Thank you ,Russ......Great Info and perspective.....
@RussellWatsonFMHL
4 ай бұрын
Very welcome
@ventman929
4 ай бұрын
Great info for sure but IMHO...subdivisions are best....YOU OWN THE LAND under your home. Co-ops are good but they can sell out also, like land lease communities!
@RussellWatsonFMHL
4 ай бұрын
Sounds like you have at least one clue to a community that will fulfill your dream and meet your needs. Each of these opportunities offer unique solutions with advantages and disadvantages. There is no single solution that's right for everyone. The key is synthesizing the options down to the right solution for you.
@bryant6524
4 ай бұрын
Great video. Thank you for putting this together.
@RussellWatsonFMHL
4 ай бұрын
Glad you enjoyed it!
@sherrycampbell9196
2 ай бұрын
Always a great vlog..the information was great to have ..one day my retirement which started at the age if 39..will hopefully be in florida and no longer be on the Virginia Tennessee line ❤
@RussellWatsonFMHL
2 ай бұрын
You can do it! Love to see you down here!
@keezjordan1619
Ай бұрын
Lot rent has skyrocketed. Builders are buying up Mhp to convert to apt buildings.
@RussellWatsonFMHL
Ай бұрын
There is a common misconception that land-lease communities are still affordable at low and very low income levels and that leads to a lot of frustration by those who were counting on them as a low income housing option. As for development, there are occasionally (one or two a year) some smaller and very old communities that close to be sold for other land uses. (apartments, shopping mall, etc.) But these are not the MH Resort parks most are interested in. We discuss how to measure/mitigate that risk in our MH Buyer program.
@terrysiegel3402
4 ай бұрын
Great information! Would love to know why your first home was such a mistake, and what you learned from it.
@RussellWatsonFMHL
4 ай бұрын
I'll add more to the story in future episodes. Suffice it to say I offer guidance in my MH Buyer program to help others avoid those mistakes and many more I have seen along the way.
@alicejette5635
2 ай бұрын
Great info , I live in a leased park poorly manager and up keep except for the residence who maintain their property good thing that there are people who care rent is going up dreading the notice of increase for 2025 I do need to ask you a question how is the rent crease done I was told it calculated by the cpi is that so would love to hear from you I have lived in Brevard County for 40 years thank you for your time, Alice in Fl
@RussellWatsonFMHL
Ай бұрын
@@alicejette5635 Every park has a prospectus and within that prospectus the manner in which rent increases may be applied is disclosed. As to the actual calculation that is up to the park owner as long as it falls within the specifications laid out in the prospectus. Should a majority of affected residents conclude the increase is unreasonable they may challenge it through mediation at DBPR.
@billp9482
4 ай бұрын
Good synopsis, I think owning the land in a resident owned community is the best option if one can find one in a good somewhat safe location. The downside to land lease operations is that the operating costs are always passed to the residents in order to maintain profits. What are the risks to the owners? Primarily damages to the clubhouse and pool areas which they insure via the monthly fees. As we saw in Ft Myers’s beach area several of these communities were completely destroyed but it was the residents who lost their Gomes if not insured, my question is do the residents in this circumstance still have to pay lot rents for a home that was destroyed and they just spent a few thousand dollars to have it removed?
@RussellWatsonFMHL
4 ай бұрын
Once your home is removed from a lot and the debris cleaned you can terminate your lease. Or, you can negotiate with the park to have a new home installed on the lot.
@bluemoonriderlipa6880
Ай бұрын
If you get sinkhole insurance on your MH in a land leased community, its about 2K + a year, who gets the payout from insurance, you or the land owning company? And, does the land owner have to repair the hole? Claims for SH require "structure damage", so if neighbor gets a SH, and you have no damage yet, how would park handle it? I have been looking at communities in "Sinkhole Alley".
@RussellWatsonFMHL
Ай бұрын
If you get the insurance it's on your structure and minus deductible you will be covered for repairs to anything determined to be caused by legitimate sinkhole. I believe the park owner's responsibility is to provide a safe and usable lot but I suspect an attorney or an insurance agent would be better able to answer who pays to fill the hole. No insurance covers you for something that happens to your neighbor nor does the park. Let me point out that citizens insurance includes sinkhole coverage at no extra cost so that might be a good option for you.
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