We’ve been outlining the 8 Steps you need to take as a beginner to get your real estate investing business off to the quickest start possible:
- Understanding Real Estate Cycles
- Identifying the Key Indicators in Your Market
- Building Your Power Team
- Making Offers
- Finding Financing Sources for Your Deals
- Implementing Finding Strategies
- Understanding Exit Strategies
- Constantly Learning and Mastering Your Craft
In this final installment, we’ll be looking at Steps 7 and 8.
Step 7 – Understanding Exit Strategies
To effectively get started in the investing business, you must understand exit strategies and how to use them to get into and out of deals profitably.
Every property that you encounter is a different situation. Each one has a different need, a different financing challenge and one or more appropriate exit strategies. The more exit strategies you know and master, the greater your chances of success as an investor!
For starters, make sure that you have a sound understanding of wholesaling, lease options, seller financing, rental properties, and rehabbing. These exit strategies will provide you with a solid foundation to be able to put together deals that are profitable for you and helpful for sellers. (Rich Dad Education’s Elite Training courses are designed to give you detailed instruction in each of these areas.)
Step 8 – Constantly Learning and Mastering Your Craft
Like most things in life, learning is a journey and not a destination. Truly savvy investors realize that they must remain in constant search of new ideas and information if they want to stay one step ahead of their competition.
Rich Dad Education offers classes, a Mentor Program, and personal coaching that are designed to help you realize your full potential as an investor and entrepreneur. We also encourage you to utilize many of the resources you have, from your local library to the Internet, to stay up-to-date on current market conditions and strategies.
As you continue on your path to financial freedom, get help as you need it.
By Mark Justice
Rich Dad® Education Elite Training Mentor