Single. Woman. Investor. Newbie

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Single. Woman. Investor. Newbie

Tracey Pera
Yucaipa, CA · Member since 2016 · 47 posts · 18 votes

Hello, I am going into Real Estate Investing as a single. I plan on staying single, but sure need a few female voices to help me 'get a plan'/ check list. I live in CA, but hope to invest where I can, out of state is probable. I have HAD my Real Estate Licence, but let it drop. 

I am organized, have integrity, am friendly and do not put up with drama in my life. I have raised five children alone, so when you see the bumper sticker, "You can't scare me, I have had children" ... that's me. 

I hope to learn to teach... women especially. Single moms especially, and Veterans for sure. 

My question: just looking for a voice, 'crying in the wilderness' speaking Truth. 

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Brie SchmidtBusiness Member
Moderator
Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
8y

I was single, but remarried a few months ago.  I own 31 properties / 90 units and bought my ex husband out of them because he had no involvement with the business.  

There are plenty of successful investors, men, women, single, married.  The one thing we have in common is passion and determination.  

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  • Nicole A.Pro Member
    Rental Property Investor · Baltimore County Maryland and Tampa Florida · Member since 2013 · 2k+ posts · 2k+ votes
    8y

    Welcome! Female investor checking in here. =P I'm not single though nor do I have children. 
    It's all about your attitude and the knowledge to back you up. A good, positive, strong attitude that doesn't cross the line of too pushy or "everyone's out to get me". Knowledge to stand firm when others push you and your boundaries.

    As a woman, I have been fortunate to not feel that men judged me just for my gender. Perhaps they do more than I think and I just either don't see it or don't care. My non-REI career involves me working with lots of military, so I tend to have the same rough/unprofessional sense of humor. There have been a few small instances, though, such as when an older gentleman suggested that without being married to my business partner, he couldn't sell us insurance on my LLC properties. It made no sense. I simply moved on to someone that didn't talk nonsense.

    Also, as a woman, I have had female tenants try to play to my emotional side when it came to late rent. I remember one specifically saying the words "woman to woman" to me. I'm pretty sure my eyes glazed over at that point because your "woman to woman" crap doesn't work on me and has nothing to do with late rent. =P

    So, it's not all men! Women will try to talk to you to their advantage sometimes thinking you'll side with them simply because you share the same reproductive organs. 

    Keep learning, and get out there! We can't wait to hear about your next RE deal.

    1Reply
  • Carol Desantis
    Investor · Franklin, NJ · Member since 2017 · 27 posts · 26 votes
    8y

    Hi @Tracey Pera 

    As for a checklist,

    • Find some reliable contractors

    • Look to build a network of local realtors

    • Look to make some connections with people @ your local banks/lending institutions

    • Meeting wholesalers who deal in your area (be wary on this one)

    • Attending meetups to get info/insight into whats going on in the area you're looking to invest.

    2Reply
  • Jody SchnurrenbergerPro Member
    Investor · Asheville, NC · Member since 2017 · 506 posts · 404 votes
    8y

    @Carol Desantis, what do you mean to be wary of wholesalers.  I've never used one, but was thinking of doing so in the future.  Please educate me.  :-)

    0Reply
  • Llewelyn A.
    Investor / Broker · Brooklyn, NY · Member since 2016 · 665 posts · 1k+ votes
    8y

    @Jennifer S.

    @Carol Zeroual

    Hi Jennifer, Carol, I can certainly make something work out, but I am unsure how to address this on BP.

    Probably best to just PM me and we can discuss starting a possible online education program.

    I'm definitely a proponent of helping those that are not on a level playing field. In my younger years, it was difficult to see the systematic subtleties that overall lead to discrimination.

    Now that I have quite a bit of experience and have overcome quite a bit , there are even more very subtle gestures or reactions that I may find out later.

    ANYWAY..... I am definitely in the category that women can make the world better if they grasp the reins of power!

    3Reply
  • Liz C.
    Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
    8y
    Women , investor here. Never feel usual about being women on real estate here, but after hearing few times podcast . It give me hummm, women as real estate investor are rare? Never though it this way. I am very proud of your girls! Might be should form a Group called women investors and have monthly online meeting . Is there such thing yet?
    3Reply
  • Lisa V.
    Golden, CO · Member since 2017 · 65 posts · 35 votes
    8y

    I think a group for women investors sounds great, @Liz C.! Also @Llewelyn A. possible online program. I will PM you both.

    1Reply
  • Tracey Pera
    OP
    Yucaipa, CA · Member since 2016 · 47 posts · 18 votes
    8y

    @Llewelyn A. I am interested in a program... depending on where you go with it. I am working on C/F first, so then I can buy a large rental/ apartment building with my experience. I loved the story about the Brooklyn apartments... thats my dream.. Start small only if needed. I am not afraid to go big, just need a background to know how to crunch my numbers. 

    1Reply
  • Rita Medeiros
    Rental Property Investor · Pompano beach, FL · Member since 2017 · 478 posts · 194 votes
    8y

    Welcome fellow female investors! I am single & began investing 8 months ago & have just closed on my 14th SFH. I am passionate about real estate & am working hard on educating myself.

    4Reply
  • Account Closed
    Downers Grove, IL · Member since 2017 · 366 posts · 165 votes
    8y

    As a proud father of a successful daughter, will chime in here. People underestimate my daughter because she is young and female, I almost feel sorry for men who negotiate with her, they never see it coming when she out maneuvers them. 

    4Reply
  • Ann Bellamy
    Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes
    8y

    I'm with @Nicole A. on this one.  Throughout my work life, it has mostly never occurred to me that there was something different about being a woman in business.  I actually think if you approach your business this way, that you are the limiting factor, not the men around you.

    Are there plenty of people (both men and women) who might think you are somehow less competent?  Sure.  Especially contractors.  But like Nicole, when you run into this, simply "shuffle up and deal around them".  (A casino reference)  Go and find the person, whether male or female, who can do what you need done.

    I also think that women's investing groups are also self limiting. Why reduce your networking efforts to the few women in REI?

    I'm a buy and hold investor and hard money lender.  If you want a male dominated industry, hard money lending is it.  But that didn't occur to me when I started doing it.   I've also been single through all of my investing career.  My husband, when I had one, would have been extremely limiting.  Bad choice on my part.  

    So my advice is to stop thinking of yourself as a female investor, or a single investor.  Think of yourself as an investor.  

    8Reply
  • Karen O.
    NYC, NY · Member since 2016 · 619 posts · 456 votes
    8y
    Originally posted by @Jennifer S.:

    I think I just accidentally hit the up vote on here and can't seem to undo on my phone. Hope you all don't think I'm a narcissist!! 

    You hit it again to undo it.

    1Reply
  • Karen O.
    NYC, NY · Member since 2016 · 619 posts · 456 votes
    8y

    I agree with @Nicole A. and @Ann Bellamy.

    #1 Your marital status is irrelevant.  

    #2 Your gender is irrelevant.  

    #3 You are or want to be an investor.  

    You have to do the reading, learning, make the mistakes and deal with the unknowns.  

    You have to decide what area of REI is for you. Passive (crowdfunding, lending), active (buy and hold, rentals) or very active (fix and flip). You'll win some and lose some. You'll find difficult people along the way. Get multiple quotes until you know what things should cost. Listen to your gut when it tells you something/someone seems off or isn't right. When it's not right, walk away. Find another resource. Know that you're going to get a few scars and break a few nails for those hard won lessons (I broke 4 nails yesterday - it was a good day).

    And men are essential to a REI business. I like to think I could get anything done if I had all the time in the world. But truth is, they do more of the heavy lifting necessary with REI from my experience. And they can be fun to work with. There's just nothing like successfully completing a task whether you provided a bit of sweat or just wrote the check. So, making and having good men standing beside you is very important and will be a component of your success.

    Best of luck on your journey.     

    3Reply
  • Jennifer S.
    Investor · London · Member since 2017 · 160 posts · 82 votes
    8y
    Originally posted by @Llewelyn A.:

    @Jennifer S.

    @Carol Zeroual

    Hi Jennifer, Carol, I can certainly make something work out, but I am unsure how to address this on BP.

    Probably best to just PM me and we can discuss starting a possible online education program.

    I'm definitely a proponent of helping those that are not on a level playing field. In my younger years, it was difficult to see the systematic subtleties that overall lead to discrimination.

    Now that I have quite a bit of experience and have overcome quite a bit , there are even more very subtle gestures or reactions that I may find out later.

    ANYWAY..... I am definitely in the category that women can make the world better if they grasp the reins of power!

    Sure, whatever is convenient, there's so much great education on here and your posts on their own are a great starting point. 

    0Reply
  • Jennifer S.
    Investor · London · Member since 2017 · 160 posts · 82 votes
    8y
    Originally posted by @Karen O.:
    Originally posted by @Jennifer S.:

    I think I just accidentally hit the up vote on here and can't seem to undo on my phone. Hope you all don't think I'm a narcissist!! 

    You hit it again to undo it.

    Thanks, it doesn't work on my phone to do that. Weird!... But no biggie

    0Reply
  • Michaela G.
    Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
    8y

    Single woman investor here. 

    I've had various niches over the year, but only do things that I actually enjoy. The great thing about REI is that there are so many potential ways to profit, that you can look at your strengths and weaknesses and pick the area that fits best for you.

    Here in the South, there's still a lot of machismo and men, who underestimate me as a woman. I'll then move on to someone else. It can be positive, because a seller might also be more open to letting their guard down, because they underestimate you. A woman seller might feel more comfortable with you. Overall, there are advantages and disadvantages that come all out in the wash, if you're aware of them and work with them, instead of against them. 

    @Llewelyn A. , just to give you my side, please don't take it personally: I would have walked out of that class in the first day. Not because there's anything wrong with it - sounds like an amazing class - but because I'm a 'big picture person' and just hate all of the little details and numbers and formulas. And being a big picture person has made me successful as an REI, so I'm not interested in trying to force something down my throat that would make me start hating it. I don't feel that all of those formulas are necessary to become successful. I'm fine with a rough overview of ARV, repair cost etc.

    Just my opinion .

    1Reply
  • Llewelyn A.
    Investor / Broker · Brooklyn, NY · Member since 2016 · 665 posts · 1k+ votes
    8y

    @Michaela G.

    Over the years I find that some details are not necessary to learn in order to do something. For instance, why do you need to know how the engine works in order to drive a car? The reality is you don't. You just need to know how to to use the controls.

    BUT, that being said, for most people, and you may not fall into that category, will increase their chance of success by understanding some of the details to a degree which will give them a vision of the future of that Investment.

    Another reason why I teach the details is that there are a large number of capable Investors who are going it alone. They would definitely benefit from attracting someone more successful, experienced and knowledgeable.

    Unfortunately, to attract someone like that, if you do not already have a successful business or past results, the only way you are going to do that is by demonstrating your knowledge.

    A 10 year pro-forma Business Plan does exactly that. It increases your success by:

    1) Giving you knowledge beyond the basics and

    2) Demonstrates to others that you are going the extra mile to attract them as partners or mentors.

    I can't tell you how many people just send me a listing and ask me if I would buy this property, partner with them or guide them.

    Doing absolutely nothing but forwarding me an add and asking me to perform all the evaluation will just get a response from me that tells you I'm really, really busy at the moment.

    Sending me a 10 year pro-forma business plan with all the assumptions in it will make me say to myself, wow..... this person may not have any real experience, but from the effort this person put in, I'm going to help!

    I suspect all of the successful and experienced potential Mentors would love to have someone like that.

    In your case, you are experienced and knowledgeable, already successful. While you can probably benefit from knowing the details of a 10 year pro-forma business plan, your network is in place and ready to go.

    What I'm doing is giving a chance for those who need something extra to attract the right person(s) in their network.

    1Reply
  • Carol Zeroual
    Boxborough, MA · Member since 2014 · 230 posts · 62 votes
    8y

    Go Rita, Go!!! :)

    1Reply
  • Lesley Ray
    Architect · San Francisco, CA · Member since 2017 · 89 posts · 41 votes
    8y

    New single, female investor here! I didn't think gender was still relevant, but a recent experience with an older male lender where he referred to me as a "sweet girl" made me re-think this outlook. 

    @Tracey Pera (or anyone else for that matter), any tips you've picked up so far that you'd care to share? 

    0Reply
  • Tracey Pera
    OP
    Yucaipa, CA · Member since 2016 · 47 posts · 18 votes
    8y

    My health took a track down a 'wiley path' so I have not been on BP or doing anything active... as far as 'respect' of women. Some men have it, some don't its part of their culture, how they were raised, and experience with women. We can show them care and professionalism being strong and never offended!

    0Reply
  • Tracey Pera
    OP
    Yucaipa, CA · Member since 2016 · 47 posts · 18 votes
    8y

    My health took a track down a 'wiley path' so I have not been on BP or doing anything active... as far as 'respect' of women. Some men have it, some don't its part of their culture, how they were raised, and experience with women. We can show them care and professionalism being strong and never offended!

    0Reply
  • Justine Scheuher
    Investor · Louisville, KY · Member since 2017 · 102 posts · 80 votes
    6y

    Hey Ladies! I know this is an old thread BUT if yall are still active and interested... I am putting together a female mastermind group. 


    https://www.biggerpockets.com/forums/521/topics/798954-mastermind-group-starting-ladies-lets-do-this?page=1#p4692343

    or just fill out this questionnaire! https://forms.gle/rVAXHrdadLTD...

    0Reply
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