The Wilsons - 875 buy to let property empire

poppysarah

RabbitMad wrote: »

I love the way every tom !!!!!! or harry seems to know the wilson's business plans, how much they owe, how much they've paid etc

Because the data is out there. It's easy to find and they're very vocal about their activities.
And there's anecdotal evidence of them being poor landlords building into a nice case file.

GDB2222

gingin wrote: »

Today's auction price results in a Loss of £39,000 ( 32.5% ) since purchase on 31/05/2005.

etc etc etc

Whilst agreeing with your general comments, you need to bear in mind that quite often the properties that end up in the auction are the ones that are difficult to sell for some reason. Also, in general, I would expect that auctions achieve around 10% less than sales by private treaty. So, this isn't really good evidence that prices have generally fallen 32% so far. Indeed, we know from the HPI that they haven't fallen that far yet.

Conrad

RabbitMad wrote: »

I
-They may or may not owe anywhere near as much as some people seem to think,

The balance of probability is they would have had to have MEWd at a frenetic rate to aquire upwards of 50 homes per annum.
I've seen this model at work many times. A landlord atop a huge debt pile, edging into negative territory now.


Check this for a laugh - Anthea Turner and Bovey in the do do (the Wilsons in 6 months time??):eek:

http://www.mirror.co.uk/news/columnists/reade/2008/11/27/advert-shows-anthea-turner-isn-t-so-flash-now-115875-20928942/

dopester

Generali wrote: »

I'd be surprised if they were required to give personal guarantees given the size of the business. Removing the personal guarantee requirement would be an obvious way to win their business and it's pretty pointless in someone with a personal wealth that is say 1% of the value of the loan giving the guarantee anyway. OK, the bank gets a little extra back but not much really.

When Richard Branson had early cash-flow problems with Virgin Airlines... the bank manager came around banging on the front door of his home, threatening all sort of action to reclaim assets and take the business.

The banks are awakening to what they are supposed to be. To the need to get their businesses back on track. Two big-time media-loving BTL merchants, even with 900+ houses, are going to get put through the grinder if they find themselves with payment issues.

Cannon_Fodder

RabbitMad wrote: »

A couple of comments I would make are:
-I doubt they use letting agents, why give away 10%+ of the monthly income plus vat when they can do this themselves.

875 properties...if only 1% have an issue, that 8.75 properties at any one time with a dripping tap, failed boiler, paperwork query, etc etc...

Might just be doable, but they don't appear the types to put the necessary effort in.

puddy

any updates on these 2, it would make me feel better about my sad and empty, debt filled life to hear that they were in more trouble (!)

dopester

Cannon_Fodder wrote: »

875 properties...if only 1% have an issue, that 8.75 properties at any one time with a dripping tap, failed boiler, paperwork query, etc etc...

Might just be doable, but they don't appear the types to put the necessary effort in.

They probably have their own company set up for all repairs. Isn't it true they use a lot of polish workers to do the maintenance work?

I presuming their mixing with these staff is partly how they came up with their idea to profiteer directly from qualified polish / eastern European dentists who they can have running about to their tune.

The Sunday Times
April 27, 2008
Judith and Fergus Wilson

RESULTS FOR 2008
Ranking: 453=
Worth: £180m
Source of wealth: Property
A chain of dental surgeries is to be built near motorway junctions, and 1,000 eastern European dentists will be flown in to service them. It is the brainchild of husband-and-wife team Fergus, 57, and Judith, 59, who own more than 800 properties in Kent.
RESULTS FOR 2007
Ranking: 397=
Worth: £180m
Source of wealth: Property

http://business.timesonline.co.uk/tol/business/specials/rich_list/article3769724.ece

Mr Wilson said: "We are doing this to make money but we are also doing a service to the country because lots of people can't get NHS treatment.

A Department of Health spokesman said: "Despite recent scare stories, some 28million people in England already have regular access to an NHS dentist.
"If anyone, particularly if they are in pain, is having difficulty in finding an NHS dentist they should go to their local primary care trust for advice on getting urgent NHS treatment.
"But let's be clear, this company say themselves that the majority of treatment offered will be cosmetic.

It is funny how these types seem to really believe they act for the greater good.

Helping to force up prices of property buy buying over 900 houses, to rent to people who >want to rent< - or doing an honourable "service" for the country by taking advantage of skilled foreign labour. All wrapped up in ways they believe is nothing about total personal greed.

IT_nerd

Do these people not look at themselfs from outside their bubble?
They're in £150m+ of debt.
They're worse off than most people they rent to.

neas

they got one thing straight... polish dentists and builders are actually good value for mony. low cost and high quality...

Polish photorgapher did my wedding photos.... 100 quid... 160 photos very artistic. Polish Mechanic works at honda... takes a free look at my car for a few beers.

Benefit of being married to a pole.... get to pull on the polish scratch back philosophy .

Generali

neas wrote: »

they got one thing straight... polish dentists and builders are actually good value for mony. low cost and high quality...

Aren't they just like dentists and builders from anywhere else? Some are excellent, some are rubbish and the majority lie in the middle.

neas wrote: »

Benefit of being married to a pole.... get to pull on the polish scratch back philosophy .

Aussies have the same mentality. My sister-in-law had 14 people help her pack to move house!