So you’ve done all your due diligence and have finally taken the plunge into real estate investing. If you haven’t gotten cold feet by now you either have the deed or a contract.
Having a plan that takes you from the purchase all the way through getting paid, is know as the exit strategy. Your exit strategy is developed with multiple scenarios ranging from the most optimistic, I’ll call this the “happy path” all the way to the absolute worst case aka “meltdown”.
The exit strategy and all the various scenarios is developed BEFORE you commit significant dollars. My definition of significant is anything over $250!
The following is a growing list of EXIT Strategies:
- Sell the property on The Deed XChange™ even if you bought it off our site, add ALL your due diligence proof and find a new buyer! Why not? it’s FREE!
- Send a letter to all the neighbors that your looking to sell
- Put up a For Sale By Owner sign
- Tip: Get a Google Voice phone number for that area code. It’s free and put that number on the sign. It will then rign to whatever phone you choose.
- Post on Craigslist
- Post 3 times per day using multiple accounts
- Create an HTML flyer code and Text Only ads (see Google for details)
- Headline in all UPPER CASE
- Contact EVERY “We Buy Houses” listing on Craigslist for that area
- Be prepared that many are newbies and really do not have buyers, so screen them well.
- Contact the President of the local Real Estate Investors Club
- Contact HomeVestors.com
- For land post it for sale on LandWatch.com
- Contact Auctioneers
- Rent it
- Live in it
- Know it down and start over
- Modular or mobile homes can sell or rent fast
- Donate it and tax the tax write off
- Contact the previous lien holders and offer to sell it to them (you get this from the county)
- Create your own website
- Drive traffic to your site
- Video Syndication
- Create a property flyer and syndicate
- Postlets.com create free account
- Market on
- Facebook forums; Fan, Group pages
- Zillow Rental Manager
Please add any others I’ve missed in the comments.
Hope this helps!
As always, here’s to your continued success.
Creator of The Deed XChange™