I'm posting this because I didn't find it when I searched, so if it's already a topic I apologize in advance... ;D
What are exit strategies? In my opinion, these are one of the most important elements of the game. Don't be mistaken they're not the same as the "escape clauses" on the purchase agreement. They're the methods you use to make money on the property you've just acquired, whether the market's up or down, good or bad. The more of them you have the better position you'll be in. So before you lock up a contract have a couple of exit strategies already in your mind, that way if one doesn't work you have a couple more to implement. This way you're not forced to walk away or back out of the deal and miss the opportunity to make some money. If you keep this simple rule in mind, you will always make money investing.
* Assigning the contract to another buyer
* Wholesaling for a finder's fee
* Lease Option/Purchase
* Owner financing
* Subject to
* Selling to landlords
These are just seven strategies off the top of my head, with a little creativity you can have even more of them. If you feel I missed any, please feel free to add them!
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."