Think Realty

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Green Roofs

Green Roofs

| Glossary | Operations
Also called eco-roofs and rooftop gardens. A green, growing vegetative layer of grasses, shrubs, plants, and/or trees. Green roofs may reduce rooftop surface temperatures in addition to improving storm-water quality and management ...
Good-Faith Estimate

Good-Faith Estimate

| Glossary | Funding
Also referred to as a GFE, this document includes the breakdown of estimated payments due when a mortgage loan is closed. Lenders are required to provide these documents in order to help borrowers make good decisions and comparisons between loan offerings ...
General Contractor

General Contractor

| Glossary | Operations
A home remodeling professional who manages and executes larger remodeling projects. General contractors (GCs) may work in commercial or residential construction and manage new construction as well as remodeling, renovations, and rehabs ...
Fully Distributed

Fully Distributed

The contents of an IRA that is considered fully distributed may be taxed in their entirety. They are no longer tax-protected by the IRA ...
Freedom of Information Act (FOIA)

Freedom of Information Act (FOIA)

A piece of legislation that grants public access to documents or other data in possession of a government agency or public authority. Real estate investors can leverage FOIA to get information on foreclosure properties ...
Foreclosure Receivership

Foreclosure Receivership

| Glossary | Funding
The receivership process typically begins when a property owner stops making payments on a property. The receiver is responsible for controlling the property and maintaining its value. These can happen in commercial and residential properties ...
Foreclosure

Foreclosure

| Glossary | Funding
The process by which a lender seizes collateral, in real estate usually a piece of physical property, on a loan as a result of nonpayment ...
FOIA Form

FOIA Form

You can fill out a FOIA (Freedom of Information Act) form for any agency record. There is no universal FOIA form, but most agencies and public authorities have their own form and their own department to service FOIA requests ...
Flipping

Flipping

The process of purchasing a property, adding value, then selling the property for a profit on a relatively short timeline. Also simply referred to as “fix-and-flip,” flipping may take a few weeks, a few months or, in some cases, upward of a year. However, this strategy involves selling on a ...
Fix and flip

Fix and flip

The process of purchasing a property, adding value, then selling the property for a profit on a relatively short timeline. Also simply referred to as “flipping,” doing fix-and-flip deals may take a few weeks, a few months or, in some cases, upward of a year. However, this strategy involves selling ...
FHA Loan

FHA Loan

| Glossary | Funding
A government-backed mortgage issued by the Federal Housing Administration (FHA). These loans tend to have lower interest rates and less-stringent qualification requirements than other industry loans. FHA borrowers pay for mortgage insurance to protect the lender from loss in the event of a default ...
Fannie Mae

Fannie Mae

| Glossary | Funding
The Federal National Mortgage Association (FNMA) is a government-sponsored enterprise (GSE) established to stimulate the housing market by making mortgages more affordable to borrowers. Fannie Mae does not actually originate mortgages. Instead, it purchases and guarantees them after origination in order to create more liquidity for lenders and, by extension, ...
Fair Market Value – FMV

Fair Market Value – FMV

An estimate of the market value of the property ...
Exit Strategy

Exit Strategy

| Glossary | Operations
Your exit strategy is the part of the deal where you cash out of the investment. Technically, buying and holding a property as a cash-flowing rental property is not an exit strategy, but a cash-flow strategy. However, as with an actual exit, you must determine how long it will be ...
Exclusive Agency Listing

Exclusive Agency Listing

| Glossary | Operations
An agreement between a listing broker and a seller permitting the broker to represent the seller and the seller to also represent themselves. If the seller is able to make the sale without the assistance of the broker, then no commission is paid ...
Escrow

Escrow

| Glossary | Funding, Operations
When an impartial third party holds something of value (in real estate, usually earnest money) during the progress of a transaction. If a home is “in escrow,” that means that the third party is holding the earnest money while the contract is negotiated and the deal is closed. Lenders may ...
Equity

Equity

| Glossary | Funding
Value found in an asset. In real estate, equity is the amount of value in an asset after the cost of the mortgage and other collateralized debts are deducted ...
Earnest Money

Earnest Money

| Glossary | Operations
Money paid to confirm a contract. If you back out of a contract on a property, you will likely lose your earnest money ...
Down Payment

Down Payment

| Glossary | Funding
The initial payment made when a property is purchased on credit. Down payments usually range in size from 5% to 25% of the value of the loan and may affect a lender’s decision to require mortgage insurance ...
Disqualified Person

Disqualified Person

The people and organizations with whom your IRA should never conduct transactions, including (but not limited to) yourself, most of your family and any business entities you control ...
Depreciation

Depreciation

| Glossary | Operations
Loss of value. In real estate, depreciation can be a negative or a positive, since it may be associated with tax deductions in some cases ...
Delinquent

Delinquent

| Glossary | Funding
Late. When a mortgage is delinquent, the borrower is late in making payments ...
Deed-in-Lieu of Foreclosure

Deed-in-Lieu of Foreclosure

| Glossary | Funding
When the borrower conveys all interest in their mortgaged property to the lender in order to satisfy a loan and avoid foreclosure ...
Deed-in-Lieu

Deed-in-Lieu

| Glossary | Funding
When the borrower conveys all interest in their mortgaged property to the lender in order to satisfy a loan and avoid foreclosure ...
Deed of Trust

Deed of Trust

| Glossary | Funding
A legal structure used in place of a mortgage to secure a loan by pledging real property. Deeds of trust involve three parties: the trustor (borrower), the lender (beneficiary), and the trustee, whose function it is to sell the property at auction if the trustor defaults on payments ...