21 Things I Wish My Broker Had Told Me: Practical Advice for by Frank Cook

By Frank Cook

Within the moment variation of this best-selling e-book, Frank prepare dinner presents much more hands-on suggestion from top-producing genuine property execs to aid new brokers get their begin, or continue, a winning profession in actual property. the second one variation bargains useful advice for fast-tracking your first transaction, constructing a business plan, effectively facing rivals and lots more and plenty more.

Highlights:

Interviews and real-life insights from the genuine property industry's so much winning and best generating agents and agents.

Revised and up to date know-how bankruptcy deals a jargon-free rationalization of the hi-tech innovations to be had today.

New appendix outlines the approximately 2 hundred components of a true property transaction in a brief, at-a-glance checklist.

New end-of-chapter assistance supply sensible, take-away recommendation and spotlight key techniques.

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Additional resources for 21 Things I Wish My Broker Had Told Me: Practical Advice for New Real Estate Professionals (2nd Edition)

Sample text

It is often essential to have a lease commitment from an anchor tenant before a shopping center can be financed. ANCILLARY not the most important. For example, ancillary income for a hotel may come from vending machines that dispense canned drinks. ANNEXATION process by which an incorporated city expands its boundaries to include a specified area. The rules of annexation are established by state law and generally require a public ballot within the city and the area to be annexed. Other incorporated areas are generally protected from annexation by an adjacent city.

ANNUAL MORTGAGE CONSTANT amount of ANNUAL DEBT < previous page page_28 next page > < previous page page_29 next page > Page 29 SERVICE compared to the principal; also expressed as a dollar amount. The formula is: ANNUAL PERCENTAGE RATE (APR) cost of credit that consumers pay, expressed as a simple annual percentage. According to the federal Truth in Lending Act, every consumer loan agreement must disclose the APR in large bold type. The APR is the annual effective interest rate. See also CONSUMER CREDIT PROTECTION ACT OF 1968.

AREA CODE three-digit telephone number prefix corresponding to a geographical area that allows direct longdistance dialing. < previous page page_34 next page > < previous page page_35 next page > Page 35 ARGUMENT in a computer spreadsheet program, values that must be specified for a given function. For example, in Excel the PMT function calculates the periodic payment for a loan based on the interest rate charged, the number of payments desired, and the principal amount. The syntax of the function is PMT (rate, nper, pv), where rate, nper, and pv are arguments.

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