House Hacking Book - Launching in a month

[JustAskBenWhy]

Now that I'm done with Unscripted, I am eagerly awaiting launch so I can dig into your book.

Just give me like 2 weeks. Checking off boxes now

 

[Argue]

Yes, of course you can. However, management is an issue. But, more than that, you;d be missing the whole point of this particular book.

You say my "marketing is solid". What I think is going on here is that the book simply creates real answers for real people. It fulfills a need, so marketing for this book is easy. Now - what are the real needs (problems) that this book solves?

1. Off-setting cost of living. High burn, as I call it. Making home-ownership affordable.
2. Locaional freedom - an ability to say I'm done here, I'm going to go there now.
3. Real estate investing strategy that is easier and more full-proof for newbies.

In your case, for instance, you would do the following:

1. Buy and read the book.
2. Call, text, or email me - I will hook you up with a really great Keller Williams agent (good friend of mine who knows...)
3. Find the right property across the river in Northern NJ
4. Do some version of what I teach in the book.

I promise - you will get much farther doing it my way rather than trying to manage a house here and a house there. Guaranteed!

This is awesome! I'll come back to this post when I have completed the book.

 

[JustAskBenWhy]

This is awesome! I'll come back to this post when I have completed the book.

I am so close. Finishing all of my funnels. Creating the landing pages I reference in the book. Creating FB marketing package and funnel as well. Shouldn't take but a few more days now.

I haven't been this excited about a product since I created CFFU. I could have written a book a long time ago. I could have written more than one. But, I hate to regurgitate. I really do have something new to add to the conversation with 'House Hacking'. When I wrote it, the stuff just poured out. Had the whole book written within weeks.

And I think folks are connecting. For some it's a conscious thing, while for others it's subconscious, but based on the very early reception - this topic is on a lot of people's minds! I think I understand why...

You've got Rich Dad telling people a house is a liability. You've got Cardone putting his spin on it and telling people that a house is counter-mobility and therefore counter to economic interest of 20-30 year olds. They are both right to a large extent. And yet - there's something inherently out of whack with both arguments... 'House Hacking' strikes a nerve because it connects the dots and puts both of those arguments in check.

If you buy the right house, the right footprint, the right location, the right business plan - the house not only becomes an asset, but is able to be used as a tool to actually 10X your quality of life. House hacking as I see it is a tool to live larger, freer, and yet safer than otherwise possible. Folks are sensing this, and this is why I think I am seeing such tremendous and positive response...

Just a few more days!

 

[BlakeIC]

watched/subbed

 

[JustAskBenWhy]

Just went through your website again and actually watched your video. The casita you set up is gorgeous! Very impressive. I stay in hotels several times a month for work, and I have stayed in numerous AirBnB properties that left so much to be desired, always wishing the owner would just put a little more care into the details. It's no surprise you bring in such high revenues with that unit. I have been embracing the suck and living with family for the past year and saving up as much as I can so that I can get in on my own house-hack. Looking forward starting soon!

Yes, we made it quite nice.

The thing about rentals of any kind is that we make improvements for 3 reasons. One is obvious - to keep things functioning as intended. The other is rather obvious too - to bring in higher rent revenue due to having nicer a space. But the third reason, which few people think about, is to qualify (select) tenant base.

In the apartment world some of the greatest losses are not actually the LTL (loss to lease - lower than market rent), but the other economic losses such as bad debt, turns, increased R&M and CapEx. Those are all a function of people's behavior, and it is crucial to attract the right kind of people to your unit.

This is a lot of what I teach in this book. There is a reason I bought this house and not any other. In this location and not another. There is the reason I spent more money on the rehab, not less, and did upscale finishing textures. It's about as hard to by a duplex in the middle of the ghetto as it is to fall out of a freaking tree - that's not what I do, and it's not what 'House Hacking' is about.

There is logic behind everything, and a lot of this logic is counter-intuitive unless you've been in the rental business for a long time and have seen people and property interact. It's not hard, but it does require a marginal shift in thinking, which is what I try to deliver in the book...

 

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[JustAskBenWhy]

I'll play but you have to remind me.

Jon - of course I'll come back to this thread on Thursday! Thanks

How've you been?

 

[NickC]

I'm gonna buy and read it. Friendly advice. Be careful when asking for reviews on amazon they do not like that at all

 

[becks22]

Just bought mine

 

[JustAskBenWhy]

I also down voted the guy that shit on you in the reviews and up voted the others.

Thanks, Jon. I feel wrong asking folks to down-vote that nonsense. This book is some of my best work. It's good content, and it's funny, in a sarcastic 'Ben' kind of a way. I think this person just wanted to be an a$$, and was!

Thank you for noticing and down-voting. I really appreciate it, Jon!

 

[GuestUser450]

Just got it. @JustAskBenWhy That foreword is no joke - right to business. Congrats.

 

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[garyjsmith]

Picked up the Kindle version. Thanks for the reminder. Will most likely purchase the audio book when available as I drive quite a bit

 

[MJ DeMarco]

Just ordered, glad to support this - and I think the concept is rock solid if applied in the right geographic location. (Just so happens I'm in that location, ha ha).

 

[funkj25]

Not a big digital book fan, so I just ordered the paperback.

I've actually been trying to work through a strategy like this numbers wise in various locations. So I'm hoping your book will speed up my mental clarity here.

Cheers.

 

[Argue]

I'm apart of the club!

 

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[JustAskBenWhy]

I'm apart of the club!

Thanks so much for your support!

 

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[JustAskBenWhy]

Just purchased it. To be honest, not something I'll plan on doing myself, but for $0.99 to help a forum member out, definitely!

@Scot - thank you for your support!!!

 

[GuestUser450]

It's so mother effing annoying how you can't copy text from Kindle browser reader into One Note anymore. Anybody got a fix?

Go to kindle.amazon.com then Your Highlights. Copy text or save as a page in ON.

*edit: they're moving kindle.amazon to read.amazon - works even easier there.

 

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[mike24601]

I set an alarm yesterday so I wouldn't forget to buy. I read almost exclusively via Kindle on my Android device so 99 cents was a great deal, but I would also have paid $16.99. I was on a road trip so I stopped at McDonald's and read the introduction--already I feel I'm in for a great book! I'll be switching back and forth between House Hacking and Burton Malkiel's Random Walk Down Wall Street.

 

[biophase]

Thank you so much, Mike!

Got my copy a few days ago.

 

[AllenCrawley]

Got my copy a few days ago. Will read soon and provide a review. Thanks, Ben!

 

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[JordanK]

Missed the 0.99$ offer as I forgot to click watch on the thread. Purchased it anyways as it's an area I'm really eager to move into with the insane rents that are going in my country at the moment (Ireland). Looking forward to reading!

 

[jon.a]

"High-End House-hacking made easy"

OK, Guys. As I mentioned, the book launch didn’t go well. I am completely behind this book and believe it to offer the most actionable advice in the real estate space. But, this is lost on the audience and I need your thoughts…

This is going to be a bit long - please read through. I need advice. I held back release of audible to have another crack at positioning and marketing, and I need fresh eyes on this. If need be, I’ll re-title and re-brand.

Some preliminary findings:

Prior to the release my biggest concern was that people don’t know what House Hacking even is. House Hacking is a household name to me (and everyone on BiggerPockets), but the wider audience does not know the term.

I didn’t see this as a problem, but rather an opportunity. If I manage to create this market, there is no competition in it. However, I knew this was very much a black bag job and could be ugly at first.

Having spoken to some of the people who did buy the book, two conclusions are evident:

First

Those who know the term House Hacking, know it from BiggerPockets. But, on BP this term has been teed-up as being for those with no money and no life - buy a duplex and rent the other side, and deal with all the nonsense. Compress your lifestyle to save a buck.

Having bought my book people realized that this is not my version of House hacking. Yes, you can use it as a newbie, but this is a way to 10X. It’s not only for those who are broke and can’t pay the mortgage - this is a good strategy for underwriting the cost of locational independence.

Once people realize the up-scale(ness) of my approach, the AirBnB component and what it means, they respond very positively.

Conclusion: Based on this the title should have been ‘Luxury House Hacking’, with vacation rentals / AirBnB in the subtitle.

Second

People outside of BiggerPockets flat out don’t know the term House Hacking - period. This is evident in so many ways…

• For paid book promotion services, I received very low click rates. The title and cover wasn’t enough to get people interested, even at free and 99 cent levels.
  
  
• Even my own list had low open, click, and purchase rates. I have educated them on house hacking, but most have likely received BP’s messaging as well, diluting the value.

Conclusion: Once people see on the inside of the book, most respond very positively. But - most don’t make it past the title on the cover!

Challenge: I am marketing to a niche that isn’t yet developed. I’d have to be the forerunner in creating this space.

Third

Whenever I talk to people about the idea and present it as a way to move into luxury markets, they become very excited. I am getting constant confirmation the quality of the book and content is excellent. So I feel great about the product.

Fourth

The FastLane has offered far and away the best reception and support to me. Even much more so than my own list!

First - thank you, guys! I really appreciate this community. But this does make me think the following:

You guys were quick to recognize the value in what I am presenting. But, everyone here is specifically and outwardly entrepreneurial...

My book, unlike so many books, is a literal call to action. For the newbies who have tried to break into REI but can’t - I gave them the formula. And for seasoned players that want more out of life - I gave them a formula as well. So - by buying the book and accepting the message, folks now have to take action. Right?

This might be some of the trouble. As with everything I do, I don’t tell people it’s easy -- only that it is possible, and this is how. But, most want easy… So, did I make a strategic mistake by not pushing the “easy and quick” message?

This is where I am. I believe in this book. I think the message is good and should have legs. The methods are proven since I am doing a House Hack in real time. If you have any thoughts, please share...

- Do I retitle and re-release?
- Do I keep the title, but rework the marketing?

What are your thoughts?

 

[GuestUser450]

What are your thoughts?

I think niche books do best when you pick one end of the market. So, it's either essentially a business card and a way to build authority, or it's priced much higher and part of package, like a course.

Idea for relaunching the book as part of a course:

• Presell the course with webinars where you summarize chapters, use excerpts from the course, real case studies and testimonials, outline the process, locations that work, marketing, etc. - Drive signups through your existing list, and traffic from fb ads (pm if you haven't run them, I'll share what's working)
  
• Course content: screencast videos of you delivering a powerpoint/keynote presentation where you explain each chapter and next steps.
  
• Take the book, the course, the videos you already have, the bonuses, add a private fb group and a maybe skype call where you help them examine deals.

Because it's so specific in scope, the information lends itself to being priced higher in a different format and I'd argue it'd be more helpful to people who've never done this before.

 

[EvanOkanagan]

Hey Ben,

Read the sample on Amazon and looks great so far! I like the writing style.

Does your advice apply to most countries? Or is a lot of it American based? I've read a bunch of US Real Estate books but often some of the teachings don't apply elsewhere. I live up north in Canada fyi

 

[TheDillon__]

Interesting. Wouldn't mind checking it out. Are preorders available?

 

[JustAskBenWhy]

Interesting. Wouldn't mind checking it out. Are preorders available?

Yep, just join here.

 

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[TheDillon__]

Yep, just join here.

Cheers. Thanks!

 

[amp0193]

Very good write up @JustAskBenWhy.

I've always been interested in house hacking, and I really like what you did with this one.

Looking forward to the book.

 

[JustAskBenWhy]

Nice work Ben! Downloaded the PDF, great read!

I've been tossing around the airbnb possibility also. Your casita rental has given me another avenue.

I backed into it. Have been a landlord for over a decade. Came looking for something else and totally just fell into a formula that's stellar, in my opinion.

 

[JustAskBenWhy]

Very good write up @JustAskBenWhy.

I've always been interested in house hacking, and I really like what you did with this one.

Looking forward to the book.

It's hard enough looking for a primary. And it's hard enough to find a good investment. But, trying to combine both is indeed tricky. I studied this particular sub-market for 6 months. Looked at hundreds of houses. But, I think I figured out a synthesis that really works on both ends of the spectrum...