Welcome to episode 39 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Brad is off this week, but this means that Jefferson gets to interview David Protiva. David and two other co-founders, Chuck Meek and Mark Titshaw, have been hosting the ‘Trailer Park Kings’ event every year since 2006. As Jefferson attends this event, he also gets a behind-the-scenes looks at David’s investment strategy, and how he got started in this industry.
Key Takeaways:
[1:50] David explains how these meetups at his house got started.
[2:25] How did David get into mobile home parks?
[3:50] How did David break the news to his girlfriend at the time, now wife, that he owned a couple of mobile home parks?
[5:45] David tries to buy his mobile home parks close to where he’s currently living.
[6:30] David recognizes you can not grow quickly with his strategy. He purchases homes about every 3–4 years.
[6:50] How does David find his parks?
[9:00] What works for David when he’s trying to find mobile home parks in the Greater Atlanta, Georgia area?
[11:15] Over the last couple of years, David has only purchased brand new homes.
[12:10] How does David find new tenants? What does he do in terms of marketing?
[13:15] David has had great success with Mobile Home Village, but he understands not many people do.
[15:20] What mistakes has David made over the years?
[16:45] David talks on how he sets up the loan structure with his banks.
[18:30] David encourages other mobile home park owners to take advantage of seller financing.
Mentioned in This Episode:
www.parkstreetpartners.com
mobilehomeparkinvestors.net
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
Welcome to episode 38 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Brad is off this week, so it’s just your co-host Jefferson! Today, in this quick 12-minute episode, Jefferson goes through the steps he takes -- what a typical diligence trip looks like for him.
Key Takeaways:
[1:00] On today's show, Jefferson will cover what a typical diligence trip looks like for him.
[2:15] Jefferson flew into Detroit, and made it a point to see the property while the sun was still up.
[4:40] Jefferson also didn’t let the manager know he was coming.
[5:20] Before leaving this part of Michigan, Jefferson visited other mobile home parks in the area to do a comparison.
[6:20] Jefferson drove to Dayton, Ohio to visit another property. Again, he didn’t tell the manager he was coming.
[8:40] Jefferson asked one of the tenants what he thought of the manager.
[9:30] It’s important to capture video on all of these properties, so you can remember them at a later time.
[9:55] Jefferson went to Michigan, Ohio, accidentally drove to Kentucky, and then onward to Indiana, before going back home.
[10:45] Only do these types of trips when you have properties under contract.
Mentioned in This Episode:
www.parkstreetpartners.com
mobilehomeparkinvestors.net
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
Welcome to episode 37 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson from Park Street Partners. Jefferson is flying solo as a host today! On November 1st - 3rd, Jefferson attended the Manufactured Housing Institute (MHI) meeting in Chicago, IL, and has some thoughts to share on what he learned. If you weren’t able to attend the meeting, you can get a quick recap of the event right here!
Key Takeaways:
[1:00] Jefferson does a recap of the latest MHI meeting in Chicago.
[1:35] This event is really focused on mobile home park owners.
[2:20] The November 2nd event kicked off with breakfast and an overview of the industry.
[2:55] The event even shared thoughts about the Presidential election.
[5:10] It’s a very mixed year so far, but by the time this podcast publishes, we will all know the Presidential results.
[5:50] In 2007, pre-recession, the average household net worth was $137,000. It’s now down to $82,000.
[7:15] At the event, there was a presentation on some of the worst deals ever.
[11:55] An update on the economy in 2016, and other projections.
[14:15] Who is this event for, and why should you attend next year’s event in April?
Mentioned in This Episode:
Park Street Partners - parkstreetpartners.com
Mobile Home Park Investors - mobilehomeparkinvestors.net
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
Welcome to episode 36 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. It’s just Jefferson on this week’s podcast, as Brad is out of the office. Jefferson does a quick recap of the SECO (Southeast Community Owners Symposium) conference he attended in Atlanta. It’s a three-day conference jammed pack with helpful information for mobile home park owners. If you’re a mobile park owner located in the Southeast, or hoping to become a mobile home park owner, please be sure to check out the details for next year’s conference!
Key Takeaways:
[1:55] John writes in and asks, “How much do you pay your on-site managers?”
[3:45] Jefferson believes there were about 250 people who attended the SECO conference.
[7:00] The first session talked about how to sell homes and what kind of homes you should put in your park.
[10:10] Jefferson discovered the company Renter Text, which will help you qualify your tenants for $195 a month. Jefferson expands a bit more on this.
[12:00] Another service that was mentioned at the conference was called Roof Wrap, which offers a dense rubber ‘wrap’ to put on your leaky mobile home roof.
[14:25] The Manufacturing Housing Association is a great resource for new mobile park owners.
[16:10] When you move into a new mobile home park, make sure you use a licensed bonded mover from your state. It will save you a lot of hassle.
[17:50] Towards the end of the conference, Jefferson attended a panel that discussed what your mobile home park is worth in today’s market.
[19:40] There you go! That was the SECO conference in a nutshell.
Mentioned in This Episode:
Park Street Partners www.parkstreetpartners.com
Mobile Home Park Investors www.mobilehomeparkinvestors.net
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net