Frank Ralph
yes Billy mints hi really yeah Frank
Rolf’s company is the fifth largest
owner of mobile home parks in the United
States beautiful place thank you very
much Wow
show you in here our motto is kind of we
provide a clean safe affordable place to
live just like it is here micro housing
is hot you just have a whole lot of
people who just can’t afford I mean to
buy a house today it’s almost impossible
for people so we’re like my father the
least expensive form of detached
dwelling there is I mean some homes
you’ll see are like two thousand dollars
from Terre Haute here’s how Frank’s
business works
he buys old mobile home parks makes
basic repairs gives them a fresh coat of
paint and then puts homes on the market
basically you’re repositioning
properties bring them back to life and
that everybody’s happy
he owns the land so whether he rents out
the homes or sells them residents pay a
lot fee of around 250 to 375 dollars per
month
providing Frank with a steady stream of
revenue so what this is a unit for sale
it’s for sale or read reading this is
550 a month but if you want to buy it
we’ll sell to you for five hundred
dollars okay so hold on a second to rent
it it’s 550 right but to buy it it’s
less yes then how does it work for you
financially though well on paper it
looks pretty stupid right because I Ford
thousands of dollars into the house and
I’m going to take a loss on this house
of probably three or four thousand bucks
but just to have someone on this lot
this lot is worth probably $30,000 with
someone in it it’s worth nothing was
somebody not in it our big focus is we
want to be the land business right so
we’re willing to take hefty losses on
the homes just to be in land business
it’s not much different from how the
mobile home business started
[Music]
during World War two a slapdash
prototype of mobile homes housed
soldiers and factory workers after the
war ended small mom-and-pop shops set
out to make the rickety World War two
model a more permanent affordable
housing alternative buying cheap land
installing homes and then charging lot
fees to the residents but the difference
was that these mostly family-owned parks
usually didn’t raise rents but after
2007 the demand for cheap housing
skyrocketed and people like Frank saw an
opportunity our industry has been a
contrarian bet on poor America and that
bets been paying off really big last 8
years right whereas our customers are
the $10 to $50 per hour
folks there’s no other options out there
for those people
[Music]
yes Billy mints hi really yeah Frank
Rolf’s company is the fifth largest
owner of mobile home parks in the United
States beautiful place thank you very
much Wow
show you in here our motto is kind of we
provide a clean safe affordable place to
live just like it is here micro housing
is hot you just have a whole lot of
people who just can’t afford I mean to
buy a house today it’s almost impossible
for people so we’re like my father the
least expensive form of detached
dwelling there is I mean some homes
you’ll see are like two thousand dollars
from Terre Haute here’s how Frank’s
business works
he buys old mobile home parks makes
basic repairs gives them a fresh coat of
paint and then puts homes on the market
basically you’re repositioning
properties bring them back to life and
that everybody’s happy
he owns the land so whether he rents out
the homes or sells them residents pay a
lot fee of around 250 to 375 dollars per
month
providing Frank with a steady stream of
revenue so what this is a unit for sale
it’s for sale or read reading this is
550 a month but if you want to buy it
we’ll sell to you for five hundred
dollars okay so hold on a second to rent
it it’s 550 right but to buy it it’s
less yes then how does it work for you
financially though well on paper it
looks pretty stupid right because I Ford
thousands of dollars into the house and
I’m going to take a loss on this house
of probably three or four thousand bucks
but just to have someone on this lot
this lot is worth probably $30,000 with
someone in it it’s worth nothing was
somebody not in it our big focus is we
want to be the land business right so
we’re willing to take hefty losses on
the homes just to be in land business
it’s not much different from how the
mobile home business started
[Music]
during World War two a slapdash
prototype of mobile homes housed
soldiers and factory workers after the
war ended small mom-and-pop shops set
out to make the rickety World War two
model a more permanent affordable
housing alternative buying cheap land
installing homes and then charging lot
fees to the residents but the difference
was that these mostly family-owned parks
usually didn’t raise rents but after
2007 the demand for cheap housing
skyrocketed and people like Frank saw an
opportunity our industry has been a
contrarian bet on poor America and that
bets been paying off really big last 8
years right whereas our customers are
the $10 to $50 per hour
folks there’s no other options out there
for those people
[Music]
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