“I tried to figure what Warren Buffet would do given my situation… then I started stumbling upon mobile home parks”
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!
Listen to ILAB 98 on iTunes here or subscribe on your favorite podcast app.
ILAB 98 Show Notes
Where we are:
Johnny – Ukraine
Sam – Barcelona
ArtofFX – start with just a $10,000 account (reduced from $25,000)
Fundrise – start with only $1,000 into their REIT funds (non-accredited investors OK)
Wealthfront – get your first $15,000 managed free
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
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