Good Old Fergus!

chucknorris

triathlon wrote: »

How do you how he treats his tenants?
How do you know it's not a couple of bitter tenants which he is sure to get with all those people he homes. You just have to read on here the self entitlement, bitterness and anger to know what these losers are like and what they stoop to.
The fact is there are a sizeable group of people in the UK who just do not have what it takes to last out a 25 year mortgage, and some look at others rather themselves when getting bitter about it.

Because of the way that he has acted and what he has said himself (not so much what his tenants have said, so their possible bitterness or anger isn't a factor), and also a tv programme about him (it was so long ago, so I can't remember the exact details).

Fergus isn't a major thing to me, in fact, he is irrelevant, I don't really care that much about him, but it happens to be my opinion, and since there is a thread about him, I posted my opinion, otherwise I wouldn't have bothered. Just because he is a fellow landlord, I don't feel any affinity with him, as I also wouldn't if he was a fellow chartered surveyor or university lecturer. There is good and bad in every profession, business or walk of life. I really don't understand why you feel the need to defend him.

Crashy_Time

chucknorris wrote: »

I've no doubt that some new landlords (and some that recently mewed to expand) will be badly hit, but bears like him and Crashy seem oblivious to those that invested a while ago are completely safe. Including Fergus Wilson (for the record I don't like him because of the way that he treats his tenants).

Unless their tenant base goes back home that is, then it doesn`t matter how long ago they paid off the mortgage, they still have a money pit to service with no chance of selling without a good price drop.


https://www.estateagenttoday.co.uk/breaking-news/2018/8/warning-of-a-correction-to-come-and-dont-buy-property-at-peak-price



https://www.property118.com/eastern-europeans-leaving-uk/

chucknorris

Crashy_Time wrote: »

Unless their tenant base goes back home that is, then it doesn`t matter how long ago they paid off the mortgage, they still have a money pit to service with no chance of selling without a good price drop.


https://www.estateagenttoday.co.uk/breaking-news/2018/8/warning-of-a-correction-to-come-and-dont-buy-property-at-peak-price



https://www.property118.com/eastern-europeans-leaving-uk/

Investors that invested back when I did are in a position where their financial strive was over a long time ago Crashy. I don't know why you think property is a 'money pit', from my tax return:

£83, 104 rental income

£6,118 repairs, maintenance and renewals
£4,857 finance charges, incl interest
£868 other expenses

£71,261 taxable income

My wife's properties have even better ratios, because apart from one property that we jointly own, she has no mortgages.

triathlon

chucknorris wrote: »

Because of the way that he has acted and what he has said himself (not so much what his tenants have said, so their possible bitterness or anger isn't a factor), and also a tv programme about him (it was so long ago, so I can't remember the exact details).

Fergus isn't a major thing to me, in fact, he is irrelevant, I don't really care that much about him, but it happens to be my opinion, and since there is a thread about him, I posted my opinion, otherwise I wouldn't have bothered. Just because he is a fellow landlord, I don't feel any affinity with him, as I also wouldn't if he was a fellow chartered surveyor or university lecturer. There is good and bad in every profession, business or walk of life. I really don't understand why you feel the need to defend him.

Because I am doing exactly what you are doing, the thread was started and I am just posting an opinion. And the big difference say with Fergus and those claiming online to be high flying BTL landlords with David Becham lifestyles is that he is the real deal and does not mind putting his face to the product, and defends and supports us real BTL LL's in the process.

chucknorris

triathlon wrote: »

Because I am doing exactly what you are doing, the thread was started and I am just posting an opinion. And the big difference say with Fergus and those claiming online to be high flying BTL landlords with David Becham lifestyles is that he is the real deal and does not mind putting his face to the product, and defends and supports us real BTL LL's in the process.

I don't think I have noticed anyone claiming to be a landlord with a 'David Beckham lifestyle', who are you talking about?. I wouldn't know much about a DB lifestyle, it is the simple things in life that seem to please me most.

I really don't see him as supporting and defending other landlords, I've only really noticed him being an embarrassment to himself. Just as well that I don't feel the need to be defended and supported, I simply invested in an asset that produced a good return, it is/was as simple as that.

EDIT: But we can agree on something, I don't disbelieve that he is extremely rich, like some on this thread have said. That I think that is just jealousy and/or bitterness getting the better of some posters.

Crashy_Time

chucknorris wrote: »

Investors that invested back when I did are in a position where their financial strive was over a long time ago Crashy. I don't know why you think property is a 'money pit', from my tax return:

£83, 104 rental income

£6,118 repairs, maintenance and renewals
£4,857 finance charges, incl interest
£868 other expenses

£71,261 taxable income

My wife's properties have even better ratios, because apart from one property that we jointly own, she has no mortgages.

I said money pit if they have voids for any length of time, and I meant THEY, landlords generally, not just you :rotfl: You are far too involved at the ego level in all this to be able to think objectively about the arguments IMO, you just refer everything back to yourself and your own situation, and take everything as a personal attack on you Most people didn`t buy BTL as far back as you did, the mania for it started far later, and many of those landlords are not in your situation. THEY make the market, not you! (or the guy with the imaginary 250 mill in the bank :rotfl:)

chucknorris

Crashy_Time wrote: »

I said money pit if they have voids for any length of time, and I meant THEY, landlords generally, not just you :rotfl: You are far too involved at the ego level in all this to be able to think objectively about the arguments IMO, you just refer everything back to yourself and your own situation, and take everything as a personal attack on you Most people didn`t buy BTL as far back as you did, the mania for it started far later, and many of those landlords are not in your situation. THEY make the market, not you! (or the guy with the imaginary 250 mill in the bank :rotfl:)

Voids are not as common as you might think Crashy, I had my first real void this year (about 2 months), that is one void in 27 years with multiple properties.

Also I limited my response to landlords that did invest a long time ago:

chucknorris wrote: »

but bears like him and Crashy seem oblivious to those that invested a while ago are completely safe.

To be correct, you did not say voids, you merely implied it, but as I demonstrated from my figures, rents can be dropped in a falling rental market and yet still remain very profitable.

Crashy_Time

chucknorris wrote: »

Voids are not as common as you might think Crashy, I had my first real void this year (about 2 months), that is one void in 27 years with multiple properties.

Also I limited my response to landlords that did invest a long time ago:



To be correct, you did not say voids, you merely implied it, but as I demonstrated from my figures, rents can be dropped in a falling rental market and yet still remain very profitable.

As I did say most landlords bought more recently than you and are much more exposed to voids, falling rents and rising rates. THEY make the market, not you and the small band of pioneers who by luck of their birthday got to surf the biggest credit wave in history. I don`t want to see you unprofitable, I don`t want to see you unhappy, I do want to see economic reality running rampage through the UK property market though

chucknorris

Crashy_Time wrote: »

As I did say most landlords bought more recently than you and are much more exposed to voids, falling rents and rising rates. THEY make the market, not you and the small band of pioneers who by luck of their birthday got to surf the biggest credit wave in history. I don`t want to see you unprofitable, I don`t want to see you unhappy, I do want to see economic reality running rampage through the UK property market though

This is pointless Crashy, we are going around in circles, lets just end it here. My original point was not about 'most landlords' it was about landlords who bought a while ago. So we were not discussing 'most landlords'. I completely accept that recent tax changes are a 'game changer' for new and potential new landlords. In fact, I have posted quite a few posts saying so, with both the reasoning and the maths. But (sorry to sound uncaring), I'm not really worried about new landlords, I invested for profit, not to be a member of some sort of landlords empathy club.

Crashy_Time

chucknorris wrote: »

This is pointless Crashy, we are going around in circles, lets just end it here. My original point was not about 'most landlords' it was about landlords who bought a while ago. So we were not discussing 'most landlords'. I completely accept that recent tax changes are a 'game changer' for new and potential new landlords. In fact, I have posted quite a few posts saying so, with both the reasoning and the maths. But (sorry to sound uncaring), I'm not really worried about new landlords, I invested for profit, not to be a member of some sort of landlords empathy club.

Ok, but lets finish on that comedy golden thread when you guys thought that the big man actually had got out of his massive massive debt intact :rotfl:


https://forums.moneysavingexpert.com/discussion/5376265/psst-someone-just-bought-a-buy-to-let-empire&page=4
:T