There are basically two reasons that every woman needs a real estate portfolio. Here they are:
First, it has been scientifically proven that women will live longer than men. As a whole, most American women live longer than their mate. This is based on hundreds of studies across many decades of Americans.
The feminist in me believes we live longer because we are the stronger sex. The wife in me knows we live longer because we always want the final word. The daddy’s girl in me knows it’s because we’re too stubborn to leave so quickly.
The real estate expert in me knows it’s because we have another deal to finish. Regardless, of the reason you choose, on average women live longer than men.
The second reason is that it has been personally proven that women spend more money than men. Seriously, if my husband goes into the grocery store for a bag of chips and a six-pack, he will come out with a bag of chips and a six-pack.
If I go into the store with the same list, I’ll come back out with a fruit tray, a veggie tray, three different drink choices, two bags of chips, dipping sauces, popcorn and cinnamon rolls to make for breakfast.
Clearly, I spend more money than he does on a simple run in the grocery store.
Another example of the amount of money I spend is found in our daily grooming habits. My husband is picky about his curly hair shampoo and gel. I’ll say it’s a pricey shampoo, regular hair gel and leave it there.
I also use expensive shampoo, but following that regimen, I have an expensive conditioner, Argan oil, mousse, hairspray, hair clips and makeup from Sephora, Clinique and Mary Kay.
Do you think I use a standard toothbrush from the dentist like he does? Oh no. My pearly whites need to be massaged with an electric brush, floss and a whitening paste before bed.
Clearly, I spend more money than my husband does, and I think I’m pretty low maintenance (right?) when it comes to personal hygiene.
So, if we are going to live longer and spend more money than our companions, we should have more access to money-making opportunities, right?
That’s why women sign up in droves with multi-level marketing (MLM) companies. They spend $100 to get started, sell a few products in their spare time to generate millions of dollars in passive income? Heck yeah!
Honestly though, how many women actually make it to the top of that pyramid? How many go further into debt from buying the latest and greatest product to solve wrinkles or keep food fresher longer? Not to mention, that “side business” remains a side gig unless you invest your full energy into it.
If you want to actually create lasting residual income, stop joining the MLMs! Stop making $20 from an affiliate program where the lead person makes thousands.
Put your energy, time and efforts back into an industry that has lasted and shown its strength since Jesus walked on water. No, not prostitution. The other oldest profession in the world is real estate. Buy real estate.
Why women should buy real estate?
Rent property to other people. Sell off chunks of land that you don’t need or want anymore. Create a business that can last for generations. It will certainly be a better inheritance for your children than 2016’s hottest makeup trend or plastic ware with lids that don’t fit because they were washed on the bottom rack of the dishwasher.
Real estate can fund your lifestyle through retirement, too. If you’re a millennial like me, you pretty well know social security won’t keep you in the standard of living you’ve grown accustom to.
You think the company 401K match will suffice? Even after you factor in inflation and stock market fluctuations, I don’t want to hedge my bets on someone in an ivory tower dictating my financial goals. Real estate is the only way to invest money and have a control over the property.
You can invest $10,000 in a house, another $10,000 to make it “livable” and rent it for $500-$800 per month for the rest of your life.
How long will it take before you start making money? $20,000 investment divided by rent per month (Let’s average it to $650) equals 31 months.
So, in less than three years, you’ll have your money and cash flow of $650 per month for the rest of your life.
Let’s say you save that $650 for two years. Now you have $15,600 to use to buy another house and rent it. If you keep repeating this simple cycle, how long will it take the average 9-to-5 worker to be able to leave the cubicle?
If you don’t have $10,000 or $20,000 to spend on a house, try a smaller investment.
Let’s say you bought land for $1,500 and rented it for $250 per month. By compounding it every year or two, how long would it take for a lady to feel comfortable with her retirement income?
I have actually done this situation many times. I invested $1,500 in a piece of raw land, and I rent the driveway to a Fortune 500 company for $250 per month. I have a choice every month when that payment is sent via ACH into my account.
Do I use this $250 for mani-pedi night with mom? Or do I save it a buy another tract of income-producing property every year until I collect $20,000 per month from my rental portfolio?
It’s super easy and fun to get started in a real estate portfolio. You do not need $100,000 cash sitting in the bank to become a real estate investor.
Save $100 per month, and in 15 months, you can buy land. Maybe even sooner if you know where to shop. (Hint: Stay out of the hair and makeup aisles if you want to save that little $100 per month).
Whitney Nicely is the queen of real estate in east Tennessee. All Real Estate, All the Time with Whitney Nicely is a podcast to learn about flipping, flopping, listing, buying and investing. Follow her on Instagram @WhitneyBuysHouses or Facebook.