Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

BIGGEST MISTAKE I made in Real Estate?!

23 Apr 2023 · 1 min

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Christian Osgood scaled to over 125 rental units but made one costly mistake: he didn't ask investors what they actually wanted. One investor pulled out because he craved hands-on involvement in construction, not just returns. Osgood calls it his biggest lesson about growth.

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One big mistake I made when scaling up my rental portfolio to over 125 units. One of the first and biggest mistakes I made was I didn't spend enough time on the people, the investors that got me there. I didn't really identify their goals. So one of my first investors, the only person who ever asked for a return of capital, he was happy with the deal. The deal made money. It hit all the metrics you'd expect. What I didn't do is learn what he really wanted. He wanted to be a part of the team. On that deal, I didn't have room or a real role for him, and he felt really hurt that he's like, hey, I want to contribute. I want to be part of the construction. And I wasn't able to deliver that to him. Only time we've ever had someone ask for money back. Huge bummer. Biggest mistake I made on the way up was not identifying people's individual needs.