Different Exit Strategies

[Leeana Cordero]

Me and a couple business friends are getting into real estate.  We are trying to do a fix and flip or new construction. We are trying to find different exit strategies.  Also any information on first steps would be great.  I have two rental properties already but those were lived in and then rented out.  We are trying to do deals different ways to see what works best for us.  I just upgraded to pro membership so I could use the calculators to analyze deals.  We have a lot of leads and one of the partners is a real estate agent. Any suggestions?????????

[Richard Davis III]

For fix and flips, you're going to want to get really good at knowing how much repairs will cost with 15-30 minutes inside a property. You will also need to get really good at knowing the ARV (that might be the Agent's job it sounds like?).

The best way to find consistent flip deals is by doing direct mail marketing campaigns.

Do you have a contractor/crew lined up? Are you familiar with timelines for repairs/etc? Familiarize yourself with these aspects of flipping.

Lots to think about. Those are just a few things I came up with without knowing what you do/dont know already.

Cheers & good luck!