369: Escaping the Day-to-Day Grind to Work ON Your Business with Jefferson Lilly

Episode • Feb 13, 2020 • 1h 15m

Want to step out of your business and finally gain the freedom to think more strategically? Let Jefferson Lilly show you how!

Jefferson is a mobile home park investor, who went from sleeping on an air mattress on-site at his mobile parks to running a lean team and focusing his energy on raising millions from investors.

No matter what stage of your career you’re in or what your preferred strategy is, you’ll get a ton of value out of this high-level discussion about building a “2.0” business that serves you AND your team.

You’ll learn how Jefferson went from acquiring parks “deal by deal” to starting a fund, how he overcame fear to hire several six-figure employees, and how he incentivizes his team to maximize occupancy.

Also, Jefferson breaks down the criteria he uses to narrow down potential deals (including proximity to a Walmart)—AND reveals the four main ways he and his team reach out to mom-and-pop park owners.

This is an awesome show, whether you’re interested in mobile homes or not. So check it out, and subscribe to the BiggerPockets Real Estate Podcast so you won’t miss the next one!

In This Episode We Cover:

The “unfair advantages” of mobile home park investing
4 main methods to find off-market deals
How his team uses brokers to source deals
Hiring 6-figure employees
How Jefferson has raised more than $30M from 200 investors
How he incentivizes his team based on occupancy
2 factors that drive profitability in the mobile home park business
The difference between a “2.0” business vs. a “1.0” business
Jefferson’s biggest career regret
Why he aims to hire “coaches” rather than “cheerleaders”
How and why he started a fund rather than individually syndicating deals
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show369

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