Newbie from Boise/Post Falls Idaho - What should I do with my $$$

[Sterling Jaquith]

Mom of six in my mid-thirties looking to get into real estate. My husband and I own a fencing company and we're looking to start something on the side and grow that to our fulltime job. We will probably BRRRR single-family and/or multifamily properties.

Currently living in Boise, ID. Want to move to Post Falls/Sandpoint within 1-2 years.

We're about to downsize from a large house to a small house. We will probably net out $100k after putting a 20% down on the new house, which will eventually be a single-family rental. 

If you were starting out with $100k with no experience, where would you start? We are avid readers, eager networkers, and hard workers! Looking for advice, not a mentor. Just a quick "don't look in Boise, it's too hot, try a smaller area" or "read these books!"

[Todd Rasmussen]

@Sterling Jaquith

Mom of six? Start with a nap, you've earned it.

Don't know ID, but you'll want to start with a strong strategy. If you are going to BRRRR you will be putting your credit through the ringer so shoring yourself up for that ahead of time will save you headaches down the road. We shopped lenders for tenths of percents on our first couple and are now feeling the effects of significant hard credit inquiries.

To be able to continue BRRRR through even your conforming loan limits you'll need to be efficient at every step of the way. A turn key rental is a much easier way to learn, but if you are set on being aggressive do lots of research about every step of the process now. I'd look at recent home sales in each area you will consider as well as rental rates. Areas with the most rent per purchase price will most likely be areas that are best for the BRRRR method.