Stay-at-home mom from Aberdeen, SD

5 Replies

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.


@Ratna Gundewar welcome to BP and glad you made your first post! I am kind of a local investor, at least not too far away! I am honestly not familiar with the Aberdeen market, but smaller cities can be tougher to BRRRR in. It can be done, but you will need to make your money on your purchase, which means getting a really good deal. I don't see an issue with starting one project close to home. It is a great way to get experience. Good luck!

I think you can learn so much from buying a local deal if the numbers make sense. If it is like our market then it is a great place to get into rentals. 

One comment I will make is that when I started out I spend lots of time deciding what my 5th and 10th deal would look like. But that came later and changed as I grew and found out what I like and was good at. So don't worry about having your whole plan mapped out before you get started. 

Best of luck!

Originally posted by @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.

 Welcome aboard Ratna.

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