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…
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?
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?
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