Cash-Out Refi on Leasehold Land

[Bini Gibson]

The property is paid for free and clear but subject to ground rent that has been approved to be redeemed. I can't redeem, pay the fee for the land, the ground rent until March 1st of 2024. I have wasted the last six months trying to refinance this property missing out on deals because no one can deliver. I would like to see what my options are and hope to close something in the next 45 days or less. To avoid wasting anyone else's time I will be sure to explain all this in as much detail as possible for the best results and hopes to establish a fruitful relationship. 

Property Value- $170K Free & Clear Clean Title. Most recent appraisal was done early October.

GR Lease Deed- February 1957

Current rents- $2100 on a one-year lease, meets DSCR requirements.

The land is leasehold not fee simple, not until March. 

I have all documents necessary to get this ball rolling.