All Forum Posts by: Rebecca Cramer

 Hi Jay! So you are saying to door knock with gifts? And say "I want to buy your home and here is a gift from us to you?" Im curious how you did the door knocking. Thanks! Also what does OP mean? I know Im SOOOOO new to all this! Lol!

 Thanks for this response! So if they dont pay a commission to a realtor that means they dont need one but will I need one? I guess since I dont have a license? It seems scary to me to do it without a realtor on my end. Would my realtor deal with the stuff on their end? Just never did this before and wondering how I would go about it without a realtor on their end or ours. Any advice?

I figured this would be the place to ask a question about finding the best strategy for our next deal which would be deal #2! For the first deal we had 20% to put down and did a conventional 15yr second home mortgage in my husbands name. Our primary residence I bought before we were married and its in my name. We want to go for another real-estate investment (we are doing buy and hold..buy low, renovate and make them short term rentals on airbnb in Ocean City, Maryland). What are our options? Do we have to do an investment property loan? Can we do a second home loan for me since the only thing I have in my name is our primary residence? We would love to not have to put down 20% and want the lowest interest rate. Even 10% or 15% would allow us to get the kind of property we want since we want to save cash to put into the renovation. Are there investment property loans that dont require 20%? Thanks for any help or suggestions. 

 Great tip! My hand writing has been called chicken scratch on multiple occasions but my dad and mom have really beautiful cursive hand writing so I think I will have them compose the letter. What are your thoughts on delivering it in person, knocking on the door, or just putting it in their mail box? And not buying it for cash because I dont have but 10 or 20% to put down..

 Thanks for those tips Jim! We are a military family and is it slimy to add that tidbit? Most people are buying these homes and tearing them down to build larger craftman style homes. Our dream is to rehab the house to its original glory (1960's mid century home keeping all the traditional charm). And we dont plan to flip it but use it as a family as well as rent it out to help cover our costs (its a vacation home). Saying "God bless" may be slimy but sharing any portion of your story could be seen as slimy but if you see it as trying to make a connection with the seller, find common ground, maybe its not so slimy. Thoughts?

So we want to go for deal #2 but there is a problem, the neighborhood we want doesnt have the right house on the market. I know exactly what I want and know the 25 houses in the neighborhood that has what I want. So I guess I need to write them a letter, right? Problem is that Ive never done this before and while I want to add my own bits to the letter with some of our "story" I could really use a few examples to get started. Anyone feeling generous and want to give me an example of a full letter they have seen or used? Also, should I knock on their door or leave it in their mail box? Should I try to meet them? Lastly, we would not be able to buy it outright. We would only be able to put 10%-20% down and do a conventional 15 year mortgage on it. I guess a real estate investor loan, right? Has anyone else tried to write these letters doing the same thing and not wholesaling it ?? Does this even work??? Any help would would be fantastic! Thanks!

I figured this would be the place to ask a question about finding the best strategy for our next deal which would be deal #2! For the first deal we had 20% to put down and did a conventional 15yr second home mortgage in my husbands name. Our primary residence I bought before we were married and its in my name. We want to go for another real-estate investment (we are doing buy and hold..buy low, renovate and make them short term rentals on airbnb in Ocean City, Maryland). What are our options? Do we have to do an investment property loan? Can we do a second home loan for me since the only thing I have in my name is our primary residence? We would love to not have to put down 20% and want the lowest interest rate. Even 10% or 15% would allow us to get the kind of property we want since we want to save cash to put into the renovation. Are there investment property loans that dont require 20%? Thanks for any help or suggestions. 

Hi everyone! We are really excited our 1st investment property, a vacation rental in Ocean City, Maryland, is going so well this year we will have a chunk of change to put into a second investment property this fall/winter! Depending on the deal we may need partner with my parents who are very interested since we have done so well with the first one. Im trying to figure out, what would be the best loan to get. A conventional second home mortgage (I guess primarily under my parents name since they dont have a second home like we do) or a realestate investment loan under both our names? There is so many ways to do this and of course I want the lowest interest rate and it would be great if we didnt have to put down 20%. Any ideas??!! Thanks! 

Thanks for letting me know! Im pretty sure I wont need to pay states and federal tax but wasnt sure if room tax would come back to us if we had a loss that went beyond state and federal tax amount. It would have been great to see that money back since it could be used for our next renovation!

Hi everyone! So we just bought our first vacation rental in January and went live on airbnb in March and we are doing so well we think we can use the money we made over the spring and high season this summer for a downpayment for another one this fall! We have to pay room tax in Ocean City, Maryland where our beach house is located every month. State and federal tax is not taken out automatically so we will have to pay that at the end of the year. So here is my question, if our cost, loss and depreciation is more than our profit, will we not have to pay state, federal tax and will we get a tax return of what we have paid for our room tax. By the end of the year will will have paid out $5,000-$7,000 in room tax. I want to know if I am going to get that back. Im trying to figure out how much we will have to put down on our next house and getting that room tax back would help a TON! Thanks everyone!