A converter is an active real estate entrepreneur who changes the ownership and/or physical configuration of property. Converters often transform properties into different usage types or upgrade them to increase their value.
A fixer-upper refers to a property that requires repairs, renovations, or updates, often purchased at a lower price with the intention of improving it for resale or personal use.
Rehab, short for rehabilitation, refers to the process of restoring or improving a property to a better condition, often for resale or rental purposes. It typically involves fixing structural issues, upgrading systems, and enhancing aesthetics.
Stabilized income (or expense) represents the rental income or expense, or the net operating income that is expected to be reached upon completion of construction or after a major renovation. This anticipated level of income or expense reflects a stable financial performance of the property once it has been fully leased and operational.
