Exit Strategy is how are you gonna get out of your property or what are you gonna do with it if you keep it. You have to think of your exit strategies before you buy a property. As a professional investor, you need to have at least two exit strategies for each property investment you acquire. The more exit strategies you have, the better.
Jochen explains some examples of exit strategies in this video blog. An investor can resell the property, flip the property, rent it out to a tenant acquiring a passive income, transform the property to an HMO (House of Multiple Occupancy) to rent out or change the use of the property like turning a commercial property to a residential one.
Always remember to do your due diligence and homework. Prepare at least two exit strategies before you buy a property. In case one doesn’t work you have another option as fallback to use instead so you don’t get caught out by the market.
Watch the full video as Jochen discuss what an exit strategy is and the importance of having more than one.
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