MHWeekly » Mobile Home Park History http://www.mhweekly.com Mobile Home Park Industry Weekly News Wed, 08 Sep 2010 20:43:16 +0000 http://wordpress.org/?v=2.8.6 en hourly 1 Mobile Home Park Owner Gifts $900,000 To Christian Television Station http://www.mhweekly.com/mobile-home-park-owner-gifts-900000-to-christian-television-station/ http://www.mhweekly.com/mobile-home-park-owner-gifts-900000-to-christian-television-station/#comments Mon, 22 Mar 2010 05:50:44 +0000 Frank Rolfe http://www.mhweekly.com/?p=267 Jim Galaway, a 78 year-old mobile home park owner in El Paso, Texas has given $900,000 to Channel 38,which broadcasts Christian television programs 24 hours a day from El Paso. The $900,000 is being used to buy a 13,000 square foot building and equipment that formerly housed Channel 4 in El Paso.

Channel 38 went on the air in 1989, and was started by Saint Clement Episcopal Church, The Channel 4 building was built in 1940.

Galaway moved to El Paso in 1961, and developed 450 mobile home lots while working full time as an electrical technician. “The Bible says to go into the world to spread the gospel” said Galaway. “This is my way of doing it”.

Frank & Dave’s Analysis of This Story:

It’s pretty neat that a guy can make enough money with a mobile home park, on the side, to pay for his dream.

]]> http://www.mhweekly.com/mobile-home-park-owner-gifts-900000-to-christian-television-station/feed/ 1 Two Lots For Sale in Montauk Mobile Home Park http://www.mhweekly.com/two-lots-for-sale-in-montauk-mobile-home-park/ http://www.mhweekly.com/two-lots-for-sale-in-montauk-mobile-home-park/#comments Fri, 26 Feb 2010 17:31:05 +0000 Frank Rolfe http://www.mhweekly.com/?p=237 Two lots have come on the market in the Montauk Mobile Home Park in Montauk, Long Island. The 199 lot complex became a condominium park in 1976, when 152 existing residents banded together to buy the park out of bankruptcy.  What makes the park unique is the 900 feet of beach frontage on the Atlantic Ocean. And not just any beach, but what is considered some of the finest surfing in the U.S.

The trailer on lot #29 is listed at $495,000.

Frank & Dave’s Analysis of This Story:
Can you imagine reading this article if you were they guy who let this thing go back to the bank in 1976? Assuming the average lot, without ocean frontage, sells for $200,000, then this park would be worth $40,000,000! In 1976, it probably had a note of $400,000 or so. It’s still not the most valuable mobile home park in the U.S., which honor arguably goes to Paradise Cove Mobile Home Park in Malibu, California.

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