- What are mineral rights?
The rights to take things beneath the soil. Can be sold separate from the land. ...
- What are damages?
Compensation for an injury for which the law provides remedy. ...
- What are operating expenses?
Necessary expenses for the normal day-to-day running of a business or income-producing property. ...
- What does as-is mean if a property is being sold "as-is"?
A property offered with no guarantees related to its condition. Most bank owned properties are sold "as-is". This does not mean you do not have ...
- What are comparable sales?
Recently sold properties that will be compared with a property being appraised for the purpose of determining the value of the property in question. When ...
- What are Air Rights?
Historically, property owners owned to the center of the earth and to the top of the heavens, which included the right to the air above ...
- What are amenities?
Particular features that add value to a property, such as a whirlpool bathtub, sauna, or int he case of a condo, a workout facility. ...
- What are building codes?
Regulations established by a local government to specify minimum building standards. ...
- What are building permits?
A statement of permission, in writing, from a local government or agency allowing the recipient to build a particular structure at a particular site. ...
- What are carrying costs/charges?
The expenses necessary for holding a property. These may include interest and taxes on an idle property or one under construction. ...
- What are closing costs?
Expenses that a borrower incurs to complete the loan transaction, including title searches and insurance, closing fees, recording fees, processing fees, and other miscellaneous charges. ...
- What does condemned mean?
(1) A proceeding to obtain private property for public use through the exercise of the government's right to eminant domain. (2) A decision by a ...
- What does FSBO mean?
FSBO is short for "For Sale By Owner". ...
- What does indemnify mean?
To protect someone against damage or loss. ...
- What does Lis Pendens mean?
A Latin term meaning "suit pending." The recorded notice of a lawsuit’s filing. The outcome of the lawsuit may affect title to a real property. ...
- What does subject-to mean?
The title to a mortgaged real property is transferred to the buyer but the buyer is not personally liable for the payment of the amount ...
- What does subordination mean?
A clause or document permitting a mortgage recorded at a later date to recieve higher priority over an existing lien. ...
- What is a balloon loan?
A balloon loan is a loan with fixed monthly payments that will amortize it over a stated term (for example, 20 years), but requires an ...
- What is a bankruptcy discharge?
After a bankruptcy proceeding is completed, the debtor is released from an obligation to repay his or her debts. ...
- What is a bilateral contract?
A contract under which both parties are obligated to conduct certain deeds or tasks. ...
- What is a bird dog?
A bird dog is a person who identifies a beneficial real estate investment opportunity and passes information about the deal on to another investor for ...
- What is a blanket mortgage?
A single mortgage that covers multiple properties. ...
- What is a bond?
A written agreement from a bonding company. The agreement contains a guarantee that a person will properly carry out a specific act (for example, a ...
- What is a buy down?
A payment of discount points in exchange for a lower rate of interest. A buy down provides the lender with a greater yield immediately, in ...
- What is a cancellation clause?
A stipulation in a contract that gives one or both parties the right to terminate its obligations if a specific condition or event occurs. ...
- What is a capital expenditure?
The cost of an improvement made to increase the value or a property or extend its useful life, for example, by adding a new room. ...
- What is a capitalization (cap) rate?
The rate of return used to calculate the capital value of an income stream. To find the cap rate, net operating income is divided by ...
- What is a cash flow basis?
A calculation that shows when your monthly payment savings will exceed your estimated closing costs and discount points. The cash flow basis does not take ...
- What is a cash-out refinance?
A transaction in which the new loan amount exceeds the total of the principal balance of the first mortgage and any secondary mortgages or liens, ...
- What is a Certified Commercial Investment Member (CCIM)?
One of several designations awarded by the Realtors National Marketing Institute, an affiliate of the National Association of Realtors. ...
- What is a Certified Residential Broker (CRB)?
One of several designations awarded by the Realtors National Marketing Institute, an affiliate of the National Association of Realtors. ...
- What is a Certified Residential Specialist (CRS)?
One of several designations awarded by the Realtors National Marketing Institute, an affiliate of the National Association of Realtors. ...
- What is a chain of title?
A history of conveyances and encumbrances that are applied to a title. The chain of title may reach back to the original granting of the ...
- What is a closing statement?
An accounting of funds for a real estate transaction. This may also be known as a HUD-1. ...
- What is a cloud on a title?
An outstanding claim or other obstacle that would affect or impair the owner's title if it were valid. ...
- What is a collectors deed?
The holder of the Certificate of Purchase may apply for and receive a Collectors Deed to the property in the event that the property has ...
- What is a conforming loan?
A loan which meets the strict underwriting criteria and guideless of Fannie Mae, Freddie Mac, FHA or VA loans. These are typically low-interest rate loans ...
- What is a contingency?
A stipulation in the contract that must be met before it takes effect and becomes legally binding. Home purchasers often include a contingency that specifies ...
- What is a contract for deed?
A contract for deed is a real estate installment selling arrangement whereby the buyer may use and occupy the land or property, but no deed ...
- What is a conversion?
The act of changing a property to a different use or type of ownership. ...
- What is a cooperative (co-op)?
A type of ownership by several parties. The residents of a multi-unit housing complex own shares in the cooperative corporation that owns the property. Under ...
- What is a dealer?
A person who holds real property with the primary purpose of selling it to customers. A dealer treats his or her profit from a sale ...
- What is a Debt Ratio?
Also known as debt to income. The ratio of the total of minimum monthly debt payments to gross monthly income. If a person’s minimum monthly ...
- What is a deed in lieu of foreclosure?
A party returns a property to the original lender without opening up the process of foreclosure. ...
- What is a deed of trust (DOT)?
DOT's are similar to mortgages in that they serve as security for a loan by encumbering real estate. While a mortgage is between two parties ...
- What is a deed?
A written document that conveys a real property’s title to a certain party. This document must be properly signed, sealed, and delivered. ...
- What is a deficiency judgement?
A court order stating that the borrower is still obligated to repay a certain amount of money. Used when a loan’s security does not completely ...
- What is a dry closing?
A closing that is complete except for the disbursement of money and delivery of documents. ...
- What is a fiduciary responsibility?
An obligation for a party to act in the best interest of another party. This kind of obligation usually exists when one person places special ...
- What is a finder's fee?
A fee for finding someone to buy, sell, or rent real estate. It is illegal in most states unless the the finder is a licensed ...
- What is a general contractor?
A person who constructs a building, improvement, etc. for a property’s owner or developer. ...
- What is a general lien?
A lien that encompasses every property owned by the debtor instead of a single specific property. ...
- What is a good faith estimate?
An initial estimate of expected closing costs and loan expenses. ...
- What is a gross rent multiplier?
Sales price of a property divided by the gross annual rental rate. ...
- What is a hard money loan?
A loan underwritten with the value and condition of the property as the most important criteria for approval. Other issues may include the borrower’s credit, ...
- What is a Home Equity Line of Credit (HELOC)?
A revolving line of credit secured by a mortgage on the borrower's property. ...
- What is a Home Equity Loan (HEL)?
A loan placed on an owner-occupied property when the loan-to-value after the Home Equity Loan closes is no higher than 100%. That is, it is ...
- What is a homeowners association (HOA)?
An HOA is an organization consisting of the homeowners in a planned unit development, a subdivision, or condominium. The organization enforces deed restrictions and manages ...
- What is a homestead exemption?
A reduction in some jurisdictions in the assessed value that is allowed for a homeowner’s personal residence. ...
- What is a joint venture?
An agreement between two persons or more who are investing in a single property or business. ...
- What is a kickback?
An illegal fee or rebate paid to someone in order to gain that person's decision or recommendation for the award of business. ...
- What is a land trust?
A revocable living trust that is generally used to hold title to real estate for the purposes of privacy and anonymity. Also known as an ...
- What is a lease purchase?
A lease combined with a purchase agreement. Under this agreement, the lessee is obligated to purchase the leased property under certain conditions. Also known as ...
- What is a lease-option?
When a renter signs a lease with an option to purchase a property for a specific price within a certain time frame, that is called ...
- What is a lien?
A claim on another person’s property as security for money owed. Types of liens include judgments, mortgages, mechanic's liens, and unpaid taxes. ...
- What is a lifetime cap?
The highest amount that an adjustable mortgage can be raised over the initial interest rate. These caps usually fall within the range of 5.0% - ...
- What is a Limited Liability Company (LLC)?
A cross between a corporation and a partnership, the LLC must be created by documents filed in the same place as corporations. This entity enjoys ...
- What is a loan origination fee?
In most cases, a lender will charge a borrower an origination fee, or "points," to process a loan. A point is equal to one percent ...
- What is a Loan to Value ratio(LTV)?
The ratio of a loan’s amount to the value of the property. If the loan is $80,000 and the value of the property is $100,000, ...
- What is a lockbox?
A special temporary box attached to the door of a property with a key inside that requires a combination or code to open. It is ...
- What is a marketable title?
A title that is free from any defects. ...
- What is a mechanic's lien?
A lien placed upon a building or other improvement that functions as security for the payment of labor and materials furnished for improvement. ...
- What is a mortgage?
A lien against real property received by a lender from the borrower that functions as security for money borrowed. ...
- What is a non-assumption clause?
A provision in a loan prohibiting a mortgage’s transfer to another borrower without lender approval. ...
- What is a note?
A written promise by a borrower to repay a specified amount of money on certain terms. ...
- What is a notice of default?
The initial action that a lender takes when a mortgage payment is late and any attempts to reconcile the issue out of court have not ...
- What is a parcel?
A piece of real property with its own distinct legal description. ...
- What is a plat?
A plan or survey map of a parcel of land. ...
- What is a portfolio loan?
A non-conforming loan that must be held by the original because it cannot be sold on the secondary market. ...
- What is a Power of Attorney (POA)?
A document executed by one person(the principal) authorizing another person to act on their behalf for any legal purposes or for specifically defined tasks. ...
- What is a pre-payment penalty?
The fee charged for paying off a loan early within a specified period of time after the loan has closed ...
- What is a pro forma?
The presentation of data, such as a balance of income statement, where the amounts are real or hypothetical. For example, a pro forma of a ...
- What is a quiet title action?
The suit in court to remove a cloud or defect on a title and establish full legal ownership. ...
- What is a quitclaim deed?
A deed that fully transfers without warranty whatever interest or title the grantor may have for the property at the time that the conveyance is ...
- What is a real estate investment trust(REIT)?
A group of investors that pooled their money together to form a special corporation to purchase real estate. ...
- What is a recession period?
The federally mandated period of three business days (that begins the day after the loan closes) during which the borrower may cancel the new loan, ...
- What is a redemption period?
The period during which the previous owner can reclaim a foreclosed property. ...
- What is a reverse mortgage?
A type of mortgage originally designed for elderly homeowners with substantial equity to generate monthly cashflow from their property by which a lender pays a ...
- What is a reverse mortgage?
A type of mortgage originally designed for elderly homeowners with substantial equity to generate monthly cashflow from their property by which a lender pays a ...
- What is a right of first refusal?
The beneficial opportunity of one party to match the terms of a proposed contract and receive the benefits of it before the contract is executed ...
- What is a sandwich lease?
The combination of a lease held by a lessee (tenant) who becomes a lessor (landlord) by subletting to another lessee (subtenant), in which the sandwich ...
- What is a short sale?
The sale of a property in which the proceeds of the sale fall short of what the owner still owes on the mortgage. Many lenders ...
- What is a survey?
The process that measures a parcel of land and determines its area exactly. ...
- What is a tax lien?
A lien against a property for failure to pay the taxes. ...
- What is a title defect?
An unresolved claim against the ownership of a property that prevents the seller from providing the buyer a clear title to the property. ...
- What is a title search?
The examination of public records to find out the ownership and encumbrances that affect a real property. ...
- What is a triple net lease?
A lease that the tenant pays all operating expenses for the property so that the landlord receives net rent with tenant paying; taxes, insurance, and ...
- What is a trust deed?
The conveyance of real estate to a third party to be held for the benefit of another. It is commonly used in some states instead ...
- What is a utility easement?
Using another's property to lay water, gas, sewer and/or electric lines. ...
- What is a V.A. loan?
A home loan that is guaranteed by the U.S. Veterans Administration under the Servicemen's Readjustment Act of 1944. It was later expanded to compensate the ...
- What is a variance?
Permission to use a property in a manner that does not meet current zoning requirements. ...
- What is a veneer?
A thin layer of wood or brick exterior that covers a less attractive and/or less expensive surface. ...
- What is a venture capitalist(VC)?
A common name for an investor who puts up money for a high risk investment. ...
- What is a warranty deed?
A deed that has a covenant that; the grantor will protect the grantee against any and all claims. It usually contains covenants ensuring good title, ...
- What is a work-out?
The process of working with a lender to explore alternatives to foreclosure or bankruptcy after a default. ...
- What is a wraparound mortgage?
A loan arrangement where an existing loan is maintained and an additional loan is created that is equal to or greater than the existing loan. ...
- What is a writ of execution?
A court order that authorizes and directs an officer of the court (usually a sheriff) to carry out the judgment or decree of the court. ...
- What is accumulated depreciation?
In accounting, the amount of depreciation expense that has accumulated to date. ...
- What is adverse possession?
A method of acquiring a property when an occupant has been in legal occupancy of the property for a set period of time (varies by ...
- What is an AAA tenant?
An AAA tenant is a commercial tenant with the highest credit rating and lowest possibility of default. Owners can secure better financing terms and selling ...
- What is an abatement?
An abatement is a reduction. Usually in reference to taxes. ...
- What is an absolute auction?
An auction in which the sale will be to the highest bidder no matter how low the highest amount bid. ...
- What is an Abstract of Judgement?
An Abstract of Judgement is a summary of a court judgement filed with the County Recorder. ...
- What is an Acceleration Clause?
An Acceleration Clause is a loan provision which allows the lender to declare the loan due immediately in full and payable if another specific loan ...
- What is an acre of land?
An acre is a two-dimensional measure of land that is equal to 43,560 square feet or 4,840 square yards. ...
- What is an addendum?
An additional article or provision which has been attached to an existing contract. ...
- What is an adjustable rate mortgage(ARM)?
A mortgage loan whose rate may be changed at specific intervals over the life of the loan. Usually ARM's "reset" every 3 or 5 years, ...
- What is an adjusted cost basis?
The cost of any improvements the seller makes to the property. This cost is deducted from the original sales price to find a home’s net ...
- What is an all inclusive trust deed?
An all inclusive trust deed is identical to a wraparound mortgage. It is used in states that use trust deeds instead of mortgages. ...
- What is an amortized loan?
An amortized loan is a loan that is repaid in several installments, each containing a portion used to reduce the principal amount of the loan ...
- What is an assumable mortgage?
An existing mortgage in which the new purchaser of a property is made liable for the payments and any other obligations of the note and ...
- What is an easement?
One party’s privilege, right, or interest in the land of another party. ...
- What is an encroachment?
A building or any part of a building that physically overlaps, intrudes upon, or trespasses upon the property of another. This also may include other ...
- What is an encumbrance?
Any right to or interest in land that may affect its value in a transaction. This may include unpaid taxes, mortgage loans, junior liens, easements, ...
- What is an equitable conversion?
A legal doctrine effective in certain states. Equitable conversion laws state that under a contract of sale, buyers and sellers are treated as if a ...
- What is an equitable title?
The interest held by a party who has agreed to purchase a property, but has not yet actually closed the transaction. Equitable title is often ...
- What is an escrow account?
An account from which funds can be withdrawn only for specific reasons stated in a contract. In lending, these accounts are usually used to hold ...
- What is an eviction?
A legal proceeding that a lessor (landlord) must carry out in order to recover a property from a tenant occupying it. ...
- What is an implied warranty of habitability?
A legal doctrine that states that landlords must offer and maintain livable premises for their tenants. If a landlord does not provide habitable housing, tenants ...
- What is an installment sale?
The act of paying tax on the gain as the mortgage principal is collected. This occurs when a seller accepts a mortgage for part or ...
- What is an obligor?
The person who binds themselves to another. ...
- What is an option?
The right, but not obligation, to purchase or lease a property upon specific terms within a specific time period. ...
- What is an originator?
An individual that works with a borrower to start a loan. Typically the employee of a financial institution, the employee of a broker or an ...
- What is an unrecorded deed?
An instrument that transfers title from one party (grantor) to another party (grantee) without having been recorded, and no public notice of the change in ...
- What is breach of contract?
A violation of a legal agreement or contract. Also, a default on a loan or other payment. ...
- What is cash flow?
The total of all debt service payments subtracted from the net operating income will yield the cash flow. ...
- What is commercial property?
Property designed for use as offices, retail space, hospitality, large milti-family(more than 4 units), industrial space, parking lots, or similar uses. ...
- What do I do if my job says it's a conflict of interest to invest in real estate?
If your job has a non-compete clause, or is finance related and doesn't allow investment in real estate, you will likely need to utilize an ...
- What do I do if I'm a Realtor and my broker told me I can't use the websites?
The wesbites can be customized with the disclosures needed to remain in compliance with everything your Broker requires. Just have them produce a list of ...
- What do I do if the Realtor won't let me make the changes I need to the contract?
You may need to walk away from the deal for the time being. I would personally reach out to the seller directly so they know ...
- What do I do if I need someone to call me right now or I might lose a deal?
Call the VIP Concierge and your Mentoring Adviser, and send an email to both your Mentor and your Mentoring Adviser asap. 99% of the time, ...
- What should I do if my partner quits?
Sometimes partnerships aren't the right fit for whatever reason. It's better to found that out now then before it cost you a lot of money ...
- What do I do if my partner stole my money?
Consult an attorney to see what you can do about getting your money back asap. Hopefully you'll be able to recoup at least some of ...
- What do I do if I don't have money for an LLC?
We always recommend having proper asset protection measures in place such as an LLC to limit your liability should something go wrong. That being said, ...
- What if I can't or shouldn't use an LLC in my area?
For some people in some areas an S-Corp makes more sense. If that's what the attorney and/or CPA recommended for you, that is the best ...
- What do I do if the attorney told me I need a different entity than what I have set up?
I would listen to the attorney and follow their recommendation for your entity setup. They should explain to you the reason why a different entity ...
- What do I do if the attorney didn't set my entity up correctly?
Contact the attorney asap to get any errors corrected. It usually isn't the fault of the attorney, but the state agency that regulates the entities. ...
- What should I do if I'm being sued?
Consult an attorney asap. Let us know what the situation is fully, and we will help you to gather as much supporting info as possible ...
- What should I do if I need to sue someone?
Consult an attorney asap. Let us know what the situation is fully, and we will help you gather as much supporting info as possible to ...
- What do I do if my spouse wants me to quit?
Remember why YOU decided to join in the first place. While lack of support from a loved one can hurt, not achieving your potential and ...
- What should I do if I'm about to go to jail?
Call your attorney, your VIP Concierge, your Mentoring Adviser, and send an email to both your Mentor and your Mentoring Adviser asap. Anything we can ...
- What if there is a cloud on the title?
You typically need to clear it up before closing. It depends on what type of cloud, and what legal action needs to be taken to ...
- What do I do if the CPA said I needed a different entity?
I would listen to the CPA and follow their recommendation for your entity setup unless it conflicts with the attorney's recommendation. If there is a ...
- What do I do if the owner died and I can't find the heirs?
Run a skip trace to find all known contacts of the owner. We typically use Intelius or TLO. ...
- Where do I find the contracts?
The contracts are in the Coaches Console in the documents section as well as in the CustomerHub. ...
- Who pays closing costs?
Whoever it says pays it in the contract. Everything is negotiable. ...
- What business expenses are tax deductible?
We recommend consulting with your local tax professional to determine what items are tax deductible in your business. ...
- What do I do if I can't post bandit signs in my area?
Clever Investor does not condone breaking the law ever. If posting them may not be legal in your area, you can still probably get away ...
- What do I do if Realtors won't help pull a cash closed list for me?
If you approach a Realtor the correct way, they will pull a cash closed list for you. Start by telling the Realtor what you can ...
- What do I do if my Realtor told me wholesaling is illegal?
The "average" Realtor doesn't know as much about investing as someone who has simply watched the videos in the Fast Track even once. Wholesaling is ...
- What do I do if I can't find a title company to do double closes?
You will likely be able to find a title company willing to do double closes by attending your local REIA meeting. Make sure you attend ...
- What do I do if I can't assign the Realtor contract?
If you can't assign the Realtor contract, you will usually need to do a double closing. Just make sure there is enough margin in the ...
- What do I do if I don't know how to virtually wholesale?
Virtual wholesaling is the same as wholesaling locally with the one exception being you're not there in person to see the property and build rapport. ...
- What do I do if I want to invest in Canada?
Canada has slightly different laws than the US, but picking up rentals and rehabs is virtually the exact same as in the US. Wholesaling is ...
- Who pays for the home inspection?
The buyer. This doesnt mean you as a "buyer" on the A-B part of a wholesale deal, but your end buyer. ...
- When can I call for help on a deal?
For Mentoring students, once you have talked to the seller and gotten the property info, we can help you run the numbers and evaulate its ...
- What do I do if the HOA doesn't allow rentals?
If you are wholesaling a house in an HOA that requires properties to be owner occupied, landlords won't be your target buyer. You will want ...
- What is a good deal?
Any property that can be put under contract at a discount or with good terms plus gives a reasonable amount of time to try to ...
- What do I do if I can’t find a buyer for a wholesale deal?
If you can't find a buyer during the inspection period, let the seller know that the deal doesn't quite work at the negotiated price. Use ...
- What “paid” comping service should I use?
Realty trac or realquest work with varying degrees of accuracy in different markets. Check what local REIA club players are using. Get access to the ...
- What do I do if Realtors won't pull comps for me?
Start by telling the Realtor what you can do for them, and then tell them you only need them to pull comps once or twice ...
- Where are fixer-uppers found?
You can find distressed properties or fixer-uppers in most communities, even wealthier neighborhoods. A distressed property is one that has been poorly maintained and has ...
- What do I do if a tenant trashed one of my properties?
Consult an attorney asap. Make sure you take pictures and video before you begin the cleanup to document the full extent of the damage. ...
- What do I do if one of my rental properties burned down?
Consult your insurance agent. Be prepared to consult wih your attorney as well if the claim is denied. ...
- What types of investment property are best?
The two factors that make investment property valuable are:
1. The cash flow they produce and
2. The appreciation they produce
There is often a balance reached between ...
- What do I do if Realtors want a POF letter from me when submitting an offer?
There are many sources for a POF letter such as transactional lenders. Cody's funding partner will provide you with one. Review the Clever Funding List ...
- What do I do if the seller wants a POF letter?
There are many sources for a POF letter such as transactional lenders. Cody's funding partner will provide you with one. Review the Clever Funding List ...
- What properties qualify for conventional fannie/freddie financing?
Virtually all 1-4 family properties that fall below the maximum price threshold. ...
- When would I use a land trust?
There are multiple uses for a land trust. The most common are when selling via a lease-option isn't beneficial, or to do a subject-to deal. ...
- What should my elevator pitch be?
Your elevator pitch should clearly and concisely explain who you are and what you do in 30 seconds or less. ...
- What company should I use for my self directed IRA custodian?
We do not currently have a recommended partner for self-directed IRAs. We recommend attending your local REIA meeting to see who other investors use in ...
- What are my options when final loan documents are different from my commitment letter?
Your options are: (1) Sign the loan documents as they currently exist. (2) Sign the loan documents as they currently exist under protest. (3) Don’t ...
- What are the benefits of seller financing?
Seller financing offers tax breaks for sellers and alternative financing for buyers who can't qualify for conventional loans.
If you are a seller, the risks you ...
- What is a conforming loan?
A loan which meets the strict underwriting criteria and guideless of Fannie Mae, Freddie Mac, FHA or VA loans. These are typically low-interest rate loans ...
- What is a Debt Ratio?
Also known as debt to income. The ratio of the total of minimum monthly debt payments to gross monthly income. If a person’s minimum monthly ...
- What is a hard money loan?
A loan underwritten with the value and condition of the property as the most important criteria for approval. Other issues may include the borrower’s credit, ...
- What is a lifetime cap?
The highest amount that an adjustable mortgage can be raised over the initial interest rate. These caps usually fall within the range of 5.0% - ...
- What is an adjustable rate mortgage(ARM)?
A mortgage loan whose rate may be changed at specific intervals over the life of the loan. Usually ARM's "reset" every 3 or 5 years, ...
- What is an amortized loan?
An amortized loan is a loan that is repaid in several installments, each containing a portion used to reduce the principal amount of the loan ...
- What is an assumable mortgage?
An existing mortgage in which the new purchaser of a property is made liable for the payments and any other obligations of the note and ...
- What is owner/seller financing?
Seller financing is when a seller helps to finance a real estate transaction by taking back a second note or even financing the entire purchase ...
- What is seasoning?
A period of time in which a loan has been in force for, thus establishing the borrower's payment history. Loans are usually considered to be ...
- What is the Equal Credit Opportunity Act (ECOA)?
A federal law that states that lenders and other creditors must make credit equally available, with no discrimination based on race, color, national origin, religion, ...
- What type of mortgage is best to get on investment property?
There are many differing opinions on the ideal length of a mortgage. Current wisdom is to stretch it out as long as possible, provided that ...
- When buying investment property with conventional financing, how much money will I typically need to get started?
Typically there is a no risk, refundable deposit to hold your investment. The rescission period will determine exactly how long that period is. Then the ...
- Where can I find private money the easiest?
The best place to find private money is from your network. The people you already know are more likely to trust you than a complete ...
- Who can make the down payment on FHA loans?
There are several sources from which the down payment for an FHA (Federal Housing Administration) loan can be obtained. A few sources include: applicant's savings ...
- What is a qualified intermediary?
A qualified intermediary in regards to a 1031 exchange is a 3rd party person who is qualified ot assist with the 1031 exchange and hold ...
- What is a terms deal?
A terms deal is a agreement to purchase a property where you're not paying all cash for it, and the seller is taking back a ...
- Where can I get basic information about lease-options?
Aside from the resources available here at CleverInvestor, you can also contact a real estate agent (some even specialize in such transactions) or read up ...
- Where do I get information on REITS?
Ask for information on real estate investment trusts, or REITs, from the National Association of Real Estate Investment Trusts, 1875 Eye St, N.W., Washington, DC ...
- What is a cash-out refinance?
A transaction in which the new loan amount exceeds the total of the principal balance of the first mortgage and any secondary mortgages or liens, ...
- What should I do if I can't find real sellers on Craigslist, just wholesalers and Realtors?
There are some real sellers on Craigslist in the FSBO section, however there are quite a few wholesalers and Realtors who list properties for sale. ...
- What do I do if Realtors won't call me back?
Start by telling the Realtor what you can do for them, and then ask them to pull a cash closed list to confirm they have ...
- What do I do if I don't know what domains to get?
Review the Launchpad Guide for tips on picking the best domain names. If you're trying to decide between a few different names, send an email ...
- What should I do if I'm going to be moving to a new area?
If you're going to be moving to a new market either during or shortly after your mentoring, the best course of action will typically be ...
- What do I do if I'm going to be deployed overseas and/or out of the country soon?
First; thank you for serving our country! Second; we can help you set up your business to be a successful investor virtually. No matter where ...
- Who is the best skip trace service?
We typically use intelius or TLO. ...
- Where should I target my marketing?
Typically the best area in general is between 70-150% of the median home price in your market. Those will be the neighborhoods that are easiest ...
- Who should I call on craigslist?
FSBO (for sale by owner) and/or FRBO (for rent by owner) ads. ...
- Where do I find my local REIA?
Do a google search for your city name and the word REIA. ...
- Where should I print my business cards?
www.gobigprinting.com/cleverinvestor ...
- Why won't the seller call me back?
There could be any number of reasons. The best thing is to continue to contact them once per day until you succeed at getting in ...
- Where can I order postcards from?
www.gobigprinting.com/cleverinvestor ...
- Where do I order bandit signs from?
We typically use banditsigns.com, but you can pick them up from a local store cheaper since shipping and handling can be fairly expensive. ...
- What areas should I put up bandit signs?
Anywhere that it is legal, that is a residential area, or high traffic area where a driver will be able to clearly read the sign ...
- When should i put up bandit signs?
Typically Friday evenings work best so that you get exposure all weekend if you are going to take them down on Sunday evenings. If you ...
- What color bandit signs work best?
Yellow signs get more attention, but get taken down faster. White signs tend to stay up longer. Just make sure the text is dark on ...
- What price range should I target for motivated seller marketing?
70%-150% of the median home price in your target market. ...
- What price range should I target for motivated seller marketing?
70%-150% of the median home price in your target market. ...
- Which postcard should I use first for motivated seller mailings?
We usually use the Magic Bullet #1. ...
- Which postcard should I use 2nd for motivated seller mailings?
We usually use the Magic Bullet #2. ...
- When should I use yellow letters?
We typically use yellow letters for our 3rd or 4th absentee mailing, and on every probate mailing. ...
- What are leave behinds?
Leave behinds can be a flyer, door hanger, post-it note, or actual letter that you leave on the front door of the property. ...
- Where can I order pre-printed post-it notes?
Vistaprint offers custom printed post-it notes. ...
- Why should I get a UPS box instead of PO box?
A UPS box allows you to have a street address with a suite number, and appears much more professional since most people will assume it's ...
- Why shouldn't I use my home address?
For safety and securty reasons we highly recommend against it. You never know who you are mailing postcards to, and how offended someone might get ...
- What do I do if my direct mail response rate is bad?
Doing direct mail to a list you purchased is just one of the methods to get your phone to ring with motivated seller calls. Direct ...
- What do I do if I live in a non disclosure state and Zillow type sites won’t work to do desk top analysis?
In Texas there is a slight work around to get in ballpark using Zillow, Trulia and HAR. Other states have similar ballpark capabilities by utilizing ...
- What if I have no money to do marketing?
First we need to really see if this is truly a matter of being broke, or just an excuse because you don't want to spend ...
- What do I if I don't remember or can't find my password for the sites?
Send an email to VIP@CleverInvestor.com for assistance. ...
- What is Driving For Dollars?
Driving through target neighborhoods looking for potentially motivated sellers. You will want to write down the address, and take a picture of the front of ...
- What is a Postcard Campaign?
A direct mail campaign to homeowners sending them a postcard with a call to action for them to contact you regarding selling their property. Typically ...
- What do I do if I get an “error creating Podio Lead" email?
Send an email to m5podio@cleverinvestor.com and ask that question. If your acct is not properly set up, they can make the changes to it. ...
- Where are all the key words that I can use as a real estate investor for SEO?
Google search for “real estate Investor Key words” and there are website resources that come up. You can also copy the key words for your ...
- What do I do if I am getting calls but the sellers are not very motivated?
If a seller states in a message left, or in conversation that a) the reason they are selling or B) a deadline they have to ...
- Would it be better if I use a postcard that not as sugary sweet as the magic bullet #1 postcard because I would rather get less calls and more motivation?
Yes, we can test this. How many calls are you getting? How many are leaving messages? Have you been calling back the hang ups? The ...
- What info should I put on a bandit sign?
Keep it simple: If you are buying houses, "I Buy Houses" and your phone number, "We Buy Houses CASH" and your website, "We Buy Houses ...
- What information is a bird-dog responsible for retrieving to a wholesaler?
It depends on the wholesaler. There is no real definite responsibility. One bird dog may be totally thorough and give a 10 page report, and ...
- Where can you find foreclosures?
In most states, a foreclosure notice must be published in the legal notices section of a local newspaper where the property is located or in ...
