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147: Are Mobile Home Parks Right for You?

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As you know, I have been on a kick to challenge myself to learn more about things that I don’t know about and to challenge my personal investing dogmas. 

Recently, you saw me come out of the proverbial gold closet and proclaim that I don’t see the point of owning physical gold. You can hedge the economy with appreciating real estate with leveraged debt and cash flow to boot. Who needs gold?

Again. Please write me and prove me wrong but that’s where I’m at right now when it comes to this beautiful but useless precious metal.

On the other hand, there are areas that I went into thinking that I would be more excited about than I ended up being. To be honest, mobile home parks were one of those.

I started looking at mobile home parks and mobile home funds recently expecting yield to be significantly better than apartments. No one buys low income housing for appreciation so I figured the cash flow must be super high and the tax advantages must be off the charts.

But honestly, that’s not what I found and so I’m back to being a true blue apartment investor. 

Recently, I got asked if I would like to have Jefferson Lilly on my show. I looked at his bio and was pretty impressed. He’s a Wharton business school guy who lives in San Francisco. He’s obviously smart.

Furthermore, his bio said that mobile home parks were BETTER than apartments as an investment. So, I figured if anyone could convince me to leave my happy place outside of apartments it was him.

So, on this week’s Wealth Formula Podcast, you will hear that conversation and will give you a chance to make a decision for yourself.

Don’t miss this the show.

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.