I have prime real estate that is located in a prime area of our neighborhood. I can't rent the properties because they are too old to take care of manufactured homes from the years 1966 to 1985. I have valuable dirt with no funds to make it better. If I could borrow against the properties to pay all our debt off and have one payment we could continue forward without so much stress. Our properties are contiguous and paid for except for 2. The value of the land is what I would borrow against and the manufactured homes would be removed so that the lots would not have dangerous structures on them. I have been searching and have had no luck in getting the help we need. Doe's anyone have any ideas??? I am straddling a fence with personal/business ideas. I cannot make the leap to either side until we get help. Will we ever get help???
Hi and welcome to the community.
You talk about a BLANKET LOAN.
It would help to know about you and your location.
I do have two suggestions that could help you.
One: Get to know your banker on a personal level.
Two: Have a written Business Plan to present.
Good luck and keep us in the loop.
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