I am surprised to see the lack of women in the field of Real Estate Investing. If you walk into any investment club. It is not hard to notice that the room is predominately men.
Besides Wayne, I also have the honor to help Elva this year to get her 1st rental property under her belt. Some people I once knew back in the Rich Club took more than a year to research in real estate, take all the courses, but never started. Not to mention that those period were one of the best time in the history to acquire Investment Real Estate
When I first met to Elva, she knew nothing about Real Estate. What has Elva done differently compare to other folks to acquire her 1st rental in a competitiveÂ market, in such a shortÂ amount of time exposing to the field?
Working with Elva, I realized that women could make great Real Estate Investors! They edge men over a few points. For Example:
1. Attention to details:
The devil is in the details as we know. Guys like me usually suck when it comes to detail while gals usually pay great attention. I can’t tell you how many time I got screwed over because I overlooked a house during theÂ inspection, or doesn’t get down to the nut and bolts with managers and contractors.
This is particularly useful when you go through a final walkthrough on a project. I usually bring wifey when I go see the house and after the contract finish the jobs for this very reason.
2. Ask for help
MenÂ tend to have moreÂ problem when it comes asking for help than women.It hurts their ego or something, or they think DIY is cooler. That is the mindset of the S in Robert’s quadrant that you need to move away from.Real estate is a people business with lots of moving parts. If you can market and find your own deal, fix it up, then lease it or sell it yourself – All power to you! You will make good money.
However, if you want to make great money and move to the B quadrant, it’s time to leverage out and learn to build a system instead of DIY. The easiest way is asking for help! and never forget to say thank you. As long as you are serious and demonstrate your highest level of commitment, you will get the help you need.
Always seeks for help, always say thank you, and always helping other people. that’s Elva advice to new real estate investors
This is where most men are usually not good at.Â If you think this does not really matter,Â try not to open the car door your girl or somehow manage to get only one pair of chopsticks for yourself at dinner time and see what will happen. (I am guilty of both)
These soft skills come in handy when dealing with people directly. It might as well set you apart from other investors. For example, I consider myself a good boss by always broughtÂ lunch for my contractors whenever I come visit the job site. Elva took it a step further by order pizza directly for lunch when the contractor solved an issue that saved her money. By always say thank you and show appreciation for the people that works for you and with you, it created a strong dynamic and bond the team together. Stuff will get done lot faster and smootherÂ than usual.
Relationship is bonded by either fear or trust. You want to be on the trust side.
That is it guys and gals. Elva was able to user her unfair advantage to score a deal before the year is over. She incorporatedÂ Wholesale, HELOC and BRRR into her 1st deal, which is somewhat considered an advance strategy. Everybody has a story on their 1st deal and how they get started in real estate. This is Elva and her story.
What would be your story?
Turn of the TV – Go out and make history!