KEEP A POSITIVE MINDSET AND SMILE
In this tricky market it is more important than ever to decide on your exit strategies
before you even make an offer.
I am experimenting with several different ones to see which one or ones work best in this
Buy and wholesale to another investor
Been difficult since my offers are 14 days close and the banks are so creepy about
assignments. Have tried using trust assignments with some success but still not perfect.
Bill Bronchick suggests we use LLCs.
Buy, and close using the one-day dough people. In Aug we are having a webinar about
how to do that. You have to have your buyer already in the wings who is ready to put up
the money before you close so it’s a smooth double escrow.
We are trying this one right now. I bought a fixer at a good price and am going to hold
an onsite auction 30 days after closing.
Buy, rehab and sell to an end user - have to line up a hard money lender who won’t pick
Buy, rehab, and qualify for new loan. Then you can rent for some amazing cash flow,
Section 8 or do a lease with option or do a wrap.
All of these can work. Trying all of them to get a cookie cutter formula that I can rinse
and repeat. Follow my blog to see how I do.