3 exit strategies concept
Everyday I hear people telling they bought this property or that property, and many times, when I ask them what they plan to do with it, they just come up with ONE idea, and sometimes, even worse, they said they bought it because they liked it and are not sure what to do with it.
"I never buy property unless I have 3 clear exit strategies for it" Johan Hamid
Of course it depends on the TYPE of PROPERTIES
The main strategies
The main strategies I have been using are:
I have used some of these as well:
Very unusual strategies
These are advance strategies that requires a very good local team:
Keep in mind that there are many other strategies, these are the ones that most people use. As we move along, we will study all of these Strategies and find ways to apply the best strategies to the property at hand.
I will be using real life examples.
There are many strategies in Property, no strategy is superior, as these strategies can lead to significant ROI (Return On Investment) depending on the location, the time of the year, legislation, interest rates, acquisition related cost and many other factors.
The key is to have more than one strategy for every pieces you buy.
We will review those strategies in the coming posts
Inspired by NP
If you have been wanting to purchase a property, take a few moments to devise your 3 or more exits strategies for that particular building.
If you do not have a particular building to purchase in mind, do the same exercise for each and every building you own, including your home. Interesting Exercise