The Wilsons - 875 buy to let property empire

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Max_Headroom wrote: »

Their ideal buy-to-let is a smart two-up, two- down mid-terrace house, typically costing about £180,000.

So what are these actually selling for now?

Know that, and you'll know their chances of survival.

The estate agent in their area say that these type of houses are up for 140k now and still not selling.

With £150 million of loans, they are bankrupt in all reality now. Once they start to default if they havent already it will all collapse very quickly.

Grant Bovey when down the pan recently, I think the Wilsons will be in the news before Christmas with the same situation.

Max_Headroom_3

Just touching on that Daily Mail interview again, the other thing that amuses me is how the reporter bigs up their "wealth" as though every house they buy makes them that much richer. For example.

As former maths teachers, Fergus and Judith Wilson are wizards at mental arithmetic - and given the mesmerising rate at which they accumulate houses, this is just as well.
Take the day I met them. When we sat down to discuss their phenomenal rise from the blackboard jungle to top of the money tree, these unlikely tycoons owned 704 buy-to-let properties, worth £240 million.
Barely four hours later they had increased their portfolio to 707 houses, and their wealth by £500,000, without ever leaving the Kent hotel where we chatted over coffee.

How does buying more houses over the phone increase their wealth one jot? All the money was borrowed, and even if it weren't then their bank balance would have shrunk by the cost of their purchase. The increase in wealth doesn't occur till the house has appriciated.

Even the title:

How two maths teachers clocked up 707 houses and £240m fortune

Followed by the fact that the properies they owed were worth £240 Million:

these unlikely tycoons owned 704 buy-to-let properties, worth £240 million.

It's schoolboy mathmatics that if I borrow £180K and buy a house with it I'm not suddenly wealthy to the tune of £180K.

Absolutely bizarre.

Dithering_Dad

What I loved about the article was the reference to the Wilson's two daughters and how it mentioned they were single, as though it was a wink towards any gold digging blokes who might try and secure a fortune.

Putting aside the fact that given the Wilson's genetics, there is clearly a reason why these two girls are single; any possible suiters would be looking at the very real prospect of having their in-laws living out their retirement years in their back bedroom!

Ian_Griffiths_Halifax

Dithering_Dad wrote: »

What I loved about the article was the reference to the Wilson's two daughters and how it mentioned they were single, as though it was a wink towards any gold digging blokes who might try and secure a fortune.

Putting aside the fact that given the Wilson's genetics, there is clearly a reason why these two girls are single; any possible suiters would be looking at the very real prospect of having their in-laws living out their retirement years in their back bedroom!

Why can't I get the tune to 'Deliverance' out of my head?

Gorgeous_George

Max_Headroom wrote: »

... When we sat down to discuss their phenomenal rise from the blackboard jungle to top of the money tree, these unlikely tycoons owned 704 buy-to-let properties, worth £240 million.
Barely four hours later they had increased their portfolio to 707 houses, and their wealth by £500,000, without ever leaving the Kent hotel where we chatted over coffee.

How does buying more houses over the phone increase their wealth one jot?

Well, because they owned so many properties and with prices rising, their houses may collectively have risen by £500K but I think £22K in 4 hours is nearer the mark.

GG

neverdespairgirl

Max_Headroom wrote: »

Their ideal buy-to-let is a smart two-up, two- down mid-terrace house, typically costing about £180,000.

So what are these actually selling for now?
.

Have a look for some detailed and intellectual analysis here:

http://forums.moneysavingexpert.com/showthread.html?t=1209371&page=3

Or, more probably, have a look at my mad rambling on that page.

clobber_2

Max_Headroom wrote: »

Instead, Mrs Wilson will impart her wisdom at Imperial College, London, where she was recently appointed as an Adjunct Professor.

!!!!!! is an adjunct professor? Actually, I'm not sure I want to know. ICL has clearly gone down the bog since I was applying to university.

mjdh1957

clobber wrote: »

!!!!!! is an adjunct professor? Actually, I'm not sure I want to know. ICL has clearly gone down the bog since I was applying to university.

Maybe it's a posh term for teaching assistant?

ManAtHome

adjunct Noun
1. something added that is not essential

Edale

ManAtHome wrote: »

adjunct Noun
1. something added that is not essential

Describes the Wilsons very well, somewhat ironic eh!