Refinancing on Land - Is it possible?

[Benjamin Barredo]

Hello everyone,

I have a question. I have a possible deal I'm working out. It's a mobile home on a private lot.

The assessment says the lot is retailed at roughly $30k (with a tax value of about $7k). The seller says she's wants $32k minimum. I'm thinking of trying to get her to owner finance and I'll put a rent to own strategy on it.

My question is - can I refinance on the land at 80/100 like a home? I forgot to say that the deal comes with 2 lots, both valued at about $30k. So, if this is true for refinancing, I could refinance on both lots in a year and pull a decent pay-day out of it and pay off the seller.

What do you think?