In this article we define some frequently used terms in REISift and in real estate investment in general.

Prospects - Potential Leads. Prospects have given zero market response.
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Leads - Property owners that have indicated a willingness and interest in selling their property. Leads have given a positive market response.
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Cold Lead - A lead who has indicated they would be interested in selling their property in 6 or more months.
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Warm Lead - A lead who has indicated they would be interested in selling their property in 30-180 days
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Hot Lead - A lead who has indicated they would be interested in selling their property within 30 days
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Dead Lead - When a lead is no longer responsive. They are “ghosting” you.
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Sequential Marketing - Uses several steps to keep in touch with the customer in a planned and sequenced manner over a measured period of time. Regular contact is the key.

Niche Sequential Marketing - Niche Sequential marketing focuses on systematically targeting a smaller number of prospects as quickly as possible using many marketing methods simultaneously. At REISift, we often call this the Sensei Flow.

Bulk Sequential Marketing - Bulk Sequential marketing focuses on systematically targeting a large group of prospects using one marketing method at a time.
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Exhausted Records - Exhausted records are records where all of the numbers you have for that record will not reach the owner. For example, all of the numbers you have for an owner are dead or wrong numbers.
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Opt out - is an option for unsubscribing or leaving membership from a website, blog, group or any other online subscribed service. For example, someone may choose to opt out of SMS marketing
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Cold Calling - Cold calling is the solicitation of business from potential customers who have had no prior contact with the salesperson conducting the call. It is an attempt to convince property owners to sell their property to the cold caller.
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SMS - Short message system. Commonly referred to as texting. Texting can be used as a marketing strategy
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RVM - Ringless Voicemail
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​Direct Mail - Direct mail is a form of advertising relying on printed materials and the postal service to deliver advertising appeals directly to consumers.
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Door Knocking - Door knocking is a technique real estate professionals use to generate new leads. It involves researching and canvassing neighborhoods and knocking on doors to speak with homeowners. Door knocking offers a low-cost way for real estate agents to build trust with homeowners and find new listings.
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​Return Mail - When mail cannot be delivered to the address and is returned to the sender.

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Revenue - A business’s revenue is its gross income before subtracting any expenses.
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Expense - An expense is a cost that businesses incur in running their operations.
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Profit - Profit is the money earned by a business when its total revenue exceeds its total expenses. Profit = revenue - expenses
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KPI - Key Performance Indicators. In real estate marketing KPIs can include dials, answers, leads, etc.
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Scale - In business, the definition of “scale” is to increase revenue at a faster rate than costs.

Deep Prospecting - Researching for information on a property in an investigative way to find information (relatives, heirs, trusts) in order to find the person who can sell the property.
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Driving for Dollars (D4D) - Driving through neighborhoods looking for properties that aren’t maintained (overgrown grass, damaged roof, notices on front door) and adding them to a marketing list.
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Distressed Properties - In real estate investing, a distressed property refers to a property that is in need of repair. These properties are often sold at a discount, making them an attractive option for investors. The term generally applies to residential properties, but can also be used to describe commercial real estate assets as well.
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Skip Tracing - Skip tracing is a method of adding missing phone numbers or emails to your lists containing property owner’s mailing address information so that you can reach your prospects and give your marketing pitch.

Trustee - A person or firm that holds and administers property or assets for the benefit of a third party.
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Sub Trustee - Sub trustee is a secondary trustee should the original trustee not be able to perform their duties. It’s typically a spouse or children of the trustee.
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Vacant - The USPS has registered the house as vacant. REISift automatically checks vacancy of all records upon upload and then once per month after that.

Owner Occupied - An owner-occupied property is a piece of real estate in which the person who holds the title (or owns the property) also uses the home as their primary residence.

Absentee - A property owner who does not reside at the property.
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​Zombie Properties - The property is in a situation which makes purchasing it difficult. For example, A property owner vacates a property that is entering a pre-foreclosure process. But for some reason the foreclosure is canceled. The owner still holds the title but may not be aware.
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Data Segmentation - The process of taking the data you hold and grouping similar data together based on chosen parameters so that you can use it more efficiently within marketing and operations. Often referred to as Data Buckets. Examples include Vacant, Stacked, Ouchies, Equity
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Deep Partition - A partition is a division of a property held jointly by several persons, so that each person gets a share and becomes the owner of the share allotted to him.

False Positives - When the same info is causing a result that is not accurate. Ex. A property is on both a High Equity list and a Free and Clear list. The data may appear to be stacked but actually Free and Clear is 100% equity
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Double Close - Double closing is a closing that is handled in two separate transactions, one between seller and wholesaler and another between wholesaler and end buyer.
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​DNC - Do not contact.
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Lead Management - In Real Estate marketing, Lead Management is the process of acquiring and managing leads (potential customers) until the point where they are ready to sell the property.
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Acquisitions - Acquisitions responsibility is making offers to the property owner and following up until the property is under contract. Acquisitions team members negotiate terms of the purchase and manage details related to the transaction.
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Transaction Coordination - A transaction coordinator (sometimes called a "TC") is a real estate professional who manages all the administrative aspects of a real estate transaction. A transaction coordinator will typically manage the transaction from the time an offer is accepted through closing.
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Dispositions - A dispositions coordinator is often responsible for finding a buyer for a property. They negotiate and handle the process of getting a B-C Contract.
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A-B Contract - An A-B Contract is a contract between the seller of the property and the wholesaler.

B-C Contract - A B-C Contract is a contract between the wholesaler and the new buyer of the property
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VA (Virtual Assistant) - A virtual assistant can be an independent contractor or someone you manage through a website, alleviating the need to hire someone full-time. In real estate investment, VAs often do marketing such as cold calling.
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Tire Kicker - Someone who is not making a decision.
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​REFI - Refinance
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Follow Up - The process of reaching out to prospects or leads in a consistent and sequenced manner.
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​Bird Dog - In real estate, a bird dog is an individual who searches for underpriced and often distressed properties on behalf of real estate investors. A bird dog is paid in return when their lead results in a successful purchase.

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Equity - Home equity is the amount of your home that you actually own. Specifically, equity is the difference between what your home is worth and what you owe your lender. As you make payments on your mortgage, you reduce your principal – the balance of your loan – and you build equity

Free & Clear - When a property is owned outright. 100% equity.
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Ouchies/Vexations - Issues that cause problems for property owners. These owners may be motivated to sell because these issues are creating stress in their lives.

Inherited - Inheritance refers to property acquired through the laws of descent and distribution. Though sometimes used in reference to property acquired through a will, the legal meaning of inheritance includes only property that descends to an heir through intestacy, when a person has died intestate (without a will).
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Eviction - An eviction is the court-ordered removal of a tenant from the property where they reside. A landlord may decide to evict a tenant for nonpayment of rent, damages, illegal activity, violating the terms of a lease, or if the landlord wishes to take possession of the property.
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Tax Delinquent - Tax delinquent property means any property on which the taxes levied and assessed by any party remain in whole or in part unpaid on the date due and payable.
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Pre-Foreclosure - Pre-foreclosure is the time period that begins when a borrower defaults on a mortgage and ends when the lender either forecloses the property or agrees to an arrangement that allows the homeowner to stay put.
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Foreclosure - The action of taking possession of a mortgaged property when the mortgagor fails to keep up their mortgage payments.
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Stacked Data (List Stacking) - When records appear on more than one list. For example, a property is on both a high equity list and a tax delinquent list.
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Liens - A property lien is a legal claim on assets that allows the holder to obtain access to the property if debts are not paid. A property lien must be filed and approved by a county records office or state agency. It is then delivered to the property holder with specific terms notifying them that action has been taken to repossess a piece of property.
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Bankruptcy - Bankruptcy is a legal proceeding carried out to allow individuals or businesses freedom from their debts, while simultaneously providing creditors an opportunity for repayment.
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​Judgements - In a civil court case, after a judge or jury hands down a verdict -- or after a court-approved settlement -- a judgment is entered by the court. As part of a typical judgment, the court orders the payment of money from one person to another. But the person who owes the money (the debtor) doesn’t always pay up. A judgment lien is one way to ensure that the person who won the judgment (the creditor) gets what he or she is owed. A judgment lien gives the creditor the right to be paid a certain amount of money from proceeds from the sale of the debtor’s property.
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Pre-Probate - Pre-probate data matches the current name on a property title with the name and address of a death record. This data identifies the deceased person as still being on title before the probate process has been initiated.
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Probate - Probate is the process in which the government facilitates the distribution of a person’s assets after their passing. During probate, a personal representative for the estate will pay creditors, address tax obligations, and distribute property to the beneficiaries as determined by the will or state law.
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Code Enforcement - Properties that have received a code violation from the county or city. Examples include, Debris on the Property, Signage, Lawn Violations, Home maintenance issues.
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Wholesaling - In real estate wholesaling, a wholesaler puts a seller’s home under contract and then finds an interested investor to buy it. The wholesaler assigns their rights in the contract to the buyer at a higher price than the price contracted with the seller, and keeps the difference.
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Wholetailing - Wholetailing is when a real estate investor flips a property on the MLS for a profit without making any repairs beforehand (or at least, very few) — most wholetail deals only require the investor to clean out the property. This real estate investing strategy is a bit like a hybrid between wholesaling and flipping.
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BRRRR - The BRRRR (Buy, Rehab, Rent, Refinance, Repeat) Method is a real estate investment strategy that involves flipping distressed property, renting it out and then cash-out refinancing it in order to fund further rental property investment.
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Flipping - House flipping is a real estate venture that entails purchasing inexpensive homes that often need work, fixing them up, and then selling them for more than you paid. House flipping can be a lucrative business, but it comes with significant financial risk, especially for beginners.
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​Buy and Hold - A buy and hold investor chooses to hold onto the property as a rental for cash flow. While they may see less profit initially, they'll have a longer-term income stream from the property than a fix and flip investor

Intercom - REISift support. Reach out and chat with one of our support specialists.
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Help Center - A database of support articles and videos. Search for a topic to get immediate information.
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CRM - Customer relationship management (CRM) is a technology for managing all your company’s relationships and interactions with customers and potential customers. A CRM is used to manage your leads.
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Prospect Management System - PMS is a system designed to manage all prospects before they convert to a lead. With this system you are able to segment audiences for marketing and understand who has been marketed to and when.
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Mastermind - A mastermind group is a peer-to-peer mentoring group used to help members solve their problems with input and advice from the other group members.
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Fail Forward - To fail forward means that you have chosen to value every failure for the lessons learned and then apply those lessons in future efforts, even if those efforts might also result in failure. When you are failing forward, each failure moves you closer to ultimate success.
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​Motivated Seller - A motivated seller is someone who is in a situation that would benefit from selling their property. This could be due to vexations or life circumstances.
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​FTM - First to Market. These are the properties that you want to be the first one in your area to market to. Ex: They are on stacked lists or they are on a vexation that you focus on.
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CSV - A CSV (comma-separated values) file is a text file that has a specific format which allows data to be saved in a table structured format. This is the format used to upload data into REISift.

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