Novice Investor needing some assistance

[Edkesha J. Anderson]

Good morning everyone,

I have located a large scale multifamily property (96 units fully occupied). My question is in regards to how the financing of such a large scale project works. The property is priced at just under $3M with an NOI of $285,255 annually. How does one go about securing financing? Is it a typical bank loan or are there other mechanisms available, especially for novice investors? Any insight would be helpful.