In 1987 , at the young age of 23 , I had my first glimpse of a future as a real estate investor . It all started with my love of visiting open houses , which led me to obtain my real estate license to learn the industry . At the time , I lived in Hawaii where I found inspiration from the successful women real estate agents around me .
After a move to the Midwest in the early 1990s , I quickly learned that the commissions and energy around real estate weren ’ t as inspiring . For me , this led to the transition from real estate agent to real estate investor . Over the next few years , I launched into real estate investing while managing a young family and career . After a divorce , I realized I needed to leave my corporate job and fully dedicate myself to establishing a reliable income and building longterm wealth through real estate investment .
Along the way , I made mistakes , learned many valuable lessons and ultimately built a lasting and successful real estate investing business . Today , I use that knowledge and experience to help other women launch and grow their real estate investment businesses at Real Estate Investing Women , a resource for training , live events and networking in a community of likeminded women .
mistakes and build wealth with fewer risks . One of the big lessons I like to share with new female investors is to trust your instincts . The ability to tap into our gut feelings to make decisions is a benefit that makes women a natural fit for real estate investing .
Another piece of advice is to use money from your real estate investments to buy more real estate , instead of putting all your personal money into investments . The challenge is finding the money to start out . The mistake I made was purchasing too many buy and hold properties too quickly . This led to unnecessary risk and eventual burnout . I now tell new investors to start with one buy and hold property and grow slowly .
However , unlike my path into real estate investing where I dabbled in fix and flip , moved on to buy and hold and then finally figured out how to work wholesale deals , I suggest new investors start with wholesale deals . Wholesale isn ’ t easy and requires work . Yet , wholesale real estate investing has lower risks than other investment strategies .
With wholesale investing , you learn while making money . In fact , wholesale investment is a great way to delve into the details of real estate investing without taking possession of properties . Set aside the money you make money through wholesaling to build the financial foundation of your real estate investment business .
Lessons for New Real Estate Investors
Looking back at how I built my real estate investing business , I now have the wisdom to see the ways I would change my strategies to avoid
Photo by Image by Jerry Kimbrell from Pixabay
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