I'm happy to have another issue of “Successful Women In Real Estate Investing” for you today. The spotlight is on Tracy Royce who is an Arizona real estate investor and and both a short sale and pre-foreclosure expert. One thing that is really unique about Tracy is that she worked for other investors before opening her own business. She really took advantage of the “earn while you learn” model. Even though there aren't nearly as many short sales as before, she has continued to work in the pre-foreclosure niche.
You might remember that I recently did a podcast with Tracy. If you missed that episode you can listen to that By Clicking Here….
I love the answers that Tracy had for my 4 questions. Check those out below.
The 4 Questions
What made you choose the niche you invest in today?
I started a small business working for real estate investors, who happened to all focus on the pre-foreclosure market. It’s a profitable, challenging, and rewarding niche that I am proud to be a part of.
Did you try other investing strategies before settling on the main strategy you focus on today?
I’ve been through dozens of real estate trainings from multi-family investing to raising private capital, but at the end of the day my bread and butter is from residential pre-foreclosures. I’ve found there’s so many ways to slice the pie so you really have to remain focused on the revenue model that is producing before you diversify into other niches. With my background, I’ve never really deviated away from preforeclosures. Plus with how inundated the Phoenix-metro market was with them for so long, I didn’t even have time to think about doing anything else!
What is the best advice you could give someone “brand spanking new”; someone just getting started?
There’s never going to be a perfect time, you just have to start somewhere. If there’s a way you can find to “earn while you learn,” like working for an investor, title company, anything, it’s a good way to gain exposure, network, and help you pay for your real estate education. Also, just keep going. If this is your dream, than just take small, consistent actions. It adds up!
If you had to start over today, what would you do differently?
Nothing, it’s all added up and I have directed my career with purpose.
Connect with Tracy
Tracy (G+) is an Arizona Short Sale Realtor, Investor, Rehabber, and Foreclosure Expert. She also is an avid blogger, vlogger, contributor to Real Estate Magazines, and hosts Real Estate Rescue, a show dedicated to the distressed property market.
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