Hi BP - I have a family member who owns a small portfolio of duplex/4 plexes in a collage town that cash flow well and he is willing to sell one to me for around $400k. Due diligence and the numbers look great, but I ...

The good news is I left some wiggle room for this.Unfortunately, they are also requesting for a Bank Statement stating I have $xxx,xxx amount cash.If my intention was to wholesale this deal, why do I need to show I have the funds?

Do you tell them that you are buying the house when you have no intention of buying it?

Is your intention to buy a distressed property and renovate it?

Also, BiggerPockets has a clear road map for a successful intentional mastermind group here:https://www.biggerpockets.com/blog/wp-content/uploads/2018/12/90-Days-of-Intention-Mastermind-Groups.pdfI met a couple of people at a local real estate event and started an intentional mastermind last month.

I am still extremely motivated with my intentions to become an integral part of the real estate industry.

However, the affordability of homes is so much better as opposed to Oakland or Macomb County.I am looking to make my first deal with the intent of renting it in the very near timeframe and I don’t want to exclude an entire area based on a few opinions.

It definitely depends on your intentions and your own personal 'why' factor!

I am looking to make my first investment soon as my company would pay my closing costs (recently relocated me here, part of the relocation package they offer) which will reduce my initial investment.What I think suits me for my first investment, is a single family home in the 80-100s range which I intent to rent out.

@Ibn Abney Like others have mentioned, you could potentially take the promotion for a few years with the intent of using the increased income to accelerate your RE growth and subsequent retirement.