OfflineI'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.
Exit strategies:
* Assigning the contract to another buyer
* Wholesaling for a finder's fee
* Lease Option/Purchase
* Owner financing
* Subject to
* Selling to landlords
* Auctions
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!
Continued blessings,
Elena
Psalms 118:23 "This is the LORD's doing; it is marvellous in our eyes."
Thank you, Lena. Very good to keep in mind!
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
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"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
thanks much. even though I am just getting started I have already learn a lot by reviewing and reading FAQ's.
living victorious
Elena M,
Thank you again! It seems like this crowd is not only motivated to be successful...but more importantly, you are FEARLESS in admitting what you do not know and constantly working to help each other on their path to prosperity (not just financial, but spiritual).
Reminds me of a story about a man that helped ten folks change the way they looked at themselves. Most simply went on with their lives, but one person returned to thank the giver...I already feel humbled by your insights (and figuratively, "hat in hand") want to say "Thank You."
Being a math guy, I'd suspect that if you multiply your "thank you's" by about 10 (some argue MUCH more), you can begin to appreciate your impact in just the DG family...my prayer for you today is that you receive a "Double Measure" of the Spirit in your walk today...God bless, wib
"All great social and intellectual movements begin with a group of interested friends." CS Lewis
And we know that for those who love God, that is, for those who are called according to his purpose, all things are working together for good.
Romans 8:28 - International Standard Version (©2008)
I don't know about FEARLESS... I just try to be honest with myself and with others, sometimes BRUTALLY honest with myself.. LOL! But I do thank you for your kind kind words. Your prayers are ALWAYS welcome and appreciated. Thank you again for all your wonderful comments, I truly appreciate them!
God's continued blessings for you as well,
Psalms 118:23 "This is the LORD's doing; it is marvellous in our eyes."