This class was created by Brainscape user Isaiah Butler. Visit their profile to learn more about the creator.
By:
Isaiah Butler
- decks
- flashcards
- learners
Decks in this class (11)
🔹 1. General Real Estate Terms/Definitions
"To understand and correctly use foundational real estate terms when analyzing deals, explaining transactions, or communicating with clients and professionals."
This means by the end of this section, you should be able to:
-Define each term in your own words
-Recognize it in a conversation or document
-Use it correctly when talking to sellers, buyers, agents, or investors
-Know how it affects a wholesale or investment deal
7
cards
🔹 2. Property Condition Descriptions
"To accurately identify and describe property conditions in order to evaluate deal potential, estimate repair needs, and communicate clearly with sellers, buyers, and contractors."
This section helps you:
-Spot red flags or value opportunities in listings or walkthroughs
-Use the right terms when estimating repairs or marketing a property
-Sound credible when discussing condition with sellers, buyers, agents, or contractors
-Match condition terms with appropriate investor strategies (e.g.,
6
cards
🔹 3. Common Repairs & Damage
"To recognize major repair issues that affect property value, renovation costs, and buyer interest — and to use this knowledge when estimating offers or talking with sellers and contractors."
This section helps you:
-Understand which repairs are common and costly
-Spot signs of damage during walkthroughs or photos
-Ask the right questions when evaluating a property
-Use repair terms in negotiation to justify lower offers
-Know when to bring in professional inspections (e.g., foundation,
8
cards
🔹 4. Processes a Property Might Go Through
"To identify and understand key legal and financial processes that affect property ownership, seller motivation, and deal structure — especially for targeting off-market or distressed properties."
This section helps you:
-Recognize seller situations that lead to motivated sales
-Understand how each process impacts timelines and negotiations
-Tailor your approach to each situation (e.g., pre-foreclosure vs. probate)
-Spot opportunities for wholesaling, creative financing, or discounted dea
8
cards
🔹 5. Legal & Financial Problems
"To understand common legal and financial issues that can delay or complicate real estate transactions — and learn how to spot, explain, and plan around them during deal evaluation."
This section helps you:
-Identify problems that may block or slow a closing
-Understand how these issues affect title, price, or negotiation
-Ask smart questions to uncover hidden obstacles early
-Communicate professionally with title companies, sellers, or attorneys
-Spot high-risk situations where deals ma
7
cards
🔹 6. Different Parties Involved
"To understand the roles and responsibilities of each key party in a real estate transaction — and how to effectively communicate and coordinate with them during the buying, selling, or wholesaling process."
This section helps you:
-Recognize who’s responsible for each part of the transaction (e.g., escrow, inspection, financing)
-Know who to contact for specific needs (e.g., contractors for repairs, appraisers for valuation)
-Understand who’s on your side and who represents opposing i
14
cards
🔹 7. Types of Buyers
"To recognize different types of real estate buyers and understand their goals, motivations, and decision-making processes — enabling you to tailor your marketing and negotiation strategies to each buyer type."
This section helps you:
-Identify who’s most likely to buy your property based on its condition or location
-Understand each buyer’s investment strategy (e.g., buy and hold vs. fix and flip)
-Adapt your approach based on the buyer type (e.g., cash buyers may close quicker, insti
5
cards
🔹 8. Exit Strategies Buyers Might Use
"To understand the different exit strategies buyers use and how these strategies influence their decision-making, financing, and offers — allowing you to tailor your wholesale deals or investments to align with their goals."
This section helps you:
-Recognize what motivates buyers based on their exit strategy (e.g., fix and flip vs. buy and hold)
-Understand how each strategy affects timing, offer structure, and property valuation
-Identify which exit strategy works best for different type
6
cards
🔹 9. Financing & Investor Money Terms
"To understand various financing options and terms used by investors — enabling you to assess the best funding options for your deals and communicate financing details clearly with investors, lenders, or partners."
This section helps you:
-Recognize key financing options and terms (e.g., hard money, private money)
-Understand how to evaluate funding sources based on your property and deal structure
-Leverage financing to your advantage, whether you’re funding your own deals or working wi
6
cards
🔹 10. Lead Source Types
"To identify and understand various lead sources for finding motivated sellers and distressed properties — enabling you to focus your marketing efforts on high-potential deals."
This section helps you:
-Recognize where to find motivated sellers and distressed properties based on their situation (e.g., pre-foreclosure, absentee owners)
-Understand the pros and cons of each lead source (e.g., vacant homes may need repairs, absentee owners may want to sell quickly)
-Tailor your marketing stra
7
cards
🔹 11. Closing & Contract Terms
"To understand the key terms and documents involved in real estate transactions, ensuring a smooth closing process and minimizing potential issues related to contracts, inspections, and disclosures."
This section helps you:
-Familiarize yourself with the essential documents involved in the transaction (e.g., purchase agreement, HUD-1 settlement statement)
-Understand how contract terms like assignment and double closing work in wholesaling or flipping
-Know how to protect yourself during the
7
cards
More about
Wholesales - Real Estate Vocab
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Isaiah Butler's Wholesales - Real Estate Vocab flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
