Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

22 Units Closed!

11 Sept 2023 · 1 min

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In this brief video, Christian Osgood explains that he and his partner Cody have just signed the paperwork for a $1 million, 22‑unit hotel that is being sold with seller financing. The property will be converted into multifamily housing, requiring only minor electrical work. Christian contrasts seller financing with conventional bank financing, noting that the transaction is streamlined to a promissory note and deed of trust, making the closing process much faster. He highlights the excitement of the project while acknowledging typical real‑estate uncertainties.

Chapters

Earlier today, Cody and I signed this document here for a 22-unit seller-financed hotel that we're going to be converting to multifamily here very shortly. A really exciting project. That was a $1 million transaction for a very nice piece of real estate. Just needs a little bit of electrical work done. Should be a fairly easy conversion, but you know how that goes. Real estate rarely ever actually goes exactly as we expect. However, really cool. If you guys are wondering the difference between seller and conventional finance, look at that. That is all the paperwork. That's it. That's all you have to do to sign for a piece of real estate. We have our basic items in there, then a prom note and a deed of trust. Got all those bank documents, this goes a heck of a lot faster. There it is, plus 22.