I have an exit strategy.
Bill has an exit strategy.
Garrett has an exit strategy.
Bob has an exit strategy.
Miki has an exit stategy.
NONE OF THEM ARE THE SAME
None of them pertain to exactly the same subject.
All of them result in reducing risk.
What is your question?
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
For real estate; especially in real estate investing -- it means you have a way out of a deal.
Either by renting , selling, holding, sharing, or finding the financing for your deal. You have to know how you are going to conclude the deal. This is important to those who may loan or give you money. They want to know how they will get their money back. They want to know if you know how to get their money back. This is one of the most important concepts in real estate investing. This is how you get paid.
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
An exit strategy is a means of leaving one's current situation, either after a predetermined objective has been achieved, or as a strategy to mitigate failure.