Welcome to my world!
Hello there! If you’re reading this, I know we share a common interest and passion – property investment! I don’t know about you, but my long-suffering husband is thinking of sending me to Property Investors Anonymous for some therapy as he thinks I’m becoming a little bit too obsessed with this game. Well, who can blame me for being passionate about property when it has afforded me so many choices, not to mention financial freedom and independence (vital for all women, don’t ya think)? The purpose of this blog is to share that passion with fellow property-a-holics by recording the daily trials and tribulations of being a Landlady. I’d like to be to property investing what the Spice Girls were to Girl Power: in other words, making things very accessible to all. Zig-a-zig ahhhhh! (Men are welcome too!).
When it comes to property investing, you definitely need Attitude with a capital “A”, as it takes drive and determination to be successful. This is more important than talent or aptitude, exactly as was the case with Posh and friends! And successful property investing could certainly help you achieve a pop star’s lifestyle – but that’s a mid to long term view, and one that I’ll share with you another time.
Let’s get down to the nitty gritty: No one day in this game is the same, other than my day starts by greeting my postman with some friendly banter about why I’m still in my pink fluffy dressing gown and slippers at 11.30 in the morning. To be serious though, what he’s got in his sack (figuratively speaking!) will have a huge impact on the how the rest of my day pans out. Postie Pete can be the bringer of fantastic news, such as a re-mortgage completion statement, or the bringer of bad news, such as a service charge invoice. It’s all a lottery and after I’ve seen the postman off with a friendly wave and ripped open my post like a rabid terrier, I’ll either be cursing to high heaven, or doing a little dance of joy – behind my net curtains of course. Then there will be a flurry of emails and phone calls before I break for my lunch at 12.30.
My afternoon is spent doing ... stuff. More phone calls, more emails, more sorting out issues with different properties. Plus, of course, I’ve always got a new property going through conveyancing and there are forms to be checked and signed. Sigh.
It’s interesting that when I reflect on my day, as I sit with a warming cup of cocoa of an evening watching repeats of “Location, Location, Location”, I know I’ve been incredibly busy, but I couldn’t exactly tell you what I’ve been up to. Therefore, I thought that if I write my diary, it will help me to realise and appreciate for myself what each day has achieved. After all, property is a constant learning experience and, as my husband likes to quote on occasion, there is no “win or lose”, only “win and learn”. He’s very profound sometimes, is my husband.
But to conclude my debut blog release, a little potted history of myself. I’ve been a Landlady for just over three and a half years now and have loved every minute of it. On occasions, it has been challenging, but the rewards far outweigh the downsides and it certainly beats the 9 – 5 rat-race. After 15 years of impersonating a sardine on the London underground daily commute, its sheer joy to wake up at 9.30 a.m. and listen to the distant symphony of the rush hour traffic hurtling up the A3 to London. I then turn over for another 30 minutes lie-in safe in the knowledge that I dance to my own tune now.
My portfolio consists of a large number of apartments in North and East London, and an equally large number of houses dotted around the country. I treat my properties as a business, and therefore I regard my properties as my “employees”. And believe you me, they are the best employees you could ever wish to have!. They work 365 days a year, come rain or shine, making me money through cash flow from the rent and capital appreciation. They never ring in on a Monday morning after a boozy weekend and try to pull a sickie, they never go on holiday, and they never go on strike. They make money for me while I am asleep, while I am reclining on a beach in Cyprus, while I am having my hair and nails done and my legs waxed .... . Unlike me, my properties never stop working.
And if my properties are like my employees, then my tenants are my “clients”. Therefore, I treat my clients with the utmost respect, so that they stay in my properties as long as possible, servicing my mortgage debt through the rent. I love all my tenants dearly and look after them! Why only this week, my tenant in one of my one bed flats in Highbury, North London asked me if it might be possible to put a sofa bed in the lounge so that her Mum might come and stay occasionally. “No problem”, I said “consider it done”. A quick phone call to my letting agent, Adam, and it was. (Don’t you just love IKEA? I’m starting to know the product codes now – seriously worrying my husband with that!).
Meanwhile, another of my tenants had put up with a lot of snagging issues in one of my new apartments, so to thank them for their patience while it was sorted out (which was a fair bit of hassle), I sent them some M & S vouchers for their trouble. Happy clients/tenants put down roots and by keeping an open and honest communication with them, I minimise my turnover and also any problems, such as non-payment of rent. Tenants are wonderful people – respect them and they will respect you and your property. That’s my philosophy anyway! That’s the great thing about property investing and being a Landlady – do it with your own style – it’s all about you!
Well, its nearly time to go and watch “A Place In The Sun”, so I’ll sign off now .... I really want to feel connected to you, dear readers, so spice up your property investing life by signing up for my blog and learn through my experiences, both good and bad. Remember, “you can never learn less” – another of his indoors profound sayings.
Until next time, happy investing ... Toodlepip ....
