You’ve just won a property at an auction. The adrenaline is still pumping through your veins. Now what? You’ve got options, but time is ticking. Enter the 30-60-90 rule, a timeline that could be your roadmap to real estate success.
The First 30 Days: Sell As-Is
The clock starts ticking the moment you win that bid. For the first 30 days, your goal is simple: sell the property as-is. No renovations, no emotional attachment—just a quick sale. Why? Because the faster you sell, the quicker you can reinvest your money. And in this game, speed is everything.
The 30-60 Window: Crunching Numbers
If the property doesn’t sell within the first 30 days, it’s time to get serious. You start crunching numbers, doing inspections, and figuring out the cost of renovations. This is the phase where you decide whether to flip the property or explore other exit strategies.
The 90-Day Goal: Exit Strategy
By day 90, your goal is to exit the property. Whether you’ve flipped it, rented it, or sold it as a turnkey investment to another investor, the objective is to move on. Sometimes it takes a little longer, but that’s okay. The key is to have multiple exit strategies so you’re never stuck holding the bag.
The Power of Three
Never buy a property unless you have at least three exit strategies. This is a golden rule that can save you from a lot of headaches. Whether it’s flipping, renting, or selling as-is, having multiple options gives you the flexibility to adapt to market conditions.
The Wetland Bank: A Creative Strategy
Real estate is not just about houses and apartments; it’s also about land. Did you know you can buy wetlands and start a wetland bank? This is a creative strategy that can offer lucrative returns. It’s just another example of how being passionately curious can open doors to new opportunities.
The Final Word
The 30-60-90 rule is more than just a timeline; it’s a strategy for success. It gives you a clear roadmap, helps you make quick decisions, and keeps you focused on your ultimate goal: to make money and move on to the next opportunity.
