How could investing in real estate possibly be a profitable venture anymore? Well for one thing, there will always be a need for housing; it’s a given. Even when the housing and mortgage crisis of 2007-2010 was responsible for dropping prices to record lows in a matter of months, people still had to have a place to hang their hat.
Homeownership has always been a source of pride and accomplishment, and it is human nature to point your weather vane toward a familiar place of comfort. When people lost their homes in the recession, many lost hope in any kind of a secure future. They were faced with an upsurge of overpriced new apartment construction and an overabundance of properties for sale or foreclosed upon that they had no way of purchasing. It seemed an impossible task to turn things around – would they ever have a place to call their own again?
The Meltdown of the Real Estate Market
As it turned out, homeowners weren’t the only ones affected by the housing crisis. When the nation-wide real estate market tanked, it also left old-school investors holding the bag; literally stuck with ‘income’ properties they had intended to sell for a profit which now were worth far less than their mortgage balances. Sadly, lending institutions rejected pleas for re-financing, leaving owner-occupants and investors no choice but to walk away from their investments, with damaged credit ratings in tow.
Bankers were left with worthless notes and vacated homes (often in disrepair) – and the plummeting market wouldn’t bear anything close to the value on which the loans were based, much less their ledger balances. Some homes ended up sitting empty for years due to lenders’ unwillingness to commit to repairs or sales commissions – all while home prices continued to nosedive as homes were abandoned and multiple ‘For Sale’ signs cropped up in nearly every neighborhood.
The Reinvention of Real Estate Investing
What came next was a new breed of investors, with a fierce grip on survival – who refused to give up on their careers. With instinct and innovation they paved their way through making the best of a dire situation. They fought relentlessly to find win-win solutions for soon-to-be-displaced residents, growing lists of real estate owned (REO) properties and overburdened court trustees.
While a high percentage of real estate agents chose to move into ‘stable’ corporate jobs, the numbers of new women entering the real estate industry increased. It was a good ‘second income’ for the household and worked well with flexible schedules – perfect for moms and their watchful teens aspiring to join the family business.
Real estate has a lot of moving parts – and multitasking is something in which the ladies are especially well versed. There’s actually a real biological basis to why females are better able to combine logic and intuition than men. According to a study by the Proceedings of the National Academy of Science women excel at ‘connecting the dots’ because we’re capable of easily zigzagging between the left and right hemispheres of our brain!
Is There Room For New Investors?
Sure, there’s some competition out there – it’s hard not to notice the growing number of ‘we buy houses for cash’ signs scattered throughout our cities. But that’s no reason to throw in the towel. In fact, the niche of real estate investing has relatively few truly experienced, trustworthy and accessible entrepreneurs within easy reach.
When educated and confident REI experts are involved in a property transaction, it shows. And, their reputation gets around pretty quickly. Why? Because the selling of distressed homes by desperate owners unfortunately attracts a fair amount of less-than-ethical and grossly unqualified investors whose cash deals go sour; leaving stressed out homeowners in worse condition for the experience.
As a result, the REI niche market has more than enough room for credible, honest and hardworking newcomers – with a passion for creativity and a penchant for finding and keeping their edge!
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