“I thought this was where our roots were going to be,” Ms. Clement said.”
On rented property? Ms. Clement is stupid.
L
But, but, but, just last week they were trailer trash and deplorable(s)
As usual it’s the Precariat class that takes the hit.
There’s nothing new about this, MH parks have long been seen as desirable cashflow investments under the right conditions (of which there are several, even many).
Roger Miller comes to mind 🎶
😂
Knew a guy who owned a mobile home park and eventually sold it out of frustration. He told me, “Never buy an asset where you have to collect rent weekly”.
NEVER go to a park where you have to pay lot rent but own the MH. Unless the park already owns it.
You will own nothing and be happy.
Investors is just another way to say, “Blackrock” and George Soros.
My ex’s dad owned several old trailer parks - and they were the real deal when you think of “TRAILER parks”. Worst kind of investment in many ways. Maintenance of water and sewer systems, non-payers, left behind trashed out mobile homes, dog issues, drug issues. They owned one very small park that were all older people who had lived there for years - so that one wasn’t bad, but still had to go out in the middle of the night in freezing temps to deal with water issues.
If I had to pay $625 a month for a tiny strip for a tin house to sit on, it better include utilities, meals and conjugal privileges with a hotty of my choice.
Wall Street’s scorched earth war against Americans too poor to buy a house enters phase 2.
Here’s an article on the previous program for buying up single family homes:
Blackstone is the world’s largest investment fund. If you wonder who is making the above market, full cash offers for California SFHs this is part of the answer. It’s why you don’t have a prayer of competing with them.
Blackstone is also rumored to be acting as the agent for a CCP investment fund that is buying up single family houses. Plan on being a renter, serf.
Bfl
And the state governments and federal clowns are letting it happen.
No different than when the states and locals had out all sorts of tax breaks to companies. Nothing to protect the folks that are already there.
Their mantra, “you can’t afford the tax hikes that come with the new company that is going to bring 1000s upon 1000s upon 1000s of jobs( or not), tough Sh*t, move, we’ll find someone that can. We never liked you anyway.”
Mobil home parks are one big scam.... the reason why is that everything in the contracts one signs is predatory and the fact that you own the house, and someone else owns the property, will tie the person to all the land use increases. a lot of times the person is unable to sublet in the contract and unable to sell because the owners will, after years of renting the property and having the rent increase, will be unable to sell it to anyone but the park itself because they must agree to the land rental terms. The park buys it decreases the rent on the property and someone else ends up in the trap.
Bkmk
For those who can’t spell stock market, a trailer park is a gold mine.
Investors my a$$! Bunch of bottom feeding scum and scalawags!