Anyone experienced with broken condos?

[Patrick Nickerson]

Hey everyone! I’m looking at a few off market deals one of which being a broken condo complex.

For example..the property has 3 or 4 condos individually owned within another 50+ units that I’m looking to acquire. Brokers and the owner of course suggest that I buy the rest of them out of their condo which sounds easy enough...

Can anyone offer their experience they had from a similar situation? How have you seen this play out with the individual owners in past deals?

For all the multi family investors out there... what are your thoughts on buying a broken condo multi family complex? Is this something you avoid? Does it matter to you? 

Brokers... how is your experience with this? Does this make them harder to disposition/sell down the road if I can’t acquire those last 3-4?

Thanks in advance! Excited to hear your responses!