Operations
Your operations define your long-term success in real estate investing. Fine-tune your process with: Asset Management | Asset Protection | Deal Analysis | Fundamentals | Growth | Lead Generation | Risk Management
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Operations
Your operations define your long-term success in real estate investing. Fine-tune your process with: Asset Management | Asset Protection | Deal Analysis | Fundamentals | Growth | Lead Generation | Risk Management
Back To: All Topics
The act of adapting something that was used for one purpose to serve a different purpose ...
The action or process of converting waste into reusable materials. These materials may be less expensive or more durable than new materials, but not always ...
A realtor, as defined by the National Association of Realtors (NAR) is a federally registered collective membership mark which identifies a real estate professional who is a member of the NAR and subscribes to its strict code of ethics. The NAR emphasizes that the term Realtor(R) may only be used ...
Any professional offering a service related to real estate or whose business model revolves around any part of the real estate investing process. Real estate professionals include agents, property managers, general contractors, and real estate investors ...
A legal instrument used to transfer interest in a property. A quitclaim deed does not necessarily ensure clear title, since a grantor can sign a quitclaim deed even if they have no interest in the property ...
A legally binding agreement that allows a buyer the option to purchase something at a predetermined price on or before a predetermined time. These options have real value and may be bought and sold independently of the purchase item in most cases unless the option excludes this ...
An agreement between a buyer and a seller of a piece of real estate defining the terms under which the transaction may be completed. In some cases, this agreement may be assigned to another party ...
An individual in charge of regular maintenance of a rental property ...
Personality Profile Assessment
A short, standardized, objective assessment designed to help employers, managers, and team captains assess whether current and potential team members have the aptitude and affinity for specific tasks, projects, and roles in the company and on their specific team ...
The amount of work that each dollar you invest “costs” you a property. For example, a typical vacation rental has a high PPD because it requires a great deal of maintenance. Corporate housing rentals tend to have lower PPD because the tenants take good care of the properties in most ...
A property representing a potential deal for an investor located without the property being formally listed for sale. Off-market deals may include pocket listings, which are not listed on the MLS, as well as leads generated by mailings and other forms of motivated-seller solicitation ...
Net operating income (NOI) is the annual income generated by a rental property after subtracting all expenses from operations. Note: NOI does not factor in your financing costs. The cash flow left when you subtract all reasonable and necessary operating expenses from your property’s revenue, excluding principal and interest on ...
Multiple Listing Services are used by real estate brokers, agents, and other licensed professionals to cooperate on the purchase, sale, listing, and appraisal of homes. These services are often referred to as “The MLS,” but multiple listing services are often regional and do not include all properties for sale in ...
Multiple Listing Service (MLS)
Multiple Listing Services are used by real estate brokers, agents, and other licensed professionals to cooperate on the purchase, sale, listing, and appraisal of homes. These services are often referred to as “The MLS,” but multiple listing services are often regional and do not include all properties for sale in ...
Reminder notices sent to tenants via multiple communication avenues. For example, you might send a letter in the mail, an email, and a text message to a tenant to remind them that rent is due and make payment as easy as possible ...
An agreement between a tenant and property owner that permits the tenant to rent from the owner one month at a time rather than via a more extended lease agreement. Often month-to-month tenancies are more expensive since the landlord does not have the same stability that comes with an extended ...
The amount that a property may be sold for in the marketplace. Market value may be derived by comparing a property to other similar properties that have sold recently or by attempting to determine the price at which a property would sell immediately. While both may be referred to as ...
The agreement between the owner of a property and a tenant (lessee) that defines how the property will be used by the tenant, for what period of time, and how the owner will be paid for that use. The lease also details the property owner’s obligations to the tenant and ...
An individual who owns a rental property. Sometimes the term landlord is used to indicate a rental owner who actively manages their rental property, but the term includes both active and passive rental investors ...
An agreement between two or more parties whereby one party (the trustee) agrees to hold ownership of a piece of real estate for the benefit of another party (the beneficiary) ...
A calculated value that shows where home prices should be according to local income. Income price metrics are used to help determine whether a market is over- or underpriced, and are based on data from the FHFA Home Price Index and the Bureau of Economic Analysis. This metric was developed ...
Also sometimes referred to as horizontal improvements. Includes zoning changes, mapping, clearing ground, cutting roads, installing utilities, and paving roads, sidewalks, and gutters ...
An investment “strategy” that relies more on an investor hoping there will be profits rather than strong numerical indications a deal will succeed ...
The act of improving a property’s appeal to buyers using art, accessories, lighting, greenery, carpet, furniture, and other home décor items to create an attractive first impression of the home ...
Your Development Is a Process, Not a Destination
Real estate investing is a complex and multifaceted field that requires a high level of knowledge and skill to be successful. Although some individuals may be able to navigate the market and find profitable deals through trial and error, most real estate investors aspiring to any reasonable level of success ...
