Why Empowered Women Make Great Real Estate Investors

Back when I started investing, “wholesaling” was not the common term that investors used. It was only recently that everyone started using wholesaling as a way to describe what was once called “flipping the contract”. My first deal was closed in 1991, I ended up making $75,000 on a property that I was buying for myself. Which ironically, is how I fell in love with flipping the contract/wholesaling.

Luckily enough, when I started investing back in 1987 I was able to work as an agent for an office with 75 agents (74 of them were women). The founder of the company believed that women were naturals in the investing field and were able to tap into their natural and unique traits.

Why Women Succeed As Great Investors

Women are “Naturals”

Women tend to be great listeners and extraordinary problem solvers. We have the ability to be able to focus, break down a task, and then take the appropriate action. Most often, we don’t let our egos get in the way of pursuing opportunities that may suit us best.

Women are Nurturers

Over time, I have noticed that many successful investors, that are women, have previously held careers in positions like educators, nurses, and/or social workers. With these positions and others as well, it seems that being wise and having an empathetic personality goes a long way when separating your business from other competitors in the investing field.

Women are Advocates

As women, we enjoy being in businesses that stand for something other than being paid well. We tend to lean towards meaningful causes and wanting to help those in need.

Being able to network, establish winning scenarios, and build positive relationships are great ways to see women succeed on a social level. We tend to thrive in these areas and see competition more as a sisterhood than as competition itself. Many investing women want to see other women succeed too whether they are just starting out or have been investing for some time.

7 Steps to Take When Wholesaling

It’s pretty easy and enjoyable to wholesaling properties when you have the innate qualities described above. Try to put yourself in the scenario and trust your gut feeling. When you are willing to help others in need and listen to their story, you’re already winning. Most seller leads want to work with someone that genuinely cares and with these qualities you’re already the top candidate, you’re basically unstoppable.

1. 1. Choose the Right Area - Once you start researching, you’ll notice that some markets are more invested in and competitive than others. Sellers are even more difficult to work with in some areas than others. That’s why it is extremely important to choose the right area and tap into a market that is still behind on the curve, this will give you a head start in getting your wholesaling business up and running.
2. 2. Locate Off Market Properties - A great way to pull in leads is to find markets that are off the market (not listed by an agent). Keep a close eye out for sellers that I like to call “don’t wanters”, these are homeowners who are going through difficult life situations where they actually need to sell their home as opposed to wanting to sell.
3. 3. Find Ready & Qualified Buyers - Right now, the market is in the seller's ballpark. As a wholesaling, you have the upper hand when negotiating prices with sellers. You have the option to exclusively put deals under contract. Especially, since you get to choose the right area you are selective with who you get to work with.
4. 4. Analyze Deals - Believe it or not, this is where many investors receive misleading information when analyzing their deals. The “rule of 70” is the main misconception. I recommend not using it at all. It’s more reliable to look at the true value of the property by comparing it to the other homes and market conditions in your selected area. Structuring your offer based on those criteria and the demand as well will help you negotiate a lot more deals.
5. 5. Submit a Contract - As repetitive as it sounds, I cannot stress how many investors have messed up by skipping this important step. Writing a contract with the right contingencies allows you to renegotiate or back out of a contract if you don’t have a buyer in place. With that being said, you should be able to write 3-5 contracts a week. Meaning you should be sending contracts even if you aren’t sure the owner will consider it. With this action, you’ll be shocked at how often you receive a response as opposed to an owner disappearing on you.
6. 6. Due Diligence - Do not corner yourself. Take the time to fill out the contract currently and cover all ends. Yes, you should still be following your gut feeling. If an owner is being too difficult where they don’t want to work with you or if a buyer is being too aggressive, walk away. Don’t force yourself to deal with these scenarios for a situation that isn’t guaranteed and may end up causing problems in the long-run.
7. 7. Create A System - When wholesaling, it’s vital to keep in mind that this is a numbers game. One of the most appealing factors is the fact that this can be done virtually without ever having to see or be at the property physically. Therefore, creating a system is easier and more enjoyable; it also allows you the option to work from home or even on vacation traveling around the world.

So by all means, as a new or seasoned women investor, I implore you to take action! Follow your natural intuition and use your gifts to become the best investor that you can be.