When you think of mobile homes, the first word that comes to mind is probably not profit, but that’s exactly how Jefferson Lilly looks at the world of trailer parks and mobile homes. With years of experience, Jefferson has learned how to spot smart, relatively low-risk investment opportunities across the nation that don’t require tens of thousands of dollars to get started. Learn more in today’s episode.
What We’re Chatting About This Week
As a big fan of Trailer Park Boys, I was excited to learn about the real business of trailer parks from an experienced expert. Jefferson Lilly fits that role to a T. In this week’s episode, we learn how you can invest in a trailer park starting at around $5,000. Jefferson goes on to share his best tips for exactly how to invest, which means avoiding the costly and frustrating aspects of owning the physical units.
Instead, Jefferson suggests investing in the lot where the trailer lives. This fixed asset can generate rent just like a rental apartment or home, but without the requirements of maintenance on the home. In some cases, you may even be able to get a trailer for free if you buy the lot it’s sitting on. Doing this can give you a fix and flip education and an opportunity to turn a relatively small investment into a long-term cash flow and profit.
This Week’s Sponsor
This week features Personal Capital, which I have personally used since October 2012. Shortly after signing up, I looked at my portfolio and investment fees in the free portfolio analyzer and found I was overpaying on my fees! I made a few changes based on what I learned in my Personal Capital dashboard to save $300 per year. So far, that is worth nearly $1,500 not including investment gains. Did I mention it’s free? Give it a try today.
This Week’s Guest
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. 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. 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.
- Park Street Partners
- Park Street Partners Twitter
- Park Street Partners Facebook
- Mobile Home Park Podcast
- Mobile Home Park Stitcher
- Mobile Home Park Investors
- Mobile Home Park Investors LinkedIn
Other Resources Mentioned
This post was originally published on August 29, 2017 and updated on August 27, 2019.