When you’re just starting out investing in real estate – one of the most important things you want to know is your exit strategy.
How in the world do you plan to get out of the deal?
Sure it’s one heck of an adrenaline rush when you’re wrapping up a deal, day dreaming about the potential profit, the wind blowing in your hair while you cruise with the top down in your newly purchased ride or the delight you’ll get by giving your boss the middle finger because now you’re a real estate investor…
Hold on just a second – you’re only half way there.
Knowing how to get out of the deal is more important than any other thing you’ll learn as a real estate investor.
It’s easy to get into deal – especially nowadays – people are begging for options.
So, I want to give you 3 quick tips for nailing down your exit strategy so you’re not left holding the bag…
Exit Strategy Quick Tip # 1 – A Bird In The Hand Is Better Than Two In The Bush.
Have you heard this before?
It means if you’ve got a buyer today – take it. It’s better than waiting on another buyer that will possibly bring you more money than the current buyer.
Wrap the deal up and move on to the next one. There’s no shortage of deals, so turn your quick profit, and move on to the next deal.
Exit Strategy Quick Tip # 2: Target Your Marketing
Most everyone talks about marketing for motivated sellers, however you’ve got to have a separate marketing system in tact to attract buyers. And remember the message must match the target market. So, for example – let’s say you’ve got several wholesale deals lined up and all you need is buyers. Appeal to the investor with your ad that says something like this:
Must Sell – Motivated Seller
3BR 2Ba, Brick Home In Your City
Appraised at $80K, Asking $45K.
Needs Work. Call XXX-XXXX
or you could say – Call our 24 Hour Property Hotline Toll Free at 1-800-XXX-XXXX
Investors are mainly looking at the numbers – so craft your ad to appeal to their greed. By the way – what does every Real Estate Info Guru teach to look for when looking at House For Sale Ads?
The words – must sell, motivated seller, facing foreclosure. You’ll get bombarded with buyers when using these words in your ads.
Exit Strategy Quick Tip # 3: Build A List.
The quicker you can start building a list of buyers, the more financially secure you’ll be. For starters, I would recommend targeting investor buyers for several reasons –
1- they’re actively looking for houses.
2 – they can come up with the cash
3 – they don’t care what the deal looks like cosmetically.
Now – when I say build a list, I’m primarily referring to building your online email buyer’s list.
You’ll need your own real estate investor website which I show you how to build your own if your on a shoestring budget. You can access those tutorials by clicking here.
Next, for $20 a month, you can get an aweber account to collect your prospects information so that you can send email newsletters, built in autoresponder messages, and continue to communicate with them with just a click of a mouse.
I recommend Aweber because it works. After testing numerous autoresponder – email service providers, Aweber has the best deliverability hands down and you can test it with a 30 day trial for only $1 by clicking here.
Once you build your email list of highly targeted buyers – you’re well on your way to having the ability to sell houses in a matter of minutes.
Shoot me over your comments in the section below…