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

But in reality you might just want to think about using a standard savings account And taking a hit from inflation on the cash because the delta from the higher interest account to the regular account is not really that much on small amounts.

Rewey: What is the solution for a Due on Sale call when you buy using SubTo and sell using a Wrap? 

We financed this deal using a residential VA Loan.

@Denise CarringerI'd suggest using a third party contract loan servicer.

@Jordyn Ohsnot enough info to helpbut if you're using a HELOC for the down payment AND getting a loan, then you're probably negative cash flow given that's 100% leveragei would never do that unless i were going to refinance in the short term

I decided to buy the property from my grandfather using a gift of equity, which allowed me to take over ownership without having to come up with the full down payment and pay for the tax lien and his closing costs.

If you're using a DSCR loan to purchase the home, most lenders use the lower of the lease agreement or 100% of the market rent from the appraisal form 1007 to determine the DSCR.

Otherwise, I recommend option two, using a personal loan.

As others have mentioned, having a good ballpark estimate of rehab costs before closing is also smart, and likely required if using a hard money lender.