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Elsie’s work ethic stems from her late mother who raised 4 children on her own in Islington, that all went on to gain professional qualifications and achieve great success.
Elsie’s own initial success was as a qualified chartered accountant working for the likes of JP Morgan, Barclays, and UBS, but she has spent the past 10 years focussing on her property portfolio which now includes high value apartments in Central London, student HMOs and multi-lets in the south east and professional HMOs in South East London.
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Aside from her single overseas property (see her biggest difficulty below), Elsie’s current portfolio is split between professional buy-to-lets in Islington and HMOs in Kent and South East London.
She’s also now looking at development projects in up and coming areas of London where she can repeat her HMO success but this time targeting professional tenants rather than students.
Elsie’s first investment property was her own apartment which she rented out in 2005.
In 10 years, she’s only had 3 sets of tenants and it has only been void for 1 week!
It was valued in 2005 at £240,000 and has more recently been revalued at £850,000.
In addition to her UK property investing, Elsie has also had a desire to own property abroad. She looked at a number of different developments and locations and in 2007 she came across an article from agents selling plots in Morocco and decided to proceed. She paid a 20% deposit along with a 10% stage payment before the recession hit and both the agents and developers disappeared.
The King of Morocco stepped in to avoid a PR backlash that could effect investment tourism in the country, so the building work started again and Elsie finally got her overseas property, but it was difficult to raise finance after the property crash which resulted in her having to pay the balance in cash.
What’s Your Favourite Book?
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The Slight Edge – Jeff Olson
Elsie Igbinadolor’s Links & Resources
Meetup.com/Women-In-Property-Business-Network – Elsie launched this to help other women in the property industry network and achieve success.
Facebook.com/EAPropertySolutions – Keep up to date with Elsie’s business page on Facebook