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145 episodes with mobile home park investors
2 episodes with mobile home park investors
2 episodes with mobile home park investors
EP 152 : Tim Woodbridge - Mobile Home Park investors journey to Financial Freedom Real estate investor and managing member of TK Solutions, LLC, specializing in Mobile/ Manufactured Home park ownership and operations. HIGHLIGHTS IN THIS EPISODE 00:00 - Intro 01:01 - Tim's Background 03:33 - Success 06:38 - Leaving W2 10:54 - Mobile Home Parks 13:28 - Valuable Success Lessons 20:35 - Overcoming Challenges 27:22 - Fast Track Success 29:57 - Mindset 34:18 - Key to Success 35:50 - Book and Tech 39:34 - Connect With Tim CONNECT WITH OUR GUEST: https://calendly.com/woodbridgecapital https://www.instagram.com/tim.woodbridge/ https://www.linkedin.com/in/tim-woodbridge-62894855/ CONNECT WITH OUR HOST: Doug Clark is a husband of one, father of six, real estate investor, who is passionate about growth and living life to the fullest! His main goal is to create the life of his dreams and live it on his own terms. He intends on helping as many people as possible to realize this worthy goal for themselves as well. Reach out to him anytime to connect for any reason and you never know he may just have the answer you are looking for! His passions range from his family to being a Christian to studying and implementing success principles, technology, skateboarding, music, and martial arts to name just a few. https://www.linkedin.com/in/douglas-clark-a13a68191/ https://www.facebook.com/doug.clark.3785373 https://www.instagram.com/thedouglasbrianclark/ --------------------------------------------------------------------------------------------------------------------------- Follow us on social media @the.gentle.art.of.crushing.it Listen, like, subscribe, comment: http://thegentleartofcrushingit.com/
Are you wanting to take control of your financial situation? Or are looking to invest in something truly passive? Mobile Home parks are increasingly becoming more popular. In a sense, you are renting dirt and the tenant has to take care of their own home ( no midnight maintenance plumbing calls) However, what is really drawing people into this investment, and what are the benefits? If you are wanting to passively invest, tune in to Chad and me as he talks about his plan B and how he began his mobile home investment journey. For more information on Chad and his company check out,MHP Bootcamp - Frank Rolff, www.mobilehomeuniversity.comhttps://mhpinvestors.com/tax-advantages-of-mobile-home-parks/invest@mhpinvestors.com702-706-6904https://mhpinvestors.comTo find out more about investing in multifamily real estate schedule a call at https://www.oncallinvestments.com/Interested in joining On-Call Capital's monthly meet-ups? Sign up at - https://www.meetup.com/Apartment-Investing-As-Your-Plan-B/events/281911649/Today in Manufacturing Inside the biggest stories impacting U.S. manufacturing.Listen on: Apple Podcasts Spotify
From Tech Guy to Mobile Home Park Investor, and today's guest, Jefferson Lilly. Jefferson is a household name in the mobile home park investing space. He founded the Park Avenue Partners, a company dedicated to building partnerships and investing in mobile home parks. He also started the industry's first mobile home park podcast and the largest group on LinkedIn dedicated to mobile home park investors.[00:01 – 06:38] Mobile Home Park InvestorsI introduce and welcome guest, Jefferson LillyWe talk about Jefferson's podcast, Mobile Home Park Investors[06:39 – 17:46] From the Tech Industry to Mobile Home ParksJefferson talks about his mobile home park investing careerShares his story before getting into mobile home park investingThe mindsetBuying his first mobile home parkJefferson gives fantastic advice on how to get your real estate career started[17:47 – 24:18] THE FINAL FOURWhat's the worst job that you ever had?A job during my high school at a catering companyWhat's a book you've read that has given you a paradigm shift?The SnowballWhat is a skill or talent that you'd like to learn?How to build corporate culture and teamsWhat does success mean to you?"Having the flexibility to both have a job that I very much enjoy but also have time to spend time with my family."Connect with Jefferson online. See the links below.Final words from me Tweetable Quotes:"Certainly, book learning is good, but at least for me, I learn exponentially faster when I could just sit down live with somebody that has been there, done that, and ask them all my dumb questions." – Jefferson LillyResources Mentioned:Mobile Home Park Investors websiteMobile Home Park Investors group (LinkedIn) You can connect with Jefferson on LinkedIn. Visit their company website https://parkavenuepartners.com/. WHERE CAN I LEARN MORE?Be sure to follow me on the below platforms:Subscribe to the podcast on Apple, Spotify, Google, or Stitcher.LinkedInYoutubeExclusive Facebook Groupwww.yonahweiss.comNone of this could be possible without the awesome team at Buzzsprout. They make it easy to get your show listed on every major podcast platform.Support the show (https://www.buymeacoffee.com/weissadvice)
My guests in this episode are Dylan Marma and Ekatherina Stepanova from Equity Tree. Ekatherina is a Principal at M2K Partners LLC, National Mobile Home Park investors group focused on value ad opportunities across US. www.mhpteam.com. I am also Co-organizer of the Mobile Home Park Investors meet up "MHP Tribe" out of NYC which holds monthly meetings. Dylan is a is the principal and founder of Cirrus Capital, LLC. Dylan has sponsored over $50 million in multifamily transactions since 2018. Interview Links: Equity Tree Resources: Create A Strategy Become The Bank Join Our Community
Jefferson is a self-made millionaire, mobile home park investment (MHP) expert, educator, and industry consultant. http://parkstreetpartners.com/ (Park Street Partners) owns 17 MHPs coast-to-coast totaling over $32mm in value. Prior to co-founding Park Street Partners in 2013, Mr. Lilly spent seven years investing his own capital acquiring and operating mobile home parks. Before becoming an investor full-time, Jefferson spent nine years in sales leadership roles with several venture-backed startups in Silicon Valley. He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business. Jefferson started and hosts the https://podcasts.apple.com/us/podcast/mobile-home-park-investors/id1069263193 (Mobile Home Park Investors Podcast). He also founded the Mobile Home Park Investors group on LinkedIn – the world's largest professional networking group focussed on MHPs (3,500+ members). Key PointsWhy mobile home parks serve an important purpose in our country How to manage properties nationwide using the latest technology Supply and demand imbalances The MHP business model Value add opportunities in MHPs Fun FactsMobile homes have a VIN number, just as a boat, car, or trailer would 10% of the U.S. lives in mobile homes Lightning QuestionsWhat was your biggest hurdle getting started in real estate investing, and how did you overcome it? Jefferson was distracted by his job, personal life, etc. He's now completely focused and disciplined in his search for mobile home parks. Do you have a personal habit that contributes to your success? Jefferson has made an effort to hire people to help him out in his business. His goal is to make himself irrelevant to his business. Do you have an online resource that you find valuable? https://www.bestplaces.net/ (Bestplaces.net) What book would you recommend to the listeners and why? https://amzn.to/2IQhBcO (The Snowball: Warren Buffett and the Business of Life )by Alice Schroeder If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be? Do the same things, but sooner. ResourcesVisit http://m/gp/product/B00NB86OYE/ref=as_li_tl?ie=UTF8&tag=jacob0ee-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=B00NB86OYE&linkId=100a9d2905599266aa7088bba0a33d55 (Audible) for a free trial and free audiobook download! http://parkstreetpartners.com/ (Park Street Partners) https://www.rentmanager.com/ (Rent Manager) – Property management software https://www.bestplaces.net/ (Bestplaces.net)
In this episode, Tim Kelly and I we were able to talk with Mobile Home Park expert Glenn Esterson from Marcus & Millichap. Listen to the nuggets of wisdom that he gives to first time Mobile Home Park Investors and his lessons learned from growing his portfolio.Connect With Glenn:WebsiteFavorite BookNumber: 4234830492Email: Glenn.esterson@marcusmillichap.comConnect with us: Facebook | InstagramSchedule a call with Mike or text ADPI to 444-999*** Please help support our friends in the NCHV (National Coalition For Homeless Veterans) as they help fight Veteran Homelessness across the country. You can donate to their cause on our website, or by clicking HERE. *** To learn how to use your VA Loan to create wealth and invest in real estate while in the military take our VA Loan Mastery CourseTo find out how you can build $10,000 a month in Passive Income while investing in the military check out This VideoCheck out "Rich Dad Poor Dad" by Robert Kiyosaki, and other great books on our Resource PageIf you are ready to get started on building wealth and want to learn how to get the most out of your veteran benefits, then make sure you grab our best selling book on Military House Hacking Active Duty Passive Income Support the show (https://www.patreon.com/adpi)
Featuring Jason Sirotin and Glenn Esterson, The Mobile Home Expert Podcast follows Jason on his journey as a potential investor into the mobile home park (MHP) industry. Guided by the experience and expertise of Glenn Esterson, the two discuss what it means to invest and manage mobile home parks, drilling down into each element that impacts profitability and success. In the seventh episode, Jason and Glenn delve into the seven most common mistakes people make as new MHP investors, with tips on how to avoid them. Timestamps: 1:52 -- Mistake 1: Not vetting tenants during due diligence period. 5:15 -- Mistake 2: Not fully understanding the impact of your relationship with the municipality. 9:43 -- MIstake 3: Lacking an understanding of the local market and what the economic and demographic drivers are. 13:25 -- Gentrification and its impact on MHP. 16:20 -- Mistake 4: Falling for cheap value ads and biting off more than you can chew as a new investor. 22:32 -- Mistake 5: Not fully understanding or carefully inspecting the infrastructure of a park. 26:08 -- What kind of inspector to get for an MHP. 28:28 -- Mistake 6: Buying at the wrong time. 32:23 -- Mistake 7: Managing expectations when it comes to financing.
Today we're going to talk about Mobile Home Park Investing with a renowned expert on the subject. Many of you know Kevin Bupp from his popular podcast "Real Estate Investing For Cashflow". Kevin is a serial entrepreneur with over $100 Million in transactions, including apartments, single family homes, office buildings, raw land, condos, and his favorite, mobile home parks. Today Kevin is going to tell us how a lunch meeting turned him into a Mobile Home Park Investor, how this asset class compares to apartment investing, why cities and municipalities are zoning these parks out of existence, and what you're really investing in when you buy one of these communities. Kevin will also share his tips on working with the homeowners and residents of these parks, the criteria he uses when conducting due diligence on an investment opportunity, and how to avoid the pitfalls that can cost investors a lot of money. Kevin shares a scary story about a very lucrative-seeming investment that went wrong because the utilities needed replacing. Kevin also teaches his methods to Mobile Home Park Investors across the country, and you can learn more by going to his websites: https://mobilehomeparkacademy.com http://dealfindersformula.com/home
Jefferson is a self-made millionaire, mobile home park investment (MHP) expert, educator, and industry consultant. http://parkstreetpartners.com/ (Park Street Partners) owns 17 MHPs coast-to-coast totaling over $32mm in value. Prior to co-founding Park Street Partners in 2013, Mr. Lilly spent seven years investing his own capital acquiring and operating mobile home parks. Before becoming an investor full-time, Jefferson spent nine years in sales leadership roles with several venture-backed startups in Silicon Valley. He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business. Jefferson started and hosts the https://podcasts.apple.com/us/podcast/mobile-home-park-investors/id1069263193 (Mobile Home Park Investors Podcast). He also founded the Mobile Home Park Investors group on LinkedIn – the world's largest professional networking group focussed on MHPs (3,500+ members). Key Points Why mobile home parks serve an important purpose in our country How to manage properties nationwide using the latest technology Supply and demand imbalances The MHP business model Value add opportunities in MHPs Fun Facts Mobile homes have a VIN number, just as a boat, car, or trailer would 10% of the U.S. lives in mobile homes Lightning Questions What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Jefferson was distracted by his job, personal life, etc. He’s now completely focused and disciplined in his search for mobile home parks. Do you have a personal habit that contributes to your success? Jefferson has mad an effort to hire people to help him out in his business. His goal is to make himself irrelevant to his business. Do you have an online resource that you find valuable? https://www.bestplaces.net/ (Bestplaces.net) What book would you recommend to the listeners and why? https://amzn.to/2IQhBcO (The Snowball: Warren Buffett and the Business of Life )by Alice Schroeder If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be? Do the same things, but sooner. Resources Visit http://m/gp/product/B00NB86OYE/ref=as_li_tl?ie=UTF8&tag=jacob0ee-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=B00NB86OYE&linkId=100a9d2905599266aa7088bba0a33d55 (Audible) for a free trial and free audiobook download! http://parkstreetpartners.com/ (Park Street Partners) https://www.rentmanager.com/ (Rent Manager) – Property management software https://www.bestplaces.net/ (Bestplaces.net)
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 120 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Anna and Justin Scribner restore vintage trailers for a living at Flyte Camp. On today’s show, Anna and Justin share how they got into this line of work, some of their favorite restoration projects, and why they no longer work on trailer models that are beyond the 1964 year mark. Key Takeaways: [2:20] What did Anna and Justin do prior to fixing up vintage homes? [5:45] How do Anna and Justin sell their vintage trailers? [12:40] How does Anna and Justin find all the parts to their trailers? [14:30] Justin shares his favorite restoration project to date. [17:00] How much does a typical renovation cost? [20:15] Were Spartans really built differently than other trailers back then? [23:20] Anna and Justin don’t renovate mobile homes past the 1964 year mark. What changed after that era? [27:40] How doe Anna and Justin find and train their employees? [33:20] Anna shares some funny client restoration stories. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Flytecamp.com Email: Contact@Flytecamp.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 120 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Anna and Justin Scribner restore vintage trailers for a living at Flyte Camp. On today’s show, Anna and Justin share how they got into this line of work, some of their favorite restoration projects, and why they no longer work on trailer models that are beyond the 1964 year mark. Key Takeaways: [2:20] What did Anna and Justin do prior to fixing up vintage homes? [5:45] How do Anna and Justin sell their vintage trailers? [12:40] How does Anna and Justin find all the parts to their trailers? [14:30] Justin shares his favorite restoration project to date. [17:00] How much does a typical renovation cost? [20:15] Were Spartans really built differently than other trailers back then? [23:20] Anna and Justin don’t renovate mobile homes past the 1964 year mark. What changed after that era? [27:40] How doe Anna and Justin find and train their employees? [33:20] Anna shares some funny client restoration stories. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Flytecamp.com Email: Contact@Flytecamp.com
Jefferson is a self-made millionaire, mobile home park investment expert, educator, and industry consultant. Park Street Partners owns 17 MHPs coast-to-coast totaling over $32mm in value. Prior to co-founding Park Street Partners in 2013, Mr. Lilly spent seven years investing his own capital acquiring and operating mobile home parks. Before becoming an investor full-time, Jefferson spent nine years in sales leadership roles with several venture-backed startups in Silicon Valley. Jefferson has been featured in The New York Times, Bloomberg Magazine, and on the ‘Real Money’ television show. He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business. Jefferson started and hosts the Mobile Home Park Investors Podcast with over 10,000+ D/L per month. He also founded the Mobile Home Park Investors group on LinkedIn - the world’s largest professional networking group focussed on MHPs (3,500+ members).
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 119 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson is back after a short podcast hiatus with some interesting updates from the latest trade show he attended. Jefferson recommends you attend the NCC trade show to learn about the latest industry news and to network with others. He’s even gotten a deal out of it himself by attending this event! Key Takeaways: [1:50] Who should go to the NCC trade show? [2:50] What economic trends have been affecting the housing industry? [7:50] Around 100,000 long-haul truck drivers will be put out of business in the next five years due to automation. [11:45] Interest rates are predicted to keep rising and we might see a mini-recession in the second half of the year. [15:00] A quick legislative and regulatory update. [21:45] Roughly 12% of all housing in Georgia is manufactured. [22:25] Nothing in section 107 of the 2155 law impacts rent-to-own agreements. [24:15] Invite all your local representatives to come to see your park and your community. Talk to them about what you’re doing. [24:51] The next talk was about how to properly manage your PR during a crisis. [30:25] Think about your positive tenants. Who are your allies? [31:35] Set Google Alerts for your name or for your park. [35:55] What is the state of the market currently? [39:25] Biggest challenge currently is hiring talented employees. [42:50] Preliminary data shows that pad rents increase faster than apartment rents do. [44:45] Have some questions or thoughts? Feel free to email Jefferson. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Meltwater.com Chatmeter.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 119 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson is back after a short podcast hiatus with some interesting updates from the latest trade show he attended. Jefferson recommends you attend the NCC trade show to learn about the latest industry news and to network with others. He’s even gotten a deal out of it himself by attending this event! Key Takeaways: [1:50] Who should go to the NCC trade show? [2:50] What economic trends have been affecting the housing industry? [7:50] Around 100,000 long-haul truck drivers will be put out of business in the next five years due to automation. [11:45] Interest rates are predicted to keep rising and we might see a mini-recession in the second half of the year. [15:00] A quick legislative and regulatory update. [21:45] Roughly 12% of all housing in Georgia is manufactured. [22:25] Nothing in section 107 of the 2155 law impacts rent-to-own agreements. [24:15] Invite all your local representatives to come to see your park and your community. Talk to them about what you’re doing. [24:51] The next talk was about how to properly manage your PR during a crisis. [30:25] Think about your positive tenants. Who are your allies? [31:35] Set Google Alerts for your name or for your park. [35:55] What is the state of the market currently? [39:25] Biggest challenge currently is hiring talented employees. [42:50] Preliminary data shows that pad rents increase faster than apartment rents do. [44:45] Have some questions or thoughts? Feel free to email Jefferson. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Meltwater.com Chatmeter.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 118 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest is Dennis Smith from Freddie Mac. Freddie Mac is considered a GSE (government-sponsored enterprise) and with that comes the Duty to Serve mandate, which focuses on three underserved markets for those who make under 80% of the median income. On today’s show, Dennis explains what the Duty to Serve initiative means and how that affects both mobile home residents and owners. Key Takeaways: [2:20] What did Dennis do prior to joining Freddie Mac? [3:40] Dennis dives into a little bit of the history of Freddie Mac and what GSE (government-sponsored enterprise) is. [4:15] Where did the ‘Duty to Serve’ mandate/regulation come from? [6:10] Duty to serve focuses on three underserved markets; Rural housing, affordable housing, and manufactured housing. How is rural housing defined? [7:40] How is affordable housing defined? [10:15] What does Duty to Serve mean for the residents of mobile home parks? [11:25] And, finally, what does Duty to Serve mean for the owners of mobile home parks? Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Freddiemac.com Freddiemac.com/about/duty-to-serve
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 116 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest is the first ever historian to appear on the show! Al Hesselbart is an RV and Mobile Home historian and has some very insightful knowledge into the evolution of the camper vehicle and what it has turned into today. Find out more about their history as we go all the way back to the beginning in 1910! Key Takeaways: [3:05] What did Al do prior to getting into RVs and mobile homes? [4:55] What types of RVs does Al own currently? [10:50] The first automotive units available for camping purposes were identified in 1910. [11:55] What did the first ‘camping car’ look like? [15:35] What kind of features did a ‘Tin-Can Tourist’ have? [18:25] After the war in 1945, what kind of changes were made to the ‘RV’? [22:05] Americans saw a big shift in RVs in the 1960s and that’s how the mobile home was born! [23:00] As big capital invests more into RVs and mobile homes, has Al seen any changes in the way they’re structured? [25:00] What kinds of trends has Al seen in people who own RVs? Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com RVHistoryprograms.com Email Al: AlHesselbart@Aol.com Call Al: 574-361-7061
When it comes to seeking out and mastering a profitable niche, Jefferson Lilly of Park Avenue Partners, a mobile home park investor, is a true leader. Looking for a stable way to provide value and earn returns, Jefferson began analyzing real estate deals in multifamily housing across the Midwest. What he found was perplexing, but he continued to pursue this path until he found out why. And he's glad he did because it led him to his life's work and his ideal investment niche! Where most multifamily apartment buildings were returning 8%, a mobile home park in the same locality was paying 10%, showing that mobile home parks were more profitable. After he saw this phenomenon ringing true repeatedly in other areas across the country, he started researching to discover why they are such a better deal than apartment buildings, office, retail, or self-storage. His discovery led to investing personally and managing investor's capital through partnerships over the last 11 years to acquire 25 mobile home parks in 13 states. His mission is to create wealth for his investors and to expand the supply of affordable housing. We'll discuss this fascinating real estate niche that's providing an opportunity for accredited investors to earn returns in the range of 8 – 15% cash on cash. The Definition of Accredited Investor If you may not know what accredited means, here's a quick definition. This is an investor with at least $1 Million of net worth, not including the value of their home, or making at least $200K if single, or $300K if married. We know that a majority of our listeners and audience fall into this category and are actively looking for ways to put their cash to work earning a return in the most productive way. If you aren't there yet, this will be an excellent opportunity to expand your knowledge in preparation. Where Investing Fits into the Cash Flow System We are a community of wealth creators. We know that it is not enough to make a great income. Instead, you have to figure out how to keep more of the money you make, protect your money, and make more through the right investing decisions. Investing is part of stage 3 in the Cash Flow System. As you build a cash-flowing asset portfolio of real estate and business, you accelerate your path to time and money freedom. Who Is Jefferson Lilly? Jefferson Lilly is the founder and managing partner of Park Avenue Partners. Jefferson is a mobile home park investment expert and educator. He is responsible for Park Avenue Partners' strategic direction, acquisitions, and property operations. Before founding Park Avenue Partners, he co-founded Park Street Partners, a similar partnership also focused on acquiring mobile home parks nationwide. PSP's investments are returning 8% - 15% cash annually to Limited Partners; appreciation is expected to increase returns further. Both personally and through his partnerships, Jefferson has acquired 25 MHPs in 13 states since 2007 totaling over $56mm in value. He started the industry's first podcast (Mobile Home Park Investors) and the largest group on LinkedIn dedicated to investing in mobile home parks. Before beginning to manage investors' money in 2014, Jefferson spent seven years investing his own capital in mobile home parks and consulting to high-net-worth families with interests in the manufactured housing industry. Earlier in his career, he held a range of consulting and sales positions with Bain & Company, Viacom, and Verisign. Jefferson has been featured in The New York Times, Bloomberg Magazine, and on the Real Money television show. He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business. Jefferson's favorite mobile home is the 1954 Spartan Imperial Mansion, upon which their logo is partially based. He finds the Bowlus Road Chief to be pretty appealing too. Jefferson Lilly Conversation Highlights (Partial Transcript)
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 115 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Denny Stone is based out of San Diego, California and is the owner of So Cal Vintage Trailer, which restores vintage trailers to running and functional condition. Denny shares his restoration process, what he likes about these vintage trailers and the types of people who are most attracted to these trailers. Key Takeaways: [1:30] What did Denny do before he got into vintage RVs? [2:55] How does Denny find his trailers? [5:35] How long does it typically take to renovate a trailer? [7:50] How does Denny find the right parts for the vintage trailers? [10:10] Denny shares how he finds his talent and what the process looks like. [15:20] What makes a Spartan trailer different than the ones available today? [19:10] What other brands of trailers does Denny work on? [20:25] How much does the average restoration cost? [23:25] What kinds of modern upgrades does Denny add to these trailers? [25:45] Are there some aspects of the trailers in the 40s and 50s built better than trailers today? [28:50] Does Denny work on any mobile homes? [30:25] There are three types of markets or people who buy these types of trailers. [34:35] Denny shares some funny restoration stories. [36:15] Does Denny do any modifications for pets? Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Socalvintagetrailer.com Call Denny: 619-857-1847
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 115 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Denny Stone is based out of San Diego, California and is the owner of So Cal Vintage Trailer, which restores vintage trailers to running and functional condition. Denny shares his restoration process, what he likes about these vintage trailers and the types of people who are most attracted to these trailers. Key Takeaways: [1:30] What did Denny do before he got into vintage RVs? [2:55] How does Denny find his trailers? [5:35] How long does it typically take to renovate a trailer? [7:50] How does Denny find the right parts for the vintage trailers? [10:10] Denny shares how he finds his talent and what the process looks like. [15:20] What makes a Spartan trailer different than the ones available today? [19:10] What other brands of trailers does Denny work on? [20:25] How much does the average restoration cost? [23:25] What kinds of modern upgrades does Denny add to these trailers? [25:45] Are there some aspects of the trailers in the 40s and 50s built better than trailers today? [28:50] Does Denny work on any mobile homes? [30:25] There are three types of markets or people who buy these types of trailers. [34:35] Denny shares some funny restoration stories. [36:15] Does Denny do any modifications for pets? Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Socalvintagetrailer.com Call Denny: 619-857-1847
Jefferson Lilly from Park Avenue Partners and the Mobile Home Park Investors podcast and LinkedIn group tells us why he thinks mobile home parks are the best real estate investment available. Plus, Joe Anderson, CFP® and Big Al Clopine, CPA answer your money questions on investing in natural resources, asset location when investing $50,000 cash, how to plan for retirement in the event your pension disappears, TSP allocation when retiring in 20 years, and transferring your 401(k) into your spouse’s solo 401(k). Transcript & show notes: http://bit.ly/YMYW-197
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 114 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson is back with another SECO Trade Show Recap. Find out more about some of the interesting things that were featured in this year’s conference and we hope to see you next year! Key Takeaways: [1:00] This week, Jefferson is doing a review of the SECO Conference he just attended last month. [1:50] The conference first started off with a session on social media marketing that was very interesting and filled with some great resources. [4:25] The next session was about five key ways to bringing in new homes. [7:00] There’s really always a risk and that includes even doing nothing. [8:30] Craigslist tends to attract a lower quality tenant, so it’s best to advertise on Facebook, Zillow, Instagram, and Mhvillage instead. [12:10] The next session was about internet marketing and the importance of mobile-friendly websites. [13:35] It is estimated that by 2020, all search will be done by voice. [15:45] HUD has filed a complaint against Facebook for violating fair housing. [18:25] Video media still dominates the internet! [20:15] Credit Human was there and they directly lend to mobile home owners. [21:10] Next session was about lessons that were learned from new park owners. [23:55] Have conversations with your tenants! Don’t make improvements that they won’t want. [25:15] The next talk was about determining the value of your mobile home park. [27:00] Thinking of selling? Plan a year or two in advance. [31:05] You should have roughly 10% of the purchase price in cash reserves when you purchase a property. [32:25] Ozone generators are a great way to remove smells from a house as well as kill bed bugs. [33:05] Jefferson lists some excellent resources for mobile home financing. [34:55] Like what you heard? Please rate us on iTunes! Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Secoconference.com Mhvillage.com Nos.twnsnd.co Hootsuite.com Purechat.com Fourleafprop.com Buy.matterport.com Usertesting.com Gatherup.com Sproutsocial.com Adespresso.com Rightcolumn.com Credithuman.com Rustiquerapidwall.com Designcrowd.com Freelancer.com Renttext.com Americancommercebank.com Vmf.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 114 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson is back with another SECO Trade Show Recap. Find out more about some of the interesting things that were featured in this year’s conference and we hope to see you next year! Key Takeaways: [1:00] This week, Jefferson is doing a review of the SECO Conference he just attended last month. [1:50] The conference first started off with a session on social media marketing that was very interesting and filled with some great resources. [4:25] The next session was about five key ways to bringing in new homes. [7:00] There’s really always a risk and that includes even doing nothing. [8:30] Craigslist tends to attract a lower quality tenant, so it’s best to advertise on Facebook, Zillow, Instagram, and Mhvillage instead. [12:10] The next session was about internet marketing and the importance of mobile-friendly websites. [13:35] It is estimated that by 2020, all search will be done by voice. [15:45] HUD has filed a complaint against Facebook for violating fair housing. [18:25] Video media still dominates the internet! [20:15] Credit Human was there and they directly lend to mobile home owners. [21:10] Next session was about lessons that were learned from new park owners. [23:55] Have conversations with your tenants! Don’t make improvements that they won’t want. [25:15] The next talk was about determining the value of your mobile home park. [27:00] Thinking of selling? Plan a year or two in advance. [31:05] You should have roughly 10% of the purchase price in cash reserves when you purchase a property. [32:25] Ozone generators are a great way to remove smells from a house as well as kill bed bugs. [33:05] Jefferson lists some excellent resources for mobile home financing. [34:55] Like what you heard? Please rate us on iTunes! Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Secoconference.com Mhvillage.com Nos.twnsnd.co Hootsuite.com Purechat.com Fourleafprop.com Buy.matterport.com Usertesting.com Gatherup.com Sproutsocial.com Adespresso.com Rightcolumn.com Credithuman.com Rustiquerapidwall.com Designcrowd.com Freelancer.com Renttext.com Americancommercebank.com Vmf.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 113 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Rich Voboril is the General Manager and one of the five Owners and Founders of PEP Lending; he shares how he helps tenants with bad credit get back on their feet and become a reliable and good tenant for mobile home park owners. Rich details his services and how he can help people who are looking to invest in a mobile home. Key Takeaways: [1:40] What did Rich do prior to joining PEP? [4:00] What types of lending programs does Rich offer to his customers? [4:40] Most of Rich’s customers have dealt with credit problems in the past. [7:10] The biggest loan Rich and his team have made was around $80,000. [7:40] Does a park owner have to become a licensed dealer in order to work with PEP? [11:00] How are the agreements usually structured between the park owner and tenant? [12:15] Rich explains what a typical loan structure looks like and how much a tenant pays, on average. [14:00] Do tenants need to find their own mobile parks or does PEP handle that? [16:30] Why does Rich not rely on bluebook mobile home values? [17:45] Are there characteristics of a mobile home that Rich and team will not finance? [19:35] What happens if the tenant is paying PEP but not the park owner lot rent? Or vice versa? [22:20] What happens if a customer defaults? [26:30] Rich prides himself and his company for being very accessible. You will always get a real, live person answering your call! Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com PEPlending.com Call Rich: 708-478-5251 Email Rich: RVoboril@PepLending.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 112 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest brings an interesting perspective and talent to the industry. Marisa Murrow is a visual artist and painter, and her subject matter? Mobile homes! Marisa explains on today’s show why mobile homes make her feel peaceful and free on today’s episode! Key Takeaways: [2:25] What did Marisa do before she became a visual artist? [5:30] What kind of paint styles does she use? [6:30] How did Marisa get started in painting mobile home parks? [8:15] Marisa has been making mobile home park paintings for the last 15 years. [9:05] How many mobile homes has Marisa painted over the years? [11:35] What is Marisa process and how does she get started on painting a mobile home? [13:55] Marisa also does mobile home park sculptures! [17:10] What do people think of Marisa’s work? [22:10] How much does Marisa’s artwork sell for? [23:05] Marisa explains how her style has evolved over the years. [27:15] Marisa shares some funny stories about dealing with mobile home park owners and tenants. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Marisamurrow.com Wayne Thiebaud
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 112 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest brings an interesting perspective and talent to the industry. Marisa Murrow is a visual artist and painter, and her subject matter? Mobile homes! Marisa explains on today’s show why mobile homes make her feel peaceful and free on today’s episode! Key Takeaways: [2:25] What did Marisa do before she became a visual artist? [5:30] What kind of paint styles does she use? [6:30] How did Marisa get started in painting mobile home parks? [8:15] Marisa has been making mobile home park paintings for the last 15 years. [9:05] How many mobile homes has Marisa painted over the years? [11:35] What is Marisa process and how does she get started on painting a mobile home? [13:55] Marisa also does mobile home park sculptures! [17:10] What do people think of Marisa’s work? [22:10] How much does Marisa’s artwork sell for? [23:05] Marisa explains how her style has evolved over the years. [27:15] Marisa shares some funny stories about dealing with mobile home park owners and tenants. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Marisamurrow.com Wayne Thiebaud
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 111 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. In this last and final installment, Jefferson wraps up his book report on Am I Being Too Subtle? by Sam Zell. Sam has made over a billion dollars in smart investments in industries such as real estate, energy, manufacturing, healthcare, and more. Jefferson was curious to read Sam’s book for his real estate and mobile home knowledge and shares what he has learned in this 3-part series. Key Takeaways: [1:05] Sam noticed that young people were delaying marriage in the early 2000’s and staying in ‘24-hour cities.’ So, he redistributed his capital. [4:15] In 2006, Sam bought the Chicago Tribune newspaper and gave his staff skin in the game. [6:20] Sam believes in globalization and has increased his international investments over the years. [7:20] However, Sam is not a fan of Europe due to too many pensioners, which he predicts would mean for higher taxes. [10:40] How was Sam able to grow his business to the next level? [11:40] Sam doesn’t want to be treated like a boss and he makes sure he is not surrounded by ‘yes men.’ [12:05] What is Sam’s hiring process? [14:10] Can entrepreneurship be taught? Sam believes that people have an entrepreneurial gene and that it’s stronger in some than others. [15:10] You cannot be successful without giving to others. [16:55] Jefferson lists nine of Sam’s philosophy principles for success. [25:45] Jefferson recommends the book! If you happen to know Sam, Jefferson would love to interview him. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Samzellbook.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 111 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. In this last and final installment, Jefferson wraps up his book report on Am I Being Too Subtle? by Sam Zell. Sam has made over a billion dollars in smart investments in industries such as real estate, energy, manufacturing, healthcare, and more. Jefferson was curious to read Sam’s book for his real estate and mobile home knowledge and shares what he has learned in this 3-part series. Key Takeaways: [1:05] Sam noticed that young people were delaying marriage in the early 2000’s and staying in ‘24-hour cities.’ So, he redistributed his capital. [4:15] In 2006, Sam bought the Chicago Tribune newspaper and gave his staff skin in the game. [6:20] Sam believes in globalization and has increased his international investments over the years. [7:20] However, Sam is not a fan of Europe due to too many pensioners, which he predicts would mean for higher taxes. [10:40] How was Sam able to grow his business to the next level? [11:40] Sam doesn’t want to be treated like a boss and he makes sure he is not surrounded by ‘yes men.’ [12:05] What is Sam’s hiring process? [14:10] Can entrepreneurship be taught? Sam believes that people have an entrepreneurial gene and that it’s stronger in some than others. [15:10] You cannot be successful without giving to others. [16:55] Jefferson lists nine of Sam’s philosophy principles for success. [25:45] Jefferson recommends the book! If you happen to know Sam, Jefferson would love to interview him. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Samzellbook.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 110 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. In part 2, Jefferson continues his book report on Am I Being Too Subtle? by Sam Zell. Sam has made over a billion dollars in smart investments in industries such as real estate, energy, manufacturing, healthcare, and more. Jefferson was curious to read Sam’s book for his real estate and mobile home knowledge and shares what he has learned in this 3-part series. Key Takeaways: [1:40] Sam recognized there was an unfilled demand in secondary and tertiary markets. [2:45] At 24 years old, Sam had already made a million dollars in today’s money. [3:30] Sam applied to 43 law firms and got rejected at all of them. He had no idea why! [6:15] Just off of referrals alone, Sam was making 3x what junior partners were making at a small law firm. [7:40] Sam met billionaire real estate mogul, Jay Pritzker and Jay would later become his mentor. [11:05] For the first 10 years of business, Sam had a relatively small team and he split profits with everyone, including the secretary. [14:10] Sam predicted there would be a real estate crash due to how easy it was to lend money in commercial real estate. [23:15] In the late 80’s, Sam warned that there were structural changes happening in the real estate market and predicted another crash. [26:45] How did Sam discover mobile home parks? [30:15] In 2005, Sam and his company began to diversity in RV parks. [31:45] Stay tuned for part 3! Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Samzellbook.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 110 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. In part 2, Jefferson continues his book report on Am I Being Too Subtle? by Sam Zell. Sam has made over a billion dollars in smart investments in industries such as real estate, energy, manufacturing, healthcare, and more. Jefferson was curious to read Sam’s book for his real estate and mobile home knowledge and shares what he has learned in this 3-part series. Key Takeaways: [1:40] Sam recognized there was an unfilled demand in secondary and tertiary markets. [2:45] At 24 years old, Sam had already made a million dollars in today’s money. [3:30] Sam applied to 43 law firms and got rejected at all of them. He had no idea why! [6:15] Just off of referrals alone, Sam was making 3x what junior partners were making at a small law firm. [7:40] Sam met billionaire real estate mogul, Jay Pritzker and Jay would later become his mentor. [11:05] For the first 10 years of business, Sam had a relatively small team and he split profits with everyone, including the secretary. [14:10] Sam predicted there would be a real estate crash due to how easy it was to lend money in commercial real estate. [23:15] In the late 80’s, Sam warned that there were structural changes happening in the real estate market and predicted another crash. [26:45] How did Sam discover mobile home parks? [30:15] In 2005, Sam and his company began to diversity in RV parks. [31:45] Stay tuned for part 3! Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Samzellbook.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 109 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. In a first ever for this podcast, Jefferson does a book report on Am I Being Too Subtle? by Sam Zell. Sam has made over a billion dollars in smart investments in industries such as real estate, energy, manufacturing, healthcare, and more. Jefferson was curious to read his book for Sam’s real estate and mobile home knowledge and shares what he has learned in a 3-part series. Key Takeaways: [2:40] Jefferson shares why he decided to read Sam’s book. [5:20] Sam basically invented business casual back in the 1970s and wore jeans to work. [6:00] Jefferson explains the types of investments Sam has made over the years. [8:25] Sam has lived through several real estate crises. [11:20] A bit of background about Sam and his family. [15:00] Sam has issues with being called ‘self-made’ [17:25] How did Sam get in real estate? [21:50] Sam became a homeowner for the first time in 1965 at 24 years of age. [26:25] Jefferson shares Sam’s thoughts on persistence. [29:45] Ask the right questions to get the deal done. [31:50] Find out more next week! Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Email: andrew@keelteam.com Samzellbook.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 108 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. In a first ever for this podcast, Jefferson does a book report on Am I Being Too Subtle? by Sam Zell. Sam has made over a billion dollars in smart investments in industries such as real estate, energy, manufacturing, healthcare, and more. Jefferson was curious to read his book for Sam’s real estate and mobile home knowledge and shares what he has learned in a 3-part series. Key Takeaways: [2:40] Jefferson shares why he decided to read Sam’s book. [5:20] Sam basically invented business casual back in the 1970s and wore jeans to work. [6:00] Jefferson explains the types of investments Sam has made over the years. [8:25] Sam has lived through several real estate crises. [11:20] A bit of background about Sam and his family. [15:00] Sam has issues with being called ‘self-made’ [17:25] How did Sam get in real estate? [21:50] Sam became a homeowner for the first time in 1965 at 24 years of age. [26:25] Jefferson shares Sam’s thoughts on persistence. [29:45] Ask the right questions to get the deal done. [31:50] Find out more next week! Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Email: andrew@keelteam.com Samzellbook.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 108 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson invites Andrew Keel to share his story as a new park owner. Andrew discusses how he found his first mobile home, the resources he uses to find new tenants and the nitty-gritty details that go into owning and managing a park! Key Takeaways: [2:05] What did Andrew do prior to mobile home parks? [5:45] Andrew explains how he found his first mobile home park. [6:55] What kind of relationship did Andrew have with the park owner? [10:35] What kind of diligence did Andrew do for the park before purchasing it? [13:30] Andrew shares the business plan he had for the park. [15:50] How did Andrew find the service providers he needed to take care of the park from a different part of the state? [18:25] Why did Andrew decide to keep the previous property manager? [20:00] Andrew shares why he uses Venmo and how it works with his bank accounts. [23:15] How does Andrew market his properties? [26:30] How many people are on Andrew’s team? [28:30] Andrew shares lessons learned and mistakes he’s made. [30:30] What are Andrew’s plans for the future? [31:10] What advice does Andrew have for newbies? Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Keelteam.com Email: andrew@keelteam.com Venmo.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 108 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson invites Andrew Keel to share his story as a new park owner. Andrew discusses how he found his first mobile home, the resources he uses to find new tenants and the nitty-gritty details that go into owning and managing a park! Key Takeaways: [2:05] What did Andrew do prior to mobile home parks? [5:45] Andrew explains how he found his first mobile home park. [6:55] What kind of relationship did Andrew have with the park owner? [10:35] What kind of diligence did Andrew do for the park before purchasing it? [13:30] Andrew shares the business plan he had for the park. [15:50] How did Andrew find the service providers he needed to take care of the park from a different part of the state? [18:25] Why did Andrew decide to keep the previous property manager? [20:00] Andrew shares why he uses Venmo and how it works with his bank accounts. [23:15] How does Andrew market his properties? [26:30] How many people are on Andrew’s team? [28:30] Andrew shares lessons learned and mistakes he’s made. [30:30] What are Andrew’s plans for the future? [31:10] What advice does Andrew have for newbies? Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Keelteam.com Email: andrew@keelteam.com Venmo.com
Jefferson Lilly is a mobile home park investment expert who co-founded Park Street Partners which owns 17 Mobile Home Parks coast-to-coast. He is the host of the Mobile Home Park Investors podcast with over 10,000+ D/L per month. He spent seven years investing his own capital acquiring and operating mobile home parks. He is definitely the go-to-person when it comes to mobile home park investing. During the episode, Jefferson educates us on what a mobile home park is and what investment opportunities surround it. He corrects the misconception of most people when it comes to mobile home owners. He presents the ups and downs of owning and operating mobile homes. He explains the Who, What, and How in the world of mobile homes. This is a very unique investment platform that will surely get you hooked! Where we are: Johnny - Ukraine Sam - Barcelona Links: Mobilehomeparkinvestors.com Parkstreetpartners.com Time Stamps: 12:14 – How he got into Mobile Home Park Investing 15:49 – What got him into value investing 17:39 – What is a Mobile Home? 20:52 – Problems in building a Mobile Home Park 23:07 – Mobile Home Parks vs. Other types of Real Estate 25:43 – Who are Mobile Home Parks for? 28:53 – Moving of Mobile Homes 30:03 – Timespan of tenants 32:21 – How long has he been in this business? 36:31 – His journey in this business 39:20 – Average size of a Mobile Home Park 43:18 – What is a Cap Rate? 48:47 – Investment Opportunities 50:52 – Returns If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2017. All rights reserved. Read our disclaimer here.
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 106 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Patrick McKenna joins Jefferson on today’s show to share his journey into mobile home park ownership. He shares mistakes and lessons learned from buying his second park, the quality of RV tenants, and his plans to acquire a third park! Key Takeaways: [1:15] Patrick originally had some issues with brokers behaving unprofessionally. How did he handle that? [3:15] How did Patrick find his second park? [6:50] What was occupancy like when Patrick bought the second park? [12:15] Since all the pipes need to be replaced in this second park, how did Patrick find a reliable and good contractor? [14:35] How has Patrick been able to finance this infrastructure upgrade? [18:05] How do Patrick and his business manage these two parks from out-of-state while also working a day job? [19:45] Does Patrick have any plans to buy a third park? Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Call Patrick: 978-204-4242 Email Patrick: PatrickMcKenna@gmail.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 106 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Patrick McKenna joins Jefferson on today’s show to share his journey into mobile home park ownership. He discusses how he did his due diligence on his first park and why he and his business partner are a great business match. This is a two-part episode, so be sure to check back next week to find out more about Patrick’s second mobile home park! Key Takeaways: [2:30] What did Patrick do before he became a mobile home park owner? [6:15] Since Patrick has a business partner helping him manage the mobile home park, how did Patrick structure that partnership? [9:50] How did Patrick find his first mobile home park? [13:15] What kind of due diligence process did Patrick undergo? [17:50] How did Patrick and his business partner market their park? [19:30] Why did Patrick decide to keep the current park manager? And how does he compensate him? [22:40] What was the lot rent when Patrick purchased the park and what is it now? [26:20] Patrick’s first park is on a lagoon! How was he comfortable buying that? [29:35] Please join us next week for part two of this interview! Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 105 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Brad Huffines is the Chief Meteorologist and VP of Risk Communication for Weathercall Services. Brad discusses the benefits of using Weathercall's product, HazardCall, and how it can inform hundreds of tenants if they're in danger within a couple of seconds. Key Takeaways: [2:50] What did Brad did prior to joining HazardCall? [5:10] What is HazardCall about and why was it Founded? [8:00] Did you know there hasn't been a mobile home manufactured in this country since 1976? [11:25] Brad believes there are no HOA organizations as big or as successful as MHI. [12:00] You can lower someone's risk from a level 7 to a level 5 just by equipping them with good information. [12:40] What types of hazards will HazardCall alert tenants with? [17:25] What other benefits can HazardCall offer tenants and park owners? [24:40] What's the best way for a park owner to incorporate a product like this into their park? [30:55] How many alerts has HazardCall sent out to this day? [34:00] By telling people in one simple text to 'drip your pipes', for example, you've already saved yourself huge insurance deductibles when it gets cold at night. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Hazardcallcommunity.com Weathercallservices.com Brad on LinkedIn Email: Bradh@Hazardcall.com Call Brad: 256-682-9217
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 104 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson with the Park Street Partners. Kurt Kelly joins us once again to cover all of your insurance questions. He dives into what mobile homeowners need to know about insurance, how to properly cover and insure your staff, and what to do when you have damages. Key Takeaways: [3:00] What do listeners need to know about insuring their rental home? [8:55] Unfortunately, there is no perfect decision when it comes to homeowner insurance options. [9:20] Do park owners have to pay more money for insurance on older homes than new homes? [12:45] Does a park owner’s claim history have an impact on their insurance rates? [18:45] What do park owners need to know about workers comp insurance? [23:55] Is it possible to get workers comp on an independent contractor? [26:25] How do you make sure you’re not discriminating against your tenants? [33:15] In the state of Oklahoma, you do not want to lie about your dog being an emotional support animal. They are taking serious measures to stop people from faking it. [38:25] Have more insurance-related questions? Feel free to reach out to Kurt! Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Episode 33 with Kurt Kelly Mobileagency.com Email: Kurt@mobileagency.com Call: 800-458-4320.
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 104 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson with the Park Street Partners. Kurt Kelly joins us once again to cover all of your insurance questions. He dives into what mobile homeowners need to know about insurance, how to properly cover and insure your staff, and what to do when you have damages. Key Takeaways: [3:00] What do listeners need to know about insuring their rental home? [8:55] Unfortunately, there is no perfect decision when it comes to homeowner insurance options. [9:20] Do park owners have to pay more money for insurance on older homes than new homes? [12:45] Does a park owner’s claim history have an impact on their insurance rates? [18:45] What do park owners need to know about workers comp insurance? [23:55] Is it possible to get workers comp on an independent contractor? [26:25] How do you make sure you’re not discriminating against your tenants? [33:15] In the state of Oklahoma, you do not want to lie about your dog being an emotional support animal. They are taking serious measures to stop people from faking it. [38:25] Have more insurance-related questions? Feel free to reach out to Kurt! Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Episode 33 with Kurt Kelly Mobileagency.com Email: Kurt@mobileagency.com Call: 800-458-4320.
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 103 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Brian Trippe purchased his first mobile home park three years ago by chance phone call from the owner. Already a wholesale investor, Brian was curious to learn more about mobile homes and see what they could offer. On today’s show, Brian shares how he bought the park, cares for his tenants, and why he decided to sell it once he was done with the rehab process. Key Takeaways: [2:45] What did Brian do before he got into mobile home parks? [4:35] Brian shares the story of his first real estate purchase. [8:00] Brian wasn’t really looking for a mobile home park when he bought his first one. [11:25] What’s was the park like when Brian first bought it? [13:50] The newest homes in the park were in the early ’80s. [22:15] How does Brian manage his park? [26:55] What advice does Brian have for himself on mistakes that could have been avoided? [31:55] Brian has not spent a dime of his own money rehabbing this park. [32:40] What’s next for Brian? [36:10] Brian has a new book out called, Nothing’s For Sale. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Alareia on Facebook Nothingsforsale.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 103 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Brian Trippe purchased his first mobile home park three years ago by chance phone call from the owner. Already a wholesale investor, Brian was curious to learn more about mobile homes and see what they could offer. On today’s show, Brian shares how he bought the park, cares for his tenants, and why he decided to sell it once he was done with the rehab process. Key Takeaways: [2:45] What did Brian do before he got into mobile home parks? [4:35] Brian shares the story of his first real estate purchase. [8:00] Brian wasn’t really looking for a mobile home park when he bought his first one. [11:25] What’s was the park like when Brian first bought it? [13:50] The newest homes in the park were in the early ’80s. [22:15] How does Brian manage his park? [26:55] What advice does Brian have for himself on mistakes that could have been avoided? [31:55] Brian has not spent a dime of his own money rehabbing this park. [32:40] What’s next for Brian? [36:10] Brian has a new book out called, Nothing’s For Sale. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Alareia on Facebook Nothingsforsale.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 102 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Sonya Salamon and Katherine MacTavish have been researching mobile home parks and the tenants in them, and now have published a book. On today’s show, Sonya and Katherine share their findings with the audience and discuss everything from quality of life, finances, tenant aspirations, and more. Key Takeaways: [3:20] How did Sonya and Katherine get into mobile home park research? [5:05] How did Sonya and Katherine find people to interview and study? [10:55] What were some of the key findings when researching the three mobile home parks in geographically and ethnically different areas? [14:45] How does growing up in a mobile home park impact the wellbeing and career choices of the children living there? [19:45] In what ways did the children flourish? [21:35] How did Sonya and Katherine find these three park owners? [24:55] Sonya and Katherine studied how each of the tenants in these mobile home parks managed their finances. What did they discover? [27:05] Why did these folks decide to live in a mobile home park? [31:15] Are mobile home tenants unhappy that they’re living in a mobile home? [32:40] Can people really form a community when somebody else is forming all the rules? [41:25] Mobile homes are a private solution to a really pressing public house need. [43:05] Sonya and Katherine offer their final thoughts. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Todd Foster’s Podcast Interview Sonyasalamon.com Email Katherine: Katherine.MacTavish@oregonstate.edu
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 102 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Sonya Salamon and Katherine MacTavish have been researching mobile home parks and the tenants in them, and now have published a book. On today’s show, Sonya and Katherine share their findings with the audience and discuss everything from quality of life, finances, tenant aspirations, and more. Key Takeaways: [3:20] How did Sonya and Katherine get into mobile home park research? [5:05] How did Sonya and Katherine find people to interview and study? [10:55] What were some of the key findings when researching the three mobile home parks in geographically and ethnically different areas? [14:45] How does growing up in a mobile home park impact the wellbeing and career choices of the children living there? [19:45] In what ways did the children flourish? [21:35] How did Sonya and Katherine find these three park owners? [24:55] Sonya and Katherine studied how each of the tenants in these mobile home parks managed their finances. What did they discover? [27:05] Why did these folks decide to live in a mobile home park? [31:15] Are mobile home tenants unhappy that they’re living in a mobile home? [32:40] Can people really form a community when somebody else is forming all the rules? [41:25] Mobile homes are a private solution to a really pressing public house need. [43:05] Sonya and Katherine offer their final thoughts. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Todd Foster’s Podcast Interview Sonyasalamon.com Email Katherine: Katherine.MacTavish@oregonstate.edu
My guest in this episode is Jefferson Lilly. Jefferson is a self-made millionaire, mobile home park investment expert, educator, and industry consultant. Park Street Partners owns 17 MHPs coast-to-coast totaling over $32mm in value. Prior to co-founding Park Street Partners in 2013, Mr. Lilly spent seven years investing his own capital acquiring and operating mobile home parks. Before becoming an investor full-time, Jefferson spent nine years in sales leadership roles with several venture-backed startups in Silicon Valley. Jefferson has been featured in The New York Times, Bloomberg Magazine, and on the ‘Real Money’ television show. He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business. Jefferson started and hosts the Mobile Home Park Investors Podcast. He also founded the Mobile Home Park Investors group on LinkedIn - the world’s largest professional networking group focussed on MHPs (3,500+ members).
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 101 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. On today’s podcast, Jefferson shares his first-hand experience at buying an ‘easy-to-fill’ mobile home park. It was his second mobile home park that he had bought and he ended up walking away with a lot of wise experience from that purchase. Key Takeaways: [1:20] Jefferson shares a story of what happened in the due diligence process when he bought his second mobile home park. [1:45] How do you fill your park with new tenants? [4:25] By not running a background check, the previous owner was allowing a very rough tenant base. [6:00] Beware of the very easy-to-fill mobile home park. It could be a warning sign. [7:45] Make sure the previous owner is running a background check on their tenants and accepting safety deposits. [8:35] When Jefferson bought that park, it was 100% full. However, it had a lot of unsavory types in it and about 50% of the tenants turned over during the first 12 months. [10:30] As part of your due diligence, always ask for at least a year’s worth of bank statements. [11:05] You want tenants with skin in the game. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 101 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. On today’s podcast, Jefferson shares his first-hand experience at buying an ‘easy-to-fill’ mobile home park. It was his second mobile home park that he had bought and he ended up walking away with a lot of wise experience from that purchase. Key Takeaways: [1:20] Jefferson shares a story of what happened in the due diligence process when he bought his second mobile home park. [1:45] How do you fill your park with new tenants? [4:25] By not running a background check, the previous owner was allowing a very rough tenant base. [6:00] Beware of the very easy-to-fill mobile home park. It could be a warning sign. [7:45] Make sure the previous owner is running a background check on their tenants and accepting safety deposits. [8:35] When Jefferson bought that park, it was 100% full. However, it had a lot of unsavory types in it and about 50% of the tenants turned over during the first 12 months. [10:30] As part of your due diligence, always ask for at least a year’s worth of bank statements. [11:05] You want tenants with skin in the game. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 100 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson is celebrating the big 100th episode by giving you a quick and helpful guide to the last 99 episodes. He lists some of his top favorite/most useful podcasts for someone who might be in the beginning stages of buying a park all the way to someone getting ready to sell their park. Key Takeaways: [1:30] Thank you for listening! This is episode 100! Let’s do a quick recap of the past 0-99 episodes for those first-time listeners out there. [3:15] If you’re an investor or considering on investing in mobile home parks, listen to episode 1-3, 19-20, 74-76. [5:25] Want to buy your own mobile home park? Listen to the first 20 episodes, then 23-24, 90. [7:25] When you’re about to scale up and have to manage employees, listen to episode 56, 73, 79-80, 93-94, 97-99. [12:15] If you’re a park owner and thinking about selling, listen to episodes 52-53, 66-67. [14:00] Know of a mobile home park for sale? Give Jefferson a call and listen to episode 14. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 100 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson is celebrating the big 100th episode by giving you a quick and helpful guide to the last 99 episodes. He lists some of his top favorite/most useful podcasts for someone who might be in the beginning stages of buying a park all the way to someone getting ready to sell their park. Key Takeaways: [1:30] Thank you for listening! This is episode 100! Let’s do a quick recap of the past 0-99 episodes for those first-time listeners out there. [3:15] If you’re an investor or considering on investing in mobile home parks, listen to episode 1-3, 19-20, 74-76. [5:25] Want to buy your own mobile home park? Listen to the first 20 episodes, then 23-24, 90. [7:25] When you’re about to scale up and have to manage employees, listen to episode 56, 73, 79-80, 93-94, 97-99. [12:15] If you’re a park owner and thinking about selling, listen to episodes 52-53, 66-67. [14:00] Know of a mobile home park for sale? Give Jefferson a call and listen to episode 14. Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com
Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Welcome to Episode 99 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Spencer Roane is the Founder of SECO, a mobile home park conference that caters to expert mobile home parks owners and novices. This is interview part two so be sure to listen to last week’s show (if you haven’t already) to find out more about Spencer. Today, Spencer shares details about his SECO (South East Community Owners) Conference and why he is starting a community chattel finance program. Key Takeaways: [1:25] Why did Spencer start SECO? [3:25] How many SECO Conferences has Spender held so far? [5:50] Spencer has already sold out all the exhibit space for 2018. [6:45] How does Spencer manage the conferences? [7:55] Spencer shares how he markets the conference. [10:35] Spencer is working on a community chattel finance program. What is it about? [16:40] When does this program take place? Mentioned in This Episode: Park Street Partners Investment Opportunities Park Street Partners Business Resources LinkedIn: Mobile Home Park Investors Group Send deals to Deals@parkstreetpartners.com Secoconference.com Email Spencer: SpencerRoane@SECOConference.com Call Spencer: 678-428-0212 Rentmanager.com
Jefferson Lilly is a self-made millionaire, mobile home park investment expert, educator, and industry consultant. Park Street Partners owns 17 mobile home parks coast-to-coast totaling over $32mm in value. Prior to co-founding Park Street Partners in 2013, Mr. Lilly spent seven years investing his own capital acquiring and operating mobile home parks. Before becoming an investor full-time, Jefferson spent nine years in sales leadership roles with several venture-backed startups in Silicon Valley. Jefferson has been featured in The New York Times, Bloomberg Magazine, and on the ‘Real Money' television show. He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business. Jefferson started and hosts the Mobile Home Park Investors Podcast with over 10,000+ D/L per month. He also founded the Mobile Home Park Investors group on LinkedIn - the worlds largest professional networking group focused on MHPs (3,500+ members) During this show we dive into… Why the mobile home park niche is better than any other type of real estate investment How fast mobile home parks are diminishing now About how many parks there re in existence around the country Why a lack of affordable housing makes mobile home parks so appealing Why now is such a great time to be a mobile home park investor Whether people usually start with buying single units or actual parks The most effective ways to find parks for sale How to know if the park is worth what it is being sold for The biggest mistakes people make when investing in mobile home parks How to effectively manage parks all around the country The best ways to get financing for investing in mobile homes The types of loans do Fannie Mae and Freddie Mac provide How to use self-directed IRAs being for real estate investing How to use podcasting to raise money for real estate investing How you can retire in 10 years by getting started today buying mobile home park How Park Street Partners helps people get into this space
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