0:00:02 > 0:00:04Hello and welcome to the programme. Martin and I love property.
0:00:04 > 0:00:07In fact, we're fascinated by it and even though we think
0:00:07 > 0:00:10we know lots about it there are always new things to learn.
0:00:10 > 0:00:15There are. But securing a really good deal is not always easy.
0:00:15 > 0:00:18The best bargains, well, there's loads of competition.
0:00:18 > 0:00:21One way you can stack things in your favour, though,
0:00:21 > 0:00:23is by visiting your local property auction.
0:00:49 > 0:00:52Property auctions can be full of fun but also full of drama.
0:00:52 > 0:00:56Yes, you think you're just about to make the successful bid and then...
0:00:56 > 0:00:59Ah! Somebody comes in at the last minute and outbids you.
0:00:59 > 0:01:00But that's what it's all about.
0:01:00 > 0:01:04Let's see what and where things were bought on today's show.
0:01:06 > 0:01:10In Springburn, Glasgow, a beautiful flat but where's the kitchen?
0:01:11 > 0:01:13That's situated there.
0:01:13 > 0:01:14It's a no-no.
0:01:17 > 0:01:21In Hounslow, a huge property with hidden problems.
0:01:21 > 0:01:23This house is lovely!
0:01:23 > 0:01:25Oh, dear!
0:01:26 > 0:01:30And in Tipton, a good bungalow, a really low guide price
0:01:30 > 0:01:32except, yep, you guessed it!
0:01:32 > 0:01:34How bad could it be?
0:01:34 > 0:01:35Ah. Right.
0:01:37 > 0:01:39All these properties were bought at auction
0:01:39 > 0:01:42and we'll find out who got them and how much they paid
0:01:42 > 0:01:44when these homes went under the hammer.
0:01:44 > 0:01:46Two, three...
0:01:52 > 0:01:57This is Springburn, an area three miles from Glasgow city centre.
0:01:57 > 0:02:02This area had a real industrial heyday when the St Rollox works,
0:02:02 > 0:02:06established in the 1850s, had a quarter of the global trade
0:02:06 > 0:02:09in steam train locomotive manufacture.
0:02:09 > 0:02:13And there are still remnants of Springburn's glory days.
0:02:15 > 0:02:19Built in 1900, the Winter Gardens behind me here
0:02:19 > 0:02:23was a Victorian glasshouse which really symbolised
0:02:23 > 0:02:26the last vestiges of industrial power.
0:02:26 > 0:02:28And, also, philanthropic spirit
0:02:28 > 0:02:32which existed in this part of Springburn and the good news is
0:02:32 > 0:02:35it looks like they're saved.
0:02:38 > 0:02:42That's thanks to a campaign by local people who have formed a trust
0:02:42 > 0:02:44and who, with the council's help,
0:02:44 > 0:02:47hope to redevelop this fantastic structure.
0:02:51 > 0:02:53Well, just a stone's throw from the park
0:02:53 > 0:02:57and the Winter Gardens is the property I'm here to see.
0:02:57 > 0:03:02It's a flat in this pretty dramatic-looking building.
0:03:02 > 0:03:04Beautiful local sandstone.
0:03:04 > 0:03:06Guide price was £50,000 to £70,000 quid.
0:03:06 > 0:03:08Let's take a look.
0:03:10 > 0:03:14This two-storey block is a little unusual in that the normal
0:03:14 > 0:03:19sandstone flat in Glasgow is a tenement with three or four floors.
0:03:20 > 0:03:24Quite a traditional entrance with these stone stairs.
0:03:24 > 0:03:28The close, as the shared entrance is called in Scotland,
0:03:28 > 0:03:31looks well-maintained which is also another good point.
0:03:31 > 0:03:35And don't you love those wrought iron banisters?
0:03:36 > 0:03:39Love the height of these doors!
0:03:39 > 0:03:41Absolutely amazing!
0:03:41 > 0:03:45And it looks like the ones in the flat itself are like that, as well.
0:03:45 > 0:03:46Not quite as high.
0:03:46 > 0:03:50It's a plus point, it really gives a great first impression.
0:03:50 > 0:03:54The only negative is trying to get new ones of these
0:03:54 > 0:03:56is going to be an absolute...
0:03:57 > 0:03:58Well, it's going to be a search.
0:03:58 > 0:04:00HE CHUCKLES
0:04:00 > 0:04:03So, yeah. Strip these ones back, they would look beautiful anyway.
0:04:03 > 0:04:06But, basically, this big, large central area
0:04:06 > 0:04:09off which all the rooms are situated.
0:04:09 > 0:04:13Three bedrooms, good-sized one there with very high windows.
0:04:13 > 0:04:16We like that. A massive bedroom there, that's good.
0:04:16 > 0:04:18Bathroom, we'll come back to that in a second.
0:04:18 > 0:04:21Huge room there. I guess that's your living room.
0:04:21 > 0:04:24One, two, three and four... Yeah, that's your living room.
0:04:24 > 0:04:28And, then, through here where it all starts to go a bit strange
0:04:28 > 0:04:31cos you might have noticed the one thing I haven't mentioned so far
0:04:31 > 0:04:33is a kitchen.
0:04:33 > 0:04:36Now, that's because that's situated there.
0:04:37 > 0:04:41When the rest of the house/flat is so beautifully proportioned.
0:04:41 > 0:04:45I say house, you see, it's as big as a house, isn't it?
0:04:45 > 0:04:47When the rest of the flat is
0:04:47 > 0:04:50so beautifully proportioned, that kitchen just doesn't work.
0:04:50 > 0:04:54And the fact that, I guess at the moment, it's situated
0:04:54 > 0:04:56off this bedroom, it's a no-no.
0:04:58 > 0:05:01Now, there have been plenty of dodgy en-suite bathrooms
0:05:01 > 0:05:04on Homes Under The Hammer but I think this could be
0:05:04 > 0:05:06our first en suite kitchen.
0:05:08 > 0:05:10# Why did you do it?
0:05:10 > 0:05:12# Why did you do that thing to me? #
0:05:14 > 0:05:17At least there is lots of room to remedy the problem, including
0:05:17 > 0:05:21several large cupboards that could be converted into a kitchen.
0:05:24 > 0:05:27Or another option could be turning this bedroom
0:05:27 > 0:05:30into a kitchen/dining/living space.
0:05:33 > 0:05:36So, there's so much about this flat I love
0:05:36 > 0:05:40and then the bathroom, which I've come back to, is just horrible!
0:05:40 > 0:05:44It's thin, it's claustrophobic, it just doesn't work.
0:05:44 > 0:05:48Now, these are not stud partition walls. It's all pretty solid.
0:05:48 > 0:05:51So, playing around with the internal layout
0:05:51 > 0:05:53is going to take a bit of effort.
0:05:53 > 0:05:55You're also probably going to have to apply for
0:05:55 > 0:05:57some kind of permission to do that.
0:05:57 > 0:06:00But something's got to be done. Maybe, I don't know,
0:06:00 > 0:06:04putting the bathroom in one of the bedrooms, making it an en suite.
0:06:04 > 0:06:06Maybe moving that kitchen into one of the bedrooms,
0:06:06 > 0:06:09jiggling things around. You need to sit down with a piece of paper
0:06:09 > 0:06:12and maybe even make little models, play around with it
0:06:12 > 0:06:15and see what's going to work because, in principle,
0:06:15 > 0:06:19it's an amazing flat, it just needs that little something
0:06:19 > 0:06:21to make it absolutely perfect.
0:06:21 > 0:06:23# I've really got to use
0:06:25 > 0:06:28# My imagination Yes, I am. #
0:06:29 > 0:06:33Of course, moving kitchens and bathrooms about doesn't come cheap.
0:06:33 > 0:06:35You'd have to make sure you don't spend more on the flat
0:06:35 > 0:06:39than it's worth. But I think once solutions are found,
0:06:39 > 0:06:42this could be a nice family home.
0:06:42 > 0:06:45Especially since out the back there is a sizeable communal garden
0:06:45 > 0:06:48which is clearly very well looked after.
0:06:51 > 0:06:55For a guide price of £50,000 to £70,000 this property,
0:06:55 > 0:06:58whilst it has its issues, ticks lots of boxes.
0:06:58 > 0:07:01But what does a local property expert make of it?
0:07:02 > 0:07:04There's two options.
0:07:04 > 0:07:09You could either leave it a similar layout and create the back room
0:07:09 > 0:07:12and make it into a dining/kitchen, a fabulous dining/kitchen.
0:07:12 > 0:07:14So that would then give you
0:07:14 > 0:07:17the accommodation of a lounge to the front, two bedrooms,
0:07:17 > 0:07:20double bedrooms, fabulous big dining/kitchen and a bathroom.
0:07:20 > 0:07:22Or you could do the second option,
0:07:22 > 0:07:25to change the back room into a bedroom
0:07:25 > 0:07:28and create an internal kitchen and maybe have an en suite to the rear.
0:07:30 > 0:07:32Great ideas, but which would she recommend
0:07:32 > 0:07:34and what could be the valuation?
0:07:34 > 0:07:37Two-bedroom dining/kitchen would be the preferred.
0:07:37 > 0:07:40I do believe that that would be the more saleable option
0:07:40 > 0:07:42because that would be more desirable
0:07:42 > 0:07:45and I would value that in the region of £100,000.
0:07:45 > 0:07:47And how about rentals?
0:07:48 > 0:07:51The two-bed dining/kitchen option, I think it would fetch
0:07:51 > 0:07:56in the region of £550 to £595 per calendar month.
0:07:56 > 0:08:00I see, typically, professional young people that work
0:08:00 > 0:08:04in Glasgow city centre living in a property just like this.
0:08:04 > 0:08:05Good one to go for.
0:08:05 > 0:08:09Let's see what happened when it went under the hammer.
0:08:09 > 0:08:11Guide on this is £50,000 to £70,000.
0:08:11 > 0:08:14We've all seen it in the catalogue.
0:08:14 > 0:08:18Who's here to bid on this? 60 to start, then. At £60,000.
0:08:19 > 0:08:2155, then.
0:08:21 > 0:08:2450? Need a bid, can't sell it I'll move on.
0:08:24 > 0:08:26At 50,000, 50 here.
0:08:26 > 0:08:2851, 52,
0:08:28 > 0:08:3053, 54,
0:08:30 > 0:08:3255, 56,
0:08:32 > 0:08:3457, 58.
0:08:34 > 0:08:3558 I'm bid.
0:08:35 > 0:08:3659, 60.
0:08:38 > 0:08:40At 60 I'm bid. One, two...
0:08:42 > 0:08:45With you, sir, seated in the middle at £61,000.
0:08:45 > 0:08:49Back in at 62. 63 may I see? And four, madam?
0:08:51 > 0:08:53Shake of the head at four. With you, sir, at 63.
0:08:53 > 0:08:55I'll take a half if it helps.
0:08:55 > 0:08:57With you, sir, at 63.
0:08:57 > 0:08:59First time, are you sure, you don't look it?
0:09:01 > 0:09:03Second time at 63, are we done?
0:09:03 > 0:09:08With you, then, sir, in the middle at £63,000, all-out.
0:09:08 > 0:09:09GAVEL BANGS
0:09:09 > 0:09:10Well done, sir.
0:09:10 > 0:09:12Can I have your paddle number, please? 302.
0:09:15 > 0:09:20After a hard-fought battle, the successful bid of £63,000
0:09:20 > 0:09:22went to Tom and his wife, Leslie.
0:09:22 > 0:09:24I met them back at this three,
0:09:24 > 0:09:28or should that be two-bedroom flat to find out what they had planned.
0:09:30 > 0:09:34- Leslie, Tom, good to meet you both. - Hi.- Hi.- Congratulations.
0:09:34 > 0:09:35BOTH: Thank you.
0:09:35 > 0:09:38Nice flat. Tell me why you wanted to buy it.
0:09:38 > 0:09:41It's getting to the stage now of, basically, what we're looking for,
0:09:41 > 0:09:45an investment for pensions and for the future.
0:09:45 > 0:09:50And, obviously, this cropped up. So decided to take a chance.
0:09:50 > 0:09:54Right, lots of properties crop up though, so why this one?
0:09:54 > 0:09:58Been working away from home up until very recently
0:09:58 > 0:10:02and now I'm basically back based in Glasgow I've started looking
0:10:02 > 0:10:05- and this was the third one I actually looked at.- Right.
0:10:05 > 0:10:08- And the first one I actually went to bid for at auction.- Great.
0:10:08 > 0:10:12- And what did you like about it? - Just very unusual, very big.
0:10:13 > 0:10:16It's not a normal tenement building.
0:10:16 > 0:10:19And I think it would make a really good home for someone.
0:10:19 > 0:10:22And what are your thoughts?
0:10:22 > 0:10:25I really like it. I like old tenement properties.
0:10:25 > 0:10:28Obviously there's a lot of work to be done on it
0:10:28 > 0:10:30- but I think there's a lot you can do with it.- Right.
0:10:30 > 0:10:33So, tell me about the possibilities.
0:10:33 > 0:10:36Well, just now there's only a very small kitchen out the back
0:10:36 > 0:10:39either through a bedroom or a dining room.
0:10:39 > 0:10:44So it can either be made into a kitchen/diner, which would take away
0:10:44 > 0:10:48a larger bedroom. So I'm thinking of either moving the kitchen
0:10:48 > 0:10:51and putting it in, there's a big large cupboard in the hall
0:10:51 > 0:10:55and there's another cupboard in the room, knock through the wall,
0:10:55 > 0:10:58- make that a kitchen. - Wow. From two cupboards?- Yes.
0:10:58 > 0:11:03If I can get permission to get the window out onto the gable end.
0:11:03 > 0:11:07If not, I'd maybe look at putting a skylight in.
0:11:07 > 0:11:09Or the other alternative
0:11:09 > 0:11:13is use the small third bedroom as a kitchen...
0:11:13 > 0:11:16which should then leave you with two large bedrooms
0:11:16 > 0:11:19and make it into two bathrooms.
0:11:19 > 0:11:21So, what have you bought it for?
0:11:21 > 0:11:24Have you bought it to rent out, sell on, what's the plan?
0:11:24 > 0:11:29- I don't think we've decided yet, have we?- No. Probably rental.
0:11:29 > 0:11:32- Do you know what you might achieve?- No.
0:11:32 > 0:11:35# And soon you will find that there comes a time
0:11:35 > 0:11:36# For making your mind up! #
0:11:38 > 0:11:42OK, so Tom and Leslie have preliminary plans
0:11:42 > 0:11:45for the restructuring but these two renovation novices
0:11:45 > 0:11:49seem pretty unsure about whether to rent or sell.
0:11:49 > 0:11:53They'll need to put in some research to figure that one out.
0:11:53 > 0:11:56Hopefully, they'll be a little more definite about the budget.
0:11:56 > 0:12:00The budget, I reckon, will be between maybe 13 to 15,000.
0:12:00 > 0:12:02So, what's the timescale for the work?
0:12:02 > 0:12:06Obviously we've got other work commitments and suchlike,
0:12:06 > 0:12:10- but I would hope to do it within three to four months, maximum.- OK.
0:12:10 > 0:12:13- So, who's going to do the work? - Myself.- Really?
0:12:13 > 0:12:15- Are you qualified in things or are you handy?- Yeah.
0:12:15 > 0:12:19- Yeah, I'm an electrician. - Oh, useful.
0:12:19 > 0:12:23Yeah, I like to do a bit of dabbling and joiner work and suchlike.
0:12:23 > 0:12:26I've got other members of family, and suchlike,
0:12:26 > 0:12:29and my wife's a very good painter.
0:12:29 > 0:12:32- And since these are very big rooms there's a lot of painting.- Wow.
0:12:32 > 0:12:34Is that right, you're going to be...?
0:12:34 > 0:12:37- Yeah, I'll be doing a lot of painting.- Right.
0:12:37 > 0:12:42And in terms of future projects, is this number one of many, or?
0:12:42 > 0:12:46I don't know, we'll see how we get on with this one. And...
0:12:46 > 0:12:48Maybe.
0:12:48 > 0:12:51Listen, congratulations. Good luck with it.
0:12:51 > 0:12:54- Look forward to seeing how you get on.- Thank you very much.
0:12:56 > 0:13:00So, a few decisions yet to be taken by Tom and Leslie.
0:13:00 > 0:13:02And it's all going to come down to what
0:13:02 > 0:13:05they plan to do with the property in the end
0:13:05 > 0:13:09and whether there is demand for whatever that decision is.
0:13:09 > 0:13:13You can find out what happens later it in the show.
0:13:20 > 0:13:24Hounslow in west London is often seen as a cheaper alternative
0:13:24 > 0:13:27to its wealthy neighbours like Twickenham and Richmond.
0:13:27 > 0:13:31But it's also the home town of pop royalty, Phil Collins.
0:13:31 > 0:13:35And with property prices on the way up here, will today's lot
0:13:35 > 0:13:37be another day in paradise?
0:13:37 > 0:13:40Will we find great property against all odds?
0:13:40 > 0:13:42Let's take a look at me now!
0:13:44 > 0:13:47When a property is described as substantial,
0:13:47 > 0:13:51it's fairly safe to say you're going to have something pretty sizeable
0:13:51 > 0:13:54on your hands and this rather attractive semi
0:13:54 > 0:13:56certainly stands out. I mean look!
0:13:56 > 0:14:00That is an attractive house. It's got stained glass, little portico.
0:14:00 > 0:14:04Now the guide price was £440,000 and it's three floors.
0:14:04 > 0:14:08They're currently arranged as two flats. Will it be two for one
0:14:08 > 0:14:12or double the trouble? I'm going to head in and find out.
0:14:16 > 0:14:20Stepping into this hallway, I am delighted to say, so far so good
0:14:20 > 0:14:22and I've only got in the front door.
0:14:22 > 0:14:26But it really is quite lovely. I mean look at the stained glass,
0:14:26 > 0:14:29as I said. And there's character here because you've got these
0:14:29 > 0:14:32wonderful corbels. It starts off in this flat, goes through
0:14:32 > 0:14:36the ugly partition wall into the upper floor flat, the other side.
0:14:36 > 0:14:41And standing here, it's quite magnificent to see all of it.
0:14:41 > 0:14:45Really lovely ceiling. Bedroom down here, which is a great space.
0:14:45 > 0:14:49Nice doors in there. Really beautiful. It just feels light
0:14:49 > 0:14:52and airy, this property. Another bedroom here.
0:14:52 > 0:14:56Into a really spacious lounge. Not keen on these doors. Flat.
0:14:56 > 0:15:00Look, there's no panelling, no detailing. Really ugly.
0:15:00 > 0:15:03And talking of doors, look, you only need to look over here.
0:15:03 > 0:15:06Let's get rid of this ugly, corrugated...
0:15:06 > 0:15:08- SHE GRUNTS - ..plastic!
0:15:08 > 0:15:10Look at that!
0:15:10 > 0:15:13I mean, there's a whole set of them. Look, there and here. Wow.
0:15:13 > 0:15:16I'm not so sure about the conservatory out there,
0:15:16 > 0:15:18that could do with coming down and being replaced.
0:15:18 > 0:15:20You've got high ceilings, cornicing.
0:15:20 > 0:15:24Sadly, there's no ceiling rose, but there's a lot going on.
0:15:24 > 0:15:27My imagination's going a bit wild with this place.
0:15:27 > 0:15:29I really like it.
0:15:29 > 0:15:31# That's the way, uh-huh, uh-huh
0:15:31 > 0:15:34# I like it, uh-huh, uh-huh... #
0:15:34 > 0:15:36Oh, yes, and what's not like?
0:15:36 > 0:15:39Fantastic original features which, as you know, I love,
0:15:39 > 0:15:42beautifully detailed doors and plenty of space as well.
0:15:42 > 0:15:45From the lounge, you'll find a good-sized kitchen
0:15:45 > 0:15:48where the appliances might need updating, but the units...
0:15:48 > 0:15:50Well, they definitely do.
0:15:50 > 0:15:54And off the kitchen is a bathroom which will need upgrading as well.
0:15:54 > 0:15:57But everything is in the right place for renovation.
0:16:00 > 0:16:03The upstairs flat is across two floors.
0:16:03 > 0:16:05There's a handy box room
0:16:05 > 0:16:08and two fairly good size bedrooms with hand basins.
0:16:08 > 0:16:12But there's also a decent bathroom and the lounge...
0:16:12 > 0:16:15Well, it's pretty spacious, too.
0:16:15 > 0:16:17This house is lovely.
0:16:17 > 0:16:20The proportions up here are fantastic.
0:16:20 > 0:16:22What an amazing kitchen-diner.
0:16:22 > 0:16:24I could really imagine myself eating in here.
0:16:24 > 0:16:27You've got character, lovely fireplace, cornicing.
0:16:27 > 0:16:30What's this? Little cupboard...
0:16:30 > 0:16:31Oh, dear!
0:16:31 > 0:16:35That is a crack that goes all the way up there
0:16:35 > 0:16:38and all the way along there.
0:16:38 > 0:16:41That's something that whoever takes this property on
0:16:41 > 0:16:44needs to get checked out. They'd need to have a survey.
0:16:46 > 0:16:48Yeah, leaving that aside for the moment,
0:16:48 > 0:16:51there's one more flight of stairs and two more bedrooms.
0:16:51 > 0:16:54Again, there's some charming features.
0:16:54 > 0:16:56This upper flat is simply huge.
0:16:56 > 0:17:01And it seems like a lot of property for that guide price of 440,000.
0:17:02 > 0:17:05But will the outside be as good?
0:17:09 > 0:17:13Outside, bit disappointing, isn't it? Because this is the back garden.
0:17:13 > 0:17:16It's disappointing because, in the past, some of this garden
0:17:16 > 0:17:21was actually sold off by a previous owner for a development.
0:17:21 > 0:17:24Now, I've said it before and I will say it again,
0:17:24 > 0:17:28any outside space is a bonus in London, but what's not a bonus?
0:17:28 > 0:17:30Airplane noise!
0:17:30 > 0:17:35# Next plane to London Leaving on runway number five... #
0:17:35 > 0:17:39Being right in the flight path can really put some buyers off,
0:17:39 > 0:17:42but thankfully, the path does change during the day,
0:17:42 > 0:17:44giving you some much needed peace.
0:17:44 > 0:17:47But cleared for landing now is a local estate agent.
0:17:47 > 0:17:51What would he do with the property to get the best value out of it?
0:17:53 > 0:17:56I would try to keep the two flats on the ground floor
0:17:56 > 0:17:59and the first floor and try to introduce a third flat in the loft.
0:17:59 > 0:18:02If I was to create a flat on the second floor,
0:18:02 > 0:18:05I would try to get a planning permission for a two-bedroom flat
0:18:05 > 0:18:07with a dormer extension.
0:18:07 > 0:18:10Otherwise, we would like to keep it as a one-bedroom flat.
0:18:10 > 0:18:13The agent thinks there is potential for three flats.
0:18:13 > 0:18:17Now, what kind of sales figures could they achieved?
0:18:19 > 0:18:22Once this property has been refurbished,
0:18:22 > 0:18:26I would value it somewhere between £280,000 to £300,000
0:18:26 > 0:18:28for the ground floor two-bedroom flat
0:18:28 > 0:18:30and the first floor two-bedroom flat.
0:18:30 > 0:18:33And depending on the conversion upstairs,
0:18:33 > 0:18:34if it was a one-bedroom flat,
0:18:34 > 0:18:38I would value it somewhere between £180,000 and £200,000
0:18:38 > 0:18:41and a two-bedroom flat approximately £250,000.
0:18:42 > 0:18:44At those top valuations,
0:18:44 > 0:18:47you could be looking at £800,000 worth of property.
0:18:47 > 0:18:51But Hounslow is also a strong rental area
0:18:51 > 0:18:54and the agent believes that, for all three flats,
0:18:54 > 0:18:58you could achieve a top rental of £3,850 per calendar month.
0:19:03 > 0:19:06Yes, there is work to be done here, but it's a big property
0:19:06 > 0:19:10in a popular rental spot and, well, I think you'd be off your trolley
0:19:10 > 0:19:14not to like this one...if you've got your earplugs with you, of course.
0:19:14 > 0:19:19Did this property take off in the auction room? Time to find out.
0:19:19 > 0:19:20A substantial building, this.
0:19:20 > 0:19:23Details as you see them in your catalogues.
0:19:23 > 0:19:24What shall we say for it?
0:19:24 > 0:19:26It's got to be about 450 to start, I'm sure.
0:19:26 > 0:19:29I am, thank you, 450 is here.
0:19:29 > 0:19:30455, somebody?
0:19:30 > 0:19:34455. 460. 465. 470?
0:19:36 > 0:19:38470, 475, 480?
0:19:39 > 0:19:43480, 485, 490?
0:19:43 > 0:19:46495, 495, then with you on my right.
0:19:46 > 0:19:48500 anywhere else?
0:19:48 > 0:19:51500, he was stood first.
0:19:51 > 0:19:54Bidding was locked between three potential buyers
0:19:54 > 0:19:57who could not be separated.
0:19:57 > 0:20:01We rejoin the bidding at £550,000.
0:20:01 > 0:20:04£550,000 is here.
0:20:04 > 0:20:06555, if you're quick.
0:20:08 > 0:20:10Otherwise selling here at 550.
0:20:10 > 0:20:11For the first.
0:20:11 > 0:20:14550 for the second.
0:20:14 > 0:20:16Third, final time - 555.
0:20:16 > 0:20:20560. 565?
0:20:20 > 0:20:24560, once, twice, third and final - 565.
0:20:24 > 0:20:26570? 575.
0:20:26 > 0:20:29570,000, once, twice.
0:20:29 > 0:20:31Third... 575.
0:20:31 > 0:20:34580? 580. 585?
0:20:34 > 0:20:39580 here once, twice, third, final time.
0:20:39 > 0:20:43Thank you. Now it is yours at £580,000. Well done.
0:20:43 > 0:20:45Wait a minute. I know that face!
0:20:45 > 0:20:49It's Daniel, who we last saw buying and renovating
0:20:49 > 0:20:52a dangerously derelict property in West Ham.
0:20:52 > 0:20:55And he had a little help from his friends.
0:20:55 > 0:20:59# Rover, Rover, let me in
0:20:59 > 0:21:01# You're my best friend. #
0:21:06 > 0:21:08No pooches in sight today.
0:21:08 > 0:21:11But Daniel might have something to get his teeth into here,
0:21:11 > 0:21:14having paid £580,000 at auction.
0:21:14 > 0:21:19- Daniel, it's wonderful to see you again.- Nice to see you again, Lucy.
0:21:19 > 0:21:21Was it three years ago I saw you?
0:21:21 > 0:21:24It was three years ago that we did this same process
0:21:24 > 0:21:26with a property I had an West Ham.
0:21:26 > 0:21:30Since we last saw you, I've bought five properties
0:21:30 > 0:21:33and what I've started doing is buy them in this area.
0:21:33 > 0:21:37I'm from Hounslow, I live in Osterley and so it's better buying here,
0:21:37 > 0:21:39keeping an eye on the properties.
0:21:39 > 0:21:41Wow. Let's talk about the house
0:21:41 > 0:21:44and let's talk about what you're going to do with this property.
0:21:44 > 0:21:47The ground floor, we are going to put into a three-bedroom.
0:21:47 > 0:21:50I'm going to put an extension out to the rear of the property.
0:21:50 > 0:21:53OK, so you want an extra bedroom and an extension down here.
0:21:53 > 0:21:55- And an extension.- So let's go up to the next level,
0:21:55 > 0:21:59which is currently a rather spacious one-bedroom flat.
0:21:59 > 0:22:02On that one-bedroom, we hope to do interior movements to it
0:22:02 > 0:22:05and we're going to put it into a two-bedroom apartment.
0:22:05 > 0:22:08A separate apartment from the first floor.
0:22:08 > 0:22:12To really shake it up, it's the interior, lovely bathroom.
0:22:12 > 0:22:17I saw the possibility that we could look at the very top floor
0:22:17 > 0:22:21and the potential is to put in a dormer to the rear of the property.
0:22:21 > 0:22:26We would hope to put in planning for a two-bedroom lovely property
0:22:26 > 0:22:28up there, lovely kitchen, looking out onto the...
0:22:28 > 0:22:30lovely Hounslow, I suppose.
0:22:30 > 0:22:33- So it's all looking lovely. - It's all looking lovely.
0:22:33 > 0:22:35We hope all that goes through.
0:22:35 > 0:22:37# You are my lovely one... #
0:22:37 > 0:22:42So three flats in Daniel's plans and if planning doesn't get in the way,
0:22:42 > 0:22:46he thinks it will take six months and his budget is 100,000,
0:22:46 > 0:22:50with a handy £20,000 contingency to top up.
0:22:52 > 0:22:55So you are going big, big, big.
0:22:55 > 0:22:58More space, more bedrooms, bigger, better, bigger, better.
0:22:58 > 0:23:01After the impression you put on me after our last talk,
0:23:01 > 0:23:05- that's the way to go. - Don't go blaming me for that!
0:23:05 > 0:23:08It's such a lovely house. You don't want to destroy it.
0:23:08 > 0:23:11I want to give it character, a nice three-bedroom,
0:23:11 > 0:23:13bring up the whole standard, new kitchens and so on.
0:23:13 > 0:23:15I mean, you say give it character.
0:23:15 > 0:23:18The one thing I do love about this property is, of course,
0:23:18 > 0:23:21the beautiful sash windows. I love those back doors you've got.
0:23:21 > 0:23:23But be really honest with me, come on.
0:23:23 > 0:23:25Are you going to be keeping things like that?
0:23:25 > 0:23:27What I want to do is put into this property.
0:23:27 > 0:23:30It's not necessarily on saving money, it's putting character.
0:23:30 > 0:23:33And I think we're pretty close to Richmond today,
0:23:33 > 0:23:36hopefully we'll get a bit of Richmond factor over to Hounslow.
0:23:36 > 0:23:39Daniel... Daniel, I love your positivity.
0:23:39 > 0:23:41You're bringing the Richmond factor to Hounslow.
0:23:41 > 0:23:45I'm thinking you're bringing the airplane factor to Hounslow,
0:23:45 > 0:23:48because all I could hear for the first half-hour were
0:23:48 > 0:23:50the airplanes landing almost here.
0:23:50 > 0:23:54I've been living here for so many years and I don't notice them at all,
0:23:54 > 0:23:57except I did have my mother over recently from Dublin
0:23:57 > 0:24:01and she was up in the top room and about six o'clock in the morning,
0:24:01 > 0:24:04she woke up screaming. She thought the plane was going to land.
0:24:04 > 0:24:07Other than that, I never knew, never notice it myself.
0:24:07 > 0:24:09What I love up there is that amazing kitchen-diner.
0:24:09 > 0:24:12You've got a wonderful space up there.
0:24:12 > 0:24:14But what I don't love is that humongous crack
0:24:14 > 0:24:15that's in the corner of the room.
0:24:15 > 0:24:17It literally looks like the wall is coming away.
0:24:17 > 0:24:19What can you tell me about that?
0:24:19 > 0:24:22At one stage, you might have had a little bit of movement.
0:24:22 > 0:24:26Got the survey, looked at it myself, it's structurally...
0:24:26 > 0:24:29there's no problem on it. It was just the far corner.
0:24:29 > 0:24:31So it does have history of subsidence?
0:24:31 > 0:24:34It does have a history of a slight bit of movement.
0:24:34 > 0:24:35Subsidence!
0:24:35 > 0:24:38- Slight bit of movement! - Movement is subsidence!- Yeah.
0:24:38 > 0:24:41You said movement... You say to-MAH-to, I say to-MAY-to.
0:24:41 > 0:24:44I say subsidence, you said movement! Put it there.
0:24:44 > 0:24:47Listen, Daniel, it's been so brilliant meeting you.
0:24:47 > 0:24:50I'm sure our paths will definitely cross.
0:24:50 > 0:24:52Maybe in a few more years, who knows? But keep on buying.
0:24:52 > 0:24:55I'll be really looking forward to coming back to seeing it.
0:24:55 > 0:24:58Thank you very much. Thank you.
0:24:58 > 0:25:00It's always lovely for me to see
0:25:00 > 0:25:03old familiar faces who have been on the show before.
0:25:03 > 0:25:06And Daniel has got lots of exciting plans for this place,
0:25:06 > 0:25:09but I've got a sinking feeling the "movement",
0:25:09 > 0:25:13as Daniel likes to call it, could be more than he bargained for.
0:25:13 > 0:25:15Join me later on in the programme to see
0:25:15 > 0:25:18if he does bring the Richmond factor to Hounslow.
0:25:20 > 0:25:24Coming up, a bungalow with dizzying decor in Tipton.
0:25:24 > 0:25:25Whoa!
0:25:25 > 0:25:29- ECHOING:- Whoo-hoo-hoo!
0:25:31 > 0:25:33But in Hounslow,
0:25:33 > 0:25:36has Daniel's quality of finish finished off his budget?
0:25:36 > 0:25:40For the product to finish, you always find an extra bit of money.
0:25:46 > 0:25:49We return to Glasgow now and to the north of the city
0:25:49 > 0:25:52in the former industrial area of Springburn.
0:25:52 > 0:25:56The property I was here to see was this beautiful sandstone flat.
0:25:56 > 0:26:01Inside, huge rooms, high ceilings and delightful doors.
0:26:01 > 0:26:03What could go wrong?
0:26:04 > 0:26:08You might have noticed the one thing I haven't mentioned so far
0:26:08 > 0:26:09is a kitchen.
0:26:09 > 0:26:13That's because that's situated...there.
0:26:13 > 0:26:16When the rest of the flat is so beautifully proportioned,
0:26:16 > 0:26:20that just doesn't work. And the fact that I guess at the moment
0:26:20 > 0:26:22it's situated off this bedroom...
0:26:22 > 0:26:24it's a no, no.
0:26:24 > 0:26:28# No, no, no, no, baby No, no, no, no, you gotta try... #
0:26:31 > 0:26:35No, no-one wants a bedroom off the kitchen...
0:26:35 > 0:26:37Or was it meant to be a dining room?
0:26:37 > 0:26:39Well, the flat was described as a three-bedroom,
0:26:39 > 0:26:42one of which was a good-sized double.
0:26:42 > 0:26:44And one a rather narrow single.
0:26:44 > 0:26:46So would it be better as a two-bed
0:26:46 > 0:26:49and just forget about the en-suite kitchen?
0:26:49 > 0:26:51One to mull over.
0:26:51 > 0:26:54But while the kitchen configuration was bad,
0:26:54 > 0:26:56there was worse to come.
0:26:56 > 0:26:58The bathroom is just horrible.
0:26:58 > 0:27:02It's thin, it's claustrophobic, it just doesn't work.
0:27:02 > 0:27:04But something's got to be done.
0:27:04 > 0:27:07Maybe putting the bathroom in one of the bedrooms, making it an en suite.
0:27:07 > 0:27:10Maybe moving that kitchen into one of the bedrooms,
0:27:10 > 0:27:12jiggling things around.
0:27:12 > 0:27:14In principle, it's an amazing flat.
0:27:14 > 0:27:17It just needs that little something to make it absolutely perfect.
0:27:22 > 0:27:26And to make it a perfect pad were property apprentices
0:27:26 > 0:27:30Leslie and Tom, who paid £63,000 at auction.
0:27:30 > 0:27:33With a budget of £13,000 to £15,000
0:27:33 > 0:27:35and a timescale of three to four months,
0:27:35 > 0:27:38the couple weren't sure if they'd rent or sell the flat,
0:27:38 > 0:27:42but they were sure that they could do all the work themselves.
0:27:45 > 0:27:49- Are you qualified in things, or are you handy?- I'm an electrician.
0:27:49 > 0:27:51Oh, useful.
0:27:51 > 0:27:56And, yeah, I like to do a bit of dabbling in joiner work and suchlike.
0:27:56 > 0:27:59I've got other members of family in suchlike
0:27:59 > 0:28:01and my wife's a very good painter.
0:28:01 > 0:28:05And since these are very big rooms, there's a lot of painting.
0:28:06 > 0:28:09So when we returned six months later,
0:28:09 > 0:28:13had they turned a top floor flat into a top property?
0:28:39 > 0:28:42I am really impressed with the changes to this flat.
0:28:42 > 0:28:46And even though there are still some final touches to be added,
0:28:46 > 0:28:48the transformation is terrific.
0:28:48 > 0:28:51Unfortunately, Leslie couldn't come along to tell us
0:28:51 > 0:28:54about this first project of theirs,
0:28:54 > 0:28:57but how did Tom feel about it and what's been happening?
0:28:59 > 0:29:01Glad to be nearly at the finish line.
0:29:01 > 0:29:04We basically changed the layout.
0:29:04 > 0:29:07The kitchen moved so it was in the small extension.
0:29:07 > 0:29:11At the back, we decided to make that into an en suite
0:29:11 > 0:29:17and make the dining room into a double bedroom.
0:29:17 > 0:29:20The bedroom, dining room, whatever it was supposed to be
0:29:20 > 0:29:23that had the kitchen off of it, did not work at all,
0:29:23 > 0:29:28but it really does work as a good-sized double en-suite bedroom.
0:29:28 > 0:29:31Also an en suite gives you some flexibility
0:29:31 > 0:29:32if you're renting to sharers.
0:29:34 > 0:29:36And the large pink double bedroom?
0:29:36 > 0:29:40Well, it's still a good-sized double bedroom. It's just not pink.
0:29:40 > 0:29:44And what about the narrow third bedroom?
0:29:44 > 0:29:48Single bedroom we made into the kitchen.
0:29:48 > 0:29:54We altered the bathroom slightly, just to make it a bit more spacious.
0:29:54 > 0:29:57The space works much better as a galley kitchen.
0:29:57 > 0:30:01Maybe even a little table could be fitted in there.
0:30:01 > 0:30:03Anyway, it feels bright and modern,
0:30:03 > 0:30:06while the narrow, claustrophobic bathroom
0:30:06 > 0:30:08that I hated is now much better.
0:30:08 > 0:30:13With a reconfiguration, it now feels spacious and very user-friendly.
0:30:16 > 0:30:19The front living room, with this large bay window,
0:30:19 > 0:30:24is just the cherry on the cake in this fantastic flat.
0:30:24 > 0:30:27And they've done fantastically well with the budget, too,
0:30:27 > 0:30:30coming in at just over £12,000.
0:30:30 > 0:30:34Taking six months to complete due to other work commitments,
0:30:34 > 0:30:37did Tom manage to spend a lot of his working time here?
0:30:38 > 0:30:43We did do all of the work ourselves, apart from the plastering,
0:30:43 > 0:30:45just between family and friends.
0:30:45 > 0:30:47Pulled in a lot of favours.
0:30:48 > 0:30:52Have the couple made up their minds if they'll rent or sell?
0:30:53 > 0:30:56Obviously, because of the finish in the property,
0:30:56 > 0:30:59I could be persuaded to move into it myself.
0:31:01 > 0:31:03Before you start moving all your things in, Tom,
0:31:03 > 0:31:07let's ask two local estate agents what they think of the flat,
0:31:07 > 0:31:11starting with the agent who saw it the first time we visited.
0:31:13 > 0:31:18Fab. What a difference. A real turnaround in the last few weeks.
0:31:18 > 0:31:22I really like the idea of the en suite to the master bedroom,
0:31:22 > 0:31:26cos that's not the norm for your traditional build, so a great idea.
0:31:26 > 0:31:28That'll do them well.
0:31:28 > 0:31:31First impressions of the property, very nice.
0:31:31 > 0:31:33It's nice, bright, the rooms are big.
0:31:33 > 0:31:36It's been configured very well.
0:31:36 > 0:31:38Certainly a property I'd love to show my clients around.
0:31:38 > 0:31:43Bought for £63,000 at the auction,
0:31:43 > 0:31:46and costing £12,000 in renovation,
0:31:46 > 0:31:50Tom and Leslie's total spend here is £75,000.
0:31:50 > 0:31:56Time to find out which will be more profitable, renting or selling.
0:31:59 > 0:32:01If this property was to go onto the market,
0:32:01 > 0:32:04I reckon it would sell for £100,000.
0:32:04 > 0:32:06If it was to be rented out,
0:32:06 > 0:32:10I reckon they'd be looking to achieve £595 per calendar month.
0:32:10 > 0:32:16This property would sell for in the region of £105,000,
0:32:16 > 0:32:20or rental market, £650 per calendar month.
0:32:22 > 0:32:27Taking the top retail estimate of £105,000,
0:32:27 > 0:32:33Tom and Leslie could make a pre-tax profit of £30,000.
0:32:33 > 0:32:37But a top rental of £650 per calendar month would give them
0:32:37 > 0:32:41a healthy yield of 10.4%. Not bad.
0:32:41 > 0:32:45So what does Tom make of the valuations?
0:32:46 > 0:32:50It's roughly around about what I'd imagined.
0:32:50 > 0:32:54I know there's a ceiling on these properties, so, yeah, seems OK.
0:32:56 > 0:33:00I think he's slightly understating that. Better than OK, I'd say.
0:33:00 > 0:33:03- Any other advice for newbies? - Go for it.
0:33:03 > 0:33:07Just go in with your eyes wide open and do as best as you can.
0:33:07 > 0:33:10After watching the programme for years,
0:33:10 > 0:33:12decided to move on to having wee go at it.
0:33:12 > 0:33:14And we've done it.
0:33:18 > 0:33:21Now, from a Scottish town that was at the hub
0:33:21 > 0:33:24of the steam engine industry to one in the Midlands.
0:33:24 > 0:33:27Situated between Birmingham and Wolverhampton,
0:33:27 > 0:33:32Tipton was home to the world's first successful steam pumping engine.
0:33:32 > 0:33:35The town is also home to one of the Black Country's
0:33:35 > 0:33:37most striking buildings,
0:33:37 > 0:33:41funded by Victorian philanthropist Andrew Carnegie.
0:33:41 > 0:33:45The aptly named Carnegie Centre was the town's first library
0:33:45 > 0:33:47and opened in 1906.
0:33:47 > 0:33:50# How do I get to Carnegie Hall?
0:33:51 > 0:33:53# How do I get to Carnegie Hall?
0:33:53 > 0:33:55So, how do you get to Carnegie Hall?
0:33:55 > 0:33:59Well, I think it's three miles, sort of, that way.
0:33:59 > 0:34:01As opposed to the property I'm here to see,
0:34:01 > 0:34:04which is about 20 yards that way.
0:34:04 > 0:34:10It's a two-bedroom bungalow, guide price £39,000 to £44,000.
0:34:10 > 0:34:13It sounds all right. Let's take a look.
0:34:14 > 0:34:17Well, the front garden may need a little tidying up,
0:34:17 > 0:34:20but there is, by the look of it, relatively new double glazing.
0:34:20 > 0:34:23And a rare beast such as a bungalow,
0:34:23 > 0:34:27for what was a guide price of £39,000 to £44,000.
0:34:27 > 0:34:29# Too good to be true
0:34:31 > 0:34:33# Too good to be true... #
0:34:35 > 0:34:38I'm still thinking about that guide price.
0:34:38 > 0:34:40Really, really low.
0:34:40 > 0:34:42So, how bad can it be?
0:34:42 > 0:34:45It looks all right. Well, dated, but...
0:34:47 > 0:34:49Ah.
0:34:49 > 0:34:51- Right. - HE CHUCKLES
0:34:51 > 0:34:53That's not good.
0:34:53 > 0:34:55I'm treading very gingerly here,
0:34:55 > 0:35:01but this floor looks like it wouldn't take a lot to actually...
0:35:04 > 0:35:05Oh, my!
0:35:05 > 0:35:08..fall through. That is bad. Oh, wow, look at that!
0:35:08 > 0:35:11See those holes? That's wood worm.
0:35:11 > 0:35:14Those little devils have been munching away merrily here,
0:35:14 > 0:35:16haven't they? Look at that!
0:35:16 > 0:35:20Wow. The floorboards have gone, the joists have gone...
0:35:20 > 0:35:24I'm going to have to tread very carefully. How far have they spread?
0:35:24 > 0:35:28It also feels really damp. Damp, wood worm...
0:35:28 > 0:35:31This is a textbook of disaster, isn't it?
0:35:31 > 0:35:35Now, OK. OK, so you've got a front bedroom there...
0:35:35 > 0:35:37A living room there. More holes in the floor.
0:35:37 > 0:35:39Those little blighters have been chomping their way
0:35:39 > 0:35:42through the entire house. Kitchen...
0:35:42 > 0:35:44OK, that's there.
0:35:44 > 0:35:46HE LAUGHS
0:35:46 > 0:35:48Bathroom.
0:35:48 > 0:35:50I think that's pretty serviceable, I quite like that(!)
0:35:50 > 0:35:52Yes, toilet. Mm-mmm, lovely(!)
0:35:52 > 0:35:56And then through to... I guess this is your second bedroom.
0:35:56 > 0:35:58Whoa!
0:35:58 > 0:36:00- ECHOING:- Whoo-hoo-hoo!
0:36:02 > 0:36:04Love the wallpaper(!)
0:36:05 > 0:36:08That is definitely psychedelic.
0:36:08 > 0:36:10Looks like relatively new radiators.
0:36:10 > 0:36:14Really bad plumbing. But apart from that...
0:36:14 > 0:36:17I was going to say, "Apart from that, there's nothing else wrong."
0:36:17 > 0:36:19Apart from the crack.
0:36:19 > 0:36:20Let's just have a quick review.
0:36:20 > 0:36:22Really bad wood worm.
0:36:22 > 0:36:25Rotted it all the floorboards and the joists.
0:36:25 > 0:36:27Damp. Large crack...
0:36:27 > 0:36:30I get the guide price now.
0:36:30 > 0:36:32# Now I get it
0:36:32 > 0:36:34# Just switched on the light
0:36:34 > 0:36:38# What I saw made me turn around in fright. #
0:36:38 > 0:36:41Yep, this is a strip it all out
0:36:41 > 0:36:43and start again job.
0:36:43 > 0:36:47There's nothing worth keeping other than the walls and the windows,
0:36:47 > 0:36:50and even the relatively new radiators will need checking out,
0:36:50 > 0:36:54as will those cracks and damp.
0:36:54 > 0:36:57I'd definitely want a full structural survey here
0:36:57 > 0:36:59and then you might get a better understanding
0:36:59 > 0:37:01of what you're taking on.
0:37:04 > 0:37:07So, out of the door at the side of the property
0:37:07 > 0:37:09and through this little lean-to,
0:37:09 > 0:37:12which needs to be taken down before it falls down,
0:37:12 > 0:37:14and you come to the back garden.
0:37:14 > 0:37:16And what a pleasant surprise this is.
0:37:16 > 0:37:18Now, it's terribly overgrown,
0:37:18 > 0:37:21- but somewhere... - HE CHUCKLES
0:37:21 > 0:37:22..underneath here
0:37:22 > 0:37:26is the makings of a really nice sized plot.
0:37:26 > 0:37:28Garden here, bit of grass,
0:37:28 > 0:37:30vegetables at the bottom,
0:37:30 > 0:37:32it's lovely.
0:37:32 > 0:37:35Actually, a real surprise and a huge bonus.
0:37:35 > 0:37:37# Hallelujah!
0:37:37 > 0:37:39# Hallelujah!
0:37:39 > 0:37:41# Hallelujah, hallelujah
0:37:41 > 0:37:44# Hallelujah! #
0:37:44 > 0:37:47Phew! At last, something positive to shout about.
0:37:47 > 0:37:49And, you know, despite the large amount of internal work,
0:37:49 > 0:37:53this is a well situated bungalow on a good plot.
0:37:53 > 0:37:56And those factors alone make this interesting.
0:38:00 > 0:38:03So, what can an agent from the auctioneers who sold it
0:38:03 > 0:38:05tell us about this property?
0:38:08 > 0:38:12The bungalow's situated in a mainly residential area.
0:38:12 > 0:38:15It's got good communication routes,
0:38:15 > 0:38:19M5 and M6 are within close proximity,
0:38:19 > 0:38:22and it's got excellent bus routes to Wolverhampton,
0:38:22 > 0:38:26West Bromwich and other little local towns in the area.
0:38:26 > 0:38:28Nothing wrong with its position
0:38:28 > 0:38:31but clearly there's plenty wrong with the bungalow.
0:38:31 > 0:38:34So, what kind of outlay might we be looking at to make it
0:38:34 > 0:38:36right for the local market?
0:38:36 > 0:38:38To get the property back up to standard,
0:38:38 > 0:38:40I think it would depend really
0:38:40 > 0:38:43on who was intending to buy it and do it up.
0:38:43 > 0:38:48I think if you were going to employ somebody to do it for you,
0:38:48 > 0:38:52then you're probably going to spend something in the region of
0:38:52 > 0:38:54£15,000, £16,000.
0:38:54 > 0:38:58If you were a small builder who bought it as a development project,
0:38:58 > 0:39:01then probably £9,000 or £10,000.
0:39:01 > 0:39:03OK, so as one would expect,
0:39:03 > 0:39:06a reasonable amount needs to be spent here.
0:39:06 > 0:39:10But this property was guided at £39,000 to £44,000,
0:39:10 > 0:39:12so could it still be a good investment
0:39:12 > 0:39:15on the rental or resale market?
0:39:15 > 0:39:18Depending on how they finish it off,
0:39:18 > 0:39:20I mean, if it's finished off to a reasonable standard,
0:39:20 > 0:39:23then I would imagine that on the open market
0:39:23 > 0:39:27the property would realise something in the region of
0:39:27 > 0:39:29£90,000 to £100,000.
0:39:29 > 0:39:32If after they've finished modernising the property
0:39:32 > 0:39:35they decide to rent the property out,
0:39:35 > 0:39:38then I would imagine a rental in the region of
0:39:38 > 0:39:43£450 to £500 per calendar month, would be appropriate.
0:39:47 > 0:39:50Well, on the face of it, it is a very attractive guide price
0:39:50 > 0:39:53but when you step inside and see the amount of work that needs
0:39:53 > 0:39:56to be done, well, that definitely needs to be factored in.
0:39:56 > 0:39:59Is it still a good buy? You need to do your numbers.
0:39:59 > 0:40:02Let's see who did when it went under the hammer.
0:40:08 > 0:40:10Lot 22, our next lot,
0:40:10 > 0:40:11is two bedroomed,
0:40:11 > 0:40:13freehold
0:40:13 > 0:40:15bungalow.
0:40:15 > 0:40:17Where are we going to start? 50,000, am I bid?
0:40:17 > 0:40:20At 50. What a buy this will be, sir, and thank you.
0:40:20 > 0:40:22At 50,000, I have that on my right.
0:40:22 > 0:40:24Is it 60 now? Is that 60, sir?
0:40:24 > 0:40:27You're 55, sir. Are you 60 at the back, sir?
0:40:27 > 0:40:29Thank you, at 60.
0:40:29 > 0:40:31Do you want 65 on the aisle?
0:40:31 > 0:40:34No? New bid at 65, thank you.
0:40:34 > 0:40:35Is it 70 now?
0:40:35 > 0:40:38At 65,000, do I have 70 anywhere?
0:40:39 > 0:40:4266. Tell him if it's ones on the phone, it's got to be quick.
0:40:42 > 0:40:4466, is it 67?
0:40:46 > 0:40:4867, 68?
0:40:48 > 0:40:49I'm going to sell.
0:40:49 > 0:40:5168, 69, sir?
0:40:51 > 0:40:5370, is it?
0:40:53 > 0:40:54Selling at 69.
0:40:56 > 0:40:5770, 71?
0:40:57 > 0:41:0071, is it 72?
0:41:00 > 0:41:02No. Could be the killer blow then.
0:41:02 > 0:41:03Let me see your number.
0:41:03 > 0:41:06Number 495 on sale
0:41:06 > 0:41:08at 71,000,
0:41:08 > 0:41:10one, two,
0:41:10 > 0:41:13three. You've done it, sir.
0:41:13 > 0:41:15The last bid and your only bid has done it.
0:41:15 > 0:41:17£71,000.
0:41:17 > 0:41:21And so with that single bid of £71,000,
0:41:21 > 0:41:24the two bed Tipton bungalow was bought by Muhammed.
0:41:26 > 0:41:29Muhammed works as a machine operator
0:41:29 > 0:41:33and this is going to be a joint project with his cousin Assad.
0:41:33 > 0:41:36I met them both back at the property to find out more.
0:41:37 > 0:41:40- Assad, Muhammed, nice to meet you both.- Nice to meet you.
0:41:40 > 0:41:43- Nice to meet you, too. - Congratulations.- Thanks.
0:41:43 > 0:41:46Tell me why you wanted to buy this bungalow.
0:41:46 > 0:41:48Basically, it's for investment.
0:41:48 > 0:41:52It's a nice location, large garden as well.
0:41:52 > 0:41:54And how does it work between the two of you?
0:41:54 > 0:41:56He's a plumber,
0:41:56 > 0:41:58he knows how building works...
0:41:58 > 0:42:01- Handyman, you can say.- Right, good.
0:42:01 > 0:42:03So, your job is going to be sorting this place out?
0:42:03 > 0:42:06- My job, yes.- So, did you see it before you bought it?- Yes.
0:42:06 > 0:42:08Yeah, and what did you think?
0:42:08 > 0:42:10Actually it will need everything new,
0:42:10 > 0:42:13new plaster, new floors,
0:42:13 > 0:42:15rewiring, new kitchen,
0:42:15 > 0:42:18new bathroom, new doors, like everything.
0:42:18 > 0:42:22You will see much difference when you come back after a couple of weeks.
0:42:22 > 0:42:23Good. A couple of weeks?!
0:42:23 > 0:42:25- Yeah.- Six to eight weeks...
0:42:25 > 0:42:27Six to eight weeks, OK.
0:42:27 > 0:42:29And how much will the work cost, do you think?
0:42:29 > 0:42:31- About...- Over 10,000.
0:42:31 > 0:42:34- Really?- Yeah.- Is that with you doing a lot of the work yourself?
0:42:34 > 0:42:37- Then we can save some labour money. - Yeah.- You know.
0:42:37 > 0:42:40Well, you have to admire their confidence
0:42:40 > 0:42:43but this is as comprehensive an internal refurbishment
0:42:43 > 0:42:44as you're likely to get.
0:42:44 > 0:42:48I hope they haven't bitten off more than they can chew.
0:42:48 > 0:42:51The idea is then to sell it on or to rent it out?
0:42:51 > 0:42:53What will make you decide?
0:42:53 > 0:42:55- He's going to make decisions. - Is he? OK.
0:42:55 > 0:42:57We'll try to sell first.
0:42:57 > 0:42:59If we can't sell in two months,
0:42:59 > 0:43:01then we'll try to rent it out.
0:43:01 > 0:43:03And is this the sort of thing you do a lot?
0:43:03 > 0:43:05Have you done this kind of thing before?
0:43:05 > 0:43:07- This is first experience... - First experience? Wow.
0:43:07 > 0:43:09But you've got experience in...
0:43:09 > 0:43:12I've been working the last 12 years, you know, building work.
0:43:12 > 0:43:14But in property, own property,
0:43:14 > 0:43:16- the first experience.- Right.
0:43:16 > 0:43:21- I bought up my commercial shop as well, with three-bedroom flat.- OK.
0:43:21 > 0:43:24It was repossessed and he done everything inside.
0:43:24 > 0:43:26- Did he do a good job?- Yeah, yeah.
0:43:26 > 0:43:28- Well, listen, congratulations. - Thanks.
0:43:28 > 0:43:31Good luck with it and we look forward to seeing how you get on.
0:43:34 > 0:43:38Well, Muhammed and Assad don't seem too fazed by the challenge ahead.
0:43:38 > 0:43:40£10,000 budget though,
0:43:40 > 0:43:42if you were getting somebody in to do the work,
0:43:42 > 0:43:44I don't think you could do it for that,
0:43:44 > 0:43:47but as they are doing a lot of the work themselves,
0:43:47 > 0:43:49fingers crossed they'll do it on time
0:43:49 > 0:43:51and, of course, within that budget.
0:43:51 > 0:43:55You can find out how it all turns out later in the show.
0:43:58 > 0:44:00Well, we've checked out one property,
0:44:00 > 0:44:02what about the other two, Lucy?
0:44:02 > 0:44:05I'm sure there'll have been some unexpected surprises, Martin.
0:44:05 > 0:44:07Let's find out.
0:44:07 > 0:44:10# London, quieten down
0:44:10 > 0:44:12# I need to make a sound. #
0:44:12 > 0:44:16Back to Hounslow now in south-west London.
0:44:16 > 0:44:20Musicians Phil Collins and MIA cal this home,
0:44:20 > 0:44:22but the regular soundtrack is aeroplanes,
0:44:22 > 0:44:24as it's right on the flight path of Heathrow.
0:44:27 > 0:44:31Earlier, I was reaching for the sky myself in this three-storey,
0:44:31 > 0:44:33two flat property.
0:44:33 > 0:44:35Guided at 440,000,
0:44:35 > 0:44:38it was full of character and features.
0:44:40 > 0:44:43Look at that, I mean, that... There's a whole set of them.
0:44:43 > 0:44:46Look, there and here.
0:44:46 > 0:44:48You've got high ceilings, cornicing,
0:44:48 > 0:44:51my imagination's going a bit wild with this place.
0:44:51 > 0:44:53I really like it.
0:44:54 > 0:44:58And the person who also liked it enough to buy was Daniel.
0:44:58 > 0:45:02We were old friends as he'd been on the show before.
0:45:02 > 0:45:04Daniel, it's wonderful to see you again.
0:45:04 > 0:45:06Nice to see you again, Lucy.
0:45:06 > 0:45:08Was it three years ago I saw you?
0:45:08 > 0:45:10It was three years ago that we did this.
0:45:10 > 0:45:13What I've started doing is buy them in this area.
0:45:13 > 0:45:16- I'm buying here, keeping an eye on the properties.- Wow.
0:45:16 > 0:45:18Daniel paid £580,000 at auction
0:45:18 > 0:45:21and planned to use his property know-how
0:45:21 > 0:45:24to turn this from two flats to three flats,
0:45:24 > 0:45:25one three-bed
0:45:25 > 0:45:28and then two two-beds on the first and second floor.
0:45:28 > 0:45:30So, nine months later,
0:45:30 > 0:45:32has everything gone to plan?
0:45:47 > 0:45:50Well, I think this is a wonderful transformation
0:45:50 > 0:45:53and the only compromise Daniel has had to make with the planning
0:45:53 > 0:45:56is the ground-floor flat is a two-bedroom flat
0:45:56 > 0:45:59and not a three, as he'd hoped.
0:45:59 > 0:46:02But despite that, he's created three lovely flats
0:46:02 > 0:46:05and there is so much to see here.
0:46:05 > 0:46:08So I'm glad Daniel has come along to talk us through it.
0:46:08 > 0:46:10This is flat number one.
0:46:10 > 0:46:14We went and we extended the bedroom here and made a larger bedroom.
0:46:14 > 0:46:18And the kitchen here, we put new fittings
0:46:18 > 0:46:22and new windows in the kitchen.
0:46:22 > 0:46:26The bathroom, as you see, it's all new fittings here.
0:46:26 > 0:46:28And this was an extension to the house.
0:46:28 > 0:46:34I went and got new windows, lovely tiles, and it's a lovely
0:46:34 > 0:46:36breakfast area for the people in the flat,
0:46:36 > 0:46:39going straight out to the garden.
0:46:39 > 0:46:41I'm very pleased with the end, in here.
0:46:41 > 0:46:46We went and we found these tiles. You can see, they look like originals.
0:46:46 > 0:46:51We got it here, and we put it into the hallway as well.
0:46:51 > 0:46:55I am disappointed those beautiful sash doors have gone,
0:46:55 > 0:46:58but that was due to the cost of fixing or replacing them.
0:46:58 > 0:47:02Daniel has followed through on his promise to add character with
0:47:02 > 0:47:08these tiles. The first-floor flat has a lovely, open-plan living area.
0:47:08 > 0:47:11The original two bedrooms have been spruced up,
0:47:11 > 0:47:14while there is a glamorous-looking bathroom in this flat as well.
0:47:14 > 0:47:17And the cracks in the wall were, thankfully,
0:47:17 > 0:47:19not a sign of anything too sinister
0:47:19 > 0:47:23and were expertly dealt with by Daniel's building team.
0:47:23 > 0:47:25So, one more flat to go.
0:47:29 > 0:47:31This is the top-floor apartment.
0:47:31 > 0:47:36As you can see, we have built this large dormer into the roof.
0:47:36 > 0:47:40We have succeeded in making a lovely two-bedroom apartment,
0:47:40 > 0:47:45and this is the living-kitchen area, of the two-bedroom.
0:47:45 > 0:47:48As you can see, it's a lovely finish.
0:47:50 > 0:47:53By extending and adding the dormer, I think
0:47:53 > 0:47:55he will have added real value.
0:47:55 > 0:47:58But, in doing so, did he overshoot his budget,
0:47:58 > 0:47:59which was 100,000?
0:47:59 > 0:48:03And let's not forget, he had a £20,000 contingency.
0:48:03 > 0:48:06We went into that contingency.
0:48:06 > 0:48:11It was 110,000 and 20,000 of costs, interest, solicitors' costs.
0:48:11 > 0:48:14We went and extended out into the roof.
0:48:14 > 0:48:19That probably took the extra bit of time and it took my extra funds,
0:48:19 > 0:48:22so I don't feel it's, for the product, the finish,
0:48:22 > 0:48:24you always find an extra bit of money.
0:48:27 > 0:48:30Daniel went over budget, spending 130,000,
0:48:30 > 0:48:33and he went over his timescale by three months.
0:48:33 > 0:48:36He wants to sell all three flats, and the only way to know
0:48:36 > 0:48:40if he will make a profit is by asking two local estate agents.
0:48:40 > 0:48:43But first, let's find out which one of the three flats is
0:48:43 > 0:48:45best in the experts' opinion.
0:48:49 > 0:48:52The prime flat would be the one with the garden.
0:48:52 > 0:48:54It's always going to be the premium one, because
0:48:54 > 0:48:57if you've got friends, family around, you can have barbecues.
0:48:57 > 0:49:01The disadvantage that the first floor and the second floor have
0:49:01 > 0:49:03is that they haven't got access to the garden.
0:49:03 > 0:49:05Luxury living throughout.
0:49:05 > 0:49:08I mean, the chap that's finished these properties has done it
0:49:08 > 0:49:11to a really good standard throughout the whole property.
0:49:11 > 0:49:15130,000 to renovate, 580 grand at auction,
0:49:15 > 0:49:19that makes Daniel's total spend £710,000.
0:49:19 > 0:49:23So, what is each flat worth? Will he make a profit?
0:49:26 > 0:49:29The ground floor flat comes as a premium,
0:49:29 > 0:49:32because it has a garden, etc, and slightly larger living
0:49:32 > 0:49:36accommodation, so you'd be looking at a premium price of £360,000.
0:49:36 > 0:49:40The first and second floor flats, they are about the same sort of size
0:49:40 > 0:49:44and level, so I would say you're looking at around £350,000.
0:49:44 > 0:49:46I would value the flats at £360,000.
0:49:46 > 0:49:51The first and second floor flats I would value at £350,000.
0:49:52 > 0:49:56Well, that doesn't happen very often. The agents both agree
0:49:56 > 0:49:58on the figures!
0:49:58 > 0:50:03So, a total value for all three flats of £1.06 million.
0:50:03 > 0:50:08Daniel's pre-tax profit could be £350,000.
0:50:12 > 0:50:15Oh, my gosh! I'm shocked at that. It's way above...
0:50:15 > 0:50:19If I got those sort of offers, I would take it, straight away.
0:50:20 > 0:50:25A potentially poochy, oh, I mean peachy result for dog-mad Daniel.
0:50:25 > 0:50:28He has recently had some additions to his household.
0:50:30 > 0:50:35# And they call it puppy love... #
0:50:35 > 0:50:42Since I last met you, I had a lovely Bichon, and they had two pups.
0:50:42 > 0:50:46I hope you don't mind, but one of them is called Lucy, after yourself!
0:50:46 > 0:50:51Lovely character, bossy, tells the other dogs what to do.
0:50:51 > 0:50:55I'm not saying it's anything associated, but...
0:50:55 > 0:50:57Lovely, as you, you see.
0:50:57 > 0:50:59Oh, you absolute flatterer, you!
0:50:59 > 0:51:03But of course, my bark is worse than my bite. Ruff!
0:51:09 > 0:51:13Back to Tipton now, where I went to see a two-bed bungalow
0:51:13 > 0:51:19guided at an astonishingly low £39,000 to £44,000.
0:51:19 > 0:51:23The outside looked a little tatty, but I thought...
0:51:23 > 0:51:25How bad can it be?
0:51:25 > 0:51:28Well, apparently, THAT bad.
0:51:28 > 0:51:30Those holes, that's woodworm.
0:51:30 > 0:51:34Those little devils have been munching away merrily here,
0:51:34 > 0:51:35haven't they? Look at that.
0:51:35 > 0:51:39Damp, woodworm, this is a textbook disaster, isn't it?
0:51:39 > 0:51:41HE LAUGHS
0:51:41 > 0:51:45And it didn't stop there because, in addition to the woodworm,
0:51:45 > 0:51:48there was no toilet.
0:51:48 > 0:51:51A kitchen about which, well, the less said the better,
0:51:51 > 0:51:53and some very interesting wallpaper.
0:51:53 > 0:51:58But at least the psychedelic pattern hid the cracks in the wall.
0:52:02 > 0:52:05Stepping up to the challenge, though, were cousins Muhammed
0:52:05 > 0:52:09and Assad, who paid £71,000 for it.
0:52:09 > 0:52:14Assad is a builder, thank goodness, because this is no job for novices.
0:52:14 > 0:52:18But this was to be the cousins' first project together.
0:52:18 > 0:52:19And what a doozy!
0:52:19 > 0:52:21# Yeah, yeah
0:52:22 > 0:52:25# Do you remember the first time?
0:52:25 > 0:52:28# I can't remember a worse time... #
0:52:28 > 0:52:29Actually needing everything new.
0:52:29 > 0:52:35New plaster, new floors, rewiring, new kitchen, new bathroom, new doors.
0:52:35 > 0:52:38Like, everything.
0:52:38 > 0:52:42You will see much difference when you come back after a couple of weeks.
0:52:42 > 0:52:46- Good! A couple of weeks?- Six to eight weeks.- Six to eight weeks, OK.
0:52:46 > 0:52:49Three months later, we've returned to see
0:52:49 > 0:52:53if this bungalow has been brought back from the brink.
0:53:23 > 0:53:25What a transformation!
0:53:25 > 0:53:28I especially like the most welcome feature -
0:53:28 > 0:53:32flooring you can actually stand on without falling through.
0:53:36 > 0:53:39Muhammed and Assad certainly had challenges with this first
0:53:39 > 0:53:43project together. The woodworm being the most worrying.
0:53:43 > 0:53:45So, how did they get on?
0:53:45 > 0:53:48The floor was quite damaged, you know.
0:53:48 > 0:53:50It took time to replace all of it.
0:53:50 > 0:53:55We changed the joists, floorboards, skirting board.
0:53:55 > 0:53:59But there was even more work to be done.
0:54:00 > 0:54:03We put in new electrics throughout,
0:54:03 > 0:54:09and central heating, new floors, new doors, a new kitchen, new bathroom.
0:54:09 > 0:54:11Outside we are completing the back garden.
0:54:11 > 0:54:14We created a new room in the loft.
0:54:14 > 0:54:16It was a lot of work.
0:54:16 > 0:54:20Flooring the loft creates valuable storage space
0:54:20 > 0:54:23which, in a bungalow especially, makes a lot of sense,
0:54:23 > 0:54:26since you're often slightly tight on storage.
0:54:26 > 0:54:29And I'm willing to venture it will add a bit of value, too.
0:54:29 > 0:54:31As we all know on Homes Under The Hammer,
0:54:31 > 0:54:34bathrooms and kitchens are really important in the property market
0:54:34 > 0:54:36and generally, what you spend on those,
0:54:36 > 0:54:39you'll get back in returns on your investment.
0:54:39 > 0:54:43And Muhammed and Assad have done a great job on both these rooms.
0:54:43 > 0:54:48Yeah, basically, there was a bath here. We moved the bath, yeah?
0:54:48 > 0:54:50There was the window on that side.
0:54:50 > 0:54:53We moved the window this side and put the shower on that side.
0:54:53 > 0:54:55There was toilet here,
0:54:55 > 0:55:00so we moved toilet from this side to that side and we put the sink here.
0:55:00 > 0:55:04The sink was here, it was so tight, this side.
0:55:04 > 0:55:08We put new tiles as well, and basically it looks more special
0:55:08 > 0:55:10and nice now, it has more room now.
0:55:10 > 0:55:12And new radiator as well.
0:55:13 > 0:55:15All this took three months,
0:55:15 > 0:55:18a bit over their original six to eight week timescale.
0:55:18 > 0:55:21Have they similarly gone over their budget?
0:55:23 > 0:55:26Our original budget was 10,000.
0:55:26 > 0:55:30It's nearly 15,000 now, it's just for material.
0:55:30 > 0:55:32We didn't include the labour.
0:55:32 > 0:55:35We are over 5,000, but we are happy with it.
0:55:35 > 0:55:38We have done a great job, you know? Everything's new now.
0:55:38 > 0:55:41So that's, like, it's a little more.
0:55:41 > 0:55:44It's time for two local estate agents to have a look
0:55:44 > 0:55:48and tell us what they think of this investment project.
0:55:48 > 0:55:52Will this first joint venture be a profitable one?
0:55:52 > 0:55:55First, the agent from the auction house who sold it,
0:55:55 > 0:55:58and he remembers it well.
0:55:58 > 0:56:02Having seen it before they bought it, to what it's like now,
0:56:02 > 0:56:05I think they've done exceptionally well.
0:56:05 > 0:56:11They've turned it into a residence that would be fit for anybody.
0:56:11 > 0:56:15From the perspective of selling it, the benefits, primarily,
0:56:15 > 0:56:20are that it would suit elderly people as well as first-time purchasers,
0:56:20 > 0:56:23so you've got a bigger marketplace to aim at.
0:56:23 > 0:56:26These properties do lack little bit of storage,
0:56:26 > 0:56:30so doing the attic and putting a proper ladder in also helps.
0:56:30 > 0:56:34They intend to sell the property on, so what do the agents think
0:56:34 > 0:56:38the cousins' £86,000 investment could make for them?
0:56:38 > 0:56:42Bearing in mind the agent who visited first time thought
0:56:42 > 0:56:47a refurbished two-bed bungalow would make £90,000 to £100,000?
0:56:47 > 0:56:50So, have they managed to beat this figure?
0:56:50 > 0:56:55I think, on the open market, this property is worth £125,000.
0:56:55 > 0:56:59On the open market, I would expect the property to achieve
0:56:59 > 0:57:04something in the region of £120,000 to £125,000.
0:57:04 > 0:57:08I think the change in price is that they have made a good job of it.
0:57:08 > 0:57:12When I first came round, it really wasn't very good at all.
0:57:12 > 0:57:14But they've done a really nice job.
0:57:15 > 0:57:18Muhammed and Assad's hard work has paid off
0:57:18 > 0:57:24and that top valuation of 125,000 could mean their hard work has
0:57:24 > 0:57:31paid off to the tune of a pre-tax profit of £39,000.
0:57:31 > 0:57:33That's good!
0:57:33 > 0:57:35That's a good feeling.
0:57:35 > 0:57:39That's over 10,000 we are looking. Got to change that price!
0:57:40 > 0:57:45As first projects go, I would say this has been a very successful one
0:57:45 > 0:57:49for the guys, but most importantly, have they enjoyed it?
0:57:50 > 0:57:56It has been, yeah. Having fun, the full day, having tea, you know?
0:57:56 > 0:58:00It's been a lot of fun, yeah. I like this. It's been a pleasure.
0:58:03 > 0:58:07Well, that's it for today's show, but we'll have more bungalows,
0:58:07 > 0:58:10houses, semis, whatever for you next time,
0:58:10 > 0:58:12here on Homes Under The Hammer.
0:58:12 > 0:58:16- We'll look forward to seeing you, then.- Goodbye for now.- Goodbye.