Using mobile home rental for financial leverage

[Jesse Aaron]

Hey everyone! I recently took an older, remodeled mobile home on a 1 acre lot off the market. I wasn’t desperate to sale. So I while I did get some decent offers, I didn’t receive enough to part with it (I was asking 105k, got several offers in the 80s and multiple “will you take payments” requests). I decided to use it as a rental and in a half day, I already have a tenant in place. Is there anyway to leverage this rental for cash to develop another piece of land I own? The trailer is nice, but it is a 1991. Will anyone do a refi or heloc on an older mobile? Or is there another more viable option? Thanks in advance!