0:00:02 > 0:00:05- Hello!- Even in the currently challenging property market,
0:00:05 > 0:00:07we still both enjoy buying property.
0:00:07 > 0:00:09We like the idea of getting a good deal,
0:00:09 > 0:00:13but in today's competitive market, well, it's not always that easy.
0:00:13 > 0:00:17But one way you could get a bargain is to buy under the hammer.
0:00:42 > 0:00:47Well, buying land and properties at auction is becoming more and more popular these days.
0:00:47 > 0:00:50Million of pounds' worth of property is sold every month
0:00:50 > 0:00:53all around the country in auction rooms everywhere.
0:00:53 > 0:00:56So here are the properties that we're featuring on today's show.
0:00:58 > 0:01:03In Kent there's a house where you'd have to be careful not to bite off more than you can chew.
0:01:03 > 0:01:06This property is going to eat up your money!
0:01:07 > 0:01:11I take a ferry trip over to the beautiful Isle of Wight.
0:01:13 > 0:01:16Let's see if this place has got as much appeal as its surroundings.
0:01:18 > 0:01:21And this property in Ripon, North Yorkshire,
0:01:21 > 0:01:24could be fantastic,
0:01:24 > 0:01:27But there's a lot of work before you get to that stage.
0:01:29 > 0:01:31All these properties have been sold at auction.
0:01:31 > 0:01:34We'll find out who bought them and what they paid
0:01:34 > 0:01:36- when they went under the hammer. - It's yours, sir.
0:01:41 > 0:01:45Folkestone's had to be adaptable throughout its history.
0:01:45 > 0:01:48Beginning life as a fishing community,
0:01:48 > 0:01:50the port was continually battered by storms.
0:01:50 > 0:01:55Then - hurrah! - in 1843, the railways arrived.
0:01:55 > 0:01:58They linked the town to London, so along came the tourists,
0:01:58 > 0:02:01with all their money. When that industry floundered,
0:02:01 > 0:02:06so, to an extent, did Folkestone. But now, with a high-speed rail link
0:02:06 > 0:02:08that goes to London in under an hour,
0:02:08 > 0:02:12suddenly Folkestone's future looks brighter.
0:02:12 > 0:02:17Sadly the same can't be said of the property I'm here to see.
0:02:17 > 0:02:20Probably the worst one on the street. Three bedrooms.
0:02:20 > 0:02:22Had a guide price of £65,000 to £70,000.
0:02:22 > 0:02:25Let's take a look inside.
0:02:25 > 0:02:29It may be the worst house, but it also seems to be the biggest.
0:02:29 > 0:02:32It's double fronted, with four floors.
0:02:32 > 0:02:35All this for a guide price of £65,000 to £75,000
0:02:35 > 0:02:37doesn't seem to be that bad.
0:02:37 > 0:02:39Or does it?
0:02:39 > 0:02:42So, what are you going to get for your money?
0:02:42 > 0:02:44- Ooh, I say, this is rather pleasant! - HE LAUGHS
0:02:44 > 0:02:48Surprising! Big double-fronted kind of living-room area here.
0:02:48 > 0:02:52It's in a right mess, obviously, with lots of people's belongings
0:02:52 > 0:02:55left here, but, as a space, quite surprising.
0:02:55 > 0:02:57Lots of light in here as well.
0:02:57 > 0:02:59Um, yeah. I'd certainly do something with this.
0:02:59 > 0:03:02Let's hope it carries on in this vein!
0:03:02 > 0:03:05'Well, it's not a bad start. Through the door,
0:03:05 > 0:03:08'and I've got a choice - up the stairs or down to the basement.
0:03:08 > 0:03:11'Well, I think for now the only way is up.
0:03:14 > 0:03:17'Or maybe not.'
0:03:17 > 0:03:20So, upstairs, and it starts to really deteriorate,
0:03:20 > 0:03:23I'm afraid to say. Believe it or not, that is actually a loo
0:03:23 > 0:03:28on the landing there, but everything is, as you can see, not at all good.
0:03:28 > 0:03:31All the walls are a little skew-whiff.
0:03:31 > 0:03:33The door frames are all over the place.
0:03:33 > 0:03:37That, believe it or not, is a bathroom.
0:03:37 > 0:03:40Absolutely enormous. Far too disproportionately big.
0:03:40 > 0:03:43Maybe what you could consider doing is splitting that in two
0:03:43 > 0:03:46to create an en suite for this bedroom. The bedroom's not bad -
0:03:46 > 0:03:49big window there, letting lots of nice light in.
0:03:49 > 0:03:52But again, it's in a right old state. The floors feel boingy.
0:03:52 > 0:03:55I'm just seeing straight away, this is one of those properties
0:03:55 > 0:03:57that's going to eat up your money.
0:03:57 > 0:04:01SONG: "You've Lost That Lovin' Feeling" by The Righteous Brothers
0:04:03 > 0:04:09All my loving feelings are gradually disappearing, room by room.
0:04:09 > 0:04:14And the top floor doesn't exactly rekindle my affections.
0:04:14 > 0:04:17Low, sloping ceilings, cracks, damp...
0:04:17 > 0:04:19So, we've had the tour -
0:04:19 > 0:04:22or have we?
0:04:22 > 0:04:24Where exactly is the kitchen?
0:04:24 > 0:04:27Oh, dear. It's down in the basement.
0:04:27 > 0:04:30So, here in the basement, a joy to behold,
0:04:30 > 0:04:33or a dark, dingy cavern?
0:04:33 > 0:04:35I'm afraid it's the latter.
0:04:35 > 0:04:38This is where the kitchen is,
0:04:38 > 0:04:41and also some kind of little ancillary area there.
0:04:41 > 0:04:45It's dark, as I've said. It's cold. It's damp.
0:04:45 > 0:04:49And you know what? It's going to take a lot of work to sort this out.
0:04:49 > 0:04:51HE CHUCKLES AND SHIVERS
0:04:51 > 0:04:53"Subterranean" is not a word I want to use
0:04:53 > 0:04:57to describe a kitchen, but there it is.
0:04:57 > 0:05:01However, I may well have a solution.
0:05:02 > 0:05:06Well, that's your outside space. Good news. The bad news is,
0:05:06 > 0:05:08you can't actually get to it at the moment.
0:05:08 > 0:05:11That's because it was added at the last minute to the auction lot,
0:05:11 > 0:05:15so you'd have to create a new door in the property to get to it.
0:05:15 > 0:05:20The good news is, I think that should go in the basement,
0:05:20 > 0:05:23and that would bring a lot of light to that dark, dingy area.
0:05:25 > 0:05:28So all in all a bonus, but yet more work to be done.
0:05:28 > 0:05:31And more money to spend,
0:05:31 > 0:05:34but it's a real chance to add value at the same time.
0:05:35 > 0:05:39I asked a local estate agent what he thought of this four-storey terrace.
0:05:39 > 0:05:42My first impressions are that it's lovely
0:05:42 > 0:05:44to walk into a double-fronted house.
0:05:44 > 0:05:47It's always a pleasure, no matter what street it's in.
0:05:47 > 0:05:50When you walk in, there's rooms either side of the hallway,
0:05:50 > 0:05:53and you get an immediate feeling of spaciousness.
0:05:53 > 0:05:56Well, at least the estate agent can see its potential.
0:05:56 > 0:05:59With a guide price of between £65,000 and £70,000,
0:05:59 > 0:06:02what could the resale value be once renovated?
0:06:04 > 0:06:08I think potentially this property could be worth in the region of £155,000.
0:06:08 > 0:06:11This could be a sound investment, then.
0:06:11 > 0:06:13What about its rental value?
0:06:13 > 0:06:16There's a strong demand for rental property like this
0:06:16 > 0:06:18in the east end of town. I think rent on this house
0:06:18 > 0:06:22would be something in the region of about £650 per calendar month.
0:06:22 > 0:06:26So, potentially a nice little earner, rental-wise.
0:06:26 > 0:06:29There's hope for the old place yet.
0:06:29 > 0:06:32So, the house has lots of space but very little style.
0:06:32 > 0:06:35Adding that is going to cost you money
0:06:35 > 0:06:38in an area where prices are traditionally quite low.
0:06:38 > 0:06:41But spend carefully, and you could still make money on this one.
0:06:41 > 0:06:45So, who saw through the mess and bought it at auction?
0:06:45 > 0:06:46Let's find out.
0:06:50 > 0:06:54We move now to Folkestone, double- fronted house for improvement.
0:06:54 > 0:06:57It's got three bedrooms. And what may I say?
0:06:57 > 0:06:5965,000, bottom end of the guide? I have.
0:06:59 > 0:07:02At £65,000. 70 I have.
0:07:02 > 0:07:0475. And 80.
0:07:04 > 0:07:0780 is bid. And 85. 82.
0:07:07 > 0:07:0985? 83.
0:07:09 > 0:07:1284? 84. And 85?
0:07:12 > 0:07:1585 in a fresh place. And 86?
0:07:15 > 0:07:1786. And 87? No.
0:07:17 > 0:07:20£86,000 I am bid on my left-hand side.
0:07:20 > 0:07:23Coming back in, sir? At £86,000 on my far left-hand side.
0:07:23 > 0:07:2887. At £87,000 I'm bid, front row.
0:07:28 > 0:07:31It's being sold for the first time at 87,000.
0:07:31 > 0:07:34Being sold for the second time at 87,000.
0:07:34 > 0:07:38Gentleman on the front row. Being sold for the third and final time.
0:07:38 > 0:07:40At 87,000, then. Are you all done?
0:07:40 > 0:07:43- HE BANGS HAMMER - Sold at 87,000.
0:07:43 > 0:07:48For £87,000, 17,000 over the top guide price,
0:07:48 > 0:07:51the new owner is 25-year-old Bradley.
0:07:51 > 0:07:55He's a builder who hopes to start a career in property developing.
0:07:55 > 0:07:59I met him back at his first purchase to hear his plans.
0:08:00 > 0:08:03- Bradley! Great to meet you. - Thank you.- Congratulations.
0:08:03 > 0:08:06Why did you want to buy this rather unusual house?
0:08:06 > 0:08:09It's just a property that interested me.
0:08:09 > 0:08:12It's double-fronted, and it needs a lot of work done, so...
0:08:12 > 0:08:14Not fazed by it at all, then?
0:08:14 > 0:08:18No. I've got a strong team, so they'll come in and knock it out.
0:08:18 > 0:08:22What kind of experience have you got in property developing?
0:08:22 > 0:08:25No experience. I've been building for seven years, so...
0:08:25 > 0:08:27You've been building? What kind of stuff?
0:08:27 > 0:08:31Just general maintenance on houses and...
0:08:31 > 0:08:34OK. You've got the experience on the practical side.
0:08:34 > 0:08:37- Who will your team be? - A team of labourers that I've got.
0:08:37 > 0:08:42I've got a plasterer coming down, an electrician and a plumber.
0:08:42 > 0:08:46- So, why now? - The money became available,
0:08:46 > 0:08:50- and it was the right property. - Right.- So I jumped in.
0:08:50 > 0:08:54SONG: "Jump" by Madonna
0:08:54 > 0:08:56Sometimes that's the best way.
0:08:56 > 0:09:00Bradley lives in Surrey, but decided to invest in Kent
0:09:00 > 0:09:03as the property prices were lower there.
0:09:03 > 0:09:06It's also an easy commute. That's just as well,
0:09:06 > 0:09:08as he plans to work full-time on the house
0:09:08 > 0:09:12to get it finished and on the market so he can move on to another one.
0:09:13 > 0:09:17What was it about this place that made you so enthusiastic to buy it?
0:09:17 > 0:09:22Um, the location, really. It was... Looking on the road,
0:09:22 > 0:09:23all the houses are well maintained,
0:09:23 > 0:09:27so hopefully it'll be a quick-selling property.
0:09:27 > 0:09:28Right.
0:09:28 > 0:09:31And in terms of the internal layout and stuff?
0:09:31 > 0:09:34- I hadn't seen it before I bought it, so -- What?!
0:09:34 > 0:09:37- How come?- Just didn't have the opportunity, really.
0:09:37 > 0:09:41I came down to the area to do some investigating,
0:09:41 > 0:09:43but didn't get into the property.
0:09:43 > 0:09:46So what did you think when you walked in?
0:09:46 > 0:09:48Um, first thoughts were...
0:09:48 > 0:09:50it's a lot of work.
0:09:50 > 0:09:52Right.
0:09:52 > 0:09:55But other than that, I was pleased with what I've got here.
0:09:55 > 0:09:59Right. You do know that buying blind is a highly dangerous thing to do?
0:09:59 > 0:10:00Oh, yeah. It was a big gamble.
0:10:00 > 0:10:03Hopefully it'll pay off.
0:10:03 > 0:10:06SONG: "Build It Up, Tear It Down" by Fatboy Slim
0:10:06 > 0:10:07# Tear it down #
0:10:09 > 0:10:11It's a risky business,
0:10:11 > 0:10:14especially when taking on your first project.
0:10:14 > 0:10:16But Bradley's been lucky,
0:10:16 > 0:10:19as there don't seem to be any major structural issues.
0:10:19 > 0:10:24He's given himself three months and £35,000 to get the place sorted,
0:10:24 > 0:10:26so what exactly is he going to do?
0:10:26 > 0:10:29I'm going to juggle things around.
0:10:29 > 0:10:33I'm going to bring the kitchen from downstairs up onto the ground floor.
0:10:33 > 0:10:35- Where we are now?- Where we are,
0:10:35 > 0:10:37with a dining room, as well.
0:10:37 > 0:10:40And then downstairs I'm going to open it up,
0:10:40 > 0:10:42and make it into one big sitting room,
0:10:42 > 0:10:46and then upstairs just decorate throughout,
0:10:46 > 0:10:49- and put a new bathroom in. - Where will the bathroom go?
0:10:49 > 0:10:51There's an existing bathroom up there,
0:10:51 > 0:10:55- so I'm looking into splitting that into two.- Cos it's huge, isn't it?
0:10:55 > 0:10:59Yeah, and putting an en suite for the master bedroom, and one bathroom.
0:10:59 > 0:11:03As for the outside space, Bradley plans to pave the courtyard
0:11:03 > 0:11:07and put in double doors leading from the new living area.
0:11:07 > 0:11:10That's quite a challenge for his first development.
0:11:10 > 0:11:13- Are you at all daunted? - Um, no, not really.
0:11:13 > 0:11:18Just eager to crack on and get it done, so no looking back.
0:11:18 > 0:11:20What's the big plan for you, then? What's next?
0:11:20 > 0:11:23If this one goes well, which I'm praying it will,
0:11:23 > 0:11:25go on and do more.
0:11:25 > 0:11:29- And will you look at the next one before you buy it?- Yes, I will.
0:11:29 > 0:11:30- Promise me! - THEY LAUGH
0:11:30 > 0:11:32Because it's dangerous ground.
0:11:34 > 0:11:38Well, I've said it a thousand times. You should always look at a property
0:11:38 > 0:11:40before you bid on it at auction.
0:11:40 > 0:11:44Bradley taking a big gamble on his very first property purchase.
0:11:44 > 0:11:47There's a lot of space in this property,
0:11:47 > 0:11:50but there's also a lot of work to be done to sort it out.
0:11:50 > 0:11:54Will he make any money out of it? You can find out later in the show.
0:11:56 > 0:12:01SONG: "Welcome To My Little Island" by Patrick Nuo
0:12:02 > 0:12:04# This is paradise
0:12:04 > 0:12:07# You can't deny #
0:12:07 > 0:12:11Lucky old me! I have travelled to the Isle of Wight today.
0:12:11 > 0:12:13Now, it's a popular tourist destination,
0:12:13 > 0:12:17and apparently one of the sunniest places in the UK.
0:12:17 > 0:12:20Now, I'm in the northeast part of the island,
0:12:20 > 0:12:22and stretching out onto the sea is Ryde Pier.
0:12:22 > 0:12:26Now, it was originally built in 1814
0:12:26 > 0:12:30to save sailors traipsing half a mile over wet sand.
0:12:30 > 0:12:35It's still used today as a major transport link into the island.
0:12:35 > 0:12:36TRAIN BELL RINGS
0:12:36 > 0:12:39SONG: "Good Day Sunshine" by The Beatles
0:12:40 > 0:12:42# Good day sunshine...
0:12:42 > 0:12:44Ryde is the second-largest town on the island,
0:12:44 > 0:12:47and is famous for its summer sailing regatta.
0:12:50 > 0:12:53Just off the seafront is the property I'm here to see,
0:12:53 > 0:12:56a two-bedroom first-floor maisonette.
0:12:56 > 0:12:59Now, it's got a guide price of £50,000.
0:12:59 > 0:13:03Let's see if this place has got as much appeal as its surroundings.
0:13:03 > 0:13:07# Good day sunshine #
0:13:08 > 0:13:11Look at me, with a big smile on my face today!
0:13:11 > 0:13:14I really feel in the holiday mood. The sun is shining.
0:13:14 > 0:13:16Let's have a look around this maisonette.
0:13:16 > 0:13:18The geography... It feels quite large.
0:13:18 > 0:13:22You're upstairs. We're towards the back of the property.
0:13:22 > 0:13:24Got a kitchen here, which is not bad.
0:13:24 > 0:13:27We've got a little bedroom, a bathroom,
0:13:27 > 0:13:30second bedroom and lounge to the front of the property.
0:13:30 > 0:13:33What I like is that it's painted peppermint!
0:13:33 > 0:13:36Look at this! A really nice little pastel colour here.
0:13:36 > 0:13:39So all in all it's got a good feel about it,
0:13:39 > 0:13:42but I can smell something rather musty,
0:13:42 > 0:13:45which is not good. I'm going to investigate.
0:13:45 > 0:13:49SONG: "That Smell" by Lynyrd Skynyrd
0:13:49 > 0:13:51# Can't you smell that smell? #
0:13:53 > 0:13:56The foetid fragrance isn't coming from the bathroom or kitchen,
0:13:56 > 0:14:00which is the best thing I can say about these two rooms.
0:14:04 > 0:14:07The two bedrooms are not the source of the stench either.
0:14:07 > 0:14:09Only one room left.
0:14:19 > 0:14:22So, here's the lounge. Well, it's apricot,
0:14:22 > 0:14:26but you've got a nice bay window here which adds character to the place.
0:14:26 > 0:14:29But here's the bad news. You know I mentioned that musty whiff?
0:14:29 > 0:14:32Well, there are signs of damp up here.
0:14:32 > 0:14:35Look! You can see up here, you've got paper peeling.
0:14:35 > 0:14:38Now, that suggests there could be a problem with the roof.
0:14:38 > 0:14:41When the roof is leaking, you are talking big money
0:14:41 > 0:14:44to get things sorted. I would look at getting a damp expert in here
0:14:44 > 0:14:48to inspect this ASAP, and just keep my fingers crossed
0:14:48 > 0:14:51that it won't cost the earth. But if you're in a maisonette,
0:14:51 > 0:14:55it means there could be somebody else to share the cost with you -
0:14:55 > 0:14:59the people living downstairs. Now, there's no hard or fast rules about this,
0:14:59 > 0:15:02so never assume you're going to be able to half the bills,
0:15:02 > 0:15:06because it all depends on your lease and the freeholder of the building.
0:15:06 > 0:15:09So I think there's a bit of homework to do on this property.
0:15:12 > 0:15:15Despite the damp and dingy condition of the maisonette,
0:15:15 > 0:15:18it does have one major plus point.
0:15:19 > 0:15:22This could be a fantastic holiday rental.
0:15:22 > 0:15:25I've chatted to a few local agents,
0:15:25 > 0:15:27and they've told me this would let in peak season
0:15:27 > 0:15:31for £425 per week!
0:15:31 > 0:15:35So the good news is, financially you could make a good return here,
0:15:35 > 0:15:41but the downside - you'd have to let it out in the best months of the year.
0:15:42 > 0:15:46The auction guide price for the property was £50,000.
0:15:50 > 0:15:54I invited a local estate agent to give us her opinion on it.
0:15:54 > 0:15:58This property has excellent potential for holiday lets,
0:15:58 > 0:16:01because the location being just off of Ryde Esplanade,
0:16:01 > 0:16:04with all the transport facilities and the beaches,
0:16:04 > 0:16:07so I think it would be very popular, in the right condition.
0:16:08 > 0:16:12Once the place has been done up, what would the sell-on value be?
0:16:12 > 0:16:16I would estimate the resale value, once the property has been renovated,
0:16:16 > 0:16:20to be in the region of £80,000 to £85,000.
0:16:20 > 0:16:23What if it was let out as a long-term rental?
0:16:23 > 0:16:27Once the property's been renovated, with a modern kitchen and bathroom,
0:16:27 > 0:16:30the rental income per calendar month
0:16:30 > 0:16:33should be in the region of £375 per month
0:16:33 > 0:16:36to £425 per month.
0:16:41 > 0:16:44So, it needs a bit of work. I would get the damp looked at
0:16:44 > 0:16:49and the roof sorted. But for me, the selling point is this location.
0:16:49 > 0:16:51You're in the centre of a beautiful town
0:16:51 > 0:16:54with the beach right on your doorstep.
0:16:54 > 0:16:56What could be more perfect?
0:16:56 > 0:17:00Mmm! Let's see who fancied this maisonette at the auction.
0:17:01 > 0:17:05Does somebody wish to start at just £40,000?
0:17:05 > 0:17:0840,000 we do have. Thank you, madam.
0:17:08 > 0:17:09Bid here straight away of 40.
0:17:09 > 0:17:1245, madam? 45 I have.
0:17:12 > 0:17:1550. I now have 50.
0:17:15 > 0:17:1853? Looking for 53.
0:17:19 > 0:17:2353,000 is now on the phone. 54,000 is in the room.
0:17:23 > 0:17:2654 in the room. Looking for 55.
0:17:26 > 0:17:2855 is on the telephone.
0:17:28 > 0:17:3255 on the phone. 60? 60's here bid in the room.
0:17:32 > 0:17:3560,000 is here in the room. 61 we have.
0:17:35 > 0:17:3761,500.
0:17:37 > 0:17:4162,000, madam, here in the room. You might be getting lucky now on that.
0:17:41 > 0:17:4362,250?
0:17:43 > 0:17:4662,250. 62 and a half now here in the room.
0:17:46 > 0:17:4762,750?
0:17:47 > 0:17:53I have 62,500, then, once...
0:17:54 > 0:17:5662,500 twice...
0:17:56 > 0:18:0062,500...
0:18:00 > 0:18:0362,750. I thought you'd done it then.
0:18:03 > 0:18:05I should have been a bit quicker, shouldn't I?
0:18:05 > 0:18:08I know. 62,750.
0:18:08 > 0:18:10Back at 63, the lady says yes to.
0:18:10 > 0:18:1263 with the lady in the room.
0:18:12 > 0:18:15Is he out? 63,000, then, with you, madam,
0:18:15 > 0:18:18hopefully, then. Once.
0:18:18 > 0:18:2063,000 twice.
0:18:21 > 0:18:2563,000 third, final time.
0:18:26 > 0:18:30It was Helen who made the successful bid of 63,000.
0:18:32 > 0:18:35She lives in London,
0:18:35 > 0:18:38and, with her husband Kieran, owns an IT recruitment agency.
0:18:40 > 0:18:44Helen now leaves the management of the company to her husband
0:18:44 > 0:18:46while she builds their property portfolio.
0:18:50 > 0:18:54- Thanks for inviting us today. It's lovely to meet you.- You're welcome.
0:18:54 > 0:18:56Why did you want to buy in the Isle of Wight?
0:18:56 > 0:19:01Well, about four years ago we started looking for a seaside bolt hole,
0:19:01 > 0:19:05because we live in Southeast London, and we went further and further south
0:19:05 > 0:19:08and eventually came to the island and loved it,
0:19:08 > 0:19:11and about 18 months ago we bought a second home here,
0:19:11 > 0:19:13and we thought it would be quite a good idea
0:19:13 > 0:19:17to have properties here and combine work and play.
0:19:17 > 0:19:20'Helen's hoping to let this maisonette out.
0:19:20 > 0:19:22'With a second home already on the island,
0:19:22 > 0:19:26'purchasing other properties here is a good way for Helen and her husband
0:19:26 > 0:19:30'to combine work and leisure. The couple have four children
0:19:30 > 0:19:34'aged from seven up to 20, but it's not just property developing
0:19:34 > 0:19:36'and looking after the kids that keeps them busy.'
0:19:36 > 0:19:38What else do you do?
0:19:38 > 0:19:41Well, our other business is an IT recruitment business,
0:19:41 > 0:19:45Headhunters, so I was involved in that a lot
0:19:45 > 0:19:47up to about six years ago,
0:19:47 > 0:19:50and as I got more interested in the property
0:19:50 > 0:19:53and things became more weighted on the building side,
0:19:53 > 0:19:56I decided I'd have to pass to my husband
0:19:56 > 0:19:58and let him deal, really, with that one.
0:19:58 > 0:20:01So, um, yeah. I just don't think about it.
0:20:01 > 0:20:03Just keep moving on.
0:20:03 > 0:20:05# Don't stop moving
0:20:05 > 0:20:06# Find your own way to it
0:20:06 > 0:20:09# Listen to the music #
0:20:09 > 0:20:12Helen and her husband certainly have a lot of plates spinning,
0:20:12 > 0:20:15but she seems to thrive on it.
0:20:17 > 0:20:20So, what sort of potential did you see in this flat?
0:20:20 > 0:20:24Well, I'd been looking at two-bed cottages, actually,
0:20:24 > 0:20:27around this area and in Ryde in general.
0:20:27 > 0:20:31And I thought, well, the rental market is quite strong,
0:20:31 > 0:20:33the holiday-rental situation is quite strong -
0:20:33 > 0:20:37OK, let's talk about the downsides. You walk straight in the door
0:20:37 > 0:20:39and you get that whiff of damp, don't you?
0:20:39 > 0:20:42What kind of investigations have you done?
0:20:42 > 0:20:47I've had my builder round already, and we've looked at what needs doing.
0:20:47 > 0:20:50Also the main thing here really is the roof,
0:20:50 > 0:20:52which we have to sort out sooner rather than later.
0:20:52 > 0:20:55It is a combined-responsibility situation,
0:20:55 > 0:20:58not just with me or the downstairs flat
0:20:58 > 0:21:00but also the building to the left of us.
0:21:00 > 0:21:04We think it's just superficial, but we're going to delve deeper
0:21:04 > 0:21:07to make sure none of the timbers need replacing or anything,
0:21:07 > 0:21:10so that's the first line of attack, really.
0:21:10 > 0:21:13We will do a complete rewiring,
0:21:13 > 0:21:16bring in a new heating system.
0:21:16 > 0:21:20There's no gas in the building, so we have to bring that in, actually.
0:21:20 > 0:21:24New kitchen, new bathroom, flooring, etc.
0:21:24 > 0:21:26What sort of budget have you got in mind to spend here?
0:21:26 > 0:21:30All going well, I'd like to think I could come in
0:21:30 > 0:21:34at less than 26,000. 25, possibly.
0:21:34 > 0:21:3725,000 sounds a healthy amount to play with,
0:21:37 > 0:21:40but if the roof does turn out to be a major problem,
0:21:40 > 0:21:43then, that budget might literally go through the roof,
0:21:43 > 0:21:47and the proposed two-month timescale might also go out the window.
0:21:49 > 0:21:53So, who's going to crack on in here and do all the work?
0:21:53 > 0:21:56Well, I'm going to start doing the stripping off,
0:21:56 > 0:21:59with maybe one or two children, hopefully.
0:21:59 > 0:22:02Not on the sunny days when we should be on the beach, though,
0:22:02 > 0:22:06but I quite like to do things myself,
0:22:06 > 0:22:09and the paint job at the end I'll probably do myself, actually.
0:22:09 > 0:22:14When the work starts, I anticipate being here every four to five days.
0:22:14 > 0:22:16That's what I've done in the past.
0:22:16 > 0:22:20Helen, you've got lots to think about, lots to do here. Good luck.
0:22:20 > 0:22:22- Thank you very much.- Thank you.
0:22:22 > 0:22:26SONG: "Don't Stop Movin'" by S Club 7
0:22:26 > 0:22:30# Don't stop movin' to the funky funky beat #
0:22:30 > 0:22:33So, Helen is hoping to get a bit more of a work/holiday balance
0:22:33 > 0:22:36in her life. And who wouldn't, in a place like this?
0:22:36 > 0:22:40But I'm still worried about what she might find with that roof.
0:22:40 > 0:22:43Find out how she gets on later in the programme.
0:22:44 > 0:22:48Coming up - in Ripon, North Yorkshire,
0:22:48 > 0:22:51there's a property where you'd be wise to look before you leap.
0:22:51 > 0:22:54A lot of hoops to jump through.
0:22:55 > 0:22:57Back on the Isle of Wight,
0:22:57 > 0:23:01Helen's renovation has been a real family effort.
0:23:02 > 0:23:05They like to be involved, and we do things together.
0:23:06 > 0:23:09But first we return to Folkestone in Kent,
0:23:09 > 0:23:12to see if Bradley regrets buying sight-unseen.
0:23:12 > 0:23:15In future I will definitely have a look round.
0:23:18 > 0:23:20Earlier we met Bradley.
0:23:20 > 0:23:24He'd just bought this three-bed double-fronted terrace in Folkestone
0:23:24 > 0:23:29for £87,000, £17,000 over the guide price.
0:23:30 > 0:23:33And considering that this was his first development,
0:23:33 > 0:23:35he certainly wasn't playing safe.
0:23:36 > 0:23:40- I hadn't seen it before I bought it, so...- What?!
0:23:40 > 0:23:43- How come?- Um, just didn't have the opportunity, really.
0:23:43 > 0:23:46I came down to the area to do some investigating,
0:23:46 > 0:23:48but didn't get into the property.
0:23:48 > 0:23:52You do know that buying blind is a highly dangerous thing to do?
0:23:52 > 0:23:56Oh, yeah. It was a big gamble, but hopefully it'll pay off.
0:23:56 > 0:24:00Builder Bradley planned to renovate this four-storey house completely,
0:24:00 > 0:24:05from top to dark-and-dingy bottom, in just three months.
0:24:05 > 0:24:08So, five months later,
0:24:08 > 0:24:10had his gamble paid off?
0:24:11 > 0:24:15From the outside it certainly looks like it's had a bright start.
0:24:15 > 0:24:18But what about inside?
0:24:18 > 0:24:20SONG: "Ray of Light" by Madonna
0:24:22 > 0:24:24Well, he might not have moved the kitchen,
0:24:24 > 0:24:27but the subterranean basement's been transformed
0:24:27 > 0:24:30into a bright, modern kitchen/diner.
0:24:30 > 0:24:32I just can't believe how much bigger it looks.
0:24:32 > 0:24:36# And I feel like I just got home
0:24:36 > 0:24:38# And I feel #
0:24:40 > 0:24:44The living room, one floor up, feels light and fresh.
0:24:56 > 0:24:59The changes continue on the first floor.
0:24:59 > 0:25:04The unnecessarily huge bathroom has made way for a fourth bedroom,
0:25:04 > 0:25:09and a new, albeit compact bathroom has been created
0:25:09 > 0:25:11between the two bedrooms.
0:25:15 > 0:25:18On the top floor, there are two further bedrooms,
0:25:18 > 0:25:21and another bathroom.
0:25:32 > 0:25:36Up here, I've taken a bit of space out of this bedroom
0:25:36 > 0:25:38to create this bathroom.
0:25:38 > 0:25:42I've installed a skylight to give as much light as possible,
0:25:42 > 0:25:45and a new bath suite.
0:25:46 > 0:25:48Bradley's certainly been busy.
0:25:48 > 0:25:50I've done the majority of the work.
0:25:50 > 0:25:53I've called in favours from friends and family,
0:25:53 > 0:25:57but other than that, the work I couldn't do was subcontracted out.
0:25:58 > 0:26:01Bradley has spent long days on the house,
0:26:01 > 0:26:05but by doing the majority of the work himself, he has saved money.
0:26:05 > 0:26:09He originally planned to spend £35,000.
0:26:09 > 0:26:13'I spent under budget. I've gone in at about £32,000,
0:26:13 > 0:26:15'so I'm very happy with that.'
0:26:15 > 0:26:17It was a saving on the boiler,
0:26:17 > 0:26:21because the boiler was here when we first came, which was brand new.
0:26:21 > 0:26:24It's savings like that which have afforded Bradley
0:26:24 > 0:26:27a few little luxuries.
0:26:27 > 0:26:31I've put all new lighting in. There's 84 spotlights throughout the house,
0:26:31 > 0:26:33so it's very light.
0:26:33 > 0:26:36SONG: "Light My Way" by Audioslave
0:26:37 > 0:26:39# Won't you light my way? #
0:26:45 > 0:26:49With 84 spotlights, the words "dark and dingy"
0:26:49 > 0:26:52can never be applied to this place again.
0:26:52 > 0:26:56And adding patio doors leading to the newly created patio area
0:26:56 > 0:27:01brings plenty of light into the revamped kitchen/diner.
0:27:02 > 0:27:05Right. We've knocked through the wall here to create room
0:27:05 > 0:27:09for these double doors. We put a dividing fence through
0:27:09 > 0:27:12and slabbed the whole area. It was a real bonus
0:27:12 > 0:27:16to get this bit of land. It's finished the house off nicely.
0:27:17 > 0:27:20Bradley always planned to use the profits from this house
0:27:20 > 0:27:24to purchase more. So what sort of profit is he hoping for?
0:27:24 > 0:27:26I haven't got an idea of the price range yet.
0:27:26 > 0:27:29Just wait and see, fingers crossed.
0:27:30 > 0:27:33Well, here come two men who can put Bradley out of his misery.
0:27:35 > 0:27:38He paid £87,000 for the property,
0:27:38 > 0:27:41and spent £32,000 completely renovating it,
0:27:41 > 0:27:45making a total outlay of £119,000 plus other costs.
0:27:45 > 0:27:49So, has all his hard work paid off?
0:27:51 > 0:27:54What a change! What a difference from previously!
0:27:54 > 0:27:57The place is full of light, full of nice modern fittings,
0:27:57 > 0:27:59and it's been well finished off.
0:27:59 > 0:28:03It's a difficult property to work with, a kitchen in the basement.
0:28:03 > 0:28:06Some people don't like that. But the way they've designed this,
0:28:06 > 0:28:09I think they've made good use of the space.
0:28:12 > 0:28:14The best selling point of the property
0:28:14 > 0:28:18is probably a combination of the open-plan living/kitchen area
0:28:18 > 0:28:21and the fantastic garden at the back here,
0:28:21 > 0:28:24that's accessible from the patio doors.
0:28:24 > 0:28:27I think they're going to shift the house very quickly.
0:28:27 > 0:28:29Just what he wanted to hear!
0:28:29 > 0:28:32But will the valuations sound as good?
0:28:32 > 0:28:35Remember, his total spend here was 119,000.
0:28:35 > 0:28:39Resale value for this property at the moment, in today's market,
0:28:39 > 0:28:42is between £145,000 and £150,000.
0:28:42 > 0:28:48I think the resale value of this property is about £155,000.
0:28:48 > 0:28:52If Bradley does manage to sell the house for 155,000,
0:28:52 > 0:28:56that would give him a pre-tax profit of £36,000.
0:28:56 > 0:29:00That could provide a decent deposit for his next development.
0:29:00 > 0:29:03If I can achieve them prices, I will be happy.
0:29:03 > 0:29:07But will the rental figures sway his decision to sell?
0:29:07 > 0:29:10On the rental side, I think somewhere between £800 and £850
0:29:11 > 0:29:12per calendar month.
0:29:12 > 0:29:16Realistically, you're looking at about £700 per calendar month in this area.
0:29:16 > 0:29:19I can't afford to rent it out, financially,
0:29:19 > 0:29:24so it's just best for me to sell it and move on with the next one.
0:29:24 > 0:29:27I'm really impressed with the work that Bradley's done on this,
0:29:27 > 0:29:29his first property development.
0:29:29 > 0:29:32I'm sure he'll go from strength to strength,
0:29:32 > 0:29:36but just hope he views his next one before he buys it.
0:29:36 > 0:29:39It hasn't cost me too bad not viewing the property first,
0:29:39 > 0:29:42but in the future I will definitely have a look round.
0:29:46 > 0:29:51Today I'm in the beautiful ancient city of Ripon in North Yorkshire.
0:29:51 > 0:29:54Founded over 1,300 years ago,
0:29:54 > 0:29:58some of the buildings have stood here since the seventh century.
0:29:58 > 0:30:01I'm here to see another historic property,
0:30:01 > 0:30:04this one built in 1750.
0:30:04 > 0:30:06It's a part-commercial, part-residential unit
0:30:06 > 0:30:09with a double frontage onto this road.
0:30:09 > 0:30:12The first thing I'm noticing is that it is on one of the main routes
0:30:12 > 0:30:16into the centre of Ripon, and it's right by this set of traffic lights,
0:30:16 > 0:30:20which could explain the £50,000 guide price.
0:30:20 > 0:30:22Let's take a look inside.
0:30:24 > 0:30:27This roadside position is definitely a big negative.
0:30:27 > 0:30:31With narrow streets and pavements, the house seems to shake and rattle
0:30:31 > 0:30:34every time large vehicles pass by.
0:30:34 > 0:30:37SONG: "Shake, Rattle & Roll" by Bill Haley & His Comets
0:30:37 > 0:30:41Hm! It's hard to imagine this as a shop, really,
0:30:41 > 0:30:45apart from these huge great windows looking out onto the street.
0:30:45 > 0:30:49Given that this is listed, that could be a good or a bad thing,
0:30:49 > 0:30:51because one thing the planners would not want you to do
0:30:51 > 0:30:54is change the windows.
0:30:54 > 0:30:57If this was going to be a residential place,
0:30:57 > 0:30:59big windows like that out onto the main road
0:30:59 > 0:31:01might not be ideal. But, at the moment,
0:31:01 > 0:31:04throwing lots of light in here, which we really like.
0:31:04 > 0:31:07Couple of original features - the fireplace there...
0:31:07 > 0:31:10Through to a sort of second front room.
0:31:10 > 0:31:13Again, not ideal that the rooms are right on that road there,
0:31:13 > 0:31:16right by the set of traffic lights, so not really brilliant.
0:31:16 > 0:31:19Clearly it's in a bit of a state.
0:31:19 > 0:31:22Um... Intriguing, I think is the word!
0:31:23 > 0:31:27Of course there's nothing you can do about the proximity of the road.
0:31:27 > 0:31:29Owing to its listed status,
0:31:29 > 0:31:32UPVC double glazing would be out of the question here,
0:31:32 > 0:31:35so replica windows will have to be made.
0:31:35 > 0:31:39Is there anything else that should make buyers hesitate to buy this?
0:31:39 > 0:31:43None of the door frames standard height.
0:31:43 > 0:31:46If you're tall, you'd be banging your head quite regularly.
0:31:46 > 0:31:50But it does give a certain sense of charm, as does things like this -
0:31:50 > 0:31:54the floor. Yorkshire stone, absolutely beautiful.
0:31:54 > 0:31:57The only issue is, it doesn't have a damp course, I would guess,
0:31:57 > 0:32:00and it's going to be expensive to do something about that.
0:32:00 > 0:32:02Maybe you'd take it up, which would be a shame,
0:32:02 > 0:32:05but that is the only way to get that important damp course in.
0:32:05 > 0:32:08- HE PLAYS A FEW NOTES - Piano, nice little touch...
0:32:08 > 0:32:11This, I imagine, at some stage was the kitchen,
0:32:11 > 0:32:13judging by the fireplace and things like that.
0:32:13 > 0:32:17At the moment, it's like the rest of the house, a bit higgledy-piggledy.
0:32:17 > 0:32:20You've got this lower-height ceiling in here,
0:32:20 > 0:32:23windows out onto a small courtyard. It is the natural place
0:32:23 > 0:32:25for the kitchen in the house to be.
0:32:25 > 0:32:29But there's a lot of work before you get to that stage.
0:32:29 > 0:32:33'So, there's flooring to be sorted along with damp-proofing.
0:32:33 > 0:32:36'The walls need to be skimmed and plastered.
0:32:36 > 0:32:38'The ceiling's seen better days,
0:32:38 > 0:32:41'and there's probably wood treatment to be done, too.
0:32:41 > 0:32:44'And that's just downstairs.'
0:32:44 > 0:32:46Upstairs here, my guess is that this was the flat
0:32:46 > 0:32:50associated with the shop downstairs. You've got a little room there,
0:32:50 > 0:32:52bedroom there, stairs up to the attic room.
0:32:52 > 0:32:56I'll come back to that. A living-room area there,
0:32:56 > 0:32:59and through to... Well, judging by the fact it's a sink,
0:32:59 > 0:33:02I guess this was where the kitchen was.
0:33:02 > 0:33:05As you can see, it's extremely basic, and it gets worse,
0:33:05 > 0:33:08cos there's also a door which leads onto the bathroom and loo.
0:33:08 > 0:33:11So, not ideal whatsoever.
0:33:11 > 0:33:15However, what this property does offer is options.
0:33:15 > 0:33:19You could potentially keep the unit downstairs as a commercial unit,
0:33:19 > 0:33:22you could convert upstairs into a much better presented flat,
0:33:22 > 0:33:25you could convert downstairs to a flat.
0:33:25 > 0:33:27But don't forget, this is a listed building,
0:33:27 > 0:33:31so all those things will have to have Building Regulations approval,
0:33:31 > 0:33:35planning permission and listed-buildings approval,
0:33:35 > 0:33:38so there's a lot of hoops to jump through.
0:33:38 > 0:33:41But there's a lot of property here, when you bear in mind
0:33:41 > 0:33:44it was guided at just £50,000.
0:33:44 > 0:33:48In addition to the first floor, there's also an attic space
0:33:48 > 0:33:51which could be converted, though that would take a lot of work.
0:33:51 > 0:33:54I'm not sure why there are concrete floors here.
0:33:54 > 0:33:57They definitely need to go. With the large bathroom,
0:33:57 > 0:34:00if you converted this into living accommodation,
0:34:00 > 0:34:04and move the kitchen downstairs, you could make a four-bed house
0:34:04 > 0:34:05with bags of character.
0:34:05 > 0:34:09SONG: "Jump" by Van Halen
0:34:10 > 0:34:14So, would it be worth jumping through all those hoops
0:34:14 > 0:34:18and splashing the cash, or is it too much work for too little return?
0:34:18 > 0:34:22What does the auctioneer who sold it think of this Grade II property?
0:34:22 > 0:34:27I look at this building, which is much larger than one would think
0:34:27 > 0:34:30when you come into it, that it could actually convert into two,
0:34:30 > 0:34:33the ground floor into a one-bed apartment.
0:34:33 > 0:34:37With the upper floor, which is largely what it is now,
0:34:37 > 0:34:42as residential accommodation, in fact it would make a three-bedroom maisonette.
0:34:42 > 0:34:47But the two-flat option would be much more complicated and costly.
0:34:47 > 0:34:49What sort of revenue could that earn?
0:34:49 > 0:34:52In the order of £100,000 for the ground floor,
0:34:52 > 0:34:55and then, for the maisonette, up to 125.
0:34:55 > 0:34:58And as a single house?
0:34:58 > 0:35:01Given the restrictions of location,
0:35:01 > 0:35:04lack of car parking, lack of amenity space,
0:35:04 > 0:35:08I think we're talking £125,000, £130,000.
0:35:09 > 0:35:11So, two flats could almost double the sale value,
0:35:11 > 0:35:14and significantly increase the rental return.
0:35:14 > 0:35:16'Um, for the house as a whole,
0:35:16 > 0:35:20'we're talking maximum £700 per calendar month.'
0:35:20 > 0:35:22As two units, the ground-floor apartment
0:35:22 > 0:35:25would let in the order of £500 a calendar month.
0:35:25 > 0:35:28The maisonette, which would have three bedrooms,
0:35:28 > 0:35:32would be 625 to possibly 650.
0:35:32 > 0:35:35Again, two seems better than one.
0:35:35 > 0:35:38But as the auction guide price was just £50,000,
0:35:38 > 0:35:40either approach could be a winner.
0:35:40 > 0:35:43But I still think this is a case of "buyer beware".
0:35:45 > 0:35:49Well, an interesting property for sure,
0:35:49 > 0:35:52but not one for the faint-hearted or inexperienced.
0:35:52 > 0:35:56This place could swallow money up like there's no tomorrow,
0:35:56 > 0:36:00and one thing for certain - because of the complications of the commercial unit,
0:36:00 > 0:36:03the fact that it's listed, it's well worth getting a solicitor
0:36:03 > 0:36:06to check out the legal pack before you buy.
0:36:06 > 0:36:09Let's see who went for it when it went to the auction.
0:36:12 > 0:36:15OK. Moving on, we come to Ripon now.
0:36:15 > 0:36:18We're skirting around North Yorkshire a bit, aren't we?
0:36:18 > 0:36:21So, two-storey, with a very, very useful attic.
0:36:21 > 0:36:23Somebody give me 40,000 for it.
0:36:23 > 0:36:2640 bid straight away. Thank you. At £40,000,
0:36:26 > 0:36:29and two at the back. 42. 44, will you, sir?
0:36:29 > 0:36:3144. 46, may I now?
0:36:31 > 0:36:33At 46. Will you make it eight, sir?
0:36:33 > 0:36:35At 48 bid. 48 bid. I'll take nine.
0:36:35 > 0:36:39Nine, new bidder. 49 against you, sir. Will you make it 50?
0:36:39 > 0:36:4250 is now bid. Against you, 51.
0:36:42 > 0:36:4452, may I now?
0:36:44 > 0:36:46At 52. 53.
0:36:46 > 0:36:48Four, will you? 54.
0:36:48 > 0:36:52Five, is it? 56, is it now? 56.
0:36:52 > 0:36:53Seven, may I? 57.
0:36:53 > 0:36:5758, will you now? 58 bid. 59, may I?
0:36:57 > 0:36:5860,000.
0:36:58 > 0:37:0061. 62.
0:37:00 > 0:37:0363. Will you make it four, sir?
0:37:03 > 0:37:0864. 65, may I? 65 is bid.
0:37:08 > 0:37:1066, sir? 66?
0:37:10 > 0:37:13And a half if you want it, sir. 66 and a half.
0:37:13 > 0:37:15Seven. 67. 67...
0:37:15 > 0:37:18And half again. 67 and a half.
0:37:18 > 0:37:2068, may I now?
0:37:20 > 0:37:2368 is bid. Eight and a half.
0:37:23 > 0:37:25Nine, may I?
0:37:25 > 0:37:29£68,500, gentleman standing. All out, seated.
0:37:29 > 0:37:32£68,500. All done?
0:37:33 > 0:37:35- HE TAPS HAMMER - It is yours, sir.
0:37:35 > 0:37:38Thank you very much. And the price is 68,500.
0:37:38 > 0:37:40So, for £68,500,
0:37:40 > 0:37:44the new owners of the Grade II listed corner shop in Ripon
0:37:44 > 0:37:47are Giles and Claire. I met them back at the property
0:37:47 > 0:37:49to hear about their plans.
0:37:52 > 0:37:55Giles, Claire, congratulations!
0:37:55 > 0:37:56- THEY LAUGH - Thank you!
0:37:56 > 0:37:58- Big property!- Yeah.
0:37:58 > 0:38:02- Big property for the price. - Yeah. Absolutely, for the price.
0:38:02 > 0:38:04Why did you want to buy it?
0:38:04 > 0:38:08Um, well, it was really to get on the market,
0:38:08 > 0:38:12to get on the market in the UK. This is the first property that we own.
0:38:12 > 0:38:14- HE CHUCKLES - Heck of a starter home!
0:38:14 > 0:38:17- Yeah, a good start. - OK. So, you talk about "in the UK".
0:38:17 > 0:38:20- Have you got...- We've got a property in the French Alps.
0:38:20 > 0:38:22Oh, wow!
0:38:22 > 0:38:26Yeah. It was just something that we've got as a base here, as well.
0:38:26 > 0:38:29How come you've got a property in the French Alps?
0:38:29 > 0:38:32We run a business there. We run a catered chalet.
0:38:32 > 0:38:36- Oh, great! Whereabouts? - In La Plagne, Montalbert. Yeah.
0:38:36 > 0:38:38Giles and Claire met in the French Alps.
0:38:38 > 0:38:41They'd always dreamt of running a chalet in France,
0:38:41 > 0:38:42and achieved that in 2004.
0:38:42 > 0:38:46But with that work being very seasonal,
0:38:46 > 0:38:48they decided they needed another project,
0:38:48 > 0:38:52an investment in the UK which they could work on for part of the year.
0:38:52 > 0:38:55SONG: "Ain't No Mountain High Enough" by Diana Ross
0:38:56 > 0:38:59With family and friends in the local area,
0:38:59 > 0:39:01Ripon seemed the ideal spot.
0:39:01 > 0:39:03But, boy, what a project they've taken on!
0:39:04 > 0:39:08- What experience have you got in this kind of thing?- I can paint!
0:39:08 > 0:39:11- I'm a painter and decorator. - Are you?- Yeah.
0:39:11 > 0:39:15- And Giles is a plasterer. - I'm a general builder by trade,
0:39:15 > 0:39:17- but plastering's my skill.- Oh, great!
0:39:17 > 0:39:20- OK.- So that'll keep me busy.
0:39:20 > 0:39:23I thought you were going to say, "I'm excellent at snowboarding,"
0:39:23 > 0:39:27and you were going to say, "I can do some fantastic parallel turns."
0:39:27 > 0:39:30But, no, you can plaster, and you can paint and decorate.
0:39:30 > 0:39:32That's brilliant. Can you both ski, though?
0:39:32 > 0:39:35Yes. Yeah. We can ski quite well, yeah.
0:39:35 > 0:39:37How well?
0:39:37 > 0:39:40Well, I've represented England, and...
0:39:40 > 0:39:42- Er... - THEY LAUGH
0:39:42 > 0:39:45- Oh, that well, then! - THEY LAUGH
0:39:45 > 0:39:47- Represented England in what? - In slalom.
0:39:47 > 0:39:49- Did you?- Yeah.
0:39:49 > 0:39:51Well, I think Giles's plastering skills
0:39:51 > 0:39:55and Claire's decorating ability might be more useful here.
0:39:55 > 0:39:57But it's going to be an uphill struggle
0:39:57 > 0:39:59to turn this property around.
0:39:59 > 0:40:01What are you going to do with it?
0:40:01 > 0:40:03We're going to have the kitchen downstairs.
0:40:03 > 0:40:07The shop front will be living area, lounge,
0:40:07 > 0:40:10um, and then upstairs...
0:40:10 > 0:40:13three, four double bedrooms,
0:40:13 > 0:40:17and, going into the attic, we'll just renovate that, as well,
0:40:17 > 0:40:21into maybe office space/bedroom.
0:40:21 > 0:40:23How much have you planned to spend?
0:40:23 > 0:40:27Um, probably 20, 25. I mean, a lot of the work -
0:40:27 > 0:40:31- Is going to be self-build. - Is going to be done between us,
0:40:31 > 0:40:33and family and a few friends,
0:40:33 > 0:40:36so hopefully we could keep it quite low.
0:40:36 > 0:40:38So, what about the legal pack?
0:40:38 > 0:40:42Yeah. That's one thing that we haven't got yet, so -
0:40:42 > 0:40:44- You haven't got yet?! - THEY LAUGH
0:40:44 > 0:40:47- You still haven't seen it? - No, we haven't.
0:40:47 > 0:40:50- You're supposed to read it before the auction.- Yeah, but...
0:40:50 > 0:40:54Especially somewhere like this, that's listed, part commercial...
0:40:54 > 0:40:57Yeah. It's one mistake that we did make,
0:40:57 > 0:40:59but we'll be fine.
0:40:59 > 0:41:02How dangerous a skier were you, when you used to ski?
0:41:02 > 0:41:04Pretty dangerous. THEY LAUGH
0:41:04 > 0:41:07Point down the hill, skis parallel, and zap!
0:41:07 > 0:41:09- That's the one, yeah.- Right.
0:41:09 > 0:41:13So, it looks like it's heads down and go for it.
0:41:13 > 0:41:15Let's hope it pays off!
0:41:15 > 0:41:17MUSIC: "Ski Sunday Theme"
0:41:19 > 0:41:24Well, Giles and Claire's enthusiasm is without doubt infectious.
0:41:24 > 0:41:28However, I am concerned about the amount of preparation they've done
0:41:28 > 0:41:32before they bought this place, and the hurdles that lie ahead.
0:41:32 > 0:41:35They haven't even read the legal pack,
0:41:35 > 0:41:37which could throw up all sorts of issues.
0:41:37 > 0:41:40It's listed, which WILL throw up all sorts of issues.
0:41:40 > 0:41:44And this place in general I think is going to be a bit of a money pit.
0:41:44 > 0:41:46It's going to be a slippery slope!
0:41:46 > 0:41:50Find out how they get on later in the show.
0:41:53 > 0:41:56It's been a while now since we last visited those properties.
0:41:56 > 0:41:59Now, there should have been some work done, but you never know.
0:41:59 > 0:42:04All sorts of problems can arise. What have our buyers had to deal with? Let's find out.
0:42:07 > 0:42:10Now, we set sail for Ryde on the Isle of Wight,
0:42:10 > 0:42:13and this two-bedroom first-floor maisonette.
0:42:16 > 0:42:18The leaky roof had caused damp,
0:42:18 > 0:42:22and its stale stench permeated through the property.
0:42:22 > 0:42:26But Helen, who has a nose for business and an eye for a bargain,
0:42:26 > 0:42:28purchased it for 63,000.
0:42:28 > 0:42:31She intended to renovate and let it out.
0:42:35 > 0:42:39Helen lives in London with her husband and their four children.
0:42:39 > 0:42:42The family also have a holiday home on the island.
0:42:42 > 0:42:47She intended to tackle the project with a mixture of work and play.
0:42:48 > 0:42:51I'm going to start doing the stripping off
0:42:51 > 0:42:54with maybe one or two children, hopefully.
0:42:54 > 0:42:57Not on the sunny days when we should be on the beach, though.
0:42:59 > 0:43:03Helen planned a complete makeover on this maisonette,
0:43:03 > 0:43:06which would be added to her burgeoning buy-to-let portfolio
0:43:06 > 0:43:09of ten properties.
0:43:13 > 0:43:17Four months later, we were back to take a look at her handiwork.
0:43:17 > 0:43:19SONG: "Hardworking Woman" by BB King
0:43:19 > 0:43:22# She's a hardworking woman
0:43:23 > 0:43:25# She works hard all the time...
0:43:28 > 0:43:31The kitchen is all new and shining bright,
0:43:31 > 0:43:35and, just as importantly, smells fresh.
0:43:35 > 0:43:38No traces of the dank odour of damp now!
0:43:39 > 0:43:42The kitchen's changed an awful lot, as you can see.
0:43:42 > 0:43:44Our first main problem was the wall here,
0:43:44 > 0:43:49which was an uneven return, so we had to level that all out
0:43:49 > 0:43:51to enable us to position the kitchen units
0:43:51 > 0:43:54on the floor and also on the wall.
0:43:54 > 0:43:59We then decided to come round fully in relation to the kitchen units.
0:43:59 > 0:44:04We chopped a bit into the window, introduced a window sill,
0:44:04 > 0:44:07and that enabled us to position the sink here.
0:44:07 > 0:44:09We extended the plumbing all around.
0:44:09 > 0:44:12We had one extra kitchen unit here as well,
0:44:12 > 0:44:14and I think that's worked really well.
0:44:17 > 0:44:21The once mildew-ridden lounge is now fresh, bright and airy.
0:44:21 > 0:44:24# What I like about that woman
0:44:25 > 0:44:28# She won't quit until the job is through #
0:44:29 > 0:44:32And Helen has added a lovely touch to the bay window.
0:44:33 > 0:44:36We introduced this window seat here
0:44:36 > 0:44:39because we had just a bit of a void space here at the window,
0:44:39 > 0:44:42and we thought that we could utilise it a bit better,
0:44:42 > 0:44:46so we built this here as a window seat,
0:44:46 > 0:44:48and some storage underneath,
0:44:48 > 0:44:51and so you can spend a bit of time
0:44:51 > 0:44:54looking out and enjoying the view.
0:44:56 > 0:45:01Helen set aside quite a large chunk of her £26,000 budget
0:45:01 > 0:45:03to repair the leaky roof.
0:45:03 > 0:45:06The section that was damp on the ceiling
0:45:06 > 0:45:08wasn't as bad as what we thought,
0:45:08 > 0:45:14so we just had to replace some tiles and some lead-work and some flashing,
0:45:14 > 0:45:16so that sorted the problem out.
0:45:17 > 0:45:23Money saved on the roof repairs was spent on ensuring a high-quality finish throughout.
0:45:23 > 0:45:27The bathroom has a new suite, plus new tiles on the floor...
0:45:29 > 0:45:30..and the walls,
0:45:30 > 0:45:33and a shower's been fitted.
0:45:34 > 0:45:37So, what was Helen's total outlay?
0:45:37 > 0:45:42The total budget is just slightly above 80,000,
0:45:42 > 0:45:45with the purchase of the flat and what I've put into it,
0:45:45 > 0:45:50so roughly £18,000 is what the cost has been to refurbish the flat.
0:45:53 > 0:45:57So, under budget. But did she come in under her four-month schedule?
0:45:58 > 0:46:04We started the work and finished probably within a six-week period,
0:46:04 > 0:46:07so we started and finished earlier than we thought,
0:46:07 > 0:46:08which was all good at the end.
0:46:08 > 0:46:12That's not bad - a developer who comes in under budget
0:46:12 > 0:46:14and ahead of schedule!
0:46:14 > 0:46:17But, as is evident from the quality of work,
0:46:17 > 0:46:22there's been no skimping on style, making it the model of success.
0:46:22 > 0:46:25But was Helen as successful at corralling her kids
0:46:25 > 0:46:27into lending a helping hand?
0:46:27 > 0:46:30From the outset, the children were very interested
0:46:30 > 0:46:34in seeing what was happening, so they were keen to choose the odd colour
0:46:34 > 0:46:36and the bathroom and the tiles,
0:46:36 > 0:46:39so it helped me in selecting things and buying things
0:46:39 > 0:46:44and transporting things, so they like to be involved, and we do things together.
0:46:44 > 0:46:48Helen has spent a total of 81,000 buying and renovating.
0:46:48 > 0:46:50Has she invested wisely?
0:46:50 > 0:46:53We asked two local estate agents for their opinions.
0:46:53 > 0:46:56Really, really surprised.
0:46:56 > 0:46:58It's lovely compared to the last time.
0:46:58 > 0:47:01The colour schemes are nice. It seems much lighter and brighter.
0:47:01 > 0:47:03She's done it very, very well.
0:47:03 > 0:47:06'The kitchen has wow-factor. The last time I saw it,
0:47:06 > 0:47:10'it was very dated. She's completely modernised the kitchen,
0:47:10 > 0:47:15'and she's placed a sink unit under the window, which is nice, so you've got a nice outlook.'
0:47:16 > 0:47:18The decorative schemes are very nice.
0:47:18 > 0:47:22They've steered away from a simple magnolia.
0:47:22 > 0:47:25And, of course, where it matters, the kitchen, the bathroom,
0:47:25 > 0:47:29they've put a lot of effort into.
0:47:30 > 0:47:34Bearing in mind Helen's total spend of 81,000,
0:47:34 > 0:47:37what could this property achieve if sold?
0:47:37 > 0:47:40The resale value of the property, I would say,
0:47:40 > 0:47:42would be in the region of £90,000.
0:47:42 > 0:47:45In the current market, my feeling is,
0:47:45 > 0:47:50the resale value of this property would be in the region of £95,000.
0:47:50 > 0:47:53Those valuations would mean a pre-tax profit
0:47:53 > 0:47:57of £9,000 to £14,000, if she sold it.
0:47:57 > 0:48:00But for Helen, this is all about rental returns.
0:48:02 > 0:48:05Based on the rental value of the property,
0:48:05 > 0:48:10I would suggest possibly £500 to £525 per calendar month.
0:48:10 > 0:48:13This property would have no problem achieving
0:48:13 > 0:48:18in the order of £525 per calendar month.
0:48:18 > 0:48:20In fact, Helen's done better than that,
0:48:20 > 0:48:23and got a tenant in at £600 a month.
0:48:23 > 0:48:27So not only has she delivered this property under budget
0:48:27 > 0:48:30and ahead of schedule, it's also bringing in a decent income.
0:48:30 > 0:48:32With their holiday home on the island
0:48:32 > 0:48:34and now with this property as well,
0:48:34 > 0:48:37might the family eventually relocate to the Isle of Wight?
0:48:37 > 0:48:41# Welcome to my little island...
0:48:41 > 0:48:44I would like to see us coming here eventually, yes.
0:48:44 > 0:48:48It's not going to be in the near, near future cos my children are still at school.
0:48:48 > 0:48:52# Welcome to my little island...
0:48:52 > 0:48:57So maybe someday it might be her family's permanent base.
0:48:57 > 0:49:00But for now, it's a destination for work and play.
0:49:00 > 0:49:04# Welcome to my little island #
0:49:07 > 0:49:10The city of Ripon in North Yorkshire
0:49:10 > 0:49:13has an abundance of old and historic properties.
0:49:13 > 0:49:17Some of them are in good condition, and others, if not quite ruins,
0:49:17 > 0:49:20have definitely seen better days.
0:49:20 > 0:49:25And that was the case for this 17th-century Grade II listed former shop and flat
0:49:25 > 0:49:27not far from the city centre.
0:49:27 > 0:49:29Built before the advent of the motor car,
0:49:29 > 0:49:33it was on a busy road, and had windows, floors and doors
0:49:33 > 0:49:37from another age. With its rather higgledy-piggledy layout,
0:49:37 > 0:49:41turning it around would be an uphill struggle for most people.
0:49:41 > 0:49:44But for married couple Giles and Claire,
0:49:44 > 0:49:47tackling a mountain of work was nothing new.
0:49:47 > 0:49:50Yeah. We've got a property in the French Alps.
0:49:50 > 0:49:51Oh, wow!
0:49:51 > 0:49:55Yeah. It was just something that we've got as a base here, as well.
0:49:55 > 0:49:58How come you've got a property in the French Alps?
0:49:58 > 0:50:02- We run a business there. We run a catered chalet.- Oh, great!
0:50:02 > 0:50:06Having paid 68,000 to get a foothold in the UK market,
0:50:06 > 0:50:09and armed with an £11,000 budget,
0:50:09 > 0:50:13former top slalom skier Giles and his wife Claire
0:50:13 > 0:50:17set about turning the old shop and flat into one large home.
0:50:17 > 0:50:2114 months later, we're back to see the results.
0:50:21 > 0:50:25MUSIC: "Ski Sunday Theme"
0:50:25 > 0:50:28Well, the outside's a big improvement,
0:50:28 > 0:50:31with snowy white walls and a new black front door,
0:50:31 > 0:50:34while inside...
0:50:35 > 0:50:38Well, on the face of it, it's not quite so impressive.
0:50:38 > 0:50:40But, as with any assault on a mountain,
0:50:40 > 0:50:43the key to success is preparation.
0:50:43 > 0:50:46OK. As you can see, one of the major changes
0:50:46 > 0:50:48was opening up this wall,
0:50:48 > 0:50:51cos we like the idea of open-plan living.
0:50:51 > 0:50:54Um, and then the other change was,
0:50:54 > 0:50:58we had to, er, take up the old floor,
0:50:58 > 0:51:00one, because of damp issues.
0:51:00 > 0:51:03We took out about five tons of rubble,
0:51:03 > 0:51:07DPC'd and insulated it and put the Indian slate down,
0:51:07 > 0:51:11and now it's just waiting to be plastered and finished.
0:51:11 > 0:51:15So in fact the amount of work done here is deceptive.
0:51:15 > 0:51:17They've made structural changes, rewired,
0:51:17 > 0:51:20re-plumbed and damp-proofed throughout.
0:51:20 > 0:51:23By moving the kitchen downstairs, they've altered the layout,
0:51:23 > 0:51:25so there are now four bedrooms upstairs.
0:51:25 > 0:51:30But owing to the Grade II listing, there were some things they couldn't change.
0:51:30 > 0:51:34With the windows, we decided to make them good ourselves,
0:51:34 > 0:51:38because they'd be too expensive if we got brand-new ones.
0:51:38 > 0:51:40So we burnt off all the old paintwork,
0:51:40 > 0:51:45then sanded them down, filled them and painted them,
0:51:45 > 0:51:48and then we got somebody to help us re-weight them
0:51:48 > 0:51:52and re-cord them, and they've come up pretty good.
0:51:52 > 0:51:55They're good. We're pleased with them.
0:51:56 > 0:52:01Stripping and repainting windows is time-consuming.
0:52:01 > 0:52:05This means there are unfinished bathrooms and an attic space
0:52:05 > 0:52:07where the concrete floor's been removed,
0:52:07 > 0:52:09but it's some way off being habitable.
0:52:09 > 0:52:13Similarly, the outside area is work in progress.
0:52:13 > 0:52:17OK. So, what we did was, we had to replace an old rotten oak beam,
0:52:17 > 0:52:23so we took that out, got some strongboys and supported the wall,
0:52:23 > 0:52:26put a separate lintel here for the door,
0:52:26 > 0:52:30and then we had to put a lintel over the window as well.
0:52:30 > 0:52:34As Giles and Claire run a chalet business in the French Alps,
0:52:34 > 0:52:37they're only here for part of the years,
0:52:37 > 0:52:41so they've made good progress in the four to five months they've worked on the building.
0:52:41 > 0:52:44- How much have they been here? - All the time.
0:52:44 > 0:52:46- Giles was, all the time. - This is, I mean...
0:52:46 > 0:52:49The only guys that we've actually had in
0:52:49 > 0:52:54to do the major works is the people doing the floor.
0:52:54 > 0:52:58I got some specialists who worked with groundworks.
0:52:58 > 0:53:01That was it, really. The rest is all myself...
0:53:01 > 0:53:05- Friends and family.- My brother unfortunately was out of a job,
0:53:05 > 0:53:08so he... I got him in straight away.
0:53:08 > 0:53:11And my father's good at electricals,
0:53:11 > 0:53:15so he was helping our friend who was doing the electrical bit.
0:53:15 > 0:53:19But unfortunately my father fell through the floorboards
0:53:19 > 0:53:22- in the bathroom, but he was OK. - THEY LAUGH
0:53:22 > 0:53:25He didn't actually end up in the kitchen.
0:53:34 > 0:53:37With friends and relatives dropping in to help,
0:53:37 > 0:53:39quite literally in Claire's father's case,
0:53:39 > 0:53:43they should have been able to keep their costs down.
0:53:43 > 0:53:48I think at the moment we're up to £11,000.
0:53:48 > 0:53:53And I would like to say that we won't go over £25,000.
0:53:53 > 0:53:55A £25,000 spend
0:53:55 > 0:53:58on top of their £68,500 purchase price,
0:53:58 > 0:54:00plus other costs,
0:54:00 > 0:54:03means the couple will have spent about £100,000
0:54:03 > 0:54:05by the time it's all done.
0:54:05 > 0:54:08Then it would be a four-bed house with a family bathroom
0:54:08 > 0:54:11and office space. But will all their efforts be worth it?
0:54:11 > 0:54:15What do two local property experts think of progress so far?
0:54:15 > 0:54:18The work that's been done has been very sympathetic
0:54:18 > 0:54:21and in keeping with the property, done to a very high standard.
0:54:21 > 0:54:23Obviously there's plenty still to do,
0:54:23 > 0:54:26but if the general standard is kept to that level,
0:54:26 > 0:54:28it'll be a fantastic family house.
0:54:28 > 0:54:30I think the only negatives are the fact
0:54:30 > 0:54:35that the parking will be difficult, plus the busy main road outside.
0:54:35 > 0:54:39However, there are plans afoot to possibly pedestrianise the area.
0:54:39 > 0:54:42That would be fantastic if it happens,
0:54:42 > 0:54:44and, long-term, would add value.
0:54:44 > 0:54:49I really like the open-plan aspects that immediately hit you.
0:54:49 > 0:54:51The breakfast-kitchen will be fantastic,
0:54:51 > 0:54:55and the open plan into what will be the family area.
0:54:55 > 0:54:59Going up onto the next two floors, excellent accommodation,
0:54:59 > 0:55:02and very much look forward to seeing it once it's completed.
0:55:04 > 0:55:07Encouraging comments, but will the lack of parking and garden
0:55:07 > 0:55:09limit its rental potential?
0:55:12 > 0:55:15If the property was modernised to a high standard,
0:55:15 > 0:55:20I could see it fetching between £800 and £900 per calendar month for rental.
0:55:20 > 0:55:25I think you're looking between £600 and £650 per calendar month.
0:55:25 > 0:55:27- Well, that's good. - That is very good.
0:55:27 > 0:55:30- Yeah. Yeah. Pleased with that. - That's really good!
0:55:30 > 0:55:34Even a rental of £600 a month on a £100,000 investment
0:55:34 > 0:55:37would mean a yield of over seven percent.
0:55:37 > 0:55:41That's not bad. How would it fare if resold?
0:55:41 > 0:55:43I think if the work was finished,
0:55:43 > 0:55:45and it was presented to a good standard,
0:55:45 > 0:55:49you'd be looking at a figure between £170,000 and £180,000.
0:55:49 > 0:55:54I think once renovated, you're looking between £175,000 and £190,000.
0:55:54 > 0:55:57- That's good as well. - Yeah. I really like that.
0:55:57 > 0:55:59Yeah. Brilliant!
0:55:59 > 0:56:02Wow! No wonder they're pleased. That could be a pre-tax profit
0:56:02 > 0:56:04of between £70,000 and £90,000.
0:56:04 > 0:56:07With the skiing season fast approaching,
0:56:07 > 0:56:09it will be time to down tools and up sticks -
0:56:09 > 0:56:13or should that be ski poles? When they return six months later,
0:56:13 > 0:56:16will they turn it into their home or sell it on?
0:56:16 > 0:56:19We might live in it for a little while,
0:56:19 > 0:56:23and then rent it. See what happens, really, won't we?
0:56:23 > 0:56:28Yeah. Yeah. I think a good idea would be to live in it for a few years.
0:56:28 > 0:56:32SONG: "Slip Slidin' Away" by Paul Simon
0:56:35 > 0:56:39Well, whether it becomes their home or just an investment property,
0:56:39 > 0:56:42in terms of the amount of work here, for the most part
0:56:42 > 0:56:44it should be all downhill from here.
0:56:48 > 0:56:50In the ever-changing world of property,
0:56:50 > 0:56:52there is always something new to learn,
0:56:52 > 0:56:54and we'll have more advice for you next time.
0:56:54 > 0:56:58- So join us then for more Homes Under The Hammer.- Goodbye.
0:56:58 > 0:57:02Subtitles by Red Bee Media Ltd
0:57:02 > 0:57:06E-mail subtitling@bbc.co.uk
0:57:06 > 0:57:06.