Christian Osgood bought 225 multifamily units in Abilene, Texas in three months using his Deal-Debt-Equity framework: find the deal first, then secure agency financing around 5.2% and fill equity gaps with investor partners. He shares the exact outreach scripts and operational tactics he used to scale from zero to a major portfolio.
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I'm Christian Osgood. This is Multifamily Strategy, and you are at my 144-unit campus. We closed this recently. I'm going to show you this building and another 80 units we picked up down the street. In this video, I'm going to show you you can take over any market in the country. 3 months ago, I had 0 rentals in this town. Today, 225 units. I'll show you all of them and how you can do the same thing yourself. Follow me. So I actually started my career in Washington State. I'm originally from Seattle, and we did this in a town called Moses Lake. I had owned a couple of duplexes, wanted to get into bigger multifamily, had no idea how. I learned about creative finance, and around the time I was hearing about seller finance, I found a 38-unit building with my friend Cody. Now, long story short, we took out that 38-unit, and then we took out a 12, a 10, a 7, 3 side-by-side duplexes, a bunch of triplexes. We built over a 100-unit portfolio specifically in Grant County, Washington, which was unbelievably powerful for us. Fast forward a few years later, I moved to Texas, retired my wife from teaching, and in Stephenville, Texas, over the course of 2 years, built a 186-unit portfolio. Today, we did the same thing in Abilene, Texas. As we practice this, we get to go better, bigger, and faster. I'm going to show you how to do the exact same thing here. So how do you find deals like this? Well, when you're starting in a new market, I love talking direct with owners, but it's usually going to be a broker that brings you into the new market. We've been looking at deals for about 6 months. And we found this 144-unit. We purchased this for $8.5 million. Now, if you're doing the math, that is a very low cost for a building that looks like this. This campus is 22 acres. The apartments here are absolutely gorgeous. This is a fantastic condition. When we saw this deal come up, this was the first deal where I saw and I said, hey, I have to figure out a way to own this. Now, we follow that model that I share on this channel all the time, DDE. The deal debt equity structure. So we start with the deal first. For context, I did not have the money, I did not have the net worth. $8.5 million is still out of my strike range. But what I did is I started with the opportunity. I love the price, I love the location, I love the building. Let's put it under contract. Now we line up the debt. Now when I started, I thought you had to seller finance everything, but if you always open with seller financing, not every deal is purchasable that way. We actually got conventional bank financing. I didn't have the money, I didn't have the net worth. There's an argument that I lack the experience to take on a property this large. So how do we do this? First, we get the property under contract, then we look for the best debt product. Once we have the deal and the debt, which we ended up going direct to Fannie Freddie, so we have agency debt on this, 5.2-something percent interest rate. Now we find the missing pieces. So what was I missing? Net worth, cash to close. I then just built the team with people who had the net worth and the cash to close, and we closed the deal. Anyone can do this. When I started in Central Washington, I was a W-2 employee with a couple of duplexes. I had no idea how to raise capital. I didn't use friends or family. I wasn't independently wealthy myself. I did it because I had an opportunity. Imagine it this way: you're going to a car dealership to buy a car. You go to the sales rep. Hey, I'd like to buy a car. Awesome, we don't have anything on the lot right now, but I have amazing cars. Okay, um, am I able to get this in red? I don't know, we'll see what colors come in. Okay, what am I looking at for down payment? It will depend on the car. If you don't have a product, how are you going to raise capital? Everyone gets stuck on this idea of where's the money coming from. It's going to come from the opportunity. There is not a lack of people who have the money, have the credentials, have the experience. There is a lack of people who have the opportunity in the target market. People aren't opposed to making money in real estate, but that is what everyone is most worried about. So what I did is figure out— what I did is craft the model backwards. Instead of find the money, get a lender interested, then find a deal that matches that, we find an opportunity and then the rest of the pieces fall into place. In Abilene, Texas, we found this deal through a broker. We reached out and we called, we called, we called. I actually have a script that you guys can follow on YouTube. You guys look at the video, I'll link it below on the actual scripts that I used to land this deal. And as soon as you go under contract for a deal, you call every owner and every broker within a 2-mile radius and you just let them know, hello, I'm going to be your new property neighbor. People understand this. When you enter a brand new market, everyone wants to know who the new player is. Booking those next meetings are really easy, which is how I booked the appointment for the next deal that I'm going to show you right now. It's right down the street. It's 81 units, 6 blocks away. This is now my largest market. And in December, which was 3 months from when I'm filming this, we didn't have a single rental in this market. So we are on the way to one of my favorite properties now in my entire portfolio. This is another 81 doors, 55+. Now, historically for me, I bought a 55+ community, not assisted living specifically, but 55+. These properties stay 100% occupied almost all the time. Currently, we have 1 vacancy out of 81 units at this building, my 44-unit, it's the exact same thing, 100% occupied with a waitlist. Huge demand. And if you're looking at affordable housing like we're doing today in Section 8, most of these are just normal everyday people on fixed income and they know how to be tenants because frankly, they're older than you are most of the time, unless you're watching this and you're over 60 years old. Also convenient, it's 1 minute away. We're 6 blocks away. This is how I like to buy real estate. If you're going to buy in one area, buy the whole neighborhood. As we continue to take out Abilene, We're going to be doing properties exactly like this the entire time. Bigger deals more consistently, just go one by one by one. And here we are in Anson Park Senior. Let's check it out. And welcome to Anson Park Senior. Follow me. So in here we have the main lobby. This is my favorite of every office that we have ever had come with a property. So come through. We actually had this thing completely furnished. This space is the standard that I like to see. This place is absolutely awesome, it's beautiful, and tenants get to use this as a common area. So when you rent, you get a big unit, a very nice place. And again, a vast majority of our money for this property comes in directly from Section 8. Comes with a kitchen just like this. It's the simple little things of the property that really elevates the tenant experience. None of this cost a whole lot, but just the little things— put a nicer bowl in the middle of the table, have some personality, it goes a long way. If you're a tenant who's used to paying lower rent, you're just— amenities that cost almost nothing. But when you care about the tenants, you actually keep the tenants longer. Now, one of the first projects that we actually did in this property, this was a really cool lounge space. So we had like beautiful couches, beautiful tables. We run events in here. This is another bookable space. But when I'm talking about just high quality, how do you maximize what you have to give your tenants the ultimate tenant experience? If you've seen the crappy beat-up houses, or you've seen the ads for people like, hey, I look for $30,000 houses in the middle of nowhere. That's not how you actually play the game. I would make the argument that you can make more money with more rent checks more consistently buying a property this size. My last housing check for this property was about $60,000, which isn't too bad. So what's so amazing about this Section 8 strategy when you combine it with multifamily correctly is you get to provide mass housing to mass people. With just one of these two transactions, you could retire yourself from your W-2. I did two of these in a 90-day period using none of my own capital, none of my own credentials. We were able to own buildings like this. You keep a clean campus, you keep a beautiful campus, you're going to keep tenants forever. Ultimately, If your buildings look like this here, you will make a lot of money owning buildings that are actually fun to share with you like I am here on YouTube. I'm not in front of a dumpy house with my dirt poor tenants. They're not drug dealers. There's not money problems. These are normal people living in a beautiful space who happen to make a little less than the average median income. If you want to do this for yourself, I share how to buy properties like this in any market— red state, blue state, big city, small city. All you have to do is like and follow this channel. Or if you want to join a free community community that is all about doing deals like this. Join us on Skool. The link is below. Skool, Multifamily Strategy Community. Thousands of investors all over the country buying deals just like this. You can too. I'll see you there. Thanks for watching.
