The Wilsons - 875 buy to let property empire

Dithering_Dad

carolt wrote: »

So why are you wasting time here then, if it's so notoriously dreadful and pointless?

Is it some hair shirt thing?

Hi caroll/!!!!!!?,

Pure entertainment I'm afraid. It's quite amusing to see all the discord and to watch the arguments unfold (of which you seem to at the centre of many). I joined MSE to sort out my finances and in the first year of being on here, I did just that:

1. Paid off all my debts and set up a mortgage overpayment support group to pay down our mortgages - this is going well with 132 members and a total of £1.5M of mortgage debt repaid. I've personally repaid over £37k of mortgage debt since April 2007.

2. Set up pensions for myself and Mrs Dither, using advice and info from the pensions board. This is going well with a combined 100k of pension savings so far (and we're only in our thirties, so quite chuffed with this amount as it has a further 3 decades to compound).

3. Put away £18k of emergency savings and tax savings into my offset account, with a further £30k in my company to cover 'dead' periods and corporation tax.

4. Examined all of my monthly outgoings (utilities, insurance, etc) and from information gleaned from MSE I reduced my outgoings by £300 per month, which i now pay into my wife's stakeholder pension.

Basically, I've reached that point financially where everything is in place and all I need do is sit back and let time take its course. Bit boring really, so I entertain myself and pass time on the housing boards, reading the posts from your many usernames.

stressed24

Seeing this makes me angry!
Having been a tenant and living in hell, they literally have no respect for who makes their money!
Scared to move through fear of unfairly loosing deposit (really can't afford that) but the thought of staying brings me to tears. I am scared to be more specific as I have heard that one tenant got evicted for complaining to much! How does one take on such a big force when even letting agents fear them?
Please Help!
This was meant to go The article about Mr and Mrs Wilson but can't figure out how to do that!

GDB2222

stressed24 wrote: »

Seeing this makes me angry!
Having been a tenant and living in hell, they literally have no respect for who makes their money!
Scared to move through fear of unfairly loosing deposit (really can't afford that) but the thought of staying brings me to tears. I am scared to be more specific as I have heard that one tenant got evicted for complaining to much! How does one take on such a big force when even letting agents fear them?
Please Help!
This was meant to go The article about Mr and Mrs Wilson but can't figure out how to do that!

What people usually do who are scared of unfairly losing their deposit is to just not pay the rent for the last month. Of course, the Wilsons may pursue you through the courts, but you can always settle with them, and you are in a much stronger position than if they held your deposit. Be sure to take a video/photos of the interior of the property and give the right notice period etc.

dopester

It looks like they are finished in horse racing, and the flush bet back in 1998 won't make him the million he wanted to collect.

And now maybe they are jumping on the bandwagon of profiting from Polish dentists. How did that idea came about. Don't they have Polish handymen to fix problems in their houses? Brilliant. A person trains for years in a specialist field, but takes the Wilsons to master how to profit from it.

I'd rather they just stuck with their existing master-plan, of kicking back, buying more houses, and watching their portfolio double in value every 7 years.

The Sun

FERGUS WILSON, owner of today’s 1,000-1 St Leger no-hoper Maidstone Mixture and many other similar big-race outsiders, has had enough. The retired Kent maths teacher and his wife Judith are estimated to be worth £180 million thanks to their buy-to-let property business. Their latest brainchild is to import Polish dentists to counter the NHS shortage.

Their no-hopers have left us all open-mouthed but it could soon be farewell to Fergus in big races.

He said: “I shall not even be at Doncaster. You wrote the first story about me in 1998 when I had £4,000 on at 250-1 that I would own a Grand National winner.

“I stood to win £1m but I don’t think it will ever happen. We will NOT be buying any more young horses. I always said I’d give it 10 years."

Wilson will go down in turf history as the owner who always aimed for the stars ... and seldom even saw his horses finish.

This year Wilson’s no-hopers have been the usual disaster:

pickledpink

I don't know why people are so obsessed with the Wilson's...............even if they've lost 50% of thier equity they're still multi-milionaires!:p

Get over it!!

mewbie_2

pickledpink wrote: »

I don't know why people are so obsessed with the Wilson's...............even if they've lost 50% of thier equity they're still multi-milionaires!:p

Get over it!!

That's brilliant. You rubbish the idea of obsession with the Wilsons in an ironic way (knowing they're the most hated couple in the country) and at the same time bump the thread back up to top spot.

And now look what! Almost as funny, I've bumped it as well!!!!

Not that I could compete with you in the funny stakes. Keep 'em coming PP.

sarkin

bumpty bump bump

pickles110564

Dithering_Dad wrote: »

Hi caroll/!!!!!!?,

Pure entertainment I'm afraid. It's quite amusing to see all the discord and to watch the arguments unfold (of which you seem to at the centre of many). I joined MSE to sort out my finances and in the first year of being on here, I did just that:

1. Paid off all my debts and set up a mortgage overpayment support group to pay down our mortgages - this is going well with 132 members and a total of £1.5M of mortgage debt repaid. I've personally repaid over £37k of mortgage debt since April 2007.

2. Set up pensions for myself and Mrs Dither, using advice and info from the pensions board. This is going well with a combined 100k of pension savings so far (and we're only in our thirties, so quite chuffed with this amount as it has a further 3 decades to compound).

3. Put away £18k of emergency savings and tax savings into my offset account, with a further £30k in my company to cover 'dead' periods and corporation tax.

4. Examined all of my monthly outgoings (utilities, insurance, etc) and from information gleaned from MSE I reduced my outgoings by £300 per month, which i now pay into my wife's stakeholder pension.

Basically, I've reached that point financially where everything is in place and all I need do is sit back and let time take its course. Bit boring really, so I entertain myself and pass time on the housing boards, reading the posts from your many usernames.

Well done DD, it is good hearing about a success case instead of all the drivel from !!!!!!? & Carolt

PasturesNew

pickledpink wrote: »

I don't know why people are so obsessed with the Wilson's...............even if they've lost 50% of thier equity they're still multi-milionaires!:p

Get over it!!

I'd have thought that to get so many properties in such a shortish period of time, they'd have been using the full ability to leverage up to the eyeballs and max out their portfolio worth to a full 85% all the time.

So, max out to 85% of portfolio value, buy more property
Prices rise
Max out to 85% of portfolio value again, buy more property

Always maxed out to 85%.... until there is a 10-15% downturn.

At which point they are then 100% maxed out... uh-ho

Run out of rabbits to pull out of the hat ...

PasturesNew

You're a rich buggah aren't you

Dithering_Dad wrote: »

1. personally repaid over £37k of mortgage debt since April 2007.

17 months, £37k, blimey, that's over £2k a month EVERY month that you never needed. Blimey.

Dithering_Dad wrote: »

2. Set up pensions for myself and Mrs Dither, using advice and info from the pensions board. This is going well with a combined 100k of pension savings so far (and we're only in our thirties, so quite chuffed with this amount as it has a further 3 decades to compound).

No idea how much you paid in, but more money you didn't need. And a huge pot (I have £0 pension)

Dithering_Dad wrote: »

3. Put away £18k of emergency savings and tax savings into my offset account, with a further £30k in my company to cover 'dead' periods and corporation tax.

Blimey, ANOTHER £18k you didn't need!!! Crikey.
And ANOTHER £30k

Dithering_Dad wrote: »

4. Examined all of my monthly outgoings (utilities, insurance, etc) and from information gleaned from MSE I reduced my outgoings by £300 per month, which i now pay into my wife's stakeholder pension.

You 'saved' the amount I start with to live from after rent on a bedsit and basic bills


So .... what do you do for a living? You've got what, £5-6k a month EVERY month that you just don't need??? Crikey.