We talk a lot about how men dominate real estate investing. While that is true, it is also true that many women have paved a path to wealth and success through real estate investing. As real estate investors, we can learn from these top-notch women’s achievements.
At Real Estate Investing Women (REIW), this is one reason we created a platform for women investors to connect. We know that the path to real estate investing success takes different turns for women. We want to help provide a roadmap for your journey to wealth and financial freedom through real estate investing.
We took the best advice from top female real estate professionals, like Dottie Herman, Barbara Corcoran and our own, Laura Alamery. They all offer many of the same insights based on their knowledge and experience. The one message that rings true across all successful women investors is to not give up. There will be obstacles, but to be one of the best requires tenacity.
Real Estate is a Relationship Business
Most women thrive in relationship building. This makes women perfect for real estate investing. Even if relationship building doesn’t come naturally for you, it’s a skill you can learn with practice.
The key is to get to know people as individuals. Use these connections to build trust that closes deals. Also, relationships help develop a deep network of industry professionals to move your business forward. Remember, the goal isn’t to use people but to genuinely connect for the mutual benefit of both people in the relationship.
Look for the Potential in the People Around You
Real estate investing is a team sport. You cannot grow a successful business in isolation. Look at the people around you, whether in your network, workplace or home, and see the unique potential of everyone. Leverage the strengths of those around you to grow your business.
The real estate investing business has plenty of opportunities. Don’t fear scarcity. Instead, help lift others up as you grow. Also, look for ways to delegate tasks to people with the skill set to complete the task more efficiently. Then, see how you can use your strengths to help them in return.
Don’t Let Obstacles Stop You
You will face challenges and setbacks as you grow your real estate investing business, or any business for that matter. Obstacles are part of the process. If you want success, you must learn to overcome challenges and failures.
In fact, see failures as learning opportunities. One benefit of real estate investing support networks, like REIW, is sharing both successes and failures so that others can benefit. The key is to not give up!
Building a business takes time and effort. Set aside time to work on your real estate investing business. Even if you have a family and full-time job, you must consistently work toward your investing goals if you want to grow.
Schedule time into your week to find properties, build your network and research financing options. Also, take time to learn about the industry. We offer free resources like eBooks, videos, podcasts and articles. Plus, when you’re ready to take your business to the next level, we offer coaching and mentoring.
Create a Business Plan
We know the thought of creating a written business plan seems daunting, but it is essential to focus your effort and understand your strategy. A business plan lays out what you are trying to accomplish and how you will do it.
Take the time to think through the process to build and grow your business. A good business plan covers marketing, financing and the timeline for growth. In the long run, a business plan saves you time and effort.
Embrace Changes in the Industry
Technology is changing the real estate industry. If you want to stay relevant and grow, you must embrace these changes. This is not a time to be stubborn. Instead, look at how technology can benefit your business.
Also, stay on top of market trends. The real estate market is volatile, but knowledge is power. If you understand the trends, you can use that information to your advantage. While real estate fluctuates, it continues to stand the test of time as a solid investment strategy.
Let Your Story Motivate You
We all have a story. Use your hardships to motivate you. Those things in our life that we’ve had to overcome helps us connect with others and have empathy. Our personal stories make us human and drive us forward.
Our stories, both the beautiful and the tragic, give us purpose. These are the points that create our passion. They also build that inner hunger to succeed. Don’t look at your story as a stumbling block to success. Instead, use it to inspire you to move forward.
Learn from the Success of Other Women
At REIW, we’ve seen firsthand the successfully stories of many women real estate investors. We created REIW as a platform to learn from each other and grow together. Real estate investing offers a chance to develop independence and confidence.
Real estate investing takes work, but it is worth it! You do not need family wealth or an Ivy League degree to achieve great things through real estate. You simply need knowledge of the industry and the will to work hard.
At REIW, we host live events that bring female real estate investors together. Our goal is to build a community of likeminded women. Join our network of real estate investing women. Whether you are just starting out or want to continue to grow your business, we have a place at the table for you. Contact us today to start on your path to real estate investing success!