Christian Osgood tours a 36-unit student housing building and explains how he's pairing it with a separate 32-unit deal using seller financing to potentially buy with zero or low money down. He's expanding into student housing after seeing the opportunity in this market.
Chapters
So I bought hundreds of multifamily units, haven't done student housing yet. I'm walking to student housing deals today, and I'm actually noticing a lot of them are mixed student housing in general, which is great. So we have like basic rentals and we have some student housing. This is a 36-unit building, by the way, all one beds. Condition really good. Uh, there's a lot of things that are cheaper fixes that I'm noticing here or there, but generally speaking, clean walkways, clean apartment. While the fixes that I'm seeing here and there are cheaper, they're done, which shows me that there is management. They have been upkept. I've got to walk through a couple of units. They're really nice. This is seller financeable as long as we buy the other deal in cash. So we have a traditional bank debt deal that we're looking to put together, and because we're doing that— and that one's 32 units, I believe— we would be able to do this one seller finance, potentially zero or very low down. Interesting deal, interesting structure. Love the town, really liking the building.