To say this community has no value is quite a negative judgment to make without sufficient information to make it. 

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. 

It is difficult to decipher whose opinions, judgements, and authority are fiduciary.I do believe it does take money to invest in real estate - not necessarily for a down payment but to have sufficient reserves for the investment (which does not seem to be discussed much).

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

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..

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.

We are starting to explore options for buying his shares to eliminate him as a risk and a roadblock but still have funds leftover for growth.