064 – Real Estate Investing Strategies for Financial Independence | Ed
Hello! Today we will talk with Ed from the UK, and we will dive deep into how to build a real estate portfolio, strategies, how to behave as a landlord and much more. Sit back, relax and enjoy!
We also talk about:
- Investing strategies
- Diversifying a property investment portfolio
- Finding the right business partner
- UK taxes on properties
- Investing in different areas of England
- Self-analysis paralysis
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Building a real estate portfolio
Ed is 28 and has been on the path to FI since about five years, although he was exposed to frugality long before by his family: in the same way, he learned very early that a great amount of wealth can be made from real estate investing, and since when he was 18 he decided to educate himself and build a plan to rent real estate properties and eventually become financially independent. Later he came in touch with stock market investing, and he realized that more than becoming rich, what motivated him was to actually own his time: his journey to FI definitely took off.
How to behave as a landlord
In their career as real estate owners and landlords, Ed and his business partner have learned that taking care of the quality of life their tenants can have living in their apartments is a better long term approach than trying to maximize income by squeezing more people in the same space regardless of their well being. They thoroughly vet all their tenants and have a very good relation with them, and this is key to the health of the business: of course this becomes more difficult as the number of properties increases.
A real estate portfolio for financial independence
Ed and his business partner don’t have a set goal regarding the number and type of properties to have in their portfolio in order to reach FI. One thing they have clear is the importance of diversifying property types: not relying only on HMOs, flats or else, and also diversifying the areas of investment, as different trends can be in action in different parts of the country, leading to growth phases and cycles that have to be taken into account. Ed gives plenty of examples of the current UK situation he operates in.
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