Mastering Real Estate

Episode 6 - Project #3: Multiple Exit Strategies

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Episode 6 - Project #3: Multiple Exit Strategies 

Deal Details

  • Address: 3613 Oakwood Drive, Adamsville AL 35005
  • Type: Flip
  • Year: 2018
  • Timeline: 5 months
  • Project Cost: $62,000
  • Purchase Price: $55,000
  • Rehab: $6,620
  • Sales Price: $106,000
  • Profit: $40,000

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    Losing A Lender

    • In the initial stages, Maura faced adversity as her hard money lender backed out a week before closing. This forced her to quickly learn how to pitch to and find a private investor to fund the deal–a tough but very valuable lesson. 

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      Always Have a Backup

      • Losing my initial lender also taught me always to have a backup plan–not only for my financing but for the investment as a whole. This particular project was a great flip, but could have also easily been a buy-and-hold rental property. The fact that we had a backup plan for the property was key in securing last-minute private funding for the deal. 

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        Key Takeaways:

        1. If the deal is good enough, the money will come
        2. Have multiple exit strategies for your investment properties

          3. Episode Resources: 

          • Slideshow Link
          • After Photos

            • Check out our Master Class and learn how to start or scale your real estate investing career the right way

             

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                Mastering Real EstateBy Maura McGraw
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