Exit 1In working with commercial real estate investors oftentimes as part of the investment strategy we discuss exit strategy. You know, how long to you plan to own the business? How long do you want to own this income producing asset, etc.? And then how do you plan to dispose of it.

In our personal real estate careers, careers in general, and life overall, there are phases and you don't want to end up saying

I Have That Exit Strategy Somewhere Here In My Bag.

In other words, they and you, are essentially saying you are CLUELESS.

I'm here to tell you that it is all right. The first step in stopping being clueless is to know you are clueless. In today's busy world who has time for planning one step ahead even? Well you really should best you can. Life can throw all those detours and roadblocks in our way of course but if you put in your bag at least a small map of where you are going scratched out on a napkin the next time you are in Starbucks, you will be way ahead of the masses.

Think of the exit strategy as the point in time where where you are closing the one door and the next door (your plan) is where you are headed. There is a fun quote that says when one door closes the next one opens, which is all well and good but the hallways are bitches (pardon my French) <Smile>.

In life make time to plan, do it at the Starbucks, on your summer vacation, under the night sky, in your recliner with the TV off, but do take a little time to map out those exit strategies.

Exit 2

Oh, and by the way, there are some instances you don't have all day to plan your next step, and you have to think quick on your feet.

Like getting out of a speeding ticket <Smile again>.

 
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21 Comments on I Have That Exit Strategy Somewhere Here In My Bag

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JUN
30
2009
318,477 Points

I'm with you we need to always be thinking one step ahead it could save us sometime in the long run.

4:10pm • #2
639,267 Points 39 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I think our exit strategies have changed more often that the market!  Lee and I have a hard enough time planning our vacations nowadays!  But as always - very good advice...  <<aren't women fierce???>>>

4:12pm • #3
512,885 Points 44 Featured Posts Outside Blog Hit Router Attended Rain Camp Called Shot Master

Gary - I must admit I love Thom and Ray's comment, because I was just thinking of this when I read your blog. Exit strategy/plan, I know, we all should at one point have one. Honestly, I don't and I have not thought about one in a long time. Too busy, I guess :)

4:31pm • #4
493,908 Points 75 Featured Posts Outside Blog Called Shot Master

Gary - I also can identify with Thom & Ray's comment;)  I firmly believe an Exit Strategy is essential in business and in life... though I'm not promoting doing anything too severe on the latter, if you know what I mean.  That list picture is truly priceless.

4:56pm • #5
242,350 Points 2 Featured Posts

Let's see, I put that exit strategy somewhere...where was it...where did I put it....Oh Man!  I can't find it.  I better get going on this.  Great post as usual, Gary.

4:56pm • #6
920,867 Points 81 Featured Posts Localism Sponsor Called Shot Master

Gary, Planning and preparation are essential...like the woman in the 2nd picture! I think she was definitely planning ahead!

5:14pm • #7
467,812 Points 40 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

I completely agree with not only an exit strategy but, as you say, a plan that must include alternative courses of action. I was going to add one other thought but for some reason was distracted by that last picture...

5:42pm • #8
471,280 Points 26 Featured Posts Localism Sponsor Called Shot Master

I don't have an exit strategy yet Gary, I'm still trying to get the damn door open. LOL!

6:06pm • #9
1,227,276 Points 79 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Gary,

An exit strategy is essential but I'm a firm believer there are detours that come along and you must be able to veer off and not worry over those alternative courses. It is what it is and things will work out. Planning is good but living life as Gods plan is better.

6:57pm • #10
1,157,830 Points 38 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Gary, Loved the last picture and wonder why I never thought of that!  I make plans but don't count on them...what is that saying, Man plans and God laughs?  It's something like that and I find it to usually be true :)

7:39pm • #11
620,899 Points 8 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Love your photos! We should always have an exit strategy A and exit strategy B. I think I am sometimes way too much with all of the possible exit strategies!

7:49pm • #12
814,796 Points 164 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Exit strategy huh? Now I have to work on that. You have been way to busy, LOL. Thank you oh Obi wan... :D

8:11pm • #13
512,629 Points 1 Featured Post Outside Blog Called Shot Master

Gary, you have been showing us your naughty side lately!  Having an exit strategy is a great idea but very few people think about it!

8:34pm • #14
1,330,750 Points 189 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Thom: It's 5 o'clock somewhere. I like that.

Pat: At least one step ahead you are right helps.

Pamela: I agree, women are just too smart with those darn powers they have.

Petra: Work on a plan sometime just to have it as a contingency.

Jason: Edgy Gary in the daytime.

Heather: Don't feel bad, I think we all misplace or don't think about what we will be doing NEXT!!

Wanda: That woman was a real fast thinker.I think women work their way out of more tickets than men even just batting their eyelashes.

Russell: Sorry for the distraction. It got my attention too. That probably happens more with the cops than we might think.

Mary: Kick that darn door!!

Dorie: I agree that living God's plan is better. He does laugh at our plans I believe, but we keep trying.

Carole: I'm giving you ideas for your speeding tickets? Hope it works out for you. <Smile>

Eileen: I like the idea of multiple exit strategies.

Andrea: I try to stay busy and let that hyper brain spill onto the pages here.

Shirley: You are making me laugh. I jazz up a post now and then and move into PG-13 territory. Those that hang around me in the Rain say Edgy Gary makes an appearance LOL. Don't want to get stale, but I have shocked a reader or two along the way.

9:16pm • #15
1,329,562 Points 37 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Gary

I agree that we need an exit strategy, but I don't have an exit strategy for a ticket.

Lou Ludwig

9:49pm • #16
465,882 Points 9 Featured Posts Called Shot Master

Smiling at that last photo <SMILE>

10:19pm • #17
1,210,622 Points 118 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Gary,

We do not have money (enough), time (enough), and exit strategy (at all). Actually, the more money you have, the less exit strategy you need, but then again, you need time to convert it to money.

And here I lost myself

 

11:26pm • #18
JUL
01
2009
1 Featured Post

I had an exit strategy but the world changed. Hmmmm. Perhaps I should have been a cop!!

9:54am • #19
JUL
02
2009
559,078 Points 91 Featured Posts Outside Blog Attended Rain Camp

Gary,

I don't know about an exit strategy but I wonder if the cop gave her the ticket...probably not:)

4:02pm • #20
JUL
03
2009
301,384 Points 55 Featured Posts Localism Sponsor Outside Blog

GAry - You unleashed the inner Gary again! Love it. I always try to have an exit strategy, but unfortunately as I get older it's not so easy to get off on the traffic ticket.  

7:43pm • #21

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Gary Woltal - Assoc. Broker REALTOR® SFR Dallas Ft. Worth

Flower Mound, TX

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