Updated almost 12 years ago on . Most recent reply
Exit strategies
I just read Michael LaCava's great blogpost about Exit Strategies. It seems as though having Plan B, C, and D are critical to success in this business. My question is: if you purchase a rehab project with a 6 month hard money loan and the house does not sell before six months, how would you be able to secure conventional financing if these same lenders would have said "No" 6 months prior? Is it because the property has been updated and is now less risky for traditional lenders?