REI Wealth Monthly Issue 07 | Page 63

NEVER TOO EARLY FOR AN EXIT STRATEGY! BILL WALSTON tephen Covey is the first person I remember hearing say “Begin with the end in mind.” And while Covey was referring to his “seven habits” and to leadership, beginning with the end in mind can just as easily be applied when we invest in real estate. I believe, and teach, that the first step any investor should take when investing is to determine an exit strategy. This often surprises people: Why start with the end? The reason is that as an investor we must be sure to purchase the right type of property for the exit strategy to work. Time and time again, I have seen investors fail because their goals and plans do not fit the properties they are buying, or do not work with the way they have structured a deal.