Stay-at-home mom from Aberdeen, SD

[Ratna Gundewar]

Hello everyone!

My name is Ratna and I am new to REI and this community. I heard about BP from one of my friends and from then I have been hooked, binge watched numerous podcasts, read a lot of posts and learned a lot of new terminology and got very inspired by all the success stories.

I am a stay-at-home mom, living in a small town called Aberdeen in South Dakota. My husband is the primary income earner. I worked for 10 years in the IT industry, but then decided to quit my job and stay home when we had kids. Lately, something has changed ( may be just the fact that I am getting older.. ) and I have gotten very interested in REI and so here I am!!

From all my research so far, I have fallen in love with the BRRRR strategy. I am looking to get started on my first project soon, but I am in 2 minds as to where/how to get started; in Aberdeen, SD or long distance BRRRR.

1. 1. Aberdeen, SD real estate market is not the greatest for this strategy. But since I don't have any background in RE or construction, if I buy my first SF house here, I can be onsite as much as I want and learn during the rehab process and get hands on understanding of different aspects like agents, contractors, financing, rehab, refi etc. This will give me more insight when I get into long distance BRRRR. PRO: learning locally CON: may not be able to rent the property, will be on the market for a while before it rents or will have to sell it eventually

1. 2. Just go ahead, pick a place, and get started on long distance BRRRR. PRO: no waste of time, as long distance BRRRR is what I would like to do eventually CON: no experience

This is the dilemma I am in right now, and I seem to incline to the first option. But any inputs that you may have are very much appreciated.

Also looking to connect with local investors.