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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: January, 2018
Jan 25, 2018

Welcome to Episode 90 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson sits down with Daniel Din in San Francisco to discuss what park owners need to know about Freddie Mac’s lending opportunities. Daniel is the perfect guest for this week’s show because he has been with Freddie Mac since 2007 and oversaw the development of the manufactured housing lending department in 2014.

 

Key Takeaways:

[2:00] What’s Daniel’s background and what did he do before he joined Freddie Mac?

[2:45] Daniel shares a little bit of the history of Freddie and how they got into lending.

[6:00] How can mobile park owners borrow money from Freddie?

[7:10] What’s the difference between Fannie Mae and Freddie’s business model?

[9:45] How long does it take the average park owner to get approved?

[11:35] What’s the smallest loan will Freddie make?

[17:45] Daniel shares the history behind opening a manufactured housing lending department in 2014.

[24:50] Does Freddie make the distinction between ‘true’ rentals vs. homes on a rent-to-own agreement?

[26:45] Is it true that mobile home parks have the lowest default rate of any class?

[29:15] Daniel explains a bit more what Freddie’s ‘Duty to Service’ initiative is about.

[36:00] What do park owners need to know about Freddie’s supplemental program?

[39:40] Freddie’s balance sheet is around $250 Billion. How does Freddie decide what to keep on their balance sheet vs. what to sell?

[43:15] Will there be any regulations coming down the pike in 2018?

 

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.com
Freddiemac.com

Daniel on LinkedIn

 

Jan 25, 2018

Welcome to Episode 90 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson sits down with Daniel Din in San Francisco to discuss what park owners need to know about Freddie Mac’s lending opportunities. Daniel is the perfect guest for this week’s show because he has been with Freddie Mac since 2007 and oversaw the development of the manufactured housing lending department in 2014.

 

Key Takeaways:

[2:00] What’s Daniel’s background and what did he do before he joined Freddie Mac?

[2:45] Daniel shares a little bit of the history of Freddie and how they got into lending.

[6:00] How can mobile park owners borrow money from Freddie?

[7:10] What’s the difference between Fannie Mae and Freddie’s business model?

[9:45] How long does it take the average park owner to get approved?

[11:35] What’s the smallest loan will Freddie make?

[17:45] Daniel shares the history behind opening a manufactured housing lending department in 2014.

[24:50] Does Freddie make the distinction between ‘true’ rentals vs. homes on a rent-to-own agreement?

[26:45] Is it true that mobile home parks have the lowest default rate of any class?

[29:15] Daniel explains a bit more what Freddie’s ‘Duty to Service’ initiative is about.

[36:00] What do park owners need to know about Freddie’s supplemental program?

[39:40] Freddie’s balance sheet is around $250 Billion. How does Freddie decide what to keep on their balance sheet vs. what to sell?

[43:15] Will there be any regulations coming down the pike in 2018?

 

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.com
Freddiemac.com

Daniel on LinkedIn

 

Jan 4, 2018

Welcome to Episode 89 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. On this week’s show, Jefferson welcomes Charles Becker and Brenda Garcia-Lemus from Duke University. They have both done extensive research and have collected data on manufactured housing rents and home values. They dive in and discuss what their data can tell us about both the west and east coast markets and give us valuable insights on how we can plan for the future.

Key Takeaways:

[1:30] Charles has appeared on the show before, so Brenda gives a quick introduction about herself!

[3:00] In person, Charles and Brenda have some slides showcasing some data. They discuss what the data means for those who are just listening to the show!

[5:10] How did Charles and Brenda capture the data of how much rents vary by each state?

[6:35] In Texas, they have homes that average around 17 years old and California, for example, has homes that are in the 32-year range. This indicates Texas is building new homes and California is not.

[8:20] Did Charles and Brenda cross-reference and compare their data to see if there was any correlation between apartment rents and manufactured housing rents?

[12:55] Half of the value is in land and the other half is in structure.

[13:45] Charles and Brenda used apartment prices to compare the data they received from mobile home parks.

[18:35] Charles and Brenda foresee more and more people renting manufactured homes instead of buying. When do they think that trend will change?

[25:35] How will inflation affect mobile home park owners and renters?

[28:35] Charles and Brenda were able to get data down to the county in North Carolina. What did they find on the county level?

[34:15] What else can we learn from the data Charles and Brenda have curated?

[40:00] Want to help Charles and Brenda with their research? Feel free to email them!

 

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.com

Duke.edu

Email Charles: CBecker@Duke.Edu

Email Brenda: BG83@Duke.Edu

Brenda on LinkedIn

 

 

Jan 4, 2018

Welcome to Episode 89 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. On this week’s show, Jefferson welcomes Charles Becker and Brenda Garcia-Lemus from Duke University. They have both done extensive research and have collected data on manufactured housing rents and home values. They dive in and discuss what their data can tell us about both the west and east coast markets and give us valuable insights on how we can plan for the future.

Key Takeaways:

[1:30] Charles has appeared on the show before, so Brenda gives a quick introduction about herself!

[3:00] In person, Charles and Brenda have some slides showcasing some data. They discuss what the data means for those who are just listening to the show!

[5:10] How did Charles and Brenda capture the data of how much rents vary by each state?

[6:35] In Texas, they have homes that average around 17 years old and California, for example, has homes that are in the 32-year range. This indicates Texas is building new homes and California is not.

[8:20] Did Charles and Brenda cross-reference and compare their data to see if there was any correlation between apartment rents and manufactured housing rents?

[12:55] Half of the value is in land and the other half is in structure.

[13:45] Charles and Brenda used apartment prices to compare the data they received from mobile home parks.

[18:35] Charles and Brenda foresee more and more people renting manufactured homes instead of buying. When do they think that trend will change?

[25:35] How will inflation affect mobile home park owners and renters?

[28:35] Charles and Brenda were able to get data down to the county in North Carolina. What did they find on the county level?

[34:15] What else can we learn from the data Charles and Brenda have curated?

[40:00] Want to help Charles and Brenda with their research? Feel free to email them!

 

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.com

Duke.edu

Email Charles: CBecker@Duke.Edu

Email Brenda: BG83@Duke.Edu

Brenda on LinkedIn

 

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