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I bought elliemae's via kindle last week; only half way through it and already found a buyer for a hardcopy based on my recommendation.... so I picked up Patrick's along with it. Looking forward to another good read.
Patrick, be sure to drop a note when you're book tour hits Boston. I'd like to have my copy signed!
Will the National Association of Realtor®'s try to sue Patrick for bogus accusations of slander, libel and defamation against their Realtor®'s and Brokers?
I'm actually a bit worried about that, but I carefully checked each mention of Realtor® to consider whether they are defensible, and I'm pretty sure they all are.
So a lawsuit might just be a gift of great publicity.
Very cool. Just ordered a copy and hope it's a successful venture for you, Patrick.
Will this be available in eBook format eventually? Kindle, etc? Would be great!
Will this be available in eBook format eventually? Kindle, etc? Would be great!
The "troops" have spoken Patrick. Paper is so 20th Century.
I love paper books, but OK let's see. It takes a little more work for me to do the Kindle thing, but not too much, just have to reformat some things. Maybe it will cannibalize sales of the paper book though.
Would you pay $8 for a Kindle version? That would make the royalty come out pretty close to even with paper.
Maybe [an e-book] will cannibalize sales of the paper book though.
Maybe a little, but there are different markets and different uses. For myself, I prefer digital, but I read mostly online for free. As a gift for others, I prefer paper because it makes a better present. I will probably read the printed book quickly then give it to a friend, then someday look for the electronic version so I can text-search as human memory inevitably drifts over time. Also your sales will probably follow one or more curves, depending on what's in the news; at some point you might want to give away the electronic version in order to promote your next book. (Suggestion: "The Medical Trap!")
(Suggestion: "The Medical Trap!")
Yes! I was already wondering what to put in the bear trap image for the cover of that one.
OK, I'll do the Kindle thing for $8. Might take a couple of days.
Should I also look into the iPad bookstore, whatever that's called?
I was already wondering what to put in the bear trap image for the cover of [The Medical Trap]
Something like American Gothic, except with an IV on wheels instead of a pitchfork:
American Gothic Look-Alike Contest
Should I also look into the iPad bookstore, whatever that's called?
It's part of the iTunes store but IDK more about it.
Apple reader is iBooks but most have a kindle app on their iDevice anyway....so no biggie imo. (but beware i am not a book publisher!)
$8 works for me.
I like reading my ebooks on the plane when I'm flying between SFO and SAT. I have my smartphone in one pocket and some earbuds in the other. I don't do carry-on.
Between music, podcasts, reading, and checking out the good looking flight attendents (female of course), the four hour flight goes fast.
Speaking of books, my current read is titled "Tandem Computers Unplugged." An interesting book about Silicon Valley in the early 70's as well as Tandem Nonstop (the platform I work on).
You ever hear about Integrated Research and their Tandem monitoring product called Prognosis?
Invented by a distant relative named Steve Killelea in Australia.
Congratulations Patrick!
Geez, I need to try writing a book. You and Elliemae are .
If Patrick gets sued by Realtors, or any housing shills, we should all donate for his defense fund, I know I will.
I bought elliemae's via kindle last week; only half way through it and already found a buyer for a hardcopy based on my recommendation
Thanks. My book has a specific audience, while Patrick's appeals to a larger audience. Let's make his a best seller. :)
ok and mine too...
Congratulations on this publication, Patrick. I hope it turns out to be a success on all fronts.
when is the 2nd edition coming out?
After I get the first wave of corrections and suggestions from the first edition! I plan to keep it well updated.
I was going through the motions of publishing on Kindle, when they presented me with the usual legalese horror to accept without objection, and I decided I'd better actually read it. This gem really stood out:
1 Exclusivity. When you include a Digital Book in KDP Select, you give us the exclusive right to sell and distribute your Digital Book in digital format while your book is in KDP Select. During this period of exclusivity, you cannot sell or distribute, or give anyone else the right to sell or distribute, your Digital Book (or a book that is substantially similar), in digital format in any territory where you have rights.
WTF? Why would I ever give them exclusivity and give up all alternative sales channels? This means I could not even sell my own digital book on my own site.
Then there were other questionable terms that made it sound like they could give the book away for free when they want, and how they could also change the terms at any time and I agree to whatever the hell they come up with.
Fortunately, it looks like it's possible for me to create a Kindle-formatted version on my own and not give up the rights to sell on other platforms. Not entirely sure of that though. The Kindle formatting software may have equally ridiculous terms.
Let me know if you have any advice about creating a Kindle file.
Wow, Amazon's credibility is plummeting fast with me.
They have a line in the terms that says you can contact them with feedback:
1 Agreement Acceptance. You accept this Agreement and agree to be bound by its terms by either (a) clicking agree or accept where you're given the option to do so or (b) by using the Program, or any part of it. If you don't accept the terms, you are not entitled to use the Program. We welcome feedback on this Agreement at https://kdp.amazon.com/self-publishing/contact-us
But when you go to that URL to tell them just how much their exclusivity demand sucks, they won't let you do anything until you first accept all their terms -- the very same freakin contract that I'm telling them I do not agree to.
Time to short Amazon stock?
Amazon is the neighborhood bully.
Apparently when you are the market leader you get to make all the rules. For most publishers, the cost of not being in the Kindle marketplace is too high...
Kindle reads PDFs though, right?
I'm hoping I can publish on Kindle without giving up any rights.
I don't know Patrick, if congress, the president, parents & even my wife are conspiring against me (Chapt. 2), I think I may have bigger problems than owning some real estate. Perhaps a little too much hyperbole?
Not hyperbole at all!
Has Congress or the President ever suggested that promoting mortgage debt is a bad thing? I don't think so.
What do your parents think about your buying a house? Ask them.
Same for your wife.
In the large majority of cases, they all want you to buy and don't understand (or don't want to understand) the idea that you might be far better off financially by renting.
Patrick says, "In the large majority of cases, they all want you to buy and don't understand (or don't want to understand) the idea that you might be far better off financially by renting."
This was almost exactly my experience of the last seven years. My parents and friends swore up and down that I was throwing away money on rent when I could be building equity by buying. I gave up explaining my position and the fact that the RE market was bubbled after a few years. Honestly tho, if my wife wasn't on board with my reasoning it would have been much harder to wait it out and rent. A few coworkers were pushed into big expensive home purchases by their wives and are now renters again, having been foreclosed. All this despite making six figure salaries.
Your book is very aptly named.
Thumbs up!
Same for your wife.
For the next version, you might want this chapter to be entitled 'Your Spouse.' Albeit, I haven't read the contents of the chapter but I would imagine similar arguments come from husbands. I've got a friend whose husband doesn't want kids yet because he wants to be a homeowner first! Personally speaking, I have a husband who has no interest in financial decisions but has always dreamed of being a 'homeowner'--both due to pride and wanting to customize his garage...
Plus, the label makes it sound like a wife is not an equal contributer in 1) the household income or 2) the financial decisions of the family.
It's not politically correct to say so, and of course there are exceptions, but even today a house is generally seen as something provided by a husband for a wife -- and that's in just about every culture on earth.
The characters in "Suzanne Researched This" are playing on these traditional roles because that's what's in people's brains:
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It's $12.50 so that if you buy two (makes a great gift!) then you don't have to pay any shipping charges.
Here is the table of contents:
Trapped! 8
Can't Sell 9
Can't Pay Off Mortgage 10
Must Keep Obeying Boss 10
The Conspirators 12
Your Agent 12
Your Mortgage Broker 18
Your Bank 18
Fannie And Freddie 19
The Federal Reserve 20
Newspapers 21
The NAR 23
Congress 24
The President of The United States 25
Current Owners 25
Your Boss 26
Your Parents 27
Your Wife's Parents 27
Your Wife 27
Fallacies and Fantasies 30
Appreciation 30
Building Equity 32
Renters Throw Money Away 34
Tax Deduction 37
Real Estate Is Local 39
So Little Supply 40
So Many Buyers 40
Foreigners 41
House Prices Don't Fall To Zero 41
Supply And Demand 42
Land Shortage 44
Fundamentals Don't Matter 44
Commissions Don't Matter 45
Agents Don't Care What You Pay 46
My Neighborhood Is Different 46
You Have To Live Somewhere 47
Rentals Not Available 48
Rentals All Suck 48
Owners Can Remodel 49
But The Newspapers Say... 50
But The Appraiser Said... 51
Home Sweet Home 52
Status 53
Affordability Is Good Now 53
Owning Limits Your Monthly Payment 54
People Buy On Emotion 55
Baby Needs House 55
I Just Want It 56
Scams and Dirty Tricks 58
Realtors® Claiming They re "Free" 58
Claiming That You Need An Agent 60
Showing You The Ugly Dogs First 61
Underpricing 62
Missing Price 64
Missing Address 64
Renting Property Without Permission 65
Straw Buyers 65
Faking Comps 66
Faking The Dimensions 67
Faking The Sale 67
Erasing Price History And Relisting 68
Faking Higher Offers 69
Hiding Your Low Offer 69
Taking Bribe To Hide Your Offer 70
Hiding Offer To Get Double Commission 70
Hiding Offer To Get Seller To Take Loss 71
Photoshop 71
Advertising Agent Instead Of House 71
Kickbacks 72
Bribes 72
A Trick Of Your Own 73
What Should You Do? 75
Be Paranoid 75
Never Sign Any Agent Agreement 75
Never Reveal Your Price Limit 77
Hire Your Own Independent Inspector 78
Favor FSBOs 78
Do Not Rush 80
Do Not Overpay 81
Deliver Offer To Seller Personally 83
Pay Cash 84
Long Term Lease 85
Walk Away 85
If You're A Realtor® 87
Calculating Fair Price 88
Two Kinds Of Rent 89
Borrowing Does Not Help 91
Downpayment Doesn't Help Much 91
Conventional Mortgage 92
Deduction Doesn't Help Most People 93
Appreciation Is Uncertain 95
Taxability Of Gains 96
What About Leverage? 97
What About Inflation? 98
Rules Of Thumb 99
Anything else? 101
Long-Term Solutions 102
Call Housing Inflation What It Is 102
Help Correct Reporters 103
No Public Guarantees For Private Debt 104
No Mortgage Interest Deduction 105
Public Bids On Housing 107
Legally Binding Offers To Sell 108
Eliminate Comps As Meaningless 108
No Empty Houses 109
Publicly Financed Elections 110
End Proposition 13 In California 111
The Georgist Land Value Tax 112
Spread The Word 113