Women excel at being real estate brokers and property managers. However, being an investor in real estate has been a private club for men only. Financially, such investment was out the reach of many women, especially women of color. And because women weren’t part of the “club,” they didn’t learn about investment opportunities. Fintech, and more specifically crowdfunding, is changing that. Women can join together with their friends or others to invest.
The diverse team at Sharestates allowed them to see an opportunity in making the finance and real estate industries more accessible to entrepreneurial women. Sharestates helps people and institutions to borrow and lend at competitive rates in a fraction of the time it takes with traditional banks.
Like many girls, Nicole Joseph, COO at Sharestates, lost interest in technology long before she entered college. Fortunately for her, she was reintroduced to it when she worked at Moody’s, Morgan Stanley and Goldman Sachs. Joseph was a project manager for financial services companies but leapt at the opportunity to oversee development of technology initiatives. Run, don’t walk, when opportunities like these present themselves, said Joseph.
At these financial services companies, her interest in technology was reignited. She learned to speak tech with her techie colleagues and finally understand its power. She realized that technology could transform finance and real estate by making them more accessible. There is a critical lesson here — technology isn’t just about coding. It’s about the application of technology and how it can make traditional industries more innovative and open for everyone.
Sharestates crowdfunds real estate investments. Real estate developers (“sponsors”) apply for loan funding. Sharestates underwrites the loan using a 34-point risk assessment system and investors can view approved loans online. Investments can be made in increments of $1,000 and get paid on monthly basis, starting immediately. The opportunity is open to everyone, not just big investors, not just members of the “club.”
When creating business opportunities for themselves, women — often the family caregivers — need to look for fields with flexible schedules. Being a real estate agent, broker, property manager or investor provides that flexibility, according to Joseph. For women wanting to get into this field, she provided four tips.
- Build relationships. Find advocates and peers who want to help you succeed. Have both men and women in your network.
- Don’t hold back because you don’t know something. Learn it and then go forward.
- Get feedback on your ideas. Pivot when necessary.
- Make a plan that includes goals and KPIs (key performance indicators) to measure your success so you can adjust your plan.
Technology is making old industries new again. How will you use technology to create a business opportunity?