What is Your Private Money Loan Exit Strategy?

Borrowing Private Money

 

Once you’ve made the decision to borrow private money, you must know what your exit strategy is and it is wise to even have multiple exit strategies.  Without a clear exit, you will never get a private money lender to give you the time of day or a loan!  Why, because private money or hard money loans are short term solutions, not long term borrowing or loan solutions. Private money loans can be the perfect solution for many personal, commercial, investment, and business challenges, but having an exit strategy is paramount to getting the loan and thriving through the process.

 

Masterminding Your Private Loan Exit Strategy

In the process of devising a clear exit strategy it is crucial that you mastermind your various options with your partners or members of your advisory team.  Many times, you and your partners haven’t thought of everything that could happen. This is an excellent opportunity to brainstorm the “what ifs” and come up with reliable solutions.

 

The exit strategy you have devised could have some holes in it that you hadn’t considered.  This is another reason why you should seek the advice of a trusted private money broker when pinpointing your exit strategies.  An experienced broker has seen many deals pass over his or her desk and, on the negative side, has also seen many deals go bad usually because of poor exit strategy.  A good broker can help you and your partners trouble-shoot your proposed exit strategies and get clear on what you will do if the following scenarios happen.

Private money lending can be an amazing solution to so many situations that a traditional loan can’t or won’t address. Give us a call today at 707-315-1119 or fill our short borrower form or contact form and one of our private money lending professionals will be in touch promptly.

 

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