Mom looking for passive income / opportunity to build generational wealth w/ $200k

[Sarah Miner]

• Hello! I just finished reading How to Invest in Real Estate and am excited to start my journey investing. I'm here because I have been grinding in NYC for the past 15 years and, as a mom of 2, I'm looking for more flexibility through sustainable, passive income. I also want to create some long term generation wealth for my kids. I am currently based in Brooklyn, NY but my family and I are moving up to Fairfield, CT in June. My gut is to focus on that market because I have a little bit of a team already built there (a trusted broker, a contractor who will do the work at cost, an interior designer), but maybe I am limiting myself to an expensive market by only looking there? I just feel like it's the most comfortable way to get my feet wet. I have about $200k to invest in my first property. I am leaning towards buying a new single or multifamily home and leveraging BRRR, but another option I have is to house hack. The home we are buying has 1 acre of buildable property where we could build a barn and rent it out. I am most overwhelmed by analyzing a deal and am very open to mentorship if anyone out there feels like helping a young mom get started out! I have a strong sales & marketing background in tech and would be more than happy to help you in any way I can as well. Thanks for reading!