Monday, January 26, 2015

The Money Continues to Roll into Blu Homes

When it comes to making a profit I really don't anything about that side of Blu Homes' business or should I as that is not something that very many modular home companies make public.

What I do know is that they have one helluva investment generating machine. On December 24, 2014 they got $24,000,000 of investment money and now an SEC Filing has come to my attention that shows they got $35,000,000 on 12/30/14. Now the first $24,000,000 may be part of this amount but I really can't be sure.

The SEC Filing for 12/30/14 also shows that Tim Disney, whose house is the primary marketing piece, is listed on the Board of Directors and Maura McCarthy is listed a the 'promoter.' It also shows that a "Finder's Fee" in the amount of $1,000,000 was paid. Who would get that?

CLICK HERE to read the SEC Filing

Another English City Adopting Modular (not Pop Up) Housing for Redevelopment

Sandwell District, located north of Birmingham, England is to buying 41 sustainable ‘modular’ homes in Smethwick to boost its housing inventory of affordable housing.
The homes are being built by Mar City Homes Ltd using modular construction.

The local authority is set to buy 19 two-bed, 18 three-bed and 4 four-bedroom properties off-plan, with the reminder of the 142 modular homes being sold by the developer on the open market.

The modular system means the homes can be built far more quickly than the traditional ‘wet’ build system, producing new homes in weeks instead of months, the council says.

Made from the same high quality, enduring materials as regular houses, the homes are also more affordable, energy efficient and generate virtually zero-waste on site.

The properties are being built on the former Atlas Metals site in Cranford Street as part of a 142-home development.

Initial work to clear the site and prepare for the start of the build is already underway, with the council homes expected to be completed in summer 2015. The properties will be made available for rent to council tenants.

Tony Ryan, chief executive of Mar City Homes, said: "Mar City strongly believes modular construction is the future of UK housebuilding and we are delighted to showcase our innovative method through our partnership with Sandwell Council."

"We are committed to building homes that benefit people's lives and communities and we look forward to building a strong and lasting relationship with Sandwell Council. By employing modular technology, we are able to deliver economically and energy efficient homes."

Guildcrest Modular Featured in Article

Here is a nice article about one of the best Canadian modular home builders....

Modular homes far from cookie-cutter

Bruce Firestone
Ottawa Business Journal
Published on January 23, 2015

Henry Ford obviously wasn’t present when I recently visited modular homebuilder Guildcrest’s 120,000-square-foot plant in Morewood, about 50 km southeast of Ottawa, but his spirit definitely was.

Guildcrest Homes factory, Moorewood, Ontario, Canada

Watching factory-built homes roll down the company’s assembly line each week in this giant hive of activity with more than 120 employees homes is inspiring. Once assembled, the homes are loaded onto flatbeds, trucked to their new location, placed on footings and a foundation, and voilĂ , homebuyers have a new dwelling.

Along the way, Guildcrest Homes has found creative solutions to problems such as how to keep load heights to about 13 feet – gang nail roof trusses are hinged so they unfold upwards after delivery and lock in place.

As my tour guide at the plant, 12-year company veteran George Tierney, notes: “We’re pretty sure that if a wood-frame building comes into contact with a concrete overpass at 100 km/h, well, we know who’d win.”

The company has overcome technical challenges like this through innovation. It also appears to be able to consistently deliver good-quality products on time, an issue that often bedevils the stick-built mainstream homebuilding business.

Indeed, a lot can go wrong when building a new home. It’s a complicated process, and it’s not unusual to have 30 or more unresolved building issues when a new stick-frame house is completed.
But assembling houses in a controlled environment, as Guildcrest does at the rate of about one a day, should mean that they can deliver on time and with fewer problems.

The firm’s record with Tarion, Ontario’s new home warranty program, seems to bear this out.

In 10 years, Guildcrest has sold 418 dwellings in Ontario. Over that time, it has had just one chargeable conciliation, which occurs when Tarion determines that one or more items reported by the homeowner are warranted under the plan and the builder failed to repair or resolve the items during the applicable repair period.

Friday, January 23, 2015

Blu Homes Gets Fantastic Christmas Present

Update 1/26/15: The Money Continues to Roll into Blu Homes

Blu Homes, the CA folding modular home company, has a history of getting huge sums of money from unnamed investors. I don't know how they do it considering they seem to be the only modular company that produces less than a hundred homes a year to have received well over $60,000,000 in investment money since their inception in 2008.

On December 24th, they reported they just received another $21,675,000 in investor money without disclosing how it would be used.

With all the money they have received previously and what they just got, that would be enough to buy almost every modular factory on the East Coast. So my question is why are they stockpiling all this money?

It certainly isn't to produce more homes to meet an overwhelming demand for their folding homes.

SEC Regulatory Filing

Just asking.

Yurts and Barrels Could be the Next Thing in Modular Tiny Houses

Among the new exhibitors at this year's IBS 2015 in Vegas was Dave Byers, owner of Barrel Enterprises Inc. near Sussex in New Brunswick, Canada. His company makes homes, yurts and saunas out of Canadian lumber. The catch: all of his structures are round. “Round is the new square,” Mr. Byers said on the IBS trade show floor near a display of his company’s tubular sauna, which sells for $8,500 to $15,000. 

“Everything I do is round because not a lot of people are doing it.”

Thursday, January 22, 2015

US Modular and Irontown at IBS 2015

UPDATE: IBS 2015 attracted 65,000, up from 51,000 last year according to the National Association of Home Builders.

US Modular is showing half a modular home at this year's IBS. The other half is in Phoenix, AZ, the city hosting Super Bowl XLIX, awaiting the return of the IBS half, where the two halves will be showcased in association with Rebuilding Together’s 20th Anniversary as a Super Bowl Sanctioned Event Partner.

The completed home will be donated through a joint effort of NGHTV, Champion Homes and US Modular Inc. plus product partners to Rebuilding Together, who will donate the home to an injured veteran in the Phoenix area. The home will feature state of the art products from leading manufacturers for builders and Archtects to tour at this year’s IBS.

This is a great way to show just how complete a module is when it is shipped.

Irontown Homes built another beautiful modular home for IBS 2015. They are ahead of their competitors when it comes to holding an Open House. How would you like 100,000 parading through your home in just 3 days? You'd love it!

Dreamline Homes Accepts "The Hopper" Challenge

Kris Megna, President of Dreamline Homes in MA has accepted my challenge to donate a "Hopper the Cancer Crusher" frog for pictures of a completed home to be featured on this blog.

Hopper is the plush frog developed by Kylie Kuhns, daughter of the owner of Apex Homes, for children with cancer.  Her foundation, Kelsey's Dream, was started in memory of her sister Kelsey. The frogs are given to hospitals to help these children during their hospital stays.

Kylie Kuhns holding Hopper, the Cancer Crusher

Kelsey's Dream

Here is my challenge to every modular home builder!

I will donate one Hopper for each home you, the modular home builder, send me photos of a completed home. They will be donated in your name. It takes 25 Hoppers to sponsor a new hospital and I will donate Hoppers in your name until we reach that goal. One hopper per builder.

Send your home pictures along with location, sq ft and #Bdrm & Ba to modcoach

Please consider also making a donation directly to Kelsey's Dream by using the "Donate Now" button at the top of the left hand column.
"Gary I just wanted to say thank you for your blog and for putting our house pictures on your site. We always get a good amount of inquiries after you post the photos!" said Kris Megna.
Here is Dreamline's latest completed 3,000 sq ft 4 bedroom, 3 bath home in Lexington: