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 Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com