This month's interview starts with some intriguing statements from an investor who continues to invest in the London market.
"The London market is shocking. Property prices are shocking."
Needless to say I am keen to find out why and how Elsie is still attracted to a market she describes as 'shocking'. After all I am actually sitting in one of Elsie's latest projects, a HMO in South East London with another one around the corner under refurbishment. But of course that's not where the story started.
Elsie actually started 'investing' in property in 2005 in central London, Islington to be precise. Although she is keen to point out that she didn't become a 'professional investor' until a few years later; and there is a difference. In 2005 Elsie bought her first investment property, although she already had experience in the local market after buying her residential property years earlier.
"When I purchased my first flat to live in I was very focused in buying it and I had a strict criteria for what I was looking for. As it was a residential property I guess I could be a little fussy. I wanted a maisonette (my own entrance was very important), two similar sized bedrooms, good-sized lounge and large kitchen, two bathrooms and a garden. I guess I was also a postcode snob as the property had to be in N1. It took me three months and around sixty viewings to find the property that I wanted and could afford and I got everything except for only one bathroom. I was extremely delighted with that!"