omen are the main decision makers when buying a home,
passive income and wealth. Some may lack confidence in investing or lack industry knowledge because they feel it’s still very much a boy’s club or don’t know any other women in the investing space. Fear of being talked down to, not knowing anything about construction, feeling they have nothing to contribute, or lack of funds may stop others.
Most important, don’t take anyone’s word for something. Investigate the issues and possibilities so you can make smart decisions and learn potential pitfalls. You will learn more by doing and by shadowing seasoned investors than just reading a book or listening to a podcast (although those also help). A woman can negotiate and close deals just as well as a man can, even intricate deals in which the stakes are high. Again, it’s important to learn the industry language, find a mentor, plug into a women’s investing group, and make connections through networking. Find a tribe of women who will support you, who will go with you on contractor appointments, or to will help you check out a potential renovation project. These activities will create a synergistic energy and build the collaboration necessary to take charge in the field of real estate. At the end of the day, we all have the similar goals: time freedom, financial freedom, building wealth, and leaving a legacy. So, grab your chair, pull up to the table, and let’s go! •
W
so one might assume there would be more women in the real estate investing space. That’s not the case, however. Few women actually invest in real estate. Most women keep their money in a savings or checking account or fund a retirement account through their employers rather than invest in real estate as an additional way to build
TIME FOR A SEAT AT THE TABLE
It’s time to change this mindset and for women to get a seat at the table—even they must bring their own chair! Women are already key players in the real estate investing space, so why not take the leap? Now more than ever, women also have a heavy hand in all facets of real estate. They are designers, archi- tects, construction professionals, lenders, closing attorneys, and title agents just to list a few. When you look at the major real estate players out there with massive followings, yes, they are mostly men. However, there are also a few well-known women who have built massive real estate empires (e.g., Barbara Corcoran and Ellen DeGeneres). BECOMING INVESTOR SAVVY But who is out there teaching them and inspiring women to build wealth through real estate investing or to plan for retirement with passive income? Where does one start? Here are some insights for women considering entering the real estate investment space. An understanding of real estate investing, construction, and financing terms will go a long way toward demonstrating your industry knowl- edge and boosting your confidence.
Lorraine Beato is the CEO of Atlanta’s Residences powered by eXp Realty. She is the author of “Flip the Switch,” a practical guide for real estate agents
and professionals ready to take their experience in real estate to the next level by investing in real estate and real estate-related assets in order to build wealth and secure their retirement. Beato has been a full-time, successful real estate agent and investor for more than 25 years and specializes in thinking outside the box to get clients to the closing table fast. Combined with her personal experience in MBS trading with Merrill Lynch and building her own retirement portfolio using creative strategies to acquire properties and improve their cashflow, Beato’s ability to negotiate and navigate her clients’ way to winning investments has made her a favorite with investors nationwide who trust her to acquire, improve, list, and sell their properties when they are not able to personally manage projects in the Atlanta area.
thinkrealty . com | 67
Made with FlippingBook Online newsletter