Exit Strategies for Hard Money Lenders and Private Lenders
Hi all!
I was wondering if I could bounce ideas from everybody here on possible exit strategies you can use when going through a hard money lender or a private lender. I know there is the selling of the property, refinancing, equitable forfeit (putting your own property on the line in the event the deal falls through). I was wondering what other possibilities there were for both hard money lenders and/or private lenders. I feel you can be a little more creative with private lenders, like seller finance, but I would like to build a list of exit strategies, as they are the most important aspect of a project proposal. It doesn't matter how lucerative a deal is, if you have no plan (or plans) on how to get out, you can forget anybody wanting to chance funding it.
Thanks all!
Kim