I Almost Missed the Better Deal...

[Jeremy Beland]

Every property teaches you something.

A while back, we bought a property with every intention of flipping it. We ran the numbers, put together the renovation plan, and figured we'd make around $50,000. It looked like a solid flip.

Then we took a step back. Instead of starting the renovation, we cleaned the property out, listed it as-is, and let the market tell us what it thought. Less than 30 days later, it sold. We made close to $90,000.

The extra profit was great, but that wasn't what stuck with me. What stuck with me was how quickly we got our money back. Instead of waiting several months to finish a renovation, we had our capital back in hand and were already looking at the next opportunity.

The longer I've been in this business, the more I've realized that the velocity of money matters just as much as the profit on a deal.

When I first started investing, I was always asking, "How much can I make?" Now I find myself asking a different question: "How quickly can I put this money back to work?"

Those are two very different ways of looking at a deal.

That's also why I try not to get too attached to any one exit strategy. Just because I planned to flip a property doesn't mean I have to. Markets change. Buyer demand changes.

Sometimes the best decision is to wholesale it. Sometimes it's a wholetail. Sometimes a full renovation still makes the most sense. The goal isn't to prove my original plan was right. The goal is to make the best decision based on the market I'm in today.

I've noticed something else over the past couple of years. Retail buyers are still buying—they're just buying differently. Many aren't looking for the highest-end renovation anymore. They're looking for a home they can afford today and improve over time.

If a property is livable, qualifies for financing, and has the right fundamentals, there may be more than one profitable exit.

That experience reminded me that building a business isn't about being right every time. It's about staying flexible enough to adapt when the opportunity changes.

I've found that the investors who build long-term businesses aren't the ones who force every property into the same strategy. They're the ones who evaluate every deal with an open mind and choose the exit that makes the most sense for the market they're in.

I'm curious how you approach it.

Have you ever changed your exit strategy after getting a property under contract? What made you change your mind?

[Janice Carter]

@Jeremy Beland Great lesson. Staying flexible and letting the market guide your exit strategy can often produce better results than sticking to the original plan. I also agree that the velocity of money matters. Getting your capital back quickly can sometimes be more valuable than squeezing out every last dollar on a single deal.