These properties would not have HUD tags — or the sturdy lending restrictions, generally, that apply to manufactured houses. Financing options for modular houses are just like single-household residence choices. The Cellular Dwelling U. students nodded appreciatively: They learned early within the course that one of the best things about investing in trailer parks is that formidable landlords can increase the rent 12 months after yr with out dropping tenants.
As Rolfe put it, an extra $10 or $20 a month isn’t going to bankrupt anybody.” He in contrast the hikes with cable corporations’ annual bump in fees, which get individuals into the habit.” Elevating rents by 30 percent might sound steep for trailer-park tenants, who at Green Container Gardening Vegetables Lantern earn $forty,000 on average, but the manager defined why that isn’t the case, as if he were reading from the 500-page instruction manual Rolfe distributed on the primary day.
He and his business accomplice, Dave Reynolds, began buying trailer parks together shortly after the subprime meltdown. It was Day 2 of Cell Home University, an intensive, three-day course on easy methods to strike it wealthy in the Planting A Garden trailer-park business. Using their own cash and thousands and thousands more from outsider buyers — including many who’ve been via Cell Home University — they’ve been buying about two dozen parks a year.