Seller Finance deal exit strategies

[Mel Hayes]

Hello BP,

I have deal on the table where the seller is willing to carry the note for the first year but then I need to find financing. This is not a flip but a long term buy and hold.  I suppose if I can't find financing I could sell but that would be my last option. Are there any other ways to exit without using a bank?  I'm looking for an answer that I may not have thought of yet.

Thanks in advance

[Charles Carillo]

@Mel Hayes

You could refinance it with another private lender but I would try to get a little longer of a term from the seller; maybe 2-3 years and then focus on adding value to the property. The more value you add, the lower the LTV will be on the refinance and the less risky it is for the lender. Usually, the less risky it is, the more lenders you will find for it and hopefully with better terms.