Becoming a property investor in East London is hard work but can be very rewarding. It’s important to remember that if you’re looking for financial freedom, it certainly won’t happen overnight, and can take some time.
What are your goals?
Property investments across East London should take serious planning and consideration, without being rushed into. For this reason, you’ll need to spend some time thinking about your ultimate goal. If you’re looking at creating a property portfolio, you’ll need to define your long-term goals in advance. Think about why you are investing into properties and the reasons why you’re looking to maximise the value of your property portfolio.
The main goal many people aim for is to eventually have financial freedom, although your goals will vary depending on your financial situation and the number of properties and level of independence you’re looking to take on.
Take one step at a time
The best advice we can give you in maximising your portfolio is to start small. Take one step at a time so you can stay up to date with all properties, which is especially important if you’re planning to manage the properties on your own.
Start off with a smaller investment, such as a one-bedroom apartment. Eventually, you can work up to bigger investments once you’re in a positive financial position. This reduces the risk of financial losses and gives you a better opportunity to build your property portfolio over time.
Define your demographic
An important step in becoming a property investor is to understand the needs of your demographic, which is even more important to establish for London properties as some areas are an extremely niche market. Identifying the demographics of the area a property is situated in will allow you to understand the requirements of your target market. For East London properties, this would usually include rental budget, accessibility to nearby tube stations, the number of bedrooms within the property and sometimes the interior design. But we’ll go into this more later.
Once you have identified and researched your demographics, you’ll then have an understanding on which areas might require renovation or minor work. For example, apartments in Central London tend to be a very popular choice for those living in London. For larger properties that are likely to be used as a house share, it could be a good idea to separate all rooms into studio rooms, so that all tenants have their own separate space.
Managing your rentals
If your knowledge isn’t up to scratch, or you are looking to expand your existing portfolio, Franklyn James Estate Agents are here to support. With years of experience and in-depth local market knowledge, our lettings and sales team are experts in matching people with their perfect property. Franklyn James landlords and tenants are well looked after and receive an unprecedented level of service. Our dedicated, concierge-style approach to our service includes:
As a landlord with Franklyn James, you will receive a tailored range of services from our experienced lettings team, allowing you to benefit from a dedicated property manager on-site at each development we represent, a tailored marketing campaign to advertise your property to rent and our vast links with corporate companies. You can also be sure of efficient handovers, professional advice for rental legalities and even furniture installation too.
At Franklyn James we have a highly trained and qualified in-house property management team with over 20 years combined experience within the industry. Our property managers are NFoPP qualified and benefit from regular training and updates. Our dedicated management team is able to look after all aspects of management and deal promptly with any queries which may arise during the marketing of a property, or the period of a tenancy. The Franklyn James property managers are easy to talk to and they will go the extra mile to make sure your property is well looked after.
We know how important it is to keep void periods minimum, and we do everything we can to minimise them. This commitment has seen us let property in new build developments up to six months ahead of completion. To discuss your requirements in more detail, please contact us.
To speak to our property management call: 020 3668 6712.
Senior property manager
Gary Atkins
020 3668 6712
Gary@franklynjames.co.uk
Property manager
Kweku Quagraine
020 3668 6710
Kweku@franklynjames.co.uk
Assistant property manager
Linda Nwachukwu
020 3668 6711
Linda@franklynjames.co.uk
