Notes on Real Estate Investment Strategies with Christian Osgood
Introduction
- Discussion between Brad Lee and Christian Osgood about real estate investment.
- Christian Osgood started with $10,000 and now owns over 300 doors.
Real Estate Market Outlook
- Current and future opportunities in real estate as many will be wiped out due to maturing debts and high interest rates.
- Misconception: The wave for real estate investment is over.
- Reality: There are still deals, particularly outside major cities.
Starting in Real Estate
- Key Steps: Deal first, then debt, then equity.
- Initial Belief: Money is not a prerequisite to start; it's about finding deals.
Finding Deals
- Use Google Maps to identify potential properties.
- Access county GIS data or parcel maps to identify property owners.
- Build relationships with current owners; most first deals come from these relationships.
Financing Deals
- Many successful deals are creatively financed, often through seller financing.
- It's more about structuring the right deal than having credit or immediate funding.
Building Relationships
- Start by creating connections with people who have already succeeded in real estate.
- Aim to understand their journey and methodologies.
- Network with property owners and those involved in the industry.
Types of Properties and Markets
- Focus on B+ properties which can be improved to increase value.
- Smaller towns (population 30,000-150,000) are often less competitive and offer good opportunities.
The Importance of Knowledge
- Understand the market thoroughly before investing.
- Learn about debt products and equity structures.
- Find mentors or coaches to shorten the learning curve.
Practical Steps for Beginners
- Saturday routine: Use Google to find properties and research owners.
- Don't start conversations asking to buy; instead, build relationships.
Raising Capital
- Relationship building can lead to introductions to potential investors.
- Example: Finding investors through brokers or property owners willing to sell.
Managing Properties
- Importance of having a management team once scaling up.
- Avoid being bogged down by small property management tasks.
Long-term Strategy
- Ideal to never sell and hold properties for cash flow.
- Utilize appreciation and refinancing to build equity and liquidity.
Final Advice
- Education is crucial; learn from experienced investors and mentors.
- Always aim to increase your income with each deal.
Resources
- MultiFamilyStrategy.com for further training and education.
- Christian Osgood's advice is available on social media for more tips on real estate investing.
Conclusion: Real estate is a viable investment option with the right strategy and understanding of the market dynamics. Building connections and learning continuously are crucial for success.
Note: This summary captures the key points from a detailed discussion on real estate investments focusing on strategies, market insights, and practical steps for beginners.