Although the real estate investing industry has been a male-dominated one in the past, more and more women are staking their claim as investors. Not only are you qualified to be a successful real estate investor as a woman, but you also have the ability to outperform your male counterparts. Here are some strategies to hit the ground running as a female real estate investor and show the boys club that you are here to stay.
Start With A Strong Plan
Whether you will be investing in real estate part-time or full-time it is imperative that you look at your investment portfolio as a business and treat it like one. The first step in starting any successful business is putting together your business plan. Writing a business plan as a real estate investor will require you to consider your overall goal, as well as, the benchmarks you will need to reach in order to achieve it. For example, if you plan to use your investment portfolio to finance your retirement, you need to establish how much money you will need to earn for that fund. From there, you can make determinations on your style of investing, financing, marketing, and niche. Although it can feel tedious, the exercise of putting these goals to paper is one of the most valuable preparations you can make.
Adopt A Positive Mindset
Although it is perfectly normal to experience some level of anxiety or hesitation as a new real estate investor, it is important that you make every effort possible to adopt a positive mindset. Recognize yourself as a strong, independent, brave, and capable businesswoman that is ready to take on the world. Don’t be afraid to embrace some of your nervous energy and channel it to fuel your motivation as well. If believing in yourself is easier said than done, try a few of these positive mindset techniques to build your confidence:
Practice humor in difficult situations
Start each day with an affirmation
Look at failures as lessons that lead to profits
Focus on the good things ( no matter how big or small)
Surround yourself with positive friends and mentors
Network With Other Female Real Estate Pros
The best way to empower yourself as a female real estate investor is to connect with other women in the industry. Having the ability to relate to other women with similar goals and challenges is an excellent way to grow and see things from fresh perspectives. When it comes to the real estate industry or any industry for that matter, we women need to join forces and build each other up and it is your responsibility to be a part of that positive force. You may have a lot to learn. However, finding a network of support will save tons of time, money, and headaches by identifying new referral partners and vendors that will be loyal to your cause.
The fastest way for you to lose your confidence and your shirt as a real estate investor is to fail to become and stay educated. You need to constantly strive to learn all there is to know about the ins and outs of operating a real estate investment business in your chosen niche. Whether you are investing part-time or full-time you are likely to be short on time which is why you should be using business audiobooks and podcasts while completing everyday tasks like showering or driving.
Invest In Strategic Partners
It’s impossible to know everything there is to know about real estate investing. Especially when you are new to the game. Therefore, you should make finding a real estate agent that specializes in investment properties one of your first priorities. Strategic partners like this will not only help to show you the ropes, but they will protect your best interests in the meantime.
Need Help Maximizing Your Des Moines Real Estate Portfolio?
If you are ready to jump headfirst into the pool of Des Moines real estate investors, I would love to be your go to resource. Please give me a call today and we can sit down to map out a specialized strategy that makes the most sense for your strengths, challenges, and goals as Des Moines‘s newest femme fatale real estate investor.
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Liz and Chase