All Forum Posts by: Jeffrey Nowakowski

Tony, I am in the same boat as you and I'm trying to figure out the best angle to negotiate with the bank.

I just finished my inspection and found out the furnace is unsavable, the sewer line is collapsed and the roof need major repairs. I was anticipating a lot of work on the house but these are some major items I hadn't anticipated.

I would like to go back to Chase and request a lower price, an/or credit for the repairs but I don't anticipate them being receptive.

I know that the agent is getting 6% on this deal, (purchase price $297,000) Does anyone know if it is possible to get the agent to chip in a protion of her commission for the repairs? If the deal falls through she gets nothing and the bank will foreclose, but I don't know how to legally have her pay for the repairs. Anyone have any thoughts?

The 2% rule sounds like a fantasy in most areas and obiously the lower interest rate enviroment kind of make it a moot rule.

I love hearing what investors in other areas experience.

Well this morning I had HVAC guy tell me it would be at least 3 weeks before someone can come out for a bid and they wouldn't be able to start the job till at least November.

Denver is booming and it's hard to find good contractors, but I can't wait till November to get heat.

Buying a duplex sounds like a great idea.

Keeping it and buying the 4-plex sounds like an even better idea.

I have not purchase one myself but I have seen some great deals in the Winter Park area that have sparked my interest.

Unfortunately I don't have as quite as rosey of an outlook as the author of that article does. I believe a majority of the run up in real estate prices was due to two major factors. Easing of credit standards and low interest rates.

The credit standards were tightened to a more reasonable level and we saw a 20% drop in real estate prices. Eventually interest rates need to go up and the amount of home a fixed monthly payment can buy will go down, then the rules of supply and demand will kick in to drive prices back to a historical mean.

I think there is always opportunities in the market, like good old fashion rentals, but I honestly believe home prices will be lower 20 years from now than they are today. The home real estate market is one asset that doesn't benefit from inflation due to the rising interest rates.

Than came and spoke at our local real estate club in Denver. I was pretty impressed with his speech. I knew he was trying to sell something but he gave us a lot more information than a lot of the other gurus.

I'm really interested in his marketing system and any thought anyone might have on it. It sounds like he has a great system for postcards, letters and follow up letters. If they were as detailed as he claims I might be willing to purchase them.

Does anyone know where I can buy a used copy of the marketing material? Does the course ever show up on Ebay from some investor who gave up?

Has anyone used Iggys House for listing a house on the MLS?

Does anyone know what happened to it?

For those of you not familiar with it, Iggys House was an online real estate broker that would list properties on the MLS for free. I love the service and used it several times. My properties would be listed on the MLS and realtor.com for free.

Well last week I couldn't get on their website and then I got an email saying they were no longer listing properties in Colorado. I'm looking for some information on why they shut down. Was it financial or was it a legal issue with realtors?

Thanks for any info.

There are some great resources out there these days. I too hate to pay 6% in realtor fees. Even if I got the property at .65% that is still 20% of my profits.
Open houses and craigslist.com are great sellers. Look into Postlets.com to make great flyers for craigslist.

I also have a question here. I used to use a service called iggyshouse.com for free MLS listings. Just this week their website shutdown and I got an email saying they weren't listing in Colorado anymore. Does anyone know what happened to them?