FInancing question for multifamily purchase
I have looked at several deals on Loopnet many of which are assumable loans as a possibility. Many of these look attractive for the first 5 years of the note but then will have a very possible negative outcome depending on interest rates as of 5 years out. Looks like it could potentially double the payment making it really hard to profit from the property and keep it up to the level it needs to continue having a decent asset. I have done tons of sfh's mobile homes and even small apartment type houses but never a full complex. Is the back end of the financing always such a drastic risk or is this typically someone looking to cash out quick and leave someone else holding the bag? Also what to look for in a complex as far as financing and financability if that's a word.