Good Old Fergus!

Crashy_Time

Lets face it, if their portfolio was such a great earning good deal it would have been snapped up by now, it hasn`t, so that is all we need to know. They are like the people still trying to sell their house for a bubble price after ten years on the market or something :rotfl:

Crashy_Time

chucknorris wrote: »

Again you missed the point completely, I in NO WAY WHATSOEVER CLASSED HIM AS DOING SOMETHING HE LOVES (by being a landlord)! That is your idiotic interpretation, what I said was:

I don't sit in the South of France sunning myself because I have more important things to do with my life (at the moment).

That isn't because I love being a landlord (why on earth would I? I obviously do it for the profit and no other reason). I was talking about my lifestyle and raising the possibility that he also would probably have other things going on in his life. As for my circumstances, I stand by every word, I enjoy my job, I enjoy my hobbies i.e. running, cycling and swimming...I hope to complete my first triathlon next summer. I captain two chess teams, I play bowls at a reasonably good level (I usually make a few finals every year at my local club and do well in the county championships) and I have very good friends over here, I have no interest in lazing about in France, maybe Spain (winter only) in a few more years, but not yet (but I must admit that I am wavering, I like my job but it is has got to the point where I might not be able to spend what I am saving. But when I do go, it won't be about lazing about, more about hiking with my wife and dog and running and cycling in warmer climbs than here.

I said FERGUS should have better things to do if he is actually worth what people on here would like to think he is, not you. Fergus can`t seem to realise his equity though, and seems stuck in a desperate press release loop?

mayonnaise

Crashy_Time wrote: »

I said FERGUS should have better things to do if he is actually worth what people on here would like to think he is, not you. Fergus can`t seem to realise his equity though, and seems stuck in a desperate press release loop?

Man in his 40's renting a room pontificating about equity of man owning 1000 houses. :rotfl::rotfl:

chucknorris

Crashy_Time wrote: »

Lets face it, if their portfolio was such a great earning good deal it would have been snapped up by now, it hasn`t, so that is all we need to know. They are like the people still trying to sell their house for a bubble price after ten years on the market or something :rotfl:

But the fact is it that they do earn that much, in fact my post was a bit of an understatement, because many of their mortgages are on lifetime trackers. That profit will of course reduce when rates do go up, but nevertheless it will remain substantial, because although rates are eventually going to rise they aren't going to rise that much.


After making my previous post I did read that they are going to proceed selling the traditional way, so they will slowly reduce their portfolio size. They will earn less profit of course from the equity released, but they need to diversify, it is absolutely crazy to put themselves at risk, no matter how small when they are in such a strong position, and unlikely to be bale to spend it all before they die anyway.

Crashy_Time

mayonnaise wrote: »

Man in his 40's renting a room pontificating about equity of man owning 1000 houses. :rotfl::rotfl:

I think you mean "owning" don`t you ? He is just in lots of debt, he doesn`t own anything.
:rotfl:

chucknorris

Crashy_Time wrote: »

I said FERGUS should have better things to do if he is actually worth what people on here would like to think he is, not you. Fergus can`t seem to realise his equity though, and seems stuck in a desperate press release loop?

He doesn't need to release his equity to improve his lifestyle, how can you not see this? The Wilsons are overloaded with rental profit to the tune of millions per annum, they can afford what they want.


He needs to release the equity to reduce the risk of things turning against him, i.e. in the unlikely event of a crash he would be at risk, that isn't likely to happen but there isn't any point in him taking that risk on. He might as well sell a substantial part of his portfolio over the next few years, which is what he is planning to do.

Crashy_Time

chucknorris wrote: »

He doesn't need to release his equity to improve his lifestyle, how can you not see this? The Wilsons are overloaded with rental profit to the tune of millions per annum, they can afford what they want.


He needs to release the equity to reduce the risk of things turning against him, i.e. in the unlikely event of a crash he would be at risk, that isn't likely to happen but there isn't any point in him taking that risk on. He might as well sell a substantial part of his portfolio over the next few years, which is what he is planning to do.

He has been trying to sell up for about six years I believe?

Crashy_Time

chucknorris wrote: »

He doesn't need to release his equity to improve his lifestyle, how can you not see this? The Wilsons are overloaded with rental profit to the tune of millions per annum, they can afford what they want.


He needs to release the equity to reduce the risk of things turning against him, i.e. in the unlikely event of a crash he would be at risk, that isn't likely to happen but there isn't any point in him taking that risk on. He might as well sell a substantial part of his portfolio over the next few years, which is what he is planning to do.

In that case why doesn`t he just own all the properties outright, no more needing to be saved by emergency rates or being told by his credit masters that he needs to sell up, and just keep reeling in all that rent. A bit like the mantra on here of "Pay off your house and NEVER pay rent again!" but on a bigger scale obviously?

chucknorris

Crashy_Time wrote: »

He has been trying to sell up for about six years I believe?

So what? That isn't the point, the point is he has huge annual profits and equity to play with. Like anyone else he wants the best price that he can get for it, if he had sold it 6 years ago it would have been be for a lot less than he is going to get for it over the next few years.

Crashy_Time

chucknorris wrote: »

So what? That isn't the point, the point is he has huge annual profits and equity to play with. Like anyone else he wants the best price that he can get for it, if he had sold it 6 years ago it would have been be for a lot less than he is going to get for it over the next few years.

So no one wanted it six years ago when it was CHEAPER but they will want it now when it is more expensive? Is the point of BTL to get yourself as deep in the doo doo as possible? Isn`t the reality just that he isn`t going to be able to exit the market except at fire sale prices? If, as you seem to believe, he has a great lifestyle on all this never ending rent he pulls in, why wouldn`t he just pay the bank off, and lock in that income stream for the rest of his life?