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Updated about 7 years ago on . Most recent reply

User Stats

104
Posts
68
Votes
Aaron Smith
  • Durham, NC
68
Votes |
104
Posts

Commercial/blanket/portfolio Loans that Don't require Appraisal?

Aaron Smith
  • Durham, NC
Posted

Hi, I currently own 12 properties.  4 have traditional mortgages on them and 3 of them are lumped together on a commercial portfolio loan.  All of these loans have required appraisals of course.  

Thus, I have 5 properties currently that are owned outright with no loan.   My cash flow is drying up and I need to get more cash.  All of these properties are rented but most in bad shape and in need of significant renovations, which I will eventually do but not ready to do at the current time.

Is there any type of loans out there that I could get given my situation that wouldn't require an onsite appraisal?  Like anything that would use rental income or just a desktop appraisal?  Any ideas would be great.  I am in NC..  Thanks!

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