If you’re like most people, you may be thinking of ways to reduce your expenses in retirement. Have you ever thought about buying a manufactured/mobile home as a way to reduce housing costs?
I got an email from a guy who lives in a quite affordable manufactured home community in Oregon within a few minutes from the beach. He said he’s very satisfied with his situation. I was thinking of taking a tour at some point to get a gauge on how his set up is as I’ve been thinking quite a bit about the rising housing costs and how this is affecting many Americans.
Turns out I am not the only thinking along these lines. JLL, an American commercial real estate services company, said that mobile home parks will be the hottest space within the commercial industry this year. According to Bloomberg, The Blackstone Group, America’s largest landlord, made a bet of $550 million on trailer parks.
With the virus-induced recession crushing people’s finances, there’s an influx of working Americans who rely on mobile homes for shelter. The increase in demand for mobile homes has lead Blackstone to acquire mobile home parks this year.
In the last foreclosure crisis, with the real estate downturn, Blackstone acquired tens of thousands of single-family homes as an investment opportunity. Now, Blackstone sees another opportunity to purchase as many as 40 mobile home parks in Florida and Arizona.
Speaking of costs, I reached out to Jack Spirko of The Survival Podcast recently. I asked him about his thoughts on manufactured homes. He said Solitaire Homes is who he’d recommend. He said he lived one in Arkansas and appreciated that they were using two-by-sixes rather than two-by-fours and other higher quality building materials.
I was curious so I dug into Solitaire Homes and saw they offer “3 easy steps to homeownership” primarily in Texas, Oklahoma, and New Mexico. Their website seems interesting to me. They give an example of a 2500-square-foot home for $105,000. It’s going to be awful tough to beat that with a stick-built home that’s for sure.
Might be something to investigate if you’re looking at reducing expenses in retirement. But I am ignorant how it works. If you want to put a mobile home on a 2-acre land in the middle of nowhere. How do you get that done? I just don’t know. If you have thoughts, I’d love to hear them.