Jefferson Lilly is a mobile home park investment expert and educator. He founded Park Avenue Partners, a private equity real estate fund that acquires and operates mobile home parks nationwide. His investment funds return 10% - 15% IRRs to Limited Partners. Jefferson has acquired 43 MHPs in 15 states since 2007, personally and through his partnerships, totaling over $81mm in value. He started the industry’s first MHP podcast and the largest group on LinkedIn dedicated to investing in mobile home parks. 

Before beginning to manage investors’ money in 2014, Jefferson spent seven years investing his capital in mobile home parks and consulting high-net-worth families interested in the manufactured housing industry. Jefferson has been featured in The New York Times, Bloomberg Magazine, and on the Real Money television show. He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business.

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Key Highlights from the Show:

[01:44] Episode intro and a quick bio of the quest; Jefferson Lilly

[01:22] Jefferson’s backstory and how he started in real estate

[05:40] How his investing looked like while working on a W2 job

[08:31] What makes mobile home parks better than other models of real estate investing

[13:47] The downsides of mobile home parks and what new investors need to know

[16:23] The investment opportunities in mobile home parks

[20:26] The one thing Jefferson wishes he had known before starting to invest in real estate 

[21:17] How to create a successful business like Jeff’s with a W2 and a limited amount of time

[22:32] Jeff's advice to anyone who wants to become an active syndicator but has little cash and experience 

[24:38] The best ways to partner with limited partners 

[26:18] The best way to reach out and connect with Jefferson

Notable Quotes:

• The key things that make mobile home parks better than apartments are limited competition and repair maintenance.
• Investing in mobile parks on a public utility is more accessible than dealing with private investors.
• Get started in real estate investing as soon as possible, and learn while you are in the game.

Jefferson Lilly:

Website 1:https://www.parkavenuepartners.com/

Website 2: http://mobilehomeparkinvestors.com/