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This series highlights inspiring stories of women who have created successful and sustainable careers in real estate and/or invested in real estate to achieve financial independence, gain lifestyle flexibility and create lives built on their own terms.
Araceli Espinoza, assistant director of admissions, guest and community relations at Westmont College in Santa Barbara, California, is deeply committed to empowering first-generation students. A first-generation Mexican-American herself, Espinoza’s personal journey has shaped her leadership approach and driven her passion for helping others succeed.
With a bachelor’s degree from Westmont College and a master’s degree from Pepperdine University, Espinoza has worked to build sustainable partnerships and foster a culture of diversity and inclusion in her institution. Her remarkable contributions were recognized early in her career when she was named Employee of the Year during her first year in higher education.
While she’s known for her dedication to education and community, Espinoza’s story extends beyond the classroom. Real estate has played a pivotal role in shaping her financial independence, providing security and opening doors for long-term opportunities.
Her journey offers a powerful example of how women, especially those from marginalized backgrounds, can leverage property ownership to create the life they desire.
A family history of land and homeownership
Espinoza’s family history has always been intertwined with land and homeownership. “My parents and ancestors have owned land in our hometown of Oaxaca, Mexico, for many generations,” she shares. “The concept of renting and never owning a home was foreign to them when they immigrated to the United States. They always emphasized the importance of homeownership to me, and growing up in the Central Valley, where I spent most of my childhood in farmworker housing, I understood this value deeply.”
Living in a small, 500-square-foot home with no indoor plumbing alongside her family of nine left Espinoza with a lasting appreciation for stability and opportunity. “That experience shaped my belief that homeownership was the only way to achieve stability,” she reflects.
Buying her own piece of the dream
However, the path to ownership was not without its hurdles. “When I married at 25, I emphasized the importance of owning a home to my husband, who initially didn’t share the same view,” Espinoza recalls. “After some research, we discovered he qualified for a VA loan, which required a small down payment and offered an excellent interest rate. We closed escrow and became young homeowners.”
Shortly after purchasing their first home, Espinoza and her husband both lost their jobs and were forced to relocate. But her determination never wavered. “I was determined to keep our first home as a rental property,” she says. “Two years later, we bought our second home, and once again, we were homeowners.”
However, it was during her divorce that Espinoza truly learned the value of navigating real estate alone as a woman. “The process was difficult, as we had to divide our properties,” she shares. “I kept the first home, but being a woman navigating the real estate market alone posed its challenges. Attending open house showings without the support of a partner was intimidating. Despite these obstacles, I didn’t give up.”
Exploring international real estate opportunities
Espinoza then made an inspiring decision: to explore real estate opportunities outside the United States. “I set my sights on Oaxaca, where I found my second property near Puerto Escondido.” Today, that first home continues to generate income, and Espinoza is thinking long-term, using her properties to invest further, particularly for Airbnb, to create passive income. “While I am passionate about my work in higher education, real estate has given me the financial independence and security I need for the future.”
Espinoza’s journey highlights how real estate has empowered her to take control of her financial future. “As women, we are often told that we aren’t suited to pursue our professional and personal dreams because we are expected to conform to ‘traditional’ gender roles,” she says.
“My advice is to trust your intuition and intelligence to become the woman you want to be. Don’t wait for others — especially men — to help you plan your future. You have unique gifts and talents that, when embraced, will propel you forward.”
Her experience underscores the challenges women, especially women of color, face when it comes to property ownership. Studies show that while women are increasingly purchasing homes on their own, there remains a significant gap in homeownership rates.
In particular, Black and Latina women face a “homeownership gap” that limits their ability to build wealth through real estate. In 2021, the homeownership rate for Black women was 44.5 percent, compared to 74.5 percent for white women. These disparities are rooted in historical discrimination, such as redlining and unequal access to financing.
How inequities in the financial system can spark change
Espinoza sees these inequities as opportunities for change. “I wish young girls had more opportunities in education to explore entrepreneurship and real estate,” she says. “It’s important to have a foundation that allows them to understand the significance of these fields.”
“I also believe we need more women to come together, offering mentorship and workshops focused on these themes,” she said. “Real estate and homeownership need greater representation from women — especially women of color — who can promote the importance of owning property.”
Her call to action is clear: women, particularly women of color, need to be represented in leadership roles within real estate and entrepreneurship. “Change begins in our local communities, where awareness can be raised and systems can be built to support and uplift women in real estate.”
Through mentorship, education and self-empowerment, Espinoza has built a future for herself rooted in financial security and independence. Her journey reflects the growing number of women breaking through barriers and investing in their own futures through real estate.
With perseverance, resilience and a commitment to empowering the next generation, Espinoza’s story is a powerful example of how women can leverage real estate to build lasting wealth and create a path to financial freedom for themselves and their communities.
Melanie C. Klein, M.A., is an empowerment and mindset coach.
