35 Real Estate Facts That Will Blow Your Freaking Mind
If you're looking for some crazy real estate trivia, you've come to the right place. In this blog post, I'm going to share a GIANT COLLECTION of real estate facts I compiled this past year for a few various guest articles I wrote for Inman and The Lighter Side of Real Estate. These interesting tidbits were a lot of fun to put together, and they
Actived: 3 days ago
24 Career Paths in the Real Estate Industry REtipster.com
(6 days ago) Commercial agents typically earn more than residential agents, ranging between $75,000 – $200,000 or higher, with an average of around $153,000. Required Experience or Credentials: Commercial real estate agents must similarly take a state course and pass the licensing exam, then take a position with a licensed broker.
101 Things Everyone Needs To Know About Real Estate …
(5 days ago) Realtors typically aren’t very knowledgeable of the speed and tactics used to acquire great properties for investors. Having your real estate license is an incredibly valuable asset, in my opinion. – Andrew Fortune. 25. Treat your real estate just as an actual business. This means creating a plan of action, implementing those actions and
What is a Real Estate Dealer
(7 days ago) A real estate dealer is one who buys and sells real estate “in the ordinary course of their trade or business .”. The most common example of a real estate dealer is someone who specializes in fix-and-flips. However, wholesalers and developers are also typically classified as real estate dealers. REtipster does not provide tax, investment
What Is a Real Estate Lender
(7 days ago) A real estate lender is an individual or institution that finances a real estate transaction, usually by issuing a loan to a buyer. Most lenders who face consumers are part of the primary mortgage market. The secondary mortgage market is where primary lenders discharge and sell their loans to investors to recoup the money they lent out to
What is a Real Estate Broker
(7 days ago) A real estate broker is a real estate professional who has acquired a broker license. In most states, one must hold an active real estate license for two years and attain further education in order to acquire their broker's license.
Schedule of Real Estate Owned (SREO)
(3 days ago) A Schedule of Real Estate Owned (SREO) is a document that lists all the properties an investor currently owns in part or in full, along with the corresponding debt associated with each property. Also known as an REO Schedule, the document forms part of the financial paperwork that lenders require from investors who are applying for a loan.
Where to Find Free Real Estate Images (Without Leaving …
(Just Now) 4. Google Image Search. Google has an awesome tool that allows users to search specifically for images. It’s an incredibly convenient way to find pictures of a property’s surrounding area, but you don't want to just take the first picture you find and use it in your listing.
18 Land Terminology Every Real Estate Investor Should Know
(6 days ago) Similar to a plot, a “patch” is often used in reference to a small area of land used to grow a specific type of plant or crop. Some common examples would be a “ cabbage patch” or a “ briar patch.”. 7. Parcel. A parcel is a piece or unit of land that was created as …
What Is a Daisy Chain in Real Estate
(Just Now) A real estate daisy chain occurs when a wholesaler signs a purchase agreement with a property seller and then assigns the contract to another wholesaler, who then does the same to another, and so on. All of these parties will tack on an additional assignment fee over the seller’s original asking price, so if the property is sold, the wholesalers in the daisy chain will keep their share …
What does "Acquisition" mean in real estate
(Just Now) Some real estate investors may hire a transaction coordinator to oversee the closing process where others may have it fall under the responsibility of the acquisitions manager or department. All in all, acquisitions is the effort, action and process to buy property and build inventory for real estate investment purposes.
Everything Real Estate Investors Need to Know About Gap Funding
(4 days ago) Table of Contents. Gap funding for real estate investors closes the “gap” left between what a hard money lender covers and what your investing project costs. A typical hard money loan only covers 70% to 80% of the purchase price of a property. That leaves you to come up with the other 20% to 30% as a down payment, plus closing costs.
What is an Assignment in Real Estate
(9 days ago) In real estate terms, an assignment of contract is a way to profit from a real estate transaction without ever becoming the owner of the property. The assignment method is a standard tool in a real estate wholesaler’s kit and lowers the barrier to entry for a real estate investor because it does not require the wholesaler to use much (or any
What Is a “Perc Test” (And How Much Does It Really Matter)
(2 days ago) A perc test is conducted by drilling or digging a hole in the ground, pouring water into the hole, and then observing the rate at which the water is absorbed into the soil. In most cases, properties can easily pass a perc test when the soil has higher concentrations of sand (because sand tends to absorb water at a much faster rate than clay or
What Is a Metropolitan Statistical Area (MSA)
(2 days ago) Real estate investors also use MSA data to decide where to purchase real estate by comparing different geographical areas. For example, investors can reference OMB data to identify housing trends and population movements. This process gives them an idea of where the housing market is growing, affording them an investment window to take
What Is an Arm's Length Transaction
(2 days ago) An arm's length transaction in real estate is when a deal is made between two parties, each acting independently with their best interests in mind. There is no pre-existing relationship between the buyer or seller to skew the sale price from the property’s fair market value. REtipster does not provide tax, investment, or financial advice.
A Map of Every Non-Disclosure State in the U.S. REtipster
(8 days ago) Real estate investors who work in non-disclosure states face a bigger set of challenges in determining property values and offer prices, because of the barriers to finding recent sales comps. This doesn’t mean, however, that comparable data is completely unavailable or that an investor should not do business in a non-disclosure state.
What Is a Multiple Listing Service (MLS)
(2 days ago) MLS databases help real estate agents and brokers connect buyers and sellers interested in buying and selling real estate. However, an MLS is a private database that can only be accessed by licensed real estate professionals who are active members of the NAR.. The concept of an MLS is not new—real estate professionals have been joining forces since the 1900s to …
What Is a Legal Description
(6 days ago) Real estate investors need to pay attention to the legal description of the property they intend to purchase. They can find it in the deed of the property. While they can also find it in tax records, these may have shortened or inaccurate descriptions compared to a deed. In particular, an investor should verify if the property is correctly