Christian Osgood tours a 25-unit apartment complex with investor Caleb Hommel, who closed the deal by flying to Stephenville and meeting the owner in person. After three failed seller-finance deals through brokers and cold calls, this relationship-based approach landed him low down payment, low interest, and special terms. Rents have climbed from $550 to $1,250 for two-bedrooms.
Chapters
I'm here at our 25-unit seller finance campus with Caleb Hommel. He found this deal. This was his 4th deal. The first 3, the first 3 deals he did seller finance, he went through brokers, he made about 2,000 phone calls. This deal, he actually went out to the city of Stephenville, he met with the owner, he got terms that no one else could have got. Low down payment, low interest, special clauses, the whole 9 yards. Put together a fantastic deal. Today, this campus is absolutely doing awesome. Rents at one point were like $500 $1,250. We're renting some places here for like $1,200 now. Just leased a 2-bed for $1,250. It was $550 when we bought this place. And we have happy tenants who love living here. We didn't jack the rent on anyone. We just had a vacancy, we renovated it, we released it. This property is doing amazing, and it was made possible not by making 1,000 phone calls, but by making one owner meeting, one trip out, and forming a relationship that led to other relationships. Playing the game? Watch out for Caleb Hommel.