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 Post subject: For sale: Britain's biggest buy-to-let empire
PostPosted: Tue Oct 13, 2009 4:01 pm 
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http://www.guardian.co.uk/money/blog/20 ... let-empire
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For sale: Britain's biggest buy-to-let empire
13 October 2009
Patrick Collinson

Fergus and Judith Wilson, the king and queen of buy-to-let who bought hundreds of homes in the property boom, have put their entire portfolio on the market

Fergus and Judith Wilson were the pin-ups of the property investing world; the king and queen of Britain's buy-to-let boom with 900 homes in their portfolio. But others saw it differently – they were avaricious monsters denying homes to first-time buyers and representing everything that was wrong about Britain's fantasy get rich quick economy. Now, the south London former maths teachers, who during the boom snapped up dozens of homes a day, are seeking a buyer for what is a diminished portfolio of property, mostly around Kent.

Victims of Britain's Ponzi-like property system will cheer their demise. Today's economic woes can be traced, for the most part, to excessive lending, mortgage securitisation, financial leverage and debt accumulation. The Wilsons represented all of this, and by the bucketload. But don't cheer too much; they won't be signing on for housing benefit any time soon. Their portfolio of properties is understood to have a price tag of £180m, with around £45m of debt against it. Of course, they still have to find a buyer for what is a collection of mostly two- and three-bed homes, and in today's market that won't be easy. But if they do they should make it into the Sunday Times Rich List with a fortune in excess of £100m.

The Wilsons have been saved by a decline in the residential property market that has been much less severe than many commentators, myself included, forecast. They were also canny in their choice of investments: they bought low-price suburban starter homes with gardens – demand for which remains relatively firm – rather than overpriced city-centre "luxury" flats – where demand has all but collapsed.

.....(cont'd)


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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Tue Oct 13, 2009 11:15 pm 
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Quote:
Fergus and Judith Wilson were the pin-ups of the property investing world


"I'll give you one million dollars for one night with my wife..."

Image

Let that be a lesson to you.
[Mod edit: unnecessary]


Last edited by needle on Fri Jun 25, 2010 11:23 pm, edited 3 times in total.

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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Sun Feb 14, 2010 2:42 pm 
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Buy-to-let gurus see empire crumble -> http://www.thisismoney.co.uk/mortgages- ... id=56&ct=5

Quote:
Judith and Fergus Wilson, the amateur buy-to-let gurus who built a 700-strong property portfolio, have been hit by cash-flow problems...
They were the undisputed king and queen of buy-to-let whose property empire, at the peak of the market, was worth almost a quarter of a billion pounds.
Thanks to their smart property speculating, Judith and Fergus Wilson had an estimated personal wealth of almost £100m. And the two former maths teachers have been in constant demand to impart advice to other would-be housing tycoons, with regular appearances in the Press and on TV.
Now it seems that the Wilsons - who still own 700 properties clustered around Ashford and Maidstone in Kent - got their sums wrong.

there is more


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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Sun Feb 14, 2010 2:54 pm 
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Fergus Wilson interview...amusing enough in an Alan Partridge type fashion,the interviewers reaction to what Fergus has to say is pure car crash telly.

http://www.hip-consultant.co.uk/blog/th ... flats-123/

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—Hunter S Thompson-The Great Shark Hunt, 1979


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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Sun Feb 14, 2010 6:53 pm 
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Basically it is the UK economy explained in 8mins and 6 seconds.How a situation as serious,damaging and destabilising could develop is both funny and frightening at the same time,hence the exasperation and disbelief of the interviewer.

The problem is,the Bank of England won't stop printing money until the type of BTL interviewed in the clip is able to make money again.

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 Post subject: Advice for buy to let landlords "bit of grass and parking"
PostPosted: Fri Jun 25, 2010 10:17 pm 
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I saw this story some time ago in the newspaper of a couple in england who were selling their buy-to-let portfolio.

http://www.telegraph.co.uk/news/uknews/ ... arket.html

It got me thinking about all the people who have invested in apartments rather than houses and are renting them out. I've met a few Section 23 Slum landlords recently and others who bought apartments as a retirement investment. It seems there's something appealing to investors about owning apartments as investments. They sort of look at it in a unitary way and say "well I own 3 in that block".

But no-one in Ireland really wants to live in an apartment. Its where they have to live rather than where they want to live.

Anyway I just thought it was an interesting article

Quote:
Maths couple millionaires quit buy-to-let market
A couple who quit teaching maths to make a fortune in the buy-to-let business have decided to cash in their 700 home property portfolio.

Fergus and Judith Wilson are thought to have made up to £90 million since 1986, when they started with just two houses.
Now they have decided to capitalise on the house price rises of recent months to get out of the business.

Mr Wilson, 61, said he wanted to spend his retirement mentoring other landlords - and enjoying hobbies such as their racehorses and breeding Belgian Blue Cattle.
He said: "The time is right for us to go. It will break my heart to say goodbye to all the houses we have but you cannot take them to the grave with you."
The couple got into the buy-to-let business in 1986 when they realised that it made financial sense to rent their existing three-bedroom semi in Maidstone, when they were looking to move to a bigger house in a nearby village.

But the Wilsons, who at the time were teaching in schools in Sidcup and New Romney, Kent, only really got into the game in the early 1990s, timing their entry perfectly as prices plummeted due to rocketing interest rates.

They rode the boom for 15 years, buying 180 houses in 2003 alone.

They have mainly stuck to buying new-build two and three bedroom houses "with a bit of grass and parking", avoiding the glut of town centre flats that have suffered the heaviest price falls. Mr Wilson once said that it was no good buying flats as an investment because "you cannot get people to buy jam tarts if they want cream doughnuts".

Last October they started offloading their property empire, which at its peak topped 900 houses, worth roughly £250 million.
At the time they said they would not sell all at once, to avoid crashing the market in Ashford and Maidstone.

However, they appeared to have revised their strategy, with recent property price rises convincing them that the time to sell is now.
Average asking prices in Ashford, Kent, rose from £209,000 to £221,000 between June and July.

Mr Wilson said: "At that rate we made more than £1 million this July whereas we did not make a penny in July 2008."

Only three of the remaining houses are outside Kent. One of their golden rules has been only to buy in areas they know and can easily monitor.
Mr Wilson stressed he would try to ensure they sold to responsible landlords to protect their existing tenants, but could "guarantee nothing".


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 Post subject: Re: Advice for buy to let landlords "bit of grass and parkin
PostPosted: Fri Jun 25, 2010 10:36 pm 
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Imagine, They can practically control the market for whole towns. 900 houses, thats mental. Theyre like a little NAMA

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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Fri Jun 25, 2010 11:14 pm 
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I think they're bust meself...

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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Fri Jun 25, 2010 11:24 pm 
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yoganmahew wrote:
I think they're bust meself...


Image

But...oh... what a bust. XD


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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Fri Jun 25, 2010 11:41 pm 
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Something Father Fintan Stack once said to Ted and Dougal comes to mind.

But sorry, that's totally off topic and nothing to do with these nice people.


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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Sun Jun 27, 2010 5:39 pm 
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Cld have saved themselves a cool 10mln in extra CGT if they had sold it all before the latest budget!


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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Tue Aug 03, 2010 1:32 pm 
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They sold up last year - the Telegraph article is from last September.


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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Tue Aug 03, 2010 2:33 pm 
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ex-Patrick wrote:
They sold up last year - the Telegraph article is from last September.


No they tried to sell their entire portfolio last year in one lump but failed to find a buyer. They then decided to drip feed them onto the market and in March this year they were reported to be selling them at a rate of two per week.

With over 700 properties to sell they probably still have some ways to go.

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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Wed Mar 29, 2017 8:29 am 
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http://www.irishtimes.com/news/world/uk ... -1.3028789

Quote:
Landlord bans ‘coloured’ tenants over ‘curry smells’
Britain’s biggest buy-to-let investor Fergus Wilson faces legal action over ban




Britain’s biggest buy-to-let investor who banned “coloured” tenants from renting his homes because he claims they make them smell of curry faces the prospect of legal action.
Fergus Wilson (69) insisted he was not racist and that it was an “economic decision” made after he was left thousands of pounds out of pocket from ridding a home of curry smells.
Mr Wilson, long regarded as Britain’s biggest buy-to-let investor with hundreds of properties in Kent, faced a backlash after an email surfaced setting out his ban to a letting agent.
The email, leaked to The Sun newspaper, listed his requirements for potential tenants, including: “No coloured people because of the curry smell at the end of the tenancy.”
Now the Equality and Human Rights Commission has pledged to investigate and ask Mr Wilson to explain his actions amid comparisons to the “Alf Garnett era” of 1960s Britain.
Garnett was a racist bigot on the BBC sitcom Till Death Us Do Part.
Its chief executive Rebecca Hilsenrath described Mr Wilson’s remarks as “truly disgusting” and added: “Unless we are satisfied that he will not commit unlawful acts in the future we will take legal action.”
But Mr Wilson was defiant. He said he “probably must have” sent the email, and that he would send it again to avoid being saddled with the cost of removing curry smells from one of his homes.
He said: “The problem is the smell gets in the carpets, particularly the bloody carpets. It’s the cost of re-carpeting, which in a decent detached house can be rather expensive.
“So all your profits for maybe a year or more is now going on new carpets.”
He added: “If that makes me racist, that makes 99 per cent of people who buy houses racist.
“How many white people are going to go into a house that smells of curry and are going to buy the house? They are just going to walk away like me and not make an offer.”
Mr Wilson, who has also banned plumbers from renting his homes after claiming he had been ripped off in the past, said he was happy to rent to “negros” as “they haven’t generated a curry smell at the end of the tenancy”.
But he was “wary” of letting to Indians after losing more than £12,000 in rent and re-carpeting costs over a six-month period because one of his properties smelled of curry.


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 Post subject: Re: For sale: Britain's biggest buy-to-let empire
PostPosted: Wed Mar 29, 2017 9:54 am 
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I've written about this here in the past.
He's 100% correct.

Indians are lovely tenants and cause little hassle, but the stench from their cooking permeates everywhere.
And it is extremely offensive to non-Indian or Pakistani noses.
When you are showing the property after an Indian tenant, you can see the disgust in faces the instant people enter the property.

Carpets, furniture, kitchen, beds/mattresses etc., the smell is absolutely impossible to get out for months on end, so the property lies unoccupied.
And no, a professional clean doesn't work.


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