New Investor - Learning Real Estate Terms & “Lingo”

6 Replies

My Fiancé and I are total newbies to real estate investing. We’re looking to make our first purchase in 2020 or 2021.

Where can I go to learn the terminology so I can make more sense of the articles I read?

Also- Any book recommendations???

Thanks for the help!

@Liz Collier Welcome to the BP community! I would start by browsing forums, learning the inner workings of the website and using all it has to offer. Listen to the podcasts...so very helpful! Even if you don't understand everything they are talking about, you will walk away with something new every single time. 

Where are you located?

Liz you can Call me MSOOTKAUG!

Now, don't worry too much about the lingo. All that stuff will come to you.

You must know by now what you are interested in, Everyone likes to flip houses because yoomanz are inherently masochistic deep down. Also you lil earthly creatures like buy and hold strategies, again because yoomanz a glutton for punishment

So Lets take flipping and B&H (Buy and hold).

If this is a hobby... mehh go to MLS find an agent and they can help you get a house /year.

You want to be a God and be filthy (rich)?  And you want to be like your hero MSOOTKAUG, and build an empire, then establish your self among the filthy and powerful while secretly building an army of robotic minions to take over this rotten planet? then you take this seriously and instead of jumping in and winging it you give yourself 10 days to do research and figure out it is what you need.

You already know what you want, flipping and B&H.. right? So what you need is obtained from working backwards.

You want to flip your first house.. well for that to happen you need a house, for that to happen you need money and you need a way to fund a house.. so your needs will split in different directions and you go on and on till you reach the exact point where you are now.

Then you follow those points and there you have it Magically a step by step business plan on how to become a MSOOTKAUG! (And believe me . everyone wants to be a MSOOTKAUG!)

Here is the important part. NO MORE than 10 DAYS of research time! After this you need to start ready or not!

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