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Stop Renting! Own The Whole MOBILE HOME PARK For LESS $$$ - YouTube
Channel: Kristina Smallhorn
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many people when they're looking for
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affordable housing options they choose
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to buy a manufactured home and when they
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make that choice they decide to put them
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in a manufactured home park a problem
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with a lot of manufacturer home parks is
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that you never own the land underneath
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it you're rented and that can be a big
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problem so what can you do if you live
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in a manufactured home park and you read
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the space is there any way that they can
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actually own the land that is underneath
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it well there is a solution is called a
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co-op there is a way for you and your
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people in your community in your park to
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do this and I'm going to show you that
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today
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[Music]
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so if you happen to live any
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manufacturer home park and it happens to
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be owned by a mom-and-pop business a lot
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of times they're selling them out into
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big companies and when they sell them
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out to big companies they're having to
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make decisions that nobody should have
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to make years ago we have lived in
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another mobile home park and it was not
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a very good experience at all the owner
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didn't take care of the place that we
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had no say in anything the rents went up
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$50 a year or more every year Ella
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Carter lives on a fixed income in ss
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Kay's Beachwood community in Fort Wright
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her lot rents just gone up seven percent
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and it all adds up to a bill she can't
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afford before I said it made it a
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decision am I going to eat today or not
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now it's a matter of okay now which
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medication my going to take and half so
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that I can make it stretch out a little
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bit longer when it comes to food or
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medicine nobody needs to make those
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kinds of decisions in order to live in
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affordable housing but the alternative
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is a co-op and I know it sounds like a
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big undertaking but there's a non-profit
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group called roc-roc
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resident own communities that will help
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you guide you through the process of you
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as a community owning the park
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yourselves so that way you can have your
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independence hi my name is Paul Bradley
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Ann I'm the president of Rock USA Rock
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USA's reason for being is to help
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homeowners gain security of the land
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under their homes as renter's of the
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land homeowners face three basic risks
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excessive rent increases for quality
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infrastructure and the biggest risk of
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all community closure where homeowners
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are displaced so since 1984 homeowners
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have been organizing co-ops and
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purchasing their communities and
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becoming resident owned communities but
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people want to know how is it really
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helpful to you and the people in the
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community how is it that rock could
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really help you
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working with rock USA and NeighborWorks
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Montana has benefited the coop by
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leading us through the roles that we
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need to do to get to where we need to be
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and Rock USA and both NeighborWorks
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Montana have been wonderful with any
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questions that I have guiding us towards
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websites that we need living in a coop
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your rent doesn't go up so it's
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affordable for single pair
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grunts or families that are lower income
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and it seems that they take better care
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of their they take pride in their
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trailer park
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the cooperative model is a perfect fixed
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they are a group of homeowners that own
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their homes but rent the land from a
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single corporate entity generally so
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they form their own corporation a
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cooperative enterprise to purchase the
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land but it's for the benefit of every
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homeowner member in the community so in
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order for you to take the next steps and
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decide that if you want to be a co-op or
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not you're gonna have to meet with
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everybody in the neighborhood and have a
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community meeting and see if this is
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something you want to move forward with
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next that's when you're gonna want to
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introduce yourself to rock and they're
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gonna go through these steps homeowners
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that get together in co-op really face
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three basic barriers to becoming a
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resident own community first is just the
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opportunity itself that community owners
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provide to homeowners to go through the
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process of acquiring the property to is
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access to the training and education and
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the technical assistance both
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pre-purchase as well as post purchase
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and third is access to financing the
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idea of a co-op has been around for
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years I'm sure you've heard of it in
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many condominium associations it's so
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it's not just for people that are living
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in manufactured home parks and there's
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many people that are very satisfied with
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their cooperative in their manufactured
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home park my name is Laurie westendorf
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and I live in Morningstar community and
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I have been here for two years and I am
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the president on the board of directors
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resident ownership to me it means a
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portable housing and also having a say
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in our community some of the changes
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that I have seen is more community
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involvement feeling like a sense of
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security
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I love living here my name is Lisa and
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I've lived here for three months
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mmm I mean here has made my life better
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because I know that I can afford to stay
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here and it's it's also made it better
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for my kids I love what I do here I love
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being on the board I love
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working on things that can improve these
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people's lives I don't get along with
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everyone but I care about everyone I
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think the scariest part when it comes to
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all this is that you're concerned about
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the financing how is it that you're ever
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gonna be able to afford the kind of
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money that's needed to buy the whole
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entire park even if you do gather
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together well they have an answer for
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that too one of the key assets that Rock
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USA provides to homeowners in
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communities of course is access to
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capital we help low and moderate income
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homeowners act like deep pocketed
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investors and allow them to purchase
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their communities in order for us to do
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that we really have to be aligned with
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larger institutional lenders the
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national co-op bank and MetLife
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represent that to rock USA capital they
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provide the institutional capital access
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to the capital markets that we could not
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as a nonprofit alone access but they're
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large those large institutions and
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that's financial strength allows us to
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serve communities in the best possible
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way well what about the infrastructure
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of your park what if it's in disarray
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and has been a total mess for years and
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because your previous owner really
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didn't take care of things or you have a
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big corporation that just collects the
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money and doesn't really do anything for
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your park and the roads need fixed and
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the lights need fixed what avenues is
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brought going to provide to you so you
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can get these things fixed prior to
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being able to purchase the property many
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communities when they're purchased have
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outstanding health and safety concerns
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whether it's sewer water or electricity
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or really streets and trees and each
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community is equipped with a property
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conditions report by a civil engineer to
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schedule those improvements out and
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address those through their early years
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of ownership and it represents a
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significant interest among homeowners to
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get things fixed and get the community
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operating smoothly well and working with
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rock and with NeighborWorks Montana
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we haven't budgeted in for road repairs
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we have a certain amount of money every
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month that goes towards that so it's all
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budgeted to be part of what our payments
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are we have made a community center
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we've done a lot of improvements we did
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a road project improvement so many many
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things and looking forward to many more
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once the home owners have purchased the
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community they're really their long-term
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interest is in the affordability and in
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the quality of the community so they
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make investments in physical
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infrastructure and the quality of the
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social environment but also they are
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watching their finances what translates
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into monthly site fees so we watch that
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too and over the over the longitudinal
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study that we're involved in through a
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third party we've documented that rents
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in resident own communities are $25
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below market after five years of
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ownership what excites me after ten
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years of working in states across the
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country is homeowners everywhere want
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the same basic thing they want a decent
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community that's safe and secure and
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affordable and with that we have a
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tremendous match and when homeowners
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have the opportunity we have proven time
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and again that we can provide the access
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to the resources the training and
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education and the financing to make that
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possible and we're excited to continue
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to grow and support more homeowner
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groups throughout the country I think we
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also have a responsibility as a
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cooperative in being different and in
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making sure that we do take care of our
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place that we're responsible with the
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coop and then the community outside our
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community's perception of us is changed
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by that there is such a sense of
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community here especially since we've
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become community owned and the best part
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about living here is I will own my own
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home and I will be able to afford when
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I'm older to steer if you've been
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watching my channel for some time you
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know that affordable housing options has
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always been a passion of mine whether
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it's for housing the homeless or just
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helping people become real homeowners
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where they own the land underneath it if
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you this is something you want to look
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into go ahead and visit the website Rock
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usa.org if you want to ask some
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questions and get some information
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online there's actually a virtual summit
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that's coming up then you can be a part
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of and it's 100% free I will go ahead
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and leave you a link in description many
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members of rock USA will
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be there as well my name is Christina
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small horn your real estate was for her
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and I tell you all this because you
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matter
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