The Wilsons - 875 buy to let property empire

scousethife

[quote=Max Headroom;15071645


But when it comes to the property game, Fergus and Judith Wilson are in a class all of their own.[/quote]

Aye special needs class

MissMoneypenny

This writer seems to agree with you scouselife

"Fergus Wilson has been the scorn of the racing press over the years and certainly the owner is either deranged, deluded or just plain stupid."


"Fortunately Fergus Wilson claims to be retiring when he is 60, in a few weeks time. Not many people in racing will be sending him a birthday card but everyone will be pleased to see the back of this menace.

It is more likely that Fergus Wilson's property portfolio, made up of residential properties in Kent and Ashford is ailing.Wilson bought hundreds of buy-to-let properties on interest-only mortgages in his hometown of Maidstone and Ashford. It is likely as the tide has turned against him in his business he is scaling back through necessity rather than "retirement". Fat Fergus Wilson was the subject of a TV expose on bad landlords. He is certainly a terrible racehorse owner, and like many of his tenants, racing will be be happy to see the back of him."
"


http://www.epsomderbybetting.net/EpsomDerbyBettingNews/EpsomDerbyBetting_FergusWilson.htm

Ian_Griffiths_Halifax

:rotfl: What's he been doing to upset the racing elite? Don't tell me he's been buying up all the stables and renting them out.

MissMoneypenny

Max_Headroom wrote: »

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

I wondered about which subject she would lecture on:-

"Judith was recently appointed as visiting Professor in Entrepreneurship at Imperial College, London University of Greenwich, and lectures there from time to time."

They seemed to enjoy being well known:-

"Judith and Fergus Wilson are now nationally-known figures with a property portfolio of 850 houses, mainly in Maidstone, Ashford and Hawkinge. Their activities are constantly recounted in the local and national newspapers, as well as on radio and television."

http://www.gullands.com/news/view/129/Buy-to-Let-millionaires-Choose-Gullands

RDB

Just wondered if anyone has up to date info?

I am dying to see what will happen in the end for the Wilsons.......

baileysbattlebus

The Wilsons, both 60, say that it was always their intention to start selling when they reached 65, but after the changes in capital gains last April, which reduced the maximum rate from 40% to only 18%, it makes sense for them to start selling now.
'We are not going to sell all at once,' says Fergus, referring to a portfolio worth £250m. 'That would collapse the entire market in Ashford and Maidstone. We have even got to be careful to avoid selling clusters in the same street.'
The Wilsons have not been immune to the credit crunch and Fergus admits that they have lost a couple of million over the past three months.
But unlike thousands of me-too buy-to-let investors, the Wilsons never touched new-build flats, a saturated market where prices are plummeting.
'All our properties are houses, with a bit of grass and parking,' says Fergus. The starter home market was always their exit strategy and first-timers would overwhelmingly prefer a house to a flat. 'You cannot get people to buy jam tarts if they want cream doughnuts,' adds Fergus with a Forrest Gump flourish.
The Wilsons claim the prices of their homes have been static for the past three months, but estate agent Glen Wright, of Martins in Ashford, reckons they have plummeted 20% in the past year. He says: 'Two-bedroom resale houses priced at £165,000 a year ago now sell for £140,000 - if you are lucky. The market is paralysed.'

The Wilsons are interesting - 910 properties and if they are all occupied and only make £10 proft a week each the income from that would be

£9k per week
£39k per month
£473k per year
Even if half of them were empty - which I doubt - it's still very nice.

smartn

baileysbattlebus wrote: »

The Wilsons are interesting - 910 properties and if they are all occupied and only make £10 proft a week each the income from that would be

£9k per week
£39k per month
£473k per year
Even if half of them were empty - which I doubt - it's still very nice.

And on the flip side if they only make £10 loss a week on each????

baileysbattlebus

smartn wrote: »

And on the flip side if they only make £10 loss a week on each????

you're right of course - silly me

GDB2222

I rather fear that the interest rate cut might be in time to rescue the Wilsons.

ad9898_3

GDB2222 wrote: »

I rather fear that the interest rate cut might be in time to rescue the Wilsons.

I don't think so, they were Bradford and Bingley customers, so no chance of remortgaging through them, I believe they have many at 4.5% 5 year fixed rates from 2003, these are really going to hurt.

No bank in their right mind are going to take them on, they are a shoe-in for bankruptcy, I think we will be hearing from the Wilsons in the next 3 months..... bust.