Women in Real Estate: Erica LaCentra
Director of Marketing, RCN Capital
elacentra@rcncapital.com | 860.432.4782
My start in the real estate investing industry was a case of being in the right place at the right time. As a recent college grad working as an executive assistant within the ticketing industry, I had no idea what the future had in store for me. But, I knew I wanted to be more than a secretary.
I connected with a female executive within the company who was responsible for planning, coordinating and executing a ticketing industry conference. She mentored me and provided insight for pursuing a more marketing-focused career.
Through a series of truly serendipitous events (mainly a member of her conference staff broke their leg and my mentor desperately needed a replacement), I ended up at a trade show in Las Vegas where I met RCN’s managing director, and now CEO, Jeff Tesch.
RCN was in the process of setting up an office in Nevada, and I had the good fortune of running into one of their loan officers at the closing event. What a loan officer was doing at a ticketing conference closing party, I will never really know, but he mentioned RCN was looking for a marketing associate and, after asking me about my background, he introduced me to Jeff. Before I left Las Vegas, I had an interview lined up.
Even with limited industry knowledge, I landed the job. From that day forward, I immersed myself in the real estate investing industry, learning everything I could to succeed.
When I started at RCN Capital (which was then Rehab Cash Now), the marketing associate position had been vacant for more than three months. Most of the marketing was outdated, and plans for a rebrand were in the works.
I focused my efforts on that rebranding. I started by working with our inhouse designer to build out the look and feel of the new company, RCN Capital. I developed major print and digital campaigns centered on the change from Rehab Cash Now to RCN Capital to ensure a smooth transition.
Finally, I created a marketing mix that would ensure RCN Capital was constantly in front of its core audience to ensure customers grew to know and trust RCN as a serious player in the space. These steps were the building blocks of positioning the company as a leading nationwide private lender.
Over the next 6 years, I worked my way to director of marketing with a team of five employees. Through our marketing efforts, my team and I have contributed to the company’s growth from a regional to a nationwide lender.
With just over 50% of all closed loans in 2018 coming from leads generated through some form of external marketing, I am especially proud of RCN’s most recent milestone: funding over $1 billion in new originations since inception. With new products on the horizon and increased broker and referral partner marketing initiatives, the next $1 billion won’t be too far off.
What advice would you give to other women beginning a career in the predominantly male real estate investment industry?
My main advice is to find a mentor. A good mentor will not only help elevate your knowledge of the space, but they can also help you make important connections within the industry. Business in this industry still relies heavily on who you know and the relationships you can establish. Having someone who can speak to your skill set and open lines of communication with the right people can help grow your career and get you to the next level faster.
What do you think is the biggest challenge facing women in the real estate investment industry?
Although it has been getting better the last few years and more women have entered the space and are now in leadership positions, I still think it is difficult to be taken seriously in this industry as a woman. Even after being in the real estate investing industry for more than six years and having the title of director of marketing, I still find situations where my input is ignored or discounted. I still have cases where men will ask to speak to a “decision maker,” not accepting that I have that authority. I think our industry has a long way to go before women no longer face those types of obstacles.
What changes would you like to see made to promote women?
There should be better mentorship programs to educate young women about the industry and draw new talent into the space. Also, as much as I enjoy separate events that are focused on highlighting women in the industry, I think women should be more involved in larger scale industry events, including women as speakers. Making women an integral part of all industry events would go a long way to women being seen as the norm rather than an exception.
