Beg family and friends to fund it for you.They "might" do it if they see you've learned a lot and your business plan sounds very solid.How do I know this "might" work?

Purchase price: $125,000 Cash invested: $65,000 Sale price: $250,000 Wish I could have held onto it but needed the money to fund future deals What made you interested in investing in this type of deal?

Very unfortunate as continue to see people who are providing others with money and not understanding until its too late that their money was never secured and was gone the moment they wired those funds

I've done a few deals where the bank offered purchase + rehab funding up to 75% ARV, and then it converts automatically to a normal mortgage loan at the end of the rehab. 

I oit's too much drama to do a wrap, it's not mutually beneficial to all parties and not a true deal (from my perspective anyway).  

we did the first 3 in a 18 month period we used internal funds so no debt.. these were 350k to 400k all in projects.. so U need cash to be a spec builder or you need investors if you dont have cash..

I used the funds to acquire real estate that appreciated signficantly.

You said "100% of our funds were investors" then "my capital came from bank Lines of credit NO investors", so wondered exactly how much of the 100% was replaced. 

Question• Has anyone formed an llc to start and fund their 1st real estate purchase using a SBA loan?

If your 5th deal is good, you should be able to find funding outside the banking industry.