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The TurnKey Investor's "Subject To" Mortgage Handbook: The Art & Science of Buying Investment Property by Taking Over Mortgages! Paperback – June 6, 2005

4.2 out of 5 stars 17 customer reviews

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Editorial Reviews

From the Publisher

This exciting new book is in Oversized Manual book format. It contains information not found in any business paperback book (to date) except in real estate courses costing hundreds of dollars.

For the first time, this type of "inside information" of "subject to" mortgage transactions are being provided to the general public in a professional and realistic way. This book does NOT cater to the "no money down" or "no credit" audience despite the fact that using the "subject to" mortgage financing technique requires no credit.

This book is NOT recommended for the beginning investor as the demands for doing "subject to" mortgage transactions require a greater degree of prerequisite knowledge and experience. This book is for the intermediate investor who wishes to expand their financing possibilities in building their own property portfolio.

Accompanying the book are supplementary reading material and accompanying support website.

From the Author

Matthew Chan is the author of several real estate investment books, "TurnKey Investing with Lease-Options", "The TurnKey Investor’s ‘Subject To’ Mortgage Handbook", "The TurnKey Investor's Lease-Option Documents Collection", and "The TurnKey Investor's Essential Lease-Option Lessons". These books teach independent-minded investors how to buy and generate cash flow from investment property .

Matthew has been involved with investment real estate through family rental property since he was a teen-ager! After spending ten years in Corporate America, Matthew escaped to become a successful entrepreneur at the age of 29. A few short years later, he started his own investment real estate portfolio. Today, that highly profitable and expanding portfolio consistently generates spendable cash flow for himself and his investment partners.

Along with launching new book projects and speaking with new investment partners, Matthew continues to oversee the management of his Internet businesses and his real estate management company.

Matthew continues to enjoy the freedom of spending time working only on projects and investments with people he likes. His business and investment interests continue to take him across the U.S. where he frequently meets and networks with new people.

Matthew is also the author of "TurnKey Investing with Lease-Options" and "The Intrepid Way" book series. That book series teaches employees how to leave the confines of the corporate world through entrepreneurship.

Matthew’s educational background includes a Bachelor of Science in Business Administration from University of Central Florida, and a Masters of Business Administration from Webster University.

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Product Details

  • Paperback: 236 pages
  • Publisher: Ascend Beyond Publishing (June 6, 2005)
  • Language: English
  • ISBN-10: 0971394741
  • ISBN-13: 978-0971394742
  • Product Dimensions: 10.9 x 8.5 x 0.6 inches
  • Shipping Weight: 1.5 pounds
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (17 customer reviews)
  • Amazon Best Sellers Rank: #2,748,322 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

By Jason E. Francis on August 21, 2006
Format: Paperback
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.
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Format: Paperback Verified Purchase
If you are looking at this book, you know as much about "subject to" mortgages as these guys do. By the way, real estate investors and agents refer to them as "sub2". The "old guard" knows them as "wraps". You can get all the information in this book online for free by googling "wrap-around mortgages". These guys are advertising their investment services. If you want to learn how to get around alienation clauses in mortgages so you can take over an existing loan without assuming it, better get a local real estate attorney in the town you want to buy in to advise you. It is a bit more costly to get the right information, but you can use it in any purchase. Also contact local title companies to see if lenders are checking their loans for alienation. Some do, some don't. You aren't going to survive an acceleration if the lender catches you, so be prepared with a back-up plan.
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Format: Kindle Edition Verified Purchase
Very good about the who and what of "Subject to" purchases. The most important part that this book did not cover is the formulas to tell a good deal from a bad deal. If you buy a property "subject to" that has a lot of equity, how do you pay for it and when? The same goes for a home that is underwater. Some underwater deals are fine, but there is a limit. You MUST have an exit plan if you intend to do this, the exit plan is even more important that getting control of the property to begin with. You have only a limited amount of time with the property before the mortgage holder starts to press you to complete the purchase, without an exit plan this idea falls flat. If you don't know where the limit is then your first deal may be your last. The procedure of buying "subject to" is advanced and new comers to the real estate investing business should be very careful when using this procedure to purchase homes. Your lawyer and title people have to be well versed in this type of deal or you could have a lot of trouble on your hands.
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Format: Kindle Edition Verified Purchase
Before reading this book I took a $400 all day class on "subject to". While the class gave me some very good local information. What Law firm, Title Company, Mortgage company and Credit Repair company to use and even to use a Servicing company to service the loan, to keep in compliance with new federal guidelines. This book gave me additional information. How to deal with Banks and Lenders, how to represent yourself to prospective sellers, general marketing ideas and overall items you must know. How to represent yourself to the Banks and Sellers was worth the cost of the book alone. In the Houston area there is a lot of competition for Real Estate. With the knowledge I learned from this book I will be able to put together a bullet proof marketing campaign and close 80% of the deals.
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Format: Paperback
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.
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