Total Real Estate Research and Marketing

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Videos • Links to Useful Websites • How To / Reference Guide

Videos

Video Resources to assist YOU with locating potential killer real estate deals! Dean and some of his most successful students will share with YOU some of their best strategies, tips and techniques they have used in finding deals!

Video # 1 - Dean describes how to find Motivated Sellers!

Video # 2 - Dean describes how to score with REOs! - (Bank Owned Properties)

Video # 3 - Greg Murphy describes how he finds Motivated Sellers

Video # 4 - Carol Stinson described how she finds deals

Video # 5 - Carol Stinson described how she finds deals through Craigslist

Video # 6 - How Carol Stinson Mines Gold through Expired MLS listings!!

Video # 7 - Dean Graziosi Explains the What and How of Probate Profits!

Links to Useful Websites

Website Links of Resources to assist YOU with locating potential killer real estate deals! Click on any of the categories below to go right to your area of interest!

Categories: Auctions • Government Sponsored Enterprises • Bank and Mortgage Companies REO sites • Public Data • REO Resources • Resources for finding Banks in your area • Realtors/MLS • For Sale By Owners (FSBOs) • Social Networks

Auctions

Government Sponsored Enterprises

Bank and Mortgage Companies REO sites

Public Data

REO Resourcess

Resources for finding Banks in your area

Realtors/MLS

For Sale By Owners (FSBOs)

Social Networks

How To / Reference Guide

How to/Reference Guide Resources to assist YOU with locating your killer real estate deals! Click on any of the categories below to go right to your area of interest!

Categories:
How To • Glossary • Real Estate Acronyms

Navigating Around the Web

As you navigate around the web be sure to make note of some of the favorite website you visit. You can create the link as a favorite and also keep a list of your favorite sites by category. This list could be kept in a spreadsheet like excel to stay organized and easily add new sites or categories.

As you visit these websites you may want to sign-up for free news letters or information. For example, the deangraziosi.com website has a wealth of free benefits from monthly newsletters to conference calls for real estate investors.

On other websites such as real estate auctions websites you can be notified of auctions coming to your area of interest. Most websites may call these notifications as "auto-alerts." Websites that offer these features can save you a great deal of time and effort as you are navigating your way of finding that next real estate deal. Be sure to take advantage of these free types of services because the deals will be coming right to your door just a simple click in your on-box.

How to Make the Deals Come to YOU! - Marketing Yourself

I once heard the expression that "marketing is everything and everything is marketing." This is so true when it comes to marketing and getting the word out about what you want and what you do! There are a variety of ways you can do this from passing out your business cards to postings flyers in local businesses to posting bandit signs in your local area (always remember to check to ensure local ordinances allow for bandit signs in your area) You can run very cost effective ads in small local newspapers like the Thrifty Nickel or Penny Saver or even post FREE ads on classified websites such as Craigslist (www.craigslist.org). Some ambitious real estate investors almost take it a step farther and post magnets on their vehicle so as they drive around town or shop at the local Wal-Mart people can see, read and respond to their marketing.

How to Make the Deals Come to YOU! - Establishing Contacts

It is important to establish contacts in a variety of ways. You can meet and establish contacts with realtors. Realtors can provide you with an abundance of information on the local real estate market. These realtors can provide reports that summarize current and past properties. Most realtors can even set you up in their MLS system to receive auto-emails on properties that meet you criteria. Therefore, make sure you network and become active with local realtors. Something as simple as an email every other week can allow you to stay in contact with a valuable resource. To find a local realtor in your state or find current listing visit realtor.com (www.realtor.com/)

How to Make the Deals Come to YOU! - Social Networking

Networking is a key to the success of any business. With real estate investing there are various ways of networking including joining local real estate investment clubs or groups to joining virtual on-line communities. The more that you can network yourself the higher the probability for success you will experience. As found in the website links section, the website reiclubdirectory.com (www.reiclubdirectory.com) has a listing of real estate investing clubs by state. This is a tremendous way to meet like minded investors in your same local area. On a much larger scale with the deangraziosi.com website you can be part of an on-line community with investors all over the country and even in some cases the world! Other social Networking websites such as Facebook (www.facebook.com), Linkedin (www.linkedin.com) or Twitter (www.twitter.com) can also give you a social identity in the virtual world as a real estate investor. The more people that you meet that now you are in real estate can be a direct pipeline of information and deals for your in-box. So be sure to connect with family, friends and co-workers. You never know where a future connection may lead. Like any good neighbor of any community you have to be involved to be part of the community. Therefore if you join local real estate clubs, make sure you find the time to attend the meetings and network. If you are part of virtual networks on-line, find the time to continually build and expand your profile, visit your sites and participate in discussions and topics and visit other member´s pages to create and expand your social network. The more involved you are the more benefits that may be derived over time.

Definitions of key terms and acronyms
As with any business or industry it is extremely important to understand the terminology of that industry and real estate is no different. As you learn and expand your real estate knowledge you will become more familiar with various real estate terms or acronyms. For your reference we have compiled a variety of frequently used terms and acronyms.

Real Estate Term Glossary

Addendum-An attachment to a real estate contract signed by both parties that covers additional items and agreements not addressed in the original agreement.

Adjustable-rate mortgage (ARM)-A loan with an interest rate that is subject to changes (adjustments) during the term of the loan and based on terms established at the time the loan is made.

Amortization-A reduction of debt on an installment basis over a fixed period of time.

Appraisal-An estimate of the current fair market value of real property.

Appreciation-The increase in value of an asset over time.

Asset-Any possession of value.

Assign or assignment-To legally transfer one´s rights in a lease or mortgage to another party.

Assumable loan or mortgage-A mortgage that allows a new buyer to take over payments with the same terms given to the original buyer.

Assumption-Taking over responsibility for payments on a loan.

Balance sheet-A financial statement listing assets, liabilities, and net worth and is often provided to a banker or a mortgage broker when applying for a loan.

Broker-A state licensed agent who, for a fee, acts for property owners in real estate transactions in accordance with state laws and is also capable of managing other real estate agents.

Buyer´s broker-A broker or agent who represents the buyer in a real estate transaction.

Buyer´s (down) market-A real estate cycle where there are more sellers of properties than there are buyers. This situation can occasionally give buyers more opportunities to buy choice properties at lower prices.

Cash flow-Gross income minus operating expenses (for example, taxes, insurance, and maintenance) and debt service.

Closing costs-Expenses paid to complete a real estate transaction, such as title insurance, closing agent´s fees, prorated property taxes, and commissions.

Collateral-The real or personal property pledged to secure a debt.

Commission-A percentage of the sales price paid to the real estate broker upon selling the property, oftentimes split between the buyer´s broker and the seller´s broker.

Contract-A legal agreement entered into by two or more parties.

Counter offer-A response to an offer that effectively rejects the original offer and introduces a new offer with different terms and conditions.

Deed-A legal instrument that transfers or conveys the property title from the seller to the buyer.

Deed of trust-An instrument by which a borrower transfers title to a third party (trustee) as security for a debt. The beneficiary of the trust is the lender.

Distressed property-Property in poor physical condition that is often priced substantially less than its present value or its future value when renovated.

Dual agent-An agent who represents both the buyer and the seller.

Earnest money-A deposit of money given by the buyer to bind the contract with an offer to purchase real property, usually credited toward the sale price.

Equity-The fair market value of a property less all debts associated with that property (such as any mortgages, loans, or liens secured by that property).

Fair market value-Estimated price in a sale that a property will bring from a willing buyer and willing seller.

Fannie Mae (FNMA)-Nickname for the Federal National Mortgage Association, whose primary function is to buy and sell FHA and VA mortgages in the secondary mortgage market.

Federal Housing Administration (FHA)-An agency of the federal government that insures private first mortgage loans for the financing of new and existing homes and home repairs.

Financing-The use of another party´s funding (such as a loan from a financial institution) to purchase property.

Fix and flip-A money-making strategy in which you buy a house, fix it up, and then sell it a short time later for a profit.

Fixed rate-An interest rate that remains constant over the term of the loan, such as fifteen or thirty years.

Foreclosure-The process whereby property pledged as security on a note or loan is sold under court order because the borrower has defaulted on the note.

Home inspection-An examination of a home´s construction, condition, and internal systems by an inspector or contractor before purchase.

Housing and Urban Development (HUD)-A department of the federal government responsible for the implementation and administration of the U.S. Government Housing and Urban Development programs, which include FNMA and FHA.

Income property-Property that produces a regular source of rental revenue.

Inflation-An economic occurrence in which real purchasing power decreases as prices of goods and services increase.

Lease-A contractual agreement between the landlord (lessor) and the tenant (lessee) that allows the tenant the use and occupancy of the property for a specified time period.

Lease option-An agreement between two parties in which the party who owns the property sells to the second party the right to purchase the property at a future date.

Leverage-The use of other people´s money for investment.

Liability-A debt that is due and payable in the future or an obligation to pay or perform a particular duty.

Lien-A legal claim against property, which grants the holder of the lien the right to take and/or sell the property in the event of a default to satisfy the obligation of the debt.

Limited partnership-A legal organization consisting of two or more parties (a limited partner and a general partner) who own different percentages in the partnership. A limited partner contributes capital but cannot control or manage the partnership and is not liable for debts of the partnership.

Listing broker-A broker who has contracted with a seller to offer the property for sale at a specified price in exchange for a commission or some other consideration.

Loan-to-value (LTV) ratio-The ratio of a loan´s value divided by the property´s appraised value. Traditional lenders typically prefer to maintain an LTV of 80% or less for first mortgages.

Mortgage-A legal document that pledges property as security for repayment of a loan.

Mortgage broker-A company or individual who matches lenders with prospective borrowers to find the best loans for borrowers.

Mortgagee-The lender of money under the terms of a mortgage.

Mortgagor-The borrower who pledges his or her property to assure performance in repaying the loan.

Multiple Listing Service (MLS)-A regional service whereby members of the Board of Realtors display their listings, generally on a computer network.

Negative amortization-When a loan payment does not cover the entire monthly cost of borrowing, the excess is added to the principal mortgage.

Negative cash flow-When rental and other income does not cover the operating expenses and debt service of the property.

Net worth-Assets minus liabilities.

Note-The legal evidence of debt. See Promissory note.

PITI (principal, interest, taxes, and insurance)-Used when a buyer applies for a loan. The lender calculates the buyer´s PITI to determine the borrower´s actual monthly mortgage-related expenses.

Point-A percentage of the original balance of the loan that the lender charges for making the loan to the borrower. One point equals 1% of the original balance of the loan.

Positive cash flow-When rental and other income more than covers the operating expenses and debt service of the property.

Prime rate-The interest rate that banks charge their best corporate customers. Principal-The amount borrowed.

Principal amortization-The reduction of the amount of the loan through periodic installment payments.

Private mortgage insurance (PMI)-A policy insuring a lender against a default on a mortgage loan issued by anyone other than the federal government.

Promissory note-A legal document that states a fixed amount of money to borrow, the interest rate, and the length of payment allowed to repay the loan.

Property management company-A company that finds and screens tenants, pays for routine maintenance, and collects rent from tenants for a percentage of the monthly rental income.

Quitclaim deed-A deed used to transfer whatever interest in the property, if any, the grantor may have.

Real estate agent-A person licensed in a particular state associated with a real estate broker who acts on behalf of the broker and has the legal authority to assist buyers and sellers in purchasing and selling real estate.

Real estate owned (REO)-A property that a financial institution owns as a result of a foreclosure.

Real estate tax lien-A lien that is the result of a real estate tax payment default and is generally always in first position above all other liens.

Realtor-A real estate broker or agent who is a member of the National Association of Realtors as well as state and local real estate boards.

Rent-Payments made to the owner for use of that property.

Sales contract-An agreement between a buyer and seller of real property to transfer title to that property at a future date for a specific sum of money.

Seller´s market-A real estate cycle in which there are more buyers looking to purchase properties than there are sellers. In this situation, sellers can command higher prices or terms.

Tax lien-A lien imposed against real property for the nonpayment of both real estate and income taxes.

Title-A legal document showing evidence of the ownership rights and obligations of a property owner.

Title insurance-Insurance issued by a title company guaranteeing that the title is good and marketable. Title insurance policies can be issued to protect the mortgagee, the full interest of the buyer, or both.

Title insurance company-A company that performs a title search to make sure that the title of a property does not have any liens against it. The title company also insures the status of the title based on the coverage specified in the sales contract.

Title search-A review of recorded legal documents verifying the current ownership for a piece of property.

Acronym Summary List

GLOSSARY of real estate acronyms. Someone had mentioned it was hard to follow when just acronyms were used in posts. If you want to add to or have a question, leave a post and we´ll edit it in.

AFD = Agreement For Deed

AFF = Automated Foreclosure Finder

AITD = All Inclusive Trust Deed

AMR = Anticipated Market Value

APN# = Assessors Parcel Number

APR = Annual Percentage Rate

ARM = Adjustable rate mortgage

ARV = After Repair Value

ASP = Anticipated Selling Price

BARM = Be a Real Estate Millionaire (Dean´s book.)

BOM = Back On Market

BOR = Board of Realtors

BPO = Broker´s Price Opinion

CAD = County Appraisal District

Cap = Capitalization

CAP = Cap Rate (NOI / Price)

CCIM = Certified Commercial Investment Member

CCR = Conditions, Covenants, and Restrictions

CDA = Confidential Disclosure Agreement

CFD = Contract for Deed

CLTV = combined loan to value. This is if you have a 1st and 2nd or HELOC on your home, it is the combined amount owned compared to the value of your home.

CMA = Comparative Market Analysis

COCR = Cash on Cash Return

COE = Close Of Escrow

COF = Cost of Funds

COO = Certificate of Occupancy

CPI = Consumer Price Index

CRB = Certified Residential Broker

CRE = Creative Real Estate

CRS = Certified Residential Specialist

DBA = Doing Business As

DCR = Debt Coverage Ratio

DOM = Days on Market

DOS = Due On Sale Clause

DOT = Deed of Trust

DSCR = Debt Service Coverage Ratio

EM = Earnest Money

FAL = Foreclosure Alert

FCRA = Fair Credit Reporting Act

FFE = Furniture, Fixture, and Equipment

FHA = Federal Housing Administration

FHLMC = Federal Home Loan Mortgage Corporation, Freddie Mac

FMR = Fair Market Rent

FMV = Fair Market Value

FNMA = (Fannie Mae) - Federal National Mortgage Association

FRBO = For Rent by Owner

FSBO = For Sale By Owner

GMAC = General Motors Acceptance Corporation

GRM = Gross Rent Multiplier, is the price divided by the total rent. The problem with it (as opposed to the cap rate) is that it does NOT include an info on expenses

HELOC = Home Equity Line of Credit

HML = Hard money lender

HOA = Homeowners Association

HUD = Housing and Urban Development

HVAC = Heating, Ventilation and Air Conditioning

IEE = Instant Equity Exchange

IRA = Individual Retirement Account

IRC = Internal Revenue Code

IRR = Internal Rate of Return

IRS = Internal Revenue Service

L/O = Lease Option

L/P = Lease Purchase

L/S = Landlord Seller

LIBOR = London Interbank Offering Rate

LLC = Limited Liability Company

LO = Lease Option

LOA = Letter of Authorization

LOC = Line of Credit

LOI = Letter of Intent

LP = Limited Partnership

LPOA = Limited Power of Attorney

LTV = Loan-to-value ratio

MAI = Member Appraisal Institute

MAO = Maxium Allowable Offer (Typically if you can get it, it is 30% off the ARV less repairs)

MIP = Mortgage Insurance Premium

MLS = Multiple Listing Service

MUD = Municipal Utility District

NAR = National Association of Realtors

NDA = Non-disclosure Agreement
(also known as a confidentiality agreement)

NIV = No Income Verification

NMD = No money down

NNN = Triple Net Lease

NOD = Notice of Default

NOI = Net Operating Income (Total Income minus all expenses EXCEPT debt service)

NOO = Non Owner Occupied

NTS = notice of trustee sale

O/F = Owner Finance

OBO = Or best offer

OO = Owner Occupied

OPM = Other people´s money

P&S = Purchase and Sale

PITI = principal, interest, taxes, & insurance

PMI = Private mortgage insurance

POA = Power of Attorney

PR = Primary Residence

PUD = Planned Unit Development

REI = Real Estate Investing / Real Estate Investor

REIA = Real Estate Investors Association

REIT = Real Estate Investment Trust

REO = Real estate owned

ROI = Return On Investment

RTO = Rent to Own

SBA = Small Business Administration

SBC = Small Balance Commercial (under 5 million)

SEC = US Securities and Exchange Commission

SFH = Single Family House

SFR = Single-family residence

Sub2 = Buying property subject to existing financing

T/B = Tenant Buyer

TAA = Texas Apartment Association

TAR = Texas Association of Realtors

TAV = Tax Assessed Value

TIL = Truth In Lending

TREC = Texas Real Estate Commission

UBIT = Unrelated Business Income Tax

UCC = Uniform Commercial Code

VA = Department of Veterans Affairs / Veterans Administration

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