As I write this post, I am staying a long weekend in the Atlanta area for 2 seminars. One of those seminars starred Rudy Giuliani, Larry King, and Colin Powell yesterday.
It was one of Peter Lowe’s huge stadium-packed, traffic-clogging, “Get Motivated” seminars where he brings in these huge star speakers to speak and teach. I have to admit I couldn’t resist. The thought of watching and learning from these heroes of mine was too irresistable to pass up.
Rudy Giuliani’s presentation was a bit short at 35 minutes. However, he did make an impactful speech of how his leadership role model came from President Ronald Reagan. Rudy believed that Ronald was a fan of “big ideas” and holding true to them no matter what public opinion was. Being true to what you believe was a big theme in Rudy’s speech.
Rudy Giuliani also believed that leaders must inherently be optimistic and decisive. He related his experiences of 9/11 and what carried him through. It was very inspiring to hear his leadership style.
Larry King was very entertaining. I was disappointed he was not on the Atlanta stage. However, he did appear through a satellite link talking to our audience. He was funny and told some great stories. However, the life lessons were less obvious. As I listened to him, I felt he was very modest but despite this, he subtly mentioned how willing he was when he was young to try all kinds of things such as broadcasting, newspapers, radio, etc. before he found his stride as an interviewer.
Last but not least was Colin Powell. I can honestly say, Colin Powell was my favorite. He is a complex, multi-faceted man. He was a soldier, diplomat, author, and now a venture capitalist, speaker, innovator. So many sides came out as he spoke. I was busy scribbling down notes of many of the comments he made on leadership and management. I was inspired, humbled, and listening intently. I knew his time of teaching was extremely limited and my chances of meeting him in the future live would be very slim. Nevertheless, I felt I learned some life lessons from the wisdom he gleaned during his career.
Colin Powell was impressive, thoughtful, and insightful. He made us think of the world as many of us never did before. And for me, he left some ideas that I hope will resonate for years to come.
Because of backed up traffic, I never got to hear Michael Eisner. Zig Ziglar and Tom Hopkins were also in attendance to speak.
All in all, it was a very heady day listening to some of my real-life heroes speak to us in the huge audience.
Kirkus Discoveries recently reviewed my book “The Intrepid Way”. I would say the review was mostly fair. However, I would say that including details was not part of the agenda of this book. There is no way any one book could contain all the details of everything I was explaining. Because the subject matter challenges conventional wisdom in an extreme way, I was pleasantly surprised that the review was not worse. Kirkus Discoveries is one of the book reviewer companies known for hard-hitting reviews. The Intrepid Way appeared to get through relatively unscathed.
An entrepreneur shares his formula for success.
Chan (TurnKey Investing with Lease-Options, 2004, etc.), once an in-demand technology consultant, found his career path too limiting like most professionals, his income was dependent upon how long and how hard he worked. He could charge higher consulting fees, but he could only work so many hours in a day. If he stopped working, his income would stop. To break free from this daily grind, he embarked on a new path, along which he developed the philosophy contained here. The fundamental principle of “The Intrepid Way” focuses on achieving personal freedom, which includes not only financial freedom, but also freedom of time. His strategy is based on income layers, which generate continuous income with little or no work or oversight required; many of the author”s revenue streams involve real estate and the Internet. Rather than outlining specific methods for creating income layers, however, Chan describes his own journey toward personal freedom, and how he can maintain the same level of success working as few as ten hours per week. He discusses the reactions of his friends and family to his decision to quit his job, and the emotional and intellectual support systems he had to create when others abandoned him. A thought-provoking introduction to an alternative way of conceiving wealth and work, The Intrepid Way meanders through the development of Chan”s philosophy and repeatedly rails against the narrow-minded people he”s encountered along the way. But readers will likely be disappointed that the author only briefly touches on a few concrete methods for creating wealth. To learn more, one must read his “TurnKey Investor” books.
Lacks detail, but motivated self-starters may find a few nuggets of wisdom.
G.A. Bixler recently submitted her latest book review of one of my consistent selling books, “The TurnKey Investor’s “Subject To” Mortgage Handbook”.
Matthew Chan”s latest book for TurnKey Investors is for experienced investors who “wish to expand their financial repertoire by utilizing the â€˜subject to” mortgage” (p.5) This review is based upon that guiding principle inasmuch as I, myself, am not one of those experienced investors, though my background was in directing lease management for a major educational institution. I therefore have a basic understanding of the logic behind and in real estate activities.
I believe this is an important point to emphasize. Why? Because as I began to read, I found myself uncomfortable with the concept being presented. Specifically, “subject to” mortgage investing is a method of acquiring property by taking title and possession of real estate, but leaving the seller”s existing loan in placeâ€”a form of seller financing. It is to the author”s credit that he immediately identifies this as a problem for inexperienced readers.
Therefore, Chan confronts the issue! After explaining the primary fundamentals or activities of acquiring property through this process, in Chapter 3 he provides an excellent source of references for readers to confirm the “legitimacy” of the process, including examples of forms used by the U.S. Department of Housing and Urban Development.
Having read several of Chan”s reference books and after sufficiently negating my earlier qualms, I settled back to be “trained.” Certainly Chan has the intelligence, experience and knowledge to write books in his professional field. However, I have found that Chan has also developed an excellent teaching skill by which he uses his writing for effective training purposes. Investors or property managers should feel comfortable asking their own staff to learn and begin using the “subject” to mortgage transaction based upon using Chan”s handbook.
Let”s see what he has to tell us!First, knowing that this is a little-known and little-used process, Chan advertises its availability “we buy houses fast.” This catches the eye of those needing to sell their hours fast! What that means is that a target audience is usually available. Why? Because there are always those individuals who have just changed jobs and therefore need to relocate quickly. Or there are those individuals who sadly face divorce or the loss of a loved one and find that they can no longer pay the high mortgage costs. For whatever reason, needing to sell property quickly is oftentimes a traumatic experience. And, for many, waiting for financial institutions or real estate agencies just isn”t the answer.
Having personally been in this situation, I must admit I looked favorably at this option once I realized how it worked. Because I had lost my job and knew I could not keep up my mortgage payments as a single professional woman, I immediately posted my home for sale. It was a nightmare as I first had to “fix” one thing after another and then wait for someone who might “happen” to come along and want to buy my home. It was just serendipity that I was able to acquire a small cabin in a nearby state and maneuver each activity to be able to both sell and buy another home as well as relocate within the time allotted; i.e., by when I would receive my last pay check! Matthew Chan could have offered me a much simpler option! And his book includes pictures of the wide variety of houses that they have acquired through the “subject to” mortgage process. In essence, Chan”s company would have taken over my former home as property managers, using the loan I already had in place.
Now, individuals considering this option would need to understand quickly that they would continue to have an outstanding mortgage loan in their name. But somebody else would be paying that bill. And somebody else would have total control of the property. In essence, then, the seller in the position of having to quickly relocate has a little-known option if there are individual investors willing to handle their property. The Turnkey Investor”s program has the ability to do this…and then use your former property to enter into a lease-option activity with another individual.I”ve personalized this review to ensure that individuals who may hear of this process will understand its potential in their own lives.
However, the book, for the professional, includes all the many details necessary to ensure that they are able to handle a “subject to” mortgage investment if or when the opportunity arises. It takes a professional agency willing to help individual property owners. At the same time, the agency must have already invested sufficient research and experience in their field to make the process work within their agency. For those professionals wishing to consider “subject to” mortgage investing, this book is a must-read!G. A. Bixler
I thank G.A. Bixler for her careful review and scrutiny of my book.
Bettie Corbin Tucker recently completed an AudioBook Review of “The TurnKey Investor’s Rental Property Repossession”. It is an extensive and thorough review.
If you have deadbeat tenants who aren’t paying the rent on time or perhaps driving you out of your mind with lease violations, The TurnKey Investor”s Rental Property Repossession by Matthew S. Chan is exactly what you need. My husband and I, as landlords, have experienced some very strange happenings with our tenants: one tried to grow marijuana on the property and another kept an alligator in the basement. Evicting tenants via the court system can be a lengthy and costly procedure one most property managers and landlords would like to avoid; however, many of them have been brainwashed into believing that eviction is their only option.
Matthew Chan, a real estate investor and property manager, personally convinced me in this audio program that there are other legal, as well as quicker, ways to get tenants to move out. Listen with an open mind and learn from this excellent teacher.Although Mr. Chan specializes in lease options, his intent is to keep many properties without losing money because of non-paying tenants. As a teen he gained much expertise in regard to leases, agreements, and business letters since his mother owned rental property. This gave him a head start when he began building his own investment portfolio in 2000. With the help of a partner, he continued to expand his business, and today, he is recognized as an expert in the field of real estate investing.
This audio program came into being because Mr. Chan saw a definite need for property managers and landlords to have information on “unconventional” ways to deal with deadbeat tenants stressing that sometimes diplomacy is easier and less expensive than the bureaucracy of the legal system. When posting to a real estate message board on this subject, he had some very negative reactions. One responder said the author was presenting a theory as opposed to fact. However, the individual was wrong as Mr. Chan based his information on personal experience and an astounding decrease in his eviction rate by 80 percent. With proven results, this is fact and not theory! Admittedly, there are times that an eviction may prove to be the only way to go; however, this should not be the first course of action. The author lists the many glitches that property managers and landlords encounter with the eviction system glitches that result in loss of money and time. He also acknowledges to landlords that there are benefits to evicting, such as having the power of the law and state government on their side. It is obvious that a decision has to be made, and Mr. Chan provides common-sense advice on how to determine whether or not to evict. He also reminds students that they must know landlord/tenant laws in their state. The author stresses that if tenants are respectful, cooperative, and communicative, it is best not to evict. In talking with tenants, he strives for a personal talk and not a personal attack, using negotiating skills with firmness and a clear approach. In most cases he believes that tenants aren’t trying to steal but simply can”t budget their money or control their lives.
Mr. Chan lists three alternatives to eviction: classifying property as abandoned, paying off or bribing tenants, and getting a signed release. Although he has classified property as being abandoned, he has never paid a tenant off to vacate property even though, in some situations, he suggests it might be financially advisable. However, he personally believes in serving the greater good via eviction as opposed to rewarding bad behavior.
Matthew Chan likes to recommend the “Signed Release System,” calling this a clean process that has the cooperation of tenants. He lists the requirements for being willing to accept a signed release as well as the terms and rights of the agreement. Mr. Chan points out the importance of not stressing collections while trying to get an agreement, reminding listeners that plans for scheduled payments will be made down the line. One aspect of this agreement that tenants will find favorable is that they will have no eviction record to haunt them when trying to find housing in the future.
There is a four-step policy for release that, when carried out successfully, will save property managers and landlords much time and expense. It bears repeating that by obtaining signed releases, the author has eliminated 80% of his evictions. That is money in the bank! It is worthwhile to note that the author presents case study experiences to demonstrate some of the procedures he outlines in this audio program. He is forthright in sharing mistakes that he has made as well as success stories. Matthew Chan is real, honest, wise and a great instructor.
At the end of the CD, there is a bonus section in which the author discusses when and how to use collection agencies to collect lost rents and bad debts. Again, he backs up his words with statistics from personal experiences. This audio program provides much valuable data that is long overdue. Perhaps property owners and landlords will rethink their position on routine evictions and opt for a system that results in less frustration and faster results.
I recommend The TurnKey Investor”s Rental Property Repossession as a “must-own resource,” not only as a long-time publisher and nationally published author, but as a landlord who intends to follow Matthew Chan”s advice in the future.
A big thank you to Bettie for taking the time to review one of my latest audio titles.
ForeWord Clarion of ForeWord Magazine fame has granted us permission to reprint their recent review of my book, “The Intrepid Way – 2006 Revised Edition”. They have given the book 4-stars out of a possible 5-star rating. I was pleasantly surprised at their positive review given their normally stringent standards of reviewing books.
For middle-class, white-collar workers, it’s almost required to dislike one’s job. The daily grind seems boring and spirit-crushing. It offers no mental stimulation or fulfillment, and it takes time away from family, friends and hobbies. A person stuck in such a job may not leave because he or she values the regular paycheck and insurance benefits. For years, unhappy workers have wondered how to find personal freedom to earn a living wage while working a reasonable amount of time.
To address this problem, Matthew Chan offers The Intrepid Way: How to Create the Freedom You Need to Live the Life You Want! The book may look like a get-rich-quick scheme, especially since its cover promises that the reader can “escape corporate America forever” and “retire in five years.”
Appearances can be deceiving. The Intrepid Way is written by a man with bachelor and master”s degrees in business administration, a successful entrepreneur by the age of 29 who has authored a series of how-to manuals on smart investing. With his credentials and motivational attitude, Chan provides the reader with a well-organized primer for the beginning entrepreneur.
Chan begins his book with an overview of The Intrepid Way philosophy. He drives home his point with a simple equation. Personal freedom (the goal) consists of two things: monetary freedom and time freedom. Basically, Chan believes that savvy creation and management of “income streams” (rather than nest eggs or hoards) allow a person to spend less time earning money and more time enjoying life. Chan gives readers a step-by-step plan to do so, with sections covering the philosophy and creation of “income streams,” the entrepreneurial mindset, and the importance of business and personal support networks. The logical set-up of the book ensures that The Intrepid Way is easy to read and accessible.
Although Chan discusses finance, investing and starting a business, his tone remains lively throughout, never dry or boring. Chan”s use of anecdotes makes the lessons more interesting. When talking about the go-getter spirit of staking one”s claim, he refers to the film Far and Away, starring Tom Cruise. Cruise”s character immigrated into the United States to participate in the land rush of the late 1800s. “Tom”s character, with great drama and heroism, did in fact succeed in placing a wooden stake on a piece of landâ€¦. I see so much opportunity in the world today, yet so few people are able or willing to put their stakes in the ground.”
The Intrepid Way is well-written, spirited and straightforward. Its motivational messages are interspersed with loads of practical advice. Whether the reader wants to quit the rat race entirely or just start some lucrative freelancing on the side, this book has useful pointers.
The same folks who runs Shifting-Paradigms.com also run the MangroveRootGang.com Blog. They had these comments to say about my book, “The Intrepid Way”:
I wrote a short review in our Books/Audio section on the SP website. In essence, this is the quintessential book on what you need to know on passive income. Chan’s writing is easy to read, and he comes across as genuine and no-frills. You can buy this book by clicking on the link below. If you are serious about passive income, then read this book.-RY
Thanks to MRG blog for sharing their positive feedback on my book.
Matthew Chan does an incredible job of sharing his life changing experiences in The Intrepid Way. A specific guide that recounts his personal development of a passive income lifestyle. The book simply relays a practical illustration of what passive income is, how it can be achieved, and what benefits Chan has gained as a result of this dramatic life change. The perfect primer for those seeking a better way to make a living.
I thank them for recommending my book to others as a valuable resource.
This audiobook review by Graciela Sholander was originally done in January 2006 and can be seen on Amazon.com.
This concise introductory audio program provides the responsible property investor an overview of “subject to” mortgage transactions. If you’ve heard about “subject to” and wonder what it’s about, and whether or not this type of transaction is right for you, then The TurnKey Investor’s “Subject To” Mortgage Success Secrets by investment expert Matthew S. Chan is a must-hear!
The “subject to” technique is not for the beginning investor. It’s for the responsible and more advanced investor who has plenty of past experience investing in properties and who has a very good sense of what’s involved in buying, selling, and renting out properties. What “subject to” offers is an option for investors who want to build their property portfolio more quickly, and who are willing and able to work with what Chan calls “urgent sellers.”
This audio program works well as an introduction to the subject or as a companion to the book, The Turnkey Investor’s “Subject To” Mortgage Handbook, written by Chan. The audio program offers a clear overview along with expert personal insights. It’s narrated by Chan, who candidly shares both the pitfalls and the benefits of buying property through a “subject to” clause.
According to Chan, when handled responsibly and intelligently a “subject to” mortgage is an effective way of buying properties, but it’s not for everyone. He carefully spells out who you need to work with and what you need to do to make this transaction a success. Chockfull of examples taken from his own personal experience, the audio program provides enough information to help the seasoned investor decide whether or not this type of transaction is of interest.
And as a companion to the handbook, the audio program supplies valuable information that complements the book. Listening to the program is equivalent to sitting face to face with Chan, picking his mind to find out what worked for him and what lessons he learned from his own personal involvement with “subject to” mortgages.
If you are a responsible and experienced property investor who wants to learn more about the “subject to” investing option, start with The Turnkey Investor’s “Subject To” Mortgage Success Secrets CD audio program. This comprehensive 45-minute program is short enough to listen to as many times as you need to absorb essential insider’s information.
Once you’re ready to learn more, move on to the companion handbook … but refer back to the CD often. Chan’s clear explanations and calm delivery are sure to keep you grounded, ultimately helping you decide whether or not “subject to” is right for you. Overall, this is a well-executed, highly informative introductory audio program.Special thanks to Graciela for taking the time to review my audiobook.
Special thanks to Graciela for taking the time to review my audiobook.
His follow-up, The World Is Flat: A Brief History of the Twenty-first Century is quite impressive and comprehensive. He correctly includes, outlines, and discusses the major technological advances and milestones that have greatly affected the globalization movement. Coming from a high-tech background, his material resonated strongly with me.
As a whole, I am a proponent of globalization. However, it does come with a price. People who are not prepared to take advantage of it will ultimately become victims and get swept up in its wake. I respect and welcome but also somewhat fear globalization. However, I have come to accept its inevitability.
I enjoy Friedman’s writings because he puts it in language that most people can understand without becoming an economist.
Earlier this year, Midwest Book Review generously evaluated two of my books. One of the reviews (from January 2006) included “TurnKey Investing with Lease-Options”. Here are their comments:
With contributions by Wes Weaver, professional real estate investor and property manager Matthew S. Chan has creative “TurnKey Investing with Lease-Options: How To Simply & Safely create 12% Returns With Investment Property!” a comprehensive, “reader friendly”, instructive introduction on creating, investing, and managing a profitable real estate portfolio utilizing Lease-Option. Readers will learn how Lease-Options work to simply and safely build an investment portfolio; how to generate steady, spendable cash flow through Lease-Options; finding the right real estate market to safely invest in for a reliable return; profitably manage properties while avoiding ongoing maintenance expenses eating into the bottom line; recruiting the right management team to build and guard a real estate based investment portfolio; even how to invest in a Lease Option investment strategy without the necessity of owning property. Superbly organized, informed and informative, Matthew Chan’s “TurnKey Investing with Lease-Options” should be considered a mandatory study and on-going reference guide by anyone aspiring to make money consistently and reliably in today’s volatile and competitive real estate market through the utilization of Lease-Option strategies.
Again, I thank James A. Cox, Editor-in-Chief of Midwest Book Review, for making the time to do this review.