Welcome to episode 10 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. This is part 1 of 3 episodes where Jefferson and Brad will discuss what you should do over the first 30 days that you own your park. That is a very key transition period, which will set the tone for your management style with the manger as well as with the tenants. Hence, it’s a highly critical 30 days to get right. If you invest the time, effort, and a little bit of money in getting your first 30 days done correct, then you should have fairly smooth sailing going forward. Today’s episode will cover advice on the park manager, collecting rent, and the telephone!
Key Takeaways:
[1:39] One of the critical issues to address is, what to do with the park manager.
[4:00] Advice on finding a new manager for your mobile home park – Putting up flyers.
[5:55] What to do if you love the manager but they’re not tech-savvy!
[7:48] What if you’re remote & can’t put up flyers on the front doors of mobile homes?
[9:28] Other ways to find mangers – Placing ads in Craigslist or workingcouples.com.
[11:12] Don’t feel panicked if you haven’t found the perfect manager and are about to close.
[11:54] Collecting rent by using rent boxes.
[12:54] Jefferson & Brad are a big fan of onsite rent boxes.
[13:35] The advantages to having a rent box.
[15:11] You want to get the rent in as quickly as possible.
[17:01] Jefferson & Brad recommend having a centralized rent box installed onsite.
[17:25] The telephone is a critical component of the first 30 days.
[17:46] Jefferson explains setting up & working with Grasshopper.
[22:10] Stay tuned for more on what to do in your first 30 days, coming up in episodes 11 & 12.
Mentions:
http://www.parkstreetpartners.com/
http://www.parkstreetpartners.net/real-estate-syndication/
http://www.parkstreetpartners.net/resources/
http://www.mobilehomeparkinvestors.net/
https://www.linkedin.com/groups/131404/profile
http://www.workingcouples.com/
https://www.craigslist.org/about/sites
