The Sunny Oaks Mobile Home Park in Los Osos was recently purchased by a non-profit group, who is selling the park back to the residents. Instead of paying a monthly fee to rent the land that your home is on, that fee will go towards the mortgage that the non-profit has on the land, and you will be slowly purchasing a $65,000 share in the park. 20 years from now, the mortgage will be paid off, and the residents of the park will each own a share.
If you buy a home right now, and sell it in 10 years, the next owner will only have to keep paying towards the share for an additional 10 years. The other benefit to this situation is that your down payment will be determined by price of the home, not the price of the land. It is more affordable to purchase a home, and your share in the park will increase.
The monthly payment comes out to $655.07/month. Of this, $465 is going towards your $65,000 share in the park. The other $190 is going towards common area maintenance, and other shared amenities. 20 years from now, the only monthly fee will be for common area maintenance and shared amenities.
Click Here for a list of the homes currently available in this park.