Jefferson Lilly
person on 1 show · 9 statements across 1 episodes · said 5 times in 2 episodes since 2016
On the record as a speaker too: Jefferson Lilly across every show, appearances and statements → this page counts the times other people say the name.
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9 statements about Jefferson Lilly, every show
Lilly: Two Oklahoma City mobile home parks generate over $100K annual cashflow
“Those two properties I've got entirely on my own in the Oklahoma city area. Those are a little over a 100,000 in cash flow to me every year. That's less than a hundred lots that I've got between those two properties.”
Lilly: Park Street Partners GPs personally guarantee 85% of their fund's debt
“Plus we sign personally so far have been signing personally on most of our debt, about 85% of it. So we're putting up personal guarantees backed by our houses, cars, our net worth.”
Lilly: Park Street Partners has mobile home deals generating over 40% cash-on-cash
“We've got a couple deals that are doing over 40% cash on cash.”
Lilly: Mobile home park investors should earn at least 20% cash-on-cash returns
“Basically in this business, if you're not earning 20% on your money, you're doing something radically wrong.”
Lilly: Mobile home park rent is 30% expenses, 35% mortgage, 35% profit
“Yeah, so for every dollar in rent, yeah, that I collect, I Keep 70 cents. Well, to then pay the mortgage, and then once I've paid the mortgage, then, which usually eats up half, then, you know, roughly the remaining half of that goes into my pocket.”
Lilly: Infill mobile homes cost $20K and rent for $550 to $600/month
“Five grand to fix it up roughly, and five grand or so to move it. So, you know, all in, I had something like 20 grand in each house, and was then putting them on rent to own agreements. Folks would be paying. Roughly five 50 a month, maybe 600.”
Lilly: First mobile home park yielded 25% to 30% initial cash-on-cash
“So again, I paid four 50, the property was earning 45,000, but I did buy it with debt, so leverage, you know, worked in my favor. So, you know, for putting, I don't recall exactly, for putting the 86 down, I was probably cash flowing at least 20, 20 something …”
Lilly bought his first mobile home park for $450K with 19% down
“Oh, it was about 450,000, and I got a Bank to lend me 81% of that, so I only had to put down 19%.”
Lilly: Mobile home parks yielded 300-400 bps more than traditional apartments
“I came across mobile home parks that were this quirky little, you know, one out of every hundred multifamily listings that I'd see online would be a mobile home park yielding Like three, 400 basis points more than apartments.”