Hello BP community. I might come across my first investment soon. So, I am trying to gather my exit strategies to prepare myself if the house does not sell (fix-n-flip) . At this point of my research the exit strategies that I have read of are, refinance and rent out or keep for my self to live in. I am sure there are others but I have not come across them yet. If anyone can provide any other ideas I would really appreciate the help. Thank you BP community happy investing.
Other options is owner financing, lease options, and airbnb
Not sure if this applies but maybe corporate housing, registering home to film commission of the state for movie, tv, and photo shoots, and rent out your roof to energy companies.
How you buy and own a property will impact what exit strategies are viable. If you own in cash, you have far more options than if you have $40 K in credit card debt to support the refi.
The big ones are listed above: turn into a rental, move in, or get creative with seller financing (e.g. lease options). As a fourth, some people forget that dropping the price is always an option. This may eat away your profit, or even run you in the red, but if you need to move the property - that's always a way to move the property.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!