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The Intrepid Way

Independent Professional Reviewers (Tucker): The Intrepid Way

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Read the review by Independent Professional Reviewers (Tucker) of The Intrepid Way.

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As a person with an entrepreneurial spirit and, sometimes, unconventional wisdom, I was not disappointed in reading The Intrepid Way by Matthew S. Chan. In reading the book I used my yellow highlighter to mark important passages; however, I soon realized that I was highlighting most of the book.  Every chapter contained information that kept my eyes literally glued to the pages as the concept of “personal freedom” was explained in a way that was easy to understand—it made sense.  No, it isn’t a “get-rich-quick” book filled with dull facts and figures; instead, it is a personalized story as told by the author who lived it. After ten years of selling his employable skills to the corporate world, Matthew Chan decided he wanted more out of life and took the necessary steps to bring this about. He wanted a lifestyle that gave him monetary freedom as well as time freedom.

In the introduction of The Intrepid Way, the author shares how two individuals made him see that he had something important to say that would benefit others; they helped him feel comfortable in regard to his qualifications for writing this book. Mr. Chan understood that other people wanted what he had obtained—freedom from the daily grind associated with being, more or less, owned by an employer.  He allows readers to follow him on his journey as he takes risks and defies conventional wisdom by walking away from a high-paying job with all its security perks to become a successful entrepreneur with layers of streaming income that provide him the means to live as he chooses.  His formula for personal freedom is:  Personal Freedom=Monetary Freedom+Time Freedom. This formula isn’t complicated and is realistic for individuals who truly want to change their lives . . . perhaps even take them back by straying from the entrapment of conventional thinking.

I found the chapter on Financial Fundamentals to be a refresher course on the accounting practices that are taught in most colleges.  For the most part, the author ignores formal practices, defining assets and liabilities in a clear, concise way that readers will understand and appreciate.  He emphasizes that most colleges focus on teaching students to become employed rather than becoming entrepreneurs.

When I finished reading the book, I found myself wishing that the author had gone into more depth in explaining his sources of streaming income; in other words I wanted to know exactly how he made his money whether in real estate, selling on eBay, publishing books, or investing.  Though I realize every individual will have to create his or her own layers of income, depending on skills and interests, I was hungry for more knowledge from the teacher—for more details. However, when I went to visit his web sites at www.theintrepidway.com and www.ascendbeyond.com, I discovered other books that provide some of this information.

If you like the thought of being in charge of your own life—even enjoying little things such as sleeping in as late as you desire and traveling anywhere at any given time—then consider this a must-read book. It covers a great deal of material, including the importance of personal support networks and how to utilize business networks.  The Intrepid Way is about a journey that requires you to take a first step so that you can eventually create the perpetual or continuous wealth that you seek.  It isn’t about being rich; it is about lifestyle choice! Remember the formula: Personal Freedom=Monetary Freedom+Time Freedom.

Bettie Corbin Tucker

 

The Intrepid Way

Independent Professional Reviewers (Bixler): The Intrepid Way

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Read the review by Independent Book Reviewers (Bixler) of The Intrepid Way.

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This may be the best self-help book that you ever read!  Unfortunately, for me, it came into my hands much too late, for I’ve already finished a life-long career.  Still, as I read the book, I found myself getting enthused and even exploring new ideas, just as I used to do!  Matthew Chan in The Intrepid Way: How to Create the Freedom You Need to Live the Life You Want may indeed inspire the necessary courage, may indeed help you determine whether you are brave enough to follow his guidance. You may have the entrepreneurial spirit and the courage that can result in your totally following his formula to success.  Maybe not!  Regardless, this is still a Must-Read book! Why?  Let me share my experience with this and other books by the author.

Matthew’s books are written as if he is talking directly to you.  He is the teacher. We are his students if we want to be.  He willingly has agreed to be our mentor and has indeed written his book as if he were right with you, discussing each topic, each issue.  Sometimes he’s enthusiastic, sometimes he’s brash, sometimes he may offend—but  always, he speaks what he feels is “truth” and he challenges you to consider and respond to those truths.

The Intrepid Way is based upon a formula.  A formula for Personal Freedom.

Personal Freedom = Monetary Freedom + Time Freedom

Matthew Chan has solid advice about the use of money, creating layers of income, etc.  He shares his fears when he risked taking the necessary step to follow his dream.  He shares his successes.  His guidance is specific and easy to follow, easy to understand.  In this and other books, he discusses his choice to become an entrepreneur.

What does that mean exactly?

Well, he quit his job!  He eliminated the stream of income that most of us use for our entire life.  He chose not to depend upon having a salary coming in every single month.  He chose Personal Freedom.

Without support from family, friends, or a salary, Matthew Chan worked hard to achieve his goal.  As you read his book, you may be interested in the way(s) he achieved monetary freedom.  He shares in detail about his work in real estate, writing, and selling on the Internet.  His thoughts and ideas are there for you to glean and develop to meet your own needs.

Aside from the money issue, which is very important to any goal, any dream, I’d like to share my personal story about why I believe this book is a must read.  Matthew Chan realized early enough in his life that he needed personal freedom and that had to include time freedom. Most of us learn from the past, from our family, from society—that we should plan to find a career for our future in order to bring in the necessary money from which we live.  Unfortunately, nobody shares that, in doing so, we may lose ourselves!

How did Matthew acquire his wisdom so early?  We don’t know. He probably doesn’t even know because it did not come to him through his family ties, or through his long-term higher education studies.  Perhaps he first subconsciously saw it.  Perhaps through one or more of his continuing education courses, he began to move early thoughts into his daily conscious.  Thankfully, for him and for those of us who read his book, we can also review and, hopefully, work to correct and save the rest of our life!

I speak from experience.  After 37 years of commitment and loyalty to one institution, I was given a letter that my position was eliminated.  Yes, there is a lot more to it than what I say here.  However, one of the reasons that I chose instead to retire early was that I had sufficient years and funds in a “mandatory” retirement program that allowed me to retire before I was 60.  Before that, however, I had had a medical leave of absence mandated on job burnout.  I had no other life other than work, even church was another time commitment that I felt had to be met.  I had indeed lost all time freedom and my personal freedom to the job.  When the doctor told me I had to choose between life and my job, there really was no choice in my mind.  I walked out and, in many ways, I continued to “walk out” for many years thereafter.

Now, the point I make is that through a mandatory retirement program and length of employment at one institution, I have the stream of income that is important to sustain basic life needs.  If I had had no retirement program, I would have been in a position many of you may be in if you were to also lose your job, your career!

Consider right now, that your personal freedom is not only important, it may be the only thing that keeps you from physical, mental, spiritual or emotional burnout.  Your job is NOT your life.  I know that now after a commitment of nearly 40 years to an institution that, in turn, had no commitment to me!  The Intrepid Way is an answer!  It may not be the only answer; i.e., there may be other ways than Chan suggests to ensure that you have the required monetary freedom.  That’s not really the point!  The point is to read between the lines.  Absorb what Chan shares with us, with you!  Let the book awaken thoughts that you have buried because you are doing the only thing you think is possible.  Remember The Intrepid Way only requires that you have courage. It requires the courage to seriously review your life and ensure it is the life you want to be living. Chan will be your teacher, your mentor, if you allow him.

G. A. Bixler

 

The Intrepid Way

About.com’s Book Review: The Intrepid Way

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Read the review by About.com of The Intrepid Way. (4 out of 5 stars)
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In “The Intrepid Way”, author Matthew Chan bypasses the motivational cheerleading of many other multiple income stream books and delivers a practical step-by-step method to create personal financial freedom and time freedom through the creation of passive income streams. His coverage of financial principles, work principles, the entrepreneurial mindset, and the importance of personal and professional support networks gives this book a depth not often found in others of the genre.

Modest expectations and attitude make philosophy and methods approachable

In sharp contrast to many other multiple income stream wizards, Chan is remarkably modest, both in his own attitude and in the expectations he sets for the reader.In his intro, he tells the story of how he finally got motivated to write the book based on conversations with two friends envious of his lifestyle:“In both cases, they knew I was not rich, nor was I living high on the hog. I simply lived a fairly middle-class life from a material point of view. Yet, from a lifestyle point of view, I was going to different places meeting different people working on interesting projects spending time on things that matter to me working largely on my own timetable. I had the monetary freedom and time freedom to do so.”Compared to the dreams of overnight riches offered by so many, this seems attainable to the average reader.Chan also makes the important distinction that this is not all about wealth:“There is no personal freedom if you have no time freedom. You also do not have personal freedom if you do not have some degree of monetary freedom. You must have both.”

Many people mistakenly assume that if they have money, they’ll have time, but this is simply not the case. Chan’s approach emphasizes a balanced approach for a balanced life.

Solid business principles lay essential foundations

Rather than shying away from some of the more technical topics, Chan tackles them with a combination of visual aids, example stories, and metaphors to suit anyone’s learning style and level. His concept of income blocks and income layers, while basically a new face on some old ideas, is an extremely effective tool for communicating the concepts to a mainstream audience. He also explains the basics of (and some of the misconceptions about) cash flow, credit cards, income models, and more, in language easily understood by people who’ve never attended business school.I was also particularly impressed by Chan’s emphasis on personal support networks and business networks, devoting a full chapter to each. As host of the MasterMind Forums, the largest business mastermind community on the Web, Matthew certainly knows the value of both. The book is particularly effective in pointing out the types of personal support relationships most people have at their disposal that they might never think of.

Great first book on multiple income, good light read for “those in the know”

The most critical thing I can say about the book is that it’s not terribly original. The concepts in the book have, in bits and pieces, been introduced by many others before now. However, Intrepid Waypulls together the information in the most straightforward, least hyped manner I have seen so far. I would highly recommend it as an excellent first book for those interested in creating passive income for themselves.For those already experienced in multiple income streams, though, it may offer little new to you. It’s a good light read, and worth it just to hear reminders of some important concepts from a new perspective. However, there’s not enough here to really use it as a reference book (that’s not what it’s intended to be, I don’t think), and the lack of an Index would make it difficult to do so, anyway.I give the book four stars, but Matthew Chan five. Whether you buy the book or not, if you’re interested in the topic, I encourage you to hook up with Matthew in the MasterMind Forums and on Ryze. He’s definitely someone you want in your network.Scott Allen
Former About.com Guide
The Intrepid Way

Kirkus Reviews: The Intrepid Way

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Read the review by Kirkus Reviews’ of The Intrepid Way.

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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.

 

The Intrepid Way

ForeWord Reviews: The Intrepid Way

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Read the review by ForeWord Reviews’ of The Intrepid Way. (4 out of 5 stars)

 

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 land…. 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.

 

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TurnKey Publisher Book Series Reviewed by Midwest Book Review

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turnkey-publisher-setThis was first posted on “The TurnKey Publishing Blog”.

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I had almost forgotten I had submitted to Midwest Book Review copies of my newest books “TurnKey Publishing” and “The TurnKey Publisher’s Audio Publishing Handbook”.

I am happy to announce they did a favorable write-up for the two books. I thank Midwest Book Review for their favorable review.

There is now a brand new two-volume series by Matthew S. Chan designed specifically to help individuals and niche groups profitable publish books as a source of revenue for themselves and/or their projects.

“TurnKey Publishing” (9781933723013, $21.95) is a complete course of step-by-step instruction on creating a commercially successful book. Chan debunks such common myths as it being too difficult to write a book, too expensive to publish a book, it being necessary to sell through bookstores to be successful, needing an agent to become reputably published. Readers will learn how to retain total creative control over their own work; use accelerated publishing to turn out three or more titles a year; produce and build a book — instead of simply writing one; sell books outside a traditional bookstore, publish outside of a traditional publisher, create a business that provides a revenue stream, convert and package personal knowledge, experience and stories into an income-producing book, and market oneself successfully even when beginning as a totally unknown author.

“The TurnKey Publisher’s Audio Publishing Handbook” (9781933723150, $20.95) has as its specific focus the creation and self-publication of an audio book and/or audio program — without going through a traditional audio book publisher or using a professional recording studio. Of special note is the cogent and practical information provided with respect to finding the right vendors to design and manufacture an audio CD package and adapting a print book to an audio book format. Every novice author aspiring to publish their manuscript and every group seeking to fund raise through publishing a book should give “TurnKey Publishing” a very careful (and profitable!) reading. Every published author and every niche publisher should carefully read “The TurnKey Publisher’s Audio Publishing Handbook” with an eye towards considering turning their print publications into an audio book format to augment their revenue stream.

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Bettie Corbin Tucker’s Review of “The TurnKey Investor’s Rental Property Repossession”

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tki-rpr150.jpgBettie Corbin Tucker has once again taken the time to review one of my newest audio programs, “The TurnKey Investor’s Rental Property Repossession”.

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.

Bettie Corbin Tucker
For Independent Professional Reviewers

The Intrepid Way

Kirkus Discoveries reviews “The Intrepid Way”

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The Intrepid WayKirkus 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. 

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G.A. Bixler’s Book Review of “The TurnKey Investor’s “Subject To” Mortgage Handbook”

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tkisub2.jpgG.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 ‘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 place—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.

 

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Bettie Corbin Tucker’s AudioBook Review of “The TurnKey Investor’s Rental Property Repossession”

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tki-rpr150.jpgBettie 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.

 

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