Going to the next level investing. Up until now the road to buying a primary residence and buying an investment property have been the same so far. For investors this is where the game starts. For a investor planning is the key. In the beginning the most important planning is the ending. It sounds funny but if you want to be successful think backwards, start with whats call your exit strategy.
What is an exit strategy? An exit strategy is your ending goal or plan of how you will profit from the property.The two most popular exit strategies are buy and hold or flip. The buy and hold strategy is buying a property for the purpose of holding it to rent or lease. The simple version of buying to flip is purchasing a property for the purpose of selling it for a higher price in the near future. Your exit strategy is important because it will have an impact on what type of property you look and how you do your due diligence.
Assuming you have chose an exit stratergy and have outlined a preliminary budget ( real estate 101). Time to start looking for a property.
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