Tuesday, Mar 22, 2016

BTL is the national hobby - Fergus Wilson

Kent Business: Kent landlords Fergus and Judith Wilson sell property empire for £250m

I missed this at the time but it goes some way to answering my question from yesterday about whether BTL was investing or a hobby.
“Owning BTL became a hobby for Fergus Wilson that simply got out of control. He says BTL is the national hobby and is followed by millions."

Posted by crash bandicoot @ 10:43 PM (4354 views) Add Comment

13 Comments

1. jack c said...

From the comments section of the article

Tim Dim wrote:

Good old Fungus. He put those idiots from HPC in their place. TheCountOfNowhere and Bruce Banner couldn't even afford a shed at one of his (now ex) Properties. I may be dim, but I've also got a nice BTL portfolio that's me Pension. No mortgages either!

Wednesday, March 23, 2016 08:52AM Report Comment
 

2. This comment has been removed as it was found to be in breach of our Blog Policies.

 

3. happy mondays said...

Also commented

At last , some happy news!!perhaps I won't have to see their awful toady faces on here anymore. Vile , greedy , disgusting creatures that they are!! Enjoy counting your miserable pennies made from gluttony.
+107 ReplyReport Abuse

Wednesday, March 23, 2016 03:01PM Report Comment
 

4. khards said...

The fat man don't have much life left to spend it anyway.

Wednesday, March 23, 2016 03:46PM Report Comment
 

5. techieman said...

I commented on the wilsons in a post a few days ago. Fair play to them they timed the market (whether luck or judgement) didnt get too greedy and at one point were likely overgeared and it COULD have got very nasty very quickly.

But why should the poorest in our society potentially with contribution from us via HB pay for people to become multi-millionaies?

Thursday, March 24, 2016 06:24AM Report Comment
 

6. techieman said...

.... and yet those same LL want to complain as soon as they are told they have to contribute more.

When they win they cant resist telling you how clever you are and how dumb you are for not getting involved. When things go wrong as they expand their empires based on equity from existing properties and gear up , they want to lobby government and tell you they are still geniuses but that the government has sucked them in and then left them with no lifeline.

It cant be because they paid too much for the asset with low yield and no contingency for voids / maintenance etc.

Thursday, March 24, 2016 06:32AM Report Comment
 

7. techieman said...

Sorry "clever THEY are..."

Thursday, March 24, 2016 06:33AM Report Comment
 

8. mark said...

has the empire dropped in price since they last told the world they wanted to sell up

Thursday, March 24, 2016 09:37AM Report Comment
 

9. jack c said...

I've just noticed that the article is from 9 December 2015. I wonder if the deal has actually gone through and they have the money in the Bank? (this being the acid test)

Thursday, March 24, 2016 10:34AM Report Comment
 

10. khards said...

This was his last chance to sell, now that his empire is most likely to be loss making.

Thursday, March 24, 2016 10:50AM Report Comment
 

11. jack c said...

I wonder if their smug mathematical abilities extend to Capital Gains Tax & Inheritance Tax calculations ? (assuming they have actually made a disposal)

Thursday, March 24, 2016 11:39AM Report Comment
 

12. libertas said...

Of course, the sale was probably done in cash and whilst the sale is a market moving event, so is the purchase. What is not discussed here is that somebody was confident enough in the market to splurge 250m on a portfolio.

Sorry, but no crashy crash until 2026.

It is all about timing and cycles, and not about being a perma bear.

Can you put off having a family house until 2026? Will you even spot the bottom?

Friday, March 25, 2016 12:53PM Report Comment
 

13. techieman said...

Libby per mine of 5 to 7. Have a good easter. :).

Friday, March 25, 2016 07:20PM Report Comment
 

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