0:00:02 > 0:00:06We're always being told to save for the future.
0:00:06 > 0:00:12That's even more important with people searching for ways to supplement or replace their pension.
0:00:12 > 0:00:18Property is an attractive option, so many people are buying their homes under the hammer.
0:00:44 > 0:00:48If, like us, you're hoping that property will be a safe investment,
0:00:48 > 0:00:50you must choose wisely.
0:00:50 > 0:00:53That means doing your research for the bargains.
0:00:53 > 0:00:57- What did our buyers on today's show find?- Let's take a look.
0:00:58 > 0:01:04'This terraced house in Leeds went to auction at a guide price of 35,000.'
0:01:04 > 0:01:07Not a lot of money. Is it a lot of house?
0:01:08 > 0:01:12'In Maidstone, Kent, the outside of this rural cottage
0:01:12 > 0:01:15'does not match the inside.'
0:01:15 > 0:01:18It's in a state, but there's potential.
0:01:18 > 0:01:23'Behind the scaffolding, there's a first floor flat in north London
0:01:23 > 0:01:26'that's got exciting prospects.'
0:01:26 > 0:01:28Big thumbs-up!
0:01:30 > 0:01:33'These properties were sold at auction.
0:01:33 > 0:01:38'We find out who bought them and what they paid when they went under the hammer.'
0:01:45 > 0:01:49'Leeds in Yorkshire is a thriving and bustling metropolis.
0:01:49 > 0:01:54'Fabulous shopping abounds and its architecture is easy on the eye.
0:01:54 > 0:01:58'With so many theatres and galleries, it's a cultural hub.'
0:01:58 > 0:02:01Two miles from the city centre,
0:02:01 > 0:02:05in a street that's obviously having a lot of remedial work done,
0:02:05 > 0:02:12I'm here to see a two-bed back-to-back at a guide price of 35,000 quid.
0:02:12 > 0:02:14Let's take a look!
0:02:15 > 0:02:21'If the front is anything to go by, that guide price is understandable.
0:02:21 > 0:02:24'The windows possibly need to be replaced.
0:02:24 > 0:02:30'The garden's a concrete slab and weeds, so maintenance needed there.'
0:02:30 > 0:02:34Not a lot of money. Is it a lot of house?
0:02:34 > 0:02:36Well, reasonable start.
0:02:36 > 0:02:42Into your, I imagine, main living room area. Not a bad size space.
0:02:42 > 0:02:46Kitchen, though, relatively small and definitely needs work.
0:02:46 > 0:02:51Maybe you could open that wall up to create a kitchen/living area.
0:02:51 > 0:02:55That's what I'd do. Big windows. We like that. Yeah. Good start.
0:02:57 > 0:02:59'Those windows are great,
0:02:59 > 0:03:03'and although replacing them won't be cheap, this is a back-to-back,
0:03:03 > 0:03:08'meaning you won't have to replace rear windows - there aren't any.
0:03:08 > 0:03:13'It would be a good idea to get the electricity and plumbing checked,
0:03:13 > 0:03:17'but there is some furniture that could be handy.
0:03:17 > 0:03:22'There is a sizeable cellar that would be useful for storage.'
0:03:22 > 0:03:28Upstairs and, unlike the kitchen, the bathroom is not a bad size.
0:03:28 > 0:03:34Definitely could do with updating but, in terms of space, quite good.
0:03:34 > 0:03:37Similarly for the bedroom - big double.
0:03:37 > 0:03:40But there's only one. Where's the other one?
0:03:40 > 0:03:41Upstairs.
0:03:41 > 0:03:47'It's a top floor decent sized double bedroom which, at a pinch,
0:03:47 > 0:03:51'could be split in two to increase the rental yield.
0:03:51 > 0:03:55'But I reckon best to keep things as they are.
0:03:55 > 0:03:58'So it seems like a straightforward project,
0:03:58 > 0:04:02'but it's not quite as simple as it looks.'
0:04:02 > 0:04:06If you buy this property there is an added complication.
0:04:06 > 0:04:09In this area, and a few other around the UK,
0:04:09 > 0:04:13they're trialling a scheme called landlord licensing,
0:04:13 > 0:04:18which means you have to become licensed if you're going to rent it out.
0:04:18 > 0:04:22To be a licensed landlord, you have to fulfil criteria.
0:04:22 > 0:04:26You have to be checked out from a criminal point of view,
0:04:26 > 0:04:33commit to restoring the property to a certain standard, things like fire doors and insulation.
0:04:33 > 0:04:37You're also responsible for tenants that rent the property.
0:04:37 > 0:04:40It's an incredible list of things you have to do.
0:04:40 > 0:04:43'And it's not as though it's optional.
0:04:43 > 0:04:47'You HAVE to get a licence or face a £20,000 fine.
0:04:47 > 0:04:53'If you don't stick to the conditions, you risk being fined £5,000.
0:04:53 > 0:05:00'This trial scheme, run by the council, could put a lot of people off.
0:05:00 > 0:05:07'It was put in place to protect tenants from being exploited by irresponsible landlords.
0:05:07 > 0:05:10'So, with a guide price of 35,000,
0:05:10 > 0:05:15'let's see what a local estate agent makes of this back-to-back.'
0:05:15 > 0:05:20The area as a whole is very good. We're close to the city centre.
0:05:20 > 0:05:22That's good for your students,
0:05:22 > 0:05:27who are going to the university, and young professionals.
0:05:27 > 0:05:31The city centre is good to commute to.
0:05:31 > 0:05:36'So its location could be a plus, but how does the house stack up?'
0:05:36 > 0:05:42First impressions are very good. Structurally, everything's OK.
0:05:42 > 0:05:45These properties were built in the 1900s.
0:05:45 > 0:05:49The property needs a new kitchen, bathroom and double glazing.
0:05:49 > 0:05:53You could turn the top bedroom into two bedrooms,
0:05:53 > 0:05:58which would enable you to rent the property out for more per month.
0:05:58 > 0:06:03'How would rental figures add up, first as a two-bed?'
0:06:03 > 0:06:08Per calendar month, you'd be looking at a rental value of £375 to £450.
0:06:08 > 0:06:12If it was converted into a three-bedroom property,
0:06:12 > 0:06:19you could increase the rental value by around £50 per calendar month, taking it up to approximately £500.
0:06:19 > 0:06:26'Bearing in mind that guide price of 35,000, what could it sell for as a renovated two-bed?'
0:06:26 > 0:06:31Done up, you could be looking to sell for £65,000 to £70,000.
0:06:31 > 0:06:37If you were to turn it into a three-bedroom property, you wouldn't increase the value by that much.
0:06:37 > 0:06:42You could expect to put on another £5,000, taking it up to £75,000.
0:06:43 > 0:06:49The guide price wasn't huge, but the property IS a lot of house for the money!
0:06:49 > 0:06:53Will that landlord licence put people off?
0:06:53 > 0:06:58For those who don't know about it, it could really catch them out.
0:06:58 > 0:07:02Let's find out who bought it when it went under the hammer.
0:07:04 > 0:07:07'This lot came up towards the end of the auction,
0:07:07 > 0:07:11'which explains why there are empty seats.'
0:07:11 > 0:07:15Just a note on this one. It's an amended guide price.
0:07:15 > 0:07:19I'll take 34, then. 34 new bidder, thank you. At the back.
0:07:19 > 0:07:2234. 35?
0:07:22 > 0:07:2535. 36? Not sure.
0:07:25 > 0:07:30It's £35,000. 36 anywhere else? I'll take a half.
0:07:30 > 0:07:33At the back. 35 and a half. 36?
0:07:33 > 0:07:37And a half? Yeah. 37? And a half?
0:07:37 > 0:07:4038?
0:07:40 > 0:07:41And a half?
0:07:41 > 0:07:4339? And a half?
0:07:43 > 0:07:4540,000?
0:07:45 > 0:07:48And a half? 41?
0:07:49 > 0:07:51And a half? 42?
0:07:51 > 0:07:55And a half? 43?
0:07:55 > 0:07:59Three and a half? He's bid 43 and a half. 44?
0:07:59 > 0:08:01Yeah? And a half?
0:08:02 > 0:08:05Yeah? 45?
0:08:05 > 0:08:08And a half? Yeah?
0:08:08 > 0:08:1046? And a half?
0:08:10 > 0:08:1347? And a half?
0:08:13 > 0:08:1548? Too far.
0:08:15 > 0:08:18At £47,500.
0:08:18 > 0:08:20At the back.
0:08:20 > 0:08:2348 anywhere else?
0:08:23 > 0:08:25All finished, then...? 48.
0:08:25 > 0:08:27Back in. 48,000.
0:08:27 > 0:08:29Nearly. And a half?
0:08:29 > 0:08:32Yeah? 49?
0:08:32 > 0:08:3549 and a half? That's a nod. Yeah? 50?
0:08:35 > 0:08:37And a half?
0:08:37 > 0:08:42At £50,000 we have. 50 and a half, if you like.
0:08:42 > 0:08:44Yeah. 51?
0:08:45 > 0:08:49No. Just too far. 50,500. It could be yours.
0:08:49 > 0:08:51For the first time.
0:08:51 > 0:08:55Second. Third and final time at £50,500.
0:08:55 > 0:09:04'That final successful bid of 50,500 was made by mother and daughter Judy and Gaby.
0:09:07 > 0:09:14'They run a lettings business and plan to add this to a number of properties in the area.
0:09:14 > 0:09:18'I met them back at the house to find out more.'
0:09:19 > 0:09:23Judy, Gaby, lovely to meet you. Congratulations.
0:09:23 > 0:09:27- Thank you.- Thank you.- Why did you buy this place.- I like the house.
0:09:27 > 0:09:29Love the area.
0:09:29 > 0:09:34It's being regenerated, and it's just a nice house.
0:09:34 > 0:09:40- How many properties are you looking after now? - In this area we've got 16.
0:09:40 > 0:09:42Further afield?
0:09:42 > 0:09:45Three or four commercial properties
0:09:45 > 0:09:49and probably the same number of houses.
0:09:49 > 0:09:54- Tell me about the business. - It belonged to my father originally.
0:09:54 > 0:09:59He passed it on to me. It was mainly commercial property.
0:09:59 > 0:10:03I've slowly been swapping it to residential.
0:10:03 > 0:10:09'Four years ago, Judy's husband, who was involved in running the company,
0:10:09 > 0:10:12'fell ill and, sadly, passed away a year ago.
0:10:12 > 0:10:17'During this tough time, Gaby stepped in to help run the business
0:10:17 > 0:10:20'and has proved to be a real star.'
0:10:20 > 0:10:23I'd come out of university.
0:10:23 > 0:10:27Had absolutely no idea what I wanted to do and my mother was, like,
0:10:27 > 0:10:33"What a fantastic idea! Come and jump head-first into working for me!"
0:10:33 > 0:10:37- What did you do at university? - I did psychology.
0:10:37 > 0:10:42- So, completely...- Learnt a lot about property!- ..the opposite!
0:10:42 > 0:10:45But I love this and my mother's taught me a lot.
0:10:45 > 0:10:50The first house she had to deal with was a burnt-out property.
0:10:50 > 0:10:52- Oh, no!- It was a total renovation.
0:10:52 > 0:10:57Literally the worst thing. She was like, "You've got a month!"
0:10:57 > 0:11:03'Gaby's been thrown in at the property development deep end.
0:11:07 > 0:11:10'Matters have been slightly complicated
0:11:10 > 0:11:14'by the fact that this duo are going to have to adhere to
0:11:14 > 0:11:18'the new landlord licensing scheme being trialled in this area.'
0:11:20 > 0:11:24- Lots of responsibility. - A lot of stuff out of your control.
0:11:24 > 0:11:28Like being completely responsible for your tenants.
0:11:28 > 0:11:35Which is a bit difficult, even though you're working together. It can be a bit difficult.
0:11:35 > 0:11:38It's much harder to be a landlord in this area.
0:11:38 > 0:11:43I didn't run away from doing it. We've embraced it, very much so.
0:11:43 > 0:11:49- But it's piling pressure on.- Yes. Pressure-wise, it's unbelievable.
0:11:49 > 0:11:52'The added pressure is now to get up and running.
0:11:52 > 0:11:57'They plan to fit new windows, install a bathroom and kitchen,
0:11:57 > 0:12:00'and redecorate throughout.
0:12:00 > 0:12:05'They have a £7,000 budget, which should do the job, barring unforeseen problems.'
0:12:05 > 0:12:09- Do you get involved in the physical work?- Yes.
0:12:09 > 0:12:14- We will clear a house.- Paint it. - We've done everything.
0:12:14 > 0:12:20Stripped up carpets. There's nothing that you can't get your hands on!
0:12:20 > 0:12:22- Right.- That's the best bit.
0:12:22 > 0:12:26- Let me see your nails! - I've never broken one.- I'm sorry.
0:12:26 > 0:12:30Those don't look like the nails of somebody...
0:12:30 > 0:12:33Look! Working hands!
0:12:33 > 0:12:39Rubber gloves are a wonderful thing! Never without a pair!
0:12:39 > 0:12:44'Gaby's hands will be spared a lot of wear and tear,
0:12:44 > 0:12:48'as they have a builder to do most of the heavy work.
0:12:48 > 0:12:55'They'll have the electrics and plumbing checked, as they want to get it earning as soon as possible.'
0:12:55 > 0:12:58- What's the timescale for sorting it out?- Six weeks.
0:12:58 > 0:13:02Good and realistic! We like to be quick.
0:13:02 > 0:13:05- Yes. - We don't like to sit on anything.
0:13:05 > 0:13:10Once we get keys to a property, we're in there.
0:13:10 > 0:13:12Everything is one after the other.
0:13:12 > 0:13:16- We don't put ourselves under ANY pressure(!)- No pressure!
0:13:16 > 0:13:21- But it's better to put yourself under a bit of pressure.- Right.
0:13:21 > 0:13:24Keeps us busy and that's what we like.
0:13:24 > 0:13:28- Congratulations. Lovely to meet you both.- Lovely to meet you.
0:13:28 > 0:13:33- I've got no doubt you'll do a great job.- I hope so!
0:13:33 > 0:13:35Us, too!
0:13:36 > 0:13:41Mother and daughter Judy and Gaby clearly making a great team.
0:13:41 > 0:13:45Lots of pressure on. £7,000 budget and six weeks to do it in.
0:13:45 > 0:13:50How are they going to get on? Find out later in the show.
0:13:58 > 0:14:03'In the beautiful county of Kent lies the village of Sandling,
0:14:03 > 0:14:07'just three miles from the county town of Maidstone.
0:14:07 > 0:14:10'It's a pretty little suburb near the River Medway,
0:14:10 > 0:14:15'and home to the open-air Museum of Kent Life.
0:14:20 > 0:14:24'However, a rude awakening from this peace and tranquillity
0:14:24 > 0:14:27'is the nearby M20 motorway.'
0:14:29 > 0:14:34The property I'm here to see is a reflection of rural Kent life.
0:14:34 > 0:14:38Set on this glorious homestead at the end of a no-through road,
0:14:38 > 0:14:42yet less than a mile from junction six off the M20,
0:14:42 > 0:14:44which is what is behind me.
0:14:44 > 0:14:46There is a constant hum of traffic.
0:14:46 > 0:14:54This cottage and stabling offers it all - rural charm, but also close to the amenities of Maidstone.
0:14:54 > 0:14:59It had a guide price of £150,000 to £155,000.
0:14:59 > 0:15:04No horses included, but sounds like it could race ahead to be a winner.
0:15:09 > 0:15:11'From the outside,
0:15:11 > 0:15:15'it looks like a cute cottage, ripe with potential
0:15:15 > 0:15:20'for extending into the stable, which is also part of the lot.'
0:15:20 > 0:15:21Ooh.
0:15:21 > 0:15:26Sadly, I did conjure up in my mind lots of character in this house,
0:15:26 > 0:15:29inglenook fireplace, lots of beams.
0:15:29 > 0:15:32You can see there is none of that!
0:15:32 > 0:15:36I am glad that you've got some new double-glazed windows here,
0:15:36 > 0:15:40to really keep that awful road noise out.
0:15:40 > 0:15:44A big downstairs bathroom, but that does tell me
0:15:44 > 0:15:47there's probably not one upstairs.
0:15:47 > 0:15:51Two good sized reception rooms at the back.
0:15:51 > 0:15:53This is down as the kitchen!
0:15:53 > 0:15:56But you can't really call it that.
0:15:56 > 0:16:00The plaster board's been peeled off. There's no ceiling.
0:16:00 > 0:16:04It's in a bit of a state, but there's potential.
0:16:05 > 0:16:09Upstairs, there's not that much room.
0:16:09 > 0:16:13You've got two little bedrooms and there is no bathroom.
0:16:13 > 0:16:16That could be a bit inconvenient.
0:16:16 > 0:16:22But what I do like are these views right out to the Kent countryside.
0:16:22 > 0:16:25You've got horses chomping on the grass.
0:16:25 > 0:16:30With a bit of character added, you could have a nice little cottage.
0:16:33 > 0:16:36'Don't forget, that's not all there is to this lot.
0:16:36 > 0:16:42'The cottage sits on just over two acres of land at the front and side.
0:16:42 > 0:16:47'And another part could make this a "stable" investment.'
0:16:47 > 0:16:54- TRAFFIC ROARS - If you want to build your own farmstead in the Kent countryside,
0:16:54 > 0:16:56this is ideal.
0:16:56 > 0:17:01It's expensive to house horses, but with this cottage comes stabling.
0:17:01 > 0:17:07At the moment, it's got plenty of horse boxes and two acres of land.
0:17:07 > 0:17:11There's always room for cows, sheep, a mini zoo, perhaps!
0:17:11 > 0:17:16Or you could try and get permission to convert this into accommodation,
0:17:16 > 0:17:20because there's another whole floor up there!
0:17:20 > 0:17:26'There's certainly loads of potential for development here,
0:17:26 > 0:17:29'providing planning consents are obtained.
0:17:29 > 0:17:32'But what could it be worth on the market?
0:17:32 > 0:17:37'I asked a local property expert for his opinion.'
0:17:37 > 0:17:44I could imagine this property appealing to a vast cross-section of the home-buying community.
0:17:44 > 0:17:49It could be someone who has equestrian pursuits, or a builder
0:17:49 > 0:17:52that needs storage,
0:17:52 > 0:17:56or somebody that wants to convert it into holiday accommodation.
0:17:56 > 0:17:59Somebody could use it as an annex for a relative.
0:17:59 > 0:18:02The possibilities are endless.
0:18:03 > 0:18:06'Sounds like a great investment.
0:18:06 > 0:18:09'How much could the property be worth, once upgraded?'
0:18:09 > 0:18:14Once renovated, if we deal with the property in its entirety -
0:18:14 > 0:18:17a cottage with two acres of land
0:18:17 > 0:18:21and a big storage, or stables for equestrian interests.
0:18:21 > 0:18:25I would think you're looking at £350,000, maybe £375,000.
0:18:27 > 0:18:30'How about on the rental market?'
0:18:30 > 0:18:35I think people may pay a premium for the location, that semi-rural feel.
0:18:35 > 0:18:40It's quite smart. I think £750 to £800 per calendar month.
0:18:40 > 0:18:44'But it doesn't end there. On the same site was this huge barn
0:18:44 > 0:18:48'set on 1.7 acres of land.
0:18:48 > 0:18:53'A separate lot, also available at the auction.
0:18:53 > 0:18:58'With a guide price of £100,000 to £110,000, if you were feeling flush,
0:18:58 > 0:19:02'this could be a welcome addition to the cottage and stables.
0:19:02 > 0:19:07'With the right plan, the sky is the limit on what could be done here.'
0:19:07 > 0:19:10- TRAFFIC ROARS - After looking around this place,
0:19:10 > 0:19:16I've got the urge to get a smallholding and buy some chickens, goats and donkeys!
0:19:16 > 0:19:18Lucy, calm down.
0:19:18 > 0:19:24It's got bags of rural charm, the possibility of converting the stable and that lovely cottage.
0:19:24 > 0:19:29I could go on and on, and with a guide price of £150,000 to £155,000,
0:19:29 > 0:19:34who was bowled over by its potential as it went under the hammer?
0:19:34 > 0:19:39We move to lot 81, the white cottage and attached stables.
0:19:39 > 0:19:42It's got a guide of 150 to 155.
0:19:42 > 0:19:46Start me at 150. 150 I am bid. 155, sir?
0:19:46 > 0:19:49155. And 160? 160.
0:19:49 > 0:19:51165?
0:19:51 > 0:19:53165. And 170? 170.
0:19:53 > 0:19:57175, sir? 180...?
0:19:57 > 0:20:00'There was clearly keen interest in this lot.
0:20:00 > 0:20:06'The guide price of 150,000 to 155,000 was soon blown out of the water.
0:20:06 > 0:20:11'We rejoin the bidding at a whopping £264,000!'
0:20:11 > 0:20:13..64. And 66.
0:20:13 > 0:20:16And 268. And 270.
0:20:16 > 0:20:18272? 275?
0:20:18 > 0:20:19278?
0:20:19 > 0:20:24And 280? 282? 285?
0:20:24 > 0:20:27288? 288.
0:20:27 > 0:20:31And 290? 292? 295?
0:20:31 > 0:20:36295. Come all the way. At £295,000.
0:20:36 > 0:20:39298, if it helps? For the first time at 295,000.
0:20:39 > 0:20:43For the second time at 295,000.
0:20:43 > 0:20:47Third and final time at £295,000. Are you all done?
0:20:47 > 0:20:51Sold at 295,000.
0:20:51 > 0:20:53And your bidder's number is 8520.
0:20:53 > 0:21:00'That winning bid of 295,000 was made on behalf of the Kent Scouting movement.'
0:21:02 > 0:21:05# Help an old lady cross the street
0:21:05 > 0:21:07# Always be sure your room is neat... #
0:21:07 > 0:21:11'Representing them today are John and Chris.
0:21:11 > 0:21:17'John's a retired building surveyor and the Chair of Trustees for the Kent Scouts.
0:21:17 > 0:21:20'Chris is a Scout team leader.
0:21:20 > 0:21:24'I joined them back at the property and spoke to John first
0:21:24 > 0:21:28'to find out if they were "prepared" for the task ahead.'
0:21:28 > 0:21:34# ..It's fun to be a real good Scout. #
0:21:34 > 0:21:38John, you've bought this cottage and stables.
0:21:38 > 0:21:43- I also heard that you've bought that beautiful barn.- Yes, we did.
0:21:43 > 0:21:48- Did you always want to buy both lots?- Yes. It was the plan we had.
0:21:48 > 0:21:55It's the plan we got approval from our trustees to follow through, and the plan we took to auction.
0:21:55 > 0:22:00'What a bonus! Kent Scout movement managed to secure both lots.
0:22:00 > 0:22:06'So they've not only spent £295,000 on the cottage and stables,
0:22:06 > 0:22:09'but a further 170,000 on the barn,
0:22:09 > 0:22:15'making a hefty total outlay of 465,000.'
0:22:15 > 0:22:22How have you raised the finance? That's a lot of money for the Scout group to buy such a plot.
0:22:22 > 0:22:24We actually sold land 20 years ago,
0:22:24 > 0:22:28which put money within the county account.
0:22:28 > 0:22:35That was put there for, one day, for the benefit of Scouting.
0:22:35 > 0:22:42# It's got to be-e Perfect... #
0:22:42 > 0:22:46'All the buildings are to become a centre for the Kent Scouts.
0:22:46 > 0:22:50'There's even a resident cat. That really is perfect.
0:22:50 > 0:22:56'There is a lot of work to do, and extra funds do need to be raised.'
0:22:56 > 0:23:00We need to do some research on where we can obtain grants.
0:23:00 > 0:23:05There are fundraising activities that we can carry out.
0:23:05 > 0:23:11And we have a little residue left over from the auction, which is our building fund.
0:23:14 > 0:23:17'"Be prepared" is the Scout motto.
0:23:17 > 0:23:20'The Kent Scouting movement is no exception.
0:23:20 > 0:23:26'John was keen for me to chat to Scout leader Chris, to find out about the exciting plans.'
0:23:26 > 0:23:30Chris, it's great to meet you. Why are you here?
0:23:30 > 0:23:36- What do you represent? - I'm a Scout leader and trustee of Kent Scout Council.
0:23:36 > 0:23:42I'm going to push for adventurous activities here - archery, climbing, microlighting.
0:23:42 > 0:23:45So we get all young people here enjoying themselves.
0:23:45 > 0:23:51How will you develop this amazing barn, the stabling and cottage?
0:23:51 > 0:23:56Upstairs will be office space and downstairs, kitchen facilities.
0:23:56 > 0:24:00The stables become bunk houses, offices and conference areas.
0:24:00 > 0:24:05This is a fantastic barn for whatever we need it for.
0:24:05 > 0:24:10We've just got to decide what we want and go for it!
0:24:10 > 0:24:13You're going to be changing a few structures.
0:24:13 > 0:24:18- You need to apply for planning permission. - We will, and for change of use.
0:24:26 > 0:24:31'That's the bases covered. How long do they think all this will take?'
0:24:31 > 0:24:35- Our first booking is in two months. - What?- There's a lot of work to do.
0:24:35 > 0:24:42'Sounds like they're going to need an army of workers. Maybe that's a given.'
0:24:42 > 0:24:50- Can the kids earn themselves badges spending a couple of days here? - There is a DIY badge for the Scouts.
0:24:50 > 0:24:53They can get another badge for their uniform
0:24:53 > 0:24:56spending a few days here doing work.
0:24:56 > 0:25:00- They could earn their keep and get a badge!- Definitely.
0:25:00 > 0:25:04I am so pleased the cottage, stables and this beautiful barn
0:25:04 > 0:25:07will be home to the Kent Scouts.
0:25:07 > 0:25:10What a perfect place for all their activities.
0:25:10 > 0:25:14They spent a lot of money buying this.
0:25:14 > 0:25:20Will there be enough volunteers and time to renovate this before their first Scout booking?
0:25:20 > 0:25:22I hope they're prepared.
0:25:22 > 0:25:26And will they get their property developer's badge?
0:25:26 > 0:25:29Find out what happens later in the programme.
0:25:30 > 0:25:35'Coming up, this flat in London has plenty going for it.'
0:25:35 > 0:25:39Inside, it really just needs a bit of tender loving care.
0:25:40 > 0:25:45'Near Maidstone, have the Scouts got their new site up and running?'
0:25:45 > 0:25:50I came here one day and there were people camping on the field.
0:25:51 > 0:25:55'First, did anything hinder Judy and Gaby's renovation?'
0:25:55 > 0:26:00- The weather! - Yes! Definitely the weather!
0:26:02 > 0:26:08'Back, now, to Leeds where this two-bedroom back-to-back terrace
0:26:08 > 0:26:11'was sold at auction for £50,500.
0:26:11 > 0:26:16'It was bought by Judy and daughter Gaby, who run a lettings business.
0:26:16 > 0:26:20'This is an addition to their growing portfolio
0:26:20 > 0:26:23'and was in for a fast turnaround of six weeks.'
0:26:23 > 0:26:25We like to be quick.
0:26:25 > 0:26:27We don't like to sit on anything.
0:26:27 > 0:26:31Once we get keys to a property, we're in there.
0:26:31 > 0:26:34Everything is one after the other.
0:26:34 > 0:26:38- We don't put ourselves under any pressure(!)- No pressure!
0:26:38 > 0:26:42'The house was tired and shabby but with no obvious faults.
0:26:42 > 0:26:48'All it needed was some care and attention to bring it back to life.
0:26:48 > 0:26:52'We went back two months later to find out how they'd got on.
0:26:52 > 0:26:58'New double glazed windows have been installed
0:26:58 > 0:27:03'but there's been no work done to increase that kerb appeal.
0:27:03 > 0:27:07'Let's hope there's a warm welcome inside.
0:27:08 > 0:27:14'The living room has been freshened up, a lick of paint and new carpets.
0:27:17 > 0:27:20'A stylish modern kitchen has been installed.
0:27:24 > 0:27:29'What have Judy and Gaby cooked up for the rest of the house?
0:27:29 > 0:27:35'Let's bring them in from the cold to talk through what they've done.'
0:27:39 > 0:27:43There's been quite a significant change in the bathroom.
0:27:43 > 0:27:46We fully tiled. It was only partly tiled.
0:27:46 > 0:27:51Put a new bath in cos the old one needed freshening up.
0:27:51 > 0:27:55We also put in a new shower, and just redid all of that.
0:27:55 > 0:28:00But in terms of the bathroom suite, the toilet and the sink,
0:28:00 > 0:28:03we decided it was fresh enough.
0:28:03 > 0:28:06We just decided to give it a nicer feel.
0:28:06 > 0:28:10'The first floor bedroom has, just like the living room,
0:28:10 > 0:28:12'had a lick of paint and new carpet.
0:28:12 > 0:28:16'Some of that furniture looks like it's ready for use.
0:28:16 > 0:28:20'So far, so good. What about the attic bedroom?'
0:28:25 > 0:28:29We built up the two walls because it was an open space.
0:28:29 > 0:28:34And the wall here, on the lefthand side,
0:28:34 > 0:28:37was loose and not safe.
0:28:37 > 0:28:42So we knocked it down, made a space and built up around it.
0:28:42 > 0:28:47It actually opens up the room and makes it a really good size.
0:28:47 > 0:28:53'Taking advantage of space on the landing has given this room a boost.
0:28:53 > 0:28:58'As it was a stud wall, there was no need for planning permission.
0:28:58 > 0:29:02'This looks like an attractive addition to their portfolio.
0:29:02 > 0:29:07'In fact, for Judy and Gaby, there was only one major problem.'
0:29:07 > 0:29:14- The weather.- Yes. Definitely, the weather was a...a challenge.
0:29:14 > 0:29:19We had a couple of days where it was too cold for the workmen to work.
0:29:19 > 0:29:22And then the tiles wouldn't dry.
0:29:22 > 0:29:27'That chilly weather is still hanging on but that isn't the reason
0:29:27 > 0:29:32'why Judy and Gaby haven't done the work to improve the kerb appeal.
0:29:32 > 0:29:34'They've had a bit of a bonus.'
0:29:35 > 0:29:39It's a regeneration area.
0:29:39 > 0:29:45They're freshening up the outsides - new roofs, new gutters,
0:29:45 > 0:29:49building walls and putting railings round.
0:29:49 > 0:29:53It would have been silly to put a new front door on
0:29:53 > 0:29:58and to do the work outside when it's going to be done again.
0:29:58 > 0:30:01They've actually asked us not to do anything.
0:30:01 > 0:30:04'Not having to renovate the exterior
0:30:04 > 0:30:09'means Judy and Gaby have kept well within their budget of £7,000.
0:30:09 > 0:30:14'They spent only £6,000, with the windows being the major expense.
0:30:14 > 0:30:18'Add to the 50,500 they paid for the house,
0:30:18 > 0:30:21'and their total outlay is 56,500.
0:30:21 > 0:30:27'It's been down to Gaby to manage the project and keep builders on their toes.'
0:30:27 > 0:30:32Generally, just coming to check up to see how it's going.
0:30:32 > 0:30:34Maybe give them a nudge along.
0:30:34 > 0:30:38They love seeing my face, I'm sure(!)
0:30:38 > 0:30:41Just making sure everything's in order for them,
0:30:41 > 0:30:45that there's nothing they have to wait for on me.
0:30:45 > 0:30:50They can be really left to finish the house as soon as possible.
0:30:50 > 0:30:54'With several years' experience, the renovation went fairly smoothly
0:30:54 > 0:30:58'and was done within their timescale of six weeks.
0:30:58 > 0:31:03'With the house ready to start earning, are the team happy?'
0:31:03 > 0:31:07It's a marvellous feeling when it's finished and you walk in.
0:31:07 > 0:31:11It feels good that all the work's got done.
0:31:11 > 0:31:17There are days when they've not been able to work and you get through and think,
0:31:17 > 0:31:20"Is this ever going to get finished?"
0:31:20 > 0:31:26- Then you walk in and its marvellous. - It's turned out very well. Very pleased with it.
0:31:26 > 0:31:30'But will the local property market feel the same way?
0:31:30 > 0:31:34'Bearing in mind their total outlay of £56,500,
0:31:34 > 0:31:38'it's time to ask two local estate agents for their thoughts
0:31:38 > 0:31:42on this renovated back-to-back terraced house.
0:31:42 > 0:31:46Yes, it's very neutral throughout, presented very well.
0:31:46 > 0:31:49The refurbishment's been done OK.
0:31:49 > 0:31:52The property looks good, finished to a good standard.
0:31:52 > 0:31:55There's a lot of potential for it.
0:31:55 > 0:31:59The standard of the fittings, the kitchen, bathroom,
0:31:59 > 0:32:04the tiling and decor, and the fact that it's carpeted, is very good.
0:32:04 > 0:32:07The finish looks very good.
0:32:07 > 0:32:10It's been decorated to a high standard.
0:32:10 > 0:32:14'As the house is 20 minutes' walk from Leeds city centre,
0:32:14 > 0:32:17'its location is a bonus.
0:32:17 > 0:32:21'But have Judy and Gaby got enough bank for their buck?
0:32:21 > 0:32:24'Remember, their total outlay was £56,500.
0:32:24 > 0:32:28'What could a resale achieve?'
0:32:28 > 0:32:31We would put it on the market at £65,000 to £70,000.
0:32:31 > 0:32:36The property would be worth between £65,000 to £70,000.
0:32:36 > 0:32:44'That could make this mother-and-daughter team a possible pre-tax profit of £13,500.'
0:32:44 > 0:32:48Well, it would be tempting to sell, but we're long-term keepers,
0:32:48 > 0:32:53so we are going to rent it out, but it is lovely to know.
0:32:53 > 0:32:58'What sort of rental income could this two-bed house achieve?'
0:32:58 > 0:33:04Rental value for a property like this would be £425 to £450 per calendar month.
0:33:04 > 0:33:08I would market it at £450 per calendar month.
0:33:08 > 0:33:10- Too low.- Yes.
0:33:10 > 0:33:15Because the type of person you're going to get in the property
0:33:15 > 0:33:17is going to be a family.
0:33:17 > 0:33:22And because we rent in this area, we know what somebody would get.
0:33:22 > 0:33:24'It turns out THEY were right.
0:33:24 > 0:33:29'Judy and Gaby have managed to rent it for £500 per calendar month,
0:33:29 > 0:33:33'an impressive annual yield of over 10%.
0:33:33 > 0:33:35'That's none too shabby.
0:33:35 > 0:33:39'For now, they don't intend to add more properties to their collection.
0:33:39 > 0:33:46'I've got a good idea where they'll go when it's time to dive back into the property market.'
0:33:48 > 0:33:50- Definitely do the auction again. - Yes.
0:33:50 > 0:33:53It's exciting and interesting.
0:33:53 > 0:33:58She always says, "It's my last auction" or "It's my last house."
0:33:58 > 0:34:02It's never the last house! For a while it is.
0:34:07 > 0:34:12'Harlesden in northwest London is a vibrant part of the city.
0:34:12 > 0:34:19'There's great commuter links and affordable housing stock, so no wonder it's popular.
0:34:19 > 0:34:22'Time to see a property that went under the hammer.'
0:34:22 > 0:34:27And here it is. Not too good a start, with this scaffolding.
0:34:27 > 0:34:32More of that later. I'm here to see a one-bedroom first-floor flat.
0:34:32 > 0:34:36Guide price of £145,000. Let's take a look inside.
0:34:36 > 0:34:41'If you can see past the scaffolding, it looks in pretty good order.
0:34:41 > 0:34:46'Original sash windows are in place, plus a few decorative awnings.
0:34:46 > 0:34:49'They always add a touch of character.'
0:34:49 > 0:34:51So, what have we got?
0:34:51 > 0:34:54As layouts go, I think it works OK.
0:34:54 > 0:34:56You've got a kitchen at the end.
0:34:56 > 0:34:58Bathroom and loo there.
0:34:58 > 0:35:02Ooh, hello. That's the very tired and dated boiler.
0:35:02 > 0:35:06The heating has to be sorted. A little landing.
0:35:06 > 0:35:10That needs investigating, a loft!
0:35:10 > 0:35:15Bedroom there, very small, something you could think about working with.
0:35:15 > 0:35:19What I love, a huge living room. Bay window here.
0:35:19 > 0:35:24Put a really nice fire surround in there, make the most of it.
0:35:24 > 0:35:28For a one-bedroom flat, big thumbs-up.
0:35:28 > 0:35:33'The kitchen may not be huge but the lounge makes up for it.
0:35:33 > 0:35:39'I thought it was going too well. The lounge is where the big rooms end.'
0:35:39 > 0:35:42What are your options for sorting out
0:35:42 > 0:35:45the only down side, the small bedroom?
0:35:45 > 0:35:50You don't want to lose space from that living room. Maybe go up?
0:35:50 > 0:35:55Into the attic. That's what a lot of houses in this street have done.
0:35:55 > 0:35:59The down side to that is that the loft is owned by the freeholder.
0:35:59 > 0:36:04You could buy it off him then think about a loft conversion.
0:36:04 > 0:36:06That'll cost about £30,000.
0:36:06 > 0:36:11I've spoken to a local estate agent, and a two-bed flat is worth 210,000.
0:36:11 > 0:36:16A one-bed, about 175 so, financially, I don't think it's worth doing.
0:36:16 > 0:36:20If you're going to live here, it's worth investigating.
0:36:20 > 0:36:22'The bathroom's a squeeze.
0:36:22 > 0:36:27'The suite could be retained, but if you replaced it with a smaller one,
0:36:27 > 0:36:31'you might squeeze in a shower as well.
0:36:31 > 0:36:36'You could decorate the kitchen. Units and the sink look fine.
0:36:36 > 0:36:42'But it could be transformed, it all comes down to your budget.'
0:36:42 > 0:36:47Contrary to what you might think, this scaffolding's really good news.
0:36:47 > 0:36:54The freeholder is undertaking a series of quite extensive exterior renovations.
0:36:54 > 0:36:57It's been repainted, the guttering checked out,
0:36:57 > 0:37:02and whoever bought this flat doesn't have to pay for it.
0:37:04 > 0:37:06'It means that whoever bought it,
0:37:06 > 0:37:11'can spend their money just on the inside of this one-bed flat.
0:37:11 > 0:37:17'I invited a local estate agent to cast an expert eye over this place,
0:37:17 > 0:37:20'that was guided at 145,000.
0:37:20 > 0:37:22'What does he recommend?'
0:37:22 > 0:37:25It needs a lot of refurbishment.
0:37:25 > 0:37:29Every room needs work. I can't see much can be salvaged.
0:37:29 > 0:37:34But the layout is fairly good. On the plus side,
0:37:34 > 0:37:38it's got some original windows, it's got an original feel.
0:37:38 > 0:37:41With a bit of work, it could be very nice.
0:37:41 > 0:37:44'What about going up into the loft?'
0:37:44 > 0:37:49The potential to go into the loft is the main appeal of this flat.
0:37:49 > 0:37:56They're fairly big lofts. Two double bedrooms completely transforms the flat.
0:37:56 > 0:38:00'I know the effect a second bedroom would have on resale value.
0:38:00 > 0:38:02'What about rental prospects?'
0:38:02 > 0:38:07We'd rent it for £800 to £900 a month, depending on the finish.
0:38:07 > 0:38:12As a two-bedroom flat, we'd be able to let this for £1,100 a month.
0:38:12 > 0:38:15So quite a lot of positives for this place.
0:38:15 > 0:38:19The option of the loft, if you negotiate with the freeholder,
0:38:19 > 0:38:21work being done outside.
0:38:21 > 0:38:25Sort out the kitchen and bathroom, great little flat.
0:38:25 > 0:38:27Who spotted it at the auction?
0:38:27 > 0:38:32Move on to lot 13, one-bed flat.
0:38:32 > 0:38:34120?
0:38:34 > 0:38:38Not going to go below 120. 120 anywhere?
0:38:38 > 0:38:41Bidding? 120. 121 in the aisle.
0:38:41 > 0:38:43122?
0:38:44 > 0:38:48122. 123? 123.
0:38:48 > 0:38:51With you. 124?
0:38:51 > 0:38:53Behind you. 124.
0:38:53 > 0:38:56125? 126?
0:38:56 > 0:38:59127?
0:38:59 > 0:39:01128? 129?
0:39:02 > 0:39:04130? 131?
0:39:06 > 0:39:07132?
0:39:07 > 0:39:09133?
0:39:09 > 0:39:13134? 135?
0:39:13 > 0:39:16136? 137?
0:39:16 > 0:39:19138? 139?
0:39:19 > 0:39:22140? 141?
0:39:22 > 0:39:24Have a think.
0:39:24 > 0:39:27140 sitting down. 141 elsewhere?
0:39:27 > 0:39:32140 sitting down. Anyone else? £140,000.
0:39:32 > 0:39:36You're going to lose it. First time. Second time.
0:39:36 > 0:39:39Third and last time, if you're all done.
0:39:39 > 0:39:41Sold 140, madam. Well done.
0:39:41 > 0:39:47'Hiding at the back, the lady who made that final bid of 140,000 was Aideen.
0:39:47 > 0:39:53'Although she raised her hand, it was husband Roger taking on the property.
0:39:53 > 0:39:55'He's a financial professional.
0:39:55 > 0:39:59'He and his wife have spent four years doing up their own home.
0:39:59 > 0:40:05'Roger hadn't seen the place, as Aideen did the viewing and bidding.
0:40:07 > 0:40:12'I met Roger at the flat to find out the plans for it.'
0:40:12 > 0:40:17- Roger, congratulations.- Thank you. - Tell me why you wanted this place.
0:40:17 > 0:40:24I've taken a sabbatical from work, primarily to go back to New Zealand, to spend time with my family.
0:40:24 > 0:40:28I had six to seven weeks, the leaving date wasn't fixed.
0:40:28 > 0:40:33I'd always wanted to do a property up so thought, "Give it a go."
0:40:33 > 0:40:37- Just before you go back to New Zealand?- I am.
0:40:37 > 0:40:40- With a view to what? - To sell it, hopefully.
0:40:40 > 0:40:44Hopefully it'll sell while I'm away.
0:40:44 > 0:40:47- If not, we'll rent it out.- Right.
0:40:47 > 0:40:51Is getting the money back from that important for your trip?
0:40:51 > 0:40:53Not so much for the trip.
0:40:53 > 0:41:00It would be good to get the money back now, but if we rent it for a while, that's fine as well.
0:41:00 > 0:41:04- Tell me a bit more about you. - I work in finance, in a bank.
0:41:04 > 0:41:06Lots of time in an office.
0:41:06 > 0:41:12I enjoy doing DIY and renovation work, so looking forward to it.
0:41:12 > 0:41:14And the sabbatical, what prompted that?
0:41:14 > 0:41:18- I've been away from New Zealand for nearly 15 years.- Wow.
0:41:18 > 0:41:22I've got an old grandmother and a family.
0:41:22 > 0:41:26No-one's getting any younger so I just wanted to spend time with them
0:41:26 > 0:41:29and take a bit of a career break.
0:41:29 > 0:41:34# So good to be back home again... #
0:41:34 > 0:41:38'A lovely thing to be able to do, but taking on a renovation
0:41:38 > 0:41:44'before flying back home, I suspect would definitely focus the mind.'
0:41:44 > 0:41:48Tell me about the plan. What are you going to do to it?
0:41:48 > 0:41:53I contemplated a number of things, maybe changing the layout.
0:41:53 > 0:41:55The bedroom is smallish.
0:41:55 > 0:41:58In an ideal world, you'd remove the chimney breast,
0:41:58 > 0:42:06but that takes time getting planning permission so it'll be remove all the lovely woodchip wallpaper,
0:42:06 > 0:42:10tidy the place up and install a new bathroom and kitchen.
0:42:10 > 0:42:14- That would fill your time, just to do that.- That's right.
0:42:14 > 0:42:19- What kind of budget have you got? - I'm thinking £8,500 renovation-wise.
0:42:19 > 0:42:24Includes a new boiler and getting the central heating system running.
0:42:24 > 0:42:28- Who's doing the work? - I'm going to do a lot of it.
0:42:28 > 0:42:33I'll get a plumber in to do the plumbing and gas work, obviously.
0:42:33 > 0:42:38I'll install the kitchen and bathroom. I've got a bit of experience.
0:42:38 > 0:42:41- What about timescale? - Four to five weeks.
0:42:41 > 0:42:46Any longer and I'll be getting calls from New Zealand asking where I am.
0:42:46 > 0:42:48- Have you got a flight booked? - Not yet.
0:42:48 > 0:42:53- Bit of pressure?- A little bit of pressure, having not done it before.
0:42:53 > 0:42:56Four to five weeks sounds a long time.
0:42:56 > 0:43:00Having done a bit of renovation work it can drag on a bit.
0:43:00 > 0:43:05- Good luck with it all. Have a great time in New Zealand. - Thank you very much.
0:43:05 > 0:43:10# So good to be back home again... #
0:43:12 > 0:43:15Restoring houses is a stressful operation.
0:43:15 > 0:43:19Having the extra pressure of an impending trip to New Zealand?
0:43:19 > 0:43:25Find out how Roger gets on sorting out this flat later in the show.
0:43:27 > 0:43:31Doing up a property takes longer than you imagine.
0:43:31 > 0:43:35There are all sorts of reasons why delays happen.
0:43:35 > 0:43:39- Have our buyers raced ahead or been held up?- Let's find out.
0:43:42 > 0:43:48'Back to Kent, where the Kent Scouts bought this cottage with stables attached
0:43:48 > 0:43:53'plus this beautiful barn for 465,000 at auction.
0:43:53 > 0:44:00'They wanted to turn the site into a recreational centre for Scout groups in Kent.
0:44:00 > 0:44:03'They were pretty confident about their timescale.'
0:44:03 > 0:44:09- Our first booking is in two months. - What?- There's a lot of work to do.
0:44:10 > 0:44:12'We've returned 11 months later
0:44:12 > 0:44:17'to see how this massive project has been progressing.
0:44:17 > 0:44:21'The cottage has now been converted from a two-storey dwelling
0:44:21 > 0:44:28'into two flats with access to upstairs via an outside staircase.
0:44:28 > 0:44:33'The two bedrooms there have been turned into one flat.
0:44:36 > 0:44:39'The landing has become a kitchen
0:44:39 > 0:44:43'and they've squeezed in a shower room and toilet.
0:44:43 > 0:44:49'This flat is now occupied by the on-site project manager.
0:44:49 > 0:44:52'Downstairs has plenty of work to be done,
0:44:52 > 0:44:57'but one reception room has been turned into a computer room.
0:44:57 > 0:45:00'The stables and barn remain untouched,
0:45:00 > 0:45:06'apart from the skiploads of rubbish which have been removed from site.
0:45:06 > 0:45:08'However, grand plans are afoot.
0:45:08 > 0:45:12'John, Chair of the Trustees for Kent Scouts,
0:45:12 > 0:45:15'and Kelvin, full-time project manager,
0:45:15 > 0:45:18'have a scale model of a proposed development.
0:45:18 > 0:45:23'A pot of up to 2.5 million, raised from a combination of membership,
0:45:23 > 0:45:28'sponsorship and fundraising, are potentially available.
0:45:28 > 0:45:32'This money will be spread out over time.
0:45:32 > 0:45:40'It should be worth the wait as it will offer the Kent Scouts a truly magnificent facility.'
0:45:40 > 0:45:43It gives us, eventually, dormitory accommodation.
0:45:43 > 0:45:47It gives us areas where we can do our county training,
0:45:47 > 0:45:52where we can hold our meetings and conduct the county's business.
0:45:52 > 0:45:56We will, eventually, bring our county office here.
0:45:57 > 0:46:01'This project really has grown arms and legs.
0:46:01 > 0:46:06'No wonder Kelvin was brought in. There's been a lot of unseen work.'
0:46:08 > 0:46:10This is our camping field.
0:46:10 > 0:46:14There were overhead power cables, which we had to remove,
0:46:14 > 0:46:17with people doing kiting and pioneering projects.
0:46:17 > 0:46:23The youngsters used a mini digger, dug trenches, and cable's gone.
0:46:25 > 0:46:30We've improved the services into the site. We have a new water supply.
0:46:30 > 0:46:35It's larger than the existing water supply was.
0:46:35 > 0:46:38Our usage of water is going to be very high.
0:46:38 > 0:46:45'On a project of this scale, it's important to make sure planning regulations are followed.'
0:46:45 > 0:46:50We've been in constant contact with the Local Authority,
0:46:50 > 0:46:53and are working with them.
0:46:53 > 0:46:57They're very supportive of where we're trying to go.
0:46:57 > 0:47:01They've given us very positive indications of,
0:47:01 > 0:47:05"Yes, it's acceptable" and "We like what you're trying to do."
0:47:07 > 0:47:11'Talking of planning, have the Scouts been doing any?'
0:47:11 > 0:47:16When we came here, this was full of 30 or 40 years of farming debris.
0:47:16 > 0:47:22The young people cleaned it out and marked out how they want the space to be used.
0:47:22 > 0:47:27They've put the chairs there, marked out where the stairs will come,
0:47:27 > 0:47:29and where our access lift will be.
0:47:29 > 0:47:33They've put in toilets and a tea station.
0:47:36 > 0:47:40'The Scouts paid £465,000 for the whole site,
0:47:40 > 0:47:44'and have spent £37,000 doing the renovations to date,
0:47:44 > 0:47:47'making the total outlay £502,000.
0:47:47 > 0:47:52'We asked two local property experts for their opinions.'
0:47:53 > 0:47:56A lot's changed. A great deal's been done.
0:47:56 > 0:47:58It's looking good.
0:47:58 > 0:48:01When I saw the cottage, it was one property.
0:48:01 > 0:48:06I think they've made much better use of the space.
0:48:08 > 0:48:14You come down a nice country lane access so you've got the feeling of countryside.
0:48:14 > 0:48:19You've got fields all around, so a good aspect over that.
0:48:21 > 0:48:24However, very close to the M20.
0:48:24 > 0:48:29'Bearing in mind the overall spend has been 502,000,
0:48:29 > 0:48:34'has the work the group's done increased the value of the site?'
0:48:34 > 0:48:40If this was to be sold now, without any planning permission,
0:48:40 > 0:48:44you've got living accommodation in place, I can see it achieving
0:48:44 > 0:48:47between £600,000 to £750,000.
0:48:47 > 0:48:51'Wow! That could give them a potential pre-tax profit
0:48:51 > 0:48:56'of between 100,000 and 250,000!'
0:48:56 > 0:49:00I am pleased because it's obviously more than we paid at auction.
0:49:00 > 0:49:05It proves that the work we've done has added to the property.
0:49:05 > 0:49:09And it encourages me, particularly, for the future.
0:49:09 > 0:49:14As we continue to develop the site, the value can only increase.
0:49:14 > 0:49:20'One of the estate agents peeked at the model - and was impressed!'
0:49:20 > 0:49:26That very exciting model that has been on display is ambitious.
0:49:26 > 0:49:31But if they can achieve that, the possibilities are endless.
0:49:31 > 0:49:39We could be talking about £4 million or £5 million worth of property, if they achieve their ambitions.
0:49:39 > 0:49:43'In reality, these valuations are by the by.
0:49:43 > 0:49:47'Profit was not the aim of this development.
0:49:47 > 0:49:51'It's for the benefit of the Scout movement in Kent.'
0:49:51 > 0:49:56I came here one day and there were people camping on the field.
0:49:56 > 0:50:00And I thought, "Ah! That's really what we're about!"
0:50:00 > 0:50:06There were a lot of young people racing about all over the place, a couple of hundred of them.
0:50:06 > 0:50:12That really gave me a buzz because that's why we do what we do.
0:50:15 > 0:50:17'Back to Harlesden, north London,
0:50:17 > 0:50:24'where Roger bought this first-floor one-bed flat for £140,000.
0:50:24 > 0:50:28'He was on a sabbatical from his job as a financial professional
0:50:28 > 0:50:33'and was planning to fly home to New Zealand with his wife, Aideen.
0:50:33 > 0:50:40'Before they set off, he thought he'd buy this flat and renovate it, as you do.'
0:50:40 > 0:50:46- Tell me about the plan. - I contemplated a number of things, maybe changing the layout.
0:50:46 > 0:50:52That's going to take time, so it'll be remove all the lovely woodchip wallpaper.
0:50:52 > 0:50:56Then tidy it up and install a new bathroom and kitchen.
0:50:56 > 0:51:00'Two months on, and we've returned to see if the flat is finished,
0:51:00 > 0:51:04'and whether Roger's got his bags packed.
0:51:04 > 0:51:07'The scaffolding's gone!
0:51:09 > 0:51:15'That lovely bay-fronted living room is now emulsioned and carpeted.
0:51:16 > 0:51:20'The neutral colour scheme continues on the landing.
0:51:20 > 0:51:25'The dust sheets and filler are still stored in the bedroom
0:51:25 > 0:51:33'but the work looks nearly finished, so, for Roger, it's been a busy couple of months.'
0:51:33 > 0:51:37The major changes have been recommissioning the central heating,
0:51:37 > 0:51:40putting a new boiler in.
0:51:40 > 0:51:43In the bathroom, ripped everything out
0:51:43 > 0:51:46and put new back in the same place, a slightly smaller bath
0:51:46 > 0:51:48to try and create a bit more space.
0:51:48 > 0:51:50'It's done the trick.
0:51:50 > 0:51:56'Roger's gone for a white suite. It complements the shiny new paint.
0:51:56 > 0:52:01'Coordinating floor and wall tiles makes this feel more like a wetroom,
0:52:01 > 0:52:03'which is a nice touch.
0:52:03 > 0:52:08'What's the story in the large living room at the front?'
0:52:08 > 0:52:12We've refurbished the sash windows.
0:52:12 > 0:52:16There was lots of thick paint on them and we've peeled that back.
0:52:16 > 0:52:19So that's worked well.
0:52:19 > 0:52:24We've got the radiator working. Installed some coving in the room.
0:52:24 > 0:52:29Then carpeted, painted, which has worked really well.
0:52:29 > 0:52:32It's a lovely bright room, which is fantastic.
0:52:32 > 0:52:37'Adding the coving and a ceiling rose gives the room real charm.
0:52:37 > 0:52:41'Despite a few small jobs waiting to be completed,
0:52:41 > 0:52:44'this room makes a good impression.
0:52:44 > 0:52:48'The refurbishment continues at the back of this flat.'
0:52:48 > 0:52:53In the kitchen, we ripped everything out, brought the gas to this side.
0:52:53 > 0:52:57Had a look at a range of configurations but decided the best
0:52:57 > 0:53:02was to move the washing machine out of the kitchen.
0:53:02 > 0:53:07Put in, obviously, new work top, cupboards and things.
0:53:07 > 0:53:10'Has Roger had any help here?'
0:53:10 > 0:53:13I've pretty much done all of the work myself.
0:53:13 > 0:53:17I got an electrician in for the kitchen
0:53:17 > 0:53:20and a plumber to do the gas work and boiler.
0:53:20 > 0:53:25I've had help from my four-and-a-half-month pregnant wife
0:53:25 > 0:53:28and my sister-in-law, who's been fantastic.
0:53:28 > 0:53:34'It's double good news because Aideen is pregnant with twins.
0:53:34 > 0:53:36'Congratulations to them both.
0:53:36 > 0:53:41'While everything looks to have gone well, there was one problem.'
0:53:41 > 0:53:46I didn't change the radiators when I did the boiler, on the plumber's advice.
0:53:46 > 0:53:52Unfortunately, a couple have sprung a leak so I'll need to replace those.
0:53:52 > 0:53:55'Whoops. A bit of extra cash needed.
0:53:55 > 0:54:00'How much has the refurbishment cost? Did Roger stick to budget?'
0:54:00 > 0:54:03I haven't finalised all the numbers exactly yet.
0:54:03 > 0:54:07I originally budgeted 8,500.
0:54:07 > 0:54:11I've probably come in somewhere between eight and eight and a half.
0:54:11 > 0:54:13I certainly haven't gone over.
0:54:13 > 0:54:17'Have the plans for the flat remained the same?'
0:54:17 > 0:54:25Still intend to sell the property. We have some agents coming round to have a look and start marketing it.
0:54:26 > 0:54:32'We asked two local estate agents to give Roger some expert advice.'
0:54:32 > 0:54:35My first impressions of the property are good.
0:54:35 > 0:54:39All the rooms are the proportions they need to be.
0:54:39 > 0:54:42The kitchen's the size it needs to be.
0:54:42 > 0:54:45The bedroom and the reception are a good size.
0:54:45 > 0:54:49The light in the property is excellent. It'll sell very well.
0:54:49 > 0:54:53When it's finished, it'll be quite nice.
0:54:53 > 0:54:57It needs bits and pieces doing to it, but it's almost there.
0:54:57 > 0:55:00The standard of finish is OK.
0:55:00 > 0:55:04The flat's compact, so the proportions are correct.
0:55:04 > 0:55:06It'll probably appeal to first-time buyers.
0:55:06 > 0:55:14Negatives, a slightly small bathroom and kitchen, but a big lounge makes up for that.
0:55:14 > 0:55:21What's needed is a slightly better kitchen and bathroom because it's competing with so many flats.
0:55:21 > 0:55:23'What's the flat now worth?
0:55:23 > 0:55:29'Roger paid 140,000 at the auction and spent £8,500 on the work,
0:55:29 > 0:55:33'taking his total to £148,500.'
0:55:34 > 0:55:40The resale value of this property is between £180,000 and £200,000.
0:55:40 > 0:55:44I would recommend marketing the flat for £179,950.
0:55:44 > 0:55:50'That range of valuations could mean a gross profit of between £31,450
0:55:50 > 0:55:54'and £51,000.'
0:55:57 > 0:56:01They're within what I thought they'd be, so very happy with that.
0:56:01 > 0:56:03'And rental?'
0:56:03 > 0:56:09To rent out you would achieve in the region of £800 per calendar month.
0:56:09 > 0:56:12The flat would rent for about £866.
0:56:12 > 0:56:17If we can't sell it we'll be forced down the rental thing.
0:56:17 > 0:56:20It's good to know you can get that much.
0:56:20 > 0:56:24'So, the flat's about to go on the market
0:56:24 > 0:56:29'and Roger's getting ready to fly to New Zealand with Aideen.
0:56:29 > 0:56:35'And it sounds as though they'll need new passports for their return trip.'
0:56:35 > 0:56:42Wife's now four and a half months pregnant with twins. We're both thrilled with that.
0:56:42 > 0:56:45We'll have those in New Zealand
0:56:45 > 0:56:50and look forward to bringing them back to the UK next year.
0:56:52 > 0:56:56We'll have more thrills from the auction room next time.
0:56:56 > 0:57:00- Make sure you keep watching Homes Under The Hammer.- Goodbye.
0:57:18 > 0:57:21Subtitles by Red Bee Media Ltd
0:57:21 > 0:57:24E-mail subtitling@bbc.co.uk