Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Have You Ever Bought A Resort Before? #multifamily

4 Jan 2023 · 0 min

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In this brief conversation, Christian Osgood explains why traditional banks are reluctant to finance first‑time resort purchases, citing strict net‑worth and experience requirements that often block newcomers. He advocates seller financing as a practical alternative, emphasizing a relationship‑based approach: learning directly from owners who have successfully run resorts for decades. Osgood describes how his team meets with seasoned owners, studies their operations, and even moves an associate (Cody) into the property for 30 days before closing to gain hands‑on insight. The dialogue highlights the benefits of seller financing, the importance of mentorship, and practical steps to mitigate risk when acquiring a resort.

even for the 10-unit, like people don't really talk about what it takes to qualify for big loans, but you have to have like certain net worth requirements equivalent to the loan balance. They make you prove that you like have experience and things of that size. And so if you were going to a bank and saying finance this resort for me, they'll probably say, well, have you ever like bought a resort before? And then you'd say no. And they would say, well, good luck. We're not going to finance that. And so I think there's a million benefits to seller financing.
Yeah, that is actually how we do all the seller financing is we find people who've done something that we haven't and We meet with them only to learn how they did it. I've never asked anyone to sell a property. I've never written a letter of intent. It's all been relationship-based because we just learn from people who have mastered the game. The people who have that resort have run that resort for 25 years. We came in and said, we want to learn how to do this. And we actually moved Cody in for 30 days prior to closing.
Wow, that's cool.
Yeah, that's not— not everyone does that to close the deal. It is a little different.