262: $600,000 in Gross Rents from Mobile Home Parks with Jefferson Lilly

Episode • Jan 18, 2018 • 1h 48m

Mobile Home Parks can be one of the most profitable business models around, but learning to scale without losing all your time can be tough. That’s the story on today’s episode of the BiggerPockets Podcast, where we sit down with Jefferson Lilly to talk about how he’s acquired 2,600+ “pads” in the past few years and the lessons he’s learned in scaling. We also discuss the ins and outs of raising private money through a “fund,” which will both fascinate and educate you, so don’t miss a moment of it. Whether you want to buy mobile home parks or not, this is one show where the lessons will stick with you for life!

In This Episode We Cover:

Brandon’s mobile home park
Reasons why you should consider buying a mobile home park
The legality surrounding mobile home parks
How Jefferson came to own about 2,300 pads
What you should know about rent-to-own homes
How Jefferson markets their properties
Methods of payment for these rentals
A discussion on RVs vs. mobile homes
Jefferson’s thoughts on tiny houses
Getting to a “Mobile Home Park 2.0”
The 3 key hires for mobile home parks
What managing these mobile parks look like
Floods and other concerns when choosing a mobile home park
How to fund these days
How to find parks today
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Investing with Low and No Money Down by Brandon Turner
Never Split the Difference by Chris Voss
Am I Being Too Subtle? by Sam Zell
The Snowball by Alice Schroeder

Tweetable Topics:

“Don’t kick anybody out of your deal. Just scale everybody back.” (Tweet This!)

Connect with Jefferson

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