1. Conventional Loan: Standard mortgage from a bank or lender, often with a fixed or adjustable interest rate.

2. FHA Loan (Federal Housing Administration): Government-backed loan with lower down payment requirements, ideal for first-time buyers.

3. VA Loan (Veterans Affairs): Exclusive to eligible military veterans, offering favorable terms and low or zero down payment.

4. USDA Loan: Supports rural homebuyers with low to moderate income, providing affordable financing for properties in qualifying areas.

5. Hard Money Loan: A short-term, high-interest loan from private investors or companies, secured by the property itself. It's often used for quick deals, especially for fix-and-flip projects.

6. Private Money Loan: A loan from individuals rather than traditional lenders, usually friends, family, or private investors. Terms vary and are negotiated privately between the borrower and the lender.

7. Adjustable-Rate Mortgage (ARM): A mortgage with an interest rate that may change periodically, typically after a fixed period.

8. Interest-Only Loan: Borrowers pay only the interest for a certain period, then start repaying the principal.

9. Bridge Loan: Short-term financing to bridge the gap between buying a new property and selling an existing one.

10. Construction Loan: Funds for building a new property, usually converted to a mortgage after construction is complete.

11. Reverse Mortgage: Allows homeowners, typically seniors, to convert home equity into cash while still living in the property.

12. Wraparound Mortgage: A secondary mortgage that "wraps around" an existing one, combining both into a single loan. Often called a “wrap” (like the sandwich!)

13. Assumable Mortgage: A mortgage that a buyer can take over from the seller, often with lender approval.

14. Home Equity Loan: Borrowing against the equity in a home, typically with a fixed interest rate.

15. Shared Appreciation Mortgage (SAM): Lender shares in the appreciation of the property value in exchange for offering favorable loan terms.

16. Energy-Efficient Mortgage (EEM): Specialized loan for energy-efficient home improvements, rolled into the primary mortgage.

17. Subject-To: Buying a property "subject to" the existing mortgage. The buyer takes ownership, but the seller's mortgage remains in place, and the buyer makes payments on it.

18. Lease Option: Renting a property with the option to buy later. The tenant pays rent and may or purchase the right to further purchase the property at a predetermined price within a specified period.

19. Seller Finance (Owner Financing): The seller acts as the lender, allowing the buyer to make payments directly to them instead of obtaining a traditional mortgage. This can be beneficial for buyers who may not qualify for conventional loans, and tax advantageous to sellers.

20. House-Hacking: Living in one part of a multifamily property while renting out the other units to offset expenses.

21. Self-Directed IRA: A retirement account that allows people to invest in a broader range of assets, including real estate, giving them more control over investment choices, within certain restrictions.

22. Escrow: A neutral third party that holds money and important documents during a real estate transaction until all conditions are met, and the deal is completed.

23. ARV (After Repair Value): The estimated value of a property after it has been renovated or repaired.

24. Equity: The difference between the property's current market value and the amount still owed on the mortgage.

25. Appreciation: The increase in the value of a property over time due to various factors like market conditions, improvements, or neighborhood development.

26. Forced Appreciation: Increase in value of a property due to deliberate renovations by the homeowner.

27. Balloon: A real estate loan with a balloon payment requires smaller monthly installments, but a significant final payment is due at a set date, typically after a few years. Investors often plan to sell or refinance before this balloon payment becomes due. Leon Johnson says “Balloons are for clowns.”

28. Buy-Down: Paying an upfront fee to lower the interest rate on a mortgage temporarily, reducing monthly payments.

29. Spread: The difference between the cost of acquiring a property and its increased value after improvements or renovations.

30. Wholesaler: A business-person who contracts a property and then assigns or sells the contract to another buyer without making significant improvements.

31. Flipper: A business-person who buys properties with the intention of quickly renovating and selling them for a profit.

32. Bird-Dog: A person who identifies potential real estate deals for investors in exchange for a fee, without directly participating in the transaction.

33. Novation: The substitution of one party in a contract with the agreement of all involved, transferring obligations and rights.

34. PITI (Principal, Interest, Taxes, Insurance): The four components of a mortgage payment, covering the loan principal, interest, property taxes, and homeowner's insurance.

35. Assignment of Contract: Transferring one's rights and obligations in a real estate contract to another party, often seen in wholesaling deals.

36. Buying on "Terms": Acquiring a property with flexible financing arrangements beyond a traditional mortgage, often involving creative financing methods such as lease options or seller financing.

37. 1031 Exchange: A tax-deferred strategy allowing the sale of one investment property and the purchase of another, deferring capital gains taxes.

38. IRS Article 121 (Section 121): Pertains to the capital gains tax exclusion for homeowners, allowing individuals to exclude a portion of the gain from the sale of a primary residence under certain conditions.

39. BRRR (Buy, Rehab, Rent, Refinance): A real estate investment strategy involving purchasing a property, renovating it, renting it out to tenants, and then refinancing to pull out the invested capital for use in acquiring additional properties.

40. Duplex: A residential property divided into two separate living units.

41. Triplex: A residential property with three separate living units.

42. Fourplex: A residential property with four separate living units.

43. Multifamily: Generally refers to residential properties with more than four separate living units.

44. NNN (Triple Net Lease): A commercial lease agreement where the tenant pays for property taxes, insurance, and maintenance costs in addition to rent.

45. Storage Units: Facilities where individuals or businesses can rent space to store belongings, often on a monthly basis.

46. Mid-term Rental: A rental arrangement typically lasting a month to several months, falling between short-term and long-term leases.

47. Rental Arbitrage: Subleasing a property or room for a profit, often seen in the context of short-term rentals where the host doesn't own the property.

48. Short-term Rental: Renting out a property for a short duration, typically for a few days to a few weeks.

49. Discount Points: Fees paid upfront to a lender to reduce the interest rate on a mortgage, potentially saving money over the life of the loan.

50. Deed: A legal document that transfers ownership of real property from one party to another.

51. Lien: A legal claim on a property as security for a debt or obligation.

52. Take Title: The process of acquiring legal ownership of a property, often involving the transfer of a deed from the seller to the buyer.

53. Quitclaim Deed: A legal document used to transfer or release a person's interest in a property without providing a guarantee of the extent of that interest.

54. Quick Claim Deed: Incorrect spelling of a “Quitclaim deed.”

55. Warranty Deed: A legal document that guarantees a clear title to the property and provides certain assurances or warranties regarding the property's condition and ownership history.

56. Option: An agreement that gives someone the right, but not the obligation, to buy or sell a property at a predetermined price within a specified time frame