Stop Investing in Houses!!!! - How Chris Jordan is Scaling in Multifamily Apartments

Hello and welcome back to The Owner Meeting Podcast. I'm Christian Osgood, your channel host. Today I'm joined with a friend, Chris Jordan. He started out in single family. He just closed yet another multifamily deal. We're going to hear about how he found it, how he put it together, how it's going. But super exciting to have you on the podcast, Chris. How's it going, man?

Good, man. How about you?

Very good. Now, recently we had Phil on the podcast. He just bought a property in Pennsylvania, and I learned on that podcast that while you guys both closed deals in the same month, you guys have both also met up. You guys connected in California. How weird was it seeing that Phil is like almost 7 feet tall?

I was shocked. I met him in the parking lot at the, at the yacht club and when—

Fancy.

Because I was looking up at him and he was massive. He was massive. He was like 6'7". I have a picture of him and I next to each other and it's like this.

I'm pretty sure that he towers above literally everyone but maybe Shaq. Like he is a tall, tall, tall dude. Well, it's super fun to have you on a podcast. While neither of us are Olympic sailors, I would love to hear some of your background. I know you started out And you started out in single family, didn't you?

I did. I did. I started purchasing out in Oklahoma City. I started going out there for work and noticing that the prices of homes were very affordable. This was pre-crash. Prices were too high relative to my income where I was living in San Diego. So I decided to not know what I was doing. I just took a shot and I bought a house and it was cash flowing a few bucks. And that's how I got started.

Awesome. What year was that that you got started in the single family out in OKC?

That must have been '08 or so.

Okay. So you've been in that market a little while. How many houses did you end up buying in that market? Was it just that one rental or how far did you get in the single-family game?

I ended up buying 3 out there.

Excellent. And when you were first buying single-family, what was the, what was roughly, what was an average deal looking like at the time for you? If you're buying single-family house, bed-bath count, pricing, how much do they cash flow going into that single-family business? What did that look like for the first 3 transactions?

But the first transaction, I bought that for $99,000.

Not bad.

Not bad at all. It was in the town of Norman, just south of Oklahoma City by the University of Oklahoma, built in 1994. So it wasn't that old, brick facade. Like I said, I didn't know what I was doing with that. It was my first introduction into anything real estate. They actually let me buy that thing with no money down. Pre-crash, pre-Dodd-Frank, there wasn't a lot of strict lending rules. So I didn't put anything in it and I was cash flowing maybe $50, but it was paying the bills. And just that alone was, I was happy with that. And then I just moved forward from there.

So you bought it $0 down. It wasn't a lot of cash flow, but you were at least getting paid to own it. I'm imagining today that that's worth more than $99.

Yes, it is probably $220,000, $215,000, $220,000.

So investment of $0, you're taking in about $100,000. Yeah, roughly it's $100,000 a day. You bought it for like $100,000. It's worth more than double that today. Do you still hold that today?

I do. I actually have it listed right now.

Really?

Yeah, I do. And because of my interactions with you guys and the mentorship and the peers, I'm going to be rolling that into another multifamily hopefully soon.

Very exciting. You started in 2000, right? You know, right around 2008 and you took the opportunity there to invest in OKC. That's proven to be a high-growth market. All the way through since then. Still a lot of business coming in, very, very strong. How's it like being a landlord out there? Is it okay? Are they fairly landlord-friendly like Texas is, or what's it like investing in Oklahoma?

They are fairly landlord-friendly. They've kind of chipped away at that in recent years, but compared to, you know, Washington, Oregon, some of these other states, it is still super landlord-friendly. Evictions are easier, so it's definitely a good market for that.

Awesome. Now, when was the, when was the first multifamily deal for you out there?

So the first multifamily deal was just recently. We were trying to close that back in December of last year and we finally closed it in, I believe, March of this year. And that was that sixplex. That was my first multifamily.

So December to March is when you were originally trying to close it. So how long were you under contract for that thing?

It was, I think it was about 3.5 months or so. We hit some some setbacks with lending, some different issues. So it took a bit to close it.

I want to hear a little bit about this process. First, everyone always asks me to ask more questions about this. I want to make sure we cover this. You were already an investor in that market. You had some single-family. How did this deal actually come up? How did you originally find this opportunity in Oklahoma?

So I was, I've been searching for multifamily and I was looking to start between 5 and 10 units ideally. That's where my comfort level was to make that jump. And I saw this, I saw several of that I had on my list on the market, but I was also reaching out to various people in Facebook groups and different groups online. And I connected with somebody out there that was looking at the same property. In fact, he had just put it under contract. So I was like, oh, I was looking at that one as well. And he was looking for a partner. I'm like, perfect. I'm interested. So him and I got together and we worked it together from that point forward and eventually closed on it in March.

What a fun way to find a deal. How was the— was the financing on that? Was that conventionally financed? Was that seller financed? What was the debt portion of this deal?

So it was conventionally financed. We did a 75% LTV. It was just a local bank out there. It's that bank out of Tulsa, actually, is what we went with.

That's a good way to do it too. If you can find a bank that's fairly local, you typically get the easiest underwrite, and oftentimes you get the best terms or loan-to-values. Now, you mentioned this was a really long one to close. What snags did you experience through, uh, through going through this transaction, getting that conventional financing?

So the big one was the seller had some relationship with a bank. I'm not sure exactly what that relationship was, but he was very interested in us using that particular institution, and we went down that route. And at the end, it just didn't meet their criteria. So we kind of wasted that whole time with that lender and then had to start over to find another lender, do another appraisal. We had to go through the whole process again. And there's just a lot of—

Why was the seller partial to that particular bank? That's kind of odd that the seller would care where the money's coming from as far as the lender.

Yeah, I'm not exactly sure. My partner dealt with more of that side. I think maybe he had some interest in that in some way, like an interest in that bank or something, that lender. I'm not exactly sure.

Okay. Now when you're partnering on a deal, what did each partner bring to this deal? That's something I'm always very curious on deals. So he was dealing with a lot of the bank and lending. Side. When you guys came together, he has it under contract. What did each of you guys put together in your operating agreement for how this partnership's going to be run?

So very, very simple structure. I brought half the capital and he brought half the capital.

I like that ownership. Does that reflect that 50/50 partnership?

Yes.

Awesome.

Yes.

So you guys bring half the money. He's running the bank side. What things do you bring outside? So you guys both bring half the capital. What else does everyone bring to the table as far as roles and responsibilities?

So he's going to be managing the day-to-day because he's boots on the ground in Oklahoma City.

Very valuable.

That made sense. The rest, the rest of the roles are basically high-level decision-making, routine meetings, just decisions on projects, voting on stuff, just basically overall high-level management, not the day-to-day stuff. That would be more of his responsibility. He's also managing it as well at this point. So at some point it'll be a management fee that's going to be paid from the entity to his management company as well. Sort of what like what you do.

Perfect. And I was going to say, that's a really good way to do that. When I started in real estate, I ended up doing most of the management tasks, but we'd never worked out any sort of management fee. So I ended up doing equal contributions to some of my partners on deals where I put in money. I'd do an equal contribution, but I'd end up doing 90% of the work. And what ended up happening is I didn't get compensated for it. And anything, anytime anything didn't go to plan, everyone's frustrated with me and I'm the one doing all the work. So I got the worst deal. And when stuff goes right, everyone goes like, good, we expected it to go right. And anytime there's a snag or something that gets renovated or a unit has a more expensive turn, people got frustrated with me. I'm like, wait a second, I get all of the negative and I have to do all the work. What a horrible deal. It's good that you guys addressed that early in the thing is, is, hey, if you're going to be boots on the ground and you're putting in more hours to this project, you either can compensate that with equity or with cash flow. And it looks like you guys doing a simple management fee for the work done. That is a great way to have a sustainable partnership where everyone's happy and the compensation matches the work done. That, that's awesome. I'm glad you guys figured that out on the front end.

Yeah, definitely. Because it, it is more work on his end. He's, he's dealing with the day-to-day. There's a lot of big improvements we need to do before we get to that point. You know, some foundation repair, roof repair for us. So we're well underway on that. Hopefully we get closer to stabilization and, and be able to, you know, compensate him fully at that point.

Yeah. So let's, let's talk about the, let's talk about the project itself. What price did you, it was 6 units, right?

6 units.

6 units. What price did you guys pay for that?

$350K.

That does not suck. Okay, so you got a great— you got a great upfront price. How much reno budget do you guys have allocated for this?

So we re-budgeted about $35K, I believe it was. We're quickly burning through that right now.

That is easy to do. How much is that roof going to cost you? You said there's a roof repair. Is it a new roof? Is it a patch? What are you guys doing?

We're going to do— we did a whole new roof, and I believe it was about $7K. So they, we found a great deal on it.

God bless Oklahoma. That is not the cost to replace a roof in Washington State. I'll tell you that for sure.

Yep. I replaced the roof on my single family that I own out there that I have listed, and I wish I would've went with this other guy because I paid $12K for that roof.

So, well, that's an incredibly, oh, is this a specifically a roofer or is this a general contractor?

I believe this is specifically a roofer.

Okay. I was gonna say if he, if he does other stuff and he does a good job, use him for everything. What amazing pricing.

That's a, Right, right.

Excellent. So you're getting the roof done. What other projects are needed to get this thing up to, up to par?

So foundation, that's the big one. I needed a lot of foundation repair, new joists underneath. We needed to jack up the, the, the building is made, the property's made up of two separate structures. One is a, that's 4 units and the other one has 2 units. So the one with 4 needed to be jacked up several inches. So we had to, we had to jack that up, replace the underside. Of course that messed up some doors and some framing. So we had, we had to address that as well. And that ate up a bigger budget than we had anticipated.

So overall, do you guys think that you're going to end up going a little bit over budget and have to do a contribution, or do you think you're going to be able to slide in with that, that $35K? Do you think you'll be able to pull it off?

I don't think we're going to be able to pull it off. We're probably going to have to get some kind of line of credit against the LLC to finish up some of these projects and just pay it down out of cash flow. But so that's kind of a lesson learned there is to maybe raise a little bit more upfront. So our, our plan was to just get all the exterior stuff, the big stuff done, and then fix up the interiors as they turn. 'Cause they're in decent shape. There's a few safety issues that, you know, we need to address, but overall they were, they were fine. They were livable. So that was, that was the plan. The foundation stuff definitely, you know, revealed more of course than we anticipated.

So as you stabilize this, is the, what is the, what is the exit plan? Is it, is it going to be a long-term partnership? Does one person buy the other person out? Is the goal to refinance this at any point? I'm curious to say, you got into the deal, you'll have a few more expenses than anticipated, but it sounds like the projects are cruising along. What is the end goal for this partnership and this property?

So what we discussed was at year 5, we're just going to discuss what we're going to do, basically, whether we're going to sell it, refi out, what are we going to do with this thing? There's a lot of unknowns at this point because this is in an area called Stockyards that is improving. It's in the path of progress. So that might change our outlook for this property at year 3, year 4, depending on what's happening. If new developments come in nearby, we might pivot from there, but we have an agreement to just discuss it and what we're going to do. And we're both sort of even-keeled and flexible. So I feel like our personalities jive in this partnership. So definitely I'm comfortable with it.

That's a very important piece, knowing the personality of who you're dealing with. I don't like partnerships that don't have a defined end, but I do have a few partnerships that are structured just like that where it's like, hey, we know we love the deal. We know that this cash flow is really strong right now. We're flexible on whether one wants to buy the other out, how long we want to hold it. No one has a defined plan of how they need to exit, but we have multiple possible exits. And so you did exactly what I would do too. You put a timeline of, hey, this is our first partnership. I don't know that we want to be married. So let's put a 5-year review period on this of we're going to hit this point and let's discuss what we like, what we don't like, what needs to change. It's really important to put those benchmarks in the partnership relationship. You did a good job doing that.

Absolutely. And part of my goal with this too is, is building relationships. So it's a nice, perfect project to start on. It's not incredibly expensive. It's, it's a smaller multifamily. Things go well and, you know, we're working well together. We start looking for other stuff, which we're doing right now. Actually, we're looking at other, other multifamilies that could potentially purchase as well. So it was a nice—

and it's so nice to just knock it out with two people. Those small LLCs and a joint venture, That is, I recommend everyone starts there. If you're not buying them just by yourself, having just a few key partners and keeping those LLCs small, on a vast majority of your deals, there's going to be an easy transaction. It's easy to manage your partners. It is a really leisurely way that you can pick up an absolute ton of rentals.

Yes.

What is your, uh, what is the game plan for the different types of debt that you're looking at to get through the additional improvements? And are you looking at— I have a tendency on smaller renovations, if we have a high enough cash flow deal, to take the zero interest credit card. There's a lot of promotional cards through Amex and Chase, but depending on how much you're bringing in, what debt products are you looking at to find that additional capital? And how much more do you guys think you're going to need to put into this deal to get it to where you need it?

We actually, we actually talked about that. The maybe look into a 0% credit card just to get us through the finish line. That'll buy us, you know, 12 months, you know, even if it's 18% credit card takes 2 years, that averages out to what, 9% across 2 years? Yeah. So not, not not totally expensive. I think we're looking into a line of credit with the bank that, that holds the loan already. We're looking at, I think, about $18,000, just a line of credit to help us get us to that point.

Okay. And that's right in the sweet spot where it's usually easy to get additional debt. It's usually a simple loan mod or sometimes a bank will do second, but it's always good to call your existing lender and see if they want to just add to the loan balance. That's the easiest money you're ever going to get. And I do that with private lenders all the time too. On seller finance deals, you go back to the seller and say, hey, I have this project, I'm improving the collateral. Do you have any interest in being the lender on this? I recently got $150,000 to do a project. I was going to go through the bank, the lender. I have a loan at 4% interest. They're like, yeah, we're not doing anything else with the cash. Funny enough, my down payment on the deal was $160,000. So they basically just gave us back the down payment on the loan to fix up the building. Funny how things work. But yeah, going to the bank or the lender, whoever holds the note is the most obvious lender because they already lend on the property, right? Another option, I think you're right in that sweet spot. A lot of those cards, it's common to get a line of credit around $20,000. Typically going to be looking at the Chase Business Cash Back card. I forget which one they call that one specifically, but it has a promotion on it. Chase Bank is fantastic for that. And then the Amex Blue.

Yeah.

And usually I'll apply to both and one of them will give me like And it's variable, but one of them will offer me like $2,000 and one of them will offer me like $20,000. And I'm like, well, I'll take the $20,000. That's what I'm looking for. Thank you. And yeah, last I looked, the promotion for AMX, I think they're running a 15-month zero interest. But you nailed it on the head. The other thing that you can do is if you're like, hey, I can pay this back in a 2-year period, it's a blended rate of zero for the first year. And then even if it's higher interest, it's effectively very cheap debt. You just want to make sure, especially if you're doing this with a partner, that you have a partner who's also going to be equally responsible. I have had two LLCs where I had to eliminate my partner because we did renovate with credit card debt. They ended up going completely broke and they could not fix their spending problems. So we had cards that are pulling at like 22% interest that we had no reason to be paying. And eventually my options were, I'll pay off the card and you can pay your half to me at 12%, or I'm just going to buy you out of the LLC because I'm not going to have a partner who's just ripping debt against every asset we have.

So, right. Yeah.

Make sure you and your partner are completely aligned with the business plan and that you have it outlined at the very least in a recorded meeting with meeting minutes where you guys can write down, hey, we at some point agreed on a plan to do this. You can reference the plan. But I do like the idea and you're right in the sweet spot where it's really easy to get around $15,000 to $30,000 of debt. That's the sweet spot. If you need a little extra capital, there's a lot of options available.

Yeah. Yeah. That's a good idea.

Well, good lesson learned there. And so was it— it really just came down to the bank financing that had all the delays? Were there any other major red flags to this deal or something that took so long to get the deal to close?

Really? I mean, it was a distressed property, I'd say. I mean, there's— I don't know if distressed, that's a bit of a strong word. It was a lot of deferred maintenance, a lot. But, you know, we went through all that with due diligence, through the inspections. We had different trades go out there and look stuff, so we kind of knew what we were getting into. It was mainly the backend stuff of it, the financing and everything.

Well, you're going to be all in on this, and I've looked at the OKC market quite a bit because that's a very easy drive from Dallas. You're a market that's within an easy striking distance of where I invest. It's a strong market. That's an excellent price for the amount that you're putting in for rental. Even if it's going to be closer to $50,000 than your original $35,000, you're coming in at an awesome basis in that deal.

Yeah. Definitely.

What does cash flow look like today and what is it going to look like in a couple years?

So cash flow was close to 8% on day one is what we calculated.

Strong, solid, solid numbers.

Yeah. The area is not the greatest, so we're hoping to bump rents up, but it's a very conservative, conservative bump in rents over time. So it's one of those deals that we talk like, I like to consider like, hey, that's a solid base hit, solid double. It gets me in, get to partner with somebody, and get to learn a lot along the way. And it was just a nice entry point for me with good growth, good cash flow day one. So yeah, it was perfect for me.

It's fun to see. And that happened to be a month where a lot of people in Multifamily Strategy happened to buy their first deals. So it was fun for you, Phil, or just a couple of examples, but that was a month where it felt like every other day someone's like, "Hey, I closed a building." I was like, "Geez, this is the best month ever." When you keep the mentorship to 50 people and you get like 13 people buying a deal, it's like that's a really high percentage for one month for everyone knocking out of the park. That was a fun, a really fun month to see all these go through. How does it feel just momentum-wise in that market now that you've bought a few single families, you've proven to yourself you can partner, do multifamily, how do you feel confidence-wise compared to when you started when you're talking to brokers and owners in that?

I feel I feel a lot more confident now with stuff just because this is something I would not even consider a couple years ago, looking at multifamily buildings. So my brain was just in the, in the single family or maybe a 2 to 4 unit space residential loans. I just didn't know the process or how it worked. And it's not as scary as I thought. So yeah, I'm, I'm already looking at other buildings. We're looking at a 14-plex right now, also in Oklahoma City. In fact, we have the walkthrough today and probably an offer tonight or early tomorrow morning on that property.

So, oh, no way. If you want to be super kind to Christian, take a video of that walkthrough and I'll plug that right into— I'll plug that right into this video. Take a look at what you're, what you're buying today. Don't put the address on it. Of course, you're going to go under contract, but I would love to, would love to see footage of how that walkthrough goes. If you, if you think of it, pull out your phone and take, take 8 seconds or so of just, hey, this is what we're looking at. That'd be really fun to take a look at that building and what you're doing today. But you're buying a 14-unit. In your experience, so you bought plenty of single-family in this market, easier or harder to close on a multifamily deal? For your sample size of 1, how did this compare to buying single-family?

You know, there wasn't that much of a difference really. I didn't think it was. It was almost the same, a few more other pieces, but in all it was relatively the same. I would say it wasn't like 3 times as hard or anything like that.

And you bought twice as much as you'd bought in that market over— how many years did it take you to acquire the 3 units, by the way, in Oklahoma? The 3 single families?

So I have been sort of a sporadic investor. I buy a family, single family, and then I wouldn't do anything for a few years. After the market crashed, I 100% focused on buying my primary residence here in San Diego. So that was all my energy there. And we bought a few other properties here where I'm living in San Diego during that timeframe. And then I—

Very, very wise, by the way, buying high appreciation markets in a down market, scoop up what you can.

Everything was 40% off. So I was like, hey, I gotta try that. Bye-bye, bye-bye, bye-bye.

You did a good job.

Yeah. So we bought a condo. It was, you know, bought a house. We bought this other property. But I turned my sights back to Oklahoma City in like 2018 or so and bought some property, a single family. But we hear people talk about this all the time. You're in single family and something happens and you just erase the whole year's worth of cash flow. Cash flow on one maintenance, like a plumbing issue, for instance. That actually happened on one of my properties. I had a lateral line that connected from the house to the street, the sewer. It failed. It had to be dug up, replaced. That pretty much wiped out all my cash flow for the year. So I'm definitely looking and transitioning out of those single families into, into some other stuff, multifamily.

What I found— I built my whole career off of meeting owners, and that's the point of this podcast, by the way, is meeting with owners of real estate and the businesses that you— I want to do the owner meeting for you guys. So if you're listening right now on this podcast and you're like, wow, I can absolutely do this. That's the goal. If you don't have time to do the owner meeting, you can listen to my owner meeting while you're doing the drive. Chris is someone who's actually played the game. When I meet with people who have the 75 single-family units, without fail, that meeting, I'm like, what's it like owning these? Like, oh, I can't wait to get rid of them. When you have a huge single-family portfolio, they're hard to manage. Someone moves out, you wipe out the cash flow. It's a lot harder to play the game, in my experience, to manage one roof per family. But if you can buy the 6-plex, the 14-plex, the 20-unit building, it becomes so much easier to scale. You can afford property management on a 14-unit. When you live in San Diego, it's worth taking the flight out for 14 units. You delete a bunch of your cash flow flying to see the house.

Yeah.

On a single-family unit, it's like, it's like you can't just travel out twice a year because like, oh, that's 2 months rent to go visit my property.

Yeah. And then that's, you know, that's 14 different transactions versus one transaction on one multifamily building. So think about the, the, the pain and the, just the rigmarole of going through a transaction 14 times versus one time on one building.

Most deals I've ever done in a year is 5, and that's leisurely. I mean, that's when, when your main job is buying real estate and you're like, I, I only have to do my job 5 times a year. That's pretty good. It is a, it is a much simpler business. My encouragement for everyone, it's, if you're following Chris's journey, it went from 1s to a 6. 6 was not 6 times harder than a 1. It wasn't even twice as hard. Now you're looking at a 14. That's the type of stuff that I like to see. Super excited that you're doing all these walkthroughs and I, I'm, I'm excited to see the deal. If you happen to get that footage, I would, I would love to add that to this video. So hopefully I'll see a quick clip from you doing a walkthrough.

I, I'll ask, I have a couple of guys and a friend doing a walkthrough for me. It's awesome. Take some video and send it to me and then we get, accepted and further along in inspections, I'm actually going to fly out there. I'll definitely take some footage at that point.

Oh, that's amazing. Well, I'm super excited about that 14-unit. Exciting to see what you can do in one market from out of state. So many people in our group, they happen to be people from San Diego almost every time. You're doing my favorite strategy. You've bought some deals in your backyard. You're not not buying in San Diego, but you're focusing in a market that is a little easier to scale in. And so you have the best of both worlds. You're in a competitive, high appreciation, but difficult market. And then you're really scaling your business in a higher cash flow market at the same time. Having that dual-pronged approach is awesome. I've also found capital raising's easier because there's a lot of people in San Diego who also want to invest out of state. So as you meet more and more people in that area, the money all becomes easier as well. Californians are famous for investing literally everywhere else. So I love the strategy. My last question for you here, in your years of real estate investing, as you've been scaling up, I love learning from the wins. We also love talking about the stupid tax. What is the most expensive mistake or lesson that you have learned thus far in real estate in your time? I've shared all the time, mine's jumping into hospitality too early when it wasn't my business. That was a million-dollar mistake for Christian Osgood.

Yeah.

What has been the highest, what's been the most expensive lesson you've learned along the journey?

So I would have to say it is, you know, I get caught up sometimes in the emotional part of it. I'm originally from Washington, like you are.

Yeah.

Kitsap County, Bremerton area. Mm-hmm. So I, I own some land out there and my parents live out there. I decided to build a house on one of the lots that we had close to my parents' house. And man, I don't think I would develop again. I cleared the land, graded it. I had the GC basically everything up until the point where the builder would take over and actually build the structure, but foundation digout. Plumbing, electrical, septic, all that was me. And it just, it took up a lot of time. A lot of capital was at play, no revenue coming in that whole time. So it took probably, it was a 2-year journey where I put everything on pause to focus on this build-out. So I would say I would probably would have reversed the order a little bit. I would've focused more on acquiring cash-flowing properties first and then tackle that later when I had a little bit more flexibility, more capital, more cash flow, more, more comfortable with my financial position. So I feel like I did it too early.

That's exactly how I felt about my mistake with hospitality. I have a luxury item that does make money, but it's— it was a ton of work because I hadn't earned luxury items yet. Figuring out a resort, that would have been cool to buy today and start figuring out today. Buying it when I did not have the wherewithal to own that big of an asset with that much variable income. Really painful. The best developer I've ever seen, he waited until he paid off his first 40 rentals. He had a little 40-unit portfolio with no debt on it. He was like, you know what, I can afford my holding costs now. And he started developing and he made tens of millions of dollars developing, but he set his base first in cash flow. I think that's a great lesson. Start with cash flow, start with income. That buys you stability. And with that stability, you can get into projects that are more variable or have a different risk profile. But I've never found anything more consistent than entry-level to middle-market residential multifamily. People need housing, people need entry-level housing. Find areas where it makes sense, pick up all the buildings. Your income will be so unbelievably predictable. I love the business model. That's a fantastic lesson.

Yeah, absolutely. To this day, I think about the opportunity cost of that time period of focusing on that buildout versus acquiring assets. But, you know, It's done is done. Lessons learned, move on.

There we go. Well, ladies and gentlemen, that is, that is Chris Jordan. It's been a privilege to get to work alongside of you. It's been a privilege to get to see some of these projects coming together. I'm hoping for some great news on that 14 units. Having 20 multifamily units in that market, that's a really good number to hit. So that's going to feel good when you pick up a little bigger building. I'm very much hoping that this inspection goes, or this walkthrough goes the way that you hope it does.

By the way, This will be my first time raising capital. So if I get accepted offer, I'm going to be looking to raise $100K. So it'd be a first for me to try to raise capital. So I didn't raise any capital for the 6-plex.

So there we go.

See how that goes.

What you're about to find out is that you have, you have a deal that makes a lot of money. You're not going to be the only person who wants to make money in real estate. So if, if people want to look into the deals that you're doing and they want to connect with you, perhaps even want to work with you on a 14-unit that may or may not be coming up. How would someone get in contact with you?

I guess email, or I'm @chrisjordan360 on Instagram. I don't post a lot of my stuff. I need to get better about that. But yeah, that's my— that's so you can contact me.

There we go. @chrisjordan360 on IG. Drop him a DM, figure out what's up. If you want to get involved in OKC, this is a guy who is actively doing deals and knocking it out of the park. Chris, happy to have you on. Everyone else, I'll see you on the next episode.