FINANCING 19UNITS NEW BRUNSWICK

[Fred H.]

Hey all,

My names Fred I am from Saint John, New Brunswick. I'm a university graduate who works a 9-5 job currently.I'm looking for some insight on how to successfully finance a deal for approx 19 units between 3 properties in the uptown core. This is a great opportunity as the buildings are being sold in a package deal for $150,000. Now the catch is the buildings are vacant and would need some rehab. However, its key to note  that 2 of the 3 buildings don't need that much to get up and running. I have contractors in my network who could get the job done for a decent price. However, the bank looks at financing 6+ units mortgages at a income producing standpoint. Therefore, it essentially impossible to get a bank to finance this deal as they are vacant and not income producing.....Yet. I have been told to evaluate the private lender route. Would love some input or feedback on what you would do in this situation. Also, if you are from the area and interested in multi family rentals would love to discuss the market,opportunities etc..

Thanks,

Fred