Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

4 years at $1k a month?! That’s a win!

20 Apr 2024 · 1 min

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Christian Osgood bought a duplex with $30,000 down and pulled $1,000 a month in cash flow for four years. The city shut down the lower unit for ceiling height violations, so he rezoned it to single-family and sold after $100,000 in appreciation. His first rental deal taught him hard lessons about permits and due diligence.

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Here's how I got paid to make $100,000 on this here, my first ever piece of real estate. So first of all, I bought a deal that cash flowed $1,000 a month. First property ever purchased, bought it for $30,000 down and it's paid me for the last 4 years about $1,000 a month in total net income, which is fantastic. Now over the years, the lower unit actually got shut down by the city. There's a problem with the ceiling height and some of the design things that I didn't know to look for in permitting. When I first bought this place. It was already rented as a duplex, and so we rezoned it as a house. I'm now selling it. It's had about $100,000 of appreciation, so I got paid $1,000 a month for 4 years, and I'm now going to get $100,000 for selling the place. As first rentals go, not a terrible deal.