Latest / Financial Survival Network / From 2 Units to Hundreds: Building an Empire Before His 1st Child Was Born - Christian Osgood #6129

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From 2 Units to Hundreds: Building an Empire Before His 1st Child Was Born - Christian Osgood #6129 · Financial Survival Network

• 0:00
  Speaker 1: Then all you have to do is just figure out
• 0:02
  Speaker 1: the last little bit I found to keep it in
• 0:04
  Speaker 1: that order. That's the psychological difference between being able to
• 0:07
  Speaker 1: buy a little bit of real estate or build a
• 0:10
  Speaker 1: dollar by dollar, or just go like, Okay, let's find
• 0:13
  Speaker 1: the opportunity first and tailor the money to it. And
• 0:15
  Speaker 1: all of a sudden, the Papa raised it became very
• 0:17
  Speaker 1: easy sell. Our financing became pretty intuitive, just because we
• 0:20
  Speaker 1: just swapped the order.
• 0:21
  Speaker 2: You are listening to Carrie Let's Financial Survival Network, where
• 0:25
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• 0:29
  Speaker 2: to thrive in today's trying times. You need the Financial
• 0:32
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• 0:41
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• 0:48
  Speaker 1: And welcome.
• 0:49
  Speaker 3: You are listening to and watching the Financial Survival Network.
• 0:53
  Speaker 3: I'm your host, Carrie Let's. Well, you know I love
• 0:56
  Speaker 3: entrepreneurial success stories. You know the is it all saying?
• 1:00
  Speaker 3: You know you can tell any story you want in
• 1:02
  Speaker 3: Hollywood as long as it has a happy ending. Well,
• 1:06
  Speaker 3: happy endings happen in life too. Christian osgood is with me? Now?
• 1:11
  Speaker 3: Christian you went from managing just two units to thirty
• 1:16
  Speaker 3: eight in a matter of weeks, and you kind of
• 1:19
  Speaker 3: never stopped. Now you're taking a breath, you're moving your home,
• 1:23
  Speaker 3: You've accomplished your goals.
• 1:25
  Speaker 1: Hey, let's hear your story. Thanks for me. I love
• 1:28
  Speaker 1: getting the shore. This strike's been It's been a little
• 1:31
  Speaker 1: bit unusual, and I'm not a fan of real estate
• 1:33
  Speaker 1: being get rid quick, but a lot of the adventure
• 1:36
  Speaker 1: after eight years of building happened in a relatively short
• 1:39
  Speaker 1: period of time. So I am very excited to get
• 1:41
  Speaker 1: to share some of the journey here with everyone. Hey.
• 1:43
  Speaker 3: So, yeah, two units and you said, gee, this real
• 1:48
  Speaker 3: estate thing is good. I want to do more. But
• 1:51
  Speaker 3: you know a lot of people too. How did you
• 1:53
  Speaker 3: make the transition? So I had I'd always wanted to
• 1:57
  Speaker 3: own real estate as long as I can remember.
• 1:59
  Speaker 1: I remember being a kid looking around and just having
• 2:01
  Speaker 1: the realization every single building someone else owns, like there
• 2:06
  Speaker 1: is a there's an owner for every single building, So
• 2:08
  Speaker 1: there must be a way to play this game. I
• 2:10
  Speaker 1: remember having that thought in like high school. Fast forward
• 2:14
  Speaker 1: through college. My first job, second job, third job, I
• 2:17
  Speaker 1: was told you have to save by real estate, and
• 2:19
  Speaker 1: that's what they did. I had an eight year career.
• 2:21
  Speaker 1: I bought a single family live and flip, did the
• 2:24
  Speaker 1: house hack thing that I learned on Bigger Pockets. So
• 2:27
  Speaker 1: had a roommate, picked up the condo, sold it for
• 2:30
  Speaker 1: a pretty good profit. Eventually bought two duplexis, so I
• 2:34
  Speaker 1: got the four units. I married my wife. The two
• 2:37
  Speaker 1: units cash flow to total or sorry, the four units
• 2:41
  Speaker 1: two rentals cash float about two thousand dollars a month,
• 2:44
  Speaker 1: which is the same as my mortgage in my little
• 2:46
  Speaker 1: house in the rents and Washington. So my real estate
• 2:49
  Speaker 1: was paying for my real estate, which felt pretty good
• 2:51
  Speaker 1: until I looked back at my goals and I was like,
• 2:52
  Speaker 1: wait a second, it's cool that my rentals paying my mortgage,
• 2:55
  Speaker 1: but that took eight years. I don't know that I
• 2:57
  Speaker 1: want to wait another eight years. Do you have another
• 2:58
  Speaker 1: two thousand dollars a month in cash flow? If the
• 3:01
  Speaker 1: goal is financial freedom, the goal is retiring the wife,
• 3:05
  Speaker 1: I have to find a way to accelerate this. Around
• 3:07
  Speaker 1: that time, that's when COVID nineteen hits, so we had
• 3:09
  Speaker 1: all the businesses decided to shut down, and it was
• 3:12
  Speaker 1: a great time to actually sit at home and think,
• 3:14
  Speaker 1: what do I actually want to do and how would
• 3:16
  Speaker 1: I strategize. I've found a company in Cooma, Washington that
• 3:20
  Speaker 1: I worked out, and while my boss there was a
• 3:23
  Speaker 1: I'm quite honestly a terrible business person. I mean he
• 3:26
  Speaker 1: was not good. He was very good at creative finance.
• 3:29
  Speaker 1: He was good at buying properties and then shortly after
• 3:33
  Speaker 1: losing them. He could buy anything, he could raise money
• 3:35
  Speaker 1: for anything, did not do the math on how to
• 3:38
  Speaker 1: keep it. So I built my entire business off the
• 3:40
  Speaker 1: principle how would I buy it and how do I
• 3:42
  Speaker 1: never lose it? The answer to all cuts into the
• 3:45
  Speaker 1: chase that the answer is long term cash flowing picture
• 3:48
  Speaker 1: ate debt. Like that's what I came up with. I'm like,
• 3:50
  Speaker 1: if you can fixture variables and your property pays you
• 3:52
  Speaker 1: to wait, and you own anything for a long period
• 3:54
  Speaker 1: of time, it will make money. So I watched this
• 3:58
  Speaker 1: guy buy all this stuff, like my boy, he could
• 4:00
  Speaker 1: just hold it all, he would be rich. So let's
• 4:02
  Speaker 1: come up with a path to do that, which ended
• 4:04
  Speaker 1: up being actually fairly simple. First significant deal I did
• 4:07
  Speaker 1: was a thirty eight lex. I had a business partner
• 4:10
  Speaker 1: at the time, Cody Davis, my first ever business partner,
• 4:12
  Speaker 1: one of many over the years, and he had figured
• 4:16
  Speaker 1: out some of the sellar financing stuff he had. At
• 4:18
  Speaker 1: the time, he was twenty one years old with thirty
• 4:20
  Speaker 1: rental property and I looked at that at the time
• 4:23
  Speaker 1: being twenty nine and said, hey, wait, second, you have
• 4:26
  Speaker 1: no income. You'd only had one job. By the way,
• 4:28
  Speaker 1: he'd worked a Safeway forbably twenty four minutes, and I
• 4:30
  Speaker 1: was like, this is not for me. So he had
• 4:32
  Speaker 1: had basically no job, no income, and had found a
• 4:36
  Speaker 1: way to acquire and hold thirty rental units two twelve plexes,
• 4:40
  Speaker 1: one six. When I was interviewing him as one of
• 4:43
  Speaker 1: my first owner meetings, so how did you build what
• 4:45
  Speaker 1: you built? He's like, well, I just found like we
• 4:49
  Speaker 1: all we have to do is figure out where they
• 4:50
  Speaker 1: bash alone and just walk into terms like well, how
• 4:53
  Speaker 1: would I get thirty units by thirty if I'm twenty
• 4:55
  Speaker 1: nine And he's like, well, I don't know that I
• 4:56
  Speaker 1: can help you because I need to take out a
• 4:58
  Speaker 1: thirty eight un building and I've wanted to take this
• 5:01
  Speaker 1: out forever. I need a partner to share the work with.
• 5:04
  Speaker 1: What if we partnered and took out us thirty eight together?
• 5:07
  Speaker 1: And so that was the first deal we did sell
• 5:09
  Speaker 1: our finance so cool five percent financed by the seller.
• 5:13
  Speaker 1: So day one starting our deal was eighty five percent funded.
• 5:17
  Speaker 1: All we had to do is go, okay, we found
• 5:19
  Speaker 1: a building that we want to buy. We think we
• 5:20
  Speaker 1: can make this cash flow. It is going to be
• 5:22
  Speaker 1: a project. Mean you guys who can work on this
• 5:25
  Speaker 1: basically full time. And it's already eighty five percent funded.
• 5:29
  Speaker 1: We just have to find fifteen percent of the money.
• 5:31
  Speaker 1: I think we can do this, And so we put
• 5:33
  Speaker 1: it on a contract in a way we went.
• 5:35
  Speaker 3: That's an incredible story. So then you said, hey, this
• 5:39
  Speaker 3: is this is nice. Let's do it again. So it
• 5:43
  Speaker 3: became like a wash lance repeat right more or less,
• 5:48
  Speaker 3: and every deal is a little bit unique. You have
• 5:51
  Speaker 3: to figure out what is the deal, what's the actual opportunity,
• 5:54
  Speaker 3: what debt options are available? Again, that's how we got
• 5:57
  Speaker 3: an eighty five percent funded. I'm like, okay, well we're
• 5:59
  Speaker 3: already five percent done.
• 6:01
  Speaker 1: And then if you need to raise additional capital, you
• 6:04
  Speaker 1: just figure out the equity piece last. It always goes
• 6:06
  Speaker 1: to that order deal debt equity. I see a lot
• 6:08
  Speaker 1: of people try to figure out the money first, especially
• 6:10
  Speaker 1: when you don't have any Yeah, That's really what I
• 6:12
  Speaker 1: think I got stumped on for a lot of years
• 6:14
  Speaker 1: is I don't have the money, so I can't look
• 6:16
  Speaker 1: at the deals, right, Yeah, that's only I think of it.
• 6:21
  Speaker 1: I think I bought and sold real estate.
• 6:22
  Speaker 3: Some of my best to wind falls in life have
• 6:26
  Speaker 3: come from real estate, residential and non residential. Lost money
• 6:31
  Speaker 3: on a few but not a lot, and done flips.
• 6:35
  Speaker 3: But the idea of like owner financing to find these
• 6:39
  Speaker 3: deals has always eluded me.
• 6:42
  Speaker 1: It's one of the It's kind of like anything else
• 6:44
  Speaker 1: in real estate. I feel like there's always something that
• 6:47
  Speaker 1: people are like, oh, well, there's this one piece that
• 6:49
  Speaker 1: I haven't found yet. You get good at whatever you practice, right.
• 6:53
  Speaker 1: And when I went around, I interviewed, just like I
• 6:56
  Speaker 1: did with with Cody Davis, the twenty one year old,
• 6:58
  Speaker 1: I interviewed every single owner as an owner, not as
• 7:01
  Speaker 1: a seller. And so I met all of these donners.
• 7:05
  Speaker 1: And when I asked a bunch of people how they
• 7:06
  Speaker 1: built their business, a really common thread that I found
• 7:09
  Speaker 1: in the cities that I was asking in A lot
• 7:11
  Speaker 1: of them started with little money and started with a
• 7:13
  Speaker 1: lot of creative finance. I was really common from a
• 7:16
  Speaker 1: lot of the owners I spoke to in a bunch
• 7:18
  Speaker 1: of different markets. So the people who I eventually bought from,
• 7:23
  Speaker 1: for the most part of the people who taught me
• 7:24
  Speaker 1: how to buy, which made them pitch super easy. When
• 7:28
  Speaker 1: you're talking to someone who just taught you how they
• 7:30
  Speaker 1: built their entire portfolio with creative finance and why you
• 7:33
  Speaker 1: need to cash flow, and then they're like, oh, by
• 7:35
  Speaker 1: the way, I'm a partner who would really like to
• 7:37
  Speaker 1: sell out of these you know, three duplexus. You just
• 7:40
  Speaker 1: pitch them the terms they just taught you to pitch.
• 7:43
  Speaker 1: It's really hard to say no, and so it pitches
• 7:44
  Speaker 1: you on your own idea. Who done that? It's worked
• 7:47
  Speaker 1: so many times it seems gimmicky. I think start the
• 7:50
  Speaker 1: first time you year, it's like, oh, that's not going
• 7:52
  Speaker 1: to work. And I've done that on what we've done
• 7:54
  Speaker 1: twenty three transactions. I've done it in Grant County, Washington,
• 7:58
  Speaker 1: Mason County, Washington, King County, Washington, Earth County, Texas, also
• 8:03
  Speaker 1: property in Houston. The rto of the call in Texas,
• 8:06
  Speaker 1: Like there's like five or six different markets. I've done
• 8:08
  Speaker 1: the same thing in Not to mention, our mentorship group
• 8:11
  Speaker 1: done all over the country, but just personally. It's the
• 8:15
  Speaker 1: same method. It's no paid leads, it's it's a very
• 8:18
  Speaker 1: relationship based sale. But what it opens up is if
• 8:22
  Speaker 1: you start with the deal, you can tailor the money
• 8:25
  Speaker 1: however you want treat a financially. All you have to
• 8:27
  Speaker 1: do is what would make this deal work? What do
• 8:30
  Speaker 1: they need? What do I need? How do we get there?
• 8:32
  Speaker 1: If you just start with the money, it's pretty rigid.
• 8:35
  Speaker 1: There's only so many deals that fit your money. If
• 8:37
  Speaker 1: you know you can get ten percent debt, you need
• 8:39
  Speaker 1: deals that can cover the ten percent debt, So you're
• 8:41
  Speaker 1: only looking at deals that can do that. If you
• 8:44
  Speaker 1: have a finite amount of money, you can only buy
• 8:46
  Speaker 1: solis real state. If you start with the opportunity, then
• 8:49
  Speaker 1: find the available debt product, and then all you have
• 8:52
  Speaker 1: to do is just figure out the last little bit
• 8:54
  Speaker 1: I found. If you keep it in that order, that's
• 8:56
  Speaker 1: the psychological difference between being able to buy a little
• 8:59
  Speaker 1: bit of real SIY or build a dollar by dollar,
• 9:02
  Speaker 1: or just go like, okay, let's find the opportunity first
• 9:05
  Speaker 1: and tailor the money to it, and all of a sudden,
• 9:07
  Speaker 1: Kappa raised. It became very easy sell a financing McCain
• 9:10
  Speaker 1: pretty intuitive, just because we just swapped the order of
• 9:13
  Speaker 1: let's look at every deal.
• 9:14
  Speaker 3: If I can paraphrase you, like most people put the
• 9:18
  Speaker 3: cart before the horse, right, and instead you put the
• 9:23
  Speaker 3: horse before the cart in this case.
• 9:25
  Speaker 1: Yes, because the goal in this metaphor be to own
• 9:28
  Speaker 1: as many horses as possible. So the goal being owned
• 9:31
  Speaker 1: the horses. The real estate is the engine that pays
• 9:36
  Speaker 1: the money that funds all the deal. Ultimately, the real
• 9:39
  Speaker 1: estate has to buy the real estate. So if you
• 9:40
  Speaker 1: don't have enough money, you don't need to go find
• 9:43
  Speaker 1: more money, you need to go find more real estate. Yeah, okay,
• 9:46
  Speaker 1: I'll buy it. I'll buy it, all right.
• 9:51
  Speaker 3: So hey, if I wanted to start using your system today, Christian,
• 9:56
  Speaker 3: how would I go about doing it?
• 9:57
  Speaker 1: For my system? The first thing I would do, And
• 10:00
  Speaker 1: there's a million there's a million paid mentorships out there.
• 10:02
  Speaker 1: Someone were good, some were bad. I would skip that
• 10:04
  Speaker 1: step first. I think. The first thing I would do
• 10:07
  Speaker 1: is I would write down what is your specific goal?
• 10:09
  Speaker 1: That was a huge difference for me my wife. We
• 10:12
  Speaker 1: got We've always been weird politically at Washington, but over
• 10:15
  Speaker 1: the past five years it's it's gone downhill extremely fast.
• 10:19
  Speaker 1: My wife is a teacher in the school district kindergarten.
• 10:22
  Speaker 1: We went through the whole the whole pandemic hrcaching. Kindergarten
• 10:26
  Speaker 1: is over zoom in a really impoverished area too, so
• 10:28
  Speaker 1: it was like it was par Then she got injured
• 10:31
  Speaker 1: in school, so we took her ten year goals and
• 10:33
  Speaker 1: basically said, hey, end of this year, I'm retiring my
• 10:36
  Speaker 1: wife from teaching. I happen to get the real estate there.
• 10:38
  Speaker 1: When I set a target that mattered, and I put
• 10:41
  Speaker 1: a dollar amount to it, like what do I need
• 10:42
  Speaker 1: to make per month to retire my wife? Yeah, that
• 10:45
  Speaker 1: made the target really clear and there's urgency. So number one,
• 10:48
  Speaker 1: set your target. Number two, go out and find the
• 10:50
  Speaker 1: people in your market who've done this thing that you
• 10:52
  Speaker 1: want to do. I just interviewed all the people who
• 10:54
  Speaker 1: owed over one hundred rental units in the little county
• 10:57
  Speaker 1: of Grant County. There's a few larger groups, but for
• 11:01
  Speaker 1: the most part, there's a lot of mom and pop people.
• 11:03
  Speaker 1: It's like ten main players. I just met those ten people,
• 11:07
  Speaker 1: and now you move from being an outsider to an inside.
• 11:11
  Speaker 1: So I think the easiest thing for people to do
• 11:13
  Speaker 1: is one know your target too. Just find the other
• 11:15
  Speaker 1: people who've already hit that target. Generally speaking, everything you
• 11:19
  Speaker 1: want to do to someone else has already done. Just
• 11:21
  Speaker 1: go find those people so you don't need to reinvent
• 11:25
  Speaker 1: the wheel. You don't. You don't at all. And like
• 11:29
  Speaker 1: I've I have a group called multipeller Strategy multipellly Strategy
• 11:32
  Speaker 1: dot com. I'm a hole. We've had over a thousand
• 11:34
  Speaker 1: people go through our course and hundreds go through the
• 11:36
  Speaker 1: mentorship program. Like I've coached people to do things, but
• 11:40
  Speaker 1: I think the most important thing that I share with
• 11:42
  Speaker 1: everyone is while you can accelerate stuff in community, no
• 11:46
  Speaker 1: one who has been successful in any mentorship ever would
• 11:50
  Speaker 1: have not been successful by themselves. Like everyone would have succeeded.
• 11:54
  Speaker 1: If you can find a group of people doing the
• 11:56
  Speaker 1: same thing whatever it is you want to do, you
• 11:59
  Speaker 1: can speed things up up. But the first thing you
• 12:01
  Speaker 1: really have to work on is like you have to
• 12:03
  Speaker 1: know yourself, know your goals, and then you have to
• 12:06
  Speaker 1: be able to run the business yourself. Once you know
• 12:09
  Speaker 1: what you're doing, then find like minded people and get
• 12:11
  Speaker 1: into some community somewhere paid or unpaid. That's going to
• 12:15
  Speaker 1: help you move forward faster and be able to answer
• 12:17
  Speaker 1: your questions cut down on what we call the stupid tact.
• 12:21
  Speaker 1: Sometimes you don't know what you don't know, and that
• 12:22
  Speaker 1: costs a lot and care. I'm imagining being in a
• 12:25
  Speaker 1: real estate you've had some expensive, expensive lessons along the
• 12:28
  Speaker 1: way as well. Well.
• 12:29
  Speaker 3: My father always said anytime you get into a new business,
• 12:33
  Speaker 3: you pay for lessons. Yes, and I've found that to
• 12:37
  Speaker 3: be extremely accurate, and if when in doubt, you know,
• 12:44
  Speaker 3: it's always always proving true.
• 12:48
  Speaker 1: And it's good to know you will pay for your lessons.
• 12:50
  Speaker 1: Either way. Nice to do that upfront instead of mid project.
• 12:56
  Speaker 1: It could be very expensive to not know what you
• 12:59
  Speaker 1: don't know. Part Way through our business we bought a
• 13:02
  Speaker 1: we bought a resort seller finance four and a half
• 13:04
  Speaker 1: a million dollar waterfront resort on the assumption that we've
• 13:07
  Speaker 1: been good at real estate, we've been good at creative finance.
• 13:10
  Speaker 1: Of course, running hospitality will be the same as running
• 13:14
  Speaker 1: multi family. Oh sure, thank you right?
• 13:16
  Speaker 3: Yeah, like novels dirty, Why why is the bed of
• 13:20
  Speaker 3: miss Grim wasn't cleaned to write how do you run eight,
• 13:25
  Speaker 3: eight or nine employees on a small campry?
• 13:27
  Speaker 1: Yeah? We survived that pretty much because we had already
• 13:31
  Speaker 1: bought enough multi family that we are good at. We
• 13:33
  Speaker 1: got we got through that, and it eventually did make
• 13:36
  Speaker 1: a good deal of money. But it was so expensive,
• 13:39
  Speaker 1: the way that we structured it, the way that we
• 13:41
  Speaker 1: ran it, the amount of time it costs. If I
• 13:44
  Speaker 1: had just paid for the lesson of getting a mentor
• 13:45
  Speaker 1: on any piece of the business, anyone could have looked
• 13:48
  Speaker 1: at that and said, you do value add multifamily like
• 13:51
  Speaker 1: you're you're a you're an entry level house guy, don't
• 13:55
  Speaker 1: don't buy a resort. I would have saved like a
• 13:58
  Speaker 1: million dollars there. You know what would have really been
• 14:00
  Speaker 1: helpful in the search of financial freedom. An extra million
• 14:03
  Speaker 1: dollars early on, it would have been great.
• 14:06
  Speaker 3: Probably what a lost state that it was me. Hey,
• 14:09
  Speaker 3: so what about people that go the airbnb route? Obviously
• 14:13
  Speaker 3: not what you're doing when you have too many units,
• 14:16
  Speaker 3: it's just not really scalable and you're effectively running a hotel.
• 14:21
  Speaker 1: Right so on my hotel is my resort is it's
• 14:27
  Speaker 1: a twenty unit resort. We also bought the house next door,
• 14:29
  Speaker 1: which actually wasn't good play, and we bought a sell
• 14:31
  Speaker 1: frid it. They're all run on like an Airbnb. It's
• 14:37
  Speaker 1: just a little bit more scaled. It's all on Airbnb,
• 14:39
  Speaker 1: the RBO, so we run that type of thing. I
• 14:43
  Speaker 1: would say, just like multi family and a single family,
• 14:46
  Speaker 1: single family takes a lot of time to scale. You
• 14:48
  Speaker 1: have to do a lot of transactions. It could be
• 14:50
  Speaker 1: a little bit harder to repeat success because they're not
• 14:52
  Speaker 1: as many people who have huge portpolos of single family.
• 14:56
  Speaker 1: It's kind of the same concept Billy's I believe in hospitality.
• 15:00
  Speaker 1: If you want to go that route, don't buy a
• 15:02
  Speaker 1: bunch of multi family, be a specialist in hospitality and
• 15:06
  Speaker 1: buy there. Buy the boutique hotels, do the turnarounds on
• 15:09
  Speaker 1: failing motels. They screw some up. Like those type of projects.
• 15:15
  Speaker 1: Much easier to scale. You would make more money. You
• 15:19
  Speaker 1: could make a ton of money. Do it exactly what
• 15:20
  Speaker 1: I did, seller finance, resort airbnb style. But that needs
• 15:25
  Speaker 1: to be your business. That needs to be everything you do.
• 15:28
  Speaker 1: You need to be the best at how do I list?
• 15:30
  Speaker 1: It's a cool niche you could outperform. Unlike multi family,
• 15:34
  Speaker 1: you can kind of do what the market's doing, maybe
• 15:36
  Speaker 1: a little bit more. You have more ability to use
• 15:40
  Speaker 1: your creativity to make money, but it's super time intensive.
• 15:44
  Speaker 1: You're not going to do Airbnb style stuff. If you're
• 15:47
  Speaker 1: doing Airbnb houses, I think that model is way oversaturated.
• 15:52
  Speaker 1: Regulations kind of killing that. It's a hard way to
• 15:54
  Speaker 1: make money. You can do it, but it's hard. If
• 15:57
  Speaker 1: you love that model, I would get into the smaller,
• 16:01
  Speaker 1: mid sized buildings like what we bought. Man, if you
• 16:04
  Speaker 1: would like the hotel on the hood canal that does
• 16:06
  Speaker 1: really well, I didn't want to run out, so you
• 16:09
  Speaker 1: can have mine, all right.
• 16:11
  Speaker 3: Hey, if I could get a good deal on the
• 16:12
  Speaker 3: owner of financing, I'm definitely interested.
• 16:15
  Speaker 1: There we go. I know the prior owner would would
• 16:17
  Speaker 1: carry at least a couple million of the probably about
• 16:20
  Speaker 1: five and a half million. I bought for four and
• 16:21
  Speaker 1: a half but I added a large piece of property
• 16:24
  Speaker 1: to it. But yeah, I know you'd be able to
• 16:27
  Speaker 1: sell our finance at least you know, thirty percent of it. Yeah,
• 16:31
  Speaker 1: the starter all right, all right, you gots me interested now.
• 16:36
  Speaker 3: Hey, So one final piece of advice to anybody out
• 16:40
  Speaker 3: there who was in your position and looking at real
• 16:44
  Speaker 3: estate but hasn't pulled the trigger yet.
• 16:46
  Speaker 1: You haven't pulled the trigger yet. My biggest piece of
• 16:49
  Speaker 1: advice would be don't add steps. I think we've been
• 16:52
  Speaker 1: trained from first, second, third, fourth, fifth a way by
• 16:54
  Speaker 1: high school for some college. You get jobs to get
• 16:57
  Speaker 1: money to save up for real estate. I added a
• 16:59
  Speaker 1: lot of steps because I was told there's a lot
• 17:01
  Speaker 1: of steps to do this. Ultimately, if your goal is
• 17:03
  Speaker 1: to be an investor, the path to do that is
• 17:06
  Speaker 1: to buy an investment property and then congratulations, you've done
• 17:09
  Speaker 1: the thing. When I bought my first duplex, it took
• 17:12
  Speaker 1: me two years to buy my first thirty eight plex,
• 17:14
  Speaker 1: So it took me two years from there to be
• 17:15
  Speaker 1: at two hundred and thirty five rental units in two states.
• 17:18
  Speaker 1: It took me eight years to stave it up and
• 17:21
  Speaker 1: buy the person Star rental property. I could have done
• 17:23
  Speaker 1: that much quicker. Like, look at the age in my
• 17:25
  Speaker 1: first partner, Cody Davis, or I have a buddy, Kale
• 17:28
  Speaker 1: Palmo bought his first property at nineteen. He's twenty one.
• 17:31
  Speaker 1: If he's under podcast for another forty four units, it's
• 17:33
  Speaker 1: gonna be like one hundred and thirty years this year. Amazing.
• 17:36
  Speaker 1: All right, Hey, we appreciate fast. Just buy the first property.
• 17:39
  Speaker 1: Just buy the first property. Love it.
• 17:42
  Speaker 3: Hey, you got a question for Christian to myself? Shoot
• 17:45
  Speaker 3: me an email Kal at Terry Ledz dot com. You
• 17:48
  Speaker 3: find a link to Christian site, just give us your
• 17:51
  Speaker 3: site now Christian Yeah. A multifamily Strategy dot com. Multifamily
• 17:56
  Speaker 3: Strategy dot com link is in the show notes to
• 17:59
  Speaker 3: this interview on our site Financial Survival Network dot com.
• 18:02
  Speaker 3: While you're there, please sign up for your free newsletter,
• 18:05
  Speaker 3: Chris Finn.
• 18:06
  Speaker 1: It's really been fun. We will definitely have you on again.
• 18:08
  Speaker 2: Thank you so much, thanks for listening to Carrie Lenz's
• 18:12
  Speaker 2: Financial Survival Network, your solution to today's trying times. For
• 18:17
  Speaker 2: the latest, go to Financial Survivalnetwork dot com. Financial Survival
• 18:22
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