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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: March, 2018
Mar 22, 2018

Welcome to Episode 96 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Michael Hughes was the head professor overseeing a unique project involving a trailer park home in Boulder, Colorado. Michael and a team of 50 students over the course of 2 years completed this project back in the early 2000s! On today’s show, Michael discusses the ins and outs of how the project came to be and the work involved behind the scenes.

 

Key Takeaways:

[2:25] What is Michael’s background and what did he do before getting involved with mobile homes?

[6:40] How did the Trailer Wrap project get started?

[13:50] What did Michael’s students think about Michael’s crazy trailer idea?

[20:55] How did Michael structure his team for a project like this?

[25:00] Did the end-design change from what was originally on paper?

[30:50] Since the park has now been sold, is Michael aware of any future plans the current owner has with the property?

[36:40] What is Michael up to these days?

 

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
Trailerwrap.net

Email Michael: MHughes@aus.edu

Call Michael: 479-422-0133

 

Mar 15, 2018

Welcome to Episode 95 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest is Mike Johnson. He is a mobile home park owner and early retirement expert. Mike knew that if he wanted to retire early, he needed a passive income. He got creative with how he structured his deals and now owns three parks. Find out more about Mike and his story on this week’s podcast!

 

Key Takeaways:

[2:45] Who is Mike and what did he do before owning his mobile home park?

[6:00] How did Mike find his first mobile home?

[11:50] How does Mike market his property?

[13:15] How does Mike manage the mobile home park?
[16:25] Mike discusses how he handles all the paperwork for the property.

[18:25] What’s it like managing Mike’s other parks?

[21:20] In 15 years of owning parks, Mike has only had to go to court twice. What’s his philosophy on tenants who do not pay?

[25:30] What retirement advice does Mike have for others?

[28:40] There’s only so much you can read. Stop dragging your feet and take action.

 

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
Rich Dad Poor Dad, by Robert Kiyosaki and Sharon Lechter

Making Money with Mobile Homes, by Lonnie Scruggs

Creonline.com

Perpetualsaturday.com

 

Mar 15, 2018

Welcome to Episode 95 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest is Mike Johnson. He is a mobile home park owner and early retirement expert. Mike knew that if he wanted to retire early, he needed a passive income. He got creative with how he structured his deals and now owns three parks. Find out more about Mike and his story on this week’s podcast!

 

Key Takeaways:

[2:45] Who is Mike and what did he do before owning his mobile home park?

[6:00] How did Mike find his first mobile home?

[11:50] How does Mike market his property?

[13:15] How does Mike manage the mobile home park?
[16:25] Mike discusses how he handles all the paperwork for the property.

[18:25] What’s it like managing Mike’s other parks?

[21:20] In 15 years of owning parks, Mike has only had to go to court twice. What’s his philosophy on tenants who do not pay?

[25:30] What retirement advice does Mike have for others?

[28:40] There’s only so much you can read. Stop dragging your feet and take action.

 

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
Rich Dad Poor Dad, by Robert Kiyosaki and Sharon Lechter

Making Money with Mobile Homes, by Lonnie Scruggs

Creonline.com

Perpetualsaturday.com

Mar 8, 2018

Welcome to Episode 94 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest is DJ Pendleton, the Executive Director of the Texas Manufactured Housing Association. DJ discuss the behind-the-scenes of what goes into lobbying for the manufactured housing industry in Texas and what kinds of things the Association pushes for in the legislature.

 

Key Takeaways:

[3:15] What did DJ do prior to getting into the mobile home park industry?

[6:10] What is the main mission or objective of the Texas Manufactured Housing Association?

[9:05] The Texas MHA has both annual and quarterly meetings with the members.

[10:45] What kind of data does the Texas MHA collect among its members?

[12:45] How does DJ prioritize what to lobby against?

[18:15] In what areas is Texas leading the charge in legislature compared to other states?

[22:15] What kind of legislature wins has Texas had over the years?

[29:30] DJ discusses how the Texas MHA was able to get rid of over a million tax liens on mobile homes.

[37:25] What are some of the Texas MHA goals for this year?

[41:05] If a septic field fails, you can not rebuild it in Texas if it’s within 50 ft of a property line. Is this true?

[44:15] What happens to the victims of the hurricane disaster who were living in mobile homes? Will they be able to move back into their homes?

 

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
Texasmha.com

Email DJ: dpendleton@texasmha.com

Mar 8, 2018

Welcome to Episode 94 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest is DJ Pendleton, the Executive Director of the Texas Manufactured Housing Association. DJ discuss the behind-the-scenes of what goes into lobbying for the manufactured housing industry in Texas and what kinds of things the Association pushes for in the legislature.

 

Key Takeaways:

[3:15] What did DJ do prior to getting into the mobile home park industry?

[6:10] What is the main mission or objective of the Texas Manufactured Housing Association?

[9:05] The Texas MHA has both annual and quarterly meetings with the members.

[10:45] What kind of data does the Texas MHA collect among its members?

[12:45] How does DJ prioritize what to lobby against?

[18:15] In what areas is Texas leading the charge in legislature compared to other states?

[22:15] What kind of legislature wins has Texas had over the years?

[29:30] DJ discusses how the Texas MHA was able to get rid of over a million tax liens on mobile homes.

[37:25] What are some of the Texas MHA goals for this year?

[41:05] If a septic field fails, you can not rebuild it in Texas if it’s within 50 ft of a property line. Is this true?

[44:15] What happens to the victims of the hurricane disaster who were living in mobile homes? Will they be able to move back into their homes?

 

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
Texasmha.com

Email DJ: dpendleton@texasmha.com

 

Mar 1, 2018

Welcome to Episode 93 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson sits down with Brandon Turner and Ryan Murdock. They’re both experienced real estate investors, but they recently purchased their first mobile home park in Maine. Brandon and Ryan give details on what their business partnership looks like, their due diligence process, and also share some of the challenges they had to face while owning and renovating this ‘new’ park.

 

Key Takeaways:

[3:00] How did Brandon and Ryan first meet?

[5:10] How did Brandon get into mobile home park investing?

[7:50] What kind of partnership agreement did Brandon and Ryan agree on?

[9:25] To be fair, Brandon and Ryan aren’t technically partners. They both own a piece of the mobile home park, separately.

[14:35] What kind of challenges have Brandon and Ryan experienced on the mobile home property so far?

[20:25] What was the due diligence process like?

[26:45] Did Brandon and Ryan run test ads before buying the park?

[33:35] How does a mobile home park compare to other properties Brandon and Ryan have owned in the past?

[38:50] What kind of financial goals do Brandon and Ryan have with this park?

 

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
Biggerpockets.com

Brandon on Biggerpockets.com

Brandon on Instagram

Ryan on Biggerpockets.com

Ryan on the Biggerpockets.com podcast

 

Mar 1, 2018

Welcome to Episode 93 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson sits down with Brandon Turner and Ryan Murdock. They’re both experienced real estate investors, but they recently purchased their first mobile home park in Maine. Brandon and Ryan give details on what their business partnership looks like, their due diligence process, and also share some of the challenges they had to face while owning and renovating this ‘new’ park.

Key Takeaways:

[3:00] How did Brandon and Ryan first meet?

[5:10] How did Brandon get into mobile home park investing?

[7:50] What kind of partnership agreement did Brandon and Ryan agree on?

[9:25] To be fair, Brandon and Ryan aren’t technically partners. They both own a piece of the mobile home park, separately.

[14:35] What kind of challenges have Brandon and Ryan experienced on the mobile home property so far?

[20:25] What was the due diligence process like?

[26:45] Did Brandon and Ryan run test ads before buying the park?

[33:35] How does a mobile home park compare to other properties Brandon and Ryan have owned in the past?

[38:50] What kind of financial goals do Brandon and Ryan have with this park?

 

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
Biggerpockets.com

Brandon on Biggerpockets.com

Brandon on Instagram

Ryan on Biggerpockets.com

Ryan on the Biggerpockets.com podcast

 

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