Real Estate Investor Strategy: Exiting the deal.
What does Exit Strategy mean?
For real estate investors, the basic definition is "HOW ARE YOU GOING TO GET OUT OR EXIT FROM THE DEAL?"
This real estate investor strategy is perhaps one of he most critical to your success as an investor. When doing your due diligence on a deal, not only do you need to know or make sure that you know if then numbers work, but you need to Know how you are going to get out!
Many times, I speak with new investors and they don't think with any Real Estate Investor strategy in mind! That's nuts...I've gotten the "Hmm gee, I haven't thought of it." to a plain " I don't know."
If this is you, don't worry, I'm going to outline some of top exits that are used in any Real Estate Investor Strategy. Ready to Begin? Let's go.
1. Wholesale....This is a Real Estate Investor Strategy that involves getting a property under contract, and then selling that contract, not the property ( you don't own it yet!) to another investor.
2. Rehab....Right, you saw this on TV, and this is probably the reason you decided to become a Real Estate Investor! You loved the romantic notion right?
3. Rent....Pretty basic, you buy it and then you rent it out, ideally with positive cash flow.
4. Lease option.....basically, the same as Rent, except you are offering the rentor, a legal right to first crack at buying the property at some point in time...yeah, you are giving them the option to buy or not.
These are the four biggest exits that a Real Estate Investor Strategy would be built around.
Quick Tip: Ideally, when looking at a deal, try to make sure you have the opportunity to do at least 2 options. You always want to give yourself more than one way out. Build in options for yourself!
We hope you found this information useful. For more information, periodical updates, and tips to increase your skill and build massive wealth in Real Estate, Visit http://www.RimfireWholesaleDeals.com to sign up for your free report "How to buy Wholesale without Taking a Bath!" And updates when properties and investor tools come available. http://www.RimfireWholesaleDeals.com
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