The process of safely removing hazardous materials from a home including asbestos, lead based paint, and mold.

A fibrous material used in many building materials prior to the 1980s that can cause cancer.  Its removal from homes being renovated requires a special process by trained personnel.

The act of transferring the buyer’s rights to another buyer in a real estate transaction.  It is a process/strategy typically used by wholesalers.

A person that locates properties for sale, or potentially for sale, on behalf of real estate investors. They are often paid a finder’s fee if the investor ends up buying the property.

A home addition or expansion involving the extension of one or more exterior walls further into the lot.

Occupants of distressed and foreclosed properties often do not have the financial means to move out of the property.  Providing them with funds (the “cash”) to be able to vacate the premises and give the buyer possession (the “keys”) is often the best solution for everyone.

Shortened version of demolition, which in house flipping is the process of removing the old items (kitchen cabinets, bathroom fixtures, flooring, sheet rock, etc.).

A process used by some wholesalers where the wholesaler closes on the purchase of a property and then immediately has a closing to sell the property to the end buyer (investor) for a small profit.  This avoids the wholesaler having to fund the purchase.

A home renovation that involves removing the wall materials (sheet rock, plaster, etc) to expose the underlying studs used in the framing.

A kitchen island with one or more sides having a large overhang (18″ or more) providing enough space for chairs (and knees) similar to a table.