I am looking at a deal on a 15 unit portfolio. Help!

[Naomi McMahon]

Hi BP community. I am brand new to all of this and have not completed my first deal. However, I found a 15 unit portfolio for less than $4M that I can potentially assume at its current 5% interest rate. What do I do now?! I feel like this is an absolutely phenomenal deal, too good to be true. I'm unsure how financing works for buying a portfolio as most of the units are condominiums scattered amongst the county. Please help me figure out the next steps. Thank you!

[Benjamin Aaker]

Like you said, too good to be true. It might be.

It also might be too big of a deal for you, being brand new. Trying to manage these units spread out might sink your deal. Also, consider why the seller would be selling. They might be trying to carve off the underperformers of their portfolio. Perhaps you should consider a single condo deal first.