Mobile Home Park Investors with Jefferson Lilly &amp; Brad Johnson

Send deals to Deals@parkstreetpartners.com

Flytecamp.com

Email: Contact@Flytecamp.com

EP120: Interview: Anna and Justin Scribner from Flyte Camp Tells Us All About Renovating Vintage Trailers Feb 21, 2019

Welcome to Episode 120 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Anna and Justin Scribner restore vintage trailers for a living at Flyte Camp. On today’s show, Anna and Justin share how they got into this line of work, some of their favorite restoration projects, and why they no longer work on trailer models that are beyond the 1964 year mark.

Key Takeaways:

[2:20] What did Anna and Justin do prior to fixing up vintage homes?

[5:45] How do Anna and Justin sell their vintage trailers?

[12:40] How does Anna and Justin find all the parts to their trailers?

[14:30] Justin shares his favorite restoration project to date.

[17:00] How much does a typical renovation cost?

[20:15] Were Spartans really built differently than other trailers back then?

[23:20] Anna and Justin don’t renovate mobile homes past the 1964 year mark. What changed after that era?

[27:40] How doe Anna and Justin find and train their employees?

[33:20] Anna shares some funny client restoration stories.

Mentioned in This Episode:

Send deals to Deals@parkstreetpartners.com

Flytecamp.com

Email: Contact@Flytecamp.com

VIDEO: EP119: Tales from the Road: NCC/MHI Trade Show (National Communities Feb 07, 2019

Welcome to Episode 119 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson is back after a short podcast hiatus with some interesting updates from the latest trade show he attended. Jefferson recommends you attend the NCC trade show to learn about the latest industry news and to network with others. He’s even gotten a deal out of it himself by attending this event!

Key Takeaways:

[1:50] Who should go to the NCC trade show?

[2:50] What economic trends have been affecting the housing industry?

[7:50] Around 100,000 long-haul truck drivers will be put out of business in the next five years due to automation.

[11:45] Interest rates are predicted to keep rising and we might see a mini-recession in the second half of the year.

[15:00] A quick legislative and regulatory update.

[21:45] Roughly 12% of all housing in Georgia is manufactured.

[22:25] Nothing in section 107 of the 2155 law impacts rent-to-own agreements.

[24:15] Invite all your local representatives to come to see your park and your community. Talk to them about what you’re doing.

[24:51] The next talk was about how to properly manage your PR during a crisis.

[30:25] Think about your positive tenants. Who are your allies?

[31:35] Set Google Alerts for your name or for your park.

[35:55] What is the state of the market currently?

[39:25] Biggest challenge currently is hiring talented employees.

[42:50] Preliminary data shows that pad rents increase faster than apartment rents do.

[44:45] Have some questions or thoughts? Feel free to email Jefferson.

Mentioned in This Episode:

Send deals to Deals@parkstreetpartners.com

Meltwater.com

Chatmeter.com

EP119: Tales From The Road: NCC/MHI Trade Show (National Communities Council) Feb 07, 2019

Welcome to Episode 119 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson is back after a short podcast hiatus with some interesting updates from the latest trade show he attended. Jefferson recommends you attend the NCC trade show to learn about the latest industry news and to network with others. He’s even gotten a deal out of it himself by attending this event!

Key Takeaways:

[1:50] Who should go to the NCC trade show?

[2:50] What economic trends have been affecting the housing industry?

[7:50] Around 100,000 long-haul truck drivers will be put out of business in the next five years due to automation.

[11:45] Interest rates are predicted to keep rising and we might see a mini-recession in the second half of the year.

[15:00] A quick legislative and regulatory update.

[21:45] Roughly 12% of all housing in Georgia is manufactured.

[22:25] Nothing in section 107 of the 2155 law impacts rent-to-own agreements.

[24:15] Invite all your local representatives to come to see your park and your community. Talk to them about what you’re doing.

[24:51] The next talk was about how to properly manage your PR during a crisis.

[30:25] Think about your positive tenants. Who are your allies?

[31:35] Set Google Alerts for your name or for your park.

[35:55] What is the state of the market currently?

[39:25] Biggest challenge currently is hiring talented employees.

[42:50] Preliminary data shows that pad rents increase faster than apartment rents do.

[44:45] Have some questions or thoughts? Feel free to email Jefferson.

Mentioned in This Episode:

Send deals to Deals@parkstreetpartners.com

Meltwater.com

Chatmeter.com

EP118: Interview Dennis Smith from Freddie Mac Discusses Duty To Serve Jan 10, 2019

Welcome to Episode 118 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest is Dennis Smith from Freddie Mac. Freddie Mac is considered a GSE (government-sponsored enterprise) and with that comes the Duty to Serve mandate, which focuses on three underserved markets for those who make under 80% of the median income. On today’s show, Dennis explains what the Duty to Serve initiative means and how that affects both mobile home residents and owners.

Key Takeaways:

[2:20] What did Dennis do prior to joining Freddie Mac?

[3:40] Dennis dives into a little bit of the history of Freddie Mac and what GSE (government-sponsored enterprise) is.

[4:15] Where did the ‘Duty to Serve’ mandate/regulation come from?

[6:10] Duty to serve focuses on three underserved markets; Rural housing, affordable housing, and manufactured housing. How is rural housing defined?

[7:40] How is affordable housing defined?

[10:15] What does Duty to Serve mean for the residents of mobile home parks?

[11:25] And, finally, what does Duty to Serve mean for the owners of mobile home parks?

Mentioned in This Episode:

Freddiemac.com/about/duty-to-serve

Send deals to Deals@parkstreetpartners.com

Freddiemac.com

EP117: Merry Christmas from Park Street Partners Dec 25, 2018

Merry Christmas from Park Street Partners

VIDEO: EP117: Merry Christmas from Park Street Partners Dec 25, 2018

Merry Christmas from Park Street Partners

EP116: Interview Al Hesselbart, RV and Mobile Home Historian Dec 20, 2018

Welcome to Episode 116 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest is the first ever historian to appear on the show! Al Hesselbart is an RV and Mobile Home historian and has some very insightful knowledge into the evolution of the camper vehicle and what it has turned into today. Find out more about their history as we go all the way back to the beginning in 1910!

Key Takeaways:

[3:05] What did Al do prior to getting into RVs and mobile homes?

[4:55] What types of RVs does Al own currently?

[10:50] The first automotive units available for camping purposes were identified in 1910.

[11:55] What did the first ‘camping car’ look like?

[15:35] What kind of features did a ‘Tin-Can Tourist’ have?

[18:25] After the war in 1945, what kind of changes were made to the ‘RV’?

[22:05] Americans saw a big shift in RVs in the 1960s and that’s how the mobile home was born!

[23:00] As big capital invests more into RVs and mobile homes, has Al seen any changes in the way they’re structured?

[25:00] What kinds of trends has Al seen in people who own RVs?

Mentioned in This Episode:

Send deals to Deals@parkstreetpartners.com

RVHistoryprograms.com

Email Al: AlHesselbart@Aol.com

Call Al: 574-361-7061

VIDEO: EP115: Interview Denny Stone of So Cal Vintage Trailer Nov 29, 2018

Welcome to Episode 115 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Denny Stone is based out of San Diego, California and is the owner of So Cal Vintage Trailer, which restores vintage trailers to running and functional condition. Denny shares his restoration process, what he likes about these vintage trailers and the types of people who are most attracted to these trailers.

Key Takeaways:

[1:30] What did Denny do before he got into vintage RVs?

[2:55] How does Denny find his trailers?

[5:35] How long does it typically take to renovate a trailer?

[7:50] How does Denny find the right parts for the vintage trailers?

[10:10] Denny shares how he finds his talent and what the process looks like.

[15:20] What makes a Spartan trailer different than the ones available today?

[19:10] What other brands of trailers does Denny work on?

[20:25] How much does the average restoration cost?

[23:25] What kinds of modern upgrades does Denny add to these trailers?

[25:45] Are there some aspects of the trailers in the 40s and 50s built better than trailers today?

[28:50] Does Denny work on any mobile homes?

[30:25] There are three types of markets or people who buy these types of trailers.

[34:35] Denny shares some funny restoration stories.

[36:15] Does Denny do any modifications for pets?

Mentioned in This Episode:

Send deals to Deals@parkstreetpartners.com

Socalvintagetrailer.com

Call Denny: 619-857-1847

EP115: Interview: Denny Stone of So Cal Vintage Trailer Nov 29, 2018

Welcome to Episode 115 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Denny Stone is based out of San Diego, California and is the owner of So Cal Vintage Trailer, which restores vintage trailers to running and functional condition. Denny shares his restoration process, what he likes about these vintage trailers and the types of people who are most attracted to these trailers.

Key Takeaways:

[1:30] What did Denny do before he got into vintage RVs?

[2:55] How does Denny find his trailers?

[5:35] How long does it typically take to renovate a trailer?

[7:50] How does Denny find the right parts for the vintage trailers?

[10:10] Denny shares how he finds his talent and what the process looks like.

[15:20] What makes a Spartan trailer different than the ones available today?

[19:10] What other brands of trailers does Denny work on?

[20:25] How much does the average restoration cost?

[23:25] What kinds of modern upgrades does Denny add to these trailers?

[25:45] Are there some aspects of the trailers in the 40s and 50s built better than trailers today?

[28:50] Does Denny work on any mobile homes?

[30:25] There are three types of markets or people who buy these types of trailers.

[34:35] Denny shares some funny restoration stories.

[36:15] Does Denny do any modifications for pets?

Mentioned in This Episode:

Send deals to Deals@parkstreetpartners.com

Socalvintagetrailer.com

Call Denny: 619-857-1847

VIDEO: EP114: SECO 2018 Trade Show Recap Nov 22, 2018

Welcome to Episode 114 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson is back with another SECO Trade Show Recap. Find out more about some of the interesting things that were featured in this year’s conference and we hope to see you next year!

Key Takeaways:

[1:00] This week, Jefferson is doing a review of the SECO Conference he just attended last month.

[1:50] The conference first started off with a session on social media marketing that was very interesting and filled with some great resources.

[4:25] The next session was about five key ways to bringing in new homes.

[7:00] There’s really always a risk and that includes even doing nothing.

[8:30] Craigslist tends to attract a lower quality tenant, so it’s best to advertise on Facebook, Zillow, Instagram, and Mhvillage instead.

[12:10] The next session was about internet marketing and the importance of mobile-friendly websites.

[13:35] It is estimated that by 2020, all search will be done by voice.

[15:45] HUD has filed a complaint against Facebook for violating fair housing.

[18:25] Video media still dominates the internet!

[20:15] Credit Human was there and they directly lend to mobile home owners.

[21:10] Next session was about lessons that were learned from new park owners.

[23:55] Have conversations with your tenants! Don’t make improvements that they won’t want.

[25:15] The next talk was about determining the value of your mobile home park.

[27:00] Thinking of selling? Plan a year or two in advance.

[31:05] You should have roughly 10% of the purchase price in cash reserves when you purchase a property.

[32:25] Ozone generators are a great way to remove smells from a house as well as kill bed bugs.

[33:05] Jefferson lists some excellent resources for mobile home financing.

[34:55] Like what you heard? Please rate us on iTunes!

Mentioned in This Episode: