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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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Now displaying: July, 2017
Jul 27, 2017

Welcome to Episode 65 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. As Brad is off this week, Jefferson interviews Gerry DiMarco from Security Mortgage Group. Gerry’s company is a full-service mortgage brokerage firm that specializes specifically in financing mobile home communities. On this week’s show, Gerry goes into depth on what kind of debt you can take out on your mobile home park, and how he helps ease the process between banker and lender.

 

Key Takeaways:

[1:15] Who is Gerry and how did he get involved with mobile home parks?

[5:05] How did Gerry and his father grow the family business?

[6:35] What’s going on in the mobile home park industry when it comes to financing a mobile home?

[10:55] What kind of star rating do you need to qualify for a 3 Max loan from either Fannie Mae or Freddie Mac?

[14:40] How does Gerry search for good financing deals?

[19:00] Gerry and his brother are able to condense a complex transaction’s terms, and turn it into a two-page summary for their lenders, making it easy and concise to understand.

[19:55] Does Gerry go on site to any of the parks he brokers?

[21:55] What kind of financing can park owners expect, based on the state of their park?

[27:35] How do most of Gerry’s clients structure their loans?

 

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.net

Securitymortgagegroup.net

Call Gerry: 585-423-0230

Email Gerry: Gerry@Securitymortgagegroup.net

Jul 20, 2017

Welcome to Episode 64 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. As Brad is off this week, Jefferson interviews Matt Cohen from Gama Sonic Solar Lighting, based out of Atlanta. On today’s show, Matt discusses the benefits of using solar lights vs. traditional lights in your mobile home park. Aside from the obvious reduction in your electricity bill, solar lights also require less maintenance.

 

Key Takeaways:

[1:55] Who is Matt and what does he do for Gama Sonic Solar Lighting?

[4:25] How many solar lights does the average mobile home owner need to successfully light their park?

[6:15] These lights are also automatic! You do not need to rely on the manager to turn them all and off.

[8:50] The batteries need to be replaced roughly every 36 months. Where can you buy the batteries?

[11:20] Jefferson already has these solar lights in two of his mobile home parks.

[15:25] The highest pole you want to use for these lights is a 10ft pole.

[17:35] How much do these solar lights cost?

[20:15] What do the tenants think about these lights?

[22:25] How easy is it to order replacement parts?

[23:55] What’s the best way to install these lights?

 

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.net

Gamasonic.com

Call Matt: 727-688-5030

Email Matt: Matt@Gamasonic.com

Jul 13, 2017

Welcome to Episode 63 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. As Brad is off this week, Jefferson interviews Justin Powell of Streamline Automation Systems. Justin discusses the benefits of using technology and helpful products that make your property maintenance duties go by so much faster.

 

Key Takeaways:

[2:40] How did Justin first get started with Streamline Automation Systems?

[5:55] What kinds of products does Streamline Automation Systems have, and how does he help park owners?

[9:55] The product only runs on iOS right now, but they’re making an Android and Windows version. Coming soon!

[11:35] The cool thing about this product is that your property manager can use it to inspect your property’s structure and make the necessary work orders to get it repaired/cleaned.

[18:40] The great part about is that you don’t have to recreate the wheel. This product is specifically designed for mobile home park owners and their needs.

[20:40] Can tenants log in too and flag certain things for the park manager?

[22:15] Justin shares a quick client case study.

 

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.net

Streamlineas.com

Jul 6, 2017

Welcome to Episode 62 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. This is the second episode to Erik Hanson’s interview. Be sure to the listen to the first part to get a full view of what kinds of things go into an appraisal report. On this episode, Erik discusses how you can increase your property value and get more bang for your buck.

 

Key Takeaways:

[1:15] Erik continues his discussion on what goes into an appraisal report.

[4:25] On the report, there are some things you just have to include in there that the government requires. They don’t mean much to the buyer personally, though. Erik and other appraises call this the ‘Fluff.’

[7:30] There are two terminologies you should be aware of that appraisers use when discussing a park status, but what happens if your park doesn’t fall into these two?

[10:00] What kinds of things can a park owner do to increase their property value?

[11:40] What kind of amenities can you add to increase rent?

[14:30] How does Erik value the amenities?

[17:10] What states are Erik and his team currently active in?

[17:55] How do the park valuations change based on the different locations?

[20:55] Erik shares a quick funny story on an appraisal he did.

[24:30] Erik offers tips on how to find the right appraiser.

 

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.net

MHPappraisal.com

Email Erik: erik@mhpappraisal.com

Call Erik: (608) 279-1164

 

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