Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Keep your ship steady and it will stay on course!!

3 Oct 2024 · 1 min

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Christian Osgood's 24-unit building flooded in a historic freeze, destroying 19 units with insurance falling short. Instead of panicking, he focused only on what he could control, adjusted operations, and walked away from the deal with a profit.

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We've dealt with massive drug problems, massive crime problems. I've had a building, 24 units, 19 of them flooded in a freeze. We had the coldest winter we've had in 50 years. Even with the heaters on and water dripping and all the stuff that you do to prevent it, I had an absolute loss of property. We followed these steps and I was actually able to roll out of that profitably on the deal. I actually made money on a deal where we had total loss of property and insurance didn't cover it, but we were able to get through it because instead of freezing or panicking or holding stress, we stayed calm and we addressed everything on what can we do today, what can we influence, and what things are out of our control, by choosing not to stress on those and focusing on other pieces of the business, we were able to navigate our way through this and adjust pieces.