Welcome to Episode 114 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson is back with another SECO Trade Show Recap. Find out more about some of the interesting things that were featured in this year’s conference and we hope to see you next year!
Key Takeaways:
[1:00] This week, Jefferson is doing a review of the SECO Conference he just attended last month.
[1:50] The conference first started off with a session on social media marketing that was very interesting and filled with some great resources.
[4:25] The next session was about five key ways to bringing in new homes.
[7:00] There’s really always a risk and that includes even doing nothing.
[8:30] Craigslist tends to attract a lower quality tenant, so it’s best to advertise on Facebook, Zillow, Instagram, and Mhvillage instead.
[12:10] The next session was about internet marketing and the importance of mobile-friendly websites.
[13:35] It is estimated that by 2020, all search will be done by voice.
[15:45] HUD has filed a complaint against Facebook for violating fair housing.
[18:25] Video media still dominates the internet!
[20:15] Credit Human was there and they directly lend to mobile home owners.
[21:10] Next session was about lessons that were learned from new park owners.
[23:55] Have conversations with your tenants! Don’t make improvements that they won’t want.
[25:15] The next talk was about determining the value of your mobile home park.
[27:00] Thinking of selling? Plan a year or two in advance.
[31:05] You should have roughly 10% of the purchase price in cash reserves when you purchase a property.
[32:25] Ozone generators are a great way to remove smells from a house as well as kill bed bugs.
[33:05] Jefferson lists some excellent resources for mobile home financing.
[34:55] Like what you heard? Please rate us on iTunes!
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com