People all around the world have created millions because they invested in real estate. 90% of millionaires become so through real estate. Today we are going to share 4 incredibly successful female real estate investors that you should know about!
At the age of 23, she quit her job as a waitress and borrowed $1,000 to found a little real estate company in NYC that would become the largest and best-known brand in the brokerage business: The Corcoran Group. She's also a shark on Shark Tank. She has a net worth of $100 million.
Learn more about Barbara here
Dottie began her real estate career in 1978 working as an agent for Merrill Lynch on Long Island. During that time she became one of the top brokers, and in 1989, she took out a $7 million loan to buy Prudential Long Island Realty. From then on she put all her efforts into building the most powerful brokerage on Long Island and then in the Hamptons. She has a net worth of $270 million.
Did you know that the government actually encourages real estate ownership? Buying real estate often lowers your taxes and with depreciation it can appear as though you’re running at a loss. Even though you’re making income, you have lower taxes and no self employment tax on rental cash flow. So more money just goes right into your pocket! That’s the beauty of real estate- it allows you to keep more of the money you make, instead of giving it to the government.
If you're in the States, I want to wish you a very Happy Thanksgiving. I want to say THANK YOU! I'm so grateful that you're along on this journey with me!
I firmly believe that real estate is one of the best ways to build wealth, and that women with wealth give back to their families, communities, and the world. Thank you for doing your part to make the world a better place!
As you enjoy your Thanksgiving feast (or not), remember that not much happens in the Real Estate Investment world in this period between Thanksgiving and New Years' Day.
After Thanksgiving, most sellers will wait until mid-January to put their properties on the market. Many of the insurers, lenders, contractors, lawyers. etc. go on their holiday breaks, so the timelines for closing deals and doing rehab slow way, way down.
It's a sleepy time for deals, but there are definitely things you can be doing. So what can you do to get ready to start making some/more money in real estate next year?
I have three...
IMHO real estate investing is the best investment. It's better than the stock market and it's WAY better than just putting money in the bank. Here's why:
1. Passive Cash Flow: when you put your money into real estate, you have tenants pay your mortgage. So you receive passive income every month. When you have enough passive income streams that it equals or exceeds your expenses, that is financial freedom!
2. Federal Tax Benefits: because of the way the tax code is structured, you can be making money on real estate, but for tax purposes, it looks like you've lost money. That means you're paying less in taxes. When you're building wealth it's important to remember it's not just what you make, it's what you get to keep that matters! Real estate helps you keep more of your money.
3. Leverage: if you want to buy $100,000 worth of stocks you'll have to put $100,000 in a brokerage account. However, if you want $100,000 worth of real estate you can put 20% down, 10% down, or sometimes 0% down...
Shirley Chisholm was the first black woman elected to Congress, representing New York’s 12th District. She served for seven terms!! Chisholm was also the first African American to make a bid to become President of the United States in 1972, as a Democratic representative.
She was an advocate for women and minorities, and she, and her all-female staff, made incredible improvements to the lives of many inner-city residents.
Shirley was a trailblazer. She made her own opportunities and didn't let anything stand in her way. Today we celebrate her.
Do you know your net worth? It's not that hard to calculate.
One of our Goddesses asked if she can include her Cryptocurrency in her net worth. Another asked if her car can be included.
The answer is Yes! You can include those things in your net worth calculation, along with a lot of things you probably hadn't thought about.
Your net worth is the value of your assets (what you own) minus your liabilities (what you owe).
An asset is anything you have that has significant value. Here are the assets you can include in your net worth calculation:
Ready to be inspired? It's time for the Goddess Spotlight!
Each month I spotlight members of our community who are successfully building their real estate portfolios and are on their way to financial freedom. Some are relatively new, while others have been at it for a while.
These goddesses invest in almost every niche imaginable, and they ALL have a lot of insight to share!
Today, I'm sharing my interview with Cheryl Fung - our Wealthy Goddess of the Month!
CLICK HERE TO VIEW HER INTERVIEW
Here’s a recap of what we talked about:
They say the top three rules of real estate investing are:
Where you buy is more important than what you buy! A mediocre property in a strong market is going to do well. A beautiful property in a bad market is likely to lose money.
Remember those bold or italicized blurbs in the margins of our school textbooks? The most important words and phrases grabbed our attention and let us know where to focus. We’re taking a moment today to do the same with a technical term you’ll find around here:
Early in my real estate investment career, I realized that many deals were first (and often only) offered to men who were part of an established network. The reality is that many investments require there to be a “pre-existing relationship” between the sponsor (the person bringing the deal) and the passive investors. I created the REIG Investor Club to provide opportunities to women that they might not otherwise have the time for or access to.
So, are you an ...