Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

When To Renegotiate Partnerships

31 Jul 2024 · 0 min

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Christian Osgood and his partner Cody hit 100 units, then realized Cody hated property management. They swapped equity: Cody gave back his stake in the original 6-plex, Osgood transferred company equity to Cody. The trade realigned their roles and killed the tension.

Renegotiate nothing until you hit whatever goal your partnership set out. After we hit 100 units, Cody and I had a conversation. We looked at the pieces. Turns out he didn't love doing the property management side anyway. He said, hey, would you take the business and I will get the equity that you have in my original 6-plex? You give that back to me, I'll give you my equity in the company. All we did was a simple equity swap. All of a sudden, the partnership was fixed. There's no more tension, there's no more dissonance. We have a partnership that is well aligned. We hit our goal.