Christian Osgood and Cody are restructuring their real estate company, not splitting up. Cody will focus on deals and financing while Christian handles operations and property management. They've unlocked $320,000 for a 38-plex renovation and pulled $170,000 for another asset while optimizing their business.
Chapters
This shit, I'm out.
We're gonna have Christian do what he does and Cody's gonna keep doing Cody things.
Put your best person in the best seat on everything you do in your business. Hey YouTube, welcome back to our channel. I'm Christian, this is Cody. We are no longer partnering on everything. We're gonna go into the details here. We are breaking up some of the businesses. There's a reason why we're doing it and a reason for the timing. So welcome to our channel. If you haven't yet, like and subscribe, and here we go. Go.
Now, today we are talking about why we separated the partnership on one of the companies.
One of 23.
Yeah, there's all of it, right? No, but we're separating it out. We have 4 main stages in our business cycle. And you've got build phase, stabilization phase, optimization, and then debt hammer. And we're not to that one yet, but stay tuned. We are in number 3. We are in optimization phase. And what we've realized and been saying this on the channel for a little while is that we'll get you to where you're at. Is not necessarily going to get you to the next level. And so what does that mean for us? Well, it means separating out one of the companies. We're going to have Christian do what he does and Cody's going to keep doing Cody things, which is not property management in this case.
Yep. You want to keep everyone at what they're best at. So the first thing that we did, and we've been very public on this on the channel, we are not changing anything. We don't renegotiate equity. We don't make any major changes to the partnership until we hit our goals. Well, we did that when we set out. The goal was I want to retire my wife. Now I have other goals I've communicated, but the main goal getting started in the partnership was I want my wife out of teaching. We did that. Cody wanted to retire his mom. Now, while it takes more time to find the correct house she wants to live in and finish the transaction, we have 100% of the pieces we need for that. So we have hit our goals of what we originally did. Now we start looking at what's the next level while we prepare to start paying off all the original portfolio that bought us our freedom. We're going to scale up and buy more real estate. We made the decision we want Cody doing a bulk of the deal finding, closing, and financing. While that's not as many tasks as I have, those are the most critical tasks. They're huge, huge important things. Find the deals, line up the money, make sure that we don't die in between.
Yeah, you know, bankruptcy is not a very good option, so, uh, we're going to opt to not do that. But that's one of my very few roles. Is lining up the money, making sure we got the deal flow, the positive cash flow, and that we keep expanding so that we get more money and we can hammer all of our debt. Yep.
Cody has a huge hat. In my case, I have very many hats that I'm going to wear, and I am personality-wise the one who typically manages the people and a lot of the moving parts. And so I have a bunch of roles that support this property management. I traded Cody a building. For the actual company. Now, while that company has a bunch of upside, it has a ton of work. There's a very active job. I'm going to take that one on so that I can manage the people, put together the teams, and make sure that everything keeps moving in the meantime. This means I'm working on our coursework, means I'm working on our buildings. This means the maintenance contractors, all those pieces that support you between point A and point B are going to be run through me so that Cody has the ability to work on the front end build the next phase of our business. So build phase part 2, Cody's opening up, and Cody's working on optimizing everything we have and making sure we have the capital to do so, which means Cody is now on the phase where I'm doing stabilization optimization and Cody's working on building the debt hammer.
Yep, and I just unlocked another $320 grand in capital to fix up one of our buildings, so we're optimizing that asset. That'll be the 38-plex. We're doing that in real time. I'm working on pulling out another $170,000 to optimize another one of the buildings, but little by little we're optimizing the real estate and then we're going to pay it all off. Now, like we mentioned before in the beginning, everybody should be able to do everything. You should be able to wear all the hats when you're partnering because if one partner is way further ahead or way more skilled than the other, it can really strain your partnership. However, you should be able to get to a point where you can get into your own silos and really do what you're just best at. Be the most optimized version of yourself. And I started out in property management. That's what gave Christian the confidence to do the 38-plex with me, which is what launched this channel with us. It was the very first time we ever talked about it together. Very first video, check it out. We'll put the link down below, but, um, we've come a long way since then. However, I was able to inspire confidence because I had done PM. Now I'm not doing any PM because I'm not the best operator at PM. I'm better at actually going out and acquiring the real estate. And so we're in our own silos. Christian's a business guy and I'm a real estate guy, and we've separated that out. And we're going to be sharing that with you on the channel here. But there is a point where you're going to have to do that with your partner because it will never always be— it's not going to be equal.
Yeah. And so this is the optimization phase of our partnership. Just because you can doesn't mean you should. Cody can manage properties. He's done it before. Is it what he's absolutely best at? No, that's not his best piece of real estate. It's just something that he is able to do. I am really good at managing people. Can I go out and buy real estate? Yes, I've done it on my own prior to meeting Cody. I've done it on some of our deals. However, Cody's done most of the deal finding. Put your best person in the best seat on everything you do in your business. Hit a target and then look at, okay, if we have achieved this— and that is the first thing— if we have achieved it, what is the best way to get to the next level? In this case, it's specialization. And it's not just in With Cody and me, this is within all the companies as well. The contractors are using the people that we have in each position are being selected, and in some cases weeded out, but we are optimizing every single piece of our business. This is how we are going to bring the most value to you on this channel. I will run the business ops and Cody's going to run the real estate acquisition. Between the two of us, we will have even more to share with you. Very, very excited for this phase. Yeah.
Yep. So make sure to stay tuned because we are going to be branching out into very specialized videos. It's going to be a lot of fun to share it with you. Make sure to hit the subscribe button. And as always, if you're interested in repeating this for yourself, check out multifamilystrategy.com and we'll see you next time.
