Wilsons - The buy-to-let gurus' empire crumbles

Thrugelmir

phil_b wrote: »

I think these 'The death of the Wilsons' threads are going to run and run on here until people realise they arent actually going down and get bored (or embarrassed).

Without any doubt they will retire comfortably off. They are far from broke. There's a real difference between cash flow problems and having capital tied up in assets. Worth remembering that they had the idea a long long time ago. So have truly benefited from HPI. Something more recent speculators aren't going to benefit from.

chucky

Thrugelmir wrote: »

Tip 2. Make sure you can obtain the finance first as a Limited Company before committing to a purchase.

Tip 3 - Don't eat yellow snow

SmartPricePrincess

Hard work pays off in the future, laziness pays off now.

Lotus-eater

I'm interested in Mr Wilson saying 'We have spoken to all our lenders, and we have decided to enter management agreements. It is the only way for us to be able to retire. I don't want to be rung up every day by someone complaining about a dripping tap.'
That just doesn't make any sense. Why could he not just employ someone to do that for him, His business is big enough and should be making enough profit, supposedly.
He doesn't have to run it himself to have a profitable business.

But if he was forced into it.... it might be something he might say to save face,

dopester

Lotus-eater wrote: »

That just doesn't make any sense. Why could he not just employ someone to do that for him, His business is big enough and should be making enough profit, supposedly. He doesn't have to run it himself to have a profitable business.

But if he was forced into it.... it might be something he might say to save face,

It really doesn't make sense to me either.

Some of their properties falling short with rent to mortgage, not finding the money from the landlord business they run, or out of capital put aside, lenders making special arrangements to switch them from fixed rates.... yet enough money to have runners entered at Cheltenham and Aintree, and to go and have another few jolly days out.

Wilson insists these arrangements are being entered into ' voluntarily' and 'with no compulsion' from lenders. He says that only 15 per cent of the properties do not yield enough rent to cover their mortgage bills. 'We have looked at the most sensible way forward,' he said.

'We have spoken to all our lenders, and we have decided to enter management agreements. It is the only way for us to be able to retire. I don't want to be rung up every day by someone complaining about a dripping tap.'

Malcolm.

Why is everyone infatuated with the wilsons.

Are you all intending to buy one of their properties?

chucky

Malcolm. wrote: »

Why is everyone infatuated with the wilsons.

Are you all intending to buy one of their properties?

it's beyond me too

they're not the nicest people but don't understand the fascination

Malcolm.

chucky wrote: »

it's beyond me too

they're not the nicest people but don't understand the fascination

People taking enjoyment from watching the failurof others rather than focusing on their own success.

The opiate of the bears.

chucky

Malcolm. wrote: »

People taking enjoyment from watching the failurof others rather than focusing on their own success.

The opiate of the many bears.

yes - schadenfreude at it's best

Mr.Brown_4

Malcolm. wrote: »

Why is everyone infatuated with the wilsons.

Are you all intending to buy one of their properties?

No, of course not. But going to enjoy each and every thread charting their downfall. It's a classic rags to riches, and back again story - plus the bonus of being a symbol of the ridiculous HPI years - InsideTrack, Bovey, Wilsons, etc.

What I don't understand is people who have no interest coming on every Wilson thread saying they are not interested.