One strategy to get big discounts on multifamily properties is to buy the loans from current lenders at below par. Once a mortgage becomes 60-90 days late, lenders will consider selling the note to de-risk their position and redeploy the capital into other loans. Buying pools of these notes is a strategy deployed by larger funds but can also be used by smaller investors to acquire buildings in smaller to midsize markets for short or long-term holds. Chris Zona, litigation attorney, helps clients navigate this sometimes-complex process in order to expand their portfolios for short-term gain or longer-term appreciation.