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