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Re: SG-W:/ Chelsea Mobile Home Park
- Subject: Re: SG-W:/ Chelsea Mobile Home Park
- From: RIDE998@aol.com
- Date: Wed, 30 Aug 2000 21:07:56 EDT
normally folks the apple is rotten from the inside out.
this is how it really works
first the developer gets together with the land owner and makes an option on
the land then the developer goes to the township and pushes through the
here is where the fun begins then the developer and the land owner go to
the bankers and ask for 10 to 20 million dollars or however much it takes
to start the manufactured housing community
then they round up 2 or 3 mobile home dealers and get the dealers to agree to
rent all the lots in advance maybe 3 dealers will split 400 lots and pay
$250.00 apiece per month each month maybe $ 25,0000.00 per dealer per
month to the developer and the landowner to acquire the spaces in advance.
then the dealers also give away 6 months lot rent with the sale so the
prices of the homes are inflated to cover all these costs superimposed by
the developer and the landowner because the banker will not loan the money
to the developer if the dealers dont come along .
this may sound far fetched to you but alot of lenders are out of business
because of this right here A.K.A. Associates ; Indymac ; Bank 1 are
out Conseco is still around Greenpoint just shut down 20 offices
nationwide the current trend is called right sizing anybody heard of it ?
The solution is simple have these people build Modular Home Subdivisions
where the land is sold with the home . Just like any other subdivision which
will create the tax base with homes that can sell from $120,000.00 to
$180,000.00 which no one is catering to right now.
I will try to be at this meeting if my schedule will allow .
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