Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Buying A Resort With Seller Financing

5 Jan 2023 · 1 min

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Christian Osgood bought a resort with seller financing after the advertised zero-down deal turned out to require $1 million down. The seller financed the remaining $3.5 million at 4.5% interest. Despite the bait-and-switch on the down payment, Osgood's team moved forward.

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seller financed the resort we bought. We actually were supposed to be $0 down. The guy who recommended that we check it out was like, hey, I have a resort that is zero down, which is why we checked out a resort. It's not usually what we do. Turns out it was $1 million down. So there's a few extras there. It's not a big difference. It was a little bit of a difference. However, it did get us to check out the resort, and that was when my team decided this is the project that we want.
Yeah, they bait and switched you though. It was like, come check it out.
Yeah, well, to be fair, the owners didn't say that. One of my friends said that they're working on a zero down deal. Yeah. So we get down there and it turns out they want $1 million down, which was a little bit more. But that's exactly how that deal worked. They seller financed $3.5 million. Like, that's a huge chunk.
Yeah.
Of your debt figured out. And it's at 4.5%.