It seems a traditional sale gobbles up half of it in closing costs.We refinanced early last year, and another refi would cost ~$5k, plus w/ the LTV, I don't think the numbers work out just right.Too bad we were too naive to even consider those offers when they were handed to us.

My plan was to keep the condo as my residence, but after a year, refinance to fund a down payment on a multi-family property, either out of state or in the surrounding NY area.

Consult a CPA or real estate attorney to understand tax implications, build a reserve fund for unexpected costs, and research local regulations to ensure a smooth and profitable transition into rental property ownership.Good luck!

I don't want to only be an investor, I'd much rather be a GP and lead syndicates, raise funds, all the things I've been doing already with my recruiting agency.

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

.: Quote from @Jay Hinrichs:  Good for you too, Jay, for closing and funding so many transactions.

Set aside a very substantial legal defense fund if you decide to do these. 

They do offer access to mutual funds, but I do not love this option.

As the economy shifts, there will be new ways to grow your portfolio, but success will require staying nimble and informed.Bessent’s commitment to cutting the federal deficit involves a mix of spending cuts and revenue adjustments, which could directly affect government-funded housing programs and infrastructure investments.

We are getting a terrible return on our equity but I guess that happens when you are hovering around a 50% global LTV.