Place in the Industry
When Carrie Cook says success in real estate is earned – she knows what she’s talking about.
“I do not have an Ivy League education. In fact, I didn’t go to college until 10 years after I graduated high school,” she explained. The mentor who suggested she do so was, at the time, the head of the Democrat Party in Nevada and running government relations for a Fortune 500 company. “I thought to myself, ‘she’s pushing this for a reason,’” she recalled. Her degree from the somewhat unconventional University of Phoenix taught her to work in a group setting. “It takes a group of individuals to accomplish what I’m accomplishing [in real estate], period,” she said. “This is the result of a teamwork environment.”
“This” is a small word to describe the extremely big things Cook is doing these days. She is the CEO of Preferred Trust Company, a self-directed IRA custodian, and the president of Ignite Funding, a company which provides turnkey real estate investment opportunities in the Southwest in an unusual and highly collateralized format. “We’re very unique,” she said. “When you invest with us, your name is put on the deed of trust as a beneficiary. You own the real estate or a portion of the real estate.”
Key to Success in the Industry
“Our industry is not for the weary. You need a hard surface about you if you are going to lead a company through the trenches in this industry.”
“Probably my proudest achievement is making it through the [real estate storm]. I don’t know when I can say I survived it because I live it every day. I always make sure I’m ensuring the best product with an investor’s hard-earned money.”
“It was very painful, but I have always been headstrong on being transparent and communicating with investors. Whether it’s good, bad or indifferent because there is no job more serious than managing people’s hard-earned money.”
A Word for Women in Real Estate
“Don’t be fearful of testing your theories. We analyze everything and then we make a decision. But you can’t do this in [the real estate] industry. It moves too quickly. Make a decision, then execute it as best as you possibly can.”
“You have to get out there and build those layers of education which will enable you to not make the same mistake twice. People will see how you navigated your way through your decision – good or bad.”
“Women communicate well; we’re natural communicators. Be willing to communicate with your investors and your colleagues. It’s a struggle, but they’ll have such trust for you in the end.”
What’s Ahead in 2017
“ is going to be a huge transition year. We’re going to start to integrate online investment options, which will enable investors to invest their money in an investment vehicle backed by the collateral. Investors are getting to the point where they don’t require human contact to make an investment. So, we’re building an online investment platform with a low barrier of entry which meets Millennials’ needs as well as those of [more traditional] investors.”
Every Monday, Think Realty is highlighting 1 of 10 women who have made a significant impact on the real estate investing industry. While each woman has a different specialty in the industry, one thing ties them all together: success.