I have waited a long time to be able to say this, but now I can say without a doubt that the new face of real estate investing is female. I've been in this business since 1998, and I could have never predicted that it would take more than two decades for women to find equality and the same level of success as their male counterparts in this business.
Do I think that men planned it this way? That they intentionally shut women out? No. I really don’t. However, I also don’t think they really took women seriously as real estate investors. The women that did find success at that time were looked at as the exception to the rule. They were outliers. The vast majority of successful women a decade or more ago, were successful in spite of all the roadblocks they encountered.
The “Good Old Boy's Club”.
The bigger problem for a long time was that real estate investing and REIA groups in general had been “the good old boy’s club”; it was just the way it was. This is what I know for sure; when I started in this business the door to the “good old boy’s club” was just cracked when it came to women. We were never really allowed all the way in the room.
I invited someone from my city to be on my podcast a couple of years back. He agreed but immediately said he wasn’t telling any of “his secrets”. (Good old boy's club answer). My answer was to say that there really weren’t any secrets. Most things in real estate are tried and true strategies and tactics that for the most part work year in and year out. Do we make changes and find better ways to do things? Sure we do, but the basics stay the same.
The bigger picture once again as he wasn’t sharing his secrets with his female host or any of the listeners. It was lost on this person that I was giving him an opportunity to be on the same platform that many high achievers had also been on that had shared everything they knew in the spirit of helping others succeed.
Why Did it Take So Long?
Real estate investing has been a “man's world” for a very long time. It was a common perception for both men and women as long as I can remember. If you brought up real estate investing in a group of women who were not in the business, they would almost always view the business in that way; it was a business that men are in. And truthfully, they would have been right. Traditionally there have always been a lot more men than women field of real estate investing.
I will take it one step further to say that successful women in real estate were far and few between for a long time. That’s not the case today. There is a world of opportunity just waiting for women to jump in claiming their share. They can build wealth for themselves and their families. A lot of women are the breadwinners today, and even more, women are looking to provide additional income and resources for their families. They can do this with real estate investing.
Here is Another Thing…
Women are really good at this business. According to Forbes, single women have been buying condos and homes at more than twice the rate of single men and show no signs of slowing down. Single women make up the second-largest segment of home buyers after married couples (in which women tend to be the majority influencer in home buying decisions). This is significant if you are a real estate investor. A single woman may just be your new ideal buyer. What changes will you need to make so that your properties appeal to this type of buyer?
The New Face of Real Estate is Female (Everywhere)
There are a whole lot of successful female investors out there today. That’s a big shift in this previously male-dominated field. Women are no longer sitting on the sidelines. Thanks to their own determination, they are succeeding no matter what their investing strategy happens to be.
I personally think this is the perfect business for women of all ages, and I have some benefits listed below.
Real Estate Investing is a Perfect Fit for Women of All Ages
Whether you are single, a mom with kids at home or an empty nester that is ready to start that next chapter, there is a path for you to succeed (at your own pace). Perhaps you are someone who is retirement age but is not necessarily looking to retire — maybe you’re saying “what now? This is the perfect business. Real estate meets you where you are today and it will grow with you when you’re ready.
Here are Some Key Advantages of this Business
- You can work as much (or as little) as you want.
- By setting up systems, you can step outside the daily grind and delegate some of those routine tasks.
- If you have a Self-Directed Roth IRA, you can use some of those retirement funds to grow your nest egg tax-free through real estate.
- You have the ability to generate significant passive income.
- If virtual investing sounds like something that would be a fit for you, this strategy is one that you can literally do from anywhere with just a computer and internet access.
- House hacking is perfect for single people or young couples that want to get started that don’t have a lot of money.
- Airbnb’s are a strategy for a lot of women that don’t want long term tenants. They are often able to significantly increase their net income with the right Airbnb property.
These are just some of the benefits of building a real estate investing business.
This is the Perfect Business for Moms
Here are 7 advantages of starting a real estate investing business if you have children:
- Moms can work at their own pace while their kids are small. You have the flexibility to set your own hours so you can work around your children’s schedule.
- You no longer need to choose whether to work or attend that special school function.
- Is someone home sick today? No problem; you can work from home.
- If you need to get some marketing done, you can take care of that while the kids are in school or after they’ve gone to bed.
- The income from this business will help you fund their education.
- Once the kids are grown, you can have the extra money to fund your dreams.
- Finally, the income from real estate investing will fund your retirement.
And … you can do all of this on YOUR terms. You can see how flexible this business is.
There is no Downside to Starting Now
Your first inclination might be to wait until the perfect time to get started. (You know that’s what you’re thinking.) Here’s my advice; there is no better time except right now.
Here is the thing you need to remember; this is a business you can start at any age and at any stage of your life. There are no limitations! You’re never too young or too old. You get to make the rules, so you can design the lifestyle and the business that is right for YOU at this time in your life.
Traits for Success (You Already Have Them)
There are really too many of these to list, but here are just a few traits that make this the perfect business for women:
- They are already used to juggling multiple projects.
- They tend to be very organized.
- Women are used to working with schedules and “making things happen” in spite of those schedules and deadlines.
- Working within the confines of budgets is something they do every day which is really helpful for investors and in particular wholesalers.
- Women typically have a great deal of experience when it comes to groups and committees. This makes them awesome networkers, and it tends to make them successful at project management.
By now, I hope I’ve convinced you that the new face of real estate investing is female. So, what’s holding you back? Let me know. And if you’re already doing some investing, it’s time to play a bigger game. Wherever you are, just take the next step.
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