Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
About This Show
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.
Most Recent Episode
EP056: Tales From the Road: Hiring A Manager For Our Newest Park
4 days ago
Welcome to Episode 56 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. As Brad is off this week, Jefferson offers a case study on his recent park manager hire. This is a complementary show to Episode 45: How to Hire the Right Manager, which you can listen to on iTunes. Jefferson discusses the ins and outs of how he found his most recent manager for his new park. Key Takeaways: [1:30] Jefferson and Brad recently made an acquisition in Florida. The park came with the manager, and although the guys usually keep the manager, this one unfortunately did not fit the bill. [4:15] In fact, some of the manager’s billing was a bit of a red flag. [6:45] The manager was also very unprofessional and sent some nasty emails. [8:40] Jefferson sent out a flyer notifying the residents in their 80 space park that they were hiring, but only 5 responded to it, and only 1 of them seemed qualified. [9:40] The ad Jefferson placed in Craigslist pulled around 40 applicants. [11:05] By this point, Jefferson already knew he was not going to be working with the current manager. [13:20] Former park owners will try to encourage you to hire their manager, because of course, they often think very highly of them. Jefferson recommends that you cut through the noise and do what you think is best. [19:45] Jefferson honestly has no idea what the manager was doing. She was never around! [23:20] Jefferson has hired a new park manager for $1200 a month. Mentioned in This Episode: Park Street Partners Mobile Home Park Investors Investment Opportunities Park Street Partners Business Resources