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Legacy
Legacy

Helping Mobile Home Entrepreneurs since 2005

1
Jan
FRONTPAGE

Why (and How) You Should Be Investing in Mobile Home Parks.

A look at why mobile home parks are one of the best investments in all of commercial real estate

In general, a mobile home park owner simply rents out small pieces of land to others. Investors can purchase the entire mobile home park and lease each pad to residents that either rent or own a mobile home.

Mobile home parks provide affordable housing for low-wage earners in the U.S., and with that, also provide stability to owners in the case of a declining or depressed economy.

The kicker is that, not only are mobile home parks in demand, but they provide clear returns. So much so that mobile home parks have the highest cap rate of any real estate niche, at roughly 7-10% nationally.

But despite their returns, only about 20% of mobile home parks in the country are professionally owned, leaving the remainder of the market up for grabs by investors looking to begin or diversify their investment portfolio.

Benefits to Mobile Home Park Investments

Low Cost Per Unit

Mobile home parks allow you to acquire more units for less money. It’s the lowest cost investment per unit of any real estate asset class.

Most park owners own the land, and not the units themselves. This means the cost of investment is typically a lot less in comparison to the number of units.

For example, you might be spending $100,000 + per home or apartment unit, but as little as $10,000 per lot in a mobile home park.

Low Risk

Investing in mobile home parks is a lower risk decision. The risk of loss only decreases with more individual units. When you have more tenants, the risk is more spread out.

When you own a large collection of units, the high cost of occurrences, such as eviction or random expenses, are spread out across a large portfolio and are less of a hit.

High Demand

As we mentioned earlier, the demand for mobile home parks is high. But, new mobile home parks aren’t being developed often due to government zoning changes.

This means the demand for mobile homes in well-managed parks is increasing as the need for affordable housing continues to grow. Baby boomers on fixed-income are retiring with little savings, and mobile homes are a good solution for the affordable housing deficit.

Low Turnover

A huge expense for multi-family properties is tenant turnover. Cleaning the unit, tracking down a new tenant, lack of income during vacancy all take away thousands of potential monthly income.

However, mobile home parks have low turnover because it costs the tenant thousands to move their home out of the park. Most mobile home park owners plan to stay for at least 5 years. This means that turnover is low, and there is little risk.

If tenants do decide to vacate, they often sell their mobile homes which allow the opportunity to increase the rent of that lot.

Less Competition

Many of the mobile home park owners aren’t huge investors with a ton of capital. Instead, most are simple operations with owners that aren’t professional landlords.

This allows you to purchase at reasonable rates, then create improvements and new value that will attract long-term tenants.

Mobile home park investing is also great for investors who do not want to compete with the huge volume of investors looking for traditional real estate investments.

 

To start your very own mobile home community contact me at ezidbarajas@legacyhousing.corp!

 

24
Dec
FRONTPAGE

Legacy's Retail Finance Program For Small Business Owners

In today's economy, rents are increasing rapidly while incomes remain stagnant. This leads to a demand for affordable housing which new home construction can not meet. The gap is closing between features offered in site-built and manufactured homes. Legacy provides the best value home and our most competitive financing ever.

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With the Legacy In-House Retail Finance Program, it is designed to be a partnership between Legacy, and you, the dealer. As a Legacy retailer, you find customers you want in your portfolio, and together we will make the loan. You will be paid 80% of the profit as well as approved expenses upfront, and 20% of the profit will be held back as your investment in the loan. Once Legacy’s contribution is paid, as our dealer partner, you will participate in the profit-sharing at an 80/20 Legacy/Dealer split.

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As an In-House dealer, you have access to the best finance program on the market, not just for you, but also for your customers. Our program was designed to share the profits, and allow you to close loans quickly and easily. Our flexible income verification gets your customers approved in-house who have trouble qualifying elsewhere. Our “no insurance required” loans give your customers a lower monthly payment because there is no insurance escrow. Combine that with our lowest down payment program at 9%*, and more of your prospects will turn into deals. 

For more information about our retail finance program contact me at ezidbarajas@legacyhousingcorp.com

12
Dec
FRONTPAGE

Legacy Housing Tiny Domination Program Made For Big Profits

Tiny homes are more popular than ever! The tiny movement is bringing awareness of a customer base that believes that “bigger is not always better”, so who are we to argue! With site-built housing costs increasing, millennials, baby boomers, and generation Z have decided to go tiny. By creating a smaller ecological footprint and upkeep costs, this movement has created tiny house communities throughout the country.

Legacy Housing is an industry leader for the emerging “tiny guest house” market, which are structures between 120 and 399 square feet in size. Legacy’s accessory dwelling units come in a variety of models and floor plans, which range from 1 to 3 bedrooms and include the option of adding a large covered patio or combining multiple tiny’s into a tiny compound.

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With the Legacy Tiny Program, you have a chance of adding tiny inventory to your business for a tiny investment. Legacy offers competing flooring rates for all of your Tiny needs. Legacy tiny dealers get a generous discount from our wholesale pricing. With low monthly flooring rates and low upfront costs, this business model was designed to make you money. Our Tiny program is made for profits that are not tiny, so apply now! and take your retail business to next level.

Contact dealers@legacyhousingcorp.com to get started today!

 

10
Dec
FRONTPAGE

Start Your Own Mobile Home Dealership With Legacy Housing Corporation

The opportunity for you to start your own mobile home dealership is here. Stop working for the man and obtain freedom by having your own business. With the right team, product, and tools, you can sell a Legacy to every household that steps into your store.

The affordable housing industry is the most recession-proof sector of homebuilding. Legacy is the best solution for people that need a high-quality home, without having to pay a high monthly payment. This means you can provide housing for a third of the cost of site-built homes, when you work with Legacy, you are in business for yourself not by yourself. We support you at every step.

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As a Legacy Dealer, you will have access to many resources and a vertically streamlined company. We are your one-stop-shop for building high-quality manufactured homes while providing affordable inventory flooring to stock your home lot. We take it to the next step by providing your customers with In-house financing that will help your loan portfolio. And there is more, we aid you in the delivery and transport of the homes and offer an extended warranty to your customer. 

Now let’s talk about money. With the Legacy In-House Retail Finance Program, it is designed to be a partnership between Legacy, and you, the dealer. As a Legacy retailer, you find customers you want in your portfolio, and together we will make the loan. You will be paid 80% of the profit as well as approved expenses upfront, and 20% of the profit will be held back as your investment in the loan. Once Legacy’s contribution is paid, as our dealer partner, you will participate in the profit-sharing at an 80/20 Legacy/Dealer split.

No alt text provided for this image

As an In-House dealer, you have access to the best finance program on the market, not just for you, but also for your customers. Our program was designed to share the profits, and allow you to close loans quick and easy. Our flexible income verification gets your customers approved in-house who have trouble qualifying elsewhere. Our “no insurance required” loans give your customers a lower monthly payment because there is no insurance escrow. Combine that with our lowest down payment program at 9%*, and more of your prospects will turn into deals. 

*9% downpayment if criteria are met

Let's connect and grow your retail business! Contact dealers@legacyhousingcorp.com

9
Dec
FRONTPAGE

Mobile Home Park Developments With Legacy Housing Corporation

One of the many challenges we face in the industry is the lack of spots remaining in America to place new mobile homes. With the continuous rise of stick-built homes and the rise of demand for affordable housing, it leaves a big market for affordable housing development. But why are we not seeing developments being done throughout the country?

One of the biggest things we hear is the lack of support mobile home entrepreneurs receive from banks. They are not able to get approved to receive funding to develop the land needed. We are proud to back the entrepreneur in all facets of park development.

From start to finish, Legacy is committed to providing you with all the tools and resources that you will need through this journey. From providing the manufacturing of the homes, engineering expertise, to the financing, delivery, and setup, we have you covered.

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Finance terms of development

Let's talk about financing. Legacy has continued to offer to finance new mobile home park developments ranging from $1 million to $10 million on 10 year terms starting at 7.9%-12% if certain criteria are met. With this funding, you will be able to cover site prep costs, transportation costs from Legacy, set up costs, landscaping, skirting, decking, and the cost of Legacy homes.

Guidelines include but are not limited to:

  • New Mobile Park Development
  • 20-30 Mins from a SMSA ( Standard Metropolitan Statistical Area) 
  • 10-20% Down Required
  • Minimum of 100 Lots

We are excited that you want to join us on this journey. The first step is filling out an application* which you will receive by emailing parksdev@legacyhousingcorp.com If we think you are a great fit, you will have a chance to meet with Legacy’s Executive team to discuss your project in its entirety. 

* application can be acquired by emailing the email 

 

8
Dec
FRONTPAGE

Legacy Housing's Consignment Program For Small Businesses

Consignment or floor plan financing is a revolving line of credit that allows the borrower to obtain financing for retail goods. These loans are made against a specific piece of collateral (Mobile Home Inventory). When each piece of collateral is sold by the dealer, the loan advance against that piece of collateral is repaid.

In short, consignment allows dealers to borrow against retail inventory. The dealer repays that debt as they sell their inventory and then borrows against the line of credit to add new inventory.  

How Does Legacy's Consignment Dealer Program Work?

  • This program enables the dealer to purchase needed inventory at minimal costs on a credit-based rate system with monthly prorated billing.
  • We create an 80/20 portfolio which means 80% of profit is paid upfront and 20% is completed through the remaining portion of the loan after it has been paid.
  • You can finance new Legacy homes, repo homes, and tiny homes through Legacy consignment.

Below are some of the many dealers that use our consignment program.

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We have many dealers throughout the U.S. that like this financing tool and use it to their business advantage.

Do you need something like this for your business? Contact me to get started and skyrocket your sales.

Phone: 817-799-4835

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