MTI089: Investing in Mobile Home Parks with Jefferson Lilly

Many investors don’t think about investing in mobile home parks.

Jefferson Lilly says most investors never considered buying into this asset class or think negatively about mobile home parks.

Consider this:

  • No new mobile home parks are being developed
  • About 1 percent of existing mobile home parks are being torn down
  • Demand for mobile homes is rising

This means demand in park ownership is low while inventory on the market is shrinking.

Also, the cost of maintaining the land is less expensive than maintaining a rental property. Jefferson Lilly explains how an On-site Manager is in charge of taking care of the properties in their current state and an Asset Manager works to improve the site overall – such as roads and drainage, etc.

You can learn more about mobile home park investing at Jefferson Lilly’s website http://ParkStreetPartners.net

Today’s Panelists

Miranda Marquit | Planting Money Seeds
Doug Goldstein | Rich as a King
Joe Saul-Sehy | Stacking Benjamins
Linda P. Jones | Be Wealthy and Smart

For a quick bio of each of our show participants, head on over to our panelists page.

 

Send us your questions for a future Listener Letters episode