Welcome to episode 49 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. March 2nd marks Jefferson’s 10th year in the mobile home park industry! As Brad is off this week, Jefferson reflects on the many, many lessons he’s learned over the years.
Key Takeaways:
[1:00] Jefferson has been in the business for 10 years!
[2:15] Jefferson never would have been able to predict everything that’s happened over the last 10 years. He thought that after he spent a year in this business, he was going to go back to his ‘day job.’
[3:00] How did Jefferson get into this business?
[5:45] Jefferson found his first property on eBay!
[7:45] Jefferson decided to do this full-time, but only for a year. He really wanted to double his assets before going back to his day job.
[8:25] After around the 4 year mark, Jefferson bought his second mobile home park.
[10:50] If you’re still working a day job and looking to invest in your first park, pay for value.
[13:55] If you have to pick between cheap and speed, always pick quality work. Never go for cheap!
[14:15] Jefferson was around 39 years old when he bought his first park. He wishes he got involved sooner!
[16:55] Keep your day job!
[17:05] Take your time in finding your first park. Pay for quality and don’t do anything rash.
[19:45] Jefferson owns around 18 parks, but you don’t have to personally own that many to have a nice side income.
[21:55] Jefferson is excited for the next ten years in this industry!
Mentioned in This Episode:
Park Street Partners www.parkstreetpartners.com
Mobile Home Park Investors www.mobilehomeparkinvestors.com
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
