It is clear from the above explanations that profit-oriented real estate investment begins with a precise examination of the real estate in question (due diligence and contaminated site inspection) and an optimum holding structure (direct or indirect real estate acquisition/use of DTA’s etc.). By skilful organisation of real estate acquisition, return on investment need not be generated from optimisation of use, favourable refinancing or a high resale price alone. Rather, the objective of gross or net profit is placed in the foreground. The EXIT often offers potential for optimisation too; however in the main the direction for this is determined, firstly, during the acquisition process and, secondly, during the holding period. If one or the other direction is not set correctly, other than achieving a good selling price not much more can be optimised with regard to the EXIT. What is needed, therefore, from the start, is an integrated strategy which must also be lived and breathed and should not be changed unless absolutely necessary.