Latest news with #mobilehomes
Daily Mail
2 days ago
- Business
- Daily Mail
Inside the trailer park house-flipping phenomenon that is earning Americans big bucks
Up to 21 million Americans live in manufactured homes, also known as mobile homes and trailers, and savvy buyers are cashing in on demand for these tiny homes to make big bucks. Byron Sellers, 39, of Tampa, said he has seen an increase in mobile home owners since he started flipping homes in 2018. 'It is cheaper,' he told 'Lots of people are being pushed out (of the main housing market).' Victoria, of New York City, who asked to go by her first name, agreed. She rents her Upstate New York and New Jersey mobile homes for $1,350 a month. That price, for a three bedroom, one bathroom home, is steeply cheaper than even studio rentals in the metropolitan area. 'Everybody wants a mobile home,' she told 'You can even move it.' Both Byron and Victoria got started in the industry after they realized how expensive flipping residential homes was and how much more cost effective trailers are. Byron started flipping homes near the Chicago area after he lost his job in 2016. He and his wife bought their first two mobile homes in March 2018 for a joint price of $4,300 in a trailer park. Within 45 days, their ready-to-live-in trailer sold for $9,500. After putting in $3,000 of renovations into the second one, it sold for $10,000, Byron told Some trailers, they've gotten even cheaper than that. 'I've gotten some for free,' Byron revealed. Since starting their business, they've made a low six figures from flipping homes alone, Byron said. Another $400,000 from mobile home parks and their equity in them. And another $40,000 teaching others how to do what they do. The reason Bryon and his wife, Sharnice, migrated into the mobile home market was because the former had wanted to get into real estate for a long time, but multi-family homes were largely outside his budget. He first heard of mobile home flipping while driving for a rideshare company and listening to a podcast to pass the time. He shared it with Sharnice and the rest is history. Victoria agreed that sometimes landlords are just want something to move fast, so they'll hand it off for free. So far, the New York mogul has gotten two mobile homes for free. Victoria has made around $80,000 doing the same, and put roughly $30,000 into the renovations of her seven homes - three of which she still owns and rents out. Victoria says she sees a lot of Latinos snapping up hers and they're mainly upper lower and middle class families. Meanwhile Byron and Sharnice have found that many of their buyers are usually within the $20,000 to $40,000 salary range, typically between the ages of 30 and 69 and are white or Hispanic. 'You have a bigger buyer pool of cash buyers,' Byron told But not every mobile home is a steal. Since moving to Tampa, Byron has seen some trailers for the prices of starter homes. And some parks even have pools, pickleball courts, and convenience stores. Those areas, however, are typically geared toward those in retirement and typically go more than $100,000. Even without those perks, living in a mobile home can be a cost-effective strategy for those pinching pennies but looking for an affordable home solution. Trailers typically run for $50,000 to $100,000 cheaper than a traditional home, Byron said, and there are no Homeowner Association fees to pay. After purchasing the home, if buyers live in a park, they will have to pay to lease the land. On top of that, mobile homes are classified as property, like cars are, so insurance prices and property taxes are much lower than standard homes. However, unlike homes, they don't retain their value. But for those willing to invest time and money into renovating them, they can make plenty of money doing it. They 'don't depreciate' as much as people might warn you, Victoria told Byron recently acquired a trailer for around $85,000, after fixing the septic tank and putting in $40,000 of work into it, he and his wife sold it for $212,000. Another one, which was move-in-ready, he spent $200 for a cleaning crew and turned the property around and sold it for $7,000. He got the trailer for free as someone was being evicted, he said. On average he puts anywhere between $3,000 to $20,000 into the renovation and hopes to sell it for three times the price he put into it. Since moving to Tampa, as it is a harder market, the couple hopes to net at least 50 percent more than what they paid. 'After the hurricanes, it's harder,' Byron told 'The market has slowed down.' However, people are 'still buying' and he doesn't foresee the market ever becoming obsolete. 'It's a niche market,' he admitted. 'I just see the future of them. People are going to need affordable housing.' The most Victoria has ever spent on a renovation was $6,000, spending less than that on average. When she redoes a home, she focuses on the bathroom and kitchen, as she says those are the most eye-catching to potential buyers.
CBS News
4 days ago
- General
- CBS News
Power cut again at Li'l Abner mobile home park, residents protest in Sweetwater
Residents of the Li'l Abner mobile home park in Sweetwater staged a protest Friday night after power was cut to the community for the second time since demolition on some of the mobile homes began. Among those affected was Santos Varela, a terminally ill man with pancreatic cancer. Speaking in Spanish, he said the outage made his condition worse. "I'm worried because I don't wanna end up in the hospital again. I'm tired of going to the hospital," he said. He added, "What I have, there's no hope. They tell me they can't do anything else for me." Mom says she struggles to feed her children Samantha Morales, a resident with four children, told CBS News Miami the power had been out for eight hours. "It's really hard. I can't open the fridge to make them nothing to eat. Give them nothing to eat. My baby needs milk. I can't," she said. Morales also expressed concern about safety, saying her children must now navigate heavy machinery and debris left from ongoing demolition. "My number one concern is their health. I have a son who is asthmatic and has a lot of allergies. He has a lot of illnesses. And due to this, his stuff is flaring more," Morales said. Residents held signs Friday night calling for the cleanup of debris from demolished homes. Some, like Morales, fear losing their homes next. "Sometimes we don't know if maybe we won't come back to a home. Maybe they'll knock ours down," she said. Some residents remain without power. CBS News Miami reported reaching out to Florida Power & Light on Friday night but had not received a response.
CTV News
5 days ago
- Automotive
- CTV News
Camping Daze at Traveland RV Langley
Camping Daze at Traveland RV Langley During Camping Daze at Traveland RV in Langley, CTV Morning Live previews the wide selection of mobile homes available now!
CBS News
20-05-2025
- CBS News
Sweetwater mobile home park residents defy eviction notice, vow to stay until forcibly removed
The remaining residents of the Li'l Abner Mobile Home Park in Sweetwater are refusing to move out, a day after the deadline passed for them to do so. Six months ago, the residents of the park were told the owner sold the land and 900 families were informed that they would have to leave. The families, who own their mobile homes, rent the land beneath them. Three out of four families who agreed to leave by January 31 received a $14,000 compensation offer, but many, like Enrique Zelaya, stayed, saying the offer was not enough. 'Many of us feel betrayed because in my case, we came here four months before the eviction note," he said. Zelaya said when he purchased his home, he asked if there were any planned changes for the park property and he was told no. He added that the owner was aware of the impending sale at the time. On Tuesday, two things were happening in the park. Demolition crews continued to tear down vacant mobile homes, making space for a new development. Those who defied the eviction notice were still there and vowed not to leave until they were forcibly removed. David Winker, the attorney representing remaining residents, filed a lawsuit against the park's owner and questioned the methods used in the demolition, claiming that protocols like water suppression, a key safeguard against airborne asbestos, were not being followed. "At this point nothing is going to happen, because now it's their turn, they're going to have to go to court," he said. In late March, the company faced $108,466 in fines after asbestos was found in demolition debris. County officials tested 24 samples of debris from four homes that were demolished last year and found asbestos in some of the samples.
BBC News
16-05-2025
- Business
- BBC News
PM urged to end 'legal theft' from park home owners
Sir Keir Starmer is being urged to scrap a law forcing people who live in mobile homes to hand over 10% of the profits when they sell up to the site owner. The charge has been labelled "legal theft of equity" by campaigner Sonia McColl, who represents an estimated 200,000 park homes residents across said most of the residents are retired and are selling up to pay for care, whereas the site owners are "making a profit on their profit".Dame Sonia handed in a petition at 10 Downing Street on Thursday, which 37,000 people have now signed up. The charge is levied by site owners on residents selling their park home, taking 10% of the home's value, and can be worth up to £50,000 on top of annual rent and maintenance Sonia, who has earned an OBE for her campaigning work, has been fighting for a change to the law for more than a decade and complained politicians "keep kicking it into the long grass" but she was hopeful the new cohort of MPs would "make a tremendous difference".Asked why the issue was so important to her, she said: "Often people need to move into care homes and the loss of 10% of their equity curtails the amount they can afford and that falls back on the local council."At the end of the day a lot of people want to sell their homes and are either feeling trapped in their own homes or they're losing out."A Ministry for Housing Communities and Local Government spokesperson said the government recognised longstanding concerns about this sector of the housing market."We recognise concerns raised by park home residents about the commission fee paid on the sale of homes, which is why we are reviewing this issue and will set out further details in due course," they added. MPs on the Park Homes All- Party Parliamentary Group (APPG) joined the campaigners at Downing Street to hear their Reynolds, Liberal Democrat MP for Maidenhead, said park home residents were put in an unfair position compared to bricks and mortar home owners."I used to have a leasehold flat and when I sold it, all the money was our money, because it was our property and I don't think there should be a difference," he said."The argument put forward is the money is used for maintenance but actually that's what your site charges are for."Dr Ben Spencer, Conservative MP for Runnymede and Weybridge, said park home residents should be treated the same as leaseholders."Why should the park site owner benefit from work and investment in kitchens and bathrooms in park homes?" he asked."They already get pitch funds and annual rent, so taking 10% when homes are sold is fundamentally unfair because the park owner doesn't do anything to have this stake in other people's property."Labour housing minister Matthew Pennycook was invited but did not attend, although he has previously met Dame Sonia at a Park Homes APPG event. The British Holidays and Home Parks Association (BHHPA) has been contacted for comment. Sign up for our Politics Essential newsletter to read top political analysis, gain insight from across the UK and stay up to speed with the big moments. It'll be delivered straight to your inbox every weekday.
