Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

THE WORST DEAL We’ve Ever Bought??

19 Oct 2023 · 1 min

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0:32

The speaker bought a fully financed tiny home with no down payment, but it was too small to cover necessary repairs. After a year of sitting unused, they returned it to the seller. The lesson: chase deals that fit your business and interests, not just any opportunity that looks profitable.

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Worst deal we ever bought. It's the only asset that we've ever got rid of. We bought a tiny home and it was zero down, like actually 100% financed. We didn't put a dime out of pocket. We had super low payments. Problem is the project was so small we never got to the basic repairs to actually get the thing rented. We just parked a tiny home for like a year and then gave it back to the seller. Now he was thrilled. He sold it to another friend. Everything worked out in the end. We didn't pay a whole lot of money, but waste of time. When you're choosing your projects, make sure it's the project that you want to do, not just a tiny little project that could make some money. Do the things that you want to do and build the business that you want to build.