spiv

Definition

A flashy wheeler-dealer who's allergic to honest work, preferring to make money through shady speculation and questionable schemes. Think of that guy with gold chains who's been bankrupt three times but somehow still drives a Mercedes—registered in his wife's name, of course.

Example Usage

That spiv tried to sell me swampland in Florida, claiming it was 'the next Miami Beach.'

Source: Urban Dictionary (https://www.urbandictionary.com/define.php?term=spiv&defid=1470399)

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Equity

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💰 Finance / Accounting🏠 Real Estate

Advanced

subordination agreement

A contract where one lien holder agrees to take a backseat to another in the priority line for getting paid if things go sideways, voluntarily accepting second-class status. It's cutting in line, but in reverse and with lawyers involved.

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dual agency

When one agent represents both buyer and seller in the same transaction, creating a conflict of interest wrapped in a commission opportunity. It's like having the same lawyer represent both parties in a divorce.

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Sellers Market

A hellscape for buyers where every listing gets 40 offers, homes sell for $200K over asking, and you have to write a love letter to the seller explaining why you deserve their split-level ranch. Sellers just sit back and watch the chaos.

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Advanced

defeasance clause

A mortgage provision stating that the lender's title interest terminates once the loan is fully repaid. It's the legal version of 'when you pay me back, I promise to stop owning part of your house.'

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Advanced

BRRRR

An acronym for Buy, Rehab, Rent, Refinance, Repeat—a wealth-building strategy where investors recycle their capital by refinancing rental properties to pull out equity for the next deal. It's the real estate equivalent of a perpetual motion machine, minus the laws of thermodynamics.

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