By Cecilia Cossio | Founder | CGP Legacy Group & Legacy Brands
Investing in multifamily real estate can be a very effective way of building wealth. For Latinas, who are underrepresented in executive roles and industries like real estate, investing in multifamily properties can be transformative and empowering. Cecilia Cossio, who is a seasoned real estate professional, offers her professional insights on breaking barriers to build generational wealth.
From Leasing Agent to Multifamily Real Estate CEO
Cecilia Cossio, the founder of CGP Legacy Group, began as a leasing agent over thirty years ago, working her way up through the multifamily real estate industry. She has managed thousands of units and led teams that oversaw multi-million-dollar business plans. However, Cecilia’s strength comes from her belief in the power of people. Constantly elevating others while she rose through the ranks, she continuously mentors her teams and encourages them to take bold steps in their careers. She recognizes that success is a collective effort—by empowering others, you are also empowering yourself.
Cecilia has always stressed the importance of breaking through glass ceilings, being a Latina leader in a male-dominated industry. She is a firm believer that real estate is not an out-of-reach domain for Latinas and other underrepresented communities, and with the right mindset, support, and tools, everyone has the potential to succeed.
Embracing Multifamily Real Estate Investing
Real estate is a wealth-building avenue where underrepresented groups such as Latina women can thrive. Cecilia emphasizes that is it vital to take calculated risks when stepping out of our comfort zones, but we don’t have to do it alone. By seeking out mentors in the field, you can find support in overcoming any fears and answering questions as you begin to build generational wealth and financial independence. It is also important to know that real estate takes time, so the sooner you begin investing the higher your potential gains may be.
Getting Started in Multifamily Real Estate Investing
When getting into multifamily real estate investing, Cecilia’s advice is to start small and learn as you go. As stated previously, networking can be an enormous help when navigating this avenue. Joining local real estate investment groups can help you meet face-to-face with experienced investors, offering a great opportunity to learn your first steps. Mentorship programs can also be an incredible tool for learning and avoiding common mistakes, though some may require some kind of investment.
Ultimately, Cecilia advises you should take note of the resources you may already have. This can include your 401k or resources you may share with friends and family; by building your investment portfolio, you can grant yourself a clearer image of your investing possibilities. Before you jump into any deal, it’s important to ask questions, understand the risks, and verify the legitimacy of every opportunity. The most informed decisions can only be made through expanding your knowledge.
Building Wealth Over Time
Cecilia notes that one of the biggest mistakes people make when considering investing in real estate is the idea that buying a single-family home will do the trick. Real estate is not only about buying a primary residence but using property as a tool to generate wealth. Buying and holding properties for long periods of time can help you build equity that can be passed down through generations. Diversifying your portfolio through multifamily/single-family homes or commercial real estate can help you build more solid investments. Finally, real estate is one of the few industries where you can earn passive income, offering many tax advantages. Learning more about each opportunity and taking action can help your own financial plans, as well as those of your loved ones.
Less than 1% of minority women are involved in real estate investing, and it is Cecilia’s mission to ensure that more Latinas get a seat at the table. We can empower one another in this industry by investing in real estate, but also through mentorship and networking. Cecilia advises us all to start small but think big: you don’t need millions to make money in real estate.
The Path Forward for Latinas With Real Estate
Building wealth through multifamily real estate is a long process, but worth it. Investing in real estate gives Latinas the power to create financial freedom for themselves and their families, helping us bring an end to generational cycles of financial struggles. The sooner you find the right resources and mentors, the sooner you can gain the courage and the right mindset to step out of your comfort zone and overcome any challenges that come your way. Eventually, you may be able to pay it forward by mentoring fellow Latinas and friends to navigate the world of real estate investing. It’s time we start building generational wealth and creating our own path to financial freedom.
Cecilia Cossio
Founder
CGP Legacy Group & Legacy Brands
Cecilia Cossio, Founder of CGP Legacy Group & Legacy brands, is a seasoned leader with over 30 years of experience in multifamily management, business, real estate investments, and Operations/HR Consulting. With a mission to empower individuals and businesses to work smarter and build generational wealth, Cecilia combines her extensive background with a passion for inspiring and motivating others. She is recognized for her expertise in strategic direction, enhancing financial performance, and achieving operational excellence in multifamily property portfolios across the US. Additionally, Cecilia offers tailored consulting services, catering to business owners, financial institutions, and real estate entities. Known for her inspirational, motivational, and transformational speaking style, she is dedicated to sharing knowledge and empowering others to become success stories in their own right.
