When house flipping, everyone always seems to focus on the ENTER strategies – learning how to find properties, using wholesalers, wholesaling properties yourself, working through real estate agents, etc.
But not as many of us focus on the EXIT strategies of house flipping.
But sometimes, no matter how many solid exit strategies you may have, there will always be bad things that happen that you couldn’t have ever anticipated in a million years.
One of which happened to me just a few weeks ago…
If You Have an ENTER Strategy…You Better Have an EXIT Strategy
Exit strategies in house flipping or any form of real estate investing are nothing more than back up plans. If things don’t go the way you plan on your house flip, then you have to think of what is your back up plan or do you even have one.
I know the excitement and feeling you get when you buy a house, can’t wait to start the renovation to turn it into a beautiful home that you will be proud to sell.
It’s an awesome feeling, no doubt!
But of all the feelings you get in house flipping, the best one of all is after all your hard work has paid off, when you walk out of a closing with a really big check in the five-figure range.
***It’s funny because as I write this, it reminds me that I should probably enjoy those moments more thoroughly. The truth of the matter is that I am renovating so many homes now, I don’t enjoy it or maybe don’t take the time to enjoy it – nearly as much as I used to when I first started flipping houses. Whatever you do, don’t do this!***
Because when things really go wrong… they did just recently for me…how I yearn for that …read more