Every time I reveal a scam or property investment rip-off to prevent other friends and readers from falling prey to the same tricks, some lousy scumbag comes up with a new scam (or a new twist on an old one) to cheat good people out of their hard-earned cash, either in lump sums during the purchase or sale of their property, or in smaller, but no less greedy bites, month after month while it’s being paid off or re-mortgaged. I’m sick of it.

With this book, I give you a crash course on the most common reputable terms you’re likely to come across with definitions from my experience on what they can really mean. You’ll get the hang of the lingo, learn how to figure out definitions of new words and understand the real estate industry from a perspective you may never have considered before. Even better, any new term you come across while someone’s trying to ‘sell you the best opportunity of your life’ will be your red flag to be suspicious… be veeery suspicious… or to get in your car and drive as fast as you can in the opposite direction.

As extra help, I’ve also included handy hints about my favourite shortcuts and the nastiest traps to beware of.

So without further ado, here are the most important definitions which taught me how to purchase and pay out four properties by the time I was 29 (and that’s without having to release equity or borrow against another property at any time)...

Warning:

If your real estate industry professional or loan advisor uses more than one confusing or unusual term during the course of your conversation which is/are not mentioned in this book, then you can be fairly certain that either:

A)    you’re starting at a riskier or more controversial end of the property market

B)    they’re testing your knowledge and/or how much they can get away with

C)    they made it up or bastardised an existing term to make it sound like they’re on the cutting edge of the industry

If this happens to you, then be suspicious, be veeery suspicious – and feel confident that you can ask them what they mean, safe in the knowledge that you’re not going to sound like a naďve novice. Be an informed novice instead, and ask about anything that doesn’t make sense to you, before signing on the dotted line for anything...