FBF #554: The TOP 10 mistakes to avoid when investing in Mobile Home Parks – with Jefferson Lilly

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 17 February 2023

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today's Flash Back Friday Episode is from Episode #31, which originally aired on August 04, 2014

Jefferson Lilly is a mobile home park investment expert, educator, and industry consultant who has been featured in the New York Times and Bloomberg Magazine. Prior to co-founding Park Street Partners in 2013, Mr. Lilly spent seven years investing his own capital at Lilly & Company where he acquired and continues to operate mobile home parks in the Midwest, and consults to mobile home park owners in California.

Prior to becoming an investor full-time, Jefferson spent 10 years in sales leadership roles with several venture-backed startup companies in Silicon Valley that were acquired by Openwave Systems and VeriSign. Earlier in his career he held operational roles at Viacom and was a consultant with Bain & Company.

In this episode, Jefferson shares with us the Top 10 mistakes he made when getting started in this business with the hopes that you can learn from his mishaps and avoid these same pitfalls

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Transcript

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0:00.0	Welcome to this week's edition of Flashback Friday.
0:05.0	It's your opportunity to get some good review by listening to episodes from the past that Kevin is handpicked to help you along your investment journey.
0:13.0	If you like to partner with Kevin and join his team at Sunrise Capital Investors, head to Invest with Sunrise.com to learn more.
0:20.0	That's Invest with Sunrise.com. Enjoy the show.
0:26.2	Our guest of honor for this week's show is Mobile Home Park Investor and consultant, Jefferson Lilly. And the title of this two-part series that we did with Jefferson is the top 10 mistakes that he made when starting in the mobile
0:38.2	home park business. And the goal of this show is to educate those who have an interest in
0:44.8	investing in mobile home parks and really arm you with the knowledge needed to avoid these
0:49.8	same cost of mistakes that Jefferson made. And he made a bunch of them. So probably even more than the 10 that we're going to talk about.
0:56.2	And actually, I'm going to fill you guys in a little secret.
0:59.1	I'm not really supposed to say anything, but Jefferson is actually going to give us a little
1:02.2	treat by adding two additional mistakes to the list.
1:05.2	So you'll actually be getting 12 big mistakes instead of 10.
1:08.8	And the interview with Jefferson actually took so long.
1:12.3	I mean, we were covering such great content.
1:14.0	I mean, we were digging really deep into these 12 different mistakes that they ended up going
1:18.4	for about an hour and a half, which is why we turned it into a two-part series.
1:22.3	I know a lot of you guys don't have the attention span to listen to me for an hour and a half
1:25.3	all at one given time.
1:26.6	So I'm breaking it up into two weeks. So this week, you're going to get the first series and then
1:31.4	next Monday morning you'll get the second part of the series. So and in this interview with
1:36.8	Jefferson, you're going to learn the following, at least in the first part of this interview
1:39.4	with Jefferson, you're going to learn the following things. You're going to learn why building a team and surrounding yourself other successful people and your niche is vital to your success. You're going to learn
	...

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