Great info for sure but IMHO...subdivisions are best....YOU OWN THE LAND under your home. Co-ops are good but they can sell out also, like land lease communities!
Sounds like you have at least one clue to a community that will fulfill your dream and meet your needs. Each of these opportunities offer unique solutions with advantages and disadvantages. There is no single solution that's right for everyone. The key is synthesizing the options down to the right solution for you.
Always a great vlog..the information was great to have ..one day my retirement which started at the age if 39..will hopefully be in florida and no longer be on the Virginia Tennessee line ❤
I'll add more to the story in future episodes. Suffice it to say I offer guidance in my MH Buyer program to help others avoid those mistakes and many more I have seen along the way.
Great info , I live in a leased park poorly manager and up keep except for the residence who maintain their property good thing that there are people who care rent is going up dreading the notice of increase for 2025 I do need to ask you a question how is the rent crease done I was told it calculated by the cpi is that so would love to hear from you I have lived in Brevard County for 40 years thank you for your time, Alice in Fl
@@alicejette5635 Every park has a prospectus and within that prospectus the manner in which rent increases may be applied is disclosed. As to the actual calculation that is up to the park owner as long as it falls within the specifications laid out in the prospectus. Should a majority of affected residents conclude the increase is unreasonable they may challenge it through mediation at DBPR.
Good synopsis, I think owning the land in a resident owned community is the best option if one can find one in a good somewhat safe location. The downside to land lease operations is that the operating costs are always passed to the residents in order to maintain profits. What are the risks to the owners? Primarily damages to the clubhouse and pool areas which they insure via the monthly fees. As we saw in Ft Myers’s beach area several of these communities were completely destroyed but it was the residents who lost their Gomes if not insured, my question is do the residents in this circumstance still have to pay lot rents for a home that was destroyed and they just spent a few thousand dollars to have it removed?
Once your home is removed from a lot and the debris cleaned you can terminate your lease. Or, you can negotiate with the park to have a new home installed on the lot.
There is a common misconception that land-lease communities are still affordable at low and very low income levels and that leads to a lot of frustration by those who were counting on them as a low income housing option. As for development, there are occasionally (one or two a year) some smaller and very old communities that close to be sold for other land uses. (apartments, shopping mall, etc.) But these are not the MH Resort parks most are interested in. We discuss how to measure/mitigate that risk in our MH Buyer program.
You are very knowledgeable 😊
Thanks a lot 😊
Thank you ,Russ......Great Info and perspective.....
Very welcome
Great info for sure but IMHO...subdivisions are best....YOU OWN THE LAND under your home. Co-ops are good but they can sell out also, like land lease communities!
Sounds like you have at least one clue to a community that will fulfill your dream and meet your needs. Each of these opportunities offer unique solutions with advantages and disadvantages. There is no single solution that's right for everyone. The key is synthesizing the options down to the right solution for you.
Always a great vlog..the information was great to have ..one day my retirement which started at the age if 39..will hopefully be in florida and no longer be on the Virginia Tennessee line ❤
You can do it! Love to see you down here!
Great video. Thank you for putting this together.
Glad you enjoyed it!
Great information! Would love to know why your first home was such a mistake, and what you learned from it.
I'll add more to the story in future episodes. Suffice it to say I offer guidance in my MH Buyer program to help others avoid those mistakes and many more I have seen along the way.
Great info , I live in a leased park poorly manager and up keep except for the residence who maintain their property good thing that there are people who care rent is going up dreading the notice of increase for 2025 I do need to ask you a question how is the rent crease done I was told it calculated by the cpi is that so would love to hear from you I have lived in Brevard County for 40 years thank you for your time, Alice in Fl
@@alicejette5635 Every park has a prospectus and within that prospectus the manner in which rent increases may be applied is disclosed. As to the actual calculation that is up to the park owner as long as it falls within the specifications laid out in the prospectus. Should a majority of affected residents conclude the increase is unreasonable they may challenge it through mediation at DBPR.
Good synopsis, I think owning the land in a resident owned community is the best option if one can find one in a good somewhat safe location. The downside to land lease operations is that the operating costs are always passed to the residents in order to maintain profits. What are the risks to the owners? Primarily damages to the clubhouse and pool areas which they insure via the monthly fees. As we saw in Ft Myers’s beach area several of these communities were completely destroyed but it was the residents who lost their Gomes if not insured, my question is do the residents in this circumstance still have to pay lot rents for a home that was destroyed and they just spent a few thousand dollars to have it removed?
Once your home is removed from a lot and the debris cleaned you can terminate your lease. Or, you can negotiate with the park to have a new home installed on the lot.
Lot rent has skyrocketed.
Builders are buying up Mhp to convert to apt buildings.
There is a common misconception that land-lease communities are still affordable at low and very low income levels and that leads to a lot of frustration by those who were counting on them as a low income housing option. As for development, there are occasionally (one or two a year) some smaller and very old communities that close to be sold for other land uses. (apartments, shopping mall, etc.) But these are not the MH Resort parks most are interested in. We discuss how to measure/mitigate that risk in our MH Buyer program.