The Landlordette is here to bring you the very first, Those That Inspire: Woman in Real Estate feature! We have recently had the honor of speaking with Pamela J. Goodwin of Goodwin Commercial. The purpose of these articles is to help you learn about successful woman in the industry, how they got there, and what’s going on with them today. We hope you find this as inspiring as we did.
A little about Pamela J. Goodwin:
Pamela J. Goodwin grew up in Omaha, Nebraska. She came from an entrepreneurial family that owned a poultry business. As a child, she worked in the business. Her first memory of real estate came from her father who started started buying residential rental properties when she was in her early teens. After college, when she was in her late 20s, she bought her first rental. Her background was a degree in interior design and at that time she wanted to become a famous hotel designer. She started off designing office spaces in Omaha.
The first half of her career in real estate was on the landlord side for large shopping center developers. She focused on tenant coordination and project management. She later went on to the tenant side to work for Brinker International where she helped develop more than 50 pad sites from 2003-2006. 11 years ago she started Goodwin Commercial, a boutique commercial real estate and consulting firm specializing in developing retail and restaurant pad sites.
Now that your up to speed on Pamela’s background, let’s get into Q & A!
Landlordette: Would you recommend having a mentor? Who has been your biggest mentor?
Pamela J. Goodwin: Yes, I would highly recommend a mentor. When I left corporate I partnered with a mentor who had 40 years of experience in real estate. He was my mentor for my first 4 years in the business. Along the way I’ve always had mentors to help me. I believe you have to have someone who has gone through similar experiences before. You get to learn from their past mistakes which helps you avoid making the same costly mistakes.
Landlordette: How did you reach out to your mentor?
Pamela J. Goodwin: My mentor was someone I had known. We had done past projects together when I was on the corporate side. Once I was on my own I knew I wanted their guidance so I reached out.
You always have to reach out to the person you would like to aspire to be. Someone who’s above and beyond you at this moment and that you want to be. Don’t hesitate, reach out and ask them to be on your team. There will be a time when you get to pay it forward. With all the mentors I’ve had I am happy to help newer people in the industry who seek my advice. No matter where you are there is always someone above you and someone below you.
Landlordette: What does your daily/morning routine look like?
Pamela J.Goodwin: Typically, I get up 5:30am and skim over my email. I know they say this isn’t good but I like to know about anything urgent first thing. I then go over the top 3 things I want to accomplish that day. I focus on the 3 things that are going to be profitable first. I am a big believer in the power of social media. I then take 30 mins in the morning on my pages, LinkedIn specifically because I have found this works great for me. Typically in the afternoon I’ll do another post about something I’ve learned that day that I think will be beneficial to share. My other non negotiable is my workouts. I have to workout everyday to clear my head. I do yoga twice a week. I recently joined a new fitness concept, body machine fitness, that I am loving! I have actually started skipping my lunch so I can get there everyday. Lastly, on Friday’s I sets up meetings for coffee/lunch.
Landlordette: What’s happening in real estate?
Pamela J. Goodwin: We’re based in Texas, and corporate relocation is booming here which is great. I see the retail industry changing, retail has to be innovative and add new concepts. For example, Barnes and Noble just opened their new store with a kitchen concept. More than half of the square footage is kitchen/seating area. In general, we see retailers downsizing, doing more temporary stores. It looks like a full time store but it’s a lot more open. This allows them to move in and out easier. You hear a lot of people to talk about how online sales keep creeping up on brick and mortar retailers. No one realizes that online sales are still less than 8% of total sales. 92% of people are still going in stores. People crave that human interaction. The ability to talk face to face to someone and try things on. Retailers just need to make sure they are constantly innovating and they will be okay.
The restaurant industry is still doing well. What we see with restaurants is a demand for the delivery service. This is changing the look of the industry because we now see a lot of restaurants downsizing or having kitchen only. I specialize in finding locations for restaurants and am finding that more and more convenience is key for the buyers.
Landlordette: Here’s a fun one for you, if you could have an all expense paid vacation anywhere in the world where would you go and why?
Pamela J. Goodwin: So many great choices, my number one pick would be to go sailing on a boat around the 1,000+ islands around Croatia.
We had a great time talking with Pamela J. Goodwin and hope you enjoyed learning more. If there is anyone who inspires you that you think would make a great guest, let us know here!