Think Realty
In real estate, the term underwriting is usually used in reference to underwriting a mortgage loan, specifically. Underwriting is the process a lender uses to determine if the risk associated with lending to a particular borrower is acceptable. Generally, loans are underwritten based on the borrower’s credit, the amount of ...
A real estate investment purchase rent-ready, often with a tenant already in place paying rent. A property purchased for the express purpose of renting it out. A turnkey investment may already have a tenant in place, or a turnkey provider may sell a property with the promise of an appropriate ...
An investment company that offers turnkey properties or transactions to other “passive” investors. Turnkey providers locate properties, renovate them, usually place tenants, and may provide property management after the purchase ...
A turnkey property has historically been defined as a piece of real estate that can be purchased as-is and immediately rented out. Turnkey has expanded in recent years to include anything that can be conducted from a distance (i.e. a turnkey fix and flip) and generally refers to rental properties ...
A tax-favored retirement account that provides a tax deduction for contributions and tax-free compounding of profits. Income taxes are due when withdrawals are made ...
The process of researching the history of legal ownership for a specific property and identifying any existing claims on that property. Claims may include ownership interests, judgments, and liens ...
An insurance policy that protects the holder of the policy, who may be a real estate owner or a lender, from financial loss due to defects in the title of a property ...
A loan with a specific repayment schedule and a fixed or floating interest rate ...
An auction at which investors bid on properties with delinquent tax liens. In some states, investors pay a price for the lien, while in others, investors may bid down the interest rate on the lien ...
Government entities place liens against properties to compel the owners to pay back taxes. If the taxes remain unpaid, then that lien may be used to seize the collateral (property). When you buy a property tax lien, you pay for the right to collect the lien and associated fees and ...
The connections in a kitchen that supply utilities including hot and cold water and natural gas. When you remodel a kitchen, you need to make sure that the supply lines are equipped to handle the volumes that upgraded appliances and layouts require ...
Single-Family Residential (SFR)
A designation used to describe real estate used for living space by a single household ...
When a buyer purchases a property subject to the existing mortgage. The buyer agrees to make the payments on the property and the seller transfers ownership but is still legally responsible for making payments on the property ...
A relatively small, economical residence that meets the requirements of a first-time homebuyer. Usually these properties appeal to younger buyers, but the aesthetic requirements for starter homes have changed as millennial buyers often delay their first home purchase until they are in their 30’s ...
An investment strategy revolving around the purchase of single-family real estate. Single-family investing usually is assumed to involve the purchase of single-family residential real estate for rental purposes ...
When a distressed homeowner sells a property for less than the amount due on a mortgage with the endorsement of the lender to a third party. All proceeds from the sale go to the lender and the seller is not permitted to experience financial gain from the short sale process ...
Seller financing involves the previous owner of the property, the seller, making a loan to the buyer so that this individual can purchase the home for sale. This is a legally binding note that usually holds the home as collateral. Sellers may do this in order to sell quickly, obtain ...
A retirement account that allows the account holder to save money for retirement in a tax-advantaged way while investing their savings in nearly anything they like, including real estate ...
When a self-directed IRA investor takes advantage of their position in a transaction to act for their own interests instead of those of the self-directed IRA ...
The market where home loans and servicing rights to those loans may be bought and sold by lenders and investors. Most home loans are sold on this market at least one time and usually far more frequently, over the life of the loan ...
Sales Comparison Approach – SCA
A comparison between recently sold local, similar properties and a property that you plan to list for sale. Usually, an SCA would be used to help determine a list price, but investors may use them to make predictions about market movements and decide whether a purchase is a good deal ...
Fall Maintenance Checklist (PDF)
Use this PDF to inspect and prepare your rental property exterior and interiors each fall for budget-saving routine maintenance and potential safety hazards. This fillable PDF template includes: Property address and date completed fields to keep track of multiple properties Checkboxes for for easy filling on tablet or mobile as ...
Summer Maintenance Checklist (PDF)
Use this PDF to inspect and prepare your rental property exterior and interiors each summer for budget-saving routine maintenance and potential safety hazards. This fillable PDF template includes: Property address and date completed fields to keep track of multiple properties Checkboxes for for easy filling on tablet or mobile as ...
Spring Maintenance Checklist (PDF)
Use this PDF to inspect and prepare your rental property exterior and interiors each spring for budget-saving routine maintenance and potential safety hazards. This fillable PDF template includes: Property address and date completed fields to keep track of multiple properties Checkboxes for for easy filling on tablet or mobile as ...
Winter Maintenance Checklist (PDF)
Use this PDF to inspect and prepare your rental property for winter and remind tenants of common winter safety issues. This fillable PDF template includes: Property address and date completed fields to keep track of multiple properties Checkboxes for for easy filling on tablet or mobile as you progress through ...
