You’re missing out on huge profits if you don’t have an exit plan in place when you buy a property. Today we speak with real estate veteran, coach, and expert strategist Mike Morawski about maximizing your profits through solid exit strategies. After chatting about his extensive real estate background, Mike reveals his transition into helping people to scale their businesses while living a better quality and balanced lifestyle. We then dive into why exit plans are key to making money. Linked to this, Mike discusses how important underwriting is to figuring out what your options are with any particular asset. He shares his top advice on planning your exit, including how you can profit at the end of a project cycle without losing control of your asset. Later, he touches on what the best time to sell is, why you should never scale your business too quickly, and why looking at the right KPIs is critical to success. Everyone gets excited about owning assets but few can make the most money out of it. Tune in to learn about maximizing your earnings by having an exit plan for your assets.
Key Points From This Episode:
- Learn about today’s guest, real estate expert Mike Morawski.
- How everyone learns how to get into a business but never how to exit one.
- Capitalizing on when your project is at its most profitable.
- Mike shares his top lessons on going through a project’s full cycle.
- Ways to profitably exit a project cycle without losing control of your asset.
- Knowing when the best time to sell is.
- Why you should never scale your business too quickly.
- Hear about Mike’s asset management superpower.
“Everybody taught how to get in the business, how to buy an asset, how to find an asset, how to manage an asset but nobody taught us how to get out — or a strategy around that.” — @MikeMorawski2 [0:02:06]
“You take your profit when your profit is there.” — @MikeMorawski2 [0:08:04]
“Investors get way too excited about the market and being able to buy any asset. And they don’t look at the price point that they’re at.” — @MikeMorawski2 [0:09:58]
Links Mentioned in Today’s Episode: