You see, it’s actually much easier to buy than to sell. Like so many investors, you may have thought that this business was all about buying. The truth is that selling is a lot harder than buying; therefore you have to structure your business with that in mind.
In fact, you need to have all your exit strategies in mind before you make the offer to the seller.
Here are several exit strategies to consider…
Which exit strategy to use really depends on your market and how the deal was originally constructed. If it was constructed as an all-cash deal and the money was raised through private money, a high-interest lender, then you have no option but to sell it for cash. But if you crafted a great buy with financing from the seller, then all the other options open up. Doesn’t it make sense then to market it in several ways so you can move it quickly?
There are several exit strategies that you have for each property. Depending on how you got into the house, that will determine how you can get out of the house, with the most profit in your pocket.
Lou Brown has the most comprehensive, organized and step-by-step program. He has helped me tremendously to organize my business, understand my goals and business better and put it all into action.
In addition to these exit strategies, have you considered Holding as an option? Most people shy away from owning property long-term because they don’t realize the profits centers that come with them. AND holding property entails dealing with tenants and I’m sure you know that they can cause a headache or two. But, I have a secret that not many real estate investors know about. It’s all about control. You control the rent process, it doesn’t have to control you.
Over the years, I’ve found that I reap the most profits and solve several recurring tenant problems along the way by having a different plan than most landlords. I found it’s better to attract tenants who someday want to own that property. Once I attract these tenants then I train them from the very beginning to be the ideal tenant, all while receiving a cash flow from the property.
There’s so much that goes into this way of doing business but I wanted to give you a general idea that things don’t have to be done the traditional way. Once you train your brain to start thinking the Street Smart way, your real estate business will thrive.
Is that a good plan? Yeah Baby!
Whew, we’ve covered many areas of the real estate investing business. Are you ready to learn how to find the right sellers for your properties? Check out the next article.
Here’s to your success!
The Street Smart Investor