Real Estate Investing for Cash Flow with Kevin Bupp

Jefferson Lilly is a mobile home park investment expert, educator, and industry consultant who has been featured in the New York Times and Bloomberg Magazine. 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, and consults to mobile home park owners in California.

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.

In this episode, Jefferson shares with us the Top 10 mistakes he made when getting started in this business with the hopes that you can learn from his mishaps and avoid these same pitfalls

In this interview with Jefferson you’re going to learn:

· The benefits of having a dedicated greeter at each one of your parks

· Why you should never rely on mobile home park dealers to fill your parks with new residents

· Why outsourcing key parts of your business is essential if you want to scale

· Why you’re letting money walk out the door if you don’t have a website showing the amenities of your park and the available units

· The benefits of using local banks on deal sizes of less than 1.5 million vs. the larger regional multi-state banks

· How syndicating deals and raising private equity has allowed Jefferson to grow much faster than he would have doing it on his own money

Jefferson Lilly is a mobile home park investment expert, educator, and industry consultant who has been featured in the New York Times and Bloomberg Magazine. 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, and consults to mobile home park owners in California.

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.

In this episode, Jefferson shares with us the Top 10 mistakes he made when getting started in this business with the hopes that you can learn from his mishaps and avoid these same pitfalls

In this interview with Jefferson you’re going to learn:

· Why building a team and surrounding yourself with other successful people in your niche is vital to your success

· Why you need to be slow to hire and quick to fire with park employees and managers

· How to dramatically increase your bottom line by buying 4 br MH’s instead of the common 3 bd units (almost the same price)

· The dangers behind not being fully involved with your park i.e., working a full-time job and trying to manage a park in a different state

· Why he loves tax season soooo much and looks forward to it every year

· And much more…

Danny would dream about one day owning and operating a successful commercial real estate investment firm. In 2008, Danny and his co-founder, Chris Newberry finally got started by founding Value Investment Group which specializes in distressed and value-add commercial real estate investments with its core focus being multi-family and retail shopping centers.

Danny shares with us the steps he took to get to where he is today in owning/operating 200+ units of multi-family real estate. Also, Danny walks us through one of his most recent value add multifamily acquisitions and speaks specifically to the step by step process of adding massive value (forced equity) to this asset. You're going to love Danny’s story.

In this interview with Danny you’re going to learn:

· How he uncovers hidden value in distressed and value-add projects

· The big lessons he learned after doing his first few deals

· Why learning how to raise money has helped his real estate business grow

· The critical lessons he has learned along the way in his real estate journey

· How his relationships with brokers has proven invaluable to finding great deals

· And much more…

Carlos has built his success from the ground up and is a true, rags to riches story that needs to be told. Carlos worked his way up the ranks and built skill by starting as a laborer for a construction firm and methodically working his way all the way to project manager before making a career jump into the mortgage industry which was the start of something really BIG!

Carlos worked in the mortgage industry only a short time before realizing that he could make way more money investing in real estate. So he began buying single family investment properties in the Boston area where he bought and sold over 34 houses in just 2 short years. He moved to Dallas in 2008 and started the Conti Organization with few contacts, limited funds and little multifamily experience, but has his mind set on doing big things in his business.

His first multi-family acquisition was a 208-unit apartment building which he bought in March of 2008 and over the past 7 years has gone onto grow his apartment investment company to almost 4,500 units and $100+ million, all accomplished by the age of 36.

In this interview with Carlos you’re going to learn:

· How he’s been able to realize so much success in such a short period of time

· How his upbringing played a major role in his strong work ethic

· Why networking with brokers & appraisers are critical to your success in the CRE industry

· The 4 things you always need to be doing to grow your RE business

· How to determine the correct target market

· The essential steps to raising money for your deal

· And much more

The most successful commercial real estate investors usually specialize in one asset class and don’t try to be a “jack of all asset types”. There are 5 primary asset types which include Office, Retail, Industrial, Multi-Family, and Land. Each of these different asset types have their fair share of pro’s and con’s which we’ll go into detail on with this show.

What you’ll come to quickly realize is that when you focus in on a specific asset type, you will become an expert in how this type of property is owned and operated. Being an expert in one particular property type is much better than being mediocre in many. You’ll see that you find your most successes when you deal within one specific property type and stay laser focused. Each one has its own pro’s and con’s which is what we’ll be covering in today’s show.

Here’s what you’ll learn:

· Which asset type best fits your investment style

· Which property types can provide 25 year leases - WOW!

· How to determine the primary drivers for filling your specific property type

· The different risks and rewards of owning the 5 different property types

· Why multi-family is usually the best transition when moving from SFR investments

· And much more…