Wednesday, September 16, 2009

Dapper Dresser’s Words of Wisdom

Bye bye buy to let

Couple put 700 properties up for sale Fergus Wilson and his partner Judith were once the golden couple of the property boom. After resigning as teachers from schools in Kent they went on to build up a buy to let property empire which, at its peak it included over 900 properties with an estimated value of £250m. But they now have decided to sell up. If above link doesn't work - click on this and go to 37 mins in

Posted by mken @ 04:43 PM (1318 views)
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8 thoughts on “Dapper Dresser’s Words of Wisdom

  • before listening to this – can you tell me how long does it last? Im popping out but thought id listen when i have a window but i’d like to know how big the window needs to be – when i come back! Cheers!

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  • At 42:11

    He says his properties are now worth a couple of thousand more than a year ago :-))))))))))

    He hasn’t read the Maidstone thread in the forum then 🙂

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  • I would have thought Ashford and Maidstone have been hit as hard as anywhere.
    Yes a couple of thousand up on last year he said – and now we’re back to where we started. What started buying or at peak. More like started buying.
    He reckons they’ll walk away with £60m profit and they are close to selling all of them.
    If the buyer was listening I’d say that comment must have cost him a few million at least.
    Techieman
    Only 10 mins or so.

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  • Kicking themselves they didn’t sell in 2007!!!!!

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  • Albertino Albertini says:

    For a teacher, his explanations are somewhat wobbly. Oh, and just a shade arrogant: “If you bought most of them (700 properties) after 2000, you would be in deep trouble now, wouldn’t you?” “We bought most of them after 2000, and we’re not in deep trouble; the reason we’re not in deep trouble is ’cause interest rate rate has dropped so dramatically, do you follow?”

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  • TBH much as I hate to admit it, It does make sense to get out before the really big falls start!

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  • If their portfolio was worth £250M at the peak and they currently estimate that they have £60M of equity then it means the banks own more of the property then they do. Another 30-30% fall in prices would wipe this equity out. A 50% drop would leave them owing millions! It’s not a wonder they want to get out. I bet a year ago, when prices were plummeting, they were sh!ting themselves!

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  • Just got in STR 2007 – thanks for that. I dont know why but there is something i find uncomfortable about listening to him. Could only take a couple of minutes. Very strange!

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