April 21, 2021

Mentorship and a Mobile Home Park, with Kyle Roemmich and David Keating

Episode 108:

Kyle Roemmich is the owner of Fort Wayne Property Group in Fort Wayne, Indiana, and David Keating is a real estate agent with the business.

Their team serves a wide range of clients, from mom and pop owners to larger real estate investors. Regardless of the size of the client, Fort Wayne Property Group always brings their hands on approach and the kind of personalized service that larger management companies just can’t match.

They understand how to protect your investment. Fort Wayne Property Group has a home improvement license and a lifetime of property maintenance experience. They know what is necessary to keep a home or building in good working order. They also know what maintenance and repair services should cost, helping them to minimize the expense of these services to owners.

What you’ll learn about in this episode:

  • How Kyle and David’s business partnership began, and how David’s early start in real estate has let him hit the ground running
  • How David and Kyle have built up their single-family home business by using their existing customer base to generate leads
  • Why Fort Wayne Property Group focuses primarily on lower-income housing below the median market value
  • Why Kyle and David decided to buy a 32-site mobile home park, and how they were able to purchase it at a great price
  • What advantages they have seen from purchasing the mobile home park, and what kind of numbers they are operating with
  • How David and Kyle have raised the average lot rent to almost double what it was when they purchased the park, and how they plan to continue to profit from the deal going forward
  • How Kyle is anticipating a coming economic downturn, and why he expects that downturn to be good for his mobile home park
  • How the mobile home park is already breaking even to the cost to buy it and will begin to cashflow in the near future
  • Why the one thing Kyle would do differently if he could do it all over again is to find a great mentor early on in his career
  • Why David’s goal is to retire at 30 and “make a lot of money”, and how learning from David is crucial for achieving his goal

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