Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

4 phases to become a multimillionaire

30 Mar 2024 · 0 min

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Christian Osgood breaks down wealth building into four phases: acquire assets, stabilize occupancy around 90-95%, optimize operations, then pay off debt. Each phase brings comfort, though letting go of a paid-off property can be emotionally hard.

I think there's 4 phases to business, at least in real estate. You have the build phase, acquire what you need to hit your goal. You have stabilize, make sure you're at 90-95% occupancy. Optimize, where let's get every little thing fixed. And then stage 4 is pay off the debt.
No, I hear you, man. You get in the game, you're acquiring a bunch of stuff, and then it's like, okay, well, this feels uncomfortable. Now let's stabilize everything. That gives you another sense of comfort. And I think the ultimate sense of comfort, if that's what you're looking for, is to have no debt. And there's nothing wrong with that strategy.
Hard to lose a paid-off property.
Now, from a return on equity standpoint, you can probably better by leveraging a lot of that equity. But you know what's going to happen, dude, is you're going to get to a point where everything's stabilized. You're going to be like, what's next? And you're going to want to buy more. It's just for a lot of us, happiness stems from growth and progress. You grow, you feel a little overwhelmed. You're like, hey, let me stabilize everything. Everything gets stabilized. And then you're like, okay, I'm bored. What's next? What you think you want today is going to be different when you get there.