Issue link: https://read.dmtmag.com/i/231807
lack of sizable down payments. The emerging demand for affordable workforce housing may be the first indicator of the ability for manufactured housing land lease communities to provide for this need. For some time now, with the current relatively low interest rates homebuyers with sufficient down payments and fair to good credit scores have been able to purchase new and repossessed homes in many markets. Still, there is an unmet need for families with fair to medium credit and minimum down payments, especially in markets where there is good employment. The emerging demand for affordable workforce housing may be the first indicator of the ability for manufactured housing land lease communities to provide for this need. Some older manufactured housing communities with a relatively high number of vacant homesites, which were at one time filled, have elected to provide "affordable" housing for those in the workforce who otherwise haven't been able to get "back on their feet" again. How did they do it? In North Dakota and South Texas notably, to meet high family housing demands, new manufactured housing land lease communities are being built. And, in other areas, when used and repo homes they were available, a number of community owners purchased and installed them, offering them for occupancy with a "lease to own" option for which the landlord determined the credit worthiness of the buyer. Monthly home lease payments for lower cost used/repo homes, primarily single section post 1976 HUD Code homes, in combination with the monthly lease payment (rent) were often below those of area apartments, and resulted in successfully filling vacant communities. No matter where the need exists, the need for affordable housing for workers with families located near the jobs grows with new jobs. While many may overlook the possibilities of using low cost, manufactured housing, those who are willing to use lower cost factory built homes in combination with some of the newer lease-to-own strategies have been able to meet these needs. T J Edward "Eddie" Hicks, Principal Consultant, CRG, Inc., Lic. Mortgage Broker, Lic. Real Estate Broker, 813 300-6150, with over 45 years experience as m/h retailer, manufacturer, developer, and RE Broker assisting clients with their property development, financing, or acquisition needs. easteddie@aol.com, www.mobilehomepark.com, www.factorybuilthome.com, www.fha207m.com Visit our website: www.journalmfdhousing.com You can view back issues as well as the latest issue online. I have just completed a 16 page booklet on how to hold a profitable yard/garage sale that is a perfect hand out to any of your prospects needing more down money. It is a complete outline showing how to maxamise their profits. Also great for the downsizing prospect showing how to sell no longer needed items! Send a check for $10.00 PLUS YOUR NAME AND EMAIL ADDRESS to Salesmaker Associates, 4014 Primrose Drive, Allentown, PA 18104 and I will download a master copy you can use to make as many copies as you wish for your company's use. No. 11 on Get It Quick Page JANUARY 2014 21 THE JOURNAL