0:00:01 > 0:00:03Now, when you see those
0:00:03 > 0:00:04glamorous houses in
0:00:04 > 0:00:06newspapers and magazines,
0:00:06 > 0:00:08they're so tempting, aren't they?
0:00:08 > 0:00:12But do you find they always seem to be way outside of your budget?
0:00:12 > 0:00:15Well, one way to bag yourself a bargain, or, possibly,
0:00:15 > 0:00:18an unusual property, is to head to your local property auction.
0:00:45 > 0:00:50Well, there is a huge choice of properties available at auction,
0:00:50 > 0:00:53from flats to mansions to plots of land to build on.
0:00:53 > 0:00:55So, here's a selection of properties
0:00:55 > 0:00:57that got our buyers excited on today's show.
0:00:59 > 0:01:02We head over the Irish Sea to Northern Ireland,
0:01:02 > 0:01:05and a property in scenic Carrickfergus.
0:01:05 > 0:01:07Nope, it's not this castle.
0:01:09 > 0:01:10Then we return to see
0:01:10 > 0:01:13if an Englishman's home is his castle, no matter how small!
0:01:15 > 0:01:18So, this is it! One room!
0:01:19 > 0:01:22And talking of small spaces, in Tyne and Wear,
0:01:22 > 0:01:24what's this cupboard hiding?
0:01:27 > 0:01:28What's stopping it closing?
0:01:30 > 0:01:33All these properties have been sold at auction.
0:01:33 > 0:01:35We'll find out who bought them and what they paid for them
0:01:35 > 0:01:37when they went under the hammer.
0:01:37 > 0:01:38Sold!
0:01:41 > 0:01:45Over to Northern Ireland now, and Carrickfergus.
0:01:45 > 0:01:48Its name comes from the Rock of Fergus on which its most
0:01:48 > 0:01:50prominent landmark was built,
0:01:50 > 0:01:52Carrickfergus Castle.
0:01:52 > 0:01:57It's 11 miles from Belfast and is County Antrim's oldest settlement.
0:01:57 > 0:01:59# I wish I was...
0:02:00 > 0:02:04# In Carrickfergus...
0:02:06 > 0:02:08# Only for nights...
0:02:10 > 0:02:13# In Ballygrand... #
0:02:13 > 0:02:17Well, just a mile from the centre of Carrick, within easy
0:02:17 > 0:02:21commuting distance from Belfast, is the property I'm here to see.
0:02:21 > 0:02:25Three-bedroom, semidetached at a guide price of £36,000,
0:02:25 > 0:02:26the big question is,
0:02:26 > 0:02:31would I swim over the deepest oceans for this property to find?
0:02:31 > 0:02:32Oh, yeah!
0:02:34 > 0:02:37It's certainly a big looking house from the outside.
0:02:37 > 0:02:40What have we got inside then? Nice sized entrance area, I like that.
0:02:40 > 0:02:44Somewhere to put your coat, store your bike, your bags, or whatever.
0:02:44 > 0:02:48Good to see. Um, front living room area there.
0:02:48 > 0:02:49Yeah, that's a decent size too.
0:02:49 > 0:02:52A few signs of damp, which you definitely want to have
0:02:52 > 0:02:56checked out, but central heating by the look of the radiators.
0:02:56 > 0:03:03Banisters are extra! But then through to a really great room.
0:03:03 > 0:03:05At the rear of the property, it's the kitchen.
0:03:05 > 0:03:08It's got this breakfast bar area, the kitchen area there,
0:03:08 > 0:03:10the dining room living area over that way.
0:03:10 > 0:03:13This is a really practical room for modern living, you know?
0:03:13 > 0:03:16Kids can be playing over there, watching telly,
0:03:16 > 0:03:19while mum or dad prepares dinner here. Just a really great layout.
0:03:19 > 0:03:23What a nice surprise. Yeah, you'd want to replace the units, perhaps,
0:03:23 > 0:03:26but, as a concept, brilliant!
0:03:26 > 0:03:30All very family friendly. What about the rest of the house?
0:03:33 > 0:03:36Well, upstairs and the very sensible layout continues.
0:03:36 > 0:03:38Three bedrooms and a bathroom.
0:03:38 > 0:03:42The bathroom a good size, actually, it doesn't have a bath in it,
0:03:42 > 0:03:45but it's got a big shower, and it needs sorting out,
0:03:45 > 0:03:47but at least you've got space to do it.
0:03:47 > 0:03:50And so the three bedrooms are very similar in size,
0:03:50 > 0:03:56but they also share one slightly worrying similarity in that
0:03:56 > 0:03:59a lot of them are showing signs of damp.
0:03:59 > 0:04:02In that case, right at the top, and in this room, particularly,
0:04:02 > 0:04:04down at the bottom there.
0:04:04 > 0:04:07Now, not necessarily something to panic about.
0:04:07 > 0:04:10It could just be the house hasn't been lived in for a while
0:04:10 > 0:04:16and that's just damp from the air, the condensation or whatever.
0:04:16 > 0:04:17On the other hand,
0:04:17 > 0:04:20given that it's actually all the way around at the top,
0:04:20 > 0:04:24it could be that there's a problem in the attic space
0:04:24 > 0:04:27and that is damp coming through the roof or whatever.
0:04:27 > 0:04:30So, stick your head up there, have a poke about, see what's going on.
0:04:30 > 0:04:35My guess is, fingers crossed, it's nothing too much to worry about.
0:04:35 > 0:04:39If you could get rid of the mould, this house could scrub up nicely.
0:04:39 > 0:04:41And you should get rid of it.
0:04:41 > 0:04:45Mould is a fungus and loves to grow in cold, damp conditions,
0:04:45 > 0:04:47and then mites feed on mould,
0:04:47 > 0:04:51which, in turn causes respiratory illnesses in some people.
0:04:56 > 0:05:00Unfortunately, inside is the only place things are growing...
0:05:03 > 0:05:06..cause there's little sign of anything outside.
0:05:08 > 0:05:11We've come out of the back of the property into the rear garden,
0:05:11 > 0:05:14and it's dominated by this rather strange decking,
0:05:14 > 0:05:16which creates this little island -
0:05:16 > 0:05:17I'm not quite sure what it's all about.
0:05:17 > 0:05:22There's also this outbuilding which houses the oil-fired boiler and
0:05:22 > 0:05:26here's the oil tank, and then the rest of it...well, at the moment...!
0:05:26 > 0:05:29Ahem! It's a bit of a rubbish dump.
0:05:29 > 0:05:31A bit of a shame. But tidy it up, spend a weekend here
0:05:31 > 0:05:33with a skip and a strimmer,
0:05:33 > 0:05:35plant some, you know, plants and some grass,
0:05:35 > 0:05:39and you could turn this into a really nice little area.
0:05:39 > 0:05:43This, just like inside, needs a bit of love, but I think it's got
0:05:43 > 0:05:48real potential and that guide price of 36 grand is extremely attractive.
0:05:48 > 0:05:50Time for some local knowledge
0:05:50 > 0:05:52and a rundown on the property market
0:05:52 > 0:05:54here in Carrickfergus.
0:05:54 > 0:05:56This estate was originally a
0:05:56 > 0:05:58Northern Ireland Housing Executive Estate,
0:05:58 > 0:05:59although many of the properties
0:05:59 > 0:06:01have now been privately bought.
0:06:01 > 0:06:05Um, the price ranges would be in the lower price ranges and,
0:06:05 > 0:06:07as we are starting to come out of recession,
0:06:07 > 0:06:11the demand for this type of property is increasing,
0:06:11 > 0:06:14particularly amongst first-time buyers
0:06:14 > 0:06:19and also the investor market is now coming back quite strongly, and
0:06:19 > 0:06:23we have seen a good demand in recent months for properties in the area.
0:06:23 > 0:06:24That's encouraging,
0:06:24 > 0:06:27because Northern Ireland has had a torrid time in
0:06:27 > 0:06:31the property market in the last few years and these houses would have
0:06:31 > 0:06:35been bought and sold at much higher prices previously.
0:06:35 > 0:06:38You could probably add £100,000 to the value of the property
0:06:38 > 0:06:40at the height of the market.
0:06:40 > 0:06:45In Northern Ireland, we did have quite a rise that,
0:06:45 > 0:06:48at one point, Northern Ireland was the third most expensive part of
0:06:48 > 0:06:51the UK in which to live after London and the home counties.
0:06:51 > 0:06:54With all that in mind, what could this house sell for
0:06:54 > 0:06:57- if it were renovated?- 'I would anticipate that, once renovated,
0:06:57 > 0:06:59'I would expect the property to achieve a figure'
0:06:59 > 0:07:03somewhere in the region of £55,000 to £60,000.
0:07:03 > 0:07:05And what about rental values?
0:07:05 > 0:07:11I would envisage a rental income of £425 to £450 per calendar month.
0:07:13 > 0:07:15Well, at the height of the property boom,
0:07:15 > 0:07:19this house would have been worth around £140,000,
0:07:19 > 0:07:22but, going to auction with a guide price of 36,000,
0:07:22 > 0:07:26you are getting a lot of house for the money.
0:07:26 > 0:07:28Yeah, let's see who spotted the bargain
0:07:28 > 0:07:30when it went under the hammer.
0:07:30 > 0:07:32Three-bedroom semi,
0:07:32 > 0:07:33the guide price is 36,000.
0:07:33 > 0:07:35Would someone like to get this away at 25,000?
0:07:35 > 0:07:37First one, here's your 25.
0:07:37 > 0:07:4025 at the back. 25,000, any advance on 25,000?
0:07:40 > 0:07:43Any advance on 25,000? We have 25,000.
0:07:43 > 0:07:47Any...? 27. We have 27,000.
0:07:47 > 0:07:5029. We have 29 standing at 29,000.
0:07:50 > 0:07:5329,000. 31. 31 it is.
0:07:53 > 0:07:5831,500, 31,500, 31,500, 31,500...
0:07:59 > 0:08:0133. 33,000.
0:08:01 > 0:08:03We have 33,000. We have 33,000 here.
0:08:03 > 0:08:05Seated at 33,000.
0:08:05 > 0:08:09'With the bidding climbing rapidly, we rejoin at 40,000.'
0:08:09 > 0:08:1240,000, selling at 40,000.
0:08:12 > 0:08:1541. 41 and selling. 41 and selling.
0:08:15 > 0:08:1641 here and selling.
0:08:16 > 0:08:17All sure?
0:08:17 > 0:08:21Last call at 41,000... 42. 42's back.
0:08:21 > 0:08:23At 42,000, back at 42.
0:08:23 > 0:08:2642, selling at 42,000. Selling...
0:08:26 > 0:08:3042,500. 42,500 at 42,500.
0:08:30 > 0:08:3342,500 going once...
0:08:33 > 0:08:3642,500 going twice.
0:08:36 > 0:08:4042,500. Sold at 42,500. Thank you.
0:08:40 > 0:08:43The successful bidder was just out of sight of the camera,
0:08:43 > 0:08:45so let's reveal him now, back at the property.
0:08:47 > 0:08:49And here he is.
0:08:49 > 0:08:53It's Pip, a former landscape gardener turned property developer.
0:08:53 > 0:08:58It was his bid of £42,500 that pipped everyone else to the post
0:08:58 > 0:09:00and secured the property.
0:09:00 > 0:09:02I caught up with him to find out more.
0:09:03 > 0:09:07- Pip, great to meet you.- Nice to meet you, Martin.- Congratulations!
0:09:07 > 0:09:10- Thank you very much.- Tell me why you wanted to buy this place.
0:09:10 > 0:09:13Well, Martin, you know Northern Ireland property has been having
0:09:13 > 0:09:15a bad time in the last five, six years,
0:09:15 > 0:09:18and I suppose it's time that we're going to get a wee bit of uh...
0:09:18 > 0:09:20- Growth again?- ..back into the market.
0:09:20 > 0:09:23I was actually hearing something on the radio this morning saying that.
0:09:23 > 0:09:26Yeah, I think so, and I think the lower end of the sector,
0:09:26 > 0:09:30you know, the first-time buyer properties, the rental properties
0:09:30 > 0:09:34are the ones that are going to maybe benefit from it, at the start.
0:09:34 > 0:09:37So, it was really...I knew the area and I wanted to get something
0:09:37 > 0:09:41to make a bit of money and, if not, I can rent it out.
0:09:41 > 0:09:43Have you been in the property market in the past?
0:09:43 > 0:09:46So, have you seen what's happened in the last ten years?
0:09:46 > 0:09:48A lot of people have got stung, but...
0:09:48 > 0:09:50At what levels were you seeing it drop by?
0:09:50 > 0:09:5350% in Northern Ireland, yeah, right across the board.
0:09:53 > 0:09:58There was nothing that evaded, you know, the property crash,
0:09:58 > 0:10:01you know, in the last five, six years but, as I say there's green
0:10:01 > 0:10:05shoots of growth on the horizon, so, hopefully, we'll get there.
0:10:05 > 0:10:07And are you seeing a lot of people sort of coming
0:10:07 > 0:10:09back into the market now?
0:10:09 > 0:10:12I don't think a lot of people have much money at the moment, Martin.
0:10:12 > 0:10:14You know, I think a lot of people would like to get
0:10:14 > 0:10:17back into the market because of the rock bottom prices,
0:10:17 > 0:10:23but I can't see very...loads and loads of people coming back in.
0:10:23 > 0:10:28Pip left garden landscaping behind to work in property full-time,
0:10:28 > 0:10:32so, given all his experience in the market, why this house?
0:10:33 > 0:10:34I did look at a few,
0:10:34 > 0:10:38and there were actually two properties I wanted to buy,
0:10:38 > 0:10:41as I say, at the lower end of the sector, the rental markets,
0:10:41 > 0:10:43first-time buyer markets that I wanted to do up.
0:10:43 > 0:10:46- Unfortunately, one of them actually went pre-auction.- OK.
0:10:46 > 0:10:49So, it was out, and I had a budget set for this house.
0:10:49 > 0:10:50It came up within my budget.
0:10:51 > 0:10:54- So, it was a no-brainer for me.- Good.
0:10:54 > 0:10:58So, tell me what are you going to do to sort of sort it out.
0:10:58 > 0:11:01I actually plan to do a complete refurb, Martin, rather than
0:11:01 > 0:11:05just, you know, doing a cosmetic job, you know, a lick of paint.
0:11:05 > 0:11:08I do want to change the kitchen about, a new bathroom,
0:11:08 > 0:11:14- and, obviously, tidy up around the gardens and inside the house.- OK.
0:11:14 > 0:11:15With a view to what though?
0:11:15 > 0:11:17Cos, I mean, clearly, if you're doing it to sell,
0:11:17 > 0:11:20it's slightly different to doing it to rent.
0:11:20 > 0:11:25My primary objective is actually to sell it, to flip it on and,
0:11:25 > 0:11:28if I can make a bit of profit, all well and good.
0:11:28 > 0:11:29But if it doesn't sell quickly,
0:11:29 > 0:11:32if it doesn't sell at a price that I'm going to pitch it at,
0:11:32 > 0:11:38I can just rent it out, cos, at the price, it'll be a good rental return.
0:11:38 > 0:11:39Yeah, for sure.
0:11:39 > 0:11:42Pip is reckoning on a four to six week timescale
0:11:42 > 0:11:45and a budget of £6,000 to £7,000.
0:11:45 > 0:11:48But with the shoots of recovery just showing through,
0:11:48 > 0:11:51how much does he hope to resell the house for?
0:11:52 > 0:11:54What would tempt you to resell it?
0:11:54 > 0:11:58What price would you think would be good?
0:11:58 > 0:12:00I'm hoping to sell it for over 60.
0:12:00 > 0:12:02- OK.- I'm going to pitch it around 60 and see how it goes.
0:12:02 > 0:12:05It's been a long time since I got dirt under my fingernails, but,
0:12:05 > 0:12:07I think it's time I started.
0:12:07 > 0:12:10That's a heck of a thing for a landscape gardener to say, isn't it?
0:12:10 > 0:12:13- Yeah, but I've been out of that job for a while now!- Have you? OK.
0:12:13 > 0:12:16Being a landscape gardener is going to come in handy here,
0:12:16 > 0:12:19but does Pip intend to do the work himself?
0:12:19 > 0:12:21I will be doing a lot of the work myself,
0:12:21 > 0:12:24but, I've built up a few contacts with my contractors over the years
0:12:24 > 0:12:28and I'll get them in to do some of the specialist jobs.
0:12:28 > 0:12:31And then what about the future? I mean, plans for more or what?
0:12:31 > 0:12:32I suppose some more.
0:12:33 > 0:12:37I always like to go to the auctions and see what's on and if...
0:12:37 > 0:12:40there's a bargain out there, yeah, I would certainly...it won't be
0:12:40 > 0:12:43the first time and it won't be the last time I've been at auction.
0:12:43 > 0:12:46- Well, listen, congratulations. - Thanks very much.- Good luck with it.
0:12:46 > 0:12:48- I look forward to seeing how you get on.- Yeah, good.
0:12:51 > 0:12:52Well, like other parts of the UK,
0:12:52 > 0:12:56things have been tough for the Northern Ireland property market
0:12:56 > 0:12:58in the last few years, but, hopefully,
0:12:58 > 0:13:02Pip's experience is mirrored by others and things are on the up.
0:13:02 > 0:13:05He's got a good house here and he's got it for a good price.
0:13:05 > 0:13:08How will he get on renovating it? You can find out later in the show.
0:13:14 > 0:13:16Time to jump on the ferry and head to
0:13:16 > 0:13:20the historic town of Dover on the south east coast of Kent.
0:13:21 > 0:13:24Throughout the ages, this port has played the critically
0:13:24 > 0:13:29important role in trade, defence and cross-Channel travel.
0:13:29 > 0:13:32And a revival of the docks at Dover is in the offing, with the promise
0:13:32 > 0:13:36of a brand-new cargo terminal to be built, which, it's hoped,
0:13:36 > 0:13:39will prove to be a catalyst for some long-awaited regeneration
0:13:39 > 0:13:41in the town centre.
0:13:43 > 0:13:46So, a fruitful place to gather investment properties.
0:13:47 > 0:13:51The property I'm here to see is in this no-through road,
0:13:51 > 0:13:56so it's a nice, quiet cul-de-sac in a good location, so a great start,
0:13:56 > 0:14:00and for a guide price of just £20,000 to £24,000,
0:14:00 > 0:14:02well, here it is.
0:14:02 > 0:14:07It's a lower ground floor studio flat. It sounds compact and bijou.
0:14:07 > 0:14:09Let's see what it's like inside.
0:14:09 > 0:14:11Going down! You coming?
0:14:11 > 0:14:12# And I can feel it, feel it
0:14:12 > 0:14:14# Feel it, feel it
0:14:14 > 0:14:17# Way down where the music plays
0:14:17 > 0:14:19# Way down like a tidal wave
0:14:19 > 0:14:23# Way down where the fires blaze
0:14:23 > 0:14:29# Way down, down... #
0:14:29 > 0:14:34Well, one of the biggest problems with these lower ground floor
0:14:34 > 0:14:39or basement flats, is, well, they can often be damp, and very dark.
0:14:39 > 0:14:42The challenge is always to try and create
0:14:42 > 0:14:44a light and airy and spacious feel,
0:14:44 > 0:14:47so, whoever's living here doesn't feel as if they're down in
0:14:47 > 0:14:51the doldrums, so you'll definitely have to do something with this...!
0:14:53 > 0:14:56Shower room and cloakroom! Good luck!
0:14:57 > 0:15:00# Don't leave me this way
0:15:04 > 0:15:06# I can't survive
0:15:06 > 0:15:07# Can't stay alive
0:15:09 > 0:15:10# Without your love. #
0:15:10 > 0:15:14OK, now the trick behind developing a tiny property like this is
0:15:14 > 0:15:16making the most of every single inch.
0:15:16 > 0:15:20There are amazing space-saving bathroom suites nowadays
0:15:20 > 0:15:23and clever lighting solutions for those dark and dingy spaces.
0:15:25 > 0:15:26# Don't leave me this way... #
0:15:26 > 0:15:29The same goes for this dinky little kitchenette.
0:15:29 > 0:15:33Now, the right units and fittings and clever use of space help
0:15:33 > 0:15:37to create flow into the living area, and it will make such a difference.
0:15:37 > 0:15:39Speaking of which...
0:15:40 > 0:15:41So, this is it!
0:15:42 > 0:15:44One room!
0:15:44 > 0:15:47Two levels, a window, a door,
0:15:47 > 0:15:50no fireplace, no shelving,
0:15:50 > 0:15:52no features!
0:15:52 > 0:15:54I suppose you could call it a blank canvas.
0:15:54 > 0:15:58# But now
0:15:58 > 0:16:02# I'm lost for words
0:16:02 > 0:16:06# Like a single blank canvas
0:16:06 > 0:16:11# I have no idea
0:16:11 > 0:16:13# No... #
0:16:13 > 0:16:15Now, if this was all there was to this flat,
0:16:15 > 0:16:18then I'd still be saying that a guide price
0:16:18 > 0:16:22of 20,000 to 24,000 on the south east coast of Kent is
0:16:22 > 0:16:26a real bargain, but there's something I haven't shown you yet.
0:16:27 > 0:16:29You might have already spotted it out that window.
0:16:29 > 0:16:33Look at that view! And guess what?
0:16:33 > 0:16:35There's even a garden to enjoy it from!
0:16:37 > 0:16:39Well, this is the payoff, isn't it?
0:16:39 > 0:16:42What a really nice sunny garden you get with this flat.
0:16:42 > 0:16:45And look! Really long, south-facing and,
0:16:45 > 0:16:47with a bit of work and imagination,
0:16:47 > 0:16:50well, it could be nice.
0:16:50 > 0:16:51But what you could also consider doing,
0:16:51 > 0:16:55since you've got the space here, is extending the flat outwards,
0:16:55 > 0:16:58or, what about a little conservatory,
0:16:58 > 0:17:00or more living accommodation,
0:17:00 > 0:17:04so the studio transforms itself into a proper one-bedroom flat
0:17:04 > 0:17:08and you could do that by adding an extension.
0:17:08 > 0:17:10Now, that would make it more attractive to
0:17:10 > 0:17:12potential buyers and tenants.
0:17:12 > 0:17:15That has really got me feeling positive about this place.
0:17:15 > 0:17:18But you would, of course, have to do a bit of research, and talk
0:17:18 > 0:17:21to your local planning department to see if this idea would be a goer.
0:17:23 > 0:17:26And you'd also have to find out if it was worth the build costs,
0:17:26 > 0:17:29even with that low guide price of
0:17:29 > 0:17:3120,000 to 24,000.
0:17:31 > 0:17:33Who better to ask than a local estate agent?
0:17:36 > 0:17:39This is a very small apartment, but
0:17:39 > 0:17:40there's a lot of demand in the market
0:17:40 > 0:17:42for small apartments.
0:17:42 > 0:17:46The more affordable it is, the more people are in the market for it.
0:17:46 > 0:17:50What about the possibility of adding an extension to improve its appeal?
0:17:52 > 0:17:55You'd have to be quite careful in considering the costs
0:17:55 > 0:17:57before building on here, and, probably,
0:17:57 > 0:18:01if you put a conservatory or sunroom type extension,
0:18:01 > 0:18:03that would be an easier way of doing it,
0:18:03 > 0:18:07than putting in proper foundations and a whole new room.
0:18:07 > 0:18:10I agree with the agent that an extension could be a bit
0:18:10 > 0:18:12of a hassle, but I think it could be worth it.
0:18:12 > 0:18:17But say this little studio flat was refurbished with no additions,
0:18:17 > 0:18:18what sort of rent could it fetch?
0:18:20 > 0:18:24I'd expect there'd be a good demand for this locally in the rental market
0:18:24 > 0:18:29and the rental value is probably £350 to £400 per calendar month.
0:18:29 > 0:18:32If you created a separate bedroom, that would probably enhance
0:18:32 > 0:18:37the rental value to £400, £450 per calendar month.
0:18:37 > 0:18:40And if you wanted to sell the property on?
0:18:40 > 0:18:46The value here on resale is likely to be 40,000 to 45,000, and with
0:18:46 > 0:18:50a room added to the back, that may be enhanced to £50,000 perhaps £55,000.
0:18:52 > 0:18:55Well, for starters, there's a fair bit of damp to get
0:18:55 > 0:18:59rid of in the flat, and it feels fairly cramped and dingy.
0:18:59 > 0:19:04But the guide price, only 20,000 to £24,000,
0:19:04 > 0:19:07and you do have a lovely south-facing garden with that view
0:19:07 > 0:19:11and the option of looking to adding a conservatory or an extension.
0:19:11 > 0:19:14Let's find out who bought this little nugget
0:19:14 > 0:19:15when it went to auction.
0:19:20 > 0:19:22Garden flat, start me where you will,
0:19:22 > 0:19:2624,000, top end of the guide, 24,000 I am bid,
0:19:26 > 0:19:28and 26, do I see?
0:19:28 > 0:19:30At £24,000 I am bid,
0:19:30 > 0:19:3326 I have and 28 and 30.
0:19:34 > 0:19:3730 I am bid. £30,000 on my left,
0:19:37 > 0:19:4032 I am bid and 34, no.
0:19:40 > 0:19:4332 I have, 33 if it helps.
0:19:43 > 0:19:4733? 33 in the corner and 34? 34.
0:19:47 > 0:19:4935 do I see anywhere?
0:19:49 > 0:19:53At £34,000 I am bid. 35, will you make it?
0:19:53 > 0:19:57At £34,000... Lady's bid, 35 I have.
0:19:57 > 0:19:59And 36. Keep smiling and bidding.
0:19:59 > 0:20:0235,000 I am bid. 36?
0:20:02 > 0:20:05Yes? 36 I am bid and 37.
0:20:06 > 0:20:10No? 36,000 then, lady's bid for the first time at 36,000.
0:20:11 > 0:20:14For the second time at 36,000,
0:20:14 > 0:20:16for the third and final time,
0:20:16 > 0:20:18lady's bid in front of me at 36,000
0:20:18 > 0:20:19and are you all done?
0:20:19 > 0:20:22Sold at 36,000. Congratulations.
0:20:22 > 0:20:24Masked from our view was buyer Debbie
0:20:24 > 0:20:28who got the basement studio for 36 grand.
0:20:28 > 0:20:32Quite a bit over that low 20,000 to £24,000 guide price.
0:20:33 > 0:20:35But Debbie is a developer who knows how to make
0:20:35 > 0:20:38the most of unusual properties like this.
0:20:38 > 0:20:40She buys on behalf of clients
0:20:40 > 0:20:43and we've seen her on the show before when she transformed
0:20:43 > 0:20:47a former funeral parlour into a flat for a client in Saudi Arabia.
0:20:49 > 0:20:52This time it's a bargain basement flat for a client
0:20:52 > 0:20:53living in Scotland.
0:20:53 > 0:20:58It's not often you get a studio flat for the money it was at auction.
0:20:58 > 0:21:01No, well, I've never bought anything in Kent for 36,000,
0:21:01 > 0:21:04so we did well to get this at the price we got it.
0:21:04 > 0:21:07It is just a room with a window and a door,
0:21:07 > 0:21:09but a really nice sunny garden.
0:21:09 > 0:21:13Yeah, I mean, it's got loads of potential.
0:21:13 > 0:21:15We haven't quite got the, you know,
0:21:15 > 0:21:17total plan in place for this yet,
0:21:17 > 0:21:22but it is going to be possible to extend out into the garden,
0:21:22 > 0:21:24because, I mean, the garden's at least 40ft long.
0:21:24 > 0:21:27One of the neighbours has put a conservatory up
0:21:27 > 0:21:32and they've done it so that you have to step down into that conservatory.
0:21:32 > 0:21:34Um, but, at the moment,
0:21:34 > 0:21:38I'm waiting for a price for a conservatory that we could
0:21:38 > 0:21:42walk straight into, so, the conservatory would be on stilts,
0:21:42 > 0:21:47or on a platform as such, and that would then make this into a
0:21:47 > 0:21:51one-bed flat with a stunning glass conservatory with a fantastic view.
0:21:52 > 0:21:56You know, I love the idea of adding an extension, but I don't need to
0:21:56 > 0:22:00tell Debbie that what she spends has to balance with possible profit
0:22:00 > 0:22:04and this isn't a straightforward conservatory extension.
0:22:04 > 0:22:07Such a substantial construction means that she would need to
0:22:07 > 0:22:10apply, and wait, for planning permission.
0:22:10 > 0:22:13For a straightforward conservatory, you don't normally have to,
0:22:13 > 0:22:16but for the height that we're after, I think we probably might do.
0:22:16 > 0:22:18I think we'll make money on this flat
0:22:18 > 0:22:21whether we put the conservatory on it or not. The question is, how much and
0:22:21 > 0:22:24what's going to be the quickest return in the quickest time?
0:22:24 > 0:22:27I mean, we could simply just put a new kitchen, new bathroom,
0:22:27 > 0:22:30a coat of paint round and do the garden nicely.
0:22:30 > 0:22:32And sell it for...?
0:22:32 > 0:22:33- 65.- Really?- 60.
0:22:33 > 0:22:35So, is it worth going to all the trouble of
0:22:35 > 0:22:37adding an extension to get 80,000?
0:22:37 > 0:22:39Well, probably not.
0:22:39 > 0:22:42Debbie's job is to get a high return in the quickest time
0:22:42 > 0:22:46possible for her client, so, she's weighing up all the possibilities.
0:22:46 > 0:22:48Another, of course, is to add a bedroom.
0:22:49 > 0:22:52I guess the most simple way of doing it would be to remove this
0:22:52 > 0:22:55partition wall here so that would open up the kitchen area,
0:22:55 > 0:22:59and put a corridor in by the back door there,
0:22:59 > 0:23:02so, you could come...you'd come into the kitchen-diner,
0:23:02 > 0:23:06walk down the corridor, on your left would be a door to the bedroom
0:23:06 > 0:23:07and, straight ahead, would be
0:23:07 > 0:23:13a glass conservatory with a lounging area and your views,
0:23:13 > 0:23:16and then a garden after that, so, I think that would look really good.
0:23:16 > 0:23:18So, I suppose the big question is,
0:23:18 > 0:23:21will we see an extension out the back?
0:23:21 > 0:23:24- Or won't we?- You'll have to wait and see, I think!
0:23:24 > 0:23:26Debbie is vastly experienced
0:23:26 > 0:23:30with clients and property dealings in America, as well as the UK.
0:23:30 > 0:23:33So, her vision for this property is bound to be a winner,
0:23:33 > 0:23:35whatever she decides.
0:23:35 > 0:23:37If this ends up being a straightforward refurbishment,
0:23:37 > 0:23:41then it'll be done in two weeks and for under £10,000.
0:23:42 > 0:23:46But if all your figures come back and it's quite straightforward
0:23:46 > 0:23:49- to build a platform on stilts, you may go ahead...- Yeah.
0:23:49 > 0:23:51- ..and do the extension? - Yes, that's right. Yeah.
0:23:51 > 0:23:53It's going to be interesting to see what you do.
0:23:53 > 0:23:56- Deborah, it's lovely meeting you today, thank you.- Thank you.
0:23:57 > 0:24:01A dingy Dover studio with not much room to swing a cat!
0:24:01 > 0:24:04But a lovely sunny garden and views to die for.
0:24:04 > 0:24:05Will we come back to find a nice,
0:24:05 > 0:24:10new one-bedroom flat or will it remain the same? Small and snug.
0:24:10 > 0:24:13You can find out what happens later on in the programme.
0:24:15 > 0:24:19Still to come, in Tyne and Wear, James breaks a Hammer golden rule
0:24:19 > 0:24:21and gets a slap on the wrist!
0:24:22 > 0:24:25- We didn't view it beforehand.- Oh!
0:24:27 > 0:24:32Whilst in Dover, Kent, Debbie is in line for getting a slap on the back.
0:24:33 > 0:24:35I only wish there were more like this.
0:24:37 > 0:24:41Now, back over the Irish Sea to Carrickfergus where, earlier,
0:24:41 > 0:24:42I met Pip...
0:24:45 > 0:24:48..a former landscape gardener turned property developer, who had bought
0:24:48 > 0:24:52this three-bedroom semidetached property with a bid of £42,500.
0:24:57 > 0:24:58Pip is a seasoned developer
0:24:58 > 0:25:02and planned to renovate this tired property in just six weeks.
0:25:04 > 0:25:08So, tell me what you're going to do to sort of sort it out.
0:25:08 > 0:25:12I actually plan to do a complete refurb, Martin, rather than
0:25:12 > 0:25:16just, you know, a cosmetic job, you know, a lick of paint.
0:25:16 > 0:25:19I do want to change the kitchen about, a new bathroom and,
0:25:19 > 0:25:22obviously, tidy up around the gardens and inside the house.
0:25:24 > 0:25:26Pip had plans to sell this property on and,
0:25:26 > 0:25:28whilst it had good dimensions,
0:25:28 > 0:25:32the numerous signs of damp in this house had me a little concerned.
0:25:35 > 0:25:39We've returned two months later to find that, whilst there hasn't been
0:25:39 > 0:25:44much change to the front exterior, the inside is a different story.
0:25:49 > 0:25:53Now, risking such a strong colour in a house you plan to sell is
0:25:53 > 0:25:55a brave move, but there's no denying that those
0:25:55 > 0:25:59fixtures and fittings give the kitchen a slick modern feel.
0:26:00 > 0:26:05The beautifully retiled flooring in here leads out into the hallway.
0:26:12 > 0:26:14The living room has been re-plastered, painted
0:26:14 > 0:26:15and re-carpeted...
0:26:20 > 0:26:22..as have the three bedrooms upstairs.
0:26:25 > 0:26:28And those nasty signs of damp are nowhere to be seen.
0:26:38 > 0:26:40The stuck-in-the-'80s bathroom has been replaced with
0:26:40 > 0:26:43a brand-new suite and contemporary tiling...
0:26:44 > 0:26:46..not forgetting a new bath.
0:26:48 > 0:26:51Throughout, Pip has transformed this property from
0:26:51 > 0:26:54tired and dated to bright and fresh.
0:26:55 > 0:26:59And if bathrooms and kitchens sell houses, I think he's onto a winner.
0:27:06 > 0:27:08So, what I actually did in here,
0:27:08 > 0:27:12I upgraded the tiles in the hallway into the kitchen
0:27:12 > 0:27:14and into the dinette, just to give it that bit of a wow factor
0:27:14 > 0:27:16when people came into the house.
0:27:16 > 0:27:20Also, new kitchen, and the new electrics,
0:27:20 > 0:27:23electrics have been upgraded, new switches, new sockets.
0:27:23 > 0:27:28So, it took a wee bit of time, but I think the result has been nice.
0:27:30 > 0:27:33Because of Pip's background in landscape gardening,
0:27:33 > 0:27:37I was particularly interested to see what he'd do with the outdoor space.
0:27:37 > 0:27:39However, due to bad weather,
0:27:39 > 0:27:41he could only spend a couple of days on it.
0:27:44 > 0:27:46Still, not bad for two days work, Pip.
0:27:48 > 0:27:50I did most of the work myself.
0:27:50 > 0:27:53I certainly did all the grafting, I did all the finishing off,
0:27:53 > 0:27:56but I had a good few specialist people in,
0:27:56 > 0:27:59the likes of the electrician, to finish off the electrics.
0:27:59 > 0:28:02I got a joiner in to do the banisters,
0:28:02 > 0:28:04just a wee bit above my talent.
0:28:04 > 0:28:07But I did most of it myself.
0:28:07 > 0:28:10How was the damp issue dealt with though?
0:28:10 > 0:28:13There were no major problems that were actually causing
0:28:13 > 0:28:16the condensation, it was just because the house was unheated,
0:28:16 > 0:28:22uninhabited, and neglected for the two years with all the windows,
0:28:22 > 0:28:25no air getting through, everything sealed off.
0:28:25 > 0:28:27With all the tiling, the new bathroom and kitchen,
0:28:27 > 0:28:30has Pip kept to his budget?
0:28:30 > 0:28:32Well, I had a budget between 6,000 and 7,000,
0:28:32 > 0:28:34which included contingency.
0:28:34 > 0:28:36But I'm at the bottom end of my budget.
0:28:36 > 0:28:41I'll probably come in at around 6,000 so far, and I've got maybe 200 or 300
0:28:41 > 0:28:44leftover to do a wee bit of painting outside if I need to do the outside.
0:28:44 > 0:28:48So, I'm actually in on target, if not below budget.
0:28:48 > 0:28:52Considering the transformation here, that is a great result,
0:28:52 > 0:28:54but it didn't all go to plan.
0:28:55 > 0:29:02I couldn't see into the boiler house when I came to view the house
0:29:02 > 0:29:06and the boiler and the pump were actually missing,
0:29:06 > 0:29:11so rather than get a new pump fitted onto an old boiler, we got
0:29:11 > 0:29:16a reconditioned boiler, reconditioned pump, and put a new burner onto it.
0:29:16 > 0:29:20It was an unexpected cost, but we actually made up in other areas.
0:29:23 > 0:29:26By hitting the sales and working himself, Pip was able to keep
0:29:26 > 0:29:30costs down as well as sticking to his six-week timeframe.
0:29:30 > 0:29:32So, is he still intent on selling?
0:29:33 > 0:29:36My plans now are definitely to try and sell it on.
0:29:36 > 0:29:38If I don't sell it on within a few months,
0:29:38 > 0:29:41two months maybe during the summer, what I'll do is maybe
0:29:41 > 0:29:45look for a short-term tenant and see what I can do with it then.
0:29:47 > 0:29:51Pip knows that being flexible is an absolute must in the property game.
0:29:51 > 0:29:54You always have to have a plan B.
0:29:54 > 0:29:56But will he need to rent it out,
0:29:56 > 0:29:59or will this house sell for a good return?
0:29:59 > 0:30:04He has, so far, invested £48,500 in his three-bed semi.
0:30:04 > 0:30:07What do two local estate agents think?
0:30:07 > 0:30:09First, the one who saw it last time.
0:30:09 > 0:30:12Both the kitchen and the bathroom were the two things
0:30:12 > 0:30:15and they do stand out as having been done very well,
0:30:15 > 0:30:19so that has been a massive improvement in that respect.
0:30:19 > 0:30:22I think the cream gloss kitchen units are very contemporary
0:30:22 > 0:30:25and very what people are looking for at the moment,
0:30:25 > 0:30:27and the tiling to the hall floor
0:30:27 > 0:30:30and kitchen dining area is particularly nice.
0:30:30 > 0:30:33The property would appeal to various parties,
0:30:33 > 0:30:36but in particular, I suspect, first-time buyers
0:30:36 > 0:30:39and also investors, those who do wish to rent the property out.
0:30:39 > 0:30:42So if Pip doesn't manage to sell straightaway,
0:30:42 > 0:30:45what could he expect rental-wise?
0:30:45 > 0:30:46For rental value,
0:30:46 > 0:30:51we would anticipate a figure of £450 per calendar month.
0:30:51 > 0:30:55I would imagine somewhere around £450 per calendar month.
0:30:56 > 0:30:59Meaning a healthy yield of around 11%.
0:30:59 > 0:31:03but what about the all-important valuations?
0:31:04 > 0:31:06I would imagine the value of the property could be
0:31:06 > 0:31:10somewhere in the region of £60,000-£62,000.
0:31:10 > 0:31:13As it stands, I would estimate the value of the property
0:31:13 > 0:31:16to be in the region of £60,000-£63,000.
0:31:16 > 0:31:18So for six weeks' work,
0:31:18 > 0:31:21Pip could expect a pre-tax profit
0:31:21 > 0:31:25before taxes and expenses of £14,500.
0:31:25 > 0:31:27Yeah, I'm very pleased with that price.
0:31:27 > 0:31:29If I got that, it could be time
0:31:29 > 0:31:31to get the dirt from underneath my fingernails
0:31:31 > 0:31:34and instead of counting money, start counting stars.
0:31:38 > 0:31:41So will someone else be counting their money here in Hazlerigg,
0:31:41 > 0:31:42a former mining village
0:31:42 > 0:31:44just five miles to the north of Newcastle upon Tyne?
0:31:44 > 0:31:46MUSIC: "Hi Hi Hazel" by The Troggs
0:31:46 > 0:31:49# Hi, Hi, Hi, Hazel
0:31:51 > 0:31:54# Great to see you back home... #
0:31:56 > 0:31:58So what was on offer at the auction?
0:31:58 > 0:32:02Well, for a guide price of £50,000 plus,
0:32:02 > 0:32:04a two-bedroom, first-floor flat.
0:32:04 > 0:32:06Let's take a look.
0:32:18 > 0:32:22Well, into the property. Looks to be in fairly decent nick.
0:32:22 > 0:32:25Up here, two decent-sized bedrooms,
0:32:25 > 0:32:28which is good to see, and then, joy of joys,
0:32:28 > 0:32:32this room here - a really good-sized lounge.
0:32:32 > 0:32:38Big window, you might want to do something to update the decoration.
0:32:38 > 0:32:40Not to everyone's taste.
0:32:40 > 0:32:45Nowhere more so, of course, than here in the kitchen.
0:32:45 > 0:32:49Now, this stuff was big news in the 1970s
0:32:49 > 0:32:52and I remember my dad completely redoing our kitchen like this,
0:32:52 > 0:32:54so definitely spend some time in here
0:32:54 > 0:32:58and you also want to work on this layout - it just doesn't work.
0:32:58 > 0:33:03It's a thoroughfare to the back door and also the loo.
0:33:03 > 0:33:06Maybe consider taking out one of these sides
0:33:06 > 0:33:07so you've just got a bit more space.
0:33:07 > 0:33:10Whatever you do, something needs to be done.
0:33:10 > 0:33:13That said, the bathroom is actually really quite pleasant.
0:33:13 > 0:33:15Hasn't got a bath, it's got a shower,
0:33:15 > 0:33:18but that looks like it's been reasonably recently redone.
0:33:18 > 0:33:21A bit of a utility area there.
0:33:21 > 0:33:25So on balance, what you've got here
0:33:25 > 0:33:27is actually quite a nice-sized flat.
0:33:27 > 0:33:29MUSIC: "Gimme! Gimme! Gimme!" by ABBA
0:33:29 > 0:33:32Down the back stairs and you're out into a yard
0:33:32 > 0:33:34shared with the ground-floor flat
0:33:34 > 0:33:35and a gnome.
0:33:37 > 0:33:40Back inside, beyond redecorating and replacing the kitchen,
0:33:40 > 0:33:43it looks like there's one big job to do
0:33:43 > 0:33:46which will definitely require a certified installer
0:33:46 > 0:33:48and certainly a sensible installer.
0:33:51 > 0:33:53One of the things that never ceases to amaze me
0:33:53 > 0:33:55when I'm filming Homes Under The Hammer
0:33:55 > 0:34:00is some of the amazing design disasters I encounter.
0:34:00 > 0:34:02For instance, here.
0:34:02 > 0:34:03A little cupboard.
0:34:05 > 0:34:07"What's stopping it closing?",
0:34:07 > 0:34:08I hear you cry. Well...
0:34:10 > 0:34:12Here's the hot water cylinder.
0:34:13 > 0:34:15And it gets better, look at this.
0:34:15 > 0:34:18It's actually been installed on top of the carpet.
0:34:18 > 0:34:20Brilliant.
0:34:20 > 0:34:23But what it does also point towards
0:34:23 > 0:34:26is the fact that this is the hot water cylinder,
0:34:26 > 0:34:30but there's no other heating in the property that I can see,
0:34:30 > 0:34:34so you are going to factor in either some kind of electric boiler
0:34:34 > 0:34:37or possibly running gas into the property or oil
0:34:37 > 0:34:40to provide that much-needed central heating.
0:34:40 > 0:34:45And then, of course, relocate this, please!
0:34:47 > 0:34:52Now, you know Lucy and I and our mantra about reading the legal pack.
0:34:52 > 0:34:55But in this case, I'll let you off, because there isn't one.
0:34:55 > 0:34:58This flat is being sold at auction as option two,
0:34:58 > 0:35:00which means no legal pack,
0:35:00 > 0:35:05but you do get an additional 14 days to the usual 28 before completion,
0:35:05 > 0:35:08giving your solicitor extra time to check it out,
0:35:08 > 0:35:10because not knowing the legal ins and outs
0:35:10 > 0:35:12could really hamper your plans.
0:35:15 > 0:35:17When you're buying any property,
0:35:17 > 0:35:19one of the most important things to check out, of course,
0:35:19 > 0:35:21is its legal status, freehold or leasehold,
0:35:21 > 0:35:25and that's particularly important when it comes to buying flats.
0:35:25 > 0:35:28For instance, in this case, there's a loft hatch there
0:35:28 > 0:35:31and you might think, "Fantastic, storage, or even better,
0:35:31 > 0:35:34"possibly something I could expand into.
0:35:34 > 0:35:36"Possibly put in an extra bedroom
0:35:36 > 0:35:39"or just create a really nice loft space."
0:35:39 > 0:35:43The thing is, you don't know until you check out the status
0:35:43 > 0:35:46whether or not you own basically what's above the ceiling
0:35:46 > 0:35:50in the property. That could be owned by the freeholder.
0:35:50 > 0:35:53Get your solicitor to check it out before you do anything.
0:35:53 > 0:35:56You'd need to get your finances checked out too.
0:35:56 > 0:36:00Whether the property is freehold or leasehold could decide
0:36:00 > 0:36:02whether you can actually buy.
0:36:02 > 0:36:04Some lenders won't lend on freehold flats
0:36:04 > 0:36:08as the legal and maintenance issues can be complex,
0:36:08 > 0:36:12so you may need to have cash to buy a freehold property.
0:36:12 > 0:36:15But one of the advantages of buying under option two
0:36:15 > 0:36:17is that if there is a legal issue,
0:36:17 > 0:36:21you can pull out before contracts are exchanged
0:36:21 > 0:36:22and get your deposit back.
0:36:24 > 0:36:26We asked along the local estate agent
0:36:26 > 0:36:27to get his thoughts on the flat.
0:36:30 > 0:36:32The property is in need of some modernisation.
0:36:32 > 0:36:35It is in need of a new kitchen, it needs central heating,
0:36:35 > 0:36:39but it's ideally suited, either for a first-time buyer or,
0:36:39 > 0:36:43for me personally, there's some good rental opportunities here.
0:36:45 > 0:36:47And with or without a loft conversion,
0:36:47 > 0:36:50what might the flat fetch on the rental market?
0:36:51 > 0:36:53Following the refurbishment of the flat,
0:36:53 > 0:36:57my estimate would be £500 per calendar month.
0:36:57 > 0:37:00With the additional loft conversion and bathroom facility,
0:37:00 > 0:37:04my estimate would be £500-£575 per calendar month.
0:37:05 > 0:37:07And on the resale market?
0:37:08 > 0:37:10If the flat was to be renovated,
0:37:10 > 0:37:14my estimate for the valuation would be between £65,000-£70,000.
0:37:14 > 0:37:18If a loft space was created with an additional bedroom and a bathroom,
0:37:18 > 0:37:22my estimate would be £75,000-£80,000.
0:37:22 > 0:37:24Well, it's a pretty decent location
0:37:24 > 0:37:26and quite a lot of flat for the money,
0:37:26 > 0:37:29given that it's in not bad nick,
0:37:29 > 0:37:32so who decided this was the one for them?
0:37:32 > 0:37:34Let's find out when it went under the hammer.
0:37:36 > 0:37:39Lot number 76,
0:37:39 > 0:37:42it's a traditional two-bed first-floor flat.
0:37:42 > 0:37:44Who wants to start me at 46?
0:37:45 > 0:37:49There at £46,000. Do I have 47 anywhere else?
0:37:49 > 0:37:5247? 47 bid. 48?
0:37:52 > 0:37:5348 bid.
0:37:53 > 0:37:5549 bid, 50.
0:37:55 > 0:37:57Do I have 51 anywhere else?
0:37:57 > 0:37:5851 sitting down.
0:37:58 > 0:37:5952.
0:37:59 > 0:38:02Sitting down at 51. 52 again?
0:38:02 > 0:38:0452.
0:38:04 > 0:38:07I'm here on the third row at £51,000
0:38:07 > 0:38:10and I'm selling it once at 51, so you're both out?
0:38:10 > 0:38:13I'm selling for the second time at £51,000.
0:38:14 > 0:38:18Sold to the gentleman sitting in the room at £51,000.
0:38:20 > 0:38:23And snapping this one up for £51,000 was James,
0:38:23 > 0:38:26here in the white shirt, and his wife Donna.
0:38:29 > 0:38:33James and Donna live locally and know the area well.
0:38:33 > 0:38:36I met James back at the flat to find out his plans for this,
0:38:36 > 0:38:39the latest addition to their growing property portfolio.
0:38:39 > 0:38:42- James, great to meet you. - Pleased to meet you, Martin.
0:38:42 > 0:38:44- Congratulations. - Thank you very much.
0:38:44 > 0:38:45So tell me why you wanted to buy the flat.
0:38:45 > 0:38:47We've got a property up the road
0:38:47 > 0:38:50and we drive past it every day so we know the area.
0:38:50 > 0:38:53We only live just a couple of miles up the road and we saw
0:38:53 > 0:38:57that it was going for a good price, so we thought we'd go for it.
0:38:57 > 0:39:00We know the location's good and we'll always rent it.
0:39:00 > 0:39:03What was it about it that particularly appealed, then?
0:39:03 > 0:39:04The price, mainly.
0:39:04 > 0:39:07It was very reasonable and we hoped if it didn't go up too much
0:39:07 > 0:39:11in the auction that we could get it for around that price
0:39:11 > 0:39:14and we'd still have profit and we could get decent rentals for it.
0:39:15 > 0:39:19So getting this for just a grand over the guide price
0:39:19 > 0:39:20was a pretty good result.
0:39:20 > 0:39:23James's solicitor gave the property a clean bill of health
0:39:23 > 0:39:26and the flat turned out to be leasehold,
0:39:26 > 0:39:29which means that James does not own the loft space.
0:39:29 > 0:39:32So he's looking into whether he can buy that
0:39:32 > 0:39:35and do a loft conversion further down the line.
0:39:36 > 0:39:39So what was it about the flat itself that you quite liked?
0:39:39 > 0:39:44More the location and the cost, really. We didn't view it beforehand.
0:39:44 > 0:39:45MARTIN GASPS AND TUTS
0:39:45 > 0:39:47But we know the style of house.
0:39:47 > 0:39:49We came past it, we drive past it every day,
0:39:49 > 0:39:52so we know that it's fairly sound. We knew that the windows were new.
0:39:52 > 0:39:54We also knew that it hasn't got any gas,
0:39:54 > 0:39:56because it wasn't advertised as having gas,
0:39:56 > 0:39:58so we know that's a job to do,
0:39:58 > 0:40:01but we've budgeted for it and we knew where we could go
0:40:01 > 0:40:05in terms of the auction and what potential we had for making it good.
0:40:05 > 0:40:08- We're still leaving a little bit of equity in it for us as well.- OK.
0:40:08 > 0:40:10You say you knew what the design was like - it's just as well,
0:40:10 > 0:40:13- cos it could have been a bit of a shock when you first saw it.- Yeah.
0:40:13 > 0:40:16Had you not been aware of this kind of design, cos it's quite unusual.
0:40:16 > 0:40:19Nothing wrong with it, but it's just odd.
0:40:19 > 0:40:22- It's fairly standard for the area. - Is it?
0:40:22 > 0:40:24They usually often have the kitchens out the back.
0:40:24 > 0:40:26The living room is bigger than we expected,
0:40:26 > 0:40:29but we had seen the bedrooms were a good size.
0:40:29 > 0:40:32I was able to safely assume and it was nice to turn up
0:40:32 > 0:40:34- and see that I was actually right. - Yeah.
0:40:34 > 0:40:36Having bought it.
0:40:38 > 0:40:42Not viewing the property before the auction was certainly risky,
0:40:42 > 0:40:46perhaps even more so, as there was no legal pack to read,
0:40:46 > 0:40:49but James's local knowledge appears to have paid off.
0:40:49 > 0:40:53So tell me, then, what you're planning to do to sort it out.
0:40:53 > 0:40:55First thing is to install gas.
0:40:55 > 0:40:59There's no gas in the property, so we'll have to get that factored in.
0:40:59 > 0:41:01Cost of that?
0:41:01 > 0:41:03About 2,000-2,500.
0:41:03 > 0:41:07- Yeah.- Including boiler and new radiators, probably plastic piping.
0:41:07 > 0:41:10- What, and getting them to connect it?- Yep.
0:41:10 > 0:41:11- Have you got a quote for that?- Yep.
0:41:11 > 0:41:14Sometimes that connection bit is really steep.
0:41:14 > 0:41:16Quite fortunate that we've got quite a good gas fitter,
0:41:16 > 0:41:18who's very, very reasonable as well.
0:41:18 > 0:41:21- OK. - That's quite working into our favour.
0:41:21 > 0:41:22We're going to change the kitchen,
0:41:22 > 0:41:24cos we don't really want it staying as it is,
0:41:24 > 0:41:27so we're going to strip everything out, change the doors.
0:41:27 > 0:41:29We're going to move the door over a little bit
0:41:29 > 0:41:30so it just runs straight through.
0:41:30 > 0:41:32We're going to keep the separate utility
0:41:32 > 0:41:35and probably have space for a washer/dryer there
0:41:35 > 0:41:39and then keep the bathroom as it is and take all the wood panelling off,
0:41:39 > 0:41:42get rid of all the Artex, plaster the walls
0:41:42 > 0:41:45and then really just redecorate throughout
0:41:45 > 0:41:48and then possible loft extension if we can,
0:41:48 > 0:41:51- depending on cost. - What's your budget?
0:41:51 > 0:41:53If we just keep it as a two-bed,
0:41:53 > 0:41:59- between 7,500-10,000.- OK. - And if we extend into the loft,
0:41:59 > 0:42:02- I would go up to about 15,000 for that.- Right.
0:42:02 > 0:42:03So what's the timescale?
0:42:03 > 0:42:06I would hope to get it done in three to four months,
0:42:06 > 0:42:09but realistically I'd allow six months to be on the safe side.
0:42:09 > 0:42:10And who's going to do the work?
0:42:10 > 0:42:12We'll get builders in to do plastering
0:42:12 > 0:42:16and I'll do decorating and we'll get carpets fitted by professionals.
0:42:16 > 0:42:19Obviously, if we do go into the loft, it'll be done by a professional,
0:42:19 > 0:42:21the building regs and everything like that.
0:42:22 > 0:42:25It'll be a combination of myself and a team of builders.
0:42:25 > 0:42:28James and his wife have properties nearby
0:42:28 > 0:42:30and plan on having more to rent
0:42:30 > 0:42:33and they are also looking to sell the family home
0:42:33 > 0:42:34and move to a bigger one,
0:42:34 > 0:42:39but James isn't giving up on the day job as an IT manager with the NHS.
0:42:39 > 0:42:41So the property side of things
0:42:41 > 0:42:43is more a sort of passion and a sideline?
0:42:43 > 0:42:45It's a passion but it's something we'd like to do full-time
0:42:45 > 0:42:49in the long run, but you've got to make enough to make it worthwhile.
0:42:49 > 0:42:52I wouldn't risk taking the jump both feet.
0:42:52 > 0:42:54I'd want to do it more gradually
0:42:54 > 0:42:56until we can afford just to do it full-time.
0:42:56 > 0:42:58My wife's dad is a landlord,
0:42:58 > 0:43:01my parents have got a couple of properties
0:43:01 > 0:43:02and they've got businesses as well.
0:43:02 > 0:43:04- Right.- It's in the blood, really. - Good.
0:43:04 > 0:43:07- Congratulations.- Thank you. - Good luck with it.
0:43:07 > 0:43:10- Thank you.- Looking forward to seeing how you get on.- Thank you very much.
0:43:10 > 0:43:13There you go - James proving that local knowledge
0:43:13 > 0:43:17is a really useful thing to have when it comes to buying property
0:43:17 > 0:43:20and I'm glad that he wasn't too badly caught out
0:43:20 > 0:43:22by the whole freehold/leasehold issue.
0:43:22 > 0:43:25How will he get on sorting this place out?
0:43:25 > 0:43:26You can find out later in the show.
0:43:30 > 0:43:31Well, after the work has been done,
0:43:31 > 0:43:34we hope those properties will be worth a lot more money.
0:43:34 > 0:43:38Have those buyers got started or been waylaid with problems?
0:43:38 > 0:43:40Yeah, because time is money.
0:43:40 > 0:43:42Let's go back and find out how they're getting on.
0:43:48 > 0:43:53We sail back now to Dover, on the southeast coast of Kent,
0:43:53 > 0:43:54where earlier I met Debbie,
0:43:54 > 0:43:58who buys and renovates properties for third-party investors.
0:44:00 > 0:44:04She bought this tiny studio flat for just £36,000.
0:44:06 > 0:44:11It didn't look much, but Debbie and her investor were weighing up plans
0:44:11 > 0:44:14that range from a quick refurbishment to something grander.
0:44:14 > 0:44:17It is just a room with a window and a door,
0:44:17 > 0:44:20but a really nice, sunny garden.
0:44:20 > 0:44:23Yeah. I mean, it's got loads of potential.
0:44:23 > 0:44:29We haven't quite got the total plan in place for this yet,
0:44:29 > 0:44:32but it is going to be possible to extend out into the garden,
0:44:32 > 0:44:35because the garden's at least 40 foot long,
0:44:35 > 0:44:38but at the moment I'm waiting for a price for a conservatory
0:44:38 > 0:44:43that we could walk straight into, so the conservatory would be on stilts
0:44:43 > 0:44:50or on a platform as such, with strong timber beams to take its weight.
0:44:50 > 0:44:53That would then make this into a one-bed flat
0:44:53 > 0:44:56with a stunning glass conservatory with a fantastic view.
0:44:58 > 0:45:01The real potential in this flat was in that huge garden -
0:45:01 > 0:45:04either as a means of extending or just as a lovely place
0:45:04 > 0:45:06to bask in the summer sun.
0:45:06 > 0:45:08So what was the final decision?
0:45:12 > 0:45:15We came back three months later to find out.
0:45:15 > 0:45:17MUSIC: "Space Cowboy" by Jamiroquai
0:45:17 > 0:45:20# Everything is good
0:45:20 > 0:45:22# And brown
0:45:22 > 0:45:25# Oh, I'm here again
0:45:25 > 0:45:27# With a sunshine smile upon my face
0:45:27 > 0:45:31# My friends are close at hand
0:45:31 > 0:45:36# And all my inhibitions have disappeared without a trace
0:45:36 > 0:45:37# I'm glad
0:45:37 > 0:45:40# Oh, I found... #
0:45:40 > 0:45:44The studio has had more of a rejuvenation than a face-lift,
0:45:44 > 0:45:48with new flooring throughout and a much improved kitchen and bathroom.
0:45:51 > 0:45:54It still needs the final touches, but what a change.
0:45:55 > 0:45:59However, the story outside is that Debbie and her client
0:45:59 > 0:46:02haven't gone for an extension after all.
0:46:02 > 0:46:06We decided not to go ahead with the conservatory or sun room,
0:46:06 > 0:46:10simply because when we were weighing up time versus cost,
0:46:10 > 0:46:12it really would have slowed us down.
0:46:12 > 0:46:15Getting that planning permission would have put us months behind
0:46:15 > 0:46:19and at the end of the day, it's still got a really lovely view
0:46:19 > 0:46:21out of this window and when the sun shines,
0:46:21 > 0:46:26that's going to be a nice little heat trap, the patio down there,
0:46:26 > 0:46:31and whoever buys this may want to add on to the back themselves,
0:46:31 > 0:46:33so the option's still there.
0:46:33 > 0:46:35But for us, it wouldn't have worked.
0:46:37 > 0:46:39I must confess,
0:46:39 > 0:46:42I am a bit disappointed that there is no conservatory.
0:46:42 > 0:46:46It really would have added that wow factor as well as value.
0:46:46 > 0:46:48But in property development, you've got to make the time
0:46:48 > 0:46:52and money work, so no point in letting your heart rule your head.
0:46:54 > 0:46:56And whilst it isn't quite finished yet,
0:46:56 > 0:46:59this little studio has shaken off its dingy, damp past.
0:47:01 > 0:47:05This property has literally only got a new floor, a new kitchen,
0:47:05 > 0:47:09a new bathroom and paintwork and that's about it.
0:47:10 > 0:47:13We haven't redone the electrics or heating system.
0:47:13 > 0:47:16It's the same as it was when we bought it,
0:47:16 > 0:47:18so it's quite a simple one.
0:47:18 > 0:47:21Outside, the garden when we first bought it
0:47:21 > 0:47:23was literally just bare earth
0:47:23 > 0:47:26with rather a lot of rubbish out there as well.
0:47:26 > 0:47:29Basically removed all the rubbish and turfed over,
0:47:29 > 0:47:32made the steps safe, because the steps were very uneven
0:47:32 > 0:47:34and a little bit of a safety issue
0:47:34 > 0:47:37and the garden's come out really nice.
0:47:37 > 0:47:40Potentially, it could be really nice for somebody
0:47:40 > 0:47:43if they're into a vegetable patch or whatever down the bottom.
0:47:43 > 0:47:45There's plenty of room out there.
0:47:46 > 0:47:51For this simple renovation, Debbie had earmarked a two-week turnaround,
0:47:51 > 0:47:54but it took over two months, so why the delay?
0:47:56 > 0:47:58It took about three weeks for us
0:47:58 > 0:48:01to decide on the appropriate course of action with it -
0:48:01 > 0:48:03are we going to build at the back or not?
0:48:05 > 0:48:08And we also had a holiday season in the way,
0:48:08 > 0:48:13but once that was all done, we've got back and we've got stuck in
0:48:13 > 0:48:17and we got 95% of the work done in two to three weeks.
0:48:17 > 0:48:22We've spent about 10,000 here, which is what we thought, really.
0:48:22 > 0:48:24We're hoping to get a good resale price
0:48:24 > 0:48:30and also we put reasonably expensive flooring in
0:48:30 > 0:48:32and solid woodwork surfaces and things,
0:48:32 > 0:48:35so it'll make it a little bit more attractive.
0:48:35 > 0:48:38With that £10,000 refurbishment cost
0:48:38 > 0:48:41added to her purchase price of 36,000,
0:48:41 > 0:48:45Debbie's client has now invested £46,000,
0:48:45 > 0:48:48minus Debbie's fees and taxes and so on.
0:48:49 > 0:48:51So has it been a good investment
0:48:51 > 0:48:53and a wise move to keep the flat as a studio?
0:48:54 > 0:48:56What did two estate agents think?
0:48:58 > 0:49:00There is always demand for studio flats.
0:49:00 > 0:49:02Lower end of the market in terms of pricing.
0:49:02 > 0:49:04There are always people looking,
0:49:04 > 0:49:09so I don't think there'll be much problem in selling this one on.
0:49:09 > 0:49:13I think having a garden with the flat makes it a much nicer proposition,
0:49:13 > 0:49:16whether you're going to rent it or buy it,
0:49:16 > 0:49:18because you've got that much more space
0:49:18 > 0:49:21and somewhere to sit in the summer, etc.
0:49:21 > 0:49:26When completed, this flat would sell for in the region of £55,000.
0:49:26 > 0:49:28If this flat was put onto the open market,
0:49:28 > 0:49:32I think would achieve somewhere in the region of £75,000.
0:49:32 > 0:49:35I think 55's too low
0:49:35 > 0:49:38and it'd be great if we got 75,
0:49:38 > 0:49:41but I think 65's a safe bet
0:49:41 > 0:49:43and we will obviously try and market it for more
0:49:43 > 0:49:46if we think we can get more.
0:49:46 > 0:49:48But, yeah,
0:49:48 > 0:49:51I have to say I'm not totally surprised.
0:49:51 > 0:49:54With an average valuation of 65,000,
0:49:54 > 0:49:59that would mean a pre-tax profit of £19,000, minus taxes and expenses,
0:49:59 > 0:50:00and Debbie's fee, of course.
0:50:02 > 0:50:06The quality of the work means the average rental would be £450,
0:50:06 > 0:50:09which, if you remember, was the predicted income
0:50:09 > 0:50:14if Debbie did add an extra room, meaning a yield of 11%.
0:50:16 > 0:50:17I think she'd be delighted.
0:50:17 > 0:50:20Yeah, absolutely.
0:50:20 > 0:50:24I mean, I appreciate it's not totally finished yet,
0:50:24 > 0:50:28but it's been really simple to do, quick, easy
0:50:28 > 0:50:31and I really do think it'll sell quite quickly as well,
0:50:31 > 0:50:34because it's going to be a low-price property,
0:50:34 > 0:50:38so I think it's an all-round good, solid investment
0:50:38 > 0:50:40and I wish there were more like this.
0:50:43 > 0:50:45Well, there are more, Debbie,
0:50:45 > 0:50:47although maybe not quite as straightforward.
0:50:47 > 0:50:51Like this two-bed, first-floor flat in Hazlerigg,
0:50:51 > 0:50:54which had a rather idiosyncratic layout.
0:50:54 > 0:50:57It was bought at auction for £51,000 by James,
0:50:57 > 0:51:00who works full-time in IT for the NHS,
0:51:00 > 0:51:05but is in the process of building up a property portfolio in the area
0:51:05 > 0:51:06with his wife Donna,
0:51:06 > 0:51:10and James was hoping that his local knowledge would keep him right.
0:51:10 > 0:51:13We didn't view it beforehand. MARTIN GASPS
0:51:13 > 0:51:15But we know the style of house.
0:51:15 > 0:51:17We came past it, we drive past it every day,
0:51:17 > 0:51:19so we know that it's fairly sound.
0:51:19 > 0:51:20We knew that the windows were new.
0:51:20 > 0:51:22We also knew that it hasn't got any gas,
0:51:22 > 0:51:25because it wasn't advertised as having gas,
0:51:25 > 0:51:26so we know that's a job to do.
0:51:26 > 0:51:30Beyond having gas fitted, James was planning to re-jig the kitchen
0:51:30 > 0:51:32and drag the rest of the flat
0:51:32 > 0:51:34kicking and screaming out of the 1980s.
0:51:34 > 0:51:38He had a budget of between £7,500-£10,000,
0:51:38 > 0:51:40but more if a loft conversion was possible
0:51:40 > 0:51:43and a realistic six-month timescale.
0:51:43 > 0:51:46Well, five and half months after our first visit,
0:51:46 > 0:51:49we're back to see if the flat is a little bit more up-to-date.
0:51:49 > 0:51:52MUSIC: "Best Day Of My Life" by American Authors
0:51:52 > 0:51:54# Ooh, ooh, ooh
0:51:54 > 0:51:58# This is going to be the best day of my life
0:51:58 > 0:52:01# My li-i-i-i-i-i-ife
0:52:01 > 0:52:04# Ooh, ooh, ooh
0:52:04 > 0:52:08# This is going to be the best day of my life
0:52:08 > 0:52:11# My li-i-i-i-i-i-fe
0:52:11 > 0:52:14# Ooh, ooh, ooh, ooh... #
0:52:16 > 0:52:18That'll do nicely, James.
0:52:18 > 0:52:21Admittedly, there was nothing to do in the bathroom,
0:52:21 > 0:52:24but the rest of the flat is looking much more contemporary
0:52:24 > 0:52:26and nowhere more so than in the kitchen.
0:52:28 > 0:52:31Originally there were two 600-depth kitchen units on either side,
0:52:31 > 0:52:33so it was actually very narrow. It was quite a tight squeeze,
0:52:33 > 0:52:36there wasn't really room to turn round or do anything in the kitchen,
0:52:36 > 0:52:39so what we did was actually move the door across
0:52:39 > 0:52:43to make it a straight run through the kitchen and we put wall units down
0:52:43 > 0:52:46on the lower right-hand side and it gives much more space.
0:52:46 > 0:52:49There's much more freedom to turn round and make use of the appliances
0:52:49 > 0:52:53and open the doors without hitting your knees, that kind of thing.
0:52:54 > 0:52:58But replacing the kitchen hasn't exactly been straightforward.
0:52:59 > 0:53:02First of all, we stripped all the wood panelling off in the kitchen
0:53:02 > 0:53:04and the wiring was just a mess.
0:53:04 > 0:53:08There were live wires lying all over which weren't ended.
0:53:08 > 0:53:10There was dead cables in the floor
0:53:10 > 0:53:13which we had to get actually disconnected and tidied away
0:53:13 > 0:53:16in order to get certification so that it wasn't dangerous.
0:53:16 > 0:53:19Also, when we'd finished doing the plastering
0:53:19 > 0:53:21and I started doing the decorating,
0:53:21 > 0:53:24there was a leak actually in the top corner of the room,
0:53:24 > 0:53:27so we had to get one of our labourers up to actually fix that
0:53:27 > 0:53:29and, thankfully, it's not reoccurred since,
0:53:29 > 0:53:32even though we've had some pretty poor weather.
0:53:34 > 0:53:36I'm glad to see that the wood has gone
0:53:36 > 0:53:41and I'm also pleased to see that the huge water tank has been sorted
0:53:41 > 0:53:43and a new combi boiler installed.
0:53:47 > 0:53:50There was no gas at all to the property.
0:53:50 > 0:53:52The previous tenants had only had electric heaters,
0:53:52 > 0:53:54so I don't know how they got by in the winter,
0:53:54 > 0:53:56but we had to get the gas connected in the road
0:53:56 > 0:54:00and actually get the gas meter fitted and then the boiler,
0:54:00 > 0:54:02the radiators, all the pipe work needed to go in,
0:54:02 > 0:54:04so that was a fairly major job
0:54:04 > 0:54:07and required quite a bit of planning and time in order to get it done
0:54:07 > 0:54:10and obviously cost a fair amount of money.
0:54:11 > 0:54:12Like how much?
0:54:13 > 0:54:16It cost £3,500 in total.
0:54:16 > 0:54:19The actual connection cost in the road wasn't too bad.
0:54:19 > 0:54:23It was just the cost of the boiler, the labour as well, the radiators.
0:54:23 > 0:54:25All the pipe work and everything as well.
0:54:26 > 0:54:29Three and a half grand is certainly a chunk of money,
0:54:29 > 0:54:33but I do think it was the right thing to do.
0:54:33 > 0:54:36And with all that going on, it's not surprising that James decided
0:54:36 > 0:54:39not to tackle the loft space this time round,
0:54:39 > 0:54:41especially as he has managed
0:54:41 > 0:54:44to be quite hands-on here despite his day job.
0:54:44 > 0:54:47I did a lot of the stripping out originally,
0:54:47 > 0:54:50and then also I did a little bit of the decoration
0:54:50 > 0:54:52and fitting a few of the skirting boards
0:54:52 > 0:54:54and the door handles, that kind of thing.
0:54:54 > 0:54:57A lot of the work was done by tradesmen.
0:54:57 > 0:55:00Unfortunately, I can't plaster, I can't do electrics
0:55:00 > 0:55:01and I can't do gas at the minute,
0:55:01 > 0:55:04but that's things I'd like to possibly learn in the future,
0:55:04 > 0:55:07but at this stage it's just the practicality
0:55:07 > 0:55:10of actually getting the job done to a good standard, and safely.
0:55:12 > 0:55:15There are a few little bits to tidy up,
0:55:15 > 0:55:18but everything should be finished within the six-month timescale
0:55:18 > 0:55:22and the budget has come in at £9,500,
0:55:22 > 0:55:24which is pretty respectable, really.
0:55:26 > 0:55:29So has the outcome of the project tempted him to give up the day job?
0:55:30 > 0:55:34It's harder to balance this on top of a full-time job
0:55:34 > 0:55:36than I possibly appreciated,
0:55:36 > 0:55:38but I would definitely consider doing it full-time
0:55:38 > 0:55:39if the opportunity arose
0:55:39 > 0:55:42and the financial stability was there to do it.
0:55:44 > 0:55:46Well, now for the moment of truth.
0:55:46 > 0:55:51A spend of £9,500 added to his purchase price of 51,000
0:55:51 > 0:55:56brings James's total spend here to £60,500.
0:55:56 > 0:55:58We asked along two local estate agents
0:55:58 > 0:56:01to get their thoughts on the renovated flat.
0:56:01 > 0:56:05The property has been done to quite a good standard
0:56:05 > 0:56:09with modern living space, a very spacious, refitted kitchen
0:56:09 > 0:56:12and a nice, clean and tidy bathroom.
0:56:12 > 0:56:16I think the property's a really lovely, spacious accommodation.
0:56:16 > 0:56:19It's a nice, neutral colour scheme and I think it would really benefit
0:56:19 > 0:56:23a first-time buyer, a couple looking for their first property.
0:56:23 > 0:56:26James is undecided whether to rent or sell the property,
0:56:26 > 0:56:28so let's start with the rental market.
0:56:28 > 0:56:31What did the experts think?
0:56:33 > 0:56:35I would recommend putting the property on the market
0:56:35 > 0:56:39at £450-£475 per calendar month.
0:56:39 > 0:56:46This property would rent on the market at £475 per calendar month.
0:56:46 > 0:56:48I would have said about 400, to be honest,
0:56:48 > 0:56:51so anything above that is good, really.
0:56:52 > 0:56:55It is really good, James.
0:56:55 > 0:56:57That top figure of £475 per calendar month
0:56:57 > 0:57:01would give you a very healthy yield of around 9.5%.
0:57:02 > 0:57:04What could it sell for?
0:57:05 > 0:57:11The value of this property I would state at £75,000.
0:57:11 > 0:57:15I would recommend marketing this property at £75,000.
0:57:16 > 0:57:19Initially I was thinking probably about 80.
0:57:20 > 0:57:24A sale at the estate agents' valuation of 75,000
0:57:24 > 0:57:30would mean a profit before taxes and expenses of £14,500.
0:57:30 > 0:57:34He doesn't seem enamoured by the valuation, so what's his decision?
0:57:34 > 0:57:37We'll probably market it at what we think is the right value
0:57:37 > 0:57:39and then we'll see if we get any interest from there and then,
0:57:39 > 0:57:41if not, we'll rent it.
0:57:43 > 0:57:46We'll have more property auction stories for you next time,
0:57:46 > 0:57:51some with happy endings and some with less fortunate outcomes.
0:57:51 > 0:57:53Whatever, they're interesting stories.
0:57:53 > 0:57:58- Join us next time for more Homes Under The Hammer.- Goodbye!