Meet Elaine Spierer: Real Estate Mogul Who Reinvented her Life
At the age of 45 Elaine Spierer made a radical decision to reinvent her entire life.
As an office clerk and wife to a successful husband, she was leading a very traditional life and felt stuck on a course that was no longer for her. Realizing she wanted to forge her own path, Elaine separated from her husband and made a risky decision to move to Venice Beach, California, then known as the ‘slum by the sea’. It was a rough transition from her life in Westwood, but there she started over completely from scratch and began to live life on her terms.
Knowing absolutely nothing about real estate, Elaine followed some advice and decided to get a real estate license and enter the world of Venice Beach real estate. It was scary, but she felt uninhibited with what she could do with her future. She also built a modern home in an old-fashioned Venice neighborhood. Ridiculed while under construction, the home would later be praised and lend her the credibility that launched her successful 20-year career. As Venice Beach emerged and evolved, Elaine built a full real estate practice, become a developer and went on to own, sell and develop properties that are worth many millions of dollars.
Elaine shows us it’s never too late to get started on your journey to becoming SELF MADE. Beginning again at 45 and now in her 70s, Elaine is a SELF MADE women who fully controls her own destiny.
4 Lessons to Take from Elaine Right Now
Ownership is Security.
Prioritize differently and shift your spending to focus on ownership. Instead of buying small things, think strategically and buy buildings or properties that will earn ongoing value. Even if you have to live in the house empty for 2 years, own the property!
Defer Gratification & Don’t Buy Depreciating Assets.
Not having money in your old age is a disaster, so save for retirement and invest in things with lasting value. Don’t buy a Rolex watch when you’re not rich, and don’t lease a Mercedes Benz for $700 a month – these are depreciating assets that lose their value over time.
Bring Added Value.
The key to building a client base is what you know, your credibility and the expertise you bring. When you have the knowledge, something to say, and an opinion, you bring added value. People take you seriously, trust you, and refer you to others.
The Whole Key to Success is Never Quit.
Believing in what you’re doing, not being defeated, and not quitting is where the winning is. (There are even really stupid people who are really successful because they didn’t quit!)