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
Welcome to episode 42 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson Lilly invites Robert Nelson on to the show to discuss the first mobile home park Robert found, and does an analysis on the property. Jefferson walks Robert through the process, and the math, to help him come to the conclusion whether the mobile park home he found is worth the hefty price tag.
Key Takeaways:
[2:55] How did Robert first get involved with mobile home parks?
[7:10] How did Robert find his first park?
[8:05] Robert thought the park he found was a good park, but then he listened to episode 14 of this podcast show!
[12:55] The park Robert is looking at currently has five occupied trailers, four unoccupied trailers, and three empty pads.
[15:25] One of the unoccupied trailers has been trashed, and the owners are using it for supplies.
[17:30] Jefferson is going to assume those 5 occupied trailers do not need extra work.
[18:35] If Robert were to buy this property, he should have an extra $20,000 prepared to invest in remodeling the four empty trailers.
[23:40] Jefferson believes the price for this property is worth $215,000.
[24:45] Don’t be afraid to make offers that make sense to you. Sellers might get upset, but hey!
[26:00] Let’s look this property up on yp.com
[27:50] Join us next week for part two of this show!
Mentioned in This Episode:
parkstreetpartners.com
mobilehomeparkinvestors.net
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
Park Street Partners www.parkstreetpartners.com
Mobile Home Park Investors www.mobilehomeparkinvestors.com
Welcome to episode 41 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. This week’s episode covers Jefferson and Brad’s deal flow, along with the properties that they have in their fund right now. They discuss a little bit about the inner workings of each mobile home park, and share their expert advice to you!
Key Takeaways:
[1:00] Jefferson and Brad give an update on how their portfolio is doing right now.
[1:40] The first mobile home park property is located in Hillsborough, North Carolina.
[6:05] The second mobile home park property is in Port Huron, Michigan.
[8:55] Brad discusses the deals that are currently in progress.
[11:55] Next up, Jefferson discusses the property he acquired in the upper midwest.
[17:50] Brad talks about a mobile home park located in a fairly large metropolitan statistical area.
[20:15] Whenever you see greater than $100,000 average house prices, that's a good sign that a trailer park will do well in the area.
[22:10] Park Street Partners’ deal flow this year is better than in previous years.
[22:15] Is it too late to enter the market? No!
Mentioned in This Episode:
www.parkstreetpartners.com
www.mobilehomeparkinvestors.net
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
Welcome to episode 40 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson records this quick 9-minute episode to discuss in detail the things you can do in 30 seconds or less, to find out whether you’ve got a good mobile home park deal on your hand. As you look at more deal flow, you can’t afford to waste time on bad properties!
Key Takeaways:
[1:40] As you start seeing more deal flow, it’s very important to start separating wheat from chaff.
[2:25] Spend the first 15 seconds just seeing if the property is listed on the Yellow Pages website.
[3:15] Half of the deals that both Jefferson and Brad make are not listed in the Yellow Pages.
[3:25] This is a good thing. It means the owners are mom-and-pop places.
[4:10] You have a huge advantage if the owners aren’t advertising.
[5:45] Jefferson guesses that you can increase your cashflow by 10-20%, just because the owners haven’t reached these key advertising areas.
[6:05] Once done, take your next 15 seconds and head on over to Google Maps.
[6:25] You want to be located within 5 miles of a Super Walmart.
[7:55] If a Walmart is not in your area, it indicates the town isn’t doing that well economically.
[8:10] Jefferson and his team are actively raising money right now! Go to the website to find out more!
Mentioned in This Episode:
mobilehomeparkinvestors.net
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net