0:00:02 > 0:00:04Hello. If you've ever been tempted to go to an auction,
0:00:04 > 0:00:06perhaps now is the time to take the plunge.
0:00:06 > 0:00:08There is so much variety in the catalogues.
0:00:08 > 0:00:11Yes, every month there are literally thousands of lots on offer.
0:00:11 > 0:00:13So, why not nip down to your local auction house
0:00:13 > 0:00:15and check out an auction?
0:00:40 > 0:00:43Buying at auction is a great way to get good value for money.
0:00:43 > 0:00:46Essential, especially if you're starting a business.
0:00:46 > 0:00:49Now, if you've done your research, you've managed to get
0:00:49 > 0:00:52your finances available, well, you should make quite a success of it.
0:00:52 > 0:00:56So, here's what people invested in on today's show.
0:00:58 > 0:01:01There aren't too many structural problems at this semi
0:01:01 > 0:01:06in Leigh in Lancashire. Just quite a lot of tarting up.
0:01:07 > 0:01:10If you're after a secluded riverside location,
0:01:10 > 0:01:14this auction lot in Middlesex might just float your boat.
0:01:14 > 0:01:17How exciting would it be to live here?
0:01:17 > 0:01:21And this terraced house in Burton-on-Trent, Staffordshire
0:01:21 > 0:01:23could be designed for bigger and better things.
0:01:23 > 0:01:27I've been thinking about it, and I think we might have the solution.
0:01:28 > 0:01:32All these properties have been sold at auction, and we will find out
0:01:32 > 0:01:35who bought them and what they paid for them
0:01:35 > 0:01:37- when they went under the hammer.- Sold.
0:01:40 > 0:01:45Today, I'm in the town of Leigh in the Metropolitan Borough of Wigan.
0:01:45 > 0:01:49Once an industrial town, like many others in the North West
0:01:49 > 0:01:52it now relies on smaller businesses and retail.
0:01:52 > 0:01:54It's currently undergoing some regeneration,
0:01:54 > 0:01:58with a 10,000-seater stadium and sports village being built,
0:01:58 > 0:02:01as well as quite a lot of updating of its housing stock.
0:02:03 > 0:02:06Well, the property I'm here to see is about a mile from the town centre
0:02:06 > 0:02:08in this nice residential area.
0:02:08 > 0:02:11A former local-authority house at a guide price of 60,000 quid,
0:02:11 > 0:02:14which for a three-bed semi ain't at all bad.
0:02:14 > 0:02:15This is it.
0:02:15 > 0:02:19It looks like it needs a bit of tender loving care from the outside.
0:02:19 > 0:02:23What's it like inside? There's only one way to find out.
0:02:27 > 0:02:30Oh, dear. That's not the most welcoming entrance I've ever seen.
0:02:30 > 0:02:33Major problem with the stairs, one of the risers has gone.
0:02:33 > 0:02:35The whole staircase looks like it's in need of
0:02:35 > 0:02:37a bit of sorting out!
0:02:38 > 0:02:41Maybe the house will get better as we go further in.
0:02:44 > 0:02:46Or maybe not. OK, it doesn't look too good.
0:02:46 > 0:02:48We've got double glazing, though, which is good.
0:02:48 > 0:02:53Central heating looks a bit old. Gas fire definitely needs replacing.
0:02:53 > 0:02:56I'm seeing a mess. What I've got to try and determine is
0:02:56 > 0:03:00whether there's anything structural going on here as well,
0:03:00 > 0:03:01because it could just be a lick of paint,
0:03:01 > 0:03:04new plasterwork, and that would be fine.
0:03:04 > 0:03:06But you move through to the kitchen...
0:03:06 > 0:03:09No, I have decided it is in a bit of a mess.
0:03:09 > 0:03:11The layout, however, works quite well.
0:03:11 > 0:03:14You've got that living-room area at the front.
0:03:14 > 0:03:17This kitchen, small though it is, I like that it sort of flows
0:03:17 > 0:03:20through into this dining room, and then you've got the patio doors
0:03:20 > 0:03:23out onto the garden. So, in terms of major structural work,
0:03:23 > 0:03:24I don't think there's too much
0:03:24 > 0:03:29knocking down of walls to be done, just quite a lot of tarting up.
0:03:30 > 0:03:36# I've seen better things... #
0:03:36 > 0:03:38I think this is a case where looks are deceptive,
0:03:38 > 0:03:42because if you got the whole place replastered, replaced the kitchen,
0:03:42 > 0:03:47central heating and maybe the windows, this house would be fine.
0:03:47 > 0:03:49Well, downstairs at least.
0:03:49 > 0:03:53So, upstairs, and good news - you've got a reasonable-sized bathroom.
0:03:53 > 0:03:56It needs refurbishment, like everything else,
0:03:56 > 0:03:59but at least it's in the right place, and it's not a bad size.
0:03:59 > 0:04:00Bit of an odd layout, this, though.
0:04:00 > 0:04:03This corridor leading down to two of the bedrooms
0:04:03 > 0:04:05just doesn't quite work,
0:04:05 > 0:04:07and then your third bedroom, not exactly massive.
0:04:07 > 0:04:09I actually would probably call this a single.
0:04:09 > 0:04:13Again, it's just in need of a real good sort-out. So, to sum up,
0:04:13 > 0:04:19not a bad house, it just needs some work.
0:04:22 > 0:04:24This'll need work from floor to ceiling,
0:04:24 > 0:04:28but there's nothing that a good team of tradesmen couldn't tackle.
0:04:28 > 0:04:32Most of it's cosmetic, and there don't appear to be any signs of
0:04:32 > 0:04:36structural problems - or did I speak too soon?
0:04:36 > 0:04:40So, round the back, and a real bonus to what I think could be
0:04:40 > 0:04:43a lovely family house - a nice, big garden.
0:04:43 > 0:04:45Now, it is in a bit of a state, but a good weekend out here
0:04:45 > 0:04:48with a strimmer, I think you'd sort it.
0:04:48 > 0:04:52That doesn't concern me. What does concern me more is
0:04:52 > 0:04:56just down here, where the soil pipe actually goes into the ground,
0:04:56 > 0:04:59you can see that all those flagstones have actually dropped.
0:04:59 > 0:05:03Now, my concern is maybe there's a problem with the sewer under there.
0:05:03 > 0:05:06Anything underground like that that's a problem is going to be
0:05:06 > 0:05:07kind of expensive to sort out.
0:05:07 > 0:05:11So, definitely get that checked out by a specialist.
0:05:13 > 0:05:16So, there are some structural worries here, but perhaps
0:05:16 > 0:05:18they're reflected in the £60,000 guide price.
0:05:18 > 0:05:21What does a local estate agent think?
0:05:24 > 0:05:27Obviously needs a lot of work.
0:05:27 > 0:05:29I feel with a good £10,000 spent on the property,
0:05:29 > 0:05:32then it would be a good investment overall.
0:05:32 > 0:05:35Would it be worth spending £10,000 on this property
0:05:35 > 0:05:37that was guided at 60,000?
0:05:38 > 0:05:41'In my opinion, this property would rent out
0:05:41 > 0:05:43'for £475 per calendar month.'
0:05:43 > 0:05:49Once renovated, I would value this property at £65,000 to £70,000.
0:05:50 > 0:05:54So, on the resale market, there might not be much potential profit,
0:05:54 > 0:05:58but as a rental, this house could work very well financially.
0:05:58 > 0:06:02Well, more than a weekend's work to sort this one out, for sure,
0:06:02 > 0:06:05but what you've got here intrinsically is a solid house
0:06:05 > 0:06:08in a good area, and I think a nice house to live in,
0:06:08 > 0:06:09or good rental potential.
0:06:09 > 0:06:12Let's see who went for it when it went under the hammer.
0:06:16 > 0:06:19Lot 119 next. I'm asking you for 10,000.
0:06:19 > 0:06:25£10,000. 10 I've got there. Can I say 15? 15 right at the front.
0:06:25 > 0:06:2720, 25, 30.
0:06:27 > 0:06:3130, sir. 35. Do you want to give me 32 at the front?
0:06:33 > 0:06:3634, 36? 35. 35?
0:06:37 > 0:06:4336, 37, 38, 39. It's with you, sir, at 38.
0:06:43 > 0:06:45I'm looking for 39.
0:06:45 > 0:06:48Are we all finished at 38? No, we're not. 39 right at the back.
0:06:48 > 0:06:5540, 41, 42, 43, sir? Shaking his head. 42 on my right.
0:06:55 > 0:06:58Looking for 43. I'm going to sell for 42.
0:06:58 > 0:07:03On my right for the first time. 43. 44, 45, sir?
0:07:03 > 0:07:06No? At £44,000 on my right. First time at 44.
0:07:06 > 0:07:08Second time at 44.
0:07:08 > 0:07:1245. New bidder.
0:07:12 > 0:07:1646. 47? 47? Just the one bid?
0:07:18 > 0:07:22It's with you, sir, at 46. Are we finished at £46,000?
0:07:22 > 0:07:23First time at 46.
0:07:23 > 0:07:25Second time at £46,000.
0:07:28 > 0:07:30Sold to you, sir, and paddle number is...?
0:07:30 > 0:07:36And, incredibly, for £14,000 below the guide price, at 46,000,
0:07:36 > 0:07:41the successful bidders were David and his business partner Wendy.
0:07:41 > 0:07:43She joined me at the Leigh property to explain
0:07:43 > 0:07:48why they wanted this house for their rapidly-expanding portfolio.
0:07:48 > 0:07:51- Wendy, lovely to meet you. - Nice to meet you.- Congratulations.
0:07:51 > 0:07:53How lucky am I?!
0:07:53 > 0:07:56- Well, you got it for a lot less than the guide price.- I did.
0:07:56 > 0:08:0146,000, which is a good buy when you look at the prices of the houses
0:08:01 > 0:08:03on this street. So, I'm quite pleased.
0:08:03 > 0:08:07- It obviously isn't your first time at auction, then?- No.
0:08:07 > 0:08:09I go to auctions in London,
0:08:09 > 0:08:11I go to every auction in the North West.
0:08:11 > 0:08:17- Every?- Yes, every auction, just to double-check prices
0:08:17 > 0:08:21and what areas and what prices are going for.
0:08:21 > 0:08:23Right. So, tell me about you, then.
0:08:23 > 0:08:24This is what you do full-time, or what?
0:08:24 > 0:08:28I do this full-time. I've got 73 houses now.
0:08:28 > 0:08:29- 73?!- Yeah.
0:08:29 > 0:08:33How long has it taken you to get that together?
0:08:33 > 0:08:34- One year.- What?!
0:08:34 > 0:08:38One year. I've done it in one year.
0:08:38 > 0:08:4273 in just a year? Amazing! That's more than one a week!
0:08:42 > 0:08:46In fact, Wendy and David often buy five or six houses at each auction.
0:08:46 > 0:08:49For Wendy, this is a completely new departure,
0:08:49 > 0:08:54because she's previously worked in retail buying and customer services.
0:08:54 > 0:08:56It's thanks to her business partner David that
0:08:56 > 0:08:58this property spending spree has been possible.
0:08:58 > 0:09:01So, I guess what's stopping a lot of people doing what you've done
0:09:01 > 0:09:04is the money. So, how did you get started on it?
0:09:04 > 0:09:07Two or three houses, I can see how you might have refinanced,
0:09:07 > 0:09:11even in difficult times, but you need a chunk to start with.
0:09:11 > 0:09:16David had a computer company, and he sold the computer company.
0:09:16 > 0:09:19- So, in the bank, the interest rate is 1%.- Yeah.
0:09:19 > 0:09:23Right? So, why have your money in the bank at 1%
0:09:23 > 0:09:28when we're getting back 8 to 12% on every house?
0:09:28 > 0:09:32So, what do you look for in the auctions, then, when you're buying?
0:09:32 > 0:09:38Cheap! We buy cheap that we can do up and our workmen can go in.
0:09:40 > 0:09:42But we stick with the same areas.
0:09:42 > 0:09:46We've got accreditations with Wigan, Bolton, Burnley, Bury and Salford,
0:09:46 > 0:09:51so I'm in with all the councils.
0:09:51 > 0:09:54As an accredited landlord with several local authorities,
0:09:54 > 0:09:57she knows there's a high demand for rental homes
0:09:57 > 0:10:00and a good supply of council-vetted tenants.
0:10:00 > 0:10:03In fact, Wendy and David are so confident in their business plan,
0:10:03 > 0:10:05they've bought 26 houses in this area.
0:10:05 > 0:10:08Did you actually come in the house before you bought it?
0:10:08 > 0:10:10Did I heck! I didn't walk in it.
0:10:10 > 0:10:12I don't usually walk in at most of the houses.
0:10:12 > 0:10:16- Why not?- I just look at the street, look at the house.
0:10:16 > 0:10:20It's got a roof on, it's got the walls, I'm OK!
0:10:20 > 0:10:23It's like going getting a tin of beans!
0:10:23 > 0:10:26Don't worry about it, we'll get there in the end!
0:10:26 > 0:10:29Did it disappoint or surprise when you walked through the door
0:10:29 > 0:10:32- for the first time? - I laughed, because we've got
0:10:32 > 0:10:34a patio door out to the garden - quite a luxury!
0:10:37 > 0:10:42This is quite good. A bit of plaster on, a bit of rewiring.
0:10:42 > 0:10:46We've got a good team, they'll come in here, in six weeks this will be
0:10:46 > 0:10:50a brand-new house, and it will be ready for a family to move into.
0:10:51 > 0:10:55Wendy's given herself a budget of £16,000 to turn this place
0:10:55 > 0:10:57into that family home.
0:10:57 > 0:10:59What's the goal, then, where do you stop?
0:10:59 > 0:11:02We want to sell about 20 houses this year
0:11:02 > 0:11:06so we keep the pot full with money.
0:11:06 > 0:11:08We all need money at the end of the day.
0:11:08 > 0:11:14This year, we're working on buying about another 30 houses.
0:11:14 > 0:11:18The phenomenal success of their business means
0:11:18 > 0:11:19they now employ a team of 12 builders.
0:11:19 > 0:11:22Although she's been renovating property for just over a year,
0:11:22 > 0:11:26Wendy ensured she knew all aspects of the building trade
0:11:26 > 0:11:27from the start.
0:11:29 > 0:11:32I went to Salford College to learn how to be a bricklayer.
0:11:32 > 0:11:37- Really?!- Painter-decorator, so that when I did go into this
0:11:37 > 0:11:40and I asked for a price on a job,
0:11:40 > 0:11:43they couldn't rip me off because I'm a woman.
0:11:43 > 0:11:45If you don't take a chance in life, you're never going to do it.
0:11:45 > 0:11:50It's no good sitting at home thinking in ten years, "I wish I'd done this."
0:11:50 > 0:11:53You've got to do it now, and that's how I look at life.
0:11:53 > 0:11:56- Listen, lovely to meet you, congratulations.- Nice to meet you.
0:11:56 > 0:11:59In general, and on this particular one!
0:11:59 > 0:12:01We look forward to seeing how you get on.
0:12:01 > 0:12:02See you in six weeks!
0:12:06 > 0:12:08Well, how about that? A crash course in everything
0:12:08 > 0:12:12you need to know about being a property investor successfully.
0:12:12 > 0:12:14Wendy, what a year!
0:12:14 > 0:12:17How's she going to get on with this place?
0:12:17 > 0:12:19Well, I think you know the answer.
0:12:19 > 0:12:21You can find out later in the show.
0:12:25 > 0:12:27I have come ready for anything today,
0:12:27 > 0:12:29as it's a rather unusual location.
0:12:29 > 0:12:32Here in the town of Sunbury-on-Thames is
0:12:32 > 0:12:35a series of little islands in the middle of the river.
0:12:35 > 0:12:38Wheatley's Ait is the one our lot is on today,
0:12:38 > 0:12:43and we've got to cross this little bridge to get there.
0:12:45 > 0:12:49You certainly don't get too many properties with an approach
0:12:49 > 0:12:52like this. Strolling past the swans and the fishermen,
0:12:52 > 0:12:55this misty morning is making it all enticingly mysterious.
0:12:58 > 0:13:03So, what have I come to see in this idyllic spot on an island?
0:13:04 > 0:13:06Well, it's this wooden chalet behind me.
0:13:06 > 0:13:10It's timber frame, it's raised above the ground on stilts.
0:13:10 > 0:13:14It's a quirky one all right, but how exciting would it be to live here?!
0:13:14 > 0:13:18Well, I know it was up for auction with a guide of 135 plus,
0:13:18 > 0:13:21and from a distance I think it might have been the setting
0:13:21 > 0:13:24that sold this one, but I love it already.
0:13:24 > 0:13:28# Hi-tiddly-hi-ti island, everybody wears a smile
0:13:28 > 0:13:32# Hi-tiddly-hi-ti island, everybody lives in style... #
0:13:32 > 0:13:35'It's certainly a beautiful setting, but it would be too easy
0:13:35 > 0:13:38'to let your heart rule your head in a location like this,
0:13:38 > 0:13:41'so let's not get carried away.
0:13:42 > 0:13:45'First, we'd better see whether this two-bedroom property
0:13:45 > 0:13:46'lives up to its promise.'
0:13:46 > 0:13:50Let's have a look around this funny little chalet.
0:13:50 > 0:13:54You can see on the inside it just needs so much work doing to it.
0:13:54 > 0:13:55I'm not sure how safe this place is,
0:13:55 > 0:13:59so I'm not going to investigate further, but you can see there are
0:13:59 > 0:14:01a few little rooms off this one big room.
0:14:01 > 0:14:05You've got a kitchen and a bathroom, and a funny little space over here,
0:14:05 > 0:14:08but it does have a really old, romantic feel to it.
0:14:08 > 0:14:11And look at that, unbelievable view. Look, the stream!
0:14:12 > 0:14:15You know, this could be a wonderful house, but I do know,
0:14:15 > 0:14:18having purchased a building like this before,
0:14:18 > 0:14:21that this is non-typical construction.
0:14:21 > 0:14:24What I mean by that is that it's not made of brick or stone walls
0:14:24 > 0:14:26with a slate or tiled roof.
0:14:26 > 0:14:29Now, another example of that would be a prefabricated house
0:14:29 > 0:14:32which was built during and post-war as cheap housing.
0:14:32 > 0:14:36The danger is, mortgage companies don't usually like lending
0:14:36 > 0:14:41on these type of homes, so for this, cash-only buyers need apply.
0:14:44 > 0:14:46Past the kitchen, there's a good-sized bedroom,
0:14:46 > 0:14:48but that sloping floor suggests
0:14:48 > 0:14:52there's a fair bit of structural work to be done here.
0:14:52 > 0:14:56# Goes around the island, goes around the island... #
0:14:56 > 0:15:02The place has obviously been empty for a while and I think it might be best just to knock it down and start
0:15:02 > 0:15:03all over again.
0:15:03 > 0:15:08You know there is something so charming about the idea of a veranda.
0:15:08 > 0:15:11Picture it, sitting outside with your partner, watching
0:15:11 > 0:15:15the sunset in a rocking chair with a nice hot steaming cup of tea.
0:15:15 > 0:15:18It's very Little House On The Prairie, isn't it?
0:15:18 > 0:15:23Well, with our English weather I think that's not going to be possible all that often
0:15:23 > 0:15:30but it really is a lovely feature and possibly the nicest thing about this property. You know, I'm sold.
0:15:30 > 0:15:35Practically speaking, it's not the house but the location that counts.
0:15:35 > 0:15:37This auction lot came with just over a quarter acre of land.
0:15:37 > 0:15:41It's definitely room for rebuilding.
0:15:41 > 0:15:46So, this is every house builder's dream
0:15:46 > 0:15:51but I can see there might be trouble with getting planning permission because of its isolated location
0:15:51 > 0:15:56and the tricky fact about it being in a significant flood risk area.
0:15:56 > 0:15:59But, hopefully, the planners will rule in favour of a rebuild if
0:15:59 > 0:16:04the new house is in the footprint of the existing one.
0:16:04 > 0:16:06This is certainly no average house.
0:16:06 > 0:16:09Time to get the opinion of a local estate agent to hear where
0:16:09 > 0:16:12island properties like this would sit on the market.
0:16:14 > 0:16:18One of the disadvantages of living on the island is access.
0:16:18 > 0:16:21You can't bring a car here or any building materials.
0:16:21 > 0:16:26You have to walk and carry everything unless you bring it by barge.
0:16:26 > 0:16:32The building's beyond economical repair so would have to be dismantled and removed from the area.
0:16:32 > 0:16:38Subject to planning permission, you could build a very nice chalet bungalow.
0:16:38 > 0:16:45The cost approximately would be anything between £150,000 to £250,000.
0:16:45 > 0:16:49Bearing in mind that guide price of £135,000,
0:16:49 > 0:16:53you'll need the best part of £300,000 to undertake this project.
0:16:53 > 0:16:57How much is it likely to be worth once you've knocked down the old building and replaced it with
0:16:57 > 0:17:01a new structure.
0:17:01 > 0:17:04Depending on the quality of the build and to what standard it is,
0:17:04 > 0:17:11my estimate would be anything between £325,000 to £400,000.
0:17:11 > 0:17:14Surely once the property is complete
0:17:14 > 0:17:17people would be queuing up to rent the place.
0:17:17 > 0:17:25The rental market at the moment is very good and I suspect they would get anything up to £1,200 a month.
0:17:25 > 0:17:29Well, living on an island is certainly most people's dream
0:17:29 > 0:17:32but I wouldn't class this one as a tropical paradise.
0:17:32 > 0:17:37But, it's a stunning location and I can see why it would appeal to
0:17:37 > 0:17:41many people looking for privacy and an escape from the city.
0:17:41 > 0:17:44However, the property itself is not so promising.
0:17:44 > 0:17:47Whoever bought this would be running the risk of both
0:17:47 > 0:17:53the house flooding and problems getting planning permission to knock it down and rebuild in its place.
0:17:53 > 0:17:56Who wanted it despite all those challenges?
0:17:56 > 0:17:58Let's find out as it went under the hammer.
0:18:01 > 0:18:03Move on to lot 85.
0:18:03 > 0:18:07£150,000 anywhere. OK, 150...
0:18:07 > 0:18:10I've got, how much 151... OK 152...
0:18:10 > 0:18:17153...sir, on my right, 154...155...
0:18:17 > 0:18:24156...157...158...159...160...
0:18:24 > 0:18:28161...162...163...
0:18:28 > 0:18:30This island property has obviously
0:18:30 > 0:18:32captured the hearts of lots of bidders.
0:18:32 > 0:18:37The guide price of £135,000 has already been left far behind.
0:18:37 > 0:18:41We rejoin at a whopping £240,000.
0:18:41 > 0:18:44240...241...
0:18:47 > 0:18:53OK. Bid's with the gentleman on my left by the door, it's £240,000.
0:18:53 > 0:18:58It's against the gentleman who was sitting there, he's gone.
0:18:58 > 0:19:03240...for the first, 240... for the second. How much? 241...
0:19:03 > 0:19:04242...
0:19:07 > 0:19:09242...
0:19:11 > 0:19:12243...
0:19:15 > 0:19:16243, 244...
0:19:17 > 0:19:20245...
0:19:20 > 0:19:24By the door, 245. If not...
0:19:24 > 0:19:25No.
0:19:25 > 0:19:31He's gone. It's with you, the bid's £244,000 against the gentleman.
0:19:31 > 0:19:33He's gone somewhere.
0:19:33 > 0:19:37244 for the first, 244 for the second,
0:19:37 > 0:19:40244 for the third and final time, are we all done.
0:19:40 > 0:19:43Sold, £244,000. Well bought.
0:19:43 > 0:19:50After that epic battle the successful bidders with nerves of steel
0:19:50 > 0:19:53were newly-wed couple John and Michelle.
0:19:53 > 0:19:58Former hotel manager John and doctor Michelle paid £244,000
0:19:58 > 0:20:04for their island hideaway. I can't wait to hear why they wanted the property so much.
0:20:04 > 0:20:08Guys, congratulations I'm so happy for you.
0:20:08 > 0:20:12Do you know what I love? I just can't wipe those big smiles off your faces.
0:20:12 > 0:20:15You both looked so happy on auction day.
0:20:15 > 0:20:17Absolutely, it's fantastic.
0:20:17 > 0:20:20John what is the story behind you buying this plot?
0:20:20 > 0:20:23I want to know all the background.
0:20:23 > 0:20:25Well, there was no great plan in place at all.
0:20:25 > 0:20:30We viewed it on a Saturday, on Saturday night we just kept talking about it and we had a look at all the
0:20:30 > 0:20:36legal documents and we looked through everything and there was a huge amount. We thought will we, won't we?
0:20:36 > 0:20:41We didn't have any funds to buy and we thought where will we get the money
0:20:41 > 0:20:48because we just got married and funds were very, very tight to say the least.
0:20:48 > 0:20:54Effectively, we had to borrow off all of our friends to get a deposit and sell our car.
0:20:54 > 0:20:56Do you think it was worth the money?
0:20:56 > 0:21:00- Yeah.- Absolutely, it's a privilege to live by the river
0:21:00 > 0:21:04and it's also a privilege in an almost rural environment.
0:21:04 > 0:21:08It's like something from Wind In The Willows. It's gorgeous.
0:21:08 > 0:21:13I admit I am as much in love with the place as John and Michelle but I'm not the one
0:21:13 > 0:21:18who has to knock this old shack down and build a new home in its place.
0:21:18 > 0:21:23# Love shack is a little old place where we can get together... #
0:21:24 > 0:21:26Thankfully, John's background
0:21:26 > 0:21:30is in the construction industry and he'll be doing the work himself.
0:21:30 > 0:21:35I've dealt with the more traditional materials like concrete and block but not something on stilts.
0:21:35 > 0:21:40I'm very excited about building on stilts and we know this area floods.
0:21:40 > 0:21:43So, that will be a little bit of a challenge and getting the materials
0:21:43 > 0:21:46onto the site will be a challenge because we can only access the site by river.
0:21:46 > 0:21:52We're going to get very creative and we're going to dig deep and be very resourceful.
0:21:52 > 0:21:57We hope to go for an eco home, a timber-framed home, something
0:21:57 > 0:22:04that has a very interesting and nice design and is a sustainable home.
0:22:04 > 0:22:06So, come on what is the budget?
0:22:06 > 0:22:09I'd like to say we can put something together for £50,000.
0:22:09 > 0:22:12£50,000 to build a house?
0:22:12 > 0:22:15Obviously building a house and having a house on this island
0:22:15 > 0:22:19does have a ceiling price. Are you worried about that at all?
0:22:19 > 0:22:24We're not worried at all because this is a home it was never bought or going to be built as an investment.
0:22:24 > 0:22:28It's going to be home, such a special wonderful you'd never want to sell it, you'd want to
0:22:28 > 0:22:34pass it down to your family for years and years and let them have the same enjoyment that we hope to have here.
0:22:34 > 0:22:40#Island of love.. #
0:22:40 > 0:22:45I think it's fair to say that John and Michelle have fallen hook, line and sinker for this place.
0:22:45 > 0:22:50They paid way over the guide price, have a tiny budget and to top it all
0:22:50 > 0:22:53they don't even know if they can build anything here at all.
0:22:53 > 0:22:55So, you haven't got planning permission yet.
0:22:55 > 0:22:58- No.- to build anything at all.
0:22:58 > 0:23:04- No.- So, at worse you could possibly build exactly the same footprint as you have at the moment.
0:23:04 > 0:23:08Yes. And even that wouldn't be the worse case scenario because
0:23:08 > 0:23:13we'd get to live in a beautiful place so, which to us is a great...
0:23:13 > 0:23:14Still a great-case scenario.
0:23:14 > 0:23:18Do you know what? I am so happy for you two, congratulations.
0:23:18 > 0:23:22You deserve to live in a place like this.
0:23:22 > 0:23:24- Thank you very much. - Thank you very much.
0:23:24 > 0:23:31John and Michelle have fallen hard for this place, well the location to be exact.
0:23:31 > 0:23:34And it seems to have bewitched them into paying well over the guide price.
0:23:34 > 0:23:38But John sounds very capable of getting something built here instead of the chalet.
0:23:38 > 0:23:41I really hope when we come back there is a fantastic
0:23:41 > 0:23:44eco home here in its place but only time will tell.
0:23:44 > 0:23:47And, do you know what? The pressure is on.
0:23:47 > 0:23:52You can find out if they succeed with their plans later in the show.
0:23:52 > 0:23:57Coming up - this Burton-on-Trent house really could do with a change of layout.
0:23:57 > 0:23:58What are the options?
0:23:58 > 0:24:01Not sure, need to think about that.
0:24:01 > 0:24:08We return to Sunbury, Middlesex, to find out what limitations there are living on an island.
0:24:08 > 0:24:12Every last inch or millimetre was used to the best of our ability.
0:24:14 > 0:24:18But first back to Leigh in Lancashire to discover the secret of Wendy's success.
0:24:18 > 0:24:22Enjoy it, it's good, I love it.
0:24:26 > 0:24:29Just outside Wigan, Lancashire, in the town of Leigh
0:24:29 > 0:24:33we came across a very rundown three bed semi-detached house.
0:24:33 > 0:24:36This property was in a terrible state but had one
0:24:36 > 0:24:40overriding appealing feature, a guide price of just £60,000.
0:24:40 > 0:24:46It was that price and the area that it was in that attracted local developers David and Wendy.
0:24:46 > 0:24:50They snatched it up for just £46,000
0:24:50 > 0:24:52to add to their rapidly expanding portfolio.
0:25:02 > 0:25:05- I've got 73 houses now.- 73?- Yeah.
0:25:05 > 0:25:09How long as it taken you to get that together? What?
0:25:09 > 0:25:11One year.
0:25:11 > 0:25:13I've done it in one year.
0:25:13 > 0:25:18It was thanks to her business partner David selling his computer business that the pair
0:25:18 > 0:25:22had enough capital to go on a property spending spree and as they have
0:25:22 > 0:25:29accreditation from a number of local councils, they have a ready market of tenants for their finished houses.
0:25:29 > 0:25:32In fact, they can't acquire properties fast enough.
0:25:32 > 0:25:38So, has property number 73 been brought up to standard? Well, just two months on we're back.
0:25:47 > 0:25:53With a new front door and reinvigorated off road parking area, it's looking good from the outside.
0:25:53 > 0:25:56But the main challenges were inside.
0:25:56 > 0:26:04This house had holes from every bedroom ceiling down to this floor, this ground floor.
0:26:04 > 0:26:10All the plaster was off the walls, the windows had been broken.
0:26:10 > 0:26:16The garden, we didn't even know it was that big until we actually got in the garden and cut it down.
0:26:18 > 0:26:24That wild, uncared-for garden can now be seen in its true colours as a lovely family garden.
0:26:24 > 0:26:28The patio doors no longer lead from a crumbling,
0:26:28 > 0:26:32stripped down back room but from a completely renovated space.
0:26:32 > 0:26:36That equally sorry front lounge has
0:26:36 > 0:26:39also undergone a total transformation.
0:26:48 > 0:26:51But perhaps it's the kitchen that's the star of the show.
0:26:51 > 0:26:55We've replaced the kitchen completely.
0:26:55 > 0:27:01We've designed it so there's a working area and you can use it as a bench for eating.
0:27:01 > 0:27:10New cooker, new sink, new boiler, everything, lights and it's got a ceiling now.
0:27:19 > 0:27:20So, the kitchen's a great success.
0:27:20 > 0:27:24The changes continue upstairs in the three bedrooms.
0:27:31 > 0:27:37With new plaster work throughout, radiators, decor and carpets.
0:27:39 > 0:27:44A brand new bathroom suite completes the refurbishment but where on earth
0:27:44 > 0:27:48- do you start when faced with such a mammoth task?
0:27:50 > 0:27:55The first thing was mainly drying out the house and then from that we started
0:27:55 > 0:28:01the plastering as we had holes upstairs and we plastered from top to bottom.
0:28:01 > 0:28:04And that had to dry out.
0:28:04 > 0:28:09Then we started with the boiler, radiators
0:28:09 > 0:28:12and then windows, doors,
0:28:12 > 0:28:18new kitchen, new bathroom to how it is now.
0:28:18 > 0:28:21We went back after eight weeks but all the work
0:28:21 > 0:28:27was in fact completed in just six weeks by the 12 people Wendy employs to do all her properties.
0:28:27 > 0:28:31I call them the A Team, the team that work for me are brilliant.
0:28:31 > 0:28:33I would back them to the hilt.
0:28:33 > 0:28:35Absolutely fantastic team.
0:28:35 > 0:28:43We've got good electrician, Corgi, plasterer and the foreman he's the best worker you could ever get.
0:28:45 > 0:28:51We might not work on one house at a time - we'll be working on two or three houses at a time.
0:28:51 > 0:28:54So, when one jobs done they go onto the next job.
0:28:58 > 0:29:02I guess when you've bought and renovated 73 properties in a year
0:29:02 > 0:29:05you have to keep everyone moving from one place to the other.
0:29:05 > 0:29:08Not only is it more efficient it keeps your costs down.
0:29:09 > 0:29:12We did spend £15,000 on the house
0:29:12 > 0:29:17and we got all the jobs done within a six-week period, which I planned on.
0:29:17 > 0:29:22So, overall I'm really pleased at the result.
0:29:22 > 0:29:26Wendy might be pleased but with a £15,000 spend on the house
0:29:26 > 0:29:28she bought at auction for £46,000
0:29:28 > 0:29:33plus costs and fees, she's invested around £63,000.
0:29:33 > 0:29:37Will two local estate agents be equally impressed?
0:29:37 > 0:29:39First impressions are very good.
0:29:39 > 0:29:41The refurb's been done to a good standard.
0:29:41 > 0:29:46Considering the location and type of property they've not gone overboard.
0:29:46 > 0:29:50It's got a really nice kitchen, a modern bathroom and really plain and simple decoration throughout.
0:29:50 > 0:29:51It's good.
0:29:54 > 0:29:56The property is done to a good standard,
0:29:56 > 0:30:00in keeping with the area and a credit to the purchasers.
0:30:00 > 0:30:05Wendy rents most of the properties to the local council at an agreed rental rate.
0:30:05 > 0:30:10In this case for a three bed house it would be £495 a month.
0:30:10 > 0:30:14How comparable is that to the current market rates?
0:30:14 > 0:30:19From a rental point of view we're probably looking in the region of £425 per calendar month.
0:30:19 > 0:30:24You could rent this property out for around £475 to £495 per calendar month.
0:30:24 > 0:30:26So, it seems she's getting a good rental deal.
0:30:26 > 0:30:30But how does it stack up as an investment with Wendy investing
0:30:30 > 0:30:34around 63,000 to get this house back up to standard.
0:30:34 > 0:30:39In the current market the property would probably resell for something in the region of £75,000.
0:30:39 > 0:30:45You would put this on the market for around £75,000 and hope to achieve something quite close to that.
0:30:45 > 0:30:48I put it on the market two weeks ago and now,
0:30:48 > 0:30:54very happy, we've sold it for 75, for the full asking price.
0:30:54 > 0:30:58People can move in, they don't have to do anything; it's ready for them to move in.
0:30:58 > 0:31:05That's not bad, a potential pre-tax profit of £10,000 to £12,000 for six weeks work.
0:31:05 > 0:31:10What's the secret of Wendy's success?
0:31:10 > 0:31:16To have a good team behind you, so that you work on a budget and your budget works right at the end.
0:31:16 > 0:31:21Set a time and work to that scale of time.
0:31:21 > 0:31:24And, enjoy it, it's good.
0:31:24 > 0:31:26I love it.
0:31:26 > 0:31:29# You can get it if you really want
0:31:29 > 0:31:34# But you must try, try and try
0:31:34 > 0:31:35# Try, try
0:31:35 > 0:31:38# You'll succeed at last. #
0:31:38 > 0:31:43Wendy's target this year is to reach a total of 100 houses, and with her
0:31:43 > 0:31:47'you can do it' attitude I'm sure she's going to get there.
0:31:51 > 0:31:55I'm in Burton on Trent, Staffordshire, in the very centre of England.
0:31:55 > 0:31:58It's often thought of as the brewing capital of Great Britain because
0:31:58 > 0:32:02at one time a quarter of all beer sold in the UK was brewed here.
0:32:02 > 0:32:07So, will the property I'm here to see be the real deal, or a bit of a home brew?
0:32:07 > 0:32:13Well, the property I'm here to see is on this street of terraced houses, very typical of the area.
0:32:13 > 0:32:17It's described in the auction catalogue as having two plus bedrooms.
0:32:17 > 0:32:21I'm not sure what a plus bedroom is but I guess I'm about to find out.
0:32:21 > 0:32:23This is it. Guide price was £59,000.
0:32:23 > 0:32:28Let's take a look. It looks pretty neat from the front. Although there's no off street parking,
0:32:28 > 0:32:33it's on one of the quieter roads so there's plenty of room to park.
0:32:33 > 0:32:38Oh, that's a nice surprise. Nice big open plan living room/dining area I suppose.
0:32:38 > 0:32:43Somebody's obviously done a bit of refurbishment on this place in the past and created this one big area.
0:32:43 > 0:32:45I like it actually. I'm not sure about the fireplace
0:32:45 > 0:32:47and all that kind of stuff but that's easy to change.
0:32:47 > 0:32:50An odd little storage cupboard under the stairs there.
0:32:50 > 0:32:55Actually it looks as though it continues to be quite pleasant as you go through to the kitchen.
0:32:55 > 0:32:57The units look reasonably serviceable.
0:32:57 > 0:33:02A bit grubby inside the doors there but over all not a bad sized space.
0:33:02 > 0:33:05A small area there where you could put like a kitchen table.
0:33:05 > 0:33:08Perfectly serviceable. It looks like the boiler's reasonably OK.
0:33:08 > 0:33:11So, all in all a good start.
0:33:18 > 0:33:22The laminate floor is reasonably modern and the decor isn't bad.
0:33:22 > 0:33:24I'm not sure whether anything could be done
0:33:24 > 0:33:28with the cupboard under the stairs, probably best left as storage.
0:33:28 > 0:33:31Anyway, I want to check out the bedroom situation now.
0:33:31 > 0:33:34So upstairs, huge bedroom at the front,
0:33:34 > 0:33:40reasonable sized bedroom there and then down and through this dark and dingy corridor to the plus bedroom.
0:33:40 > 0:33:46Basically it is a small room which you walk through to get to the only bathroom in the property.
0:33:46 > 0:33:49Clearly it's not ideal.
0:33:49 > 0:33:51So, what are the options?
0:33:51 > 0:33:54Not sure, need to think about that.
0:34:00 > 0:34:03It's a frustrating layout because you have the space
0:34:03 > 0:34:06but it just isn't utilised very well.
0:34:06 > 0:34:09On the up side it's always best to have the bathroom on the first floor
0:34:09 > 0:34:11but it seems such a waste to lose a whole room.
0:34:11 > 0:34:13I'm still pondering this one.
0:34:13 > 0:34:16So, at the rear of the property there's an added bonus.
0:34:16 > 0:34:20A reasonable sized garden and this which is basically, I think...
0:34:20 > 0:34:23I thought it was a loo, actually it's not,
0:34:23 > 0:34:26it's just a storage little area with another one there.
0:34:26 > 0:34:29Obviously when I see this, what am I thinking?
0:34:29 > 0:34:33Could this somehow be incorporated into the main part of the house,
0:34:33 > 0:34:36maybe the kitchen, maybe a double storey extension.
0:34:36 > 0:34:39That could get over the issue of the bathroom upstairs, perhaps.
0:34:39 > 0:34:43Give you a chance to jiggle things around which I think it really needs. The only fly in the ointment
0:34:43 > 0:34:49is that this bit here is a shared access pathway for people to get their bins in and out.
0:34:49 > 0:34:53You couldn't extend along here or rather any further than this.
0:34:53 > 0:34:57Apart from that, thinking about it, I think we might have the solution.
0:34:57 > 0:35:03Of course you'd have to consult the planning department to check whether you could go up one level.
0:35:03 > 0:35:06But if you had that extra space you could relocate the bathroom
0:35:06 > 0:35:11and convert the current bathroom and walk through room into a narrow third bedroom.
0:35:11 > 0:35:15You'd have to weigh up whether the work would be worth it against the value it would add.
0:35:15 > 0:35:19The guide price for this property was £59,000.
0:35:19 > 0:35:21What will a local estate agent make of it?
0:35:21 > 0:35:23Terraced properties do have various layouts
0:35:23 > 0:35:25and this one is no different.
0:35:25 > 0:35:31Upstairs you've obviously got to access the third bedroom,
0:35:31 > 0:35:34into the bathroom, which isn't always ideal.
0:35:34 > 0:35:37Quite often people would turn that into a dressing room or a study,
0:35:37 > 0:35:41that kind of thing, or maybe a baby's room.
0:35:41 > 0:35:45It seems it wouldn't be possible to put a false wall in or anything like that
0:35:45 > 0:35:50and I would just leave the same, possibly create a dressing room of some description.
0:35:50 > 0:35:55I'm still convinced you could extend and make a third bedroom but let's talk cash.
0:35:55 > 0:35:58How much could this property rent out for?
0:35:58 > 0:36:01Rental wise it would comfortably let out, possibly as it is
0:36:01 > 0:36:06at this moment, in the region of £450 per calendar month.
0:36:06 > 0:36:11With a little bit of upgrading it may increase to perhaps £475 per calendar month.
0:36:11 > 0:36:15If it was sold on how would it do in today's market?
0:36:15 > 0:36:19I would imagine if somebody did spend perhaps £7,000 or £8,000
0:36:19 > 0:36:22that the asking price would be in the region of £80,000.
0:36:22 > 0:36:26So, all in all a good little property that I think,
0:36:26 > 0:36:30apart from finding a way of turning the plus bedroom into a proper bedroom,
0:36:30 > 0:36:32you should pretty much leave well alone.
0:36:32 > 0:36:34A good rental or a great place to live.
0:36:34 > 0:36:37Let's find out who bought it when it went under the hammer.
0:36:40 > 0:36:43Over in Burton on Trent, lot number 12,
0:36:43 > 0:36:47start me on this where you like. 56, to start, £56,000...
0:36:47 > 0:36:4956 is bid there, thank you.
0:36:49 > 0:36:54At £56,000, 57, somewhere else, the opening bid is 56, 57...
0:36:54 > 0:36:5758 is bid.
0:36:57 > 0:37:00At 59. Thank you.
0:37:00 > 0:37:0360 is bid at the back, at 60, 61...
0:37:03 > 0:37:05Sir, stick with it. At 61, 62...
0:37:05 > 0:37:1061,500...
0:37:10 > 0:37:13Treat you to the same, 62...
0:37:13 > 0:37:16£62,000, 500 again.
0:37:16 > 0:37:20At £62,000 against you at the back, no mistakes.
0:37:20 > 0:37:22All done, for the first time at 62...
0:37:22 > 0:37:25For the second time at 62...
0:37:25 > 0:37:29Third and last chance, sold to you, sir, at £62,000. Thank you.
0:37:29 > 0:37:32The successful bid of £62,000 came from Chris.
0:37:32 > 0:37:35He has turned his hand to property developing
0:37:35 > 0:37:39since retiring from the brewery trade just under two years ago.
0:37:39 > 0:37:43I met up with him at his new purchase to chat about his plans.
0:37:43 > 0:37:48Chris, congratulations. Tell me why you wanted to buy the house?
0:37:48 > 0:37:51I've got some properties already.
0:37:51 > 0:37:54Not been to an auction before, thought I'd give that a try.
0:37:54 > 0:37:58I was looking to get something at the right price, but it had to be in
0:37:58 > 0:38:01Burton on Trent because I don't want to travel too far.
0:38:01 > 0:38:04- Right.- And to do it up with a view to selling it on.
0:38:04 > 0:38:07A hobby of mine is the DIY side of it really.
0:38:07 > 0:38:10So, I just do it for a bit of fun.
0:38:10 > 0:38:12If you can make a few bob as well its even better.
0:38:12 > 0:38:14Do you work at the same time?
0:38:14 > 0:38:21No, I'm retired. I took retirement early from the breweries a couple of years ago now
0:38:21 > 0:38:26to spend more time scuba diving actually but I ended up doing a bit of this as well.
0:38:26 > 0:38:28Scuba diving, that's a hobby is it?
0:38:28 > 0:38:32It's a bit more than a hobby now because I'm an instructor as well, so I teach at weekends.
0:38:32 > 0:38:39Also I'm an underwater photographer so go off to exotic places round the world taking photos of fish.
0:38:41 > 0:38:44Clearly Chris is a man of many talents
0:38:44 > 0:38:46but what are his plans for this place?
0:38:46 > 0:38:50I wonder, will he be putting his heart and soul into it?
0:38:50 > 0:38:52What do you plan to do with it then?
0:38:52 > 0:38:58You'll have noticed the windows don't match the door, so I'll tidy everything up into white windows.
0:38:58 > 0:39:02This floor will come up. The whole place will be redecorated.
0:39:02 > 0:39:05- What's wrong with the floor? - It's a bit tatty and loose in places.
0:39:05 > 0:39:08I like better quality than this.
0:39:08 > 0:39:11I'll put a new kitchen. Although the kitchen looks OK I'm going to put a new kitchen in.
0:39:11 > 0:39:15New bathroom in as well and make the room through towards the bathroom
0:39:15 > 0:39:19into a dressing room, because you've got to go through it to get to the bathroom.
0:39:19 > 0:39:22It's a bit of a dead space otherwise, I think.
0:39:22 > 0:39:26- And what about downstairs, here? - Downstairs I'm going to knock through into those two little
0:39:26 > 0:39:30outhouses there and make that into a downstairs toilet set up off the back of the kitchen there.
0:39:30 > 0:39:34- So, how much of the work are you going to do yourself? - All of it. Well, most of it.
0:39:34 > 0:39:40I'll get a plasterer in to do the plastering because my plastering looks like a five year old did it.
0:39:40 > 0:39:43It's a really tough job.
0:39:43 > 0:39:47If there's any significant electrics to be done I'll get that done as well.
0:39:47 > 0:39:51And the actual potential extension at the back, are you happy
0:39:51 > 0:39:53to take that on, dig the foundations, put the thing up?
0:39:53 > 0:39:55Yeah, I'll have a go at that.
0:39:55 > 0:40:00Chris doesn't seem fazed by much and by doing most of it himself he'll save a lot of money.
0:40:00 > 0:40:05So, what's he got to spend on this project?
0:40:05 > 0:40:09I think I can turn this place round for about £8,000
0:40:09 > 0:40:12and I paid £62,000 at the auction for it.
0:40:12 > 0:40:16So, anything I can get towards the £80,000 make a nice little profit.
0:40:16 > 0:40:18And what kind of timescale of got for what you're going to do?
0:40:18 > 0:40:23I think I could get I done in about eight or ten weeks I think.
0:40:23 > 0:40:28But I've got weekends tied up teaching diving and also a trip
0:40:28 > 0:40:32planned in eight weeks' time to go to Sulawesi, underwater photography.
0:40:32 > 0:40:34- Wow.- So, that will be a bit special.
0:40:34 > 0:40:36So, that's going to take some time out as well.
0:40:36 > 0:40:41I guess three to four months by the time we get it onto the market.
0:40:41 > 0:40:44And moving forward?
0:40:44 > 0:40:47Once this one's sold I'll look for another one.
0:40:47 > 0:40:49Go back to another auction.
0:40:49 > 0:40:52Do you actually enjoy the physical work?
0:40:52 > 0:40:54Yeah, well, it's a challenge.
0:40:54 > 0:40:57I set myself little challenges in life and this is one of them.
0:40:57 > 0:40:59Congratulations, well done.
0:40:59 > 0:41:02Good luck with it. Look forward to seeing how you get on.
0:41:02 > 0:41:03Absolutely.
0:41:03 > 0:41:07Well, Chris has certainly got a great property to practise
0:41:07 > 0:41:09his enthusiastic DIY on
0:41:09 > 0:41:13but I can't help thinking that he's missing a trick
0:41:13 > 0:41:15by not finding some way of relocating the bathroom
0:41:15 > 0:41:18and trying to get three bedrooms out of this property.
0:41:18 > 0:41:20Will he change his mind
0:41:20 > 0:41:23or will taking photographs of fish take priority?
0:41:23 > 0:41:27You can find out later in the show.
0:41:29 > 0:41:34Well, work should be well underway on our properties now as there has been plenty of time to do it.
0:41:34 > 0:41:38So, will there be brick dust and ladders all over the place?
0:41:38 > 0:41:39Let's go back and find out.
0:41:39 > 0:41:45Time now to return to a place I just adored when I first visited,
0:41:45 > 0:41:48a wonderful island near Sunbury on Thames.
0:41:56 > 0:42:00It was here down by the River Thames amongst the ducks
0:42:00 > 0:42:04and other wildlife, I came across and old chalet.
0:42:04 > 0:42:08It was only good for one thing, and that was demolition
0:42:08 > 0:42:10but there was a decent chance that permission could be obtained
0:42:10 > 0:42:13to replace what wasn't much more than a large wooden shack.
0:42:13 > 0:42:17Newly wed couple John and Michelle dug deep into their finances
0:42:17 > 0:42:23and called in a few favours from friends to buy the plot and building for £244,000.
0:42:23 > 0:42:27This was to acquire this dream location for a chance to build a home,
0:42:27 > 0:42:29not just for now but for their future.
0:42:35 > 0:42:38It was never bought or going to be built as an investment.
0:42:38 > 0:42:41Its going to be home, a wonderful place, you'd never want to sell it,
0:42:41 > 0:42:44you'd want to pass it down to your family for years and years
0:42:44 > 0:42:47and let them have the same enjoyment that we hope to have here.
0:42:47 > 0:42:51Michelle was born in Germany and is a qualified doctor
0:42:51 > 0:42:53while John's originally from Dublin.
0:42:53 > 0:42:56Although he's worked as a hotel manager for the last six years
0:42:56 > 0:42:59he had previous experience in the building trade.
0:42:59 > 0:43:01One of their friends is an architect
0:43:01 > 0:43:04so they hoped they could build an eco-friendly property
0:43:04 > 0:43:08worthy of its location, but with finances tight and a proposed budget
0:43:08 > 0:43:15of around £50,000, could they turn this ugly duckling into a swan?
0:43:20 > 0:43:22Well, a full 16 months on,
0:43:22 > 0:43:25we're back, and, boy, have things changed.
0:43:25 > 0:43:32Where once was a falling down shack there's now a striking modern two bedroom abode
0:43:32 > 0:43:34fit for 21st century living.
0:43:34 > 0:43:38And a new home isn't the only new addition here.
0:43:43 > 0:43:49John and Michelle are now proud parents of three month old Marcus but working on a new build
0:43:49 > 0:43:53and the arrival of a baby can't have been easy.
0:43:57 > 0:44:01Very tough because while I was heavily pregnant, it was winter time,
0:44:01 > 0:44:07we had the snow coming in and you didn't have all of your warm clothes ready to put on
0:44:07 > 0:44:11and you had to buy new things as well because of the big tummy.
0:44:11 > 0:44:17It was quite tough, but then when Marcus arrived, it was just great, it was lovely.
0:44:17 > 0:44:22The arrival of baby Marcus added to the pressure for John to finish off the build.
0:44:22 > 0:44:29It seems now they've only got just enough bedrooms with one of them being Marcus's room.
0:44:29 > 0:44:36Then there's the master bedroom, complete with a rather fabulous en suite.
0:44:40 > 0:44:46Eventually there will also be a high quality family bathroom when it's finished.
0:44:46 > 0:44:49From the inside, it looks like a conventional home,
0:44:49 > 0:44:52albeit one that's finished off to a high standard.
0:44:52 > 0:44:58It's only from outside that you realise how radically different it is.
0:44:58 > 0:45:04As you can see, a condition of our planning was that the house must be built on stilts.
0:45:04 > 0:45:07It's in an area liable to flood so, in the event of a flood,
0:45:07 > 0:45:11water must be able to flow through the site unimpeded.
0:45:11 > 0:45:16Hence you have the quite narrow stilts rising up into the main structure,
0:45:16 > 0:45:19which is also an architectural detail of the building as well
0:45:19 > 0:45:22which gives it quite a dramatic impact, I think, anyway.
0:45:22 > 0:45:28Not only is the structure built to withstand flooding but it also has impressive green credentials.
0:45:28 > 0:45:31Thermally, it's ultra efficient.
0:45:31 > 0:45:34Almost half a metre of insulation in the roof.
0:45:34 > 0:45:38The walls are over 200 ml deep. Also you can see the floor.
0:45:38 > 0:45:42This is the original floor level here and then the internal floor level is here,
0:45:42 > 0:45:46so as you can see it's about 200 and then plus my floor level.
0:45:46 > 0:45:49So, we have over 200 ml of insulation in the floors as well.
0:45:49 > 0:45:54The exterior structure has been designed to a very high specification
0:45:54 > 0:45:59and the same level of creative thought and detail has gone into the interior design.
0:45:59 > 0:46:03It's to be as usable as absolutely possible.
0:46:03 > 0:46:08So, every last inch or millimetre was used to the best of our ability
0:46:08 > 0:46:11in accordance with what we would like to use the house as.
0:46:11 > 0:46:15The kitchen's important, we love cooking, the storage area is important
0:46:15 > 0:46:19if you like cooking as well and everything needs to be close at hand.
0:46:19 > 0:46:26So, we've designed a slightly larger kitchen than usual but every single piece of it is essential.
0:46:26 > 0:46:32Every piece of it may be essential but every piece of it had to be brought on site -
0:46:32 > 0:46:33no simple matter on an island.
0:46:33 > 0:46:38It was a little bit of a challenge to get materials on site
0:46:38 > 0:46:44because mostly the materials arrived by barge so logistically it was... can be a little bit difficult.
0:46:44 > 0:46:50If a barge wasn't available well then we had to go the old fashioned way with wheelbarrows
0:46:50 > 0:46:53and had to wheel everything down a lane-way onto the site
0:46:53 > 0:46:56but what doesn't kill you makes you stronger.
0:46:56 > 0:47:01Hiring barges to transport materials and building a high specification designer home
0:47:01 > 0:47:03isn't likely to come cheap.
0:47:03 > 0:47:09I'd expect John's original 50 grand budget has floated off down the river by now.
0:47:09 > 0:47:12I haven't quite worked out how much it has cost me
0:47:12 > 0:47:15but certainly when you build something yourself
0:47:15 > 0:47:19you can build it substantially cheaper than if you had a main contractor in.
0:47:19 > 0:47:25It would be very difficult for me to work out how much I've spent
0:47:25 > 0:47:29but it certainly wasn't too expensive for what we have achieved.
0:47:30 > 0:47:34John's a little coy on how much he spent but I guess
0:47:34 > 0:47:37it's a tad over that original £50,000 budget.
0:47:37 > 0:47:40His view is you can't put a value on this house
0:47:40 > 0:47:42but we know two people who can.
0:47:42 > 0:47:45So, what do they make of this amazing eco house by the river.
0:47:45 > 0:47:50It's fantastic, absolutely wonderful.
0:47:50 > 0:47:52It's bright, it's been finished.
0:47:52 > 0:47:57It's impeccable. Everything he's used, he hasn't, erm...
0:47:57 > 0:48:02He's really thought about the quality of it and it's just stunning.
0:48:02 > 0:48:08I think it's a very unique property, it's eco friendly.
0:48:08 > 0:48:12It's got very unusual and unique features about it.
0:48:12 > 0:48:18Lots of natural products have been used in the flooring, for example, and it's a fantastic setting.
0:48:18 > 0:48:25John and Michelle bought the site for £244,000, but John doesn't want to say how much they spent on it.
0:48:25 > 0:48:30Even so, what could this unique property command on the resale market?
0:48:30 > 0:48:37I'd put this on the current market for £595,000.
0:48:37 > 0:48:41We would put this on the market for £575,000.
0:48:41 > 0:48:42It's a home.
0:48:42 > 0:48:47If you're running a business and that's your business to buy houses and renovate them
0:48:47 > 0:48:51and sell them on, then yes, but we're not so concerned about the valuation.
0:48:51 > 0:48:54Even if it was a purchase made from the heart,
0:48:54 > 0:48:59with those current valuations, I still think it's probably a decent investment too.
0:48:59 > 0:49:03But have they turned what was a great plot with a dilapidated shack
0:49:03 > 0:49:07into a place they can now call their home?
0:49:07 > 0:49:12- Michelle, does it feel like home? - Absolutely.- Yeah, definitely.
0:49:12 > 0:49:13It's great here, we love it.
0:49:13 > 0:49:17It's very peaceful, very relaxing, and it's a calming house to live in.
0:49:38 > 0:49:43And for John, Michelle and baby Marcus, it really does seem
0:49:43 > 0:49:45there's no other place they'd rather be.
0:49:49 > 0:49:52Now we're back in Burton on Trent, Staffordshire,
0:49:52 > 0:49:58where this two-bed terraced house sold at auction for £62,000.
0:49:58 > 0:50:03It was bought by Chris who has been enjoying some property developing since his retirement
0:50:03 > 0:50:05from the brewery industry about two years ago,
0:50:05 > 0:50:09although there's definitely something else he'd rather be doing.
0:50:10 > 0:50:15A hobby of mine is the DIY side of it, really, so I just do it for a bit of fun.
0:50:15 > 0:50:18If you can make a few bob, that's even better, isn't it?
0:50:18 > 0:50:20So do you work at the same time?
0:50:20 > 0:50:27No, I'm retired. I took retirement early from the local breweries a couple of years ago now
0:50:27 > 0:50:30to spend more time scuba diving but I ended up doing this.
0:50:30 > 0:50:36I wonder if he enjoyed this renovation as much as his beloved scuba diving.
0:50:36 > 0:50:40We're back just under eight months later to see how he's got on.
0:50:44 > 0:50:49Chris has painted the front of the property and replaced the windows to boost its kerb appeal.
0:50:51 > 0:50:58Inside, he's re-plastered, laid new laminate flooring, replaced all the skirting boards,
0:50:58 > 0:51:05got rid of that old fire and painted in lovely neutral shades, giving the room a bright and airy feel.
0:51:05 > 0:51:08The kitchen has been completely refitted
0:51:08 > 0:51:13with stylish cupboards, tiling and new appliances throughout.
0:51:13 > 0:51:20A fresh paint job and new flooring give the kitchen a stylish modern finish.
0:51:20 > 0:51:24In the kitchen here, I've taken out the galley style kitchen
0:51:24 > 0:51:28where the units really closed down the space and made a bit of a corridor.
0:51:28 > 0:51:34Gone for more of an L-shaped kitchen which opens up the space in the kitchen area here.
0:51:34 > 0:51:36The floor runs right through from the lounge,
0:51:36 > 0:51:38giving a feeling of connection with the two
0:51:38 > 0:51:43and then these lovely worktops and sink units, they just finish it off.
0:51:43 > 0:51:49The stairs and landing have been brightened up with a neutral palette and new carpet.
0:51:49 > 0:51:53The master bedroom has been re-plastered and redecorated,
0:51:53 > 0:51:57giving it a lovely warm appeal.
0:51:57 > 0:52:01The second small bedroom has also benefited from being re-plastered
0:52:01 > 0:52:05and the redecoration makes it feel fresh and clean.
0:52:05 > 0:52:13That questionable third bedroom has also been spruced up with a skim on the walls and some redecoration.
0:52:13 > 0:52:20As for the bathroom, the old suite's been completely replaced, there's been a new floor laid,
0:52:20 > 0:52:26new shower installed and it's been completely tiled to give it a much better finish.
0:52:26 > 0:52:30This little room here could be a study, could be an emergency bedroom
0:52:30 > 0:52:34or even a dressing room, being next to the bathroom.
0:52:34 > 0:52:39In the bathroom, what we've done here is taken out all of the old tiling and units.
0:52:39 > 0:52:45New units in, new tiles throughout, nice little radiator.
0:52:45 > 0:52:49I've kept it a fairly neutral finish so it should appeal to anybody.
0:52:49 > 0:52:54In the back garden, the grass has been cut and a general tidy-up has improved the overall look.
0:52:54 > 0:53:00Chris is yet to decide what to do with it but even as is, it's a great space.
0:53:00 > 0:53:06The back of the house has been repainted and what a difference that makes.
0:53:06 > 0:53:12Chris has done a great job here, but his first buy at auction threw up a couple of bigger issues
0:53:12 > 0:53:14than he was initially aware of.
0:53:17 > 0:53:21Well, the electrics had to come out in the end, which was a bit of a surprise.
0:53:21 > 0:53:27Whilst I was taking the paper off with the steamer suddenly a huge flash and bang,
0:53:27 > 0:53:33found there was a hole in the electrics which somebody had nicely put a nail through
0:53:33 > 0:53:37and not ever repaired, just pulled the nail out and carried on as ever.
0:53:37 > 0:53:42So, with things like that to find, I think it's safer to take it all out and start again.
0:53:42 > 0:53:46Re-plastering became evident when we took the kitchen units down.
0:53:46 > 0:53:51With the kitchen units came the wallpaper and the plaster, leaving bare brick in areas.
0:53:51 > 0:53:57It ended up with Chris having to have every room in the house re-plastered and rewired.
0:53:57 > 0:54:01So how did that affect his plans to do all the work himself?
0:54:01 > 0:54:05We had to get the electrician in to do the connections
0:54:05 > 0:54:10and I got a plasterer in to do the plastering, the finishing plastering.
0:54:10 > 0:54:15Other than that, everything myself, apart from I got my son-in-law in on a couple of occasions
0:54:15 > 0:54:18to climb on roofs because I don't do roofs at my age.
0:54:18 > 0:54:23There was obviously a bit more work to do than he anticipated.
0:54:23 > 0:54:26How did that affect his proposed £8,000 budget?
0:54:26 > 0:54:35I did check up last night and on simple purchasing, I'm under the £8,000 I suggested,
0:54:35 > 0:54:39but timescale's put a bit of extra interest in and things like that.
0:54:39 > 0:54:45So, all in all, we will get away with less than £11,500, something like that.
0:54:48 > 0:54:52Chris spent £62,000 at auction buying the property.
0:54:52 > 0:54:58He's estimated that, once finished, he'll have spent a further £11,500 on the renovation
0:54:58 > 0:55:01which also includes the usual fees and expenses.
0:55:01 > 0:55:08So, with a final total of approximately £73,500, has he made any money on this purchase?
0:55:08 > 0:55:13We asked two local property experts to give us their views.
0:55:13 > 0:55:15It's had a lot of work done to it.
0:55:15 > 0:55:22Great layout, tidy little place, does have a ceiling on price round here,
0:55:22 > 0:55:25but really nice little terraced.
0:55:25 > 0:55:29Very impressed with the improvements that have been made to the property.
0:55:29 > 0:55:31It will enhance the saleability of it.
0:55:31 > 0:55:36Chris plans to sell this property, but also knows that this is a very good rental area,
0:55:36 > 0:55:42so if he can't sell in the current market, he does have that option.
0:55:42 > 0:55:48If we were to let the property out, I'd expect to achieve around £450 per calendar month.
0:55:48 > 0:55:52The rent for this property would be in the region of £500 per calendar month.
0:55:52 > 0:55:57My figures were thinking about £450, so the £500 is encouraging.
0:55:57 > 0:56:01In today's market, how much could he hope to sell it for?
0:56:01 > 0:56:08I would expect it to achieve round about £78,000 to £80,000.
0:56:08 > 0:56:13The resale value of this property is somewhere between £80,000 and £85,000.
0:56:13 > 0:56:18£85,000 is what I was looking for, so I agree with £85,000.
0:56:18 > 0:56:21£78,000 seems a little bit on the low side for me.
0:56:21 > 0:56:29What's next for Chris, another property right away or will he be heading straight for the sea?
0:56:29 > 0:56:33Once this is finished, a little bit to do out the back yet,
0:56:33 > 0:56:39I think I'll take a break and go on a nice diving holiday and then look for something else.
0:56:41 > 0:56:44Join us next time for more Homes Under the Hammer.
0:56:44 > 0:56:49- Yes, we'll have lots more properties and some hopeful buyers for you then. Goodbye.- Goodbye.
0:57:11 > 0:57:12Subtitles by Red Bee Media Ltd