Being in love with history, architecture and many of the palaces, monasteries and historic places she visited while on vacation as a child in Portugal, Lorraine has always had a love for all things related to real estate. Thanks to her uncle Mario who would take a week off every summer when she visited Portugal, her eyes were opened to amazing structures that were built as early back as 1100 AD. Lorraine was always fascinated at what people were able to construct and create all those centuries ago without the modern conveniences and tools of the 20th century.
She didn’t just walk through these places as a tourist, she would always look further and take a deep look at the construction, the curves of the flying buttresses, the stained glass windows, the intricacies of the features on many of the stone carvings and when available, the furnishings of the era. She would oftentimes stand there and try to imagine how the people lived in these residences all those centuries ago.
Today, Lorraine fosters community by building a strong network of real estate-focused professionals. Clients and investors alike rely on her sharp eye for cost and value in an ever-changing market. Other real estate agents value Lorraine as a trusted mentor. She’s the founder and leader of WIRED – Women Investing in Real Estate Dominate, an organization that empowers women in real estate to achieve their real estate investing goals and live life on their terms.
Through Lorraine Beato International, Lorraine is an advocate and consultant to descendants of immigrants in Portugal who have inherited properties. Many need to go through the probate process or need help deciding the best way to sell or renovate the property to keep their family’s legacy just as she did.
Image Credit To : Courtesy, Manhattan College
When she wrapped up her first year of college a family friend approached her about working for Merrill Lynch on Wall Street in the summer as he was looking for some college temp workers. She decided to give it a shot. She will never forget her first day at Merrill Lynch when her boss sat her down with a piece of paper and pen and said “this is the birth of a Ginnie Mae” as he proceeded to draw out the process of mortgages and how there were pooled and sold as securities.
He also taught her how important it is to work in a field you love and not just because you have a job. Lorraine loved the energy and fast-paced environment of working on the trading floor and she continued on every summer and was hired full time after graduating.
Real Estate Beginnings
Graduating in 1988 from Manhattan College with a BA in Economics and International Relations and working full time for Merrill Lynch, her best friend asked her to join her in a real estate licensing class. So about 3 weeks after graduating from college, off they went, took the class and became licensed REALTOR®s in May 1988. After working for Merrill Lynch she spent some time working for a small Brazilian Bank on the investment banking side and foreign exchange trading.
She was bored at the Brazilian bank, quit and as a referral started working for an internationally well known business man, Adnan Khashoggi who in the mid 1980’s was dubbed “The Richest Man in the World” Lorraine became exposed to international business and real estate deals and was enthralled with all the residences which Mr. Khashoggi owned. As AK’s personal executive assistant, she was heavily involved in his dealings including the sale of AK’s mega yacht The Nabila to Donald Trump in 1989. Real estate has always been a constant thread in Lorraine’s life albeit in different ways.