Posted by B.L.Renfrow on July 01, 2003 at 01:09:42:
Obviously that depends on how you are obtaining it. If you are taking it subject-to with good financing in place, that offers more options than if you are buying with cash using high-interest hard money.
Typical exit strategies would include:
–Sell for cash to an owner/occupant
–Sell on a land contract
–Lease option to a tenant buyer
–Use it as a rental
Probably numbers 2 and 3 would offer the highest profit potentials, but there are too many variables to say for sure without seeing a particular deal.
once you have obtained a property from a seller at a good discount, besides wholesaling the deal to an investor for a fee what else can you do with the property to obtain maximum profit, keeping in mind that I do not want to get involved in any rehabbing.
Well your comments say that you have to be dealing in junky properties. So I will go with that. You could always try the old “sweat for equity” sales method. There are plenty of people who want to buy a house and do the fix up themselves. “As is Fixer” could work too.
Hope it helps