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Daily Mail - The Wilsons, Retired Teachers Richer Than The Beckhams


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http://www.dailymail.co.uk/news/article-1219390/Meet-retired-teachers-richer-Beckhams-180m-buy-let-empire.html?ITO=1490

Yes, property prices are up almost 8 per cent since March, and estate agents are urging budding landlords to buy now to cash in on rising rental prices - but the Wilsons have had enough.

And so the couple, who own between 700 and 900 houses - Fergus hasn’t counted recently - along the M20 corridor in Kent, are selling their entire portfolio. Which is rather worrying, given that Fergus ‘watches property like other men watch the football scores’ and that their acumen is so astute that they have made six people millionaires through their advice alone.

So is there something they’re not telling us? And is the future of the property market rather dicier than we have been led to believe?

‘Why we’re retiring now is no big secret,’ says Fergus, solemnly. ‘I’d happily keep going, but Judith tells me I can’t rule from the grave, so we have to sell at some point. And right now isn’t a bad time to sell.

‘The difference between interest rates and rent prices will never be as good as it is now so if we sell, we’ll make more profit than we will any other time in the near future.’

Fergus, 61, is also adamant that their fortune has stood relatively steady against the recession. In fact, he believes that as their properties appreciate, their wealth is increasing by a mind-blowing £70,000 a day.

Read more: http://www.dailymail.co.uk/news/article-1219390/Meet-retired-teachers-richer-Beckhams-180m-buy-let-empire.html?ITO=1490#ixzz0TUZ8SIQg

article-0-06C50822000005DC-350_468x332.jpg

Edited by Turnbull2000
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Now, if they sell their portfolio for the £180million asking price, after paying off their meagre borrowing debt (£45million) and taxes, they will retire with a cosy nest-egg of around £100million.

Those figures look decidedly rosy to me. The Wilson's patented 'wealth creation method' was to pull out all of the equity of their properties to fund new purchases, all on interest-only mortgages - they were mortgaged up to the hilt. If they kept buying through till May this year, they are almost certainly deep in negative equity across their portfolio.

Edited by Little Professor
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"And so the couple, who own between 700 and 900 houses - Fergus hasn’t counted recently "

Didn't HPC work out they were beteween £20 Million up and £20 Million down on their portfolio, I can't remember.

Or in other words they took out a highly, highly , highly leveraged bet and HPC says they have a slim chance of making it, but due to the insanity

of banks they may have made a profit or not.

All very confusing and slightly libellous but not a problem for this forum, as I am expressing this view personally, within the confines of a forum.

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Why on earth do these newspapers print everything the Wilsons say????????????

And so the couple, who own between 700 and 900 houses - Fergus hasnt counted recently - along the M20 corridor in Kent, are selling their entire portfolio.

Come off it, we supposed to believe that they don't know how many properties they have, a potential buyer might need to know.

Edited by Philgo
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Accept it, they've made an absolute shed-load of money, as opposed to the huge loss you're all sure they'd made.

Eat those bitter pills "bear" types! You'll be getting used to the bitter taste as you realise you've MISSED THE BOAT once again!

Accept it?

Based on what, exactly? Facts please.

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Accept it, they've made an absolute shed-load of money, as opposed to the huge loss you're all sure they'd made.

Eat those bitter pills "bear" types! You'll be getting used to the bitter taste as you realise you've MISSED THE BOAT once again!

Except that unless the money is in your hand you haven't actually sold it yet , they are planning to sell up it doesn't say they have sold up.

Right now, though, Fergus is waiting. Waiting to see whether the potential buyers — the Russians, Bulgarians, Saudis, Chinese, Japanese or Indians who have all expressed interest — will buy the entire Wilson portfolio in one go.

Read more: http://www.dailymail.co.uk/news/article-1219390/Meet-retired-teachers-richer-Beckhams-180m-buy-let-empire.html?ITO=1490#ixzz0TWORf8Zr

My dad is a big stickler for this in that he constantly maintains one of his classic cars is woth £10K , he keeps sticking it up at 10K yet nobody is willing to pay 10K for it , hence it isn't worth 10K.

Ditto with one of my motorbikes , glasses guide says £2100 , a local shop is selling an identical bike with more miles for £1800 , nobody has bought it so far hence it is worth nothing until the money changes hands.

MIssing the boat isn't always bad , Titanic anybody?.

If they had sold it then you can start prodding people but they haven't

Edited by kennichi
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Accept it, they've made an absolute shed-load of money, as opposed to the huge loss you're all sure they'd made.

Eat those bitter pills "bear" types! You'll be getting used to the bitter taste as you realise you've MISSED THE BOAT once again!

Wait till they have the money in their hands. This is just an advertisement for the portfolio...which looks overvalued and the gearing understated. How many peopel do you see advertising their "wealth" like this if they really have got the money!!

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So, the Wilsons walk the Yellow Brick Road, reach the Emerald City and the Wizard of Oz says to them:

"A scarecrow once asked me for brains, a tin woodsman once asked for a heart, and a lion once asked me for courage. I told them I could not help them because they had those things already - all I did was show them the truth, nothing more."

"I cannot help you either, but for the opposite of reasons"

"You two have stolen all from the munchkins and you now expect them to hold you in awe. As the people of the Emerald City can plainly see: you never had brains nor heart nor courage to begin with. You are selfish and mean spirited."

"To you, Mrs Wilson, I say that no matter what money you've retired with, no amount of surgery in the world will allow you to pass as a convincing female."

"To you, Mr Wilson, I say no matter what money you've retired with, no amount of money in the world will allow you to pass as a convincing human being."

"My only advice to you is to say away from liquidity, lest you melt away."

Edited by Dave Spart
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Those figures look decidedly rosy to me. The Wilson's patented 'wealth creation method' was to pull out all of the equity of their properties to fund new purchases, all on interest-only mortgages - they were mortgaged up to the hilt. If they kept buying through till May this year, they are almost certainly deep in negative equity across their portfolio.

I'm surprised that they haven't been showered with honorary fellowships/degrees (for furthering 'The Cause')

A No bell-piece prize now they sold them all?

Edited by erranta
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Wait till they have the money in their hands. This is just an advertisement for the portfolio...which looks overvalued and the gearing understated. How many peopel do you see advertising their "wealth" like this if they really have got the money!!

I did an analysis of their portfolio and while ago, and the key thing to remember is that this isn't several hundred prime properties being sold individually through a agent, its actually a business and so the only thing that matters really is rental returns versus other current investment returns.

I estimate that they might only be worth £45-65m and not £160m.

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Which one is Fergus?

i wondered that.

ghastly outfits, do they assemble their attire from a jumble sale's skip, because that is what it looks like.

rents falling where i am (essex) although i do see the odd kite flying, so many ordinary shops have ads for lets because the owner of xyz bakery or abc art supplies has a vacant flat to let - doesn't look like rents are rising except that they are trying it on and getting stuck with a void.

couple of houses near me took 2 to 3 months to let, my old flat many miles away near london is still unlet and empty

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I'm getting really bored of these two now. Everytime I read an article about them the figures are different. What I can't understand is why any member of the press corp hasn't taken them to task on their blatant lies and smugness.

Anyone buying their portfolio at the prices suggested are fools.

They probably run it under a limited company to pay less tax (or used to) and limited companies are now obliged to carry out impairment of asset checks every so often hence the figure changes often, much like that company who had the Ruby of Tanzania revalued as it turned out to be worthless.

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They are stuffed and will come out of it with nothing. too much leverage, 85% at last public declaration of leverage, more or less everything bought after 2003. they're selling off bits and pieces to meet mortgage payments although already likely to have defaulted on covenants. equity withdrawal spent buying land and more poorer quality properties which have collapsed in value. inadequate occupancy and rental on the ones that are occupied and the banks have switched them off relationship banking into the restructuring side. I suspect they'll come out of it smelling of roses...ones that have just been manured

They probably run it under a limited company to pay less tax (or used to) and limited companies are now obliged to carry out impairment of asset checks every so often hence the figure changes often, much like that company who had the Ruby of Tanzania revalued as it turned out to be worthless.

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Eat those bitter pills "bear" types! You'll be getting used to the bitter taste as you realise you've MISSED THE BOAT once again!

Some boats are worth missing, especially if it's an over-priced slave ship.

I'll wait for the cheap pleasure cruise. If nothing comes along, then I am sure that there are other ports I can try instead.

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I did an analysis of their portfolio and while ago, and the key thing to remember is that this isn't several hundred prime properties being sold individually through a agent, its actually a business and so the only thing that matters really is rental returns versus other current investment returns.

I estimate that they might only be worth £45-65m and not £160m.

You must be right about the principle behind what the portfolio is actually worth. That is how I would value it if I were spending my own money. I'd live with a 10% return so I'd want 18M a year rental income. Doing the sums I come up with a monthly rent of about 2000pcm per property. If you are getting that Fergus, you are about right on price. Well done for making a lot of money, but I still don't like you very much.

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