0:00:02 > 0:00:03Property can have its highs and lows.
0:00:03 > 0:00:05It's not as easy as it appears,
0:00:05 > 0:00:06especially if you get stuck in a chain.
0:00:06 > 0:00:10But you can eliminate that chain by going to the auctions.
0:00:36 > 0:00:38Well, there are all sorts of properties
0:00:38 > 0:00:40being sold at the auctions these days.
0:00:40 > 0:00:44Their buyers have a huge variety of plans and budgets for them.
0:00:44 > 0:00:47So here are the three properties that we're featuring
0:00:47 > 0:00:49on today's Homes Under The Hammer.
0:00:51 > 0:00:53It's time to get my creative hat on with this
0:00:53 > 0:00:56property in Crewe in Cheshire.
0:00:56 > 0:01:02You could so transform it with some basic interior decoration!
0:01:02 > 0:01:06While I see a lot in Surrey that's even got the local estate agent excited!
0:01:06 > 0:01:08It is very unusual to find a building plot.
0:01:08 > 0:01:10I've worked here for 20 years
0:01:10 > 0:01:12and I think this is the second one I've come across.
0:01:12 > 0:01:16And in County Durham, this house might not be such a unique lot,
0:01:16 > 0:01:19but there are quite a few plus points.
0:01:19 > 0:01:23All in all, then, yes, I think the property gets a tick.
0:01:23 > 0:01:25All these properties have been sold at auction.
0:01:25 > 0:01:28We'll find out who bought them and what they paid for them
0:01:28 > 0:01:30when they went under the hammer.
0:01:30 > 0:01:32Your lot, sir. Well done.
0:01:35 > 0:01:40Whatever you think you know about Crewe in Cheshire, think again.
0:01:40 > 0:01:45Because the famous railway station and not-so-famous town centre
0:01:45 > 0:01:49have been undergoing a major regeneration in recent years.
0:01:49 > 0:01:52And people want to live here. Lots of people.
0:01:52 > 0:01:56The advent of High Speed II might mean Crewe will be even more
0:01:56 > 0:01:58important as a key interchange.
0:01:58 > 0:02:01Couple these factors along with a healthy student population,
0:02:01 > 0:02:06this is definitely a first-class place to invest.
0:02:06 > 0:02:09So, I'm hoping to find a property with a bit of a buzz about it.
0:02:09 > 0:02:13Well, the street certainly bodes well. Nice, handsome properties.
0:02:13 > 0:02:17And this is the one I'm here to see. It's a three-bedroomed,
0:02:17 > 0:02:21spacious - according to the auction catalogue - mid-terrace.
0:02:21 > 0:02:24Guide price was £55,000 plus. In we go.
0:02:25 > 0:02:28This is a pretty handsome-looking Victorian street
0:02:28 > 0:02:32and the exterior detail is quite elegant.
0:02:32 > 0:02:36So, through the front door and, first thing that greets you,
0:02:36 > 0:02:41this lovely Minton floor. Looks like it's seen better days.
0:02:41 > 0:02:44But it gives you an idea of the kind of house this was.
0:02:44 > 0:02:47Because that would have been put in, basically, in its day,
0:02:47 > 0:02:49a more upmarket property.
0:02:49 > 0:02:52So I'm hoping that that follows through with the rest of the house.
0:02:52 > 0:02:55And sure enough, a few lovely features up there, and there is
0:02:55 > 0:02:58just that sense the moment you walk through the door.
0:02:58 > 0:03:00So, what have we got? Hallway there,
0:03:00 > 0:03:06very large front sort of bay window fronted living area there.
0:03:06 > 0:03:09Another lovely sort of dining room at the back.
0:03:09 > 0:03:11And through to the kitchen.
0:03:11 > 0:03:14I really like this sunny front room.
0:03:14 > 0:03:17Those bay windows just let in so much light.
0:03:17 > 0:03:20It's a typical Victorian house where elegance
0:03:20 > 0:03:22and space were the order of the day.
0:03:22 > 0:03:26But beyond the back reception room, in a less elegant extension,
0:03:26 > 0:03:28is the kitchen.
0:03:28 > 0:03:31Well, you'd hope it would be a kitchen in keeping with
0:03:31 > 0:03:34the character of the house. Sadly not.
0:03:34 > 0:03:38But the good news is, a room you could definitely make massive
0:03:38 > 0:03:41changes to and therefore add value to the property.
0:03:41 > 0:03:45Back there, additional space, a utility and a downstairs loo.
0:03:45 > 0:03:49So, a bit of a disappointment, but who cares? It's good.
0:03:49 > 0:03:51I love this house.
0:03:51 > 0:03:55# Could it be I'm falling in love?
0:03:55 > 0:03:59# Could it be I'm falling in love
0:03:59 > 0:04:01# With you? #
0:04:01 > 0:04:03Yes, I know, beauty is in the eye of the beholder.
0:04:03 > 0:04:06But this house isn't about what it looks like now, it's the potential
0:04:06 > 0:04:11of what it could look like in the future that I find so attractive.
0:04:11 > 0:04:14So, upstairs, pretty traditional layout.
0:04:14 > 0:04:19Three nice-sized bedrooms and a bathroom there as well.
0:04:19 > 0:04:20There is everything you could want.
0:04:20 > 0:04:24I mean, it's one of those houses that you sort of come into
0:04:24 > 0:04:27and you just start uncovering little bits of history.
0:04:27 > 0:04:31Even those tiles there, where a fireplace would have been,
0:04:31 > 0:04:33where the radiator is now. And the floorboards.
0:04:33 > 0:04:38You know, just strip these back and it would be really nice.
0:04:38 > 0:04:40A really exciting project, this one.
0:04:40 > 0:04:42Because there's not too much to do,
0:04:42 > 0:04:48but you could so transform it with some basic interior decoration!
0:04:48 > 0:04:52# When there is always something left to remind me!
0:04:54 > 0:04:57# Always something left to remind me! #
0:04:57 > 0:04:59And while some of the period features might be a bit
0:04:59 > 0:05:03too far gone, I'd be looking to save as much as possible.
0:05:03 > 0:05:07Don't let the wear and tear put you off. You could uncover a gem.
0:05:07 > 0:05:10And that doesn't just apply to the inside of the house.
0:05:10 > 0:05:14There's more worth saving outside.
0:05:14 > 0:05:17Well, at the back of the property, some absolutely lovely features.
0:05:17 > 0:05:20Look at this window. Probably original.
0:05:20 > 0:05:23I think it's in a bit of a state, but if there is any way
0:05:23 > 0:05:26of putting something similar back, you should so do it!
0:05:26 > 0:05:28Retain that character.
0:05:28 > 0:05:32But walking back here, you've got a decent-sized back yard.
0:05:32 > 0:05:37It's laid largely to weeds! No, largely to slabs!
0:05:37 > 0:05:39With a little decking area there, needs tidying up.
0:05:39 > 0:05:42But you have got rear access as well.
0:05:42 > 0:05:45So all in all, it just adds to what is already a really top house.
0:05:45 > 0:05:50This really is a lovely little house and the garden isn't bad at all.
0:05:50 > 0:05:54I'd be inclined to get some greenery, though. Perhaps weed-free!
0:05:54 > 0:05:56The back of the house doesn't really live up to the front
0:05:56 > 0:06:01and the upstairs, but there's nothing here that really worries me.
0:06:01 > 0:06:04Does a local estate agent share my enthusiasm for this house,
0:06:04 > 0:06:07guided at £55,000?
0:06:07 > 0:06:11First impressions of this property is, lovely big property.
0:06:11 > 0:06:15Nice features which they've retained. Nice Minton floor when you come in.
0:06:15 > 0:06:17Nice big rooms. There is work to be done on it.
0:06:17 > 0:06:20Obviously we're looking at new kitchens, new bathrooms
0:06:20 > 0:06:22and probably decor throughout.
0:06:22 > 0:06:26I think the main challenges for this property could be the electrics.
0:06:26 > 0:06:28Possibly damp and timber.
0:06:28 > 0:06:31Certainly anything could come up subject to survey.
0:06:31 > 0:06:34Yes, old houses especially can throw up the unexpected.
0:06:34 > 0:06:37So having some money as a contingency in a budget
0:06:37 > 0:06:39is always advisable.
0:06:39 > 0:06:42To help you do your sums, it's always sensible to find out
0:06:42 > 0:06:45what the property could be worth on the resale market.
0:06:45 > 0:06:47If this property was fully renovated,
0:06:47 > 0:06:51we'd be looking for a resale value of about £95,000.
0:06:51 > 0:06:53And how about a figure for the rental market?
0:06:53 > 0:06:55If this property went to the rental market,
0:06:55 > 0:06:59we'd be looking to get somewhere around £575 per calendar month.
0:07:01 > 0:07:03So, what do you think?
0:07:03 > 0:07:06I think you certainly get a lot of house for your money in Crewe.
0:07:06 > 0:07:11£55,000 plus guide price, it would have set the auction room alight!
0:07:11 > 0:07:14Let's see who bought it when it went under the hammer.
0:07:14 > 0:07:18Well, it was towards the end of the day when this lot came up.
0:07:18 > 0:07:20So was I right about it capturing attention?
0:07:20 > 0:07:24It's a bay-fronted Victorian terraced house. Three spacious bedrooms.
0:07:24 > 0:07:29Two reception rooms. First-floor bathroom. Guiding in at 55.
0:07:29 > 0:07:3448 to start. 48 bid. Thank you. At £48,000. I'll go in ones on this.
0:07:34 > 0:07:3549 can we say now?
0:07:35 > 0:07:39Bid's at 48. 49. At 49. 50?
0:07:39 > 0:07:45£50,000. 51? 51. 52. 53.
0:07:45 > 0:07:5054. 55. 56 anywhere else?
0:07:50 > 0:07:52New bidder. 56.
0:07:52 > 0:07:5457. 58?
0:07:57 > 0:08:00No? At... Yes? 58.
0:08:00 > 0:08:0459. 60? No. At 59, then.
0:08:04 > 0:08:08Your bid, sir, still at £59,000. Standing.
0:08:08 > 0:08:11At £59,000 for the first time.
0:08:11 > 0:08:14At £59,000 for the second time.
0:08:14 > 0:08:17Third and final time at 59,000.
0:08:17 > 0:08:19Your lot, sir, well done.
0:08:19 > 0:08:22That successful bid came from Steve.
0:08:23 > 0:08:29Well, I reckon Steve bagged a bargain getting this great house for 59,000.
0:08:29 > 0:08:33I met him back at the property to find out more about his plans.
0:08:33 > 0:08:36- Steve, great to meet you. - And you.- Congratulations.
0:08:36 > 0:08:39- Thank you very much.- Well done. I love this house!
0:08:39 > 0:08:42- It's all right, actually. Quite pleased with it.- Good.
0:08:42 > 0:08:44Tell me why you wanted to buy it.
0:08:44 > 0:08:47- Well, it felt like quite a lot of house for the money, really.- Mmm.
0:08:47 > 0:08:51A lot of potential. It's a very good rental area round here.
0:08:51 > 0:08:53And apparently there's going to be a lot of development in Crewe
0:08:53 > 0:08:55over the next few years.
0:08:55 > 0:08:59So I'm hoping that I'll rent it for as long as I can and then,
0:08:59 > 0:09:03hopefully when it comes time to sell, then I'll get a decent return on it.
0:09:03 > 0:09:06So tell me a bit about you. Is this what you do?
0:09:06 > 0:09:08No, this is my first one.
0:09:08 > 0:09:12I have worked in sales all my career,
0:09:12 > 0:09:16- but I've been made redundant twice within two years.- Oh, no!
0:09:16 > 0:09:19And when it happened the first time, I started watching your programme
0:09:19 > 0:09:22and thought, "Oh, that's a good idea! I'll get into that."
0:09:22 > 0:09:25But then got another job fairly quickly.
0:09:25 > 0:09:28So I put it on hold, then when I was made redundant the second time,
0:09:28 > 0:09:32I thought, "Right, let's, you know, get back into it."
0:09:32 > 0:09:37# Every path has led me back to you
0:09:37 > 0:09:42# Every path has led me back to you. #
0:09:42 > 0:09:46Steve has clearly found a new path, and good luck to him.
0:09:46 > 0:09:49And he's lucky to be starting off with this lovely house,
0:09:49 > 0:09:51as it's just brimming with potential.
0:09:51 > 0:09:54But what are his plans?
0:09:54 > 0:09:57Well, obviously it needs a lot of redecoration.
0:09:57 > 0:09:59But I think there's a few tiles on the roof that have slipped,
0:09:59 > 0:10:02so I need to check there's nothing too serious with the roof.
0:10:02 > 0:10:04There's a bit of damp that needs sorting out.
0:10:04 > 0:10:05The kitchen's a mess,
0:10:05 > 0:10:08so I think that needs taking out and starting from scratch.
0:10:08 > 0:10:10I think the upstairs bathroom is very narrow,
0:10:10 > 0:10:14so I'm trying to find a way of making that a little bit wider,
0:10:14 > 0:10:18without detracting from the bedroom too much.
0:10:18 > 0:10:21Possibly do something with this window at the back.
0:10:21 > 0:10:26Maybe convert that into French windows and put some decking outside.
0:10:26 > 0:10:29Now, whether or not I do that for rental of whether or not
0:10:29 > 0:10:34I save that for when I sell on, you know, I'm looking for advice, really.
0:10:34 > 0:10:36It was a feature I particularly loved.
0:10:36 > 0:10:38But I can see why you'd want to put French doors in there.
0:10:38 > 0:10:43- It's just such an unusual shape, shape, isn't it?- Yeah, yeah. It is.
0:10:43 > 0:10:48- Right. So what's the budget? - About 10,000.
0:10:48 > 0:10:51I would hope to get everything done for less than ten,
0:10:51 > 0:10:53- with a bit of luck. - And what about timescales?
0:10:53 > 0:10:56It all depends on whether or not I get a job, really, to be honest.
0:10:56 > 0:11:00And the other thing is, I'm getting married in about ten weeks.
0:11:00 > 0:11:04So that will take up quite a bit of time in terms of preparations.
0:11:04 > 0:11:06Yes!
0:11:06 > 0:11:09- Well, congratulations on getting married, anyway.- Yes, thank you!
0:11:09 > 0:11:13- Yeah. Actually, I'm going to have two best men.- Right.
0:11:13 > 0:11:15- And one of them's called Martin Roberts!- Really?!
0:11:15 > 0:11:16Which is quite bizarre.
0:11:16 > 0:11:19Did you check I was available on that particular date?!
0:11:19 > 0:11:21Yeah! Why, have you not written your speech?!
0:11:21 > 0:11:23THEY LAUGH
0:11:23 > 0:11:25Sounds like I'd better get my best suit cleaned!
0:11:25 > 0:11:28Seriously, though, Steve is certainly in the middle
0:11:28 > 0:11:29of life-changing events.
0:11:29 > 0:11:32He's hoping to do the property up in ten weeks.
0:11:32 > 0:11:34But that's along with planning a wedding
0:11:34 > 0:11:36and possibly starting a new job!
0:11:38 > 0:11:39You talk about going back to work,
0:11:39 > 0:11:43but what happens if, you know, this turns out to be a roaring success?
0:11:43 > 0:11:46I'd like to do more of this, to be honest.
0:11:46 > 0:11:48My daughter, she's just graduated,
0:11:48 > 0:11:50she wants to get into interior design.
0:11:50 > 0:11:54So maybe we set up some sort of family business
0:11:54 > 0:11:56and make a thing of it.
0:11:56 > 0:11:59But I think I've just got to play it one step at a time
0:11:59 > 0:12:04and see what happens. Keep my options open and take it from there.
0:12:04 > 0:12:06- Well, congratulations!- Thank you.
0:12:06 > 0:12:08- With everything, including the wedding.- Thank you.- I'll be there!
0:12:08 > 0:12:10Right, excellent!
0:12:13 > 0:12:15So, lots of things for Steve to decide,
0:12:15 > 0:12:18particularly when it comes to timings.
0:12:18 > 0:12:21And I need to check my diary to make sure I can make his wedding!
0:12:21 > 0:12:24You can find out how he gets on later in the show.
0:12:28 > 0:12:31Oh, I do like a wedding! But there's no time for that!
0:12:31 > 0:12:33I've got property to see in Surrey,
0:12:33 > 0:12:36in the well-connected town of Morden.
0:12:36 > 0:12:39Not only are there great rail and road links,
0:12:39 > 0:12:42but it's also on the end of the Northern line,
0:12:42 > 0:12:46so you can be in the capital's centre in 30 minutes.
0:12:47 > 0:12:50But there's MORDEN that to this place,
0:12:50 > 0:12:54with shops aplenty and the lovely Morden Hall Park.
0:12:55 > 0:12:59And just 100 yards from there, I'm starting my search for today's
0:12:59 > 0:13:03auction lot, with an unexpected country walk.
0:13:04 > 0:13:08Today I've taken a turn off the main drag and, well,
0:13:08 > 0:13:11everything suddenly feels a lot more rural -
0:13:11 > 0:13:14or should I say overgrown?! -
0:13:14 > 0:13:17as I try and track down our property.
0:13:17 > 0:13:20Now, it's a detached two-storey house.
0:13:20 > 0:13:24It had a guide price of £145,000.
0:13:24 > 0:13:25Look! There it is.
0:13:25 > 0:13:28Now, usually, I would head inside, I'd have a look around,
0:13:28 > 0:13:31but I know all the windows and doors have been blocked up.
0:13:31 > 0:13:33So I can't get in.
0:13:36 > 0:13:38It's such a shame the house is bricked up.
0:13:38 > 0:13:42While getting into the house is impossible, getting onto the plot
0:13:42 > 0:13:47isn't exactly easy either, with a barrier and that overgrown pathway.
0:13:47 > 0:13:50The good news is, the council is planning to create access
0:13:50 > 0:13:53at the other end of the property, where joggers
0:13:53 > 0:13:55and dog walkers use the playing fields.
0:13:55 > 0:13:59There's also a tennis court, but it's not exactly in ace condition!
0:13:59 > 0:14:02And whilst the big plus in Morden is the transport links,
0:14:02 > 0:14:05having the train track run right along your boundary line
0:14:05 > 0:14:07may not be for everyone,
0:14:07 > 0:14:10although I'm assured the trains are restricted on the weekends
0:14:10 > 0:14:13and mostly run during the day throughout the week.
0:14:14 > 0:14:16So, what have I discovered so far?
0:14:16 > 0:14:18Well, the house has certainly seen better days.
0:14:18 > 0:14:22And it looks extremely derelict from the outside.
0:14:22 > 0:14:27I can only imagine what work it requires on the inside! Lots!
0:14:27 > 0:14:33Now, it does however sit on a really nice large rectangular plot of land.
0:14:33 > 0:14:34Now, it's overgrown at the moment,
0:14:34 > 0:14:38but I think this land could actually be the real selling feature here.
0:14:40 > 0:14:44Let's face it, the property's not exactly appealing right now.
0:14:44 > 0:14:48Even with its 0.18 acres of land, it would take a lot of heart
0:14:48 > 0:14:51to get some soul back into this property!
0:14:51 > 0:14:55# Awake my soul!
0:14:59 > 0:15:04# Awake my soul! #
0:15:04 > 0:15:08So what are your options? Well, I think you actually have a couple.
0:15:08 > 0:15:12You could renovate the existing house and think about extending it,
0:15:12 > 0:15:15or you could demolish and rebuild.
0:15:15 > 0:15:18Personally, I think demolition is the way to go,
0:15:18 > 0:15:23as the existing house needs so much repair work! What could you build?
0:15:23 > 0:15:26Well, I know this is a popular family spot, so I think
0:15:26 > 0:15:30a lovely new three-bedroom house would work really well here.
0:15:30 > 0:15:33But hang on a minute, I'm not just talking about one house.
0:15:33 > 0:15:36The size of this plot, it's making me think big!
0:15:36 > 0:15:41I think you could fit two, three or even four properties on this site.
0:15:41 > 0:15:45Not bad for £145,000.
0:15:45 > 0:15:49But let's not get too excited just yet.
0:15:49 > 0:15:52There are plenty of hoops to jump through before you can build
0:15:52 > 0:15:56your lovely new houses here. There's no guarantee
0:15:56 > 0:15:59that the local council will grant you planning permission.
0:15:59 > 0:16:02This process can take plenty of time and money.
0:16:02 > 0:16:07The planners will consider aspects such as parking provision,
0:16:07 > 0:16:10how well the proposed properties will fit into their surroundings,
0:16:10 > 0:16:14and also, the privacy from the neighbouring houses.
0:16:14 > 0:16:17Unfortunately, there's still a long way to go
0:16:17 > 0:16:20until this really can be used as a building plot.
0:16:32 > 0:16:35First up, I'd recommend employing an architect,
0:16:35 > 0:16:40ideally one who knows the local area and the local planners who would be
0:16:40 > 0:16:44best placed to advise you on how to maximise the potential of the site,
0:16:44 > 0:16:48and help you create something in keeping with the surroundings.
0:16:50 > 0:16:54We invited an estate agent to take a look around and tell us
0:16:54 > 0:16:57what he thinks are the positives of this place.
0:16:57 > 0:17:00It is very unusual to find a building plot.
0:17:00 > 0:17:02I've worked here for 20 years and I think this is the second one
0:17:02 > 0:17:04I've come across, so it's very unique.
0:17:04 > 0:17:07It is off the beaten track, although I think that would be a positive
0:17:07 > 0:17:10for it. But also, it's close to the Tube station.
0:17:10 > 0:17:14So it's got the ideal setting for someone to look in the Morden area.
0:17:14 > 0:17:18This lot was guided at £145,000.
0:17:18 > 0:17:20If the buyer opted to renovate what's here,
0:17:20 > 0:17:23what money could they stand to make?
0:17:23 > 0:17:28If the existing house was refurbished and sold, it would sell for £350,000.
0:17:28 > 0:17:32If the existing house was renovated and then put out for rental,
0:17:32 > 0:17:35you're looking at £1,500 per calendar month.
0:17:35 > 0:17:39But how about if the buyer opted to demolish and rebuild?
0:17:39 > 0:17:41It's hard to value what isn't there yet,
0:17:41 > 0:17:46but let's go on the basis of two two-bedroom semidetached houses.
0:17:46 > 0:17:48What would each be worth sales and rent-wise?
0:17:50 > 0:17:56The resale value on two-bedroom properties would be £300,000.
0:17:56 > 0:18:01A two-bedroom semidetached house would rent for £1,200 per calendar month.
0:18:02 > 0:18:07A little scout around this site has thrown up a whole lot of exciting options,
0:18:07 > 0:18:09but it's not without its challenges.
0:18:09 > 0:18:12I think you could really make the most of the land
0:18:12 > 0:18:14by building new houses here.
0:18:14 > 0:18:17But there is no planning permission in place yet,
0:18:17 > 0:18:19and that could be challenging.
0:18:19 > 0:18:24Let's see who felt this lot was worth fighting for when we went to the auction.
0:18:27 > 0:18:30Who'd like to kick off and how much?
0:18:30 > 0:18:34OK, 150. 150. 155.
0:18:34 > 0:18:38160. 165. 170.
0:18:38 > 0:18:40Yeah? 175 at the back.
0:18:40 > 0:18:43180. 185.
0:18:43 > 0:18:48Bidding was as quick to escalate as it had been to get started.
0:18:48 > 0:18:53We rejoined as it reached 270,000.
0:18:53 > 0:18:57270. Yeah? 271.
0:18:57 > 0:19:01272. 273. 274.
0:19:01 > 0:19:05275. 276.
0:19:05 > 0:19:08277. 278.
0:19:10 > 0:19:16279. 280. 281. 282.
0:19:16 > 0:19:21282. Have a think. I've got 281.
0:19:21 > 0:19:24If you haven't seen it, you should have done, cos I like it.
0:19:24 > 0:19:28281, first time. Second time.
0:19:28 > 0:19:31Third and last time. Have you all done?
0:19:31 > 0:19:33Sold, 281! Well bought.
0:19:33 > 0:19:40Yes, 281,000, you heard right. For nearly twice that guide price,
0:19:40 > 0:19:43this dilapidated house was bought by Jagen.
0:19:43 > 0:19:47He was at the auction with friend and fellow property developer, Andrew.
0:19:47 > 0:19:49They offer each other support on projects
0:19:49 > 0:19:52and they both came along to tell us what they planned.
0:19:52 > 0:19:55Guys, congratulations. What was it about the site that you liked so much?
0:19:55 > 0:19:58It was because it's quite a big site,
0:19:58 > 0:20:00where we have had preliminary drawings done on it.
0:20:00 > 0:20:05And I can see that they can have four dwellings that can go on it.
0:20:05 > 0:20:07And that was a goer for me, more than anything else.
0:20:07 > 0:20:10Wow, so this one house is going to become four,
0:20:10 > 0:20:13in the shape of two sets of semis.
0:20:13 > 0:20:15So it may be two heads are better than one.
0:20:15 > 0:20:17So why have you decided to put both of your heads together
0:20:17 > 0:20:19on a project like this?
0:20:19 > 0:20:21We actually came together five years ago
0:20:21 > 0:20:25with a mutual interest in a property in Stoke.
0:20:25 > 0:20:30And while certain aspects of our personalities
0:20:30 > 0:20:35have prevented us formulising a formal partnership,
0:20:35 > 0:20:37we work as a partner...
0:20:39 > 0:20:42I do a project and Jagen will help and support me,
0:20:42 > 0:20:47while his last project is sort of bedding in and proving its worth.
0:20:47 > 0:20:50But he gets something and just as mine is finished
0:20:50 > 0:20:52and I'm looking at just letting mine settle down,
0:20:52 > 0:20:55- I sort of have a little bit of input into his.- OK.
0:20:55 > 0:20:59- So you do work brilliantly as a team?- Yes.
0:20:59 > 0:21:02This pair have an unusual set-up,
0:21:02 > 0:21:05but one I can completely understand works well.
0:21:05 > 0:21:07And it will be great for Jagen
0:21:07 > 0:21:10to have support for this project as he's got big plans.
0:21:10 > 0:21:12He wants to demolish the existing building
0:21:12 > 0:21:16and replace it with two pairs of semidetached houses.
0:21:18 > 0:21:21If you could talk me through how it's going to work inside.
0:21:21 > 0:21:23Yes. As you see there very clearly,
0:21:23 > 0:21:26I've got a kitchen in the front of it, as you're heading in.
0:21:26 > 0:21:29- And that's going to be to the front, here?- To the front of it.
0:21:29 > 0:21:32OK, and then you go up the first flight of stairs and you've got...?
0:21:32 > 0:21:33I've got two bedrooms on there.
0:21:33 > 0:21:37Two lovely bedrooms with a family bathroom, there.
0:21:37 > 0:21:39And then right upstairs, in the top,
0:21:39 > 0:21:42you've got a little study, bedroom three and an en suite.
0:21:42 > 0:21:44Well, what I love is the way they look.
0:21:44 > 0:21:46I mean, look, that looks amazing.
0:21:46 > 0:21:48That looks beautiful.
0:21:48 > 0:21:51- So there's one parking space for each property?- No.
0:21:51 > 0:21:54As you see here, you've got two car parking spaces for each property
0:21:54 > 0:21:59and then there's a lawn to break the parking spaces.
0:21:59 > 0:22:03And then we've got cycle storage for the back, as well.
0:22:03 > 0:22:05So if people want to use their bikes,
0:22:05 > 0:22:07they can still be putting them at the back.
0:22:07 > 0:22:10Jagen has thought everything through thoroughly
0:22:10 > 0:22:13and he wants to make the properties energy efficient as well.
0:22:13 > 0:22:17His budget is £100,000 to £125,000 per property.
0:22:17 > 0:22:20And he's hoping to do the work in six months.
0:22:20 > 0:22:22But he'll have a few hoops to jump through
0:22:22 > 0:22:23before he can get cracking.
0:22:26 > 0:22:28So what have the council said? Have you spoken to them?
0:22:28 > 0:22:30- No.- No, we haven't. No.
0:22:30 > 0:22:33That sums it up - no!
0:22:33 > 0:22:34You're very relaxed about this.
0:22:34 > 0:22:37So you haven't even had a chat with the local council
0:22:37 > 0:22:39about the site and whether or not it would be a goer?
0:22:39 > 0:22:41No, we haven't.
0:22:41 > 0:22:44But we've sort of formed an opinion with the housing market
0:22:44 > 0:22:48and apparent housing shortage in this area
0:22:48 > 0:22:51that there would not be too many problems
0:22:51 > 0:22:54and we have everything crossed there won't.
0:22:54 > 0:22:57A relaxed attitude is all well and good
0:22:57 > 0:22:59but I would always recommend speaking to the planners
0:22:59 > 0:23:02before drawing up plans as meeting with them early means
0:23:02 > 0:23:05that you can get an idea of what will be allowed
0:23:05 > 0:23:09and it should save you time and money along the way.
0:23:09 > 0:23:10One thing's for sure,
0:23:10 > 0:23:13I can't wait to see what becomes of this.
0:23:15 > 0:23:19Well, Andrew and Jagen obviously saw the potential of this site,
0:23:19 > 0:23:23judging by their very big spend in the auction room.
0:23:23 > 0:23:25Will planning permission be a smooth ride
0:23:25 > 0:23:28so they can stick to that six-month timescale?
0:23:28 > 0:23:30You can join me later on in the programme
0:23:30 > 0:23:32and find out how it goes for them.
0:23:35 > 0:23:36Coming up, in County Durham
0:23:36 > 0:23:41we discover the best way to advertise your buy-to-let property.
0:23:41 > 0:23:43Does your board say anything special or just...?
0:23:43 > 0:23:45BOTH: Rent me!
0:23:45 > 0:23:47And back in Morden, Surrey,
0:23:47 > 0:23:51we catch up with Andrew and Jagen's trials and tribulations.
0:23:51 > 0:23:53It was more challenging than expected
0:23:53 > 0:23:55and the outcome was very different.
0:23:59 > 0:24:02But first, we return to the Cheshire town of Crewe
0:24:02 > 0:24:05where we saw a three-bed Victorian terraced house
0:24:05 > 0:24:07with some great original features.
0:24:07 > 0:24:10But it was really showing its age
0:24:10 > 0:24:14and needed someone to take a chance on uncovering its hidden potential.
0:24:15 > 0:24:18Enter Steve, who bought it for £59,000
0:24:18 > 0:24:22and was looking for a bit of a second chance himself.
0:24:25 > 0:24:27So tell me a bit about you. Is this what you do?
0:24:27 > 0:24:30No, this is my first one.
0:24:30 > 0:24:33I have worked in sales for, like, all my career
0:24:33 > 0:24:37- but I've been made redundant twice within two years.- Oh, no.
0:24:37 > 0:24:40And when it happened the first time I started watching your programme
0:24:40 > 0:24:43and thought, "Oh, that's a good idea. I'll get into that,"
0:24:43 > 0:24:45but then got another job fairly quickly.
0:24:45 > 0:24:46So I put it on hold.
0:24:46 > 0:24:49Then when I was made redundant the second time I thought,
0:24:49 > 0:24:51"Right, let's get back into it."
0:24:51 > 0:24:53- And what about timescales? - It all depends
0:24:53 > 0:24:56on whether or not I get a job, really, to be honest.
0:24:56 > 0:24:59And the other thing is, I'm getting married in about ten weeks so...
0:24:59 > 0:25:04That will take up quite a bit of time in terms of preparation.
0:25:04 > 0:25:07So Steve was suddenly going to be a very busy man.
0:25:07 > 0:25:09And armed with a £10,000 budget,
0:25:09 > 0:25:13he had a slightly optimistic ten-week timescale,
0:25:13 > 0:25:15hoping he could sort it out
0:25:15 > 0:25:18before the ringing of those wedding bells.
0:25:18 > 0:25:20And now, eight months later,
0:25:20 > 0:25:24we're back with Steve to find out how all the changes have gone.
0:25:27 > 0:25:32The exterior is looking crisper, with new windows and paintwork.
0:25:32 > 0:25:34So what's been happening inside?
0:25:42 > 0:25:44Ah, that's more like it!
0:25:44 > 0:25:47An open fireplace, wood panelling.
0:25:47 > 0:25:49Suddenly the place is showing its age,
0:25:49 > 0:25:51but in a good way.
0:26:00 > 0:26:03And the dreary kitchen and utility area?
0:26:03 > 0:26:06# Everything has changed. #
0:26:08 > 0:26:11It certainly has, and it's all the better for it.
0:26:18 > 0:26:21First thing was to sort out the damp,
0:26:21 > 0:26:22cos there was quite a bit of damp,
0:26:22 > 0:26:24more than we actually appreciated.
0:26:24 > 0:26:26It turned out that most of it
0:26:26 > 0:26:29was actually coming up through the tiled floor.
0:26:29 > 0:26:32So as well as injecting the walls with cream
0:26:32 > 0:26:33to stop the damp coming up,
0:26:33 > 0:26:38we had to excavate this whole area and then relay this floor.
0:26:38 > 0:26:41And damp wasn't the only major issue either.
0:26:41 > 0:26:44Steve had to replace all the lead pipe work
0:26:44 > 0:26:46and put in a new water main.
0:26:47 > 0:26:50He also had to take down an unsupported chimney.
0:26:51 > 0:26:55And upstairs, not only has he fully refurbished the three bedrooms,
0:26:55 > 0:26:58he's slightly rejigged the layout.
0:27:05 > 0:27:07The original bathroom was very narrow,
0:27:07 > 0:27:09so it had the bath running down the side
0:27:09 > 0:27:11and it felt very claustrophobic.
0:27:11 > 0:27:13So what we decided to do was...
0:27:13 > 0:27:16The wall between the bathroom and the bedroom
0:27:16 > 0:27:17was in a bad state anyway.
0:27:17 > 0:27:20So we took that down, just a partition wall,
0:27:20 > 0:27:22moved that into the bedroom slightly
0:27:22 > 0:27:24and moved the other wall of the bathroom
0:27:24 > 0:27:26to make a better-proportioned room,
0:27:26 > 0:27:29so that we could get a bath under the window
0:27:29 > 0:27:30and a shower into that.
0:27:30 > 0:27:34And quite pleased with how it's turned out, really.
0:27:34 > 0:27:36And in addition to the main bathroom,
0:27:36 > 0:27:38he's removed a cupboard on the landing
0:27:38 > 0:27:40and has built a new shower room.
0:27:41 > 0:27:44And though outside at the back needs some work,
0:27:44 > 0:27:47he's nearly made all the major changes inside,
0:27:47 > 0:27:48so he's certainly been busy.
0:27:53 > 0:27:55Wait a minute...
0:27:55 > 0:27:58Wasn't he supposed to be getting married as well?
0:27:58 > 0:28:00I did get married in between all of this, yes!
0:28:03 > 0:28:05I think one of the reasons for the time it took
0:28:05 > 0:28:08is that the preparations for the wedding
0:28:08 > 0:28:10took a lot longer than anticipated.
0:28:10 > 0:28:12And whilst I was enjoying doing this,
0:28:12 > 0:28:14I don't think my wife would have appreciated
0:28:14 > 0:28:17me leaving her to do everything else.
0:28:17 > 0:28:18So, yes, that took some time.
0:28:18 > 0:28:21I thoroughly enjoyed it.
0:28:21 > 0:28:23Went away and had a fantastic honeymoon
0:28:23 > 0:28:25and then came back to reality
0:28:25 > 0:28:28and carried on stripping wood chip off the walls.
0:28:36 > 0:28:39Sounds like the honeymoon period didn't last long!
0:28:39 > 0:28:42But Steve wasn't alone doing the work.
0:28:42 > 0:28:44After slow progress over the first few months,
0:28:44 > 0:28:46he hired a builder
0:28:46 > 0:28:49and together they got the bulk of the work done in four months,
0:28:49 > 0:28:52bringing in professional tradesmen where necessary.
0:28:52 > 0:28:55But I suspect, with all the extra work here,
0:28:55 > 0:28:58Steve's proposed £10,000 budget also suffered.
0:28:59 > 0:29:04I think we're going to be about 15,000 in total.
0:29:04 > 0:29:06So the extra bits have been
0:29:06 > 0:29:08the windows that we weren't anticipating,
0:29:08 > 0:29:11the work on the chimney at the back
0:29:11 > 0:29:13and the mains water pipe.
0:29:14 > 0:29:18£15,000 on top of his £59,000 purchase price
0:29:18 > 0:29:22takes Steve's total spend to £74,000
0:29:22 > 0:29:24without taxes or fees.
0:29:24 > 0:29:27So has his first property venture been worth the wait?
0:29:27 > 0:29:29What do two local estate agents think?
0:29:34 > 0:29:37They've made a really nice job. It's really refreshed.
0:29:37 > 0:29:39They've done quite a few changes to the property.
0:29:39 > 0:29:43I like the idea that they've taken out the wall here in the kitchen.
0:29:43 > 0:29:46We have a nice breakfast kitchen, dining kitchen.
0:29:46 > 0:29:48And in addition they've made the shower room upstairs
0:29:48 > 0:29:50with an additional WC,
0:29:50 > 0:29:52which I think will appeal to most buyers.
0:29:52 > 0:29:55The seller's done a superb job modernising this property.
0:29:55 > 0:29:58With the new kitchen and bathroom, it really stands out on the road.
0:29:58 > 0:30:00I'd expect this property to sell really well
0:30:00 > 0:30:03and certainly it's a very impressive finished product.
0:30:03 > 0:30:06At present, Steve plans to let the property.
0:30:06 > 0:30:10But how would a house he's invested £74,000 in
0:30:10 > 0:30:13fare on the current resale market?
0:30:13 > 0:30:15If this property went onto the market,
0:30:15 > 0:30:17we would market it at £90,000.
0:30:17 > 0:30:19In my opinion, we'd be looking to achieve a figure
0:30:19 > 0:30:21in the region of £100,000.
0:30:21 > 0:30:23I was thinking 85, 90
0:30:23 > 0:30:28so if it could get as much as 100 then that's good.
0:30:28 > 0:30:30Encouraging signs on resale,
0:30:30 > 0:30:34with a potential £16,000 to £26,000 pre-tax profit.
0:30:34 > 0:30:37But what about those all-important rental returns?
0:30:38 > 0:30:41I think if this property went on to the rental market,
0:30:41 > 0:30:42we'd be looking to achieve around about
0:30:42 > 0:30:44£575 per calendar month.
0:30:44 > 0:30:47In my opinion, this property will rent for a figure of
0:30:47 > 0:30:48£550 per calendar month.
0:30:48 > 0:30:51Yeah, I think that's, you know...
0:30:51 > 0:30:53There's obviously a lot of houses rented around this area
0:30:53 > 0:30:57and that seems to be the going rate for a three-bedroomed house.
0:30:57 > 0:31:00Even the lower £550 per calendar month
0:31:00 > 0:31:03would generate a yield just below 9%.
0:31:03 > 0:31:06But is that enough for Steve to give it a go as a career?
0:31:09 > 0:31:11Well, it depends on the job situation.
0:31:11 > 0:31:14But because this has been so great,
0:31:14 > 0:31:19I'm seriously considering doing this long term.
0:31:20 > 0:31:24And in fact, he's already bought his next property
0:31:24 > 0:31:27so it seems that his career path is now clearer.
0:31:28 > 0:31:31So fantastic house but I know what you're thinking.
0:31:31 > 0:31:33"Martin, what about this?"
0:31:33 > 0:31:36- I'm going to have two best men. - Right.
0:31:36 > 0:31:38And one of them's called Martin Roberts,
0:31:38 > 0:31:39- which is bizarre!- Really?
0:31:39 > 0:31:41Did you check I was available on that date?!
0:31:41 > 0:31:45Yeah, well, have you not written your speech?!
0:31:45 > 0:31:47So did the right Martin Roberts turn up?
0:31:47 > 0:31:49Well, it depends on your point of view.
0:31:49 > 0:31:51But he certainly had a better shirt on
0:31:51 > 0:31:55than your Martin Roberts did that day. So, yes!
0:31:55 > 0:31:57Hey! What's wrong with my shirt?
0:32:05 > 0:32:07I'm in the north-east of England now,
0:32:07 > 0:32:10in the former mining town of Stanley.
0:32:12 > 0:32:15Well, there's no escaping the town's industrial past.
0:32:15 > 0:32:17And why would you want to?
0:32:17 > 0:32:20The property I'm here to see - probably built for local workers.
0:32:20 > 0:32:24A two-bedroom terrace. It had a guide price of 30,000 quid.
0:32:24 > 0:32:26Let's take a look.
0:32:26 > 0:32:29So what have we got? Fairly standard layout, I think.
0:32:29 > 0:32:31Stairs up to the bedrooms, there,
0:32:31 > 0:32:34and then into a really nice-sized living room.
0:32:34 > 0:32:37I love the fact that they've taken out under the stairs, here.
0:32:37 > 0:32:39It really opens it up.
0:32:39 > 0:32:42Admittedly there isn't any furniture in here at the moment
0:32:42 > 0:32:44so a three-piece suite is going to shrink it a bit.
0:32:44 > 0:32:47But it's good, I really like it. You know, you've got a gas fire.
0:32:47 > 0:32:50You'd need to have that checked out, maybe even open it up.
0:32:50 > 0:32:52So all in all, good start.
0:32:52 > 0:32:53Kitchen could be better.
0:32:53 > 0:32:56I think there's enough space in here to have a kitchen at that end,
0:32:56 > 0:32:58sort of breakfast area here,
0:32:58 > 0:33:03creating that much desired, sort of, kitchen/living area.
0:33:03 > 0:33:06And so I will stick with, yeah, pretty good.
0:33:09 > 0:33:11There really isn't much to this house.
0:33:11 > 0:33:14It's basically two rooms downstairs.
0:33:14 > 0:33:17There will be lots of work to get it up to standard
0:33:17 > 0:33:20but its size makes it comfortably manageable.
0:33:20 > 0:33:22And that £30,000 guide price
0:33:22 > 0:33:25definitely makes it potentially an interesting investment.
0:33:27 > 0:33:30Well, it really is a bit of a hodgepodge out the back, here.
0:33:30 > 0:33:34You've got this little lean-to area off the kitchen, a little yard,
0:33:34 > 0:33:36a garage, which is great news,
0:33:36 > 0:33:39cos there aren't that many of the other houses in this street
0:33:39 > 0:33:41which have got garages. So that's brill.
0:33:41 > 0:33:43And then that, whatever that is.
0:33:43 > 0:33:47So it makes this rear area, I suppose, reasonably practical
0:33:47 > 0:33:50but just a little bit claustrophobic.
0:33:50 > 0:33:52So maybe knock some of these things down a bit.
0:33:59 > 0:34:01Hmm, yes, you definitely have
0:34:01 > 0:34:04at least one too many lean-tos and outbuildings, here.
0:34:04 > 0:34:06Storage is useful to have
0:34:06 > 0:34:09but so is a little more outside room.
0:34:09 > 0:34:11So some of these will need to go.
0:34:11 > 0:34:14But the garage, well, that's a big plus.
0:34:14 > 0:34:16As is the field area at the back,
0:34:16 > 0:34:19which offers some much-needed outside space.
0:34:20 > 0:34:24Talking of space, what's the upstairs area like?
0:34:24 > 0:34:26So upstairs, no great surprises.
0:34:26 > 0:34:28Apart from one good one which is the fact that the loo,
0:34:28 > 0:34:30the bathroom and toilet, are up here,
0:34:30 > 0:34:32which is fantastic,
0:34:32 > 0:34:35in a kind of strange extension thing at the back.
0:34:35 > 0:34:36Double-storey, though,
0:34:36 > 0:34:39and that is really good to see, not what you would have expected.
0:34:39 > 0:34:40Two bedrooms, though.
0:34:40 > 0:34:43The one at the front, here, bigger than the one at the back.
0:34:43 > 0:34:46And again, in sort of middling condition.
0:34:48 > 0:34:51All in all, then, yes, I think the property gets a tick.
0:34:51 > 0:34:53Yeah, I think there are lots of positives
0:34:53 > 0:34:56in terms of layout, room size, cost
0:34:56 > 0:34:59and not too many negatives.
0:34:59 > 0:35:02And it strikes me as a place that, once done up,
0:35:02 > 0:35:04could rent out all day long.
0:35:05 > 0:35:07But what does a local estate agent
0:35:07 > 0:35:11think of this two-bed mid-terraced house?
0:35:11 > 0:35:13This house is typical of many in the area.
0:35:13 > 0:35:17A traditional terraced house situated fairly close to a busy road.
0:35:17 > 0:35:19It's the bypass through Stanley town centre.
0:35:19 > 0:35:22Obviously there may be some negatives to that for the resale perspective,
0:35:22 > 0:35:23for the road noise,
0:35:23 > 0:35:26however I think, particularly from the rental side of things,
0:35:26 > 0:35:27it's an advantage -
0:35:27 > 0:35:30linking the property and the town centre to outlying areas,
0:35:30 > 0:35:32to Consett on one side, to Chester-le-Street
0:35:32 > 0:35:34and further to Newcastle and Durham,
0:35:34 > 0:35:35obviously, which is great for commuting.
0:35:35 > 0:35:38The main things that need to be addressed in the property
0:35:38 > 0:35:40are the overall decorative condition,
0:35:40 > 0:35:42the heating system needs to be replaced,
0:35:42 > 0:35:44the electrics need to be looked at.
0:35:44 > 0:35:47Obviously just the general condition of the house throughout,
0:35:47 > 0:35:49it needs a complete renovation.
0:35:49 > 0:35:53Yes, but how would this house, which was guided at £30,000,
0:35:53 > 0:35:55fare as an investment?
0:35:55 > 0:35:58Once improved and if put back on the market for resale,
0:35:58 > 0:36:00I think the owners should look to achieve a sale
0:36:00 > 0:36:03somewhere in the region of £60,000 for the house.
0:36:03 > 0:36:05In my opinion, I think the best option for this property,
0:36:05 > 0:36:07once refurbished, would be to let the house.
0:36:07 > 0:36:09I think you should be looking to achieve
0:36:09 > 0:36:12somewhere in the region of £400 per calendar month.
0:36:12 > 0:36:14Assuming you got the house for the guide price
0:36:14 > 0:36:17and spent a generous £10,000 refurbishing it,
0:36:17 > 0:36:20that should give you a yield of 12%.
0:36:23 > 0:36:24Well, it needs a bit of sorting out
0:36:24 > 0:36:26but nothing too demanding.
0:36:26 > 0:36:29And for a £30,000 guide price,
0:36:29 > 0:36:31potentially good rental yield
0:36:31 > 0:36:33and a solid little property.
0:36:33 > 0:36:35Let's see who agreed when it went under the hammer.
0:36:37 > 0:36:41Lot number 30, terraced property - does require full refurbishment.
0:36:41 > 0:36:44Situated close to town...Stanley town centre.
0:36:44 > 0:36:4626,000 anywhere?
0:36:46 > 0:36:4826, gentleman standing, in the glasses.
0:36:48 > 0:36:5026, 27?
0:36:50 > 0:36:5227 bid. 28?
0:36:52 > 0:36:5428 bid. 29?
0:36:54 > 0:36:5629 bid. 30?
0:36:56 > 0:36:5830,000 bid. 31?
0:36:58 > 0:37:0032.
0:37:00 > 0:37:0133.
0:37:01 > 0:37:0334?
0:37:03 > 0:37:0535.
0:37:05 > 0:37:07Not yet. 35?
0:37:08 > 0:37:1034,500. 35?
0:37:12 > 0:37:14I'm on the third row at £34,500.
0:37:14 > 0:37:16I'll take 500 elsewhere?
0:37:16 > 0:37:19I'm selling it once at 34,500.
0:37:19 > 0:37:23I'm selling for the second time at £34,500.
0:37:24 > 0:37:28Sold, gentleman in the third row, at 34,500.
0:37:30 > 0:37:35So for 34,500, the two-bed mid-terraced house in Stanley
0:37:35 > 0:37:39was bought by husband and wife team Zarine and Gary.
0:37:39 > 0:37:41They live locally
0:37:41 > 0:37:45and it turns out they know the streets of Stanley very well indeed.
0:37:51 > 0:37:54- Zarine, Gary, good to meet you both. - Hello, there.- Hi, there.
0:37:54 > 0:37:57Congratulations! Tell me why you wanted to buy this place.
0:37:57 > 0:38:00- We already owned another two in the street.- Oh, right!
0:38:00 > 0:38:03You obviously know the houses, then.
0:38:03 > 0:38:05How have the other ones gone for you?
0:38:05 > 0:38:07- Absolutely wonderful.- Yeah.
0:38:07 > 0:38:09We've recently done one up further up the street,
0:38:09 > 0:38:12within the last six months, and it rented out straightaway.
0:38:12 > 0:38:13Right, tell me about you two.
0:38:13 > 0:38:15Is this something you do a lot of?
0:38:15 > 0:38:18Yeah, well, we own 14 properties
0:38:18 > 0:38:21and we've got some land that we were going to build on
0:38:21 > 0:38:23but we're not so sure at the minute.
0:38:23 > 0:38:26- We've got it up for sale! - Oh, right, what's put you off?
0:38:26 > 0:38:29- I think it's just cos it's on a hill!- Oh, right!
0:38:29 > 0:38:31So it's a bit difficult.
0:38:31 > 0:38:34So I think it's easier just to buy them like this,
0:38:34 > 0:38:37gut then, do them up, get a tenant straight in.
0:38:37 > 0:38:39Right. Is this what you do full time, then?
0:38:39 > 0:38:40No, I'm a firefighter.
0:38:40 > 0:38:43- I work for Durham and Darlington Fire and Rescue.- Oh, brilliant!
0:38:43 > 0:38:46- You're a fireman. A firefighter!- Firefighter, yes.
0:38:46 > 0:38:48The politically correct way to call it. Brilliant.
0:38:48 > 0:38:52- How long have you been doing that for?- 23 year.- 23 years.
0:38:52 > 0:38:55Do you still have a pole that you slide down or not?
0:38:55 > 0:38:58- Yes!- You do! Oh, that's such good news!
0:38:58 > 0:38:59- I thought they got rid of the poles.- No.
0:38:59 > 0:39:02- Well, they've still got it at our station.- Have you?!
0:39:02 > 0:39:04- And do you actually slide down it?- No!
0:39:04 > 0:39:05Is it an optional extra?
0:39:05 > 0:39:08- You can slide down it if you want? - You can if you want, yeah.
0:39:08 > 0:39:10Well, that's good news.
0:39:10 > 0:39:13Still a chance I might be able to have a go one day, then.
0:39:16 > 0:39:18This two-bed house does need rescuing
0:39:18 > 0:39:22but it sounds as if this property will be in experienced hands.
0:39:22 > 0:39:25So tell me what you're going to do with it, then, to sort it out.
0:39:25 > 0:39:26Gut it, basically.
0:39:26 > 0:39:29New kitchen, new bathroom, rewire, new central-heating system,
0:39:29 > 0:39:34- replaster it.- Damp proof course. - Damp proof course...
0:39:34 > 0:39:36New garage door, brick the windows up in the garage,
0:39:36 > 0:39:40new roof on the extension out the back.
0:39:40 > 0:39:41- Everything!- Basically everything.
0:39:41 > 0:39:44They're not kidding. Everything.
0:39:44 > 0:39:47And they have a budget of £10,000 to £12,000 for the work,
0:39:47 > 0:39:48which seems good to me.
0:39:48 > 0:39:51And because they have another project going on at the moment,
0:39:51 > 0:39:53they're allowing three to four months.
0:39:53 > 0:39:56What about finding good tenants? How do you go about doing that?
0:39:56 > 0:39:58That's when I come into it.
0:39:58 > 0:40:02I meet them all personally, ask a lot about their background,
0:40:02 > 0:40:05visit their own property that they live in at the moment
0:40:05 > 0:40:06- to see how they're keeping it. - Oh, do you?
0:40:06 > 0:40:10And I think nowadays it's a really good idea to have a guarantor!
0:40:10 > 0:40:12Right, what do you mean by that?
0:40:12 > 0:40:14Just if they're not going to pay the rent
0:40:14 > 0:40:16then the guarantor has to.
0:40:16 > 0:40:18So who would the guarantor be?
0:40:18 > 0:40:20Normally the parents of whoever's moving in.
0:40:20 > 0:40:22But they have to own their own home.
0:40:22 > 0:40:25That way then if they don't pay it, you go to court
0:40:25 > 0:40:28and obviously the house has this put against it
0:40:28 > 0:40:31- and the money gets paid through the house.- Right.
0:40:31 > 0:40:34But it's a way of you safeguarding that you do get...
0:40:34 > 0:40:36- The rent.- That I do get the rent, yeah.
0:40:36 > 0:40:38And that they'll look after the property.
0:40:38 > 0:40:41Being a landlord doesn't stop at doing up a property.
0:40:41 > 0:40:44Not only do you have to ensure your tenants are treated fairly,
0:40:44 > 0:40:47you have to put safeguards in place to protect your income
0:40:47 > 0:40:49and your property.
0:40:49 > 0:40:51And if good tenants and good landlords come together
0:40:51 > 0:40:53then everyone's a winner.
0:40:54 > 0:40:59And how do you go about advertising the property for rent?
0:40:59 > 0:41:01We've got our own board that we stick outside the house.
0:41:01 > 0:41:04- We'll put one out front and back. - Is that it?- Yeah.
0:41:04 > 0:41:06- And that's enough in general? - Yeah.- Oh, definitely.
0:41:06 > 0:41:09We'll probably have 10, 15 people interested in renting it,
0:41:09 > 0:41:11just from putting a board outside.
0:41:11 > 0:41:13Does your board say anything special or just...
0:41:13 > 0:41:15BOTH: Rent me!
0:41:15 > 0:41:17- Rent me!- Exactly.
0:41:17 > 0:41:19Obviously you're big fans of this street.
0:41:19 > 0:41:20Are you going to buy any more in it?
0:41:20 > 0:41:25- Next door is empty at the moment so...- Oh!
0:41:25 > 0:41:26There's a possibility!
0:41:26 > 0:41:31And then onwards and upwards and get the street bought out!
0:41:31 > 0:41:32A game of Monopoly!
0:41:32 > 0:41:35When do you stop? I mean, you've got 14 properties at the moment.
0:41:35 > 0:41:38Have you got aspirations for 20, 30, 100 or what?
0:41:38 > 0:41:42No, we said we were stopping about 12.
0:41:42 > 0:41:44OK, so you've blown that one, then!
0:41:44 > 0:41:47- I get bored very easily so... - You get bored?
0:41:47 > 0:41:49So just something for me to do over the winter.
0:41:49 > 0:41:51Yeah, well, good news.
0:41:51 > 0:41:53Well, congratulations and good luck with it.
0:41:53 > 0:41:56And I look forward to seeing how you get on.
0:41:56 > 0:41:57- Thank you very much.- Thank you.
0:41:59 > 0:42:03So Zarine and Gary buying up more and more houses on this street.
0:42:03 > 0:42:06It's turning into a property board game, isn't it?!
0:42:06 > 0:42:08But it actually does make a lot of sense
0:42:08 > 0:42:11to stick within one very close proximity
0:42:11 > 0:42:14when it comes to renting out and managing those properties.
0:42:14 > 0:42:16So a good decision, I'm sure.
0:42:16 > 0:42:19Will there be a hotel on the street when we come back?!
0:42:19 > 0:42:22You can find out later in the show.
0:42:25 > 0:42:27It's been a while now since we last saw those properties.
0:42:27 > 0:42:30Have the owners been racing through the work?
0:42:30 > 0:42:33Or have they ground to a complete halt?
0:42:33 > 0:42:34Let's go back and find out.
0:42:36 > 0:42:38Morden in Surrey is at the end of
0:42:38 > 0:42:40the southern tip of the Northern line.
0:42:40 > 0:42:43And it was here that we first saw a house which,
0:42:43 > 0:42:45even with a railway line next to it,
0:42:45 > 0:42:47was not only off the beaten track
0:42:47 > 0:42:50but also looked like it had hit the buffers.
0:42:50 > 0:42:53Blocked up windows and doors prevented access
0:42:53 > 0:42:57and I could only guess that inside wasn't much better.
0:42:59 > 0:43:01But this really didn't matter.
0:43:01 > 0:43:03What mattered was that it was there
0:43:03 > 0:43:06and therefore it could be considered potentially a building plot -
0:43:06 > 0:43:09a rarity in this part of Surrey.
0:43:09 > 0:43:12Not only that, it wasn't a bad size
0:43:12 > 0:43:16and had an attractive guide price of 145,000.
0:43:16 > 0:43:18So perhaps not surprisingly,
0:43:18 > 0:43:22it was a hotly contested lot at the auction.
0:43:23 > 0:43:25Second time,
0:43:25 > 0:43:29third and last time. If you're all done... Sold. 281.
0:43:29 > 0:43:31Well bought.
0:43:31 > 0:43:36Paying £136,000 over the guide price was property developer Jagen, who,
0:43:36 > 0:43:40along with fellow property developer and adviser Andrew,
0:43:40 > 0:43:43had great plans for the derelict house and plot.
0:43:44 > 0:43:46We have had preliminary drawings done on it
0:43:46 > 0:43:50and I can see that they can have four dwellings that can go on it.
0:43:50 > 0:43:53Well, what I love is the way they look. I mean, look.
0:43:53 > 0:43:56That looks amazing. That looks beautiful.
0:43:56 > 0:43:59- So what have the council said? Have you spoken to them?- No.
0:43:59 > 0:44:03No, we haven't. No. That sums it up! No.
0:44:03 > 0:44:08Hmm, so Jagen and Andrew were really excited by this development.
0:44:08 > 0:44:10But would the planners be so keen?
0:44:12 > 0:44:15Now, 11 months later, we're back.
0:44:16 > 0:44:20Hold on, that doesn't look like four houses!
0:44:20 > 0:44:22We went in for planning for four houses,
0:44:22 > 0:44:26which was two sets of semis, which are perfect for the area.
0:44:26 > 0:44:29We had a lot of objections from the neighbours,
0:44:29 > 0:44:32saying that it is an overdevelopment.
0:44:40 > 0:44:43End of the day, they said four is too much
0:44:43 > 0:44:45and the planners said, "Come back to us with two."
0:44:45 > 0:44:49So, taking their reservations, we went in with two
0:44:49 > 0:44:51and they said no to that as well.
0:44:56 > 0:45:00So leaving us no choice except to renovate the existing house.
0:45:03 > 0:45:06Finally, after eight months of planning wrangles,
0:45:06 > 0:45:08they got permission to build
0:45:08 > 0:45:11a four-bedroom detached house with a double garage.
0:45:20 > 0:45:23And three months into the build, it's well underway.
0:45:23 > 0:45:25It might not be what they'd wanted
0:45:25 > 0:45:27but it's a bigger and better property
0:45:27 > 0:45:30and they hope to push the boat out with the finish.
0:45:39 > 0:45:41Well, this is going to be the kitchen area.
0:45:41 > 0:45:45It's going to be made out of high-gloss cream units
0:45:45 > 0:45:48with the sink unit looking over the window.
0:45:48 > 0:45:51And mainly all storage units inside
0:45:51 > 0:45:54and then a utility room through the back,
0:45:54 > 0:45:56through that doorway, there.
0:45:56 > 0:45:58Upstairs, there's a large family bathroom
0:45:58 > 0:46:00and the four bedrooms...
0:46:04 > 0:46:07..two of which are en suite.
0:46:08 > 0:46:12Well, this room I'm hoping is going to be the master bedroom.
0:46:14 > 0:46:16Obviously there is another one,
0:46:16 > 0:46:19where my colleague thinks that is better laid for the master.
0:46:19 > 0:46:21I think this one's got a really nice feel to it.
0:46:21 > 0:46:24It's a good size, and full en suite.
0:46:24 > 0:46:26So I think this lends itself perfectly.
0:46:26 > 0:46:29And with the views over a bit of greenery as well.
0:46:29 > 0:46:30It's quite a nice room.
0:46:35 > 0:46:37This is basically a new build
0:46:37 > 0:46:40with only the footprint of the old property being maintained,
0:46:40 > 0:46:43and Jagen and his team of builders have worked tirelessly
0:46:43 > 0:46:45to try and pull back some lost time.
0:46:45 > 0:46:48They're hoping that they're only four weeks away
0:46:48 > 0:46:49from completing the project.
0:46:49 > 0:46:52So how do they feel about where they're at?
0:46:53 > 0:46:54Are we unhappy?
0:46:54 > 0:46:56Not with what we've got at the end of it, no.
0:46:56 > 0:46:59You go back to the drawing board and just start again
0:46:59 > 0:47:01and, you know, hopefully...
0:47:01 > 0:47:03Well, there's no hopefully. Yeah, it will...
0:47:03 > 0:47:07It will get us where we want to be.
0:47:07 > 0:47:10It was just not where we wanted to be originally.
0:47:10 > 0:47:14So the project has changed from getting quantity from the site
0:47:14 > 0:47:15to getting quality.
0:47:15 > 0:47:20But how much has that affected their proposed top budget of 500,000
0:47:20 > 0:47:22for the four houses they'd hoped for?
0:47:23 > 0:47:26At the moment I think I'm on 200 plus.
0:47:26 > 0:47:30And I think by the time we'll be finished with everything
0:47:30 > 0:47:31we'll be about 250 to 300.
0:47:33 > 0:47:35Assuming the upper £300,000 budget
0:47:35 > 0:47:39on top of their £281,000 purchase price,
0:47:39 > 0:47:43that would make their total spend 581,000.
0:47:43 > 0:47:48Is Jagen going to regret paying so much at auction for this project?
0:47:48 > 0:47:50Or has it worked out for the best?
0:47:50 > 0:47:53What do two local estate agents think?
0:47:53 > 0:47:54I personally feel,
0:47:54 > 0:47:57because of the style of the property and the location of it,
0:47:57 > 0:48:00it suits much better to have a detached house here.
0:48:00 > 0:48:04Plus the location is so convenient for the Tube and train station.
0:48:04 > 0:48:06So I think it's a very positive thing.
0:48:06 > 0:48:08My initial impressions are
0:48:08 > 0:48:11that the house has been constructed to a good standard.
0:48:11 > 0:48:14It's a nice specification thus far.
0:48:14 > 0:48:16I could see wardrobes in all the bedrooms
0:48:16 > 0:48:19and downstairs, the layout in general
0:48:19 > 0:48:22is commensurate with, I think, modern-day family living.
0:48:22 > 0:48:23Because of the level of value,
0:48:23 > 0:48:26the finish is very important to the person or persons
0:48:26 > 0:48:28that's going to purchase this property.
0:48:28 > 0:48:32So that'll be hopefully solid-wood floors, chrome finishes,
0:48:32 > 0:48:36the kitchen...I'd hope he's going to finish it
0:48:36 > 0:48:39with a high-gloss, with a possible slate finish.
0:48:39 > 0:48:41Plus the fact that he's got the detached garage
0:48:41 > 0:48:44and all the frontage, so providing that's landscaped and finished,
0:48:44 > 0:48:48that's going to stand you the best chance of selling the property.
0:48:48 > 0:48:51This project has always been about resale, rather than rental.
0:48:51 > 0:48:54And obviously they haven't completely finished it
0:48:54 > 0:48:57so it's hard to judge what the end product will look like.
0:48:57 > 0:48:59But if they do a high-end finish,
0:48:59 > 0:49:03what could the project they've invested £581,000 in
0:49:03 > 0:49:04be worth?
0:49:06 > 0:49:09I would recommend to put this on the market
0:49:09 > 0:49:10for 850,000
0:49:10 > 0:49:13and look at offers over 825.
0:49:13 > 0:49:15I think we should market the property
0:49:15 > 0:49:20for between £775,000 and £825,000.
0:49:20 > 0:49:25And the property will find its happy medium within that range.
0:49:25 > 0:49:28Wow, that figure of 825,000
0:49:28 > 0:49:31would give Jagen and his colleague Andrew
0:49:31 > 0:49:34a profit of 244,000.
0:49:34 > 0:49:37So how do they feel about that?
0:49:37 > 0:49:39Well, I'm delighted with it, to be honest with you.
0:49:39 > 0:49:42And for them to assess that figure in the property
0:49:42 > 0:49:44at the level it's at...
0:49:45 > 0:49:47..is heartening.
0:49:47 > 0:49:49So for all its trials and tribulations,
0:49:49 > 0:49:52it looks like this site might finally deliver
0:49:52 > 0:49:54a rather healthy profit.
0:49:54 > 0:49:56So are they glad they took the project on?
0:49:56 > 0:49:58We're glad, you know.
0:49:58 > 0:50:01When I bought it, I said to myself, "It's going to be a gamble."
0:50:01 > 0:50:03Yeah, it was more challenging than expected
0:50:03 > 0:50:06and the outcome was very different than what we originally planned
0:50:06 > 0:50:09but no hesitation - yes, we'd do it again
0:50:09 > 0:50:12and yeah, for us it was a good result.
0:50:16 > 0:50:19Well, Jagen and Andrew may not have got what they originally wanted
0:50:19 > 0:50:23but it certainly turned out OK in the end.
0:50:23 > 0:50:25So is the same true for Zarine and Gary,
0:50:25 > 0:50:29who bought a two-bed terraced house in Stanley in County Durham?
0:50:30 > 0:50:33It needed the full schedule of works -
0:50:33 > 0:50:35electrics, plumbing, possible new damp course
0:50:35 > 0:50:38and a comprehensive refurbishment throughout.
0:50:38 > 0:50:41And on top of this, there was the outside space,
0:50:41 > 0:50:44chock-full with lean-tos and outbuildings
0:50:44 > 0:50:46that really needed a rethink.
0:50:48 > 0:50:51It did also have the added bonus of a good-sized garage
0:50:51 > 0:50:55but it was the position of the house that made it right up their street.
0:51:01 > 0:51:03Tell me why you wanted to buy this place.
0:51:03 > 0:51:05We already owned another two in the street.
0:51:05 > 0:51:07You obviously know the houses, then.
0:51:07 > 0:51:10And how have the other ones gone for you?
0:51:10 > 0:51:11Absolutely wonderful.
0:51:11 > 0:51:14Yeah, we've recently done one up further up the street,
0:51:14 > 0:51:17within the last six months, and rented it out straightaway.
0:51:17 > 0:51:20And having bought the house for 34,500
0:51:20 > 0:51:23and with a proposed £10,000-12,000 budget,
0:51:23 > 0:51:25firefighter Gary and wife Zarine
0:51:25 > 0:51:29hoped they could prepare the house for rental in three to four months.
0:51:32 > 0:51:35And now, four months later, we're back with Gary and Zarine,
0:51:35 > 0:51:38to see if the house is on the road to recovery.
0:51:42 > 0:51:44Outside, not bad.
0:51:44 > 0:51:47The roof has been repaired and there is new guttering and fascias.
0:51:47 > 0:51:51But it was inside where the work was really needed and, in particular,
0:51:51 > 0:51:54that rather sorry kitchen.
0:51:55 > 0:51:59That's more like it! Contemporary, fresh and bright.
0:52:02 > 0:52:05And in the front lounge, gone is the old gas fire
0:52:05 > 0:52:07and in comes modern central heating.
0:52:07 > 0:52:09There is a new damp course installed
0:52:09 > 0:52:12and the house has been replastered and rewired throughout.
0:52:14 > 0:52:16But it's the kitchen that is the revelation.
0:52:16 > 0:52:19So, how did Zarine make the most of such little space?
0:52:19 > 0:52:25Right, so, in here, it was a very dark kitchen.
0:52:25 > 0:52:28It had wood panelling on the walls. It's not a very big kitchen,
0:52:28 > 0:52:32so it did take a little time for designing it.
0:52:32 > 0:52:37Space over here for a fridge-freezer. We've got the washing machine here
0:52:37 > 0:52:42and incorporated a cooker and extractor fan in there, as well.
0:52:44 > 0:52:46Yes, I think they have maximised the space
0:52:46 > 0:52:50and produced a great kitchen area, but what about upstairs?
0:52:56 > 0:52:59Well, again, this is now fully refurbished and the two bedrooms
0:52:59 > 0:53:02are now complemented it with a much-improved bathroom.
0:53:02 > 0:53:06So, the house itself is nearly ready to go.
0:53:08 > 0:53:10But what about the outside space?
0:53:11 > 0:53:14Remember that hotchpotch of outbuildings?
0:53:16 > 0:53:19Out here, there was originally an offshoot in here,
0:53:19 > 0:53:23with a see-through plastic roof. We have removed all that,
0:53:23 > 0:53:25put coping stones on top of all the walls and rendered
0:53:25 > 0:53:28all the interior yard walls.
0:53:28 > 0:53:32New soffits around the garage and guttering.
0:53:32 > 0:53:37New yard was put down along with drainage gullies.
0:53:37 > 0:53:41And up on the roof, it was originally a flat roof on there.
0:53:41 > 0:53:43We changed that to a sloping roof.
0:53:45 > 0:53:47Well, what an improvement.
0:53:47 > 0:53:50And the plan is for Zarine and Gary to use the garage for storage
0:53:50 > 0:53:52and not rent it out with the house.
0:53:53 > 0:53:57Overall, they must be really pleased with what they have achieved here.
0:53:59 > 0:54:03The greatest sense of satisfaction is you see an old, run-down house
0:54:03 > 0:54:04that just looked tired and dated,
0:54:04 > 0:54:06and we've brought it back to life.
0:54:06 > 0:54:09We've put a bit of life back into the house, just modernising it.
0:54:09 > 0:54:13And it gives you a great deal of satisfaction seeing the end product.
0:54:13 > 0:54:16It was very dark, very dark and dingy, when you came in.
0:54:16 > 0:54:19And it just made you feel unhappy, as soon as you walked in.
0:54:19 > 0:54:22But now it's just... It's full of life.
0:54:22 > 0:54:24It's a happy-looking house to walk into now.
0:54:26 > 0:54:29Gary is a firefighter and works shifts
0:54:29 > 0:54:32and Zarine looks after their rental portfolio,
0:54:32 > 0:54:35meaning work on the house has to be fitted around jobs.
0:54:35 > 0:54:38So, how involved were they on this project?
0:54:39 > 0:54:42Basically, my wife has done all the decorating.
0:54:42 > 0:54:44I fitted the kitchen, the bathroom, the roof out back.
0:54:44 > 0:54:47I've done a lot of the work myself, but we have had professionals in
0:54:47 > 0:54:50doing the work that we needed a competent person to do.
0:54:50 > 0:54:53Yeah, professionals for the professional jobs!
0:54:55 > 0:54:58And that's reflected in a very professionally finished project
0:54:58 > 0:55:02that, coupled with that "rent me" sign, has come up trumps again
0:55:02 > 0:55:05and they already have a tenant -
0:55:05 > 0:55:08a tenant, no less, who wants to pay for their own choice of carpets
0:55:08 > 0:55:13to be fitted, which is good news for Gary and Zarine's budget.
0:55:13 > 0:55:16We had a budget of somewhere between £10,000 to £12,000
0:55:16 > 0:55:19and I think we have actually came in at about 10,750,
0:55:19 > 0:55:21just under 11 grand.
0:55:23 > 0:55:28A spend of 11,000, on top of their 34,500 purchase price,
0:55:28 > 0:55:29takes their total costs
0:55:29 > 0:55:33to £45,500, without taxes or fees.
0:55:33 > 0:55:36So, the house is undoubtedly streaks better than it was,
0:55:36 > 0:55:38but has it been a good investment?
0:55:38 > 0:55:41What do two local estate agents think?
0:55:43 > 0:55:45I think the property has been well refurbished.
0:55:45 > 0:55:48Still a little bit of finishing off to be done, but the kitchen
0:55:48 > 0:55:50and bathroom are very impressive.
0:55:50 > 0:55:52They've both been refitted with new units.
0:55:52 > 0:55:53Generally, a job well done.
0:55:53 > 0:55:57I think the vendor has done a great job of the refurbishment.
0:55:57 > 0:55:59The kitchen and bathroom are done to a really high standard.
0:55:59 > 0:56:01Overall, the property is great.
0:56:01 > 0:56:05Zarine and Gary view this as a long-term investment
0:56:05 > 0:56:08and are not currently planning to sell the house,
0:56:08 > 0:56:10but how would their 45,500
0:56:10 > 0:56:13investment fare on the current resale market?
0:56:15 > 0:56:18If the owners were looking to sell in the current market,
0:56:18 > 0:56:20we would expect to achieve a price in the region of £60,000.
0:56:20 > 0:56:24Once all the refurbishments have been done, I'd value it at £60,000.
0:56:24 > 0:56:2860? Quite disappointed.
0:56:28 > 0:56:34We would be looking, if we decided to sell, would be 70, 72,000,
0:56:34 > 0:56:37- but I think we would be happy with 70,000, though.- Yeah.
0:56:37 > 0:56:40OK, so perhaps not as high as they had hoped for,
0:56:40 > 0:56:44but even a resale price of £60,000 would see a pre-tax profit
0:56:44 > 0:56:50just below 15,000. But what about its all-important rental value?
0:56:50 > 0:56:55In the current rental market, the owners could expect to rent
0:56:55 > 0:56:58the property out for something in the region of £400 to £425
0:56:58 > 0:56:59per calendar month.
0:56:59 > 0:57:02To rent the property out, once it has been fully refurbished,
0:57:02 > 0:57:05I would value the property at £400 per calendar month.
0:57:05 > 0:57:08We've actually managed to get 450.
0:57:08 > 0:57:14£450 per calendar month off a £45,500 investment
0:57:14 > 0:57:19gives a terrific annual rental yield in excess of 10%.
0:57:19 > 0:57:23But with 14 properties in their portfolio, are they ready to stop?
0:57:23 > 0:57:27I think, every year, we are happy with what we have,
0:57:27 > 0:57:32but then, obviously, a good deal comes along and a good deal...
0:57:32 > 0:57:35You just can't turn it down, so you just end up with another one!
0:57:35 > 0:57:37# Can't help myself... #
0:57:39 > 0:57:43And with their love of this street, property number 15 might not be
0:57:43 > 0:57:46far away, both in time and distance.
0:57:48 > 0:57:50# Can't help myself... #
0:57:52 > 0:57:55Well, the world of property is never static or boring.
0:57:55 > 0:57:58You need to know what you are doing, but we can help with that.
0:57:58 > 0:58:02Yes, we will have more tales from the auction rooms next time,
0:58:02 > 0:58:05- here, on Homes Under The Hammer. - Goodbye.- Goodbye.