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Mobile Home Park Investors with Jefferson Lilly & Brad Johnson

The Mobile Home Park Investors Podcast is the world’s first podcast dedicated to mobile home park investing. This weekly podcast explains the intricacies of this unique real estate niche and details why an investor would want to own a mobile home park, either directly or through a real estate fund. Current manufactured housing community owners will find this podcast helpful in improving their mobile home park’s operations and profitability. The Podcast is hosted by Jefferson Lilly and Brad Johnson who are the co-founders of Park Street Partners, a private real estate investment firm focused on mobile home parks. The company seeks to deliver its investors superior cash flow returns by acquiring and investing in undervalued mobile home parks. Park Street Partners does this while helping to solve America’s affordable housing crisis by improving communities and increasing the supply of housing in the markets it operates in.
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Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
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Feb 21, 2019

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

Feb 21, 2019

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

Feb 7, 2019

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

Feb 7, 2019

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

Jan 10, 2019

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

Dec 25, 2018

Merry Christmas from Park Street Partners

Dec 25, 2018

Merry Christmas from Park Street Partners

Dec 20, 2018

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

Nov 29, 2018

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

Nov 29, 2018

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

Nov 22, 2018

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

Nov 22, 2018

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

Oct 25, 2018

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

Oct 4, 2018

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

Oct 4, 2018

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

Sep 27, 2018

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

Sep 27, 2018

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

Sep 20, 2018

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

Sep 20, 2018

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

 

Sep 13, 2018

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

Sep 13, 2018

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

Sep 6, 2018

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

Sep 6, 2018

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

Jun 28, 2018

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

Jun 21, 2018

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

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