Originally Posted by Mulligan
I hope they are in pleasant weather areas or they are better built now. I remember in the late 80s just starting my career and being "trailer trash" with 2 other guys. The damn heating bill in winter was about $400 a month. Thank God the bill was split 3 ways. It was higher than the rent! Almost 30 years later my home heating bill never peaked above 1/3 of that and I live in same area.
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Not long after we were married my wife and I were spending a day at Pismo Beach, a really beautiful spot. She had taken her ring off and put it in a shirt pocket so she could dig in the sand. I believe we were running and at one point she realized that her ring was gone. We both felt awful, but she managed to turn around and retrace her steps, down to remembering when she had jumped over something. She got down and started digging in the sand, and unbelievably there was her ring! Ever since I have had a good feeling about Pismo Beach.
I read the article that Mulligan posted. It's very good. One thing it mentions as a drawback is the poor leverage that people who own a unit but rent a space have. It's a bad situation. Unlike in an apartment, a reasonably priced move is all but impossible if the rent gets raised. Recently a park near Kirkland WA changed hands. But the new owner didn't stop at raising rents, he was going for highest and best use, which in this case is an array of luxury apartments or condos. Typically the residents cannot afford to walk away from their units, and the whole area is undergoing upscale makeovers. There are no other trailer parks close to the job market that served these residents.
I am past the stage of my life where I would want to take on a park as an investment. But I think even to become a resident I would want congruence of lot and home ownership. Either both are rented, or both are owned in fee, or perhaps the lot on a very long term price controlled lease.
But Pismo Beach would be hard to beat. And the very social style of living described in the article would be fun.