0:00:02 > 0:00:04Hello. We both enjoy dabbling in the property market
0:00:04 > 0:00:07and love to snag a great deal, but in today's competitive market,
0:00:07 > 0:00:09well, that's not always easy.
0:00:09 > 0:00:13But what can you do to give yourself the best chance of success?
0:00:13 > 0:00:16Maybe you should buy your next house under the hammer.
0:00:42 > 0:00:45Property auctions are becoming increasingly popular
0:00:45 > 0:00:47and that's because there's no messing around.
0:00:47 > 0:00:50When the hammer falls, you have exchanged contracts.
0:00:50 > 0:00:53So let's take a look at the three properties
0:00:53 > 0:00:55going up for auction on today's programme.
0:00:57 > 0:01:00In Millbrook, Cornwall, you'll need to tread carefully
0:01:00 > 0:01:02when buying this cottage.
0:01:02 > 0:01:05You haven't even got a ceiling or a floor between the rooms.
0:01:07 > 0:01:10And you're going to need some imagination for the kitchen
0:01:10 > 0:01:12in this end of terrace in Limavady.
0:01:12 > 0:01:15You can see where all the units would go straightaway.
0:01:17 > 0:01:20But what this house in Carlisle needs most of all
0:01:20 > 0:01:22is to rediscover its inner home.
0:01:23 > 0:01:25The fact is, it was actually an office.
0:01:27 > 0:01:30All of these properties have been sold at auction
0:01:30 > 0:01:34and you can find out who bought them and what they paid for them when they went under the hammer.
0:01:34 > 0:01:36It's yours. Congratulations.
0:01:39 > 0:01:44I'm on the Rain Peninsula, an area known as Forgotten Cornwall.
0:01:44 > 0:01:49Across the Tamar Bridge or the Torpoint Ferry, you've got Plymouth and Devon.
0:01:49 > 0:01:53But here, you are definitely in Cornwall and it is a glorious spot.
0:01:53 > 0:01:55This is Millbrook.
0:01:55 > 0:01:57You've got Kingsand and the beaches close by.
0:01:57 > 0:02:00Inland, it's gorgeous. Who wouldn't want to live here?
0:02:00 > 0:02:04# Don't you forget about me
0:02:06 > 0:02:09# Don't, don't, don't, don't. #
0:02:09 > 0:02:13We are not officially on the coast here, but there is a tidal inlet
0:02:13 > 0:02:18from the River Tamar, so the place has the smell of salt in the air.
0:02:18 > 0:02:19Up the road is Torpoint,
0:02:19 > 0:02:22where you can catch the chain-link ferry to Plymouth,
0:02:22 > 0:02:24should you feel so inclined.
0:02:24 > 0:02:26So Millbrook is a perfect place to visit
0:02:26 > 0:02:29and possibly an ideal location to live.
0:02:29 > 0:02:31So what brings me here?
0:02:31 > 0:02:34Well, a potentially very interesting opportunity.
0:02:34 > 0:02:36It's this end of terrace.
0:02:36 > 0:02:39Actually, two properties that were knocked together to create
0:02:39 > 0:02:42this fairly substantial building.
0:02:42 > 0:02:45The guide price was £110,000 plus,
0:02:45 > 0:02:48which when you consider the average price of a house around here
0:02:48 > 0:02:51is nearly 200,000, makes it definitely worth investigating.
0:02:55 > 0:02:57OK. Plan B.
0:02:57 > 0:02:59It looks like the servants entrance for me.
0:02:59 > 0:03:03But this cottage is pretty in pink and I've got a good feeling about it.
0:03:04 > 0:03:06Erm... HAD a good feeling.
0:03:08 > 0:03:10Well, judging by this complete detritus,
0:03:10 > 0:03:13it's not going to be brilliant, is it?
0:03:13 > 0:03:16# But we're trash
0:03:16 > 0:03:19# You and me
0:03:19 > 0:03:22# We're the litter on the breeze. #
0:03:22 > 0:03:24The good news is, there is a skip on hand.
0:03:24 > 0:03:27The bad news is, you'll need several dozen more.
0:03:27 > 0:03:29And don't forget, skips cost a lot.
0:03:29 > 0:03:32Maybe this means there's nothing left inside to throw out.
0:03:33 > 0:03:36Fingers crossed. Well, I don't know. It's a nice size.
0:03:36 > 0:03:39You really get the impression it's these two cottages knocked into one
0:03:39 > 0:03:42and there are some original features at least, those beams.
0:03:42 > 0:03:47A good size space. Some nice features, yes. An old range here.
0:03:47 > 0:03:50But definitely one of those where you're going to have to try
0:03:50 > 0:03:53and see through what it's like to what it might become.
0:03:55 > 0:03:57Oh!
0:03:58 > 0:04:04Oh, boy! Wow! Right. A swift change of thought.
0:04:05 > 0:04:07A false sense of security in the kitchen.
0:04:07 > 0:04:11Through here, what a disaster. Lots of work in progress.
0:04:11 > 0:04:14Lots of bits and pieces and it hasn't been cleared out
0:04:14 > 0:04:18and suddenly we are looking at it as a shell because you haven't
0:04:18 > 0:04:22even got a ceiling or a floor between the rooms.
0:04:24 > 0:04:26It's gone to a different level, this place, hasn't it?
0:04:28 > 0:04:32# There's nothing left for me to take for granted. #
0:04:33 > 0:04:37There's certainly none of the things you WOULD take for granted in house here.
0:04:37 > 0:04:39Walls, ceiling, doors.
0:04:39 > 0:04:42I suspect someone has just taken on too much.
0:04:44 > 0:04:47Upstairs is a bedroom and bathroom above the kitchen
0:04:47 > 0:04:50and there's another two bedrooms at the front.
0:04:50 > 0:04:52But really, this place is a shell,
0:04:52 > 0:04:55where the floors are an optional extra.
0:04:55 > 0:04:57Talking of which, there is a third-floor.
0:04:57 > 0:04:59Be afraid. Very afraid!
0:05:01 > 0:05:06Well, up even more stairs to the top floor and...
0:05:08 > 0:05:12..I am absolutely dumbstruck.
0:05:12 > 0:05:15Look at what somebody has done up here to create
0:05:15 > 0:05:20a quite extraordinary amount of space.
0:05:20 > 0:05:23If you see there, that was the original roofline of the property.
0:05:23 > 0:05:29It's been extended up by, I don't know, 20 odd feet to incorporate
0:05:29 > 0:05:34both the existing top floor and the attic space and whatever.
0:05:34 > 0:05:40You've now got these three massive rooms with high ceilings,
0:05:40 > 0:05:45lots of window light, views out over the surrounding countryside.
0:05:45 > 0:05:49And it's almost like a completely different property.
0:05:49 > 0:05:53Yes, it's a mess and yes, there's lots of work to finish it off,
0:05:53 > 0:05:59but suddenly the potential of this place is screaming at you.
0:06:00 > 0:06:03The loft conversion as a whole is relatively recent
0:06:03 > 0:06:06and this possible large bedroom at the front of the property
0:06:06 > 0:06:09spans the entire width of the house.
0:06:09 > 0:06:13And this is not the only large area that the property has to offer.
0:06:15 > 0:06:18At the rear of the property, there is
0:06:18 > 0:06:22this absolutely massive elevated garden.
0:06:24 > 0:06:28And with a bit of interesting construction, shall we say,
0:06:28 > 0:06:31this kind of slightly sophisticated summerhouse.
0:06:31 > 0:06:33You've got that bit of the garden there,
0:06:33 > 0:06:35great views across the hills.
0:06:35 > 0:06:38But it gets even better because back there,
0:06:38 > 0:06:40about the same bit of garden again!
0:06:45 > 0:06:47It does take your breath away.
0:06:47 > 0:06:52It's an amazing house and land, all for that guide price of 110,000.
0:06:52 > 0:06:54But what a big project.
0:06:54 > 0:06:58Let's see what a local property expert thought of the task ahead.
0:06:59 > 0:07:01Looking at the property, it's such a job.
0:07:01 > 0:07:04It's going to be a six month job at least to actually get
0:07:04 > 0:07:06a finished article where you can move in.
0:07:06 > 0:07:09It's not really for the DIY enthusiast by any means.
0:07:09 > 0:07:12This is a professional job. It needs everything doing to it.
0:07:12 > 0:07:15I think on the way out they have stripped everything,
0:07:15 > 0:07:18so it really is a bit of a state.
0:07:19 > 0:07:21Millbrook itself is the head of the tidal creek,
0:07:21 > 0:07:24so it is quite a pleasant village. The people here are lovely.
0:07:24 > 0:07:27It's a good commuter town.
0:07:27 > 0:07:29The city of Plymouth is obviously only about 10 miles away
0:07:29 > 0:07:33so it's very handy for those working in and out every day.
0:07:33 > 0:07:37The property clearly requires an extensive programme of modernisation,
0:07:37 > 0:07:41reconfiguration of various rooms and maybe the staircase even.
0:07:41 > 0:07:44But once that is completed to a high standard,
0:07:44 > 0:07:46I think you could put this on the market
0:07:46 > 0:07:49somewhere in the region of £225,000 to £250,000.
0:07:49 > 0:07:52And how about the rental market?
0:07:52 > 0:07:56If the property was refurbished to a high standard and placed on the rental market,
0:07:56 > 0:08:00you could achieve somewhere in the region of £850 to £900 per calendar month.
0:08:01 > 0:08:03Despite what it may appear,
0:08:03 > 0:08:07I think this is an absolutely brilliant opportunity
0:08:07 > 0:08:11because to buy something like this done up in this part of the world,
0:08:11 > 0:08:13you're going to have to pay a lot more money.
0:08:13 > 0:08:17It's a classic case of if you can buy it for the right price at the auction,
0:08:17 > 0:08:21spend a bit of money doing it up, you could really do extremely well
0:08:21 > 0:08:24and have a lovely home in this lovely location.
0:08:24 > 0:08:27Let's see who agreed when it went under the hammer.
0:08:31 > 0:08:34A handsome, three-storey end of terrace house.
0:08:34 > 0:08:36How many people are going to put their hands up
0:08:36 > 0:08:38if I ask for £100,000?
0:08:38 > 0:08:40It's not going to go for less than that.
0:08:40 > 0:08:43If there is nobody here for it at that level, I will just slide on by.
0:08:43 > 0:08:46Thank you, sir. 100, I've got. 102 from the young lady. 105 if I can, sir.
0:08:46 > 0:08:50108 to you if you would like it. At 108. 110 is there.
0:08:50 > 0:08:53At 110. At 112. 112.
0:08:53 > 0:08:56The lot attracted plenty of interest.
0:08:56 > 0:09:01We rejoin the auction where the bidding has now reached 138,000.
0:09:01 > 0:09:06138 behind you, I'm afraid. I now need to ask you for 139. 139.
0:09:06 > 0:09:11140, I have. 140. 141. 142. 143.
0:09:11 > 0:09:15144. 144, I've got. 145.
0:09:15 > 0:09:20146. 147. 148. 149.
0:09:20 > 0:09:24150. 151. 151.
0:09:24 > 0:09:29A shake of the head. At 151, once. At 151, twice.
0:09:29 > 0:09:35At 151, the lady has it. If you're sure and done at 151 and out.
0:09:35 > 0:09:39That successful £151,000 bid came from Amy.
0:09:39 > 0:09:41# To be a real sensation
0:09:41 > 0:09:43# With your inspiration
0:09:43 > 0:09:46# You've got to know the tricks of the trade. #
0:09:47 > 0:09:50This property is definitely going to need all the tricks of the trade,
0:09:50 > 0:09:53which is perfect as Amy is a plumber.
0:09:53 > 0:09:56Plus, she's no stranger to renovations.
0:09:56 > 0:09:59I met her back at the cottage to find out more.
0:09:59 > 0:10:04- Amy.- Hi. Congratulations. Thank you. I think!- Wow!
0:10:04 > 0:10:06- A bit of work to do then? - Yes, just a little bit!
0:10:06 > 0:10:11- A potentially amazing house.- Yes, I think so.- Why did you want to buy it?
0:10:11 > 0:10:15It just looked like a good project. I like a challenge, I think.
0:10:15 > 0:10:18Once we get all the rubbish out, I think it will look good.
0:10:18 > 0:10:22What was it about the house you particularly liked?
0:10:22 > 0:10:25The character, I really like the fact it's a cottage.
0:10:25 > 0:10:29But it's not a small cottage like most because it used to be two properties.
0:10:29 > 0:10:31It's quite a big place.
0:10:31 > 0:10:33So what do you know about the area?
0:10:33 > 0:10:37I lived here for 28 years and moved away just over 12 months ago.
0:10:37 > 0:10:41I've always lived here, I've been brought up here and I really like it.
0:10:41 > 0:10:44So you bought this to move back? Is this going to be your house?
0:10:44 > 0:10:47Yes. It's a lovely area. It's a nice opportunity, a nice house.
0:10:47 > 0:10:51Amy is spot on. It's going to be fabulous.
0:10:51 > 0:10:54So what kind of experience is she going to bring to it?
0:10:54 > 0:10:57- I'm a plumber. I've been doing it for 11 years.- Great.
0:10:57 > 0:11:01I converted a couple of properties that I've lived in and I just love doing it.
0:11:01 > 0:11:04- I saw this opportunity and thought, yes, go for it.- Great.
0:11:04 > 0:11:07- A lady plumber. There aren't still that many, are there?- No.
0:11:07 > 0:11:10I don't know any other ones, but I think there are a few around.
0:11:10 > 0:11:13I worked with dad. A summer job originally.
0:11:13 > 0:11:17- And it just stuck for 11 years. - He's a plumber, is he?- Yes.
0:11:17 > 0:11:20He's got a local business and I just started working with him.
0:11:20 > 0:11:23Sounds like Amy is just the woman for the job.
0:11:23 > 0:11:27But who is going to be doing the not inconsiderable work?
0:11:27 > 0:11:31Me and my dad, mainly. We're hoping to get it done in about six months.
0:11:31 > 0:11:34We've given ourselves 12 months maximum, but six months should see it done.
0:11:34 > 0:11:37- Will you be fitting that around other jobs?- Yes.
0:11:37 > 0:11:42- Evening and weekends. So this is my spare time hobby.- Is it? OK.
0:11:42 > 0:11:46- I've still got to work all day. - That can't be easy though, can it?
0:11:46 > 0:11:49No, it's quite tiring. But I enjoy it.
0:11:49 > 0:11:53So Amy and her dad, John, will be doing their bit on this huge task.
0:11:53 > 0:11:58- But is her budget equally huge? - We're hoping for around 20,000.- OK.
0:11:58 > 0:12:01We can obviously do most of the work ourselves
0:12:01 > 0:12:04so we don't need to employ people, so it's just materials, really.
0:12:04 > 0:12:06Structurally, we're not changing too much.
0:12:06 > 0:12:09We are going to move the staircase just to make it a bit more practical.
0:12:09 > 0:12:11And then just gut each room and redo it,
0:12:11 > 0:12:15finish off the loft conversion because they're halfway through that.
0:12:15 > 0:12:17We've got two bathrooms to put in.
0:12:17 > 0:12:20Outside, there is a fair bit of work just to get the garden sorted out.
0:12:20 > 0:12:24There's a summer house in the garden that's nearly finished, so we'll finish that.
0:12:24 > 0:12:29You seem, how can I put this, fairly unfazed by the challenges ahead.
0:12:29 > 0:12:32Yes. I think most people would look at it and see quite a big challenge.
0:12:32 > 0:12:35But I've done up a couple of properties that I've lived in
0:12:35 > 0:12:39and I think I've done more work on those than needs doing on this.
0:12:39 > 0:12:43- So it shouldn't be too bad. - Well, listen, congratulations.
0:12:43 > 0:12:46- Good luck with it.- Thanks.- We look forward to seeing how you get on.
0:12:46 > 0:12:48Thank you.
0:12:49 > 0:12:55Well, Amy may well be in the trade, but she still seems remarkably undaunted
0:12:55 > 0:13:01by what by most people's standards would be a pretty enormous project.
0:13:01 > 0:13:05Still, I think she can see... Well, I know she can see the potential.
0:13:05 > 0:13:08So let's see how she gets on later in the show.
0:13:12 > 0:13:15Fancy a bit more beautiful British coastline?
0:13:15 > 0:13:19Well, how about the stunning golden beaches of Northern Ireland?
0:13:19 > 0:13:22This is Benone Beach, one of the most scenic
0:13:22 > 0:13:26and photographed beauty spots in this part of the world.
0:13:26 > 0:13:28An area of natural beauty.
0:13:28 > 0:13:32It stretches for over seven miles, from the ruins of Downhill House
0:13:32 > 0:13:37to the Mussenden Temple and on to Martello Tower at Magilligan Point,
0:13:37 > 0:13:41where Donegal is just a short ferry ride across the lock.
0:13:41 > 0:13:45About five miles from Downhill Benone's beautiful sands,
0:13:45 > 0:13:48I'm in the little coastal hamlet of Drumavalley.
0:13:48 > 0:13:52It may seem quite remote, but it's actually just under eight
0:13:52 > 0:13:56miles from the market town of Limavady in County Londonderry.
0:13:56 > 0:13:58Close to the sea coast road,
0:13:58 > 0:14:00much of this hamlet was built in the mid '70s
0:14:00 > 0:14:04and with the station just a mile and a half away,
0:14:04 > 0:14:08you can get yourself to Derry and Belfast in just under two hours.
0:14:08 > 0:14:12And all that for a guide price of £35,000. Not bad.
0:14:16 > 0:14:20Now, the neighbours have been telling me these properties were built in the late '70s
0:14:20 > 0:14:24and I've got to say, these feel very solid, great houses.
0:14:24 > 0:14:27Although, this one in particular, no central heating,
0:14:27 > 0:14:30so you're going to have to factor that into the cost.
0:14:30 > 0:14:34But a really nice sitting room with lovely windows.
0:14:34 > 0:14:37In fact, all the windows and doors look to be pretty new.
0:14:37 > 0:14:39So you win some, you lose some.
0:14:39 > 0:14:45Through here into an extremely open plan, large kitchen dining room.
0:14:45 > 0:14:48You can see where all the units would go straightaway.
0:14:48 > 0:14:50You've got off-street parking.
0:14:50 > 0:14:55You would have to put a little fence panel up there to designate your special little area.
0:14:55 > 0:14:59But it's a great start and it's got a really nice homely feel to it.
0:15:01 > 0:15:05It would of course feel more homely if it actually had a kitchen.
0:15:05 > 0:15:09Unfortunately, no kitchen means most lenders will consider it
0:15:09 > 0:15:12to be uninhabitable and therefore unmortgageable
0:15:12 > 0:15:15Some specialist companies will advance up
0:15:15 > 0:15:19to 90% of the value of a property in the uninhabitable state,
0:15:19 > 0:15:23releasing funds in stages as the property is restored.
0:15:23 > 0:15:27So unless you've got a lot of cash, this could be a way to go.
0:15:27 > 0:15:30What I will say about this property is that there is a certain
0:15:30 > 0:15:34amount of character here. You've got these lovely balustrades.
0:15:34 > 0:15:37Look at this great big window letting in loads of light.
0:15:37 > 0:15:41You've got quite high ceilings. Three bedrooms, which is fantastic.
0:15:41 > 0:15:44A great family house. A bathroom through here.
0:15:44 > 0:15:47And it does have a spacious feel.
0:15:47 > 0:15:48But the best bit for me
0:15:48 > 0:15:52is you can look at out to sea and there is Donegal just over there.
0:15:54 > 0:15:57For natural beauty, towering mountains
0:15:57 > 0:16:01and the joys of rural living, you can't beat this little hamlet.
0:16:06 > 0:16:10And it's just as well that that is all on your doorstep, as this
0:16:10 > 0:16:14end of terrace house doesn't have much to offer in the way of gardens.
0:16:14 > 0:16:18There's a small plot out front that can do with a tidy up
0:16:18 > 0:16:22and as we've seen, a rear yard crying out for fence panels to offer some privacy.
0:16:22 > 0:16:24But as for the house itself,
0:16:24 > 0:16:27the roof and windows look in reasonable condition.
0:16:29 > 0:16:32But what does a local property expert think of this house,
0:16:32 > 0:16:35guided at £35,000?
0:16:37 > 0:16:41First impressions, it's a house in need of some modernisation
0:16:41 > 0:16:43and some repairs.
0:16:43 > 0:16:45I think with a bit of work done to it,
0:16:45 > 0:16:48I think it will prove to be a good buy.
0:16:49 > 0:16:52But is Limavady a good place to invest your money?
0:16:52 > 0:16:55It's a nice, quiet area to bring up young children.
0:16:55 > 0:16:58You have some good primary schools here.
0:16:58 > 0:17:01It's a good commuting link between Limavady and Coleraine.
0:17:01 > 0:17:04And, of course, you have the leisure facilities as well
0:17:04 > 0:17:06of Benone Beach and all the attractions.
0:17:06 > 0:17:08But the key question is, once refurbished,
0:17:08 > 0:17:12how attractive would this place be on the property market?
0:17:12 > 0:17:15Once the property has been tastefully refurbished,
0:17:15 > 0:17:20I would expect the property to fetch in the region of between £55,000 and £60,000.
0:17:20 > 0:17:23Once renovated, I would expect this property
0:17:23 > 0:17:26to rent in the region of £425 per calendar month.
0:17:28 > 0:17:31Well, you can hear the seagulls from here and smell the sea.
0:17:31 > 0:17:34A solid house with character and views
0:17:34 > 0:17:38and a guide price of £35,000.
0:17:38 > 0:17:41Let's see who went for this one at the auction.
0:17:46 > 0:17:48Lot number 82. Guide price of £35,000.
0:17:48 > 0:17:50We have a pre-auction bid here of 25,000.
0:17:50 > 0:17:54We have a pre-auction bid of 25,000. Any advance on 25,000?
0:17:54 > 0:17:5930,000. We have 30,000. 30,000, seated. Any advance on 30,000?
0:17:59 > 0:18:04Any advance on 30,000? We have 30,000, seated. All sure? Last call.
0:18:04 > 0:18:1131. 31,000. 31 against you. 32. 32, it is. 33. 33 against you, sir.
0:18:11 > 0:18:17At 33,000. 34. 34 it is, seated against you. 34,000. 34. 35.
0:18:17 > 0:18:22Selling at 35,000. Against you, sir. 35,000. On the man standing. 36.
0:18:22 > 0:18:2736, seated. At 36,000. Selling at 36,000. All sure? Last call.
0:18:27 > 0:18:29Going once. Going twice.
0:18:30 > 0:18:36And that hidden but successful bidder getting the lot for £36,000 was George.
0:18:36 > 0:18:39George bought the house along with his wife, Paula.
0:18:39 > 0:18:43While she is a part-time swimming teacher and housewife,
0:18:43 > 0:18:45George is a local farmer.
0:18:45 > 0:18:49So I was keen to find out why they had ploughed their money into this property.
0:18:49 > 0:18:52- George and Paula, congratulations. - Thank you.- Thank you.
0:18:52 > 0:18:55What was it like for you on auction day?
0:18:55 > 0:18:58It was a little bit nerve-racking, but all right. It was OK.
0:18:58 > 0:19:00George, I know you're a farmer,
0:19:00 > 0:19:04so how does a farming auction compare to a property auction?
0:19:04 > 0:19:07It's basically the same principle, but just more money involved.
0:19:07 > 0:19:11A cow would be 500, where a house is whatever you want to pay for it.
0:19:11 > 0:19:15Tell me about your farming background. How long have you been farming for?
0:19:15 > 0:19:19I've been farming since I left school. Beef farming.
0:19:19 > 0:19:24With farming not as lucrative as it once was, George and Paula decided
0:19:24 > 0:19:29to branch into property developing to subsidise the family income
0:19:29 > 0:19:32and over the past 25 years, have now got themselves
0:19:32 > 0:19:35a nice little crop of properties in the area.
0:19:35 > 0:19:38Would you say you prefer property to farming?
0:19:38 > 0:19:40They both have got their advantages.
0:19:40 > 0:19:44The farming, by day, I suppose you don't see anybody.
0:19:44 > 0:19:48When you work in houses, you're always speaking to people
0:19:48 > 0:19:50and meeting people and I enjoy that very much.
0:19:50 > 0:19:54- So you quite enjoy the property banter, do you?- Yes, I do.
0:19:54 > 0:19:58I like doing things to houses and talking to the tenants. That type of thing.
0:19:58 > 0:20:00Do you know this area well?
0:20:00 > 0:20:05Yes. We live about a mile away from here, from Drumavalley.
0:20:06 > 0:20:10Well, we already have a property in Drumavalley, and we know
0:20:10 > 0:20:13- all the locals really well. - Do you?- We know them all.
0:20:13 > 0:20:17Well, most of them all very well, and I'm sure most of them would know us.
0:20:17 > 0:20:20So, George, would you know everybody in every house on every street,
0:20:20 > 0:20:22- honestly?- Yes.
0:20:22 > 0:20:24I could take you to any house on this estate
0:20:24 > 0:20:28and name the person by name and they would name me by name.
0:20:28 > 0:20:31- And they would know you, Paula? - Yes, they would.- What's that about?
0:20:31 > 0:20:36Well, I suppose it's just more the Irish way of doing things,
0:20:36 > 0:20:38that everybody knows everybody
0:20:38 > 0:20:42and it's like one big family on the whole estate and you discover
0:20:42 > 0:20:45that a lot of people would be related to one another.
0:20:45 > 0:20:49And maybe work together or have grown up together or grown up
0:20:49 > 0:20:51with their parents or their sisters.
0:20:51 > 0:20:55- So lots of families all live and work and play together.- Correct.
0:20:55 > 0:20:59So how did you get to hear about this? I'm sure it was word of mouth!
0:20:59 > 0:21:00Correct, word of mouth.
0:21:00 > 0:21:03That's why we didn't view it before we purchased it
0:21:03 > 0:21:06because we know what the house is like.
0:21:06 > 0:21:10We already have one on this estate and it's worked very well for us.
0:21:10 > 0:21:14And this one came up for sale, so we said we would try and buy it.
0:21:14 > 0:21:17So, hold on a minute. You bought this without seeing it?
0:21:17 > 0:21:21Well, I had been in this particular house before with
0:21:21 > 0:21:25the previous owner, but I haven't been in it since the last two
0:21:25 > 0:21:28years and we didn't come to view it before we purchased it.
0:21:28 > 0:21:33Because you know everybody on this estate, you'd actually been in this house a couple of years ago anyway.
0:21:33 > 0:21:37- Yes, as a visitor. - So, you sort of tried to remember what the property was like and
0:21:37 > 0:21:43- today's the first time you've seen it since you bid for it at auction. - Correct.- Yes.
0:21:43 > 0:21:46# I know, I know, I know
0:21:46 > 0:21:50# We've been here once before
0:21:51 > 0:21:55# I know, I know, I know
0:21:55 > 0:21:59# Cos we've been here once before... #
0:22:03 > 0:22:06George and Paula plan on renting the house out,
0:22:06 > 0:22:08so all that word of mouth will come in handy
0:22:08 > 0:22:11when it comes to finding a tenant and chances are,
0:22:11 > 0:22:15whoever rents it out will already be living in the hamlet.
0:22:15 > 0:22:18George knows these are solid houses that won't be needing much
0:22:18 > 0:22:20work to get up to speed.
0:22:20 > 0:22:23This will be a refurbishment, a new kitchen, new tiling,
0:22:23 > 0:22:25new skirting, new doors.
0:22:25 > 0:22:28Decorate it.
0:22:28 > 0:22:31Nothing major. All just basic work.
0:22:31 > 0:22:35Heating system, have to replace the heating system. And fences outside.
0:22:35 > 0:22:39I think you can't extend here. That's quite easy to see.
0:22:39 > 0:22:41You've got what you've got,
0:22:41 > 0:22:44you've got to work within the boundary of your floor plan.
0:22:44 > 0:22:48Do you think you could tweak it in any way, or are you happy with the way it's laid out?
0:22:48 > 0:22:52I'd be quite happy the way it's laid out. There's not much more you can do with it.
0:22:52 > 0:22:54You couldn't do much more to improve it.
0:22:54 > 0:22:56So I won't touch the layout at all.
0:22:59 > 0:23:02With their 25 years' experience,
0:23:02 > 0:23:05the couple reckon that a five grand budget and a month's turnaround
0:23:05 > 0:23:08should be enough to get the place ready for the rental market.
0:23:08 > 0:23:12And George will be tackling most of the jobs needed here,
0:23:12 > 0:23:15though it will only take a quick phone call for a plumber or
0:23:15 > 0:23:17electrician to do the jobs that require a certificate.
0:23:17 > 0:23:19And Paula's role?
0:23:19 > 0:23:23I'll be involved with the purchasing of the kitchens and the
0:23:23 > 0:23:29appliances, the decor, as George wouldn't be the best at the decor!
0:23:29 > 0:23:32- I choose all the colours. - And why is that?
0:23:32 > 0:23:35Why are you not very good at the decor?
0:23:35 > 0:23:39I think I'm very good at the decor, but Paula thinks I'm colour-blind.
0:23:39 > 0:23:43So you get involved in doing it up and making it look nice?
0:23:43 > 0:23:45Yeah, uh-huh.
0:23:45 > 0:23:48And make decisions...get the bathroom suite,
0:23:48 > 0:23:53anything that has to be done, I'll hopefully get involved there.
0:23:53 > 0:23:55So, do you two work well together as a team?
0:23:55 > 0:23:57Yes, we would, yes.
0:23:57 > 0:24:01Yes, with a weakness, hopefully, the other one will be better.
0:24:01 > 0:24:04So with the two put together, we can manage it.
0:24:04 > 0:24:06It's been fantastic meeting you both.
0:24:06 > 0:24:08I'm really excited to see what this looks like
0:24:08 > 0:24:11and to see who you rent it out to. So, congratulations.
0:24:11 > 0:24:15And we'll be in touch. Lovely to see you today. Thank you.
0:24:15 > 0:24:17- Thank you very much. - Thank you very much.
0:24:17 > 0:24:19So, farmer George clearly
0:24:19 > 0:24:23experienced in the world of property, as well as farming.
0:24:23 > 0:24:27He knows what he's doing and with the help of Paula, I reckon
0:24:27 > 0:24:30this one will be added to their field of dreams.
0:24:30 > 0:24:34You can find out how they both get on later in the programme.
0:24:34 > 0:24:38Coming up, in Carlisle, this might look like a house, but...
0:24:38 > 0:24:42In its most recent guise it wasn't actually used as a house.
0:24:45 > 0:24:49And in Limavady, did George and Paula get on?
0:24:49 > 0:24:52She does what she's told! THEY CHUCKLE
0:24:52 > 0:24:54Which is not very often!
0:24:59 > 0:25:04We now head back to Cornwall and the village of Millbrook, where
0:25:04 > 0:25:07earlier we saw this end of terrace cottage that had loads of character
0:25:07 > 0:25:12from the outside, but inside, well, yes, hm...
0:25:12 > 0:25:16But there was a lot of potential here across its three floors.
0:25:16 > 0:25:20It was obviously midway through a renovation,
0:25:20 > 0:25:23with unfinished jobs, here, there and everywhere.
0:25:23 > 0:25:26It would take someone brave to take this project on
0:25:26 > 0:25:31and in this case, it was Amy who bought the cottage for £151,000.
0:25:31 > 0:25:36Amy's already done up two properties and importantly, is a plumber,
0:25:36 > 0:25:41both of which might explain why she took the plunge with this project.
0:25:41 > 0:25:44- Why did you want to buy it? - Just looked like a good project.
0:25:44 > 0:25:48I like a challenge, I think! A lot of rubbish to get rid of.
0:25:48 > 0:25:51I don't think there's too much work, once all of that's out.
0:25:51 > 0:25:55- Really?- We'll see. It's not as bad as it looks, I don't think.
0:25:55 > 0:25:57Well, appearances can be deceptive,
0:25:57 > 0:26:02but Amy was confident that with her dad's help, a £20,000 outlay
0:26:02 > 0:26:04and a 12 month timescale,
0:26:04 > 0:26:08she would be able to make this into a new home for herself.
0:26:08 > 0:26:12And when we returned, 11 months later, the cottage front appeared
0:26:12 > 0:26:17unchanged, though the original front door was now bricked up.
0:26:17 > 0:26:20Fortunately, Amy was there to show us the new entrance
0:26:20 > 0:26:22and her new home.
0:26:31 > 0:26:36Wow! Amy has done an amazing job of the cottage!
0:26:36 > 0:26:42Dining room and lounge combine to create a gorgeous open plan space.
0:26:42 > 0:26:46And look at the country cottage kitchen that Amy has created
0:26:46 > 0:26:51by using the original units and then adding perfect finishing touches.
0:26:51 > 0:26:53I love the butler sink.
0:26:53 > 0:26:56There's a good flow from the lounge to the kitchen,
0:26:56 > 0:27:00but it's only possible now due to the ground floor's biggest change.
0:27:00 > 0:27:03So, in here, I decided to move the front door.
0:27:03 > 0:27:06It was in the living room before and it just didn't work.
0:27:06 > 0:27:09It didn't flow properly. So, moved the front door into here.
0:27:09 > 0:27:14Because of building regs, we needed a fire escape route, so we had to move the stairs.
0:27:14 > 0:27:18Decided to move them into the middle of the house. That means the whole place flows a lot better.
0:27:18 > 0:27:21They flow onto the next set of stairs and it's a nice open landing.
0:27:21 > 0:27:23It certainly is.
0:27:23 > 0:27:25And if we go with the flow to the first floor,
0:27:25 > 0:27:29the bedrooms now have walls. There's a bonus(!)
0:27:29 > 0:27:31And the wooden floors have now been restored,
0:27:31 > 0:27:34which adds to the cosy cottage feel.
0:27:34 > 0:27:37I've put fireplaces back in to the bedrooms,
0:27:37 > 0:27:41just to give a bit of character. I wanted it to look cottagey,
0:27:41 > 0:27:43I haven't wanted to make it look too modern.
0:27:43 > 0:27:47So, I've tried to make the bathrooms quite traditional as well.
0:27:47 > 0:27:51The bathroom is definitely in keeping with the style
0:27:51 > 0:27:53throughout the cottage.
0:27:53 > 0:27:57Now, up the next flight of stairs is the bit I've been waiting for -
0:27:57 > 0:28:01that great loft space with bags of potential.
0:28:01 > 0:28:05The cottage now has a fourth bedroom, complete with en suite.
0:28:05 > 0:28:08So, I decided to move the door. The doorway came through
0:28:08 > 0:28:11and round the corner before and it didn't work very well.
0:28:11 > 0:28:14I decided to put an en-suite in there.
0:28:14 > 0:28:18It's something I could do easily and it works for this room.
0:28:18 > 0:28:20But there's more.
0:28:20 > 0:28:24Across the landing is yet another light, spacious bedroom.
0:28:24 > 0:28:27And next to it, a family shower room.
0:28:27 > 0:28:30This top floor layout has certainly got every inch of space
0:28:30 > 0:28:33working for itself, just like Amy had to.
0:28:33 > 0:28:36I've managed to do everything myself, apart from the plastering.
0:28:36 > 0:28:39I've got somebody in to do that. My dad's been helping me as well.
0:28:39 > 0:28:43- But I've been doing all of it. - Very impressive indeed.
0:28:43 > 0:28:45And needless to say,
0:28:45 > 0:28:48installing the bathrooms must have been her speciality.
0:28:48 > 0:28:50# I'm a one woman army
0:28:50 > 0:28:52# Yes, I'm doing OK
0:28:52 > 0:28:54# Wanna see the sweeter side of me
0:28:54 > 0:28:56# Don't get in my way. #
0:28:56 > 0:29:00New electrics had been fitted before Amy had bought the house,
0:29:00 > 0:29:04but an electrician has been brought in to certify and sign it all off.
0:29:04 > 0:29:07All that remains to be done now is a lick of paint on the end wall
0:29:07 > 0:29:09and a tidy up of the garden.
0:29:09 > 0:29:12For what was almost a one-woman show,
0:29:12 > 0:29:15this is such an impressive transformation,
0:29:15 > 0:29:18especially considering it was all done in 11 months.
0:29:18 > 0:29:21We said 12 months and I've been doing it in my spare time.
0:29:21 > 0:29:25If I'd given more of my spare time up, I would have got it done
0:29:25 > 0:29:29sooner, but I've got to enjoy life as well, at the same time.
0:29:29 > 0:29:33Amy did most of the work in the evenings and weekends,
0:29:33 > 0:29:37with her daytime plumbing job helping to pay for the renovation.
0:29:37 > 0:29:40But how did that £20,000 budget cope with all the impressive
0:29:40 > 0:29:41changes here?
0:29:41 > 0:29:45We've come in under budget. I think we're about 16 or 17,000...
0:29:45 > 0:29:48I've got to work out some final figures and obviously,
0:29:48 > 0:29:52finish outside, but there's not much to spend out there. So, yeah, I'm pleased with that.
0:29:52 > 0:29:54So you should be, Amy!
0:29:54 > 0:29:57Pulling off this renovation for that figure was down to doing
0:29:57 > 0:29:59all the work herself.
0:29:59 > 0:30:03And the fortune of having no hidden horrors lurking in the cottage.
0:30:03 > 0:30:08It all means that along with her purchase price of £151,000,
0:30:08 > 0:30:11her total outlay is now around £168,000.
0:30:11 > 0:30:14And together with her pet parrot, Oakley,
0:30:14 > 0:30:17she can now enjoy the comforts of her new home.
0:30:17 > 0:30:19I moved in four months ago,
0:30:19 > 0:30:23so I've been living here while I've been doing the work, so I've been
0:30:23 > 0:30:26giving some more spare time to it, when I get home from work, evenings.
0:30:26 > 0:30:30So, yeah, I'll live here a while and then see what happens.
0:30:31 > 0:30:35But what do two local property experts think of Amy's hard
0:30:35 > 0:30:39work and of her £168,000 investment?
0:30:39 > 0:30:41We start off with the auctioneer who first saw
0:30:41 > 0:30:44the property before Amy got her hands on it.
0:30:44 > 0:30:48I thought I was at the wrong property when I eventually came in
0:30:48 > 0:30:49here, but it's a wonderful job.
0:30:49 > 0:30:54It really is a transformation from top to bottom.
0:30:54 > 0:30:58I think the house has been done up to a really good standard.
0:30:58 > 0:31:01They've presented it beautifully, kept it really neutral.
0:31:01 > 0:31:03I think the layout works really well.
0:31:03 > 0:31:07I think moving the stairs into the middle of the property gives
0:31:07 > 0:31:09downstairs a more open feel.
0:31:09 > 0:31:12As soon as you walk in, it's a wonderful warm feel to the property.
0:31:12 > 0:31:14It's a homely feel.
0:31:14 > 0:31:16If Amy did decide to sell on,
0:31:16 > 0:31:20what sort of profit could she make after her £168,000 spend?
0:31:20 > 0:31:23If I was to place the property on the open market, it would
0:31:23 > 0:31:25be in the region of £275,000.
0:31:25 > 0:31:31I'd value this property at £250-275,000.
0:31:31 > 0:31:34Those upper valuations mean that Amy,
0:31:34 > 0:31:36if she decided to sell the house,
0:31:36 > 0:31:41could make a profit of £107,000, minus the usual taxes and fees.
0:31:41 > 0:31:43That's fantastic!
0:31:45 > 0:31:47I'm really pleased with the valuation on it.
0:31:47 > 0:31:52I was hoping for about 295 tops, so I think if I do decide to sell,
0:31:52 > 0:31:54then that's the figure I'll go for.
0:31:54 > 0:31:58And the agents also reckon if she decides to let the cottage out,
0:31:58 > 0:32:02Amy could get an annual yield of around 5%.
0:32:02 > 0:32:04but after putting all that hard work into the house,
0:32:04 > 0:32:08she's decided to stay put and enjoy it all.
0:32:08 > 0:32:10I'd like a bit of a break.
0:32:10 > 0:32:13I want a few holidays and just relax for the summer.
0:32:13 > 0:32:16I missed out on all of my summer last year, doing this place up,
0:32:16 > 0:32:17so this year's time for me.
0:32:29 > 0:32:32I'm in the historic city of Carlisle.
0:32:32 > 0:32:36This city has been centre stage in sieges and battles
0:32:36 > 0:32:38fought by the local populace -
0:32:38 > 0:32:41the Romans, the Vikings and of course the Scots.
0:32:41 > 0:32:46In 1745, Bonnie Prince Charlie's forces held the garrison
0:32:46 > 0:32:49until the Duke of Cumberland took the castle back
0:32:49 > 0:32:54and executed 31 Jacobites on the streets of the city.
0:32:54 > 0:32:56Today, it's a major railway hub
0:32:56 > 0:33:01and only a few minutes drive down the M6 to the lovely Lake District.
0:33:01 > 0:33:03Well, two miles east of Carlisle town centre,
0:33:03 > 0:33:06situated on a very convenient bus route,
0:33:06 > 0:33:07is the property I'm here to see.
0:33:07 > 0:33:10And a very substantial one it is, too.
0:33:10 > 0:33:15A three-bedroom semidetached in this slightly elevated plot.
0:33:15 > 0:33:1740,000 quid was the guide price, let's take a look.
0:33:21 > 0:33:24Now, for £40,000, you might not think you're going to get a lot
0:33:24 > 0:33:26for your money, but actually you'd be wrong.
0:33:26 > 0:33:28For a start, this is an ex-local authority house
0:33:28 > 0:33:31and as you know, that generally means
0:33:31 > 0:33:32quite a lot of house for the money.
0:33:32 > 0:33:36Good, solid walls, and a decent amount of space.
0:33:36 > 0:33:38Certainly, that's the image you get
0:33:38 > 0:33:40the moment you walk through the door.
0:33:40 > 0:33:42Winding staircase up to the bedrooms there,
0:33:42 > 0:33:44this is a little entrance area
0:33:44 > 0:33:47and then through to your main living accommodation.
0:33:47 > 0:33:53Dual aspect, nice bay window here, a few signs of neglect.
0:33:53 > 0:33:56But it doesn't smell damp and it's certainly a good-sized space.
0:33:56 > 0:34:00Open-plan through to the back of the property,
0:34:00 > 0:34:03where you've got this other living area.
0:34:03 > 0:34:04Now, I say "living area"...
0:34:05 > 0:34:11But what's becoming apparent is that this, in its most recent guise,
0:34:11 > 0:34:12wasn't actually used as a house.
0:34:12 > 0:34:15Strange things like you've got the bars on the windows,
0:34:15 > 0:34:19you've got a relatively small and fairly utilitarian kitchen.
0:34:19 > 0:34:23And through here a strange, little ante area,
0:34:23 > 0:34:27with a downstairs loo, which has been converted for disabled use.
0:34:27 > 0:34:32I mean, things like signs that you wouldn't have in a normal house.
0:34:32 > 0:34:35The fact is, it was actually an office.
0:34:35 > 0:34:37But in terms of the layout lots of space to play with.
0:34:37 > 0:34:40But things like this little area here, by the back door,
0:34:40 > 0:34:45doesn't particularly work, so a bit of rethinking required.
0:34:46 > 0:34:50OK, downstairs doesn't look like a family home, any more,
0:34:50 > 0:34:52but what about the rest of the property?
0:34:54 > 0:34:57So, upstairs and the feeling of space continues.
0:34:57 > 0:34:59Three good-sized bedrooms.
0:34:59 > 0:35:02A bathroom, looks like it's been knocked from a separate bathroom
0:35:02 > 0:35:04and loo into just one.
0:35:04 > 0:35:08Half-completed, but at least you're moving in the right direction.
0:35:08 > 0:35:12Bit of a box room there, and the rear bedroom here.
0:35:12 > 0:35:15Again, at some stage, these would have been built-in cupboards.
0:35:15 > 0:35:19These were probably used in recent times as, I don't know,
0:35:19 > 0:35:21maybe little offices or storage areas.
0:35:21 > 0:35:23Hence it does feel a bit utilitarian.
0:35:23 > 0:35:27Although it could definitely benefit from some new double glazing.
0:35:27 > 0:35:31Well, actually, any double glazing! Cos those are fairly old.
0:35:31 > 0:35:35But, again, what you've got is space to play with.
0:35:35 > 0:35:38There's a bit of work to do to the property.
0:35:38 > 0:35:41It needs upgrading, but it also needs a heart to change
0:35:41 > 0:35:46it from a cold, practical work space to a place to live in.
0:35:46 > 0:35:50Well, the house definitely benefits from its position on a corner plot.
0:35:50 > 0:35:52It's got this really nice-sized garden,
0:35:52 > 0:35:54which would make it a great family home.
0:35:54 > 0:35:55But, before it becomes that,
0:35:55 > 0:35:58you have to apply for planning permission.
0:35:58 > 0:36:02Not for the work that's required, but for change of use.
0:36:02 > 0:36:05In its most recent guise, it was offices,
0:36:05 > 0:36:08and, although clearly it was a house in the past,
0:36:08 > 0:36:12currently, planning regulations are that it's an office,
0:36:12 > 0:36:14so you've got to apply to change it back to being a residence.
0:36:14 > 0:36:17Now, any planning officer, I think, would look upon that
0:36:17 > 0:36:20application favourably, but it's still something you've got to do.
0:36:22 > 0:36:26So this family house, sorry, former offices,
0:36:26 > 0:36:29after all it's not a home until the paperwork is stamped,
0:36:29 > 0:36:32has a guide price of 40,000.
0:36:32 > 0:36:35Is there potential for a bit of profit in it, then?
0:36:35 > 0:36:38We asked a local property expert to come and have a look.
0:36:38 > 0:36:41Does he think there's much to be done to the property?
0:36:41 > 0:36:44No, once it's had change of use applied for and granted,
0:36:44 > 0:36:46back to a normal residence,
0:36:46 > 0:36:48because it used to be a drop-in centre,
0:36:48 > 0:36:50really it's just mostly cosmetic.
0:36:50 > 0:36:52Smarten up the kitchen and the bathroom,
0:36:52 > 0:36:54put some new carpets in and new paint, and it should be good to go.
0:36:54 > 0:36:57The only real change I would try and make to the property is
0:36:57 > 0:36:59perhaps make the kitchen slightly bigger,
0:36:59 > 0:37:01because it's a decent-sized house
0:37:01 > 0:37:03and it would warrant having a slightly bigger kitchen.
0:37:03 > 0:37:06So I would try and, you know, rejig the downstairs a little bit
0:37:06 > 0:37:08to try and make the kitchen a better size.
0:37:08 > 0:37:10So if the buyer made those changes
0:37:10 > 0:37:13and turned the place from an office to a family home,
0:37:13 > 0:37:15would it be worth it?
0:37:15 > 0:37:17If this property was renovated to a high standard,
0:37:17 > 0:37:22I should imagine it would go back on the market at around £90,000.
0:37:22 > 0:37:24So, at its guide price of 40,000,
0:37:24 > 0:37:29there's a lot of potential in this property. And what about rental?
0:37:29 > 0:37:31If this property was to come to the rental market,
0:37:31 > 0:37:33the area here is good for rental,
0:37:33 > 0:37:37I would expect it to achieve around £495 per calendar month.
0:37:39 > 0:37:42Well, a bit of work to be done to sort this place out,
0:37:42 > 0:37:45but it's a big house that would make a great family home.
0:37:45 > 0:37:47It's also in a strong rental area.
0:37:47 > 0:37:50A good buy-to-let opportunity, as well.
0:37:50 > 0:37:54Let's see who bought it when it went under the hammer.
0:37:54 > 0:37:56£40,000. Need a bid.
0:37:56 > 0:37:59At £40,000, 35, then.
0:37:59 > 0:38:0235 here, at £35,000. I'm away.
0:38:02 > 0:38:07At 35, 36, 37, 38, 39,
0:38:07 > 0:38:0939, I'm bid.
0:38:09 > 0:38:1340, 41 here, just beat you to it, sir, sorry, 42...
0:38:13 > 0:38:16With a packed house, there was plenty of bidding on this property
0:38:16 > 0:38:19and we rejoin it at £53,000.
0:38:20 > 0:38:2753, 54, 55, 55 here, 56,
0:38:27 > 0:38:2956 and a half, I'll take it.
0:38:30 > 0:38:3257, and a half?
0:38:32 > 0:38:34You're out.
0:38:34 > 0:38:36At £57,000, first and second time.
0:38:36 > 0:38:40If this gentleman gets it, he needs a round of applause,
0:38:40 > 0:38:42third and final time, are we done?
0:38:42 > 0:38:44Who's going to spoil the party?
0:38:44 > 0:38:46Nobody, all done, all out...
0:38:46 > 0:38:47wahey!
0:38:49 > 0:38:53That round of applause was because this was ninth time lucky
0:38:53 > 0:38:57for buyer Alex who hadn't managed to win eight previous lots.
0:38:57 > 0:38:59This time, he let the spotter,
0:38:59 > 0:39:03who is usually there to assist the auctioneer, wield the paddle.
0:39:03 > 0:39:06The lucky lady seemed to change the outcome
0:39:06 > 0:39:09with a bid of £57,000 winning the day.
0:39:09 > 0:39:13# Luck be a lady tonight... #
0:39:13 > 0:39:16However, with this house, I think he has come up trumps.
0:39:16 > 0:39:18He owns his own decorating business
0:39:18 > 0:39:21and has another role as a landlord with a growing portfolio
0:39:21 > 0:39:23of properties he rents out.
0:39:23 > 0:39:26- Alex, great to meet you.- And you. - Congratulations.
0:39:26 > 0:39:28Tell me why you wanted to buy this place.
0:39:28 > 0:39:31I've been buying houses for quite a period of time,
0:39:31 > 0:39:35renting them out, and I thought it was reasonably cheap,
0:39:35 > 0:39:38- although not massively so, and I had a tenant for it already.- Oh, wow.
0:39:38 > 0:39:39Yeah, before I bought it.
0:39:39 > 0:39:45- That's a great security blanket, isn't it?- Yeah.- Fantastic.
0:39:45 > 0:39:48Did they dictate the kind of house you bought and where or..?
0:39:48 > 0:39:53No, I've got tenants already in several properties.
0:39:53 > 0:39:56- I've also people on a waiting list, almost...- Right.
0:39:56 > 0:39:59..so I actually went to the auction to buy three houses
0:39:59 > 0:40:03- and ended up buying just this and a plot of land.- Right.
0:40:03 > 0:40:06So ideally they'd have had two more, so I've got more people waiting.
0:40:06 > 0:40:09Wow. It's a good, solid house. I really like the design, as well.
0:40:09 > 0:40:11What did you think when you first saw it?
0:40:11 > 0:40:14I'm familiar with the area and I'm familiar with the style of house,
0:40:14 > 0:40:18because I work as a decorator and I've decorated similar houses,
0:40:18 > 0:40:22although this has been knocked about, because it was used as an office.
0:40:22 > 0:40:25It needs a bit of rejigging, in my opinion, but that's maybe just me.
0:40:25 > 0:40:28OK, tell me what you're planning to do to it.
0:40:28 > 0:40:31Well, there's a great big gap that I'm stood in here,
0:40:31 > 0:40:32between the two rooms.
0:40:32 > 0:40:36That'll be going, there'll be a door where I'm stood.
0:40:36 > 0:40:38Oh, you don't want the open-plan feel?
0:40:38 > 0:40:41No, I'm not particularly keen.
0:40:41 > 0:40:45I was brought up in big houses and they tend to be a pain to heat...
0:40:45 > 0:40:47- Right.- ..so given it's freezing...
0:40:47 > 0:40:49It is the Lake District - it either rains or it's freezing.
0:40:49 > 0:40:52One or the other up here! And then through...
0:40:52 > 0:40:55The layout, to me, is a bit odd, you've got the hall
0:40:55 > 0:40:57and the back door,
0:40:57 > 0:41:00you've got kind of a wasted area with a disabled toilet down there
0:41:00 > 0:41:02and then a very small kitchen at the back
0:41:02 > 0:41:05which for a single man or whatever would be fine,
0:41:05 > 0:41:08but as a family house you'd really want a bigger kitchen,
0:41:08 > 0:41:10so that toilet will be disappearing
0:41:10 > 0:41:13- and that'll be all kitchen between there and...- Wow.
0:41:13 > 0:41:15So no downstairs loo, at all?
0:41:15 > 0:41:17- No.- So what about upstairs?
0:41:17 > 0:41:20Changing the layout up there or leaving pretty much as it is?
0:41:20 > 0:41:23No, everything's staying there. Just a good tidy up. New windows.
0:41:23 > 0:41:28- You mentioned you're a painter and decorator.- Allegedly, yeah.
0:41:28 > 0:41:29What do you mean, "allegedly"?
0:41:29 > 0:41:32I work with a guy who's been doing it for 45 years
0:41:32 > 0:41:35- and I've only been doing it about 12.- Right.
0:41:35 > 0:41:37So I kind of fell into it more
0:41:37 > 0:41:39and I work with him, but, of the two of us,
0:41:39 > 0:41:42he's far better qualified than I am.
0:41:42 > 0:41:44- What did you fall into it from? - Publican.- What?
0:41:44 > 0:41:47- I was a publican for six and a half years.- Wow.
0:41:47 > 0:41:52- Was that fun or hard work? - Both. It was entertaining.
0:41:52 > 0:41:54It was a good pub, but to be honest
0:41:54 > 0:41:58it's a lot easier living painting and decorating.
0:41:58 > 0:42:01So from publican to property and painting and decorating.
0:42:01 > 0:42:06Oh, and he also has busy summers working on the family sheep farm
0:42:06 > 0:42:07in the Scottish Borders.
0:42:07 > 0:42:10And he's also a qualified electrician,
0:42:10 > 0:42:14so how much of the work here will he be doing?
0:42:14 > 0:42:15I could do quite a bit of it.
0:42:15 > 0:42:19Obviously, all the decorating and electrical work I'll be doing.
0:42:19 > 0:42:21I can't do any gas work.
0:42:21 > 0:42:23Any plumbing, I'll be doing.
0:42:23 > 0:42:26Refitting in the kitchen, that'll be done by me.
0:42:26 > 0:42:29This wall is actually going. I'm getting a joiner to do that.
0:42:29 > 0:42:31Just purely because of the door going in the middle.
0:42:31 > 0:42:33I want it good and solid and secure.
0:42:33 > 0:42:37- So what's the budget?- About eight.
0:42:37 > 0:42:40- Right.- Any more than eight and I'll be unhappy.- Right.
0:42:40 > 0:42:44An experienced landlord like Alex will undoubtedly keep to his budget,
0:42:44 > 0:42:49especially since he doesn't think this house was a total bargain,
0:42:49 > 0:42:51having paid 17 grand over the guide.
0:42:51 > 0:42:53His aim is to get the property ready in six weeks so he can
0:42:53 > 0:42:57get his tenant in and for very good budgetary and practical reasons.
0:42:57 > 0:43:00Empty houses get vandalised and whatever.
0:43:00 > 0:43:02So, yeah, I want somebody in for the rent,
0:43:02 > 0:43:05but also I begrudge paying council tax on empty property,
0:43:05 > 0:43:10which you do these days, which seems crazy, but that's the way it is.
0:43:10 > 0:43:13- Well, listen, congratulations. - Thank you.- Good luck with it.
0:43:13 > 0:43:16- Thank you very much.- I look forward to seeing how you get on.
0:43:16 > 0:43:17Thank you very much, Cheers.
0:43:19 > 0:43:23Well, Alex might not have got quite the bargain he was hoping for
0:43:23 > 0:43:25with this place, but to have a tenant lined up
0:43:25 > 0:43:28before you buy the property is certainly the way to go and
0:43:28 > 0:43:31he's got some clear ideas of what he's going to do to sort it out.
0:43:31 > 0:43:34You can find out how he gets on later in the show.
0:43:38 > 0:43:41It's been a while now since we last visited those properties.
0:43:41 > 0:43:43Has there been any work done?
0:43:43 > 0:43:46Well, all sorts of problems can crop up,
0:43:46 > 0:43:49so what have our buyers had to cope with? Let's find out.
0:43:51 > 0:43:54It's back now to the beautiful coastal landscape
0:43:54 > 0:43:58of Northern Ireland and the hamlet of Drumavalley,
0:43:58 > 0:44:01where earlier this solid, three-bedroom, end-of-terrace house
0:44:01 > 0:44:07was bought at auction by married couple George and Paula for 36,000.
0:44:07 > 0:44:10George is a local beef farmer and along with Paula
0:44:10 > 0:44:14has over the last 25 years branched out into property developing.
0:44:14 > 0:44:16They now have themselves a nice, little rental portfolio
0:44:16 > 0:44:19and this house is the latest addition.
0:44:19 > 0:44:22With one of their properties already in Drumavalley,
0:44:22 > 0:44:24they know the area well
0:44:24 > 0:44:28and it's also fair to say that the town knows them well, too.
0:44:28 > 0:44:31So, George, would you know everybody in every house on every street?
0:44:31 > 0:44:35- Honestly.- Yes. Yes, I could take you to any house on this estate
0:44:35 > 0:44:39- and name the person by name.- Ah! - And they would name me by name.
0:44:39 > 0:44:42- And they would know you, Paula? - Yes, they would do, yes.
0:44:42 > 0:44:45With this close community spirit, it's hardly surprising
0:44:45 > 0:44:49that George had already visited this house a couple of years before.
0:44:49 > 0:44:51So he knew what to expect.
0:44:51 > 0:44:54Although he might have expected a kitchen and central heating!
0:44:54 > 0:44:57However, they were confident that with a month's turnaround
0:44:57 > 0:44:58and a five grand budget,
0:44:58 > 0:45:02they could make it a nice home for their tenant.
0:45:02 > 0:45:05So we kept them to their word and we returned one month later.
0:45:05 > 0:45:09Now, new fencing, a re-turfed front garden and a rear yard,
0:45:09 > 0:45:13also newly fenced-off, gives this place some much-needed privacy
0:45:13 > 0:45:15and kerb appeal.
0:45:15 > 0:45:18But have George and Paula made the inside just as appealing?
0:45:22 > 0:45:26I'd say! A great looking new kitchen has been fitted.
0:45:28 > 0:45:33While the tiled floor leads around to a modern, fresher living room.
0:45:42 > 0:45:46All this is a result of George and Paula's handiwork.
0:45:46 > 0:45:49In here, the biggest problem was levelling the old floor out.
0:45:49 > 0:45:53I had to take out the old floor and replace it with a new floor,
0:45:53 > 0:45:56levelling the floor, and, as you can see, put in a new fitted kitchen
0:45:56 > 0:46:02and a new hob and an oven, sink, skirting, painting and decorating.
0:46:02 > 0:46:06That's basically all that's been done in here.
0:46:08 > 0:46:11Up the re-carpeted stairs, the three bedrooms have all been overhauled
0:46:11 > 0:46:14with a lick of paint and new carpets.
0:46:14 > 0:46:16All straightforward and no fuss.
0:46:20 > 0:46:24The bathroom suite has been replaced and is still white.
0:46:24 > 0:46:27If you remember, Paula is in charge of the colour schemes
0:46:27 > 0:46:30and a nice job it is, too, Paula.
0:46:30 > 0:46:33In this room, we renewed the flooring,
0:46:33 > 0:46:35took out the old cupboards,
0:46:35 > 0:46:39replaced the fire, put up new curtains,
0:46:39 > 0:46:42new light fittings, reclaimed the old door,
0:46:42 > 0:46:46cos we liked the light coming in, because it gives it a brighter feel.
0:46:46 > 0:46:49And redecorated it.
0:46:49 > 0:46:51We're happy with this room.
0:46:52 > 0:46:55Indeed, the standard of finish is here very high.
0:46:55 > 0:46:59And it's part of George and Paula's approach to renovations -
0:46:59 > 0:47:03they do it right first time, so they won't have to do it again later.
0:47:03 > 0:47:06There were minor problems with the plumbing and the electrics,
0:47:06 > 0:47:08but everything here now has been certified
0:47:08 > 0:47:11and is functioning smoothly,
0:47:11 > 0:47:13including the newly installed heating system.
0:47:13 > 0:47:17Well, there was originally oil-fired central heating in this property,
0:47:17 > 0:47:19so we had to get in a new boiler,
0:47:19 > 0:47:21and the fact we had one from a previous job,
0:47:21 > 0:47:23which saved quite a bit of money.
0:47:23 > 0:47:26Obviously, the gas would be more suitable,
0:47:26 > 0:47:28but you don't have gas mains.
0:47:28 > 0:47:31Maybe the larger towns or cities would have it in Northern Ireland,
0:47:31 > 0:47:33but certainly not out in the country, we don't.
0:47:33 > 0:47:36So you've only got the one form of heating and that's oil.
0:47:36 > 0:47:38And just like that heating system,
0:47:38 > 0:47:42George and Paula's renovation process is a well-oiled machine.
0:47:42 > 0:47:45Well, obviously, it was organising,
0:47:45 > 0:47:49making sure that that one job follows directly after the other job,
0:47:49 > 0:47:53and we've had quite a few late nights, as well.
0:47:53 > 0:47:57Basically, that's how we managed to stick to our timescale.
0:47:57 > 0:47:59Apart from the electrics and plumbing,
0:47:59 > 0:48:01the couple did most of the work,
0:48:01 > 0:48:06more often than not, burning the midnight oil to get the house ready.
0:48:06 > 0:48:08But for George, there was still a farm to run.
0:48:08 > 0:48:11That left Paula to project manage the refurb
0:48:11 > 0:48:14and the stream of materials needed.
0:48:14 > 0:48:16But loaded with 25 years' experience,
0:48:16 > 0:48:19the couple know that to hit their schedules,
0:48:19 > 0:48:21organisation is key.
0:48:21 > 0:48:26We've been used to working together for quite some years now.
0:48:26 > 0:48:30It's good, the same scenario, so, er...
0:48:30 > 0:48:31We work all right together.
0:48:31 > 0:48:33When she does what she's told.
0:48:35 > 0:48:37Which is not very often.
0:48:39 > 0:48:43Experience and hard work have helped the couple finish in three weeks,
0:48:43 > 0:48:45a week earlier than planned,
0:48:45 > 0:48:48but was it enough to keep them within their budget?
0:48:49 > 0:48:53Originally, we thought £4,000, maybe £5,000,
0:48:53 > 0:48:56would have renovated the property,
0:48:56 > 0:49:00but I think maybe we were a bit over-optimistic about that,
0:49:00 > 0:49:03so, yes, we did go over budget.
0:49:03 > 0:49:07It finished up £7,200.
0:49:09 > 0:49:12Add that to their purchase price of 36,000
0:49:12 > 0:49:17and Paula and George have spent £43,200.
0:49:17 > 0:49:20Time to find out what two local property experts think of the house.
0:49:20 > 0:49:24We start with the agent who first saw it before the renovation.
0:49:24 > 0:49:27They've done a great job. It's been really transformed
0:49:27 > 0:49:30from the front, from the kerb appeal from the outside
0:49:30 > 0:49:32with the lawns turfed, the nice round top fence.
0:49:32 > 0:49:35Inside - absolutely fantastic,
0:49:35 > 0:49:38with all the wooden floors, lovely new kitchen,
0:49:38 > 0:49:40white bathroom suite and a nice sandstone fireplace.
0:49:40 > 0:49:42They've done a good job of it.
0:49:42 > 0:49:45It's an end terrace, so there's a limited amount that they could do,
0:49:45 > 0:49:47but everything's neat and tidy and it's ready for sale.
0:49:47 > 0:49:49I think the main items in the house have been changed -
0:49:49 > 0:49:51the fireplace, kitchen and bathrooms.
0:49:51 > 0:49:54They're all good and they would appeal to a wide range of people,
0:49:54 > 0:49:57both first-time buyers and investors.
0:49:57 > 0:50:00George and Paula aim to let the property, so for their investment
0:50:00 > 0:50:05of just over £43,000, what sort of rental income could they achieve?
0:50:05 > 0:50:09I would expect this property would fetch in the region of £430
0:50:09 > 0:50:11per calendar month.
0:50:11 > 0:50:14The rental value would be £450 per calendar month.
0:50:14 > 0:50:20We've already had the property let out at £440 per calendar month.
0:50:20 > 0:50:24We always intended to let it. We never intended to sell it.
0:50:24 > 0:50:29That rental income will give them a whopping annual yield of 12%,
0:50:29 > 0:50:31but if George and Paula change their minds,
0:50:31 > 0:50:34then the agents reckon they could get a resale figure
0:50:34 > 0:50:37from £58,000 to £60,000,
0:50:37 > 0:50:42giving them a profit of around 15,000-17,000 before fees and taxes.
0:50:42 > 0:50:45All in all, this has been a successful refurbishment,
0:50:45 > 0:50:48so will they be returning to the auctions?
0:50:48 > 0:50:51- Yes, we certainly will go to auction again.- Yes.
0:50:51 > 0:50:55Providing it's the right property at the right price.
0:50:55 > 0:50:56It certainly hasn't put us off, anyway.
0:51:01 > 0:51:02Back now to Carlisle,
0:51:02 > 0:51:05where earlier we met another buyer who wasn't put off at the auction,
0:51:05 > 0:51:07earning a round of applause
0:51:07 > 0:51:10when he finally bought the ninth lot he bid for.
0:51:10 > 0:51:12- AUCTIONEER:- Wahey!
0:51:15 > 0:51:17He managed to buy this ex-local authority semi
0:51:17 > 0:51:19for 57,000.
0:51:19 > 0:51:24The house had a bit of a municipal air, having been used as offices.
0:51:24 > 0:51:26Alex had plans to make it more homely.
0:51:26 > 0:51:29Well, there's a great, big gap that I'm stood in here
0:51:29 > 0:51:31between the two rooms.
0:51:31 > 0:51:34That'll be going. There'll be a door literally where I'm stood.
0:51:34 > 0:51:37- Oh, you don't want the open plan feel?- No.
0:51:37 > 0:51:39And through between...
0:51:39 > 0:51:40The layout to me is a bit odd.
0:51:40 > 0:51:42You've got the hall and at the back door
0:51:42 > 0:51:46you've got kind of a wasted area with a disabled toilet down there,
0:51:46 > 0:51:48and then a very small kitchen at the back
0:51:48 > 0:51:51which, for a single man or whatever, would be fine,
0:51:51 > 0:51:53but as a family house, you really want a bigger kitchen,
0:51:53 > 0:51:55so we'll be going through that toilet wall.
0:51:55 > 0:51:57That toilet will be disappearing
0:51:57 > 0:51:59and that'll be all kitchen between there and...
0:51:59 > 0:52:02- Wow!- Yeah.- But a massive kitchen?
0:52:02 > 0:52:04- Well, reasonable sized, yeah.- Yeah.
0:52:04 > 0:52:07With a budget of £8,000 and an optimistic timescale
0:52:07 > 0:52:11of six weeks to get the work done, how would Alex get on?
0:52:14 > 0:52:17We've returned two months later to see what's happened.
0:52:21 > 0:52:24Alex has done what he intended to
0:52:24 > 0:52:27by turning what was something of an open plan barn
0:52:27 > 0:52:29into a comfortable living room...
0:52:31 > 0:52:33..and a very useful dining room.
0:52:36 > 0:52:40The wall between the loo and hall has been removed,
0:52:40 > 0:52:44so a small kitchen becomes a large kitchen with plenty of cupboards
0:52:44 > 0:52:45and a door to the back garden.
0:52:47 > 0:52:49Right here there was a brick wall.
0:52:49 > 0:52:52It would originally have been the outer wall to the house,
0:52:52 > 0:52:56so when removed it, we had to put load-bearing beams in there
0:52:56 > 0:52:58to take the weight.
0:52:58 > 0:53:01And then new units, et cetera.
0:53:01 > 0:53:05Right here there was a strap wall, a stub wall with a sliding door on it
0:53:05 > 0:53:09for the disabled toilet, which would be in this area here, originally.
0:53:09 > 0:53:10Right there.
0:53:10 > 0:53:12Obviously, we've taken the toilet out, the wall out.
0:53:12 > 0:53:15It needs a bit more filling, cos it's not quite right yet,
0:53:15 > 0:53:16but we'll get there.
0:53:16 > 0:53:18Breakfast bar, new radiator there.
0:53:18 > 0:53:21And the other changes are all through here.
0:53:23 > 0:53:27And those changes were, pretty much, there was a large hole here,
0:53:27 > 0:53:29it was open plan -
0:53:29 > 0:53:32we have put a door in and a door frame, obviously,
0:53:32 > 0:53:34between the two rooms so we can block it off
0:53:34 > 0:53:36and if you've got children et cetera,
0:53:36 > 0:53:39or you like to keep your heating bills down.
0:53:39 > 0:53:42You've got two separate rooms. You've got a dining room, living room
0:53:42 > 0:53:44and we're pretty pleased with the way it's all turned out.
0:53:48 > 0:53:51And it's the same upstairs.
0:53:51 > 0:53:54Everything now looks much more shipshape.
0:54:05 > 0:54:08Alex hasn't done all this by himself.
0:54:08 > 0:54:10He has called on friends and family.
0:54:10 > 0:54:13These primroses are courtesy of his mum
0:54:13 > 0:54:16and another member of the family has leant a paw too.
0:54:19 > 0:54:21Oh, Pip's an absolute star.
0:54:21 > 0:54:23He's a lovely, lovely dog.
0:54:23 > 0:54:25He's about two years old.
0:54:25 > 0:54:28Had him since a pup and he comes everywhere with us,
0:54:28 > 0:54:30but in terms of helping, I'm not quite so sure
0:54:30 > 0:54:32he's so helpful on the jobs.
0:54:32 > 0:54:35He sometimes comes home different colours than he started off.
0:54:35 > 0:54:38But I wouldn't be without him, he's an absolute diamond.
0:54:39 > 0:54:41What about the cost?
0:54:41 > 0:54:44Alex thought £8,000 for the renovation,
0:54:44 > 0:54:45a couple of thousand for fees,
0:54:45 > 0:54:51and with the purchase price of 57,000, a grand total of £67,000.
0:54:52 > 0:54:55I've gone over that. It'll be 70,000 it'll cost me.
0:54:55 > 0:54:59Underestimated on the carpets, cos I thought, for some mad reason,
0:54:59 > 0:55:03they'd be cheaper and it's a bigger house than I estimated on that.
0:55:03 > 0:55:06Looked at downstairs, double-glazed, thought, "Oh, marvellous".
0:55:06 > 0:55:08Didn't look at the upstairs, which wasn't,
0:55:08 > 0:55:10so that was another 1,400-1,500 quid.
0:55:10 > 0:55:12But I had choices to make
0:55:12 > 0:55:16in terms of I could have put cheaper windows in, cheaper carpets down,
0:55:16 > 0:55:19and done less work, but realistically,
0:55:19 > 0:55:23I thought it was worth the extra to get a better house
0:55:23 > 0:55:26come the day if I ever were to sell it, or generally for the use of it.
0:55:26 > 0:55:29I think it was worth going that extra little bit.
0:55:30 > 0:55:33What about the timescale? Alex reckoned it would take six weeks.
0:55:35 > 0:55:36It took two months,
0:55:36 > 0:55:38so probably a couple of weeks over on the thing.
0:55:38 > 0:55:41One of the weeks was spent in Tenerife,
0:55:41 > 0:55:44which was entirely avoidable but very pleasurable.
0:55:45 > 0:55:47Holidays?! Whatever next?
0:55:47 > 0:55:49Anyway, with a total spend of 70,000,
0:55:49 > 0:55:51Alex will be eager to hear the valuations
0:55:51 > 0:55:53of two local estate agents.
0:55:56 > 0:55:59The renovation of the property's been thought through really well,
0:55:59 > 0:56:02the standard of finish is fantastic
0:56:02 > 0:56:06and I think this property will appeal to families
0:56:06 > 0:56:09due to the second reception room
0:56:09 > 0:56:12giving more living space downstairs
0:56:12 > 0:56:14and also the three bedrooms as well.
0:56:14 > 0:56:18The kitchen's a good size. It's nice and modern as well.
0:56:18 > 0:56:22The addition of double glazing to the property is of particular note,
0:56:22 > 0:56:25because with the property being a corner plot on a busy junction,
0:56:25 > 0:56:28that will help to quieten some of the road noise
0:56:28 > 0:56:31and it's also useful for insulation
0:56:31 > 0:56:34and people want to keep heating costs down.
0:56:34 > 0:56:37Both valued the property at £80,000,
0:56:37 > 0:56:40so that would mean a pre-tax profit of £10,000,
0:56:40 > 0:56:44but Alex is going to rent the house out.
0:56:44 > 0:56:48For the rental market, I value this property at £450 per calendar month.
0:56:48 > 0:56:50In terms of rental value for this property,
0:56:50 > 0:56:52I would suggest it's somewhere in the region
0:56:52 > 0:56:54of £400-£425 per calendar month.
0:56:56 > 0:56:59With a rental estimate from £400-£450,
0:56:59 > 0:57:02that would provide a rental yield of 7%-7.5%
0:57:04 > 0:57:06That's spot on. That's exactly what I thought.
0:57:06 > 0:57:10I thought 450 is probably the market value for it.
0:57:10 > 0:57:11I won't be letting it for 450,
0:57:11 > 0:57:13cos I'll try and get long-term tenants
0:57:13 > 0:57:17and I'll try and get people in that aren't going to wreck it or whatever,
0:57:17 > 0:57:19so that's absolutely spot on.
0:57:19 > 0:57:22- Alex makes it sound like a... - WHISPERING:- Sh! Not too loud!
0:57:22 > 0:57:24..a walk in the park.
0:57:24 > 0:57:28So what's next? Will they be taking a..."paws"?
0:57:28 > 0:57:32Well, next, really, I've let my farm work go way behind,
0:57:32 > 0:57:36so as of Wednesday, I will be out at a farm
0:57:36 > 0:57:38on the Scottish borders with Pip
0:57:38 > 0:57:41and he'll be running round like the free dog that he is
0:57:41 > 0:57:43and he'll be a very, very happy boy.
0:57:47 > 0:57:49Well, there's another set of property owners
0:57:49 > 0:57:52who've experienced the highs and lows of buying at auction.
0:57:52 > 0:57:56So make sure you join us next time for more Homes Under The Hammer.
0:57:56 > 0:57:58- We'll see you then.- Bye-bye.- Bye.