90 unit portfolio with assumable loan

[Shenes Benniefield Watson]

I might be out of my league but I strongly desire to purchase a large portfolio and thus retire my corporate career and focus solely on real estate. My background is a realtor/landlord and project manager by trade.

I have my eye on a 90 unit portfolio that is on the market for $5.4mil with an assumable loan balance of $3.6mil. This leaves a difference of ~1.8mil. I want to find a lender that will finance the balance, in the second mortgage position.

I’m a novice when it come to assumable mortgages and creative finance. Any pointers?

[Justin Goodin]

@Shenes Benniefield Watson This is not how loan assumptions work. I wish haha. 
I would definitely spend more time learning about multifamily investing in general. 

Read books, listen to podcasts, and find a mentor. Let me know if you need any recommendations. Good luck!