Purchasing first commercial properties. Guidance on financing?

[Blake Crawford]

Greetings new friends. I have been wholesaling residential real estate for 6 years I'm now ready to jump into commercial. I came across a 90 unit appartment complex for just under a million. It's a distressed seller situation, seller started renovating and had to leave country due to sick family member and abandoned theproject. I would like to find the best route to go after funding for this. It will take me $600k to finish renovations intop of the 1 million purchase price (market value is $3million as is) arv is 4.2million. I found a second 42 unit complex similar distressed seller. It's going to take $900k to purchase and $300k in improvements. Can I get a loan for both of these properties or should they be financed separately? Should I walk into my local bank and ask for a loan?

[Blake Crawford]

@Dan Handford thank you for your input Dan. Just to update everyone I spent 2 weeks networking like crazy to make this come together. I ended up with a hard money lender that gave me a zero down loan with enough extra to operate the place due to the great value on the property. I will be the first to admit I'm not qualified to run the place. I subcontracted out management to a very credible team.