Welcome to episode 43 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. This episode is a continuation of last week’s podcast, where Jefferson walks Robert Nelson through the math and money behind purchasing his first mobile home park. What are some telltale signs that Robert needs to look out for? Find out today!
Key Takeaways:
[1:45] It’s a good thing Robert’s first prospect park is not listed in the yellow pages.
[3:05] Jefferson is now looking up on Google Earth where the nearest Walmart is.
[7:35] Jefferson talks about a red flag he just spotted with the property.
[8:35] When looking at locations, Jefferson tries to find properties where the unemployment in the area is under 7%.
[9:40] In this area, homeownership is about 63%.
[11:35] Lot rents can go to about half of what an average 2-bedroom apartment goes for in the area.
[14:40] What does Jefferson look for in the last 12 months of bank statements?
[17:50] This property is being poorly managed.
[22:50] Jefferson recaps what he would improve upon.
[24:15] Although this property is a bit highly priced, it doesn’t look like it’s a complete disaster, in terms of repairs.
[25:25] What does Jefferson think about seller finance options?
[28:05] Interested in investing with Jefferson and Brad? Feel free to contact them today!
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
Contact Robert: DivergentProperties@Hotmail.com
Call Robert: 972-742-0079