Episode 6 - Project #3: Multiple Exit Strategies
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
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.
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.
Key Takeaways:
- If the deal is good enough, the money will come
- Have multiple exit strategies for your investment properties
Episode Resources:
Check out our Master Class and learn how to start or scale your real estate investing career the right way
Follow Duratus:
- Website: https://www.duratusacademy.com/
- Newsletter: https://duratusproperties.activehosted.com/f/20
- Facebook: https://www.facebook.com/DuratusProperties/
- LinkedIn: https://www.linkedin.com/company/duratus-properties/
- Twitter: https://twitter.com/duratusp?lang=en
- Instagram: https://www.instagram.com/duratusproperties/?hl=en
- YouTube: https://www.youtube.com/channel/UCKftkw4eAzd4DPBGIXruo1g
- Pinterest: https://www.pinterest.com/DuratusProperties/
- TikTok: https://www.tiktok.com/@duratusproperties
Follow Maura:
- Facebook: https://www.facebook.com/profile.php?id=5320733
- LinkedIn: https://www.linkedin.com/in/maura-mcgraw/
- Twitter: https://twitter.com/maura_mcgraw
- Instagram: https://www.instagram.com/maurakmcgraw/
- Pinterest: https://www.pinterest.com/mauramcgraw/
- TikTok: https://www.tiktok.com/@realestatemamma
- Bigger Pockets: https://www.biggerpockets.com/users/mauramcgraw
We also have an AWESOME newsletter that you can subscribe to here