369: Escaping the Day-to-Day Grind to Work ON Your Business with Jefferson Lilly
Published February 13, 2020
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72 min
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    Want to step out of your business and finally gain the freedom to think more strategically? Let Jefferson Lilly show you how! Jefferson is a mobile home park investor, who went from sleeping on an air mattress on-site at his mobile parks to running a lean team and focusing his energy on raising millions from investors. No matter what stage of your career you’re in or what your preferred strategy is, you’ll get a ton of value out of this high-level discussion about building a “2.0” business that serves you AND your team. You’ll learn how Jefferson went from acquiring parks “deal by deal” to starting a fund, how he overcame fear to hire several six-figure employees, and how he incentivizes his team to maximize occupancy. Also, Jefferson breaks down the criteria he uses to narrow down potential deals (including proximity to a Walmart)—AND reveals the four main ways he and his team reach out to mom-and-pop park owners. This is an awesome show, whether you’re interested in mobile homes or not. So check it out, and subscribe to the BiggerPockets Real Estate Podcast so you won’t miss the next one! In This Episode We Cover:The “unfair advantages” of mobile home park investing4 main methods to find off-market dealsHow his team uses brokers to source dealsHiring 6-figure employeesHow Jefferson has raised more than $30M from 200 investorsHow he incentivizes his team based on occupancy2 factors that drive profitability in the mobile home park businessThe difference between a “2.0” business vs. a “1.0” businessJefferson’s biggest career regretWhy he aims to hire “coaches” rather than “cheerleaders”How and why he started a fund rather than individually syndicating dealsAnd SO much more! Links from the ShowBiggerPockets ForumsBiggerPockets WebinarBiggerPockets Podcast 111: A Unique (and Profitable) Real Estate Niche You’ve Probably Never Considered with Jefferson Lilly$13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ OsborneBiggerPockets Podcast 339: 60,000 Tenants?! How Frank Rolfe Built a Mobile Home EmpireMobile Home UniversityBiggerPockets Podcast 262: $600,000 Per Month in Gross Rents from Mobile Home Parks with Jefferson LillyIndeed.comBiggerPockets Podcast 361: Using $3,500 to Kickstart an “Unsexy” Investment Empire with Tristan ThomasTim Ferriss PodcastThe Dave Ramsey ShowQuickbooks Check the full show notes here: http://biggerpockets.com/show369
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