CH 11 bankruptcy
Hello BP
Since getting a 5plex under contract, I grew to like multifamily properties. I'm planning for my niche to be small multifamily 5-20 units. However, while getting quotes for the 5plex a contractor informed me of a property that may be on the market soon because the current managers are giving up. I remember thenew management sign going up about 2-4 years ago. I'm assuming they have the same type of commercial loan my partner and I are looking into for the 5 plex with 20 amort and a balloon in 3 years. Anyways, after researching I discovered the owning company filed for Ch 11 bankruptcy recently. It's a drug infested complex in a prime location. I want this property. How should I proceed? Thanks.