No matter what asset class you want to invest in, creativity is key—especially if you don’t have a rich uncle to help you get started!
You just have to stop asking yourself, ‘Can I do this?’ And start asking yourself, ‘How can I do this?’
Christian Osgood left his sales job with CoStar Group to become a full-time investor at age 29. And in the last 18 months, he leveraged creative financing to build a portfolio of 95 units.
Today, he is Cofounder of Multifamily Strategy, a platform that helps others achieve financial freedom with real estate and take back control of their lives.
On this episode of Financial Freedom with Real Estate Investing, Christian joins Garrett and me to discuss his top creative strategies for buying property, challenging us to think beyond price when we negotiate a deal.
Christian walks us through the fundamentals of seller financing, explaining how he introduces himself to property owners and why he focuses on understanding their goals to build a strong relationship.
Listen in for Christian’s insight on using Google Maps to ‘drive for dollars’ and learn his formula for finding creative ways to close a real estate deal.
Christian Osgood and Cody Davis – Key Takeaways
How Christian got into the real estate industry
- 7-year sales career to saving up to buy real estate
- Overcame analysis paralysis and bought duplex
Why Christian skipped single family investing
- Made little money with live-in flip of condo
- Meeting Cody inspired him to scale faster
How Christian bought his first 2 duplexes
- Saved up money working 9-to-5 for CoStar
- 100% financed hard money loan to buy second
What Christian did once he ran out of his own money
- Built relationship with older owners of 38-unit
- Learned owner’s goal to retire + earn $10K/month
- Negotiated for $300K down on $2M purchase
- Brought on 3 equity partners for down payment
What objections Christian runs into re: seller financing
- Brokers may not know how it works
- Little resistance from owners with low debt load
How Christian gets owners to suggest seller financing
- Be relatable by finding common ground
- Communicate your goal and its significance
- Don’t ask to buy property, ask for help
How Christian & Cody find contact info for owners
- Use Google Maps to identify apartments
- Find owner with county tax data, OpenCorporates
Christian’s cold call script for talking to property owners
- Introduce self as owner of neighboring property
- ‘You’ve done something I haven’t,’ ask how
What a seller financing deal looks like
- Seller functions as bank and carries note
- Non-recourse debt backed by equity in asset
What Christian likes about creative financing
- Not limited to price, everything is negotiable
- ‘With the right terms, you can do anything’
Christian’s 2 rules of winning at real estate
- Own property by meeting owner’s objectives
- Keep property via cashflow, fixed-rate debt
How Christian & Cody raise money without syndications
- Bring on JV partner in equity position
- Set buyout agreement with minimum return
How Christian cultivates relationships with investors
- Attend real estate Meetups
- Talk to people about what their goals are
How Christian plans to scale his real estate portfolio
- Bought $4.5M deal with seller financing
- Open to learning other strategies
Connect with Christian Osgood
Multifamily Strategy on YouTube
Connect with Michael Blank
Apartment Investor Network Facebook Group
Email [email protected]
Related Articles
How I Got Started in Multifamily Investing
What's the Best Strategy for New Real Estate Investors?
Resources
Learn More About Michael’s Mentoring Program
Join the Nighthawk Equity Investor Club
Purchase Michael’s Syndicated Deal Analyzer
Access Michael’s Free Resources in the Freedom Vault
Review the Podcast on Apple Podcasts
Financial Freedom with Real Estate Investing by Michael Blank
Cody Davis on Financial Freedom with Real Estate Investing EP257
