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Related Flashcards
Cards In This Set
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Net Lease vs Triple Net Lease
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Net lease tenant pays for rent + taxes, in a triple net, tenant pays rent +.....MIT Maintenance Interest Taxes
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Regulation Z
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Regulations the 4 advertising truths lenders MUST disclose for LOANS BAMF Borrowing- how much am I borrowing?APR- what is my annual percentage rate?Monthly payments - how many Finance charges - things like discount points
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What must a licensee include in their internet marketing for their real estate services?
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NAB Name (of licensee)Address (city/state of licensee office)Broker affiliation
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Deed of Trust (for further help on this check out my video breaking down: deed of trust, promissory note and mortgage)
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BLT Borrower (the trustor)Lender (the beneficiary) (ee - ee)Trustee (third party that holds on to the title until it is paid off) -used instead of a mortgage in some states-it’s essentially an agreement between a lender (beneficiary) and a borrower (trustor) to give the property to a neutral third party (trustee) until the debt is paid off
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Government Power
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PETEPolice PowerEminent DomainTaxation Escheat
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What determines what is a fixture and what is not?
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MARIAMethod of attachmentAdaptability Relationship Intention Agreement
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Bundle of Rights
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DEEPCDisposition EnjoymentExclusionPossession Control
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Adjusted Basis
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PICSPrice of home+Improvements +Closing Costs-Subtract allowable depreciation
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The 4 essential elements of value
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STUDScarcity Transferability Utility Demand
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Essential elements to a valid contract
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MCCLMutual Consent Capable PartiesConsideration Lawful Objects
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Net Operating Income Formula (check out my Real Estate Math part 1 and 2 videos breaking down all the math we need to know in an EASY way to understand)
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SORESubtract Operating expenses andReplacement reserves, from Effective Gross Income
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What you generally need to qualify for a conventional loan
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GAS Good Credit Afford the down paymentSteady Income
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Prescriptive Easement
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HOCC Hostile Open Continuous Crossing for (x) amount of yrs depending on state
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Hypothecation
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POTAn asset is used as collateral for a loan without giving up... Possession Ownership rightsTitle
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1031 Exchange
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1031 = i03i = like-kind properties
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