Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Just Got Permission For a Daycare

31 Jul 2026 · 1 min

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1:09

Christian Osgood got city approval to reopen a daycare in a building he bought cheap because it was infested with bed bugs and had no tenants. After six months of repairs, occupancy hit 95% and he projects $6 million in payouts over five years.

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We did it! 4 months in, we just got permission for this building behind me, which used to be a daycare, to be— wait for it— a daycare. 3 city council meetings, 4 months for this building that was built to be a daycare, that was operated as a daycare for 20 years, to be a daycare. Now, we didn't get any pushback on the idea, but this is the problem with bureaucracy. That being said, this was down. It was factored into my price that this had no revenue. We had a bunch of units in here that needed to be turned badly. We had a bunch of tenants who were just absolutely trashing it. We had some bed bug problems. Otherwise beautiful campus, but there were some individual problems that made the price for this building incredible. Here we are 6 months later, we got our approval finally from the city to reopen the daycare, the basketball courts open again, we got the gym back up and running, and we are back above 95% occupancy. This deal will make millions of dollars. While it is hard work, we didn't work anywhere near as many hours as a normal person would in their 9 to 5. Total payout on this is going to be about $6 million when we're done with the project. Over the course of 5 years, we'll probably do about half of the work of someone's full-time job. If you think that is a good trade, you should buy bigger apartments. Skip single family, skip the duplexes. You can go straight to this if you know how.