This step is concerned with the identification and implementation of various exit strategies. An exit strategy is simply the way in which you will get out of a particular deal with a healthy profit.
Exiting Deals As Important As Entering Deals
Your exit strategy should be defined before you enter a real estate transaction.
The exit strategy you use will depend on your investment strategy, for example if you are wholesaling then use investors or media advertising to “turn” the property as quickly as possible.
Similar exit strategies exist for other types of investment strategies (keeper properties and rehabs).
For rehabs, you will want to consider marketing yourself or hiring a real estate agent to market for you so that you can get on with evaluating more deals. A good selling agent can move properties very quickly for you. It is important to know how to select a good agent for this purpose. We have defined at least 12 criteria for selecting the best possible agents.
Presentation and pricing the property correctly is also important (we did say market research was important, did we not?).