Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

The POONIT has arrived #realestate #slumlord #landlord #multifamily #creativefinance

3 Jun 2025 · 1 min

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In this video Christian Osgood introduces a renovation project he calls the "Punit," a 2‑bedroom unit within a seller‑financed 12‑plex located in Ephrata, Washington. He explains that the unit was in severe disrepair, covered in cat feces and urine, with rotting floors, bugs, and a general hazmat condition. Osgood secured the property with a creative financing deal—4% interest over five years and a roughly $250,000 discount. He outlines the extensive remediation and upgrades planned: removing contaminated flooring, installing new doors, flooring, cabinets, windows, appliances, and a range. Despite the grim starting point, he expresses enthusiasm for the project, framing it as an example of buying "slums" and transforming them into quality housing in a desirable area.

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We call this unit the Punit. This unit was absolutely covered in cat feces and cat pee. It was disgusting. It was a full hazmat thing. We had to rip out the floors. This is a seller-financed 12-plex. We got it 4% interest, 5-year debt product. Got it for like a quarter million dollar discount. However, the actual unit was disgusting. The cabinets were gross, the bedrooms were gross, the walls were gross, the floors were rotting, it reeked, there were bugs. Uh, this was nasty. When I talk about buying slums and making them nice places to live, this is what we're working on. We're putting on brand new doors, we have new flooring in, the Cabinets are in. It's a small 2-bed unit, but it's in a fantastic area of Ephrata, Washington. But check this thing out. This is the type of project I love doing. It's a simple reno, easy to maintain, brand new windows, appliances, range, whole nine yards. This thing's gonna be wonderful.