FACTORY BUILT

HOMES
 HOME TYPES

• Mobile – On wheels that are not removable. Campers, RV’s, Etc. Considered Personal Property
and not Real Estate.
• Manufactured – Entirely built in a factory. Sits on metal chassis with removable axels, and hitch.
Only come in one story, up to 3 sections with each section ranging from 14x56 to 18’x80’. Quality
between models drastically different. Considered Personal Property can be changed to Real Estate.
• Modular – Mostly built in factory, finished on site. No limitations on size or levels, can use any set
of plans for any type of property for any purpose. Considered Real Estate.
• Stick Built – Traditional method of building. Built on-site from ground up.
PROS AND CONS – STICK BUILT

• Pros
• Appraise highest
• No Design Limitations
• Perception
• Zoning

• Cons
• Cost
• Time
• Requires General Contractor License
• Higher Liability
PROS AND CONS - MODULAR

• Pros
• Appraise highest
• No Design Limitations
• Cost
• Time*
• Zoning

• Cons
• Perception
• Requires General Contractors License to assemble on site
• Higher liability
PROS AND CONS - MANUFACTURED

• Pros
• Time
• Cost

• Cons
• Zoning
• Perception
• Appraisal
• Limited to one level
CROSSMOD – BY CLAYTON HOMES

• Brand-New Concept
• Made to get around Zoning limitations on Manufactured homes
• Cross between Manufactured and Modular
• Appraises at full value
• Priced Between Modular and Manufactured
*Not Fully Explored as we did not have the means to pursue (Funds, License). Started
building around August/Sept 2019.
https://www.claytonhomes.com/pages/content/new-class-of-homes/building-process.html
MANUFACTURERS

• Live Oak Homes, Waycross, GA : http://liveoakmanufacturedhomes.com/

• Jay Mercer (912) 287-9015
• Cody Phillips Office (912) 287-9015 ext 137 Mobile (912) 288-0162 Email:
cphillips@liveoakhomes.org
• * Michael Pate (Wayne Frier, Byron)  (478) 956-1107

• Clayton Homes, Maryville, TN : http://www.claytonhomes.com/

• (865)-380-3000
 THE BEGINNING

Year Built: 1998 Sold Price: $90,000

Size: 1,632 SQFT Most Plumbing leaked, Mold, Roof
Acres: 3 Leaked, Appliances Broken, Foundation
Orig List Price: $100,000 was failing, Septic and Well needed repair,
List Price U/C: $110,000 missing flooring in a bedroom, bad
patching in ceiling.
HOME AFFORDABILITY

• Several Leads per day that simply do not qualify for enough to purchase a home
• Almost impossible for buyer to find homes under $200k in safe areas
• Multiple offers and lots of cash buyers
• Multiple leads regularly looking for land to put a manufactured home without the means
they qualify for enough, but need a “packaged deal”
MANUFACTURED
PERSONAL PROPERTY TO REAL ESTATE
• The manufactured home must be permanently affixed to the foundation in accordance with the
manufacturer's requirements for anchoring, support, stability, and maintenance and with HUD
Permanent Foundations Guide for Manufactured Housing (PFGMH) dated 1996.
• The manufactured home must be classified and subject to taxation as real estate. Accomplished by
retiring the title of the home to the land.
• Manufactured housing condos must be HUD-approved.
• The manufactured home must have been built and installed in compliance with the Federal
Manufactured Home Construction and Safety Standards that HUD established June 15, 1976.
Manufactured homes built prior to June 15, 1976 are ineligible.
MANUFACTURED
PERSONAL PROPERTY TO REAL ESTATE (CONT)
• The manufactured home must be served by permanent water and sewer facilities
approved by the local municipality, if available, at the site.
• An all-weather roadway must serve the site.
• The lowest finished exterior grade (if there is a basement - the lowest finished exterior
grade adjacent to the perimeter enclosure), must be at or above the 100-year return flood
elevation.
• The structural integrity must have been maintained during transport and sufficient
anchoring, support and stability must be evident.
MANUFACTURED
PERSONAL PROPERTY TO REAL ESTATE (CONT)
• The manufactured home must be a minimum of 400 square feet gross living area.
• The manufactured home must be built on and remain on a permanent chassis with the
towing hitch or running gear (wheels, axles, etc.) removed.
• All manufactured homes must have an affixed HUD seal(s) located on the outside of the
home. If the home is a multi-wide unit, each unit must have a seal. If tags are missing from
the property, the loan is not eligible unless documentation described as follows is provided.
If the HUD tag is missing, a recent "HUD Certification Verification" letter issued by the
Institute for Building Technology and Safety (IBTS) must be in the loan file.
MANUFACTURED
PERSONAL PROPERTY TO REAL ESTATE (CONT)
• Must have Engineer inspect and provide a letter of approval
• References
• Loan Requirements
• https://www.eprmg.net/ManufacturedHomeRequirements.pdf
• HUD Permanent Foundations Guide
• https://www.hud.gov/program_offices/administration/hudclips/guidebooks/4930.3G
 Quality Name Date in size SQFT BR BUY PROFIT $ on lot $ BUY $ \SQFT LOT $ \SQFT Prof\sqft

Runner Dash 8/30/18 16X66 1056 2 29377 10523 39900 27.82 37.78 9.96
Runner Dash BU 8/30/18 16X66 1056 2 29377 10523 39900 27.82 37.78 9.96
Runner Bolt 12/18/18 16X76 1216 1130 3 32179 14721 46900 26.46 38.57 12.11
Runner Sprinter 6/2/2019 28X56 1568 3 42300 21600 63900 26.98 40.75 13.78
Runner Spartan 9/4/2019 28X76 2128 1976 4 52535 22365 74900 24.69 35.20 10.51
UNCLE ROY(Runner) 5K 32X72 2140 2140 5 78601 36.73
UNCLE ROY (Runner) GUNNER 1560 3 65900 42.24
UNCLE ROY (Runner) JET 1244 3 58677 47.17
Signature Oak Wrangler 11/18/19 28X68 1904 4 66185 23715 89900 34.76 47.22 12.46
Signature Oak Apache 2 10/7/2018 16X76 1216 3 46822 12078 58900 38.50 48.44 9.93
Signature Oak Raptor 9/26/19 32X52 1664 1525 4 53729 22171 75900 32.29 45.61 13.32
Signature Oak Powerstroke 32X60 1920 3 85900 44.74
Deluxe drywall Silverado 6/6/2019 28X52 1456 1352 3 55200 22700 77900 37.91 53.50 15.59
Deluxe drywall Charger 6/14/19 32X66 2112 3 72134 22766 94900 34.15 44.93 10.78
Deluxe drywall Big Kahuna 11/26/19 32X76 2432 2254 4 79779 26121 105900 32.80 43.54 10.74
Plantation extreme Birmingham 6/26/19 32X56 1792 3 70664 22236 92900 39.43 51.84 12.41
Plantation extreme HAMPTON *higher wind R 28X76 1995 4 98900 49.57
Plantation Hilton 10/7/2018 32X60 1920 1780 3 84145 22755 106900 43.83 55.68 11.85
Plantation Bradford 6/18/19 32X68 2176 3 100199 20701 120900 46.05 55.56 9.51
Plantation Hawthorne 10/31/19 32X76 2432 2254 4 104125 23775 127900 42.81 52.59 9.78
UNCLE ROY (plant.) Patriot 6/20/19 32X76 2432 2273 4 103644 27695 131339 42.62 54.00 11.39
Plantation Biltmore 9/19/19 43X66 2838 2340 3 118925 25975 144900 41.90 51.06 9.15
UNCLE ROY (Plant) JAMISON 2100 3 126500 60.24
SITE PREP, UTILITIES, CLOSING COSTS, REALTOR

• Soil study : 420

• Land Clearing: $4,000
• Health (well/sept): 250
• Permit : 400
• Foundation: 7,000 (based on quote for the ‘Charger’)
• Drainfield&Septic: 6,000 (based on Charger)
• FHA inspection: 2,000 (quote W.Frier) 
• Electric: 1,250
• Well: 7,000 (FIXED price water guaranteed- no quote available!) 
• Closing cost: 3,000 (of using preferred lender...) 
• Porch&deck: 2,250+1,750= 4,000 for 2x 10x10) 
• Driveway: 2,000
• TOTAL: $35,320 + 5% Realtor Fee
APPRAISAL

• No Comps for Manufactured

• Most new manufactured homes are purchased by occupants from dealer only land
purchase price recorded in taxes.
• Talking with appraisers if home is similar to stick built, can appraise as high as $85/sqft.
North along border with Coweta $95/sqft.
• Compared to Stick Built recent sales:
• $109/sqft – 12/19 – MLS: 8648768
• $142/sqft – 12/19 – MLS: 8648784 (Daylight Basement)
• $114/sqft – 10/19 – MLS: 8660126
MEDIAN INCOMES - AFFORDABILITY (4% APR)

• Fulton County - $70,930 – Max Mortgage $1,950/mo ~ $330K incl. PITI

• Fayette County - $84,861 – Max Mortgage $2,333/mo ~ $375K incl. PITI
• Coweta County - $67,570 - Max Mortgage $1,858/mo ~ $320K incl. PITI
• Meriwether County -$36,368 - Max Mortgage $1,000mo ~ $165K incl. PITI
• Pike County - $52,377 – Max Mortgage $1,440/mo ~ $225K incl. PITI
• Spalding County - $42,398 – Max Mortgage $1,165/mo ~ $180K incl PITI
• Clayton County - $46,646 - Max Mortgage $1,282/mo ~ 200K incl. PITI
ZONING - COWETA

• Section 122. Permitted locations. Manufactured homes which meet the definition of "dwelling, single-family" and the
compatibility standards set forth and established in Section 123 shall be permitted in all residential zoning districts.
Section 123. Compatibility standards. Compatibility standards for manufactured homes meeting the definition of
"dwelling, single-family" are as follows: (1) Manufactured homes qualifying as "dwelling, single-family" shall be
compared to site-built and other housing in the general area and within the same zoning district. Approval shall be granted
by the compatibility standards review committee upon the finding that the manufactured home is substantially similar or
superior in size, siding material, roof material, foundation and general aesthetic appearance to: (a) Site-built or other forms
of housing which may be permitted under this ordinance in the same zoning district or general area; or (b) Existing
development in the same zoning district or general area; or (c) Proposed development permitted in the same zoning
district or general area. (2) All towing devices, wheels, axles and hitches must be removed. (3) At each exit door there
must be a landing that is a minimum of 36 inches by 36 inches.
• https://www.coweta.ga.us/home/showdocument?id=276
ZONING – FAYETTE

• Sec. 110-104. - Manufactured home.

• The placement of a manufactured home in a zoning district which allows a single-family dwelling as a
permitted or conditional use, other than MHP, shall comply with the following:
• The manufactured home shall comply with all applicable zoning requirements, including, but not limited
to: minimum heated square footage.
• The manufactured home shall be placed on a permanent foundation.
• The tongue and axles shall be removed.
• All applicable requirements shall be met within 90 calendar days and prior to the issuance of a certificate
of occupancy.
ZONING PIKE

• Classifies homes a A, B, C. All New homes will be either A or B, meaning they meet
HUD standards.
• Difference between A and B is quality and aesthetics.
• A-R Districts they must be min 1,500sqft
• R-20 Districts 2,000sqft min
• R-18 Districts 1,800sqft min
• R-15 Districts 1,500sqft min, R-11 1,100sqft, …
ZONING – FULTON COUNTY– ATLANTA – SOUTH
FULTON
• Not mentioned in zoning and codes at all with respect to single family dwelling. Atlanta
only mentions needing a permit if you want to make a modification to one.
ZONING – CLAYTON COUNTY

• The pitch of the roof shall have a minimum vertical rise of three feet for each 12 feet of horizontal run within
tolerances and the roof shall be finished with composition, fiberglass, slate, concrete, asphalt, or wood shingles, or
non-reflective, crimped metal sheets.
• The exterior siding shall consist of wood, hardboard, brick, masonry, or aluminum and be comparable in
composition, appearance, and durability to the exterior siding commonly used in conventional homes.
• The tongue, axles, transporting lights, and towing apparatus from each manufactured home shall be removed after
placement or relocation on a lot or parcel and before occupancy.
• Landings and steps leading away from all exterior doors shall be designed and constructed in accordance with state
law and Clayton County Ordinances, said state law provisions being expressly incorporated by reference as part of
this requirement.
• A foundation or curtain wall, unpierced except for required ventilation and access, and constructed of masonry or
acceptable alternative materials shall be constructed and installed in compliance with county ordinances.
• (Ord. No. 2017-44, § 1, 5-30-17)
AFFORDABLE HOUSING CRISIS

• Atlanta region needs 2,000-3,000 affordable home per year for the next 10 years to solve
the problem.
• Atlanta region loses 1,500 affordable homes per year.
• Starting to effect business
• Lots of initiatives none of which have been effective.
Source: HouseATL ( Federal Reserve Bank of Atlanta, Urban Land Institute, Enterprise
Community Partners and other entities)
https://www.georgiatrend.com/2019/06/01/from-the-publisher-housing-hopes/
AFFORDABLE HOUSING CRISIS

• City of Atlanta is falling short of their goal of 20,000 affordable housing units added
• They simply do not know how to solve the problem, they are seeking funds for down
payment assistance and subsidies
• Their plan is looking to help families with incomes from $40,000 - $80,000 (Atlanta
Median Income is $80,000 for a family of 4)
• $40,000 annual income can qualify for mortgage of $1,100/mo without any assistance.
• $200,000 mortgage = $946 P&I only