Cody and Christian Osgood discuss their 2022 real-estate strategy, including a 38-unit building renovation and potential partnership with Grant Cardone. They emphasize setting goals around purpose, not just numbers: Cody's goal is to retire his mother by covering her mortgage.
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Hey YouTube, this is Cody. Christian is back with me today and we're going to be talking about a couple updates that we have on our business, on what we're doing, and some stuff that might benefit you guys in getting into the real estate space. So Christian, what's the newest thing that actually just launched today?
The newest thing, and I think the most exciting thing, is Cody is on the main podcast for BiggerPockets that launched, I think, late, late last night. This is the first day you can watch it on YouTube. If you have not seen that yet, watch it. That is an hour of Cody talking about how he got to where he is, telling his story, what we do. We will attach a link somewhere down here, maybe over here. We're gonna put a link on the screen for you. Follow that, watch the BiggerPockets video. That's going to be awesome.
And I got to dive into what I'm doing and why I'm doing it, but more of the how— we didn't get to jump into that. I got to an hour in into the podcast and we had to cut it off. And I was like, there was so much I didn't get to say. So watch it. And if you get something out of it, just know that you can do this. But then it comes back to the how, and that's what we're trying to put out onto our YouTube channel, because in 1 hour I cannot share everything that can get you from A to B. And so through countless hours on YouTube, we can get you there.
Yep. Now, what to expect for this year. We're now in 2022. I'm back from vacation. Cody's back from being sick. We will have weekly videos updating our properties. The showcase one is the 38, but we also have a handful of duplexes, a 7-plex, Cody's 12. We have buildings all over that we will be giving you updates on, showing you what's happening with renovation, with problems, cash flow, all the numbers and successes, the headaches.
Yep, you guys are going to see everything that we're seeing. The beauty of it is, is you don't get the calls at night. So you get to be an investor alongside and watch without taking the headaches, and you're going to see exactly how we're doing what we're doing. That said, for the 38-unit apartment building, we have 2 units completely renovated. We went back and forth on this. We're deciding to take that to the highest quality we can. We're putting in granite countertops, under-mounted sinks. Everything is brand new. We've got another 2 units that are being finished up this week. Mm-hmm. And we are actually looking to potentially refinance, pull some money out, and completely deck out the rest of the 34 units. That is something we're working on actively right now. And we met our lender actually in Florida from a real estate event, which really just shows it is important to go to events. You're going to get unexpected byproducts out of these events, which is usually a relationship with someone who can get you something that other people can't. And that is something that we actually got out of our Florida trip to go see Grant Cardone.
Yeah, which is why it's so important to network and get in front of new people. We go to all sorts of events, and it's not always to— we don't always know what we're doing. Like, there's no agenda. It's just, I want to go here. I know we're going to learn something. We're going to be in the room with people who are active in the field. We ended up just going out to dinner after the event and just happened to run into this person we asked them to join us for dinner and the whole relationship evolved. And he thinks he can really accelerate our project on the 38 this year. We'll find out more this week, but get out there, meet people. That's one of the best things you can do is just be present in the space.
And then other than that, for 2022, you're looking at a new year. Don't just write down goals for financially, write down what that gets you. A lot of people write down, oh, I want to have 50 apartment units or I want to have $10,000 a month. But that's the byproduct of doing what you really need to do to get there. But the reason why is more important. Someone asked me my goal and I thought about it, and my goal for 2022 is to retire my mom. I want to be able to pay for her mortgage. And so now I have to work backwards from that and do the math, and I have to get to $10,000 a month positive cash flow. And to do that, I just have to stabilize my existence. Start paying down some debts. But I just get my portfolio stabilized and now I can actually do what the real estate is for. Everyone loves to flaunt unit count and cash flow. What's it actually for? What does it allow you to do? So I encourage you when you're writing down your goals and thinking about what you want to do for this year, what's actually significant? Yeah, your past, what's gotten you here is great and your targets are phenomenal, but why does it matter? Because that's going to keep you more driven than writing out some goal of I'm going to get to 10 apartment units, or I'm going to get to 100 apartment units. Because the apartment units don't matter if they don't actually accomplish your goal. If you just want to have 10 single-family houses, great. Why? What does it actually allow you to do that is different than buying a 10-plex? What does that actually allow you to do that fulfills who you are and what you want to do? If you write out the significance behind your target, what is it actually for, your odds are higher that you're actually gonna go achieve that target 'cause it means more to you and you start buying into who you are and you don't get burned out.
Mm-hmm, and that's the big thing. Any goal that you're, since we're at the beginning of the year, I mean, we've sat down and with all of our teams among everything we're doing, we've sat down and are actively setting out what are our objectives for Q1, Q2, throughout the whole year. One of the first things you need to do is remember, okay, we're gonna set the goal, we're gonna set a defined timeline, and we need to know the reason why or you will not accomplish it.
This year.
So if you are in the goal-setting season, that's awesome. Set them, put your timeline in, and I think the most important part is to find that significance. If you have a big enough why, you're gonna make it happen.
Yeah, so that, that's it for today. Just as far as kicking off 2022, we wanted to give you an update, let you know what to expect moving forward. I just got over COVID. Christian's back in the country now, and we are reset for 2022, and we hope you are too. So If you're still watching this video, let us know what you think in the comments. Write down your goal and why it actually matters to you, and let's go achieve it together.
