Women Investing in Real Estate

Q. I knew you through your meet-up group of “Women investing in Real Estate” , why did you start the group and how successful the group is in encouraging female investors entering this arena?

I was inspired to start the group after I attended a Rich Women seminar in Scottsdale, Arizona. The event was hosted by Kim Kiyosaki (wife of Robert Kiyosaki, Rich Dad Poor Dad Author) and was extremely enlightening and motivating.  The main concept behind the seminar was to bring women together to encourage one another to be the best they can be through financial education.  It was not about just being rich financially but also emotionally, spirituality and physically.  When you get a group of women together who are all wanting to better their lives and help one another the sky is the limit.  The intent behind WIRE is to bring women together to share resources and stories (the good and bad), become educated in a non-threatening environment and have fun.  I believe the group has been very successful at encouraging female investors to enter the real estate arena world.  We have had some very exceptional presenters who have positively impacted and inspired the members to step up and take action.How difficult is making investment decisions in real estate and what are the factors to consider when making such decisions? When you have the proper education, team and resources in place making investment decisions does not have to be difficult. The first is always the hardest. I believe the biggest factor that makes it difficult to make investment decisions is fear and not having the right people on your team such as a realtor, mortgage broker, inspector, lawyer, insurance expert, contractor, property manager, accountant, mentor etc.

Q. How difficult is making investment decisions in real estate and what are the factors to consider when making such decisions?

When you have the proper education, team and resources in place making investment decisions does not have to be difficult. The first is always the hardest. I believe the biggest factor that makes it difficult to make investment decisions is fear and not having the right people on your team such as a realtor, mortgage broker, inspector, lawyer, insurance expert, contractor, property manager, accountant, mentor etc.

Q. When it comes to taking risks, there is a common belief that women are more reluctant in taking risks. How risky is the business of real estate investment?

Yes, I do believe that women can be more reluctant when it comes to taking risks (which can be risky). Without a doubt, there can be some risky real estate investments (investments in general) and without the proper education and resources (most importantly, a knowledgeable team) you can make some real bad decisions. This can be avoided by really understanding the fundamentals of the real estate you are considering and becoming an expert or consulting with experts in the specific market/type of real estate you are considering.



Q. What does any woman who plans to enter this field need to know about risk and risk management?

I go back to the importance of proper education, team and resources.  Don’t be afraid to walk away from a deal that does not work for you, there will always be another deal.

Q. What is the most important advice you can give to a woman considering investing in real estate?

Education is key, you don’t need to be an expert, but you need to surround yourself with those who are. I have been a member of the Real Estate Investment Network (REIN) for a number of years and this has been a big turning point for my real estate success. Surround yourself with like-minded people, join a mastermind or real estate group or find a successful real estate coach. Real Estate is not an easy, get rich quick scheme. It will take time, don’t give up. Real Estate can provide a means to an amazing life, don’t wait until you have all your ducks in a row to take that first step, they never will be.  I will end with one of my favourite Oprah Winfrey quotes “I believe that one of the life’s greatest risks is never daring to risk”

 



 

Originally posted 2016-04-25 14:55:50.

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