What is an Exit Strategy for a Hard Money Loan?

When you’re talking about a 30-year mortgage, you never have to think about “exit strategy.” But when you’re taking out a temporary bridge loan, a private money loan, or a hard money loan for example, the loan term is so short that your exit strategy is one of the most important things. But what is an exit strategy for a hard money loan?
The exit strategy is defined in how you intend to pay the loan off. Having multiple exit strategies is key when taking out a short term, temporary bridge loan for a term of say, 6 months or 2 years.
Before you approach a non bank lender for a hard money loan, make sure you know the answer to the question, ‘What is your exit strategy for the loan?’ In fact, have multiple answers to that question before you even apply for a loan. ccurwick