In this short video, Jay Conner is joined by Jefferson Lilly of Park Avenue Partners.
Park Avenue Partners is a real estate investment partnership that invests in and operates mobile home parks nationwide.
It is their mission both to generate above-average risk-adjusted returns for their limited partners, as well as to increase the supply of affordable housing for low-income Americans.
How does Jefferson find the deals of a mobile home park and what are his criteria in determining a great deal?
Watch this short video now to find out!
For more valuable information click on this link and watch the complete episode: https://youtu.be/zPxVtNFSdrc – “Own A Mobile Home Park Now! with Jefferson Lilly & Jay Conner, The Private Money Authority”
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Jay Conner:
How do you go about finding the deals of a mobile home park? How do you go about finding the deals and what’s your criteria for knowing what a good deal is?
Jefferson Lilly:
We tend to look for metros of around 50,000 people or larger. We tend to look in metros where also the average house price is a hundred thousand dollars or higher. And we like to be within about five miles of a super Walmart. We’ve found if we can get all of that to line up that we’ve got a pretty good investment. We’ll still run test ads will still, of course always go and visit the properties and walk through that property competing properties and what have you. But again, we found if we’re within five miles of a super Walmart, the average house price is 100,000 bucks. We’re probably in a decent economy we don’t have to have a raging, San Francisco, Silicon Valley, super strong economy. We just want to make sure the economy is fairly flat, fairly constant. And then we can make our improvements and earn a decent rate of return.
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