Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

How this guy scored a free apartment building

15 Nov 2024 · 1 min

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In this video Christian Osgood walks viewers through a 25‑unit, seller‑financed apartment campus that was sourced by Caleb Hommel. After three earlier deals that relied on broker listings and thousands of cold‑call attempts, Caleb changed tactics: he traveled to Stephenville, met the property owner in person, and negotiated uniquely favorable terms—including a low down payment, low interest rate, and special clauses—that no other buyer could obtain. Christian details how the property was purchased at roughly $550 per unit, then renovated and re‑leased at $1,200‑$1,250 per unit without forcing rent hikes on existing tenants, resulting in high occupancy and happy residents. The narrative emphasizes that building relationships—one owner meeting, one trip—can outperform mass‑calling strategies, and Christian ends by highlighting Caleb’s skill in deal‑making.

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.