Women are making history as former Vice President Joe Biden announced that he has chosen Sen. Kamala Harris as his running mate for the 2020 presidential election. Biden considered several well-qualified women, including women of colour to support him in this election, demonstrating the progress that underrepresented women have made in politics, as mentioned in the Los Angeles Times.
Last Tuesday also marked the 100th anniversary of women’s suffrage when the 19th amendment guaranteed most American women the right to vote. It reminds us that we still have work to do whether it be in politics, business or investment, and why more women should look to step outside of their comfort zones and work on reaching their full potential no matter which sector they choose to be in.
Take real estate; for example, this business is so much more than a popular reality television series on Netflix. For a long time, women have taken a back seat when it comes to investing, which is especially true when looking at the property sector and why more women should invest in real estate.
Some women face multiple hurdles and often feel at a disadvantage because of their gender, and so leaves them feeling less confident about accepting new challenges and doing something they are not familiar or comfortable with. The ‘business world’ has typically always belonged to men, but now, more than ever, women are rising to the challenge and starting to invest and becoming financial leaders in their own right.
Here, we look at why more women should consider becoming real estate investors and what it means for the future of females in business, specifically those dealing with property and how this line of work can give women the chance to develop new skills, to become their own boss and to achieve their financial goals.
The Real Estate Market is Thriving
An industry historically previously dominated by males, the property investment sector is slowly being recognised by women who are becoming more involved and setting up their own property portfolios and businesses in the industry.
During the end of 2018, UK property consultants RWinvest noticed a significant rise in the number of women investors in the market and a further increase in the number of women displaying an interest in buy to let investment and could be a great decision to make given the current climate.
Despite the global pandemic, the real estate market is thriving, with companies seeing more activity than normal across the summer months, and some properties selling well above the asking price. Well established Coldwell Banker Clack & Dennis Real Estate stated that ‘2020 is among the top five years in terms of property sales, making it a stable and lucrative investment for the future.
Reach Your Financial Goals Sooner
By investing in real estate, it should help you to reach your financial goals much sooner whether you want to save for some vacation time, or you are looking to add to the retirement pot. No matter the reason real estate investment is one of the most profitable investments you can make, especially as buy to let investments provide you with two forms of income. Rental returns give you extra cash flow, and capital appreciation offers you a long-term pay-out on your property.
This is why many people choose to invest as it can give you additional cash flow in the short term to spend on extra vacations, and deliver passive income over an extended period of time to support you later on in life.
It Gives You the Chance to Learn New Skills
Overall, some women tend to be more cautious with their money and so they are likely to spend more time on research and opt for investments with lower risks whether it’s real estate, pensions, ISAs or stocks. A buy to let investment is considered to be less risky and requires plenty of skills that can be transferred into current job roles as well.
During isolation, many of us have taken the time to upskill, transfer existing skills, or learn new ones and work on taking a different path to help with future investments and financial security. When investing in real estate, it is necessary to carry out relevant research, critical thinking, planning, and budgeting; you will also be required to communicate effectively whilst managing your profits and expenses to ensure a successful investment.
Become Your Own Boss and Work for Yourself
There are many reasons why some women look to become their own boss, whether it be due to lack of respect in the office, wanting to level out the gender pay gap or simply wanting a seat at the table to offer ideas and have their thoughts taken seriously. Whatever the motivation for setting up their own business, it provides women with the same outcome to earn an additional income, and eventually, they will only have to work and answer to themselves.
As many women excel in their careers and management roles, it provides them with the opportunity to invest their capital into the real estate market and become an entrepreneur. This gives women the power and responsibility to make their own decisions, which includes, paying themselves a fair wage and being flexible with their working hours.