Each segment of our economy has natural investors and entrepreneurs. While women now exist in almost every segment of our economy, real estate investment has been a natural fit. James W. Vermillion, III notes in his article Successful Women Real Estate Investors: 3 on 3 Interview Series that women have certain consistent natural abilities that make them successful in real estate investment because they are naturally very good at building relationships and finding solutions to problems. Both attributes are essential to getting and closing real estate deals and establishing trust with all parties. Successful real estate investor, Karen Margrave feels that women have better functional design instincts.
Women are utilizing different investment strategies. Some are using lease options to help lock in a property and build equity; others are targeting foreclosures and pre-foreclosures. Triste Winnie wrote that women are particularly good at pre-foreclosures because their nurturing nature and listening skills allow homeowners to work through the process of choosing to sell for less money than they paid for the home. However, some women investors have combined their love of community with investing to revitalize areas that have suffered most in the foreclosure era. This action combines philanthropy with profit as it helps affordability of homes, rehabilitates neighborhoods and some investors even share equity with purchasers to facilitate the sale. REALTORS® and their clients have been influenced by rehabilitation incentives combined with the satisfaction of knowing that your community is helped through the purchase. Women are both empathetic and compassionate so, being able to impact the local economy through their own purchase is an important comparative value in the decision-making process. Of course, always check with a tax advisor when accepting any purchase incentive as it may affect your tax liability for the purchase year.
In Women Investing in Real Estate, Triste asked several successful women real estate investors if there were gender disadvantages in real estate investments and discovered that the only real disadvantages were internal through a lack of confidence that affected the exercise of power and authority needed in real estate investment. Basic repair and minor rehabilitation techniques can be learned at the local hardware, home improvement store or You Tube. There are negotiation classes, books and videos, but practice is the key to success. Some precautions in previewing or visiting vacant property should be exercised by both genders.
Professional REALTORS® can help the beginning investor every step of the way. The Osceola County Association of REALTORS® website, www.OsceolaREALTORS.org, is searchable. Ask about experience in pre-foreclosures, foreclosures, rehabilitation properties, and investment purchase incentives. Find a REALTOR® with the patience and listening skills to help you advance your skills and build your confidence.