When you have finished reading this book, you will have the confidence to offer a swap, you will know for sure that you are offering a genuine solution to the seller, and are benefiting you, the buyer.
Since the value of real estate has fluctuated so drastically over the last 56 years, sharing the actual figures from these swaps would, in many instances, be meaningless. My main goal in discussing these transactions is to give you some insight into how people react under certain conditions when conducting real estate deals, not to detail the rise and fall of property values. There are some transactions, however, where I will use figures to clarify larger points.
On many of the transactions I don’t use actual names and specific locations because either the individuals involved are deceased, cannot be located, or would prefer to remain anonymous for reasons of privacy. However, when full names of individuals and places are given, these are authentic.
Specific real estate and finance terms are defined in italic letters the first time they are used. These terms are collected in the glossary located at the end of this book.
Finally, before you start conducting swaps and deals on your own, I highly encourage you to contact your local real estate exchangers associations. These groups can provide invaluable information and offer help in the creative solving of possible real estate problems, as well as networking opportunities and a cooperative atmosphere where experienced exchangers are more than willing to share their experiences and knowledge.
So let's get swapping!
TABLE OF CONTENTS
- Blue Sapphire House
- Getting Started: Take Stock of Your Assets
- The Big Discounted Mortgage Caper
- How to Get the Kids Out of the City for the Summer
- The Three-Legged Exchange
- The NeverEnding Swap
- A Tax-Deferred Exchange or Two
- Bankers and Sellers Need Love Too
- Wrap Around Mortgage or Contract For Deed
- Let Someone Else Pay for Your Sailboat
- Banks and Bankers
- Banks and R.E.O.s
- Every Man Needs an Island
- The Performance Option
- Sweet and Sour
- A Long Term Lease Option to Purchase
- Making Lemonade
- C.A.T.s and T.G.E.R.s
- Back-to-Back Motor Homes
- One Technique that should have Worked
- Mining for Opportunities and Negotiating the Deal
- Offer Full Price or More
- Sweetheart Mortgage or Contract For Deed vs. Conventional
- Kelley’s 12 Steps to a Successful Swap