Does anyone have a strategy they follow to determine wether to wholesale, flip, or hold a property?
I think it largely depends on where you want to take your business. What are your business goals? Are you looking for a quick buck, or are you looking to build wealth long-term? I know it may be the desirable route to see which option you think will yield more cash, but if your business model is to buy and hold, then you're misusing your time trying to figure out how the wholesaling process works.
I mean, personally, those three options are three different business models. You can be great at one of them, or okay at all of them.
In lower tier cf neighborhood I'd tend to hold.
Contract at a great value in upper-tier wholesale/tail or flip, but in this specific virus environ I'd tend to assign.
Be ready to do any or all depending on the specific deal. Don't forget LOs for sudden sellers of pretty houses.
@Daniel A. thanks for the thoughts my friend.
My niche is buy and hold. I’m in it for the long haul. I know it’s not a get rich quick. I have listened to multiple BP podcasts where the guest was speaking on multiple strategies.
@Steve Vaughan thanks for the direction. Makes sense.
Correction, my niche is single family and small multi-family. My long term strategy is buy and hold.
You said your long term strategy is buy and hold. This is a simple answer. Do you like the property you have and the area that it's in? Can you see yourself holding this for the next 5-10yrs? If so keep it if not sell it.
@Frank Wong thanks for the straightforward answer. Very helpful.