In this article we pick up our Women to Watch series, featuring seven standout female real estate investors to watch in 2019. Read the full intro here.
How did you get started investing in real estate?
I was a female executive in corporate America and realized that I was quickly heading toward a corporate ceiling that as a woman I was not going to be breaking through. I decided to turn my attention and talent toward something that I could grow and develop without limits and real estate was that opportunity for me. A few properties and a few months in, I bought my first ‘sight unseen’ at a sheriff’s sale. When I opened the front door and realized I had purchased a ten-family I became an instant landlord and I haven’t looked back since.
What are the top two characteristics you exhibit that have made you a successful investor?
Tenacity and integrity.
How do you manage work/life balance?
It is my greatest challenge. I absolutely love what I do, so for me it really doesn’t feel like work. That being said, though, I do recognize that it can—and at times has—thrown my life off balance. Three of our company core values are God, family and work, and I ask my team to live out those values and to live them in that order. I won’t say that I am successful with that challenge every day but it does help us to find that much needed balance.
What are your goals for 2019?
We currently manage over 1,700 SFR in southern Ohio. We will rehab and add to that portfolio another 250 homes as well as build an additional 50 new construction homes this year. One of our company goals for this year is to continue to improve our customer service to tenants and investors. We are also going to focus on becoming a lean, mean machine so that we are able to continue our growth and success no matter what happens with our economy.
What is the one strategy you’re focused on in 2019 that you feel will bring you the greatest success?
Each year I ask my team to choose one word for the coming year and this year mine is “SIMPLIFY.”
What are the three factors that you look at in your market to determine whether a deal is a good deal?
Profit margin, neighborhood and long-term sustainability of the property.
Favorite market to invest in? And why?
Southern Ohio. It is one of the strongest markets in the country today and I love that we are able to make a difference in our communities as well as the lives of all of our customers, our contractors, our employees, our tenants and our investors. The positive effects that we have are generational.
What’s your greatest investment success story?
I have too many to just name one:
- Turning my passion into a business that just celebrated our 20th year anniversary.
- Our office building. Bought 20,000 sq ft commercial space valued at $400,000 for $125,000 and received a judgment against the previous owner for $320,000.
- Becoming a builder.
Best piece of advice for new investors?
Do one thing and do it well. Do not chase every great opportunity. Focus.
Words you try to live by?
Do the right thing. Be a servant leader. Always be a good steward.
Connect with Missy: email@example.com