30 Days to Real Estate Cash 111
Trust but Verify – Working Toward the Exit Strategy As you speak with motivated sellers, you are moving closer to that next deal. If you believe you might have a deal in the works, you may be asking yourself what are the next steps. As you consider each deal, you should always know your exit strategy before you get your offer accepted. Your exit strategy is nothing more than what you will do with the property if your offer gets accepted. Once an offer gets accepted you will want to verify your numbers for value, repairs, etc. You want to ensure you have good comparables for each prop- erty you are considering making an offer on. Be sure to review all potential sold properties within your area. You want to de- termine how the foreclosures in your target area could affect pricing value. Even if you get a property at a great price, you may not neces- sarily have gotten a fantastic deal. It will depend on how much money you have to put into the property to get it updated and fresh. After the repairs are completed, we would refer to this as After Repaired Value (ARV). When it comes to calculating re- pairs, leverage your Power Team members to assist you in your estimates. You’re Getting the Secret Sauce! I hope you understand just how powerful this information will be in putting cash into your pocket. You’re learning strategies that the real estate agents don’t know. You’re learning techniques that 90% of all real estate investors don’t know about. I’m giving you the top methods here, but you can go to my site at HTTP4OTAL6IEW2EAL%STATECOM AND LEARN ABOUT MORE STRATEGIES that work just as well.
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