Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Broke Teenager spends $5,000,000

7 May 2024 · 0 min

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0:23

In this interview segment, a 19‑year‑old real‑estate investor (Speaker B) explains how he acquired a 10‑plex despite having no personal cash for the $90,000 down payment. He raised capital by partnering with three investors, each contributing $30,000, to fund the purchase. The host (Speaker A) emphasizes that buying real estate at 19 is advisable, noting the investor’s two years of experience and expressing enthusiasm for his early success. The conversation then shifts to the investor’s next acquisition, hinting at a second deal that builds on the first.

Now on that deal, did you buy that yourself? Did you have partners? What was the structure of that deal?
Yeah, so I had partners on that. Being a 19-year-old who's in the red every single month, turns out I don't have $90,000 to go put as a down payment. So got the deal under contract, then raised capital, partnered with 3 different people on that deal, each with $30,000, and they funded the down payment on that one.
Should people be buying real estate at 19 years old? Absolutely. 21 now. Buy it at 19. 2 years experience. I love this. You bought at 19 and your biggest regret is you didn't buy younger.
Exactly.
That's, that's amazing. So fresh out of high school, buy a deal, get into that 10-plex. You did it once. What did deal— what did the second deal look like?
Yeah, so deal number 2 was 8-unit in Laredo, also a border town. Actually went under contract on that about 3 weeks after I went under contract on my first deal, so it was like a bang-bang situation.