Breaking Barriers and Building Wealth: Beth Azor’s Mission of Empowering Women in Commercial Real Estate Investing
In the latest episode of "How to Invest in Commercial Real Estate," we had the pleasure of interviewing Beth Azor, the founder of Azor Advisory Services. Beth shared her inspiring journey in the retail investment industry and highlighted the importance of women's participation in commercial real estate investing. In this blog post, we will delve into the key takeaways from the episode, emphasizing the need for diversity and empowerment in the industry.
Beth's Transformation from Retail Leasing to Investing:
Beth's story began in 1986 when she entered the retail leasing and investment industry. Initially, she focused on leasing and developed a passion for filling vacancies in shopping centers. However, her perspective shifted when her boss and partner proposed investing in a shopping center. Despite initial reservations due to financial constraints, Beth eventually seized the opportunity and became an LP (Limited Partner) in the deal. This marked the beginning of her successful journey as an investor.
The Power of Being an LP:
Beth emphasized the importance of being an LP and learning from experienced investors. By observing the investment process and studying successful deals, she gained valuable insights that ultimately prepared her to become a General Partner (GP). Beth advised aspiring investors to save money diligently and invest as LPs, leveraging the knowledge and experiences of others before transitioning into a GP role.
The Gender Disparity in Commercial Real Estate Investing:
During the conversation, Beth highlighted a concerning statistic: only 3% of commercial real estate investors in the United States are women. Furthermore, of this small percentage, 50% are either spouses or inherited investors. Beth stressed the need to change this disparity, encouraging more women to participate in commercial real estate investment and reap its financial benefits.
Empowering Women in Commercial Real Estate:
Beth is actively working to empower women in the industry through her initiatives. She organizes the CRE Investment Summit for Women, bringing together experienced female investors from various sectors, such as hospitality, self-storage, retail, and more. These events provide a platform for women to share their success stories, discuss investment strategies, and foster a supportive community.
The Power of Representation:
One crucial insight Beth gained from her conferences and summits was that many women hesitate to invest in commercial real estate because they do not see other women in their circles doing so. To combat this, Beth showcases successful women investors, proving that women can excel in the industry. By creating a network of female role models and providing hands-on experiences through bus tours and breakout sessions, she inspires women to take the leap and invest in commercial real estate.
Impressive Returns and Success Stories:
Beth's personal journey as an investor is a testament to the profitability of commercial real estate. Her investments have consistently yielded impressive returns, with an average of 20-25% return on investment. She shared a remarkable example where a property she bought for $4.5 million appreciated to a staggering $60 million over 16 years. These success stories exemplify the immense potential for wealth creation in commercial real estate.
Conclusion:
The podcast episode featuring Beth Azor shed light on the commercial real estate industry's gender disparity and the need for increased female representation in investment circles. Beth's personal experiences, insights, and initiatives to empower women in the field serve as an inspiration to aspiring investors. By encouraging more women to invest and providing them with the necessary support and resources, we can create a more inclusive and prosperous commercial real estate industry. It is time to break barriers, challenge norms, and embrace the limitless potential that commercial real estate offers for all.
