Meet the Wilsons Part2 - Fergus goes mad on Radio 5

crazygaijin

PasturesNew wrote: »

But then they won't.

If it all goes tits up for them, they go bankrupt and the portfolio is gone.

But they still have two hefty teacher pensions for life.

No they will be in debt for the rest of their lives.

They will always have crediters chasing them, the banks need their money back.

This is not a game, people need to realise that when borrowing money, houses can drop 80% like they did in Japan.

You have to take responsibility for the debt.

itsallagame_2

Although I do agree with your outcome for the Wilson’s, I have to say that I believe it is a game and they have failed to play it properly like so many others.

We must remember the state writes the book and and we only read it.

You need to be careful how you interperate the rules.

kennyboy66_2

"Judith was recently appointed as visiting Professor in Entrepreneurship at Imperial College, London"

One of our best Universities for Engineering & Science.

God help us.

spuds_2

I know, I found that really depressing. I hear Kerry Katona has been appointed to the Chair of Media Studies at Warwick.

Kez100

kennyboy66 wrote: »

"Judith was recently appointed as visiting Professor in Entrepreneurship at Imperial College, London"

One of our best Universities for Engineering & Science.

God help us.

To be honest what does she actually know about business anyway?

She borrowed loads and bought places she thought would increase in value and make her a mint while repaying borrowing with tenants rent. It's hardly rocket science entrepenuership - like Branson, Sugar et al.

It was destined to simply either work or not work and outcome based purely on whether interest rates went up or down and housing market up or down. Bit like reading the form at the bookies and then deciding which horse to punt on - or not.

clobber_2

Aren't this pair of barstewards dead yet?

As for Imperial and their "chair" I hope they are ashamed of themselves.

RDB

clobber wrote: »

Aren't this pair of barstewards dead yet?

As for Imperial and their "chair" I hope they are ashamed of themselves.

The time will come when they are really in the sh.t, the writings on the wall.

What hope is there for them now? Oh maybe rents and house prices will stop falling??????????????????????

leveller2911

In December 2006 Furgus Wilson predicted his "typical" FTB houses costing £200k would in 2013 be valued at £400k ,£800k by 2020 and £1.6 million by 2027...........

Who on gods' earth would lend Him money , a lot of people including me knew this recession was going to hit, the "bubble" would burst sooner rather than later.

Furgus and Judith Wilson single handedly inflated prices in Ashford(Park Farm)which in turn made it impossible for FTB.

When its all over stability will return to the market but it will never be as He suggests.

I hope justice gets served:rolleyes:

On yourashford.co.uk He said "we have a moral and social responsibility not to sell everything and flood the market in one go"

shame they didn't think of "their moral and social responsibility" before they brought them and in so pushing up the prices for FTB

crazygaijin

Its going to be very interesting to see what happens.

How much neg equity are they in right now I wonder?

By the end of this year how much will their rental income have fallen?

How much can they actually get when they desperatley try to find buyers?

dopester

Unlike so many teachers, the Wilsons never fell out of love with the education system. In the early Nineties, however, after Mrs Wilson failed to land a headship, they quit the classroom to concentrate full time on their business.

This was the era of 15 per cent interest rates and a record number of repossessions - the perfect time to buy.
"We virtually lived in the auction rooms," recalls Mrs Wilson.

Who would want someone who expects house prices to continually double every 7 years... who promotes a Judith Wilson Bond with returns on that premise.. to have ever been head of school teaching children and guiding them with skill-sets and preparing them for the ways of the world.

Let them burn. They were gorging in the misery last time around... just feasting on other people's misery, house after house after house.

A tad recklessly, Mrs Wilson can't resist telling me about one scam her husband pulled in 1994.

After snapping up a four-storey house in South-East London at auction for £44,000, he noticed 'for sale' boards outside the property next door. So he called the estate agents to ask the price.

"It's £58,000," came the reply. Mr Wilson insisted that this was far too much, claiming he had bought the adjoining house for £30,000.

His bid was initially rejected, but a few days later, on Christmas Eve, the phone rang.

"If you've got £30,000, it's yours," the agent said.

The deliciously simple sting was concluded a few days later, when Mr Wilson had the house valued for mortgage purposes and it was deemed to be worth four times the amount he had paid: £120,000.

He borrowed the maximum amount allowable - £100,000 (85 per cent of its value) - and promptly used the excess funds as a deposit on several more houses.

During one extraordinary spell, in 2003, the tycoon teachers were acquiring a house every day, and they amassed 180 in that one year.

http://www.dailymail.co.uk/news/article-431224/How-maths-teachers-clocked-707-houses-240m-fortune.html

Let them burn. :mad: