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.