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. JUST in case anyone didn't know )
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
DIL = Deed In Lieu
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)
MFL = Maximum Foreseeable Loss
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
PFC = Prepaid Financial Charge
PITI = principal, interest, taxes, & insurance
PMI = Private mortgage insurance
PML = Private Money Lender
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
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Every time I need something on this site and I go looking for answers ... there you are and I want you to know how appreciated you are!
That means a lot...![Smiling Smiling](http://mail.deangraziosi.com/modules/smileys/packs/example/smile.png)
And thank you, too, for the support you've shown to others on the site. That's what family does, build each other up.
Love ya,
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
I am just getting started and I'm having a tough time finding information on the inter net that's free. Are there any websites that provide free public information? Every time I see a website that says there is no cost, there winds up being a catch and requiring a credit card number asking for some kind of fee..
OK. I see this abbr. in some ads. What does OBO mean. I saw it on a few different ads and am lost as to what that means.
Kingjuss,
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)
Pretty sure it's "Or Best Offer". I'll add it.
Thanks, Kingjuss
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Yeah.. it means Or Best Offer.. But I always wondered..
If someone writes 5000 OBO.. Is that OBO above or below 5000?? I guess below right??
I guess it could mean either. But they probably mean as close to their asking price as they can get, below. Hey, good way to start a bidding war, though, in a good market.
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
If someone says they will take 5000... then why would you offer MORE than 5000??
I just was wondering what it meant. Thank you for letting me know what it meant. We got one more added to the list. So it works out for everyone, one way or the other. Thanks again Rina.
Kingjuss,
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)
I'm glad I found this thread. Because there was a whole bunch of real estate terms that I just didn't get (since I'm just getting started in all), and with this I can be sure I'll understand them now. Thanks again, and I'd expect nothing less from one of the few real estate prodigies on this website. God bless!
"Open minds backed by knowledge, wisdom, persistence, and determination equals unstoppable excellence"
- wrecklessKane
Hello.
I first want to say thank you for all the informative comments and advice. I am new to REI and just lost my job. I bought BARM two weeks ago and I am almost finished. Since then, I have been meeting new agents, brokers, and getting out there with my wife even children sometimes looking for the winning deal/s.
However, in spite of this, I just lost my job after giving them my all. So my only fear is that I have 3 children that have needs. I am not lazy. I just feel like I kind of been running around like a chicken with no head. I am looking for a job right now, reading the rest of BARM, even outloud to my wife while she is cooking dinner to save time. We have about four months of financial cushion that will pay for rent and most utilities and are trying to cut back on anything not needed. I could not come up with the money for the mentoring program, so we are winging it. My FICO is at 640 right now, I have no extra money, and every home Lender/Bank demanded a down payment(FHA) whether it be a HUD, foreclosure, seriously NOT updated and way under market value properties.
From what I have learned thus far I am thinking Creative/Seller Financing, Investor Partnerships, Birddogging, and even wholesaleing if possible. I am not going to quit; however, I am pressed for time...and stressed a little.
Please provide any wisdom you can to this. Thank you.
Don
Don and Paula
It must be very stressful for you right now! Just keep your head up and spirit up. Come here as often as you can and learn. I am sure very soon you will start to have some ideas where you can start. Because I was in the same boat and just figured out some directions that fit me. I am new too. A few months ago, my husband and I were struggling too, bills were up to our eyes, we had to work extra hard to survive. But we're always conviced the real estate is the direction for us especially right now. We'll and you will too learn as we're doing it. Just have FAITH!
Thank you so much for the support. I am happy to say as of yesterday that I found a new job in this difficult job market. Thank GOD! We can now focus more clearly on REI part-time with bills being paid.
--Don
Don and Paula
Rina,
Just learned this one today!
NTS = notice of trustee sale![Cool Cool](http://mail.deangraziosi.com/modules/smileys/packs/example/cool.png)
Niki
Thanks, Niki, for the contribution!
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
i believe it is called .gov !
I see in many of the REO listings this statement--- "Taxes Prorated at 100% of latest bill". Does anyone have some insight on this ?
Thx, Bruce
Hello Bruce,
The tax pro-rated at 100% of latest bill means you will be credited for unpaid and accrued property tax based on the most recent bill at closing. Thus, if you close on a property on February 1 they would credit you the entire month of January at closing (31 days). The way to calculate it for each property you are interested in, is look for the tax information on your county's assessor or treasurer website. They should have the most recent tax bill. Then divided the number by 365 (365 days in a year). For each day since January 1 to closing you will be credited the tax accrued by not yet paid. If you can not find the information on line, you can call them directly and usually they are very helpful in providing the tax amount. I hope this helps. Good luck![Smiling Smiling](http://mail.deangraziosi.com/modules/smileys/packs/example/smile.png)
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA
I just want to thank all the contributors for the information.God Bless
I used the site again today to look up something. Thanks for the insight, information and contributions. Believe and Achieve!![Smiling Smiling](http://mail.deangraziosi.com/modules/smileys/packs/example/smile.png)
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA
Hi,I'm new still reading the books I'm a little overwhelmed with this whole process I really want to do this!!! I need a Mentor or some type of guidence in order put everything into perspective on what comes first, second and so on. To esablish some type of solid foundation to work from. My faith and determination is strong at this point the guidence that brought me to this here is nothing short of Devine intervention. When! (not if) when! this works out it will make for a great testimony. When I become overwhelmed, frustrated, disgusted. Where or to whom Can I turn to get some Help.
Thanks in advance Thomas
*********************************
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. JUST in case anyone didn't know
)
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
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
HOLA como estas Rina Creative artistic open minded
Entrepreneurist*B Excellente info (knowledge) Gracias
STICKS WIZZARD DRAGON the ENCHANTMENT OF SPIRITUAL ARTISTIC PASSION
Now we know where the ankle biters found text typing and i thought,LOL meant a lot of love! I was wrong laughing with you.Our world changes by the second and i do hope the best for YOU!
randster
Hi,
My name is Arbra. I bought the books and the foreclosure alert services. I got an agent to assist me in bidding on some property and she doesn't seem to be aware of any of the steps suggested in the book. I am getting ready to go to real estate school to get my license. Don't they teach you some of the basicconcepts Dean talk about inthe the book?
Arbra
Thanks for the glossary of real estate terms. Is there also a wikipedia to these terms? Something that will help me remember what each of these do in the real estate world? My first post and am loving the book, the edge and the website... Thank you Dean and gang. I'm absorbing like a sponge.
Barbara
Owen Properties, LLC
A term Dean uses in one of his "Deal of the Month" vids is 'Equity Partner'. Will you please explain this and include it in your list? (EP)?
Off topic: I ordered the two books this morning and they will not arrive for 2 to 4 weeks. Any suggestions as to what I could be doing to advance my knowlege/ prepare things in my life to hit the ground running once the books arrive and I read them?
Thank you!
Rob
Hi, I am just getting my feet wet in all this information that I have taken in. I am putting it to work now! I am very excited about it! I see so much potential in the market around me. Now, is the hard part,,,getting the backing for the property! LOL But I know, like everyone else,,,you have to do the work and research on the market around you and know when to make a offer!
well, thanks again for your list,,,,that's what a needed in order to know the terms.
Thanks Rina for the list
God Bless
what does the term "seasoning" mean ?
Dave & Gay
Lloyd Properties, LLC
I do almost did a mentor program that was going to cost me $6500 but backed out because after I researched and found out others thought it was a scam and didn't learn anything. It was for real estate mentors who were supposed to be millionaires who have done it all. but after researching I found out they weren't nothing more but certified people that took a course on how to sell a product!! thankfully I didn't do it and found this site to help me out!!
Don't let something temporary, keep you out of the game permanent.
Spencer's Investing, LLC