258: 20% Cash on Cash in Mobile Home Park Investing? The Real Estate Side Hustle You Probably Hadn’t Considered

The Side Hustle Show

Nick Loper

Entrepreneurship, How To, Education, Business

4.7 • 1.6K Ratings

🗓️ 23 November 2017

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

It's like owning a parking lot, Jefferson Lilly explained. And you can earn 20% cash on cash returns too. That got my attention, though those returns are coming from a surprising real estate niche: mobile home parks. Jefferson Lilly is a mobile home park investment expert, educator, and industry consultant who has been featured in the New York Times, Bloomberg Magazine, and on the ‘Real Money’ television show. Through his company Park Street Partners, they currently own about $50 million worth of mobile home parks coast-to-coast. Jefferson is also the host of the Mobile Home Investors podcast, so it’s fair to say he knows this niche inside and out. The mobile home park niche doesn’t fit the typical real estate guidelines. It’s a shrinking market and offers some interesting and unique investment opportunities if you know where to look. In addition to the shrinking supply, the tenant turnover is lower than other real estate niches, and most tenants own their own homes -- meaning lower maintenance costs. Tune in to hear how Jefferson went from purchasing his first park after receiving 58 "no's" from banks when trying to raise the capital, to forming Park Street Partners and boasting a rapidly growing portfolio with more $50 million invested in mobile home parks. Full Show Notes and PDF Highlight Reel: 20% Cash on Cash in Mobile Home Park Investing? The Real Estate Side Hustle You Probably Hadn’t Considered

Transcript

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0:00.0	Side Hustle Show 258, 20% cash on cash in mobile home parks, this is the real estate
0:06.2	side hustle you probably hadn't considered.
0:11.3	What's up, Nick Loper here. Welcome to the Side Hustle Show because investing in
0:15.7	yourself always has a positive ROI. Happy Thanksgiving if you're tuning in from the
0:19.6	USA and happy Thursday. If you're not, great show for you today on a super niche real estate investing
0:25.9	side hustle, but one that's turned into a full-time business and more for my guest. I'm talking about buying
0:30.6	mobile home parks and the unique advantages of doing so over other forms of real
0:34.8	estate and to school me on the subject is Jefferson Lily from Park Street Partners.com.
0:40.7	This all started as a side hustle for Jefferson, but now he and his firm own and manage dozens of mobile home parks coast to coast worth over $50 million.
0:49.0	It's crazy stuff.
0:50.0	Stick around to hear what makes mobile home parks an attractive investment the exact criteria Jefferson uses when evaluating new deals and his most expensive mistake so far.
1:01.0	Notes and links for this one, plus a free downloadable PDF highlight reel with all of Jefferson's
1:05.4	top tips from this call are at side hustle nation.com slash Jefferson.
1:09.7	As your side hustle grows and takes on a life of its own, there's a tool you're going to want in your toolbox, and that's
1:14.0	Freshbooks.com is the affordable small business accounting solution that's built specifically for
1:19.3	side hustlers and freelancers. I'd like to thank Freshbooks for sponsoring today's show and for helping
1:24.4	helping thousands of entrepreneurs, myself included, get paid.
1:28.0	And as a Side Hustle show listener, they're hooking you up with a 30-day
1:30.4	completely free trial at freshbooks.com slash side hustle. That's fresh
1:34.7	books.com slash side hustle to start your 30-day free trial today. Do you remember
1:39.3	Anton Kraley from dropship lifestyle? He was a guest back on episode 189 of the show which
1:45.8	is actually one of the top 10 most popular episodes of all time. Well today Anton and Dropship
	...

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