208: Mobile Home Park Investing with Jefferson Lilly

Published: May 6, 2019, 2 p.m.

b"Jefferson is a self-made millionaire, mobile home park investment (MHP) expert, educator, and industry consultant. Park Street Partners owns 17 MHPs coast-to-coast totaling over $32mm in value. Prior to co-founding Park Street Partners\\xa0in 2013, Mr. Lilly spent seven years investing his own capital acquiring and operating mobile home parks. Before becoming an investor full-time, Jefferson spent nine years in sales leadership roles with several venture-backed startups in Silicon Valley.\\xa0
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\\nHe holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business. Jefferson started and hosts the Mobile Home Park Investors Podcast. He also founded the Mobile Home Park Investors group on LinkedIn - the world\\u2019s largest professional networking group focussed on MHPs (3,500+ members).
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\\nKey Points
\\nWhy mobile home parks serve an important purpose in our country
\\nHow to manage properties nationwide using the latest technology
\\nSupply and demand imbalances
\\nThe MHP business model
\\nValue add opportunities in MHPs\\xa0
\\nFun Facts
\\nMobile homes have a VIN number, just as a boat, car, or trailer would
\\n10% of the U.S. lives in mobile homes
\\nLightning Questions
\\nWhat was your biggest hurdle getting started in real estate investing, and how did you overcome it?
\\nJefferson was distracted by his job, personal life, etc. He's now completely focused and disciplined in his search for mobile home parks.\\xa0
\\nDo you have a personal habit that contributes to your success?
\\nJefferson has mad an effort to hire people to help him out in his business. His goal is to make himself irrelevant to his business.\\xa0
\\nDo you have an online resource that you find valuable?
\\nBestplaces.net
\\nWhat book would you recommend to the listeners and why?
\\nThe\\xa0Snowball: Warren Buffett and the Business of Life\\xa0by Alice Schroeder
\\nIf you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?
\\nDo the same things, but sooner.\\xa0
\\nResources
\\nVisit\\xa0Audible\\xa0for a free trial and free audiobook download!
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\\nPark Street Partners
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\\nRent Manager - Property management software
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\\nBestplaces.net"