What would you do?

[Tim Ward]

Hi Everyone!

I have a 5800sq ft, 4 unit apartment building in New Brunswick, Canada that I bought a couple of years ago. The building is quite old and has lots of old/dated wiring that has made it un-rentable until it is rewired.

With all my quotes... I'm looking at about $90k to $100k to renovate the building. There is mortgage of around $60k that I assumed as part of the deal on the building. Upon completion it should have a sale value of $300k and upwards of $400k if we make it a 6 unit building.

I don't have enough equity in my other building to cover my costs and I've been spreading the word whenever I can to let people know that I'm open to ideas. I really need to get this place fixed and/or out of my hair.

What would you do? Does anyone on here have any advice that would be related to my situation in Canada?