Women Who Behave Never Get Rich!!Posted on July 30, 2012 by
I am often asked by women at events I speak at whether or not I think a woman can make a go of the real estate investing business on their own. My personal answer to this question is always a resounding-YES!
Actually, women have a distinct advantage over men in the real estate investing business. Sorry guys, it’s the truth! You see women are generally much more comfortable working with other women. That’s a given. So this makes the whole process go a lot more smoothly. And Men really like working with Women because it kind of levels the playing field. Women are seen as easier to work with. So Women end up doing really well in the real estate investing business even if they are working on their own.
Men are more comfortable working with a female investor for a lot of reasons. The first and most important is that there is no ego or testosterone coming into play in the negotiation process so generally a man and a woman working together are going to come up with a win-win solution much more quickly and easily than a man working with a man. It’s not like one of the guys “has to win”.
Women can definitely be very successful in the real estate investing business working on their own. I am living proof of this fact. Even though my husband and I work together in the business, I am usually the one making the deals, especially when working with senior homeowners. Once again; they just seem to be more comfortable working with a woman. I don’t mean to sound chauvinistic here; it just seems to work out that way.
It also seems to go over better when I am the one asking for the deed to a property I want to buy subject to the existing mortgage. The whole scenario just goes better when I am the one doing the asking whether working with male sellers, female sellers or couples. I just think women are seen as more nurturing, empathetic and easier to work with. So yes, ladies; you can definitely have a successful real estate investing business all by yourself!
I could share several examples of deals I have done myself, even very recently to drive this point home. I just did a deal with a lady who had just turned 40 and decided to sell her home so she could use the proceeds to travel the country before she was too old to do so. She had been contacted by Real Estate Investors who were men and she wouldn’t sell her home to them. Then she saw our ad in a shopper guide and called me. We met and she agreed to sell me her house. She was just much more comfortable working with another woman, and being a single woman living alone, she was nervous about letting a man into her home that she didn’t know.
Let me share another deal I did where a couple was being transferred out of state for business and needed to sell their home quickly. They had had another investor come out to see them before I showed up. He showed up in a suit and tie and they felt he was just too “slick” for them to be comfortable working with, so when I showed up in nice slacks and a blouse, empathized with their situation and showed them how I could help them solve their problem, they sold their home to me. I made a hefty profit on this deal!
I do have some advice for women working on their own based on my own experience. Here is some of the best advice I can give you. Ladies, if you are going to a property and you haven’t been there before and you don’t know the sellers, carry a cell phone with you and make sure someone knows where you are going to be. This is just common sense information to protect you. In my case, most of the time, the negotiations have been done on the phone before I ever go see any property.
If you are going to a seller’s home and there is a couple involved in the deal, make sure they are both going to be home. You need both of their signatures on paperwork anyway.
If you are going to a vacant ugly house I suggest taking someone else with you or making sure someone knows where you are, just in case. Just remember to use a little bit of common sense and caution in your dealings and you will be very successful in this business.