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| The TurnKey Investor's "Subject To" Mortgage Handbook: The Art & Science of Buying Investment Property by Taking Over Mortgages! | 
 enlarge | Author: Matthew S. Chan
Publisher: Ascend Beyond Publishing
Category: Book
List Price: $39.95
Buy New: $24.00
You Save: $15.95 (40%)
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Avg. Customer Rating:  (9 reviews)
Sales Rank: 680450
Language: English (Published)
Media: Paperback
Pages: 236
Shipping Weight (lbs): 1.5
Dimensions (in): 10.9 x 8.5 x 0.6
ISBN: 0971394741
EAN: 9780971394742
ASIN: 0971394741
Publication Date: June 6, 2005
Release Date: June 6, 2005
Availability: Usually ships in 1-2 business days
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| Editorial Reviews:
Product Description
"IMAGINE BUYING INVESTMENT PROPERTY WITHOUT QUALIFYING FOR MORTGAGES!" The most common obstacle for any investor wanting to buy investment property is getting financing. Bankers say if you want to buy investment property, the only way you can finance it is to have a large down payment and qualify for a mortgage. But that is only one way of buying property, THE HARD WAY! Another way of buying investment property is to have sellers call you and provide you with financing that you do not have to qualify for! This exciting way of acquiring investment property uses an uncommonly used seller-financing technique known as the "subject to" mortgage. Instead of qualifying for new mortgages, you will learn how to buy investment property by safely and legally taking over existing mortgages! This one-of-a-kind handbook will teach you the art and science of buying investment property from qualified sellers using "subject to" mortgage financing. "WHAT YOUR MORTGAGE BROKER WILL NEVER TELL YOU!" You will learn how to: *Safely use "subject to" mortgages to buy investment property! *Legally take over and manage other people s mortgages! *Find qualified sellers to call you to buy their property! *Respond to sellers questions to develop rapport and earn their trust! *Analyze and determine which deals are best for a "subject to" deal! *Set up "subject to" closings so that they are fully accepted in your area! The TurnKey Investor s "Subject To" Mortgage Handbook is a real estate finance book like no other. It goes against what the traditional lending and financial communities teach and is sure to upset the establishment. This book is only for independent-minded investors who want to learn how to take control of their real estate financing and investment portfolio, not for blind followers of "banker s rules".
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| Customer Reviews: Read 4 more reviews...
 An Excellent Handbook for Professionals! January 4, 2007
4 out of 5 found this review helpful
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!
 Fluff, Fluff and More Fluff August 22, 2006
I bought this book because it seemed like it was "THE" subject-to investment guide. I've read a lot of real estate investment books and most breifly touch on the subject without going into details. Well I am at the point in my investment career that I need a little more substance when it comes to the investment process. This book was fluff. Like most other RE books it explained basic principles of real estate, finding urgent sellers, doing due diligence on the property but never went into the hard core details about the subject and didn't give a step by step guide to completing the deal. There were 3 sample forms and they had nothing to do with the actual process of closing a subject to deal.
To compound the matter, many parts of this book seem to be copied and pasted multiple times. I would read a paragraph and look back, only to find the same paragraph. SAME WORDING. The type in this book has to be 14 point and by the way, it's all double spaced. I actually got this book today and have read it already.
I wouldn't be as mad if this book didn't cost as much as it did. I feel a little ripped off. This book is definitely marketed as a "hard-core investment guide" but after reading a couple pages you realize it is for people that just want to read about investing and don't need the details or guidance to actually carry it out.
Subject To Mortgage Handbook June 10, 2006
3 out of 4 found this review helpful
My name is Josh i am a 23 year old investor from columbus, ga. I had to write a review for this book because i truely beleive in this product. Matthew Chan is one of the very few people who tell you the down to earth true about this real estate technique called "Subject To" The book is a great guide for any investor new or experienced to learn from. A nice feature of the book is that Matthew goes into details about the Infamous Due On Sales Clause which scares many investor. His guide shows you the real world of investing in subject to and not some fluff job book. I have read it 3 times cover to cover and have learned something new each time. I have even begin to use some of his ideas to better my own company. So, in conclussion if you want a real world guide to subject to investing then look no further.
A "must-read" for experienced investors frustrated by bank mortgage demands March 11, 2006
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.
Excellent resource January 27, 2006
7 out of 10 found this review helpful
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.
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