BiggerPockets

I am am a buy and holder, too. If for some reason I want to or need to exit, I'll sell. There are different ways to sell, but it boils down to what price do I have to ask to get a buyer. So most simplistically, my first exit option is not to exit. My second option is to sell close to retail. My third option is to sell for a price that will guarantee it moves.

Jon covered the key points. You can also sell on contract, via a wrap note, using a note if you own free and clear, etc.

I think the purest form of buy-and-hold investors generally intend to hold the property indefinitely to produce cash to supplement or replace their income.

Our grand master plan is to 1031 exchange two of our rental properties into a pair of retirement homes. After renting those for about a year, boot the tenants and move in ourselves.

Our other properties we intend to simply hold on to or 1031 exchange into better paying properties and enjoy the income during retirement. Unless we really need the cash, I don't see a reason to liquidate and share our hard-earned profits with Uncle Sam.

Everything will ultimately be "owned" by our trust, so it will pass down to our daughter which we hope to educate about the benefits of real estate investing. May her life be easier than ours.

Thanks for the replies everyone.

Its funny because sometimes I read these posts that say things like: "Oh man...I couldnt sell so now Im renting it and Im getting $700 monthly for it..."

Then, I think to myself: "I wish I had your problems!"

Now I understand better. It seems like 'exit strategies' are really for those who do not intend to hold long term.

For myself, to begin, I will be holding long-term.

thanks again everyone.

Jonathan,

Lately I have given this more thought long-term. They say many people don't choose when to retire. Having long-term real estate is a safety net for unexpected financial happenings. I guess I will sell my core holdings when I run out of money, when I am old.

Some properties are keepers that seem to take care of themselves attracting great tenants. These are my core properties. Others either turn bad after time or just never seem to go well. These are the ones I have sold. I don't have time or patience for ongoing problems.

Starting, I had never intended to sell, but market conditions can change and newer purchases can be more difficult. Vacancies with mortgages can be hard. Sometimes scaling back becomes more fun.