This interview is with Shannon Beatty, Founder & CEO at House Buying Girls.

 

Shannon Beatty, Founder & CEO, House Buying Girls

Shannon, can you tell us a little bit about yourself and your journey to becoming a real estate expert?

My interest in real estate started at a young age. Growing up, my parents were constantly buying and selling homes, and I was always fascinated by the process. By the time I was in high school, I knew that this was something I wanted to pursue as a career. After graduating from college, I immediately enrolled in real-estate courses and obtained my license. I started working for a large real-estate agency, but I quickly realized that I wanted to do things differently.

 

What were some of the pivotal moments in your career that solidified your passion for real estate?

A defining moment in my career was when I assisted a single mother in finding her dream home. She had been struggling to find a place within her budget, but I was determined to help her. After weeks of searching, we finally found a beautiful home that fit all of her needs and was within her budget. Seeing the joy on her face and knowing that I had made a positive impact on someone’s life solidified my passion for real estate. From that moment on, I knew that helping people find their perfect home was my true calling.

 

You’ve mentioned the stability of real estate investments in a previous answer. Can you share an experience where you witnessed this firsthand, perhaps during a time of economic uncertainty?

A few years ago, just before the 2008 recession, I invested in a commercial property. Despite many advising against it due to perceived risks and suggesting I wait for market stabilization, I trusted my instincts and proceeded with the purchase. Surprisingly, amid the economic downturn, the investment proved successful. Over the years, the property’s value increased, and I generated a steady income by renting spaces to various businesses. This experience highlighted the stability and growth potential of real estate investments, even in uncertain times.

 

Many aspiring investors are drawn to the idea of passive income through rental properties. What is your top piece of advice for someone looking to build a successful rental portfolio?

My foremost advice for anyone aiming to build a successful rental portfolio is to conduct comprehensive research and diligent analysis before committing to any investments. This includes researching the local market, understanding the demand for rental properties in the area, and carefully considering the ongoing expenses, such as maintenance and taxes. It’s also important to carefully select your tenants and have a solid screening process in place. This will help minimize potential issues with late payments or property damage.

 

Managing software subscriptions is crucial for real estate professionals. Can you walk us through your process of evaluating and choosing the right software solutions for your business?

I understand the importance of utilizing software to streamline and manage various aspects of real estate. When it comes to evaluating and choosing software solutions for my business, there are a few key factors that I consider. I identify the specific needs and pain points within my business. This could be anything from managing client information to automating marketing efforts. Once these needs have been identified, I research different software options that cater to those specific areas. Also, I carefully evaluate each software based on its features, user-friendliness, customer support, and cost. It’s important to compare multiple options and read reviews from other real estate professionals to get a well-rounded understanding of each software. Once I have narrowed down my options, I often take advantage of free trials to test out the software and see how it fits into my business workflow. This allows me to make a well-informed decision before committing to a long-term subscription.

 

Ethical marketing is paramount in real estate. Can you recall a situation where you had to navigate a tricky ethical dilemma in your marketing efforts, and how did you handle it?

I can recall a situation where a client wanted me to exaggerate the features and amenities of a property in my marketing efforts in order to attract more buyers. However, upon further research and inspection, I found that some of these features were not actually present or were misrepresented. Also, I knew it was important to be transparent and provide accurate information to potential buyers. I explained this to my client and we came up with a revised marketing strategy that focused on highlighting the actual features of the property rather than embellishing them. This ultimately led to a successful sale without compromising my ethical values.

 

Prioritization is key in a fast-paced field like real estate. When faced with competing deadlines related to property marketing, how do you determine which tasks are most time-sensitive?

When confronted with competing property-marketing deadlines, I begin by evaluating the urgency and significance of each task. This involves evaluating the potential impact on my clients and their properties, as well as any time-sensitive factors, such as upcoming open houses or contract deadlines. I also prioritize tasks based on their level of completion. For example, if a task is already partially completed, it may take precedence over a completely new task. Additionally, I consider the resources and support available to me for each task. If there are team members or software solutions that can assist with certain tasks, I may prioritize those that require more individual effort.

 

You’ve spoken about creative financing solutions like crowdfunding. Can you share an example of a project where you successfully utilized an unconventional financing method?

A notable project where I successfully employed an unconventional financing method involved a client aiming to invest in a multifamily property without the funds for a traditional down payment. In this situation, we explored the option of crowdfunding. Through online platforms, we were able to raise the necessary funds from multiple investors who were interested in the potential returns of the property. This allowed my client to secure the property without having to come up with a large sum of money upfront.

 

Looking ahead, what emerging trends in the real estate industry are you most excited about, and how do you see them shaping the future of real estate?

As technology continues to advance, I am most excited about the emerging trends in virtual and augmented reality in the real-estate industry. These technologies have the potential to transform how properties are marketed and shown to potential buyers. Virtual reality allows for immersive 3D tours of properties, giving buyers a realistic view of the space without physically being there. This not only saves time and resources for both agents and clients, but it also opens up opportunities for long-distance or international buyers. Augmented reality, on the other hand, has the ability to overlay digital information onto a physical space. This can be used in various ways within real estate, such as providing interactive floor plans or showcasing potential renovations or additions to a property.