Getting Out of a Hard Money Loan
I currently have a rental for college kids and am looking to expand to more/multi tenant. I am interested in the hard money loan idea. Easy money to get started, don't need to deal with a big bank etc. What are the best exist strategies? Obviously I do not want to be paying 15-25% long term. I want to buy a property at discount, use the equity and pull that money back out, but that would require refinancing with a bank which I am trying to avoid in the first place. How have you done it?
Thanks!