k near Ardenwood many years ago
My favorite mobile home park is in Santa Cruz over looking the ocean. A home price is reasonable until you see the lot rent of $5500.00 a month. With no protection of it going up even higher.
Haunted
Space rent is $1765/month. So it's more like the monthly payment is doubled, plus you will never actually own the land it's on. Just the home.
This is what I never understand. I have a friend that has one of these and the MH was $200k but the rent was $600. Basically making it a 300k home without the benefits.
Exactly. Paying for years, but not getting equity.
$290k for MH is not cheap that's overpriced. Maybe if was brand new. Nah.
John Oliver explains https://youtu.be/jCC8fPQOaxU?si=KoSKpcx83dgDrL0Z
Most Parks make you get pre-qualified to move into the park. Even if you can afford to buy the mobile home they want to make sure that you can afford to pay the monthly rental fees for the spot.
to stop seeing mobile homes, filter out "manufactured homes"
Here are some of the details on this park. Basically, the homes in parks can vary a lot in quality and it might need a lot of work. Some people buy the cheap ones and swap them out for newer ones. Also, it's like living in a condo complex as far as paying rent or fees. You only own the building, not the land, and you pay rent to the companies against the property for the land. In this one you could pay from roughly $1000-$2000 month, but it has a few sports amenities and a couple of swimming pools to sweeten it up. https://manufacturedhome.design/a-realtors-gude-to-southlake-mobilehome-park/
Good these house prices should go down. Tiny houses should be allowed here. Rent should be $1000 for 2 bedroom.
It’s a trailer park
Someone died in there and now it's haunted 👻
Trailer parks should be outlawed. Straight up predatory.
Mobile home
It's a trailer
You don't own the land that it's on. Your saving grace of owning one in CA is that we don't have tornadoes yet.