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 side hustle: 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.
Free Bonus: Download Jefferson’s Top Mobile Home Park Investment Tips
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Learn:
- Why mobile home park investing is one of the more profitable real estate niches.
- Why it’s the only real estate niche that’s shrinking in size but still yields good ROI.
- The criteria he uses to find good park investments.
- How he finances his 6-figure park purchases.
- How he staffs and maintains his parks.
- The potential risks to investing in mobile home parks.
- Lessons Jefferson has learned over the decade plus he’s been buying mobile home parks.
- Jefferson’s #1 tip for Side Hustle Nation.
Links:
- Park Street Partners
- Mobile Home Investors Podcast (inactive)
- LoopNet
Download the Free PDF "Highlight Reel" from this Episode
With all of my guest's top tips and resources included.
Enter your email to access it now:
Success! You just unlocked the highlight reel from this episode ... AND over 200 other subscriber-only bonuses. Check your email for details :)
(If it doesn't show up in 5-10 minutes, check spam/promotions.)
You'll also receive my best side hustle tips and weekly-ish newsletter. Opt-out anytime.
Loved this episode! It’s not something I’m likely to do, but it was definitely interesting to learn about something new. Thanks for what you do.
Thanks for tuning in Ivy!
Great episode. Nick, Thanks for drawing Jefferson and getting some great content!