The Wilsons - 875 buy to let property empire

HelpWhereIcan

Dithering_Dad wrote: »

Methinks that they quite like being 'lord of the Manor' and so invested in that small area. Perhaps they even enjoy the resentment?

Or perhaps they have done what all 'property investors' should do. Stick to an area and market you know, do your own due diligence and make sure you can manage the portfolio.

There are many south east based investors selling property that they bought up here because anything under £250,000 sounded cheap (let alone a whole house for £50,000!!).

The locals laughed when they bought flats in the city centre for huge amounts because they expected huge (for the area) rentals to cover the mortgage.

They are the people that will suffer most in this market - not the Wilsons.

Stick to what you know folks or - if you don't - at least make sure you do some homework and look at the property you are buying.

HelpWhereIcan

neverdespairgirl wrote: »

I don't see it like that. I don't really see that they have "bettered themselves" in any real way. Just made some money.

money does not make the man, but then again it makes it easier for the man to be the person he could be... should he choose to.

Dithering_Dad

Edale wrote: »

I do care that people who have made it then promote their success in a very one sided way perhaps encouraging less able people to take risks they shouldn't. I believe they should be happy with the fruits of their labour and not seek the publicity.

I remember an episode of the Tonight program years ago where Martin Lewis was comparing the returns from investing as opposed to BTLing. He had stopped paying into his pension and instead invested in several BTLs. He then went to see a financial advisor who told him that the rises in the property market far outstripped the rises in the stock market and that his BTL investments had made £10's of thousands more than they would had he invested in a traditional pension.

How many people saw Martin's success on that program and jumped onto the BTL bandwaggon? How many are now ruing that decision? Should Martin have been happy with the fruits of his labour and not have made that TV program?

To take this further, should Alvin and the rest of the TV financial advisors stop publicising their success and the success of their clients? Should investment funds stop promoting the success of their investments?

No, I'm sorry but the only reason I can see why people care if the rich flaunt their wealth and success is simply due to jealousy. I couldn't give a monkey's about the Wilson's or Richard Branson or Premier Footballers - I'm too busy sorting out my own finances and living my own life to worry about someone else's.

brightonman123

was this couple featured on a property programme, where they offered much less than asking price for a house in a street, in which they already had half the houses! seller not that happy, but had to sell, and they had the ££ to do quick deal.

Dithering_Dad

neverdespairgirl wrote: »

I don't see it like that. I don't really see that they have "bettered themselves" in any real way. Just made some money.

Depends what they had to do to make the money. I'm assuming that the Wilson's and anyone else who starts a business does a certain amount of research into investments, taxation, financial strategies. Gaining knowledge can be perceived at 'bettering themselves'. I'd certainly say I 'bettered myself' by my stint at University and I dare say that most people would feel the same.

By gaining wealth, we make our lives more comfortable and we can afford to send our kids to better school, we don't have to live in rough crime-ridden areas and we can afford to send our kids to university. By seeing success our kids will generally have greater aspirations for themselves. This could be perceived as 'bettering yourself' (and your children).

MissMoneypenny

Dithering_Dad wrote: »

Many millionaire "go-getter's" have been bankrupted, some several times, before they made their money.

I read on the bankruptcy board, that you can only be bankrupt once now. A bank went to court to get the ruling.

Dithering_Dad

brightonman123 wrote: »

was this couple featured on a property programme, where they offered much less than asking price for a house in a street, in which they already had half the houses! seller not that happy, but had to sell, and they had the ££ to do quick deal.

If the seller wasn't that happy about selling then they could have turned down the offer and sold to the countless FTB's who must have been clamouring for properties in that area.

Instead they wanted quick cash and were happy to take it from the Wilson's.

Jimuth

brightonman123 wrote: »

was this couple featured on a property programme, where they offered much less than asking price for a house in a street, in which they already had half the houses! seller not that happy, but had to sell, and they had the ££ to do quick deal.

What would ppl's perception of the Wilsons be if

1. they were good landlords
2. they were a force for good in their local area - e.g. providing for a hospital, school etc. in the altruistic style of victorian industrialists etc.?

My problem with them is its wealth for wealth's sake. It's just so BORING..!

MissMoneypenny

Dithering_Dad wrote: »

By seeing success our kids will generally have greater aspirations for themselves.

I'm not sure that that is true. Often children from financially successful parents, turn to drugs. Children that have had to fight their way to the top and make it on their own, often have a greater feeling of self worth.

Dithering_Dad

MissMoneypenny wrote: »

I read on the bankruptcy board, that you can only be bankrupt once now. A bank went to court to get the ruling.

That's incorrect. You can be declared bankrupt many times. Normally when you're declared bankrupt the order is discharged after 1 years. Those who declare bankruptcy twice within a fifteen-year period will only have the order discharged after five years and even this requires applying to the Court.