Cashing out on a vacant lot

Wholesaler · Mechanicsville, VA · Member since 2015 · 63 posts · 16 votes

If you own a vacant, buildable lot, are there any banks who will allow you to pull cash out of it by refinancing?

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Ryan Dossey
Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
11y
From the research I have done it looks like you can do a refinance if you have an existing loan but not a cash out refi. I would imagine this to be the case unless there are extenuating circumstances. Like your lot is in down town NY.
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