Welcome to Episode 56 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 offers a case study on his recent park manager hire. This is a complementary show to Episode 45: How to Hire the Right Manager, which you can listen to on iTunes. Jefferson discusses the ins and outs of how he found his most recent manager for his new park.
Key Takeaways:
[1:30] Jefferson and Brad recently made an acquisition in Florida. The park came with the manager, and although the guys usually keep the manager, this one unfortunately did not fit the bill.
[4:15] In fact, some of the manager’s billing was a bit of a red flag.
[6:45] The manager was also very unprofessional and sent some nasty emails.
[8:40] Jefferson sent out a flyer notifying the residents in their 80 space park that they were hiring, but only 5 responded to it, and only 1 of them seemed qualified.
[9:40] The ad Jefferson placed in Craigslist pulled around 40 applicants.
[11:05] By this point, Jefferson already knew he was not going to be working with the current manager.
[13:20] Former park owners will try to encourage you to hire their manager, because of course, they often think very highly of them. Jefferson recommends that you cut through the noise and do what you think is best.
[19:45] Jefferson honestly has no idea what the manager was doing. She was never around!
[23:20] Jefferson has hired a new park manager for $1200 a month.
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net