When Do You Cut Bait and Run? » REI In Your Car » 1279

In this business, you’re going to come across a bad deal every now and then. I recently had a coaching client ask me when they should get out of a bad deal, and here, I share my answer. A lot of people were really hurting back in '08, and the scenario may happen again. The last thing you want to be dealing with in a time of crisis is a property that’s hurting you. My advice is to get rid of the deal and cut ties with it as soon as possible. You might think you’re Superman and think you can turn it around, but nine times out of ten, things are going to get even worse. Getting out of the deal might involve taking a hit up front, but you’ll save yourself time, money, and a ton of headaches in the long run.If you want to learn how to do more deals, head to DealsWithJoe.com. For just seven bucks, you’ll get access to all the steps I’d take if I were to rebuild my own real estate business from scratch with no money and in a brand-new market. You don’t want to miss it!What’s Inside:—How and when to cut a bad deal loose.—How to find deals through a direct mail strategy.—Info on how to get my step-by-step process for doing deals.