Improved Exit Plan Shopping
The best investors in real estate always work the deal backwards. That may sound rather strange, but if you don't know where you want to end up, how can you start doing something and be sure you'll end up there?
I call it the "Exit Plan": figuring out first what results are desired, and when are they desired, and what it will take to get them.
Before a smart investor buys a property, the following questions are carefully considered and reliably answered ideally mirroring reality as close as possible. Only then is it likely the investment will achieve the desired results.
Below are some key questions necessary for a solid Exit Plan:
1. What final results are desired?
2. How long will it take to get these results?
3. What will it cost to get these results?
4. What is a reasonable exit price?
Unrealistic answers to these questions have tripped up lots of investors, causing losses instead of the desired gains. It is imperative investors work closely with those experienced in each aspect of investing, to get as reliable answers as possible to each of these questions.
After the answers are determined, then an investor will better know what the property must be purchased for to achieve the desired results.
CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents. She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She can be contacted at (707) 578-5727, firstname.lastname@example.org, or www.cjholmes.com