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.
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.
Earlier this year, Midwest Book Review generously evaluated two of my books. One of them (from March 2006) included “The TurnKey Investor’s ‘Subject To’ Mortgage Handbook”. Here are their comments…
The TurnKey Investor’s “Subject To” Mortgage Handbook is a guide written especially for the independent-minded investor who is seeking a more economical way to buy investment property than to make a large down payment and then qualify for a mortgage. A lesser-known seller-financing technique called the “subject to” mortgage – in which the buyer safely and legally takes over and manages an existing mortgage offered by the seller – allows investors greater freedom and flexibility. The TurnKey Investor’s “Subject To” Mortgage Handbook offers guidelines for getting qualified sellers to call the reader and offer a “subject to” mortgage, tips on how to guard against common pitfalls, and much more. A “must-read” for experienced investors frustrated by bank mortgage demands.
I thank James A. Cox, Editor-in-Chief of Midwest Book Review, for making the time to do this review.
This insightful book review on “The TurnKey Investor’s ‘Subject To’ Mortgage Handbook” was written by Graciela Sholander. I am grateful for her kind words.
Take an investment property subject that”s potentially challenging to grasp, get an expert investor to explain it, and what do you have? Matthew S. Chan”s simple-to-understand book, The Turnkey Investor”s “Subject To” Mortgage Handbook. The author does a superb job of explaining what “subject to” means, how and when it applies, and how it can benefit both buyer and seller. Risks and advantages are explained in great detail nothing”s left out. Chan even cautions against misusing this method. Only ethical, honest investors and sellers need apply!
What is “subject to?” To get the full picture, you”ll have to read the book, of course, but in short, it”s a form of seller-financing. It”s a specific technique for buying and financing property subject to the terms of the existing loan. It”s a way for experienced investors to build their portfolio of properties much faster and, in most cases, more cost-effectively.
Right from the start, Chan emphasizes that this book is written for the experienced, not beginning, investor. It”s easy to see why. The “subject to” technique is not for everyone. In significant ways, it differs from a typical real estate transaction, requiring greater knowledge of real estate and mortgage laws, sound business sense, strong ethics, and the ability to negotiate fair terms for everyone involved. So if you”re a beginning investor, this book isn’t for you.
But if you’re an experienced property investor, then you”ll find the technique outlined in The Turnkey Investor”s “Subject To” Mortgage Handbook intriguing and very possibly appealing. Chan guides you step by step through the ins and outs of “subject to”. The writing is so lucid that even someone without a financial or real estate background can understand the concept. Because it”s a fairly advanced method, though, try it only if you”re an advanced investor.
Chan carefully explains cases when “subject to” provides a win-win situation for buyer and seller alike. For a seller who faces foreclosure, for example, a “subject to”? transaction can be a lifesaver. For a serious investor looking to purchase properties at a faster pace, “subject to” can be a very attractive option.
Among the important points covered are:
* Finding and working closely with a reputable real estate attorney
* Locating sellers who want to do business with you
* The dynamics of the negotiation
* Associated costs and expenses
* Benefits to the buyer, seller, and lender
* Investment returns and profitability
* Closing documents needed
* When to invest and when not to
With editorial contributions by Wes Weaver, real estate investor, real estate agent, and property manager, this book is well-rounded and thorough. It accomplishes what the author and contributor set out to do it offers the mature investor a clear, concise, easy-to-read, and definitive guide to buying property using the “subject to” mortgage technique.
Chan has conducted a great deal of personal research and has spoken with many attorneys and lending institutions to ensure that “subject to” is both legal and ethical. Having completed his research and having found success with this technique, he”s now created a clear manual to help other investors interested in this type of transaction.
The Turnkey Investor”s “Subject To” Mortgage Handbook can easily stand alone, or it can be paired with the accompanying CD audio program, The Turnkey Investor”s “Subject To” Mortgage Success Secrets for a comprehensive package. Matthew Chan”s handbook is an intriguing must-read for the advanced property investor.
This kind book review of “TurnKey Investing with Lease-Options” was written by G.A. Bixler.
If I were still working, I would be reading Turnkey Investing with Lease-Options as I would an excellent novel! Indeed, I was not only impressed with this book; I was amazed! The main reason for my careful review of this book was that I read it wearing two former hats. One was as the experienced lease manager for a land-grant university but, more importantly, the other as a young single professional woman who had entered into a lease-purchase arrangement when I decided to buy a condo many years ago.
Even though I was already managing leased space for the university, when I decided to purchase a condo, I was not prepared for the trauma of having to face a major financial burden with no support. My mother was living with me at the time, but I knew the little money she provided would not continue through the life of the mortgage. Additionally, although I had been promoted on an ongoing basis, and expected another promotion in the near future, I had no savings or verification that I would be able to meet mortgage payments. Fortunately, my landlord wanted to get the last unit sold in this complex and offered to allow all rent payments to go toward an ultimate down payment on the actual purchase price.
If you are in a similar situation,buy this book. It is not necessarily intended for the potential new property owner; however, it provides a lot of essential information you need to know as you consider this option. For instance, for years, I sat in my new condo with nothing on my walls, no pictures, and no decorations, because my landlord had told me this wasn’t permitted. Such a little thing, but I grew to hate those bare walls and, finally, even though feeling guilty, pounded the first nail toward making that house a home! With this book, I would have been in a position to question and negotiate what I could have done in this place I intended to make my long-term home! Indeed, the acquisition of a home via lease option is based upon accepting a home, essentially as-is with the ability to improve and upgrade the building as if it were already owned.
At the same time, even though this book is written for a specific geographical area, the philosophy, the management direction, and the presentation itself all provide an excellent learning tool for an individual who has been given any type of property management responsibility, no matter where that property is located. In addition to thoroughly describing lease-options, the book covers how to research the market, purchasing, preparing, marketing and finding the right tenants. The excellent ideas used herein can be easily translated for use in any type of real estate transactions.
And, finally, if I were a potential real estate investor, not having already committed to my retirement plan, I would be in contact with Mr. Chan immediately! Why? This book shows exactly what I as an investor need to know to make the decision to consider real estate as an investment. And, what”s more, he proves his claims with sufficient facts and figures that you can believe. That”s a major accomplishment for those who are reticent to invest in anything that has some risk.
Mr. Chan”s book is perhaps one of the best written books of its type. Using the traditional training method, he first gives an outline of what he is going to explain and teach and then he repeats each item, both times providing specific details, but also anticipating any questions that might evolve based upon his presentation. You can tell immediately that the author speaks with authority, based upon knowledge and experience, readily confessing to trial-and-error issues.
Mr. Chan opens his book with recommendations from those who are involved in considering investment options. By the time you finish the book, you will have gained a certain trust for the company and its team. However, assuming you are not in a position to invest directly with TurnKey Investing, this book provides sufficient details for you to learn about real estate investments. Specifically, the use of conventional financing through a bank, versus private financing, versus seller financing is explained. The author is open and quick to point out that the best financial gain is through the use of cash/private financing. However, the use of bank financing is also explained and the returns of each are explored thoroughly. For a potential real estate investor, Turnkey Investing is worth every penny of its purchase price.
I think the real value of the book, however, is for those who are interested in getting into the real estate business using lease-options. Turnkey Investing defines a market and stays with it specifically to serve the thousands, if not millions, of people across the United States who wish to own a home but are not able to gain financial backing through the normal process, especially in the early years of their adult lives. Lease-option is an important contribution in today”s world of turmoil and insecurity. It provides a no-lose option to those who are now renting without any future return on those funds. At the same time, it provides an opportunity for houses to move faster on the market and a way by which a landlord or property manager can respond in a cost-effective as well as profitable manner.
Finally, as a long-time planner and manager, I was most impressed with this company”s use of Kaisen. This Japanese concept is the belief in making small, ongoing improvements to a business system. A review of their online activities which allows practically everything to be done online to apply for a home, the use of a hot-line as a means of dispensing valuable information and basic management decisions to expedite efficient use of their teams” time is a delight to see in practice! Even if you have absolutely no interest in real estate, if you are a planner or manager, study the book to absorb what can be learned from this efficient and effective team!
The TurnKey Investor’s Essential Lease-Option Lessons as well as CD audio programs and a Documents Collection supplement this book. However, this first book, TurnKey Investing with Lease-Options, easily stands alone as a major real estate manual. It”s a Must Read for property managers, landlords interested in upgrading their activities, as well as real estate agents, lease managers and others who are interested in this major and profitable business!
This audiobook review by Graciela Sholander was originally done in January 2006 and can be seen on Amazon.com.
