0:00:02 > 0:00:05Hello. Whether you want to create your family home or buy a property
0:00:05 > 0:00:08as an investment, the auction room is a great starting point.
0:00:08 > 0:00:12There really is something for everyone. You've got to keep a cool head, and don't get carried away
0:00:12 > 0:00:14- when the bidding starts. - Yeah, do all that,
0:00:14 > 0:00:18and you could be a winner, buying your home under the hammer.
0:00:43 > 0:00:45The rewards can be great if you get it right,
0:00:45 > 0:00:48but there are plenty of opportunities to slip up.
0:00:48 > 0:00:51Yes, everything from unforeseen problems to bad planning
0:00:51 > 0:00:56- and budgeting.- Yes, were today's buyers prepared before their homes went under the hammer?
0:00:58 > 0:01:01Something could be disturbing the neighbours in this north-east
0:01:01 > 0:01:03London flat.
0:01:03 > 0:01:05LOUD CREAKING
0:01:05 > 0:01:08It is really bloomin' noisy.
0:01:08 > 0:01:12With two flights of stairs between your bed and the loo, you
0:01:12 > 0:01:16might consider buying a bedpan with this South Wales terraced house.
0:01:16 > 0:01:18It is not ideal, is it?
0:01:18 > 0:01:22And this flat near Manchester comes with all sorts of extras,
0:01:22 > 0:01:25mainly eight-legged ones.
0:01:25 > 0:01:29And you can keep the cobwebs if you want, that's optional.
0:01:29 > 0:01:31All these properties have been sold at auction.
0:01:31 > 0:01:34We'll find out who bought them, and what they paid for them,
0:01:34 > 0:01:36when they went under the hammer.
0:01:36 > 0:01:38Sold, so yours, well done.
0:01:43 > 0:01:45This is Woodford Green in north-east London.
0:01:47 > 0:01:49Historically part of Essex,
0:01:49 > 0:01:53in 1965 it was incorporated into Greater London.
0:01:53 > 0:01:56With its proximity to the City, and with the M11
0:01:56 > 0:02:00on its doorstep, Woodford Green is a great spot for commuters.
0:02:02 > 0:02:04# In the city there's a thousand things
0:02:04 > 0:02:07# I want to say to you... #
0:02:07 > 0:02:10We are a 15-minute walk from the closest Tube here,
0:02:10 > 0:02:13so it is a little bit of a hike to catch a train to work,
0:02:13 > 0:02:15but it is not too bad.
0:02:15 > 0:02:19Well, I'm here to see a first-floor flat in a semidetached 1930s house,
0:02:19 > 0:02:23and it went to auction with a guide price of £150,000.
0:02:23 > 0:02:27And it is somewhere behind this big hedge. I'm going to investigate.
0:02:30 > 0:02:33Unfortunately, the driveway is too narrow for some off-road
0:02:33 > 0:02:36parking, but there is a garden at the back that belongs to the
0:02:36 > 0:02:41property, and a large outbuilding, which could provide handy storage.
0:02:41 > 0:02:44But what about the flat itself?
0:02:44 > 0:02:47So up these really steep stairs.
0:02:47 > 0:02:49It is almost as if I've got to pull myself up,
0:02:49 > 0:02:51they are sort of sloping this way.
0:02:51 > 0:02:53Once you are at the top of the stairs,
0:02:53 > 0:02:56there's this rather unusual full ceiling that's been
0:02:56 > 0:02:59put in here, and I don't know what all that is about.
0:02:59 > 0:03:02Very strange indeed. So, here we are.
0:03:02 > 0:03:05It is quite a good layout, though. You've got a bathroom with a coloured suite.
0:03:05 > 0:03:08You know my rules, keep it white, keep it bright.
0:03:08 > 0:03:12Bedroom here, nice size. Second bedroom, again, a good-sized double.
0:03:12 > 0:03:15Into the front of the building, which is the lounge.
0:03:15 > 0:03:18I like it because it's got a big window, letting loads of sun in.
0:03:18 > 0:03:23It needs a complete, modern overhaul. You've got woodchip on the ceiling,
0:03:23 > 0:03:26this rather interesting fireplace,
0:03:26 > 0:03:31which I probably would just take out and cover up.
0:03:31 > 0:03:33And what is through here?
0:03:33 > 0:03:36I do like the matching carpet and curtains, by the way.
0:03:36 > 0:03:40What is behind the curtain? The kitchen! Voila!
0:03:40 > 0:03:43That is hilarious. I love the way it was just tucked behind the curtain there.
0:03:43 > 0:03:47Again, it just needs to be brought out, literally just put something
0:03:47 > 0:03:51very simple and white and bright in there and it will really do the job.
0:03:51 > 0:03:55So, overall, it is a good-size flat, it needs a big, modern overhaul,
0:03:55 > 0:03:57and something I am noticing...
0:03:57 > 0:03:59LOUD CREAKING
0:03:59 > 0:04:01It is really bloomin' noisy.
0:04:01 > 0:04:05These floorboards are so creaky, there is no way anybody could
0:04:05 > 0:04:08ever creep in late at night and get away with it.
0:04:12 > 0:04:14It may not be noise pollution,
0:04:14 > 0:04:18but these creaky floorboards must be driving the downstairs neighbours
0:04:18 > 0:04:22up the wall, so do them a favour, pull up the carpet and check if there's
0:04:22 > 0:04:26a problem, and you might find they just need screwing down properly.
0:04:26 > 0:04:29But the floorboards aren't the only issue here.
0:04:29 > 0:04:31Now, there are two nasties in this flat.
0:04:31 > 0:04:36Firstly, polystyrene ceiling tiles. You know what I'm going to say.
0:04:36 > 0:04:37They are a fire hazard.
0:04:37 > 0:04:40Now, if there was a fire in this property,
0:04:40 > 0:04:43they would melt and they would drip big globs of molten plastic
0:04:43 > 0:04:48tile, spreading the fire and giving of noxious fumes.
0:04:50 > 0:04:54Nowadays, polystyrene tiles are treated with a fire retardant,
0:04:54 > 0:04:57and have to be put up with the correct adhesive in order to
0:04:57 > 0:04:59meet current fire safety standards.
0:04:59 > 0:05:02But these old ones should definitely go,
0:05:02 > 0:05:05and that means the ceiling will need to be replastered.
0:05:05 > 0:05:07And while the plasterer is in,
0:05:07 > 0:05:11well, you could get him to deal with my next pet hate.
0:05:11 > 0:05:16In the hall, that old favourite of mine. Textured plaster.
0:05:16 > 0:05:20The modern trend is for nice, smooth walls, but you can't just sand this
0:05:20 > 0:05:26stuff off because, until the 1980s, this stuff often contained asbestos.
0:05:26 > 0:05:29Now, it is no danger when it is undamaged like this,
0:05:29 > 0:05:34so you can just skim it over, or you could get it professionally removed.
0:05:34 > 0:05:38Just don't be sanding it off and get all that dust in the air.
0:05:39 > 0:05:43So there's a bit of work to do in this dated flat.
0:05:43 > 0:05:47But one thing you don't have to worry about is the lease.
0:05:47 > 0:05:49There is still 122 years to run.
0:05:51 > 0:05:54Does the local property expert think that this would be
0:05:54 > 0:05:56a worthwhile investment?
0:05:56 > 0:06:01'This particular location is probably the lower end of Woodford Green,'
0:06:01 > 0:06:04but everywhere is popular now.
0:06:04 > 0:06:08Especially in the first-time buyer or buy-to-let range.
0:06:08 > 0:06:13You need new central heating, new kitchen, new bathroom.
0:06:13 > 0:06:18The wiring may need to be checked. Nice, smooth walls. Nice flooring.
0:06:18 > 0:06:21Because if you refurb it nicely,
0:06:21 > 0:06:26then you will obviously get a better price for selling or for renting.
0:06:26 > 0:06:28And in terms of valuation,
0:06:28 > 0:06:33what price does she think the flat could achieve on the sales market?
0:06:33 > 0:06:35I would say anywhere from
0:06:35 > 0:06:41£235,000-£250,000.
0:06:42 > 0:06:44And what about rental?
0:06:44 > 0:06:49I think you could achieve, here, £1,000 per calendar month.
0:06:50 > 0:06:54Well, this two-bed flat needs a complete makeover.
0:06:54 > 0:06:57New bathroom, new kitchen, don't forget those creaky floorboards.
0:06:57 > 0:07:01The works. But once it is done, it would make a great little rental property
0:07:01 > 0:07:04or home for someone. Let's find out who bought it at auction.
0:07:06 > 0:07:09First-floor, self-contained flat.
0:07:09 > 0:07:12Lot 64, then, where do you want to start? Should we say 150?
0:07:12 > 0:07:14150, thank you, straightaway, 150.
0:07:14 > 0:07:17152 in the aisle. 152, 154. 156.
0:07:17 > 0:07:20158. 160. 162.
0:07:20 > 0:07:22This lot flew out of the traps,
0:07:22 > 0:07:28and we rejoin the bidding with the price at £184,000.
0:07:28 > 0:07:31Still got value 184. 186.
0:07:31 > 0:07:34188. 190.
0:07:34 > 0:07:37192. Sure?
0:07:37 > 0:07:39191, I'll try and help you out.
0:07:39 > 0:07:42191. Out. 192. 193.
0:07:42 > 0:07:45194. 195.
0:07:45 > 0:07:48196. 197.
0:07:48 > 0:07:51Sure? £196,000.
0:07:51 > 0:07:55197 anywhere else? Otherwise, £196,000 I have.
0:07:55 > 0:07:58Another 1,000? Could be last chance.
0:07:58 > 0:08:00Otherwise, 196,000, then, for the first...
0:08:00 > 0:08:03196 for the second...
0:08:03 > 0:08:08Third and final time at £196,000.
0:08:08 > 0:08:11Are you sure? We're all done? Sold.
0:08:13 > 0:08:18After that battle of the bids, the new owner of the property was Yasin.
0:08:18 > 0:08:21Yasin runs a men's clothing company and, along with his mum
0:08:21 > 0:08:26and dad, also buys the occasional property as a business sideline.
0:08:26 > 0:08:29We met up back at the flat to discuss his plans.
0:08:29 > 0:08:34# Cos every girl crazy 'bout a sharp dressed man. #
0:08:34 > 0:08:37- Yasin, congratulations. - Thank you.- Now, you did quite well on auction day, didn't you?
0:08:37 > 0:08:39You didn't pay too much over the guide price.
0:08:39 > 0:08:43I had a limit, so I stayed within the limit, so that was OK.
0:08:43 > 0:08:45- So what was your upper limit you would have paid?- 200.
0:08:45 > 0:08:49- I was close to it. - £4,000 off that.- Yes.
0:08:49 > 0:08:52- So it is purely for investment purposes you've bought this?- Yes.
0:08:52 > 0:08:56It is for rental, so I'm not really looking for the after
0:08:56 > 0:08:59sale on it, or anything like that, but just to sort of keep it.
0:08:59 > 0:09:00Yes, rent it out, hopefully.
0:09:00 > 0:09:03So, walking in this flat for the first time,
0:09:03 > 0:09:06- what did you think when you first saw it?- Didn't need too much work.
0:09:06 > 0:09:08Most of it is decoration.
0:09:08 > 0:09:11I've done something similar to this one, so should be OK.
0:09:11 > 0:09:14Now, I know you are in menswear. Looking very chic today,
0:09:14 > 0:09:17- I might say.- Thank you. - Tell me a little bit about that, and how are you going to
0:09:17 > 0:09:19work it so that you've got time to develop this flat?
0:09:19 > 0:09:23Yes, so we've got a couple of clothing stores and a website.
0:09:23 > 0:09:26But I'm not really going to get my hands dirty at all.
0:09:26 > 0:09:28I'm going to leave it to a team of builders.
0:09:28 > 0:09:31There's someone I've used before, but they are really busy,
0:09:31 > 0:09:34so I'm going to have to look elsewhere, unfortunately.
0:09:34 > 0:09:37So you are really reliant on just handing over the keys to
0:09:37 > 0:09:41- somebody, crack on with the work and then you'll come and check up on it? - Basically.
0:09:41 > 0:09:44So why don't you get your hands dirty and get involved yourself?
0:09:44 > 0:09:47Just don't have the time. I don't think I have the skill as well.
0:09:47 > 0:09:51I think anything I do, the builders will have to do it again, to repair, so...
0:09:51 > 0:09:54Apart from painting, maybe I could do a bit of painting,
0:09:54 > 0:09:56but apart from that, no, I'm useless.
0:09:56 > 0:09:59So you're good at folding shirts and making clothes look nice,
0:09:59 > 0:10:01but you can't get your hands dirty and peel wallpaper off?
0:10:01 > 0:10:03Exactly, yes.
0:10:03 > 0:10:04# I like your style
0:10:04 > 0:10:06# I like your style... #
0:10:06 > 0:10:10With style being a big part of Yasin's clothing business,
0:10:10 > 0:10:14I wonder how much of it he will bring to this refurbishment.
0:10:14 > 0:10:18Basically, the plan is to gut everything.
0:10:18 > 0:10:21So everything you see in here we are going to get rid of.
0:10:21 > 0:10:24The floor is going to be laminated, so all of the wallpaper is going to come off.
0:10:24 > 0:10:28Replaster absolutely everything. New kitchen, new bathroom.
0:10:28 > 0:10:31And the layout, keep it the way it is.
0:10:31 > 0:10:33And in terms of the radiators as well, we found that
0:10:33 > 0:10:36some of the pipeworks go up into the loft, so we are going to make sure
0:10:36 > 0:10:40that they all go under the floor and, yes, that is basically it.
0:10:40 > 0:10:43So the woodchip ceilings and the polystyrene tiles are all going to go?
0:10:43 > 0:10:47Yes, they're all going to go. If you want it, you are more than welcome...
0:10:47 > 0:10:50- And the velvet curtain that leads into the kitchen is going to go? - Yes.
0:10:50 > 0:10:51Whoo! Keep it.
0:10:54 > 0:10:57I'm very relieved to hear that everything
0:10:57 > 0:11:01I dislike about this place won't be here for much longer. Hurray!
0:11:01 > 0:11:04And the new flooring should sort out those creaky floorboards.
0:11:06 > 0:11:10- What about that garden?- I didn't even know about it until today, actually.
0:11:10 > 0:11:13So you bought this, you didn't even know it came with a little plot?
0:11:13 > 0:11:17- It is a bonus. Maybe I would have gone a bit higher.- You've got a nice old garage, or a shed on there,
0:11:17 > 0:11:18that belongs to you.
0:11:18 > 0:11:22Yes. It is like finding a fiver in your pocket, in a pair of jeans...
0:11:22 > 0:11:23A bit more than a fiver.
0:11:23 > 0:11:25THEY LAUGH
0:11:25 > 0:11:28Yes, it is going to take a bit more than a fiver to sort this place out, so how much has
0:11:28 > 0:11:29Yasin set aside?
0:11:31 > 0:11:348 to 9,000. I was hoping to spend eight.
0:11:34 > 0:11:36Now knowing that the builders I usually use
0:11:36 > 0:11:38are not going to be doing it, I may have to pay
0:11:38 > 0:11:42a bit of a premium in getting someone else in, or someone...
0:11:42 > 0:11:45So I'm not too sure what the cost of the labour is going to be,
0:11:45 > 0:11:48so that's what it is. Eight to nine, I think, should do it.
0:11:48 > 0:11:51- Are you nervous about trying to find your new team of builders?- Yes.
0:11:51 > 0:11:56Only reason... Don't know what the quality of work is going to be like.
0:11:56 > 0:11:58That's the only one issue I've got, because I know...
0:11:58 > 0:12:01Some people are very good, and some people are not,
0:12:01 > 0:12:05and it is normally the finishing, especially with something like this, where it...
0:12:05 > 0:12:08- It is going to be the finishing. - What is your timescale, and how long have you got?
0:12:08 > 0:12:12- As soon as the work's started, one month.- Four weeks?!- Hopefully.
0:12:12 > 0:12:15- Four to five weeks. - And this is with a team of builders you've never met, you don't know?
0:12:15 > 0:12:20- That's the thing.- Four weeks?- That's the problem that I've got now. I say four weeks. I'm hoping.
0:12:20 > 0:12:22And again, finding someone, so, yes, I think
0:12:22 > 0:12:25it shouldn't take longer than four to five weeks, I don't...
0:12:25 > 0:12:27You've just added a week there. I like the way you did that.
0:12:27 > 0:12:31Four to five weeks. Yasin, good luck, I can't wait to see if you do it.
0:12:31 > 0:12:35- On time, within that £9,000 budget. Good luck.- Great, thank you so much.
0:12:37 > 0:12:41Yasin plans a pretty straightforward refurbishment for this flat,
0:12:41 > 0:12:44with no major structural works and no layout changes.
0:12:44 > 0:12:48He's happy to keep it as a two-bed property to let out.
0:12:48 > 0:12:52So will it all go smoothly? Will Yasin keep to his budget
0:12:52 > 0:12:55and timescale and will he find the right team of builders?
0:12:55 > 0:12:59Join us later in the programme and you can see how he gets on.
0:13:03 > 0:13:07I'm in Penrhiwceiber, a former mining town in the Welsh
0:13:07 > 0:13:10valleys, about 30 minutes' drive from Cardiff.
0:13:12 > 0:13:16Once home to two pits, the last one closed in 1985,
0:13:16 > 0:13:19after more than a century in operation.
0:13:21 > 0:13:25Nowadays it is a commuter town for people working in Cardiff or
0:13:25 > 0:13:26Merthyr Tydfil.
0:13:28 > 0:13:32Well, typical of many of the mining towns in the Valleys,
0:13:32 > 0:13:36Penrhiwceiber is full of streets of terraced houses like this,
0:13:36 > 0:13:38originally built, probably, for the mine workers.
0:13:38 > 0:13:41But they do make good, solid houses.
0:13:41 > 0:13:44And the one that was up for auction is this one.
0:13:44 > 0:13:49£25,000 plus was the guide price. Three bedrooms. In we go.
0:13:51 > 0:13:54So, what have we got? Entrance hall here.
0:13:54 > 0:13:57- HE COUGHS - First impressions.
0:13:57 > 0:14:00Looks all right. Smells pretty rancid.
0:14:00 > 0:14:04Oh, wow. Um...
0:14:04 > 0:14:07Just thank your lucky stars they haven't invented Smell-O-Vision yet.
0:14:07 > 0:14:09What have we got? Front room there.
0:14:09 > 0:14:12It's not a bad size, quite a large window, lots of light.
0:14:12 > 0:14:14Stairs up to your bedrooms there.
0:14:14 > 0:14:17And then through into what you would suspect was going to be
0:14:17 > 0:14:22the kitchen, but it is not. It is another living space.
0:14:22 > 0:14:27Um, but looks like I'm going to have to search further...
0:14:27 > 0:14:30to find what I might expect. If you know what I mean.
0:14:33 > 0:14:36Yes, from the ground floor, I'm going down.
0:14:36 > 0:14:40The construction of this house is typical of the area
0:14:40 > 0:14:44because of the steepness of the hills these towns were built into.
0:14:45 > 0:14:48In this case, from the front, it looks like a regular two-storey
0:14:48 > 0:14:52affair, but from the back you can see the extra lower floor.
0:14:52 > 0:14:55# Get down, deeper and down
0:14:55 > 0:14:57# Down, down, deeper and down... #
0:14:57 > 0:14:59Well, down to the lower floor
0:14:59 > 0:15:03and finally...some of the facilities you expect in a house.
0:15:03 > 0:15:06A kitchen. The bathroom, well, that's the bathroom there.
0:15:06 > 0:15:11It's a decent size. It needs refurbishment. As does this space.
0:15:11 > 0:15:16Ah, it is not ideal, is it? Especially if you are upstairs in the bedrooms,
0:15:16 > 0:15:19down two flights of stairs to use the loo in the middle of the night.
0:15:19 > 0:15:23Er, no. But in terms of position for the kitchen, well,
0:15:23 > 0:15:26you've got great views out onto the garden there, across to the hills.
0:15:26 > 0:15:29So actually, the position of the kitchen works.
0:15:29 > 0:15:32And with these types of properties, in this part of Wales, it is
0:15:32 > 0:15:37sort of what you have to have, given the shape of the land.
0:15:37 > 0:15:39# Can you dig it?
0:15:39 > 0:15:41# Oh, yeah... #
0:15:43 > 0:15:46So, apart from the rather potent pong of pet,
0:15:46 > 0:15:49the property doesn't seem to be in too bad condition.
0:15:49 > 0:15:53It is a bit dated and in need of complete redecoration,
0:15:53 > 0:15:56and the kitchen and bathroom will obviously need replacing.
0:15:56 > 0:15:58But so far, I am digging it.
0:16:00 > 0:16:04So up finally onto the top floor, where you've got your three bedrooms.
0:16:04 > 0:16:06Now, they are all a pretty decent size.
0:16:06 > 0:16:08So I guess the 64 million question is,
0:16:08 > 0:16:12could you get a bathroom up here? Um... Well, maybe.
0:16:12 > 0:16:16I mean, these walls wouldn't be too much of an issue to take out.
0:16:16 > 0:16:21Maybe reconfigure it up here, get at least a loo, maybe a shower room.
0:16:21 > 0:16:23It is going to be quite a lot of effort.
0:16:23 > 0:16:27It would make living here more pleasant. Will it affect what you get in rental? Probably not.
0:16:27 > 0:16:31So it really depends on your end use for the property.
0:16:31 > 0:16:32Yeah.
0:16:34 > 0:16:37Let's ask a local estate agent if he thinks changing
0:16:37 > 0:16:41the layout would be a benefit in this multilevel property.
0:16:41 > 0:16:44The layout is typical of this type of property,
0:16:44 > 0:16:46this type of three-storey property.
0:16:46 > 0:16:49The bathrooms tend to be on the lower ground floor
0:16:49 > 0:16:52because of connection to the drainage system.
0:16:52 > 0:16:54Unfortunately, I can't see any potential to put
0:16:54 > 0:16:58a bathroom on the first floor, or the top floor.
0:16:58 > 0:17:00So, unfortunately, the bathroom will probably have to
0:17:00 > 0:17:02remain in the lower ground floor.
0:17:04 > 0:17:08It sounds like moving the loo is more hassle than it's worth,
0:17:08 > 0:17:11so when modernised and redecorated,
0:17:11 > 0:17:15what could this three-bed terrace be worth?
0:17:15 > 0:17:18Provided the property is refurbished to a good standard,
0:17:18 > 0:17:22I would recommend the property be remarketed at an
0:17:22 > 0:17:24asking price of £55,000.
0:17:26 > 0:17:28And what about rental?
0:17:28 > 0:17:31Depending on the quality of the finish,
0:17:31 > 0:17:36this property could achieve up to £425 per calendar month.
0:17:37 > 0:17:40Well, it is a terrace that needs a tidy,
0:17:40 > 0:17:43but intrinsically a good, solid property. Would you bother
0:17:43 > 0:17:47with the whole moving of the toilet upstairs and reconfiguring?
0:17:47 > 0:17:50As I said before, it is all about what you intend to do with it.
0:17:50 > 0:17:51So, let's see who bought it,
0:17:51 > 0:17:54and find out what they are going to do with it.
0:17:54 > 0:17:55Let's go to the auction.
0:17:57 > 0:17:59I have a proxy bid on this property.
0:17:59 > 0:18:02It is guided at £25,000.
0:18:02 > 0:18:04Will you start me, I don't know, we'll start, shall we,
0:18:04 > 0:18:06on the proxy bid at £20,000?
0:18:06 > 0:18:10At 20, then, it is with me on my proxy. At 20. 21 now, can I see in the room?
0:18:10 > 0:18:1421, thank you. 21. 22. 23, sir. 23.
0:18:14 > 0:18:1624. 25.
0:18:16 > 0:18:19Thank you, 25. 26. 27 now.
0:18:19 > 0:18:2327. 27. 27. 28.
0:18:23 > 0:18:2529. 29, no.
0:18:25 > 0:18:27At 28,000, and with the proxy.
0:18:27 > 0:18:29You are now out, both of you. And there.
0:18:29 > 0:18:32At 28,000, it is going to be sold then for the first time.
0:18:32 > 0:18:3529, sir.
0:18:35 > 0:18:3929, thank you. 29. Proxy is now out. £29,000, it is with you.
0:18:39 > 0:18:41At 29,000. 30, can I say from anybody?
0:18:41 > 0:18:44Well, it is 29,000 here, for the first time.
0:18:44 > 0:18:46Second time.
0:18:46 > 0:18:49Third and last time. At £29,000.
0:18:49 > 0:18:51Sold, so yours, well done.
0:18:53 > 0:18:56That final bid of 29,000 was made by Andrew,
0:18:56 > 0:18:59who lives in Pontypool.
0:18:59 > 0:19:02I met up with him back at the house to find out what
0:19:02 > 0:19:04he was planning to do with it.
0:19:04 > 0:19:05Andrew, good to meet you.
0:19:05 > 0:19:08- Nice to meet you, too. - Congratulations.
0:19:08 > 0:19:10Tell me why you wanted to buy this place.
0:19:10 > 0:19:13Well, as an investment, and I've been going to the
0:19:13 > 0:19:17auctions for nearly a year and bid on a couple of the actual
0:19:17 > 0:19:21- various properties, usually churches or pubs.- Oh, right.
0:19:21 > 0:19:23- For some strange reason. - MARTIN LAUGHS
0:19:23 > 0:19:26I decided to just jump in and buy something.
0:19:26 > 0:19:29- Right, is this the first one you've bought?- It is, through the auction, yes.
0:19:29 > 0:19:31Was it sort of the romantic in you, wanting to do the churches,
0:19:31 > 0:19:35- up into amazing buildings? - Yes, basically, yes.
0:19:35 > 0:19:38I think live in a church and do it up while you were living in it
0:19:38 > 0:19:43and, you know, sort of just live some sort of bizarre film lifestyle.
0:19:43 > 0:19:45Well, yes, I guess so. Fantastic.
0:19:45 > 0:19:48- Something with a big organ would have been nice.- Yes.
0:19:48 > 0:19:50But not to be on this occasion.
0:19:50 > 0:19:53No, this was purely sort of sensible, I think,
0:19:53 > 0:19:55and buy something, and something small,
0:19:55 > 0:19:59- something you can manage and maybe actually do and finish. - Right, OK.
0:19:59 > 0:20:03Property development is not Andrew's day job.
0:20:03 > 0:20:05He's an automation engineer.
0:20:05 > 0:20:09And, erm, I'm not quite sure I know what that is, either.
0:20:09 > 0:20:11# No way to control it
0:20:11 > 0:20:14# It's totally automatic... #
0:20:16 > 0:20:20It's when you've got, usually, a reasonably large house
0:20:20 > 0:20:22and you automate it to...
0:20:22 > 0:20:25well, the customer's specifications, whether it is heating blinds,
0:20:25 > 0:20:29lighting. Pretty much whatever they want, and whether they want to control
0:20:29 > 0:20:32- it from within the house, so pretty much anywhere in the world.- Wow.
0:20:32 > 0:20:36- So what can you automate?- Anything you want. I can't do ironing.
0:20:36 > 0:20:38But pretty much, up to ironing, anything.
0:20:38 > 0:20:42- What, like turn the washing machine on?- If you want to, yes. - Run a bath?- Yes.
0:20:42 > 0:20:45Fridge... Can programme the fridge so it will order your food for you
0:20:45 > 0:20:47when you run out of certain things as well.
0:20:47 > 0:20:49MARTIN LAUGHS
0:20:49 > 0:20:53- Can't do the hoovering, though, I would imagine.- Yes, can do the hoovering.- What?!
0:20:53 > 0:20:54How do you do the hoovering?!
0:20:54 > 0:20:57We have robotic, little round robotic Hoovers that go
0:20:57 > 0:21:00- and hide on each floor. They come out when you're out, do the hoovering.- Whoa!
0:21:00 > 0:21:04- What's the most extravagant thing somebody has asked you to do? - I don't know. I mean,
0:21:04 > 0:21:05there is running a bath. I think...
0:21:05 > 0:21:08You haven't quite got home and you fancy a bath, so you don't want
0:21:08 > 0:21:12to wait for the bath, so you can programme the bath to actually fill.
0:21:12 > 0:21:14So, I mean, that is reasonably extravagant,
0:21:14 > 0:21:17because that takes quite a lot of doing, to actually know the bath
0:21:17 > 0:21:19is not going to overfill and you end up that it has
0:21:19 > 0:21:21come through the ceiling by the time you get home.
0:21:21 > 0:21:24I'm doing one at the moment
0:21:24 > 0:21:27so a chap can turn his children's bedrooms off in the day,
0:21:27 > 0:21:30because they're not revising, so we're shutting...
0:21:30 > 0:21:32the actual bedrooms down completely in the day.
0:21:32 > 0:21:36So then they have to... They have to go downstairs and study in the office.
0:21:36 > 0:21:40This sounds like something from a film, not from real life!
0:21:41 > 0:21:43MUSIC: Monster by The Automatic
0:21:43 > 0:21:46Talking of films, Andrew has appeared in one.
0:21:46 > 0:21:50I wonder, given his occupation, did he play the part of
0:21:50 > 0:21:53a mad scientist controlling an army of evil robots?
0:21:55 > 0:22:00# What's that coming over the hill? Is it a monster? Is it a monster? #
0:22:00 > 0:22:03The only one sort of major, I was a zombie in a movie.
0:22:03 > 0:22:05- You were a zombie in a movie?- Yeah.
0:22:05 > 0:22:07- What did you have to do?- Twitch.
0:22:07 > 0:22:09- Twitch?- Yes, mainly twitch
0:22:09 > 0:22:11and look zombie-ish.
0:22:11 > 0:22:13THEY LAUGH
0:22:13 > 0:22:16So, you didn't get any calls asking for your services after that?
0:22:16 > 0:22:18No, I obviously...
0:22:18 > 0:22:20I don't know if I overstretched being a zombie
0:22:20 > 0:22:22and I should have maybe been something else.
0:22:22 > 0:22:24HE LAUGHS
0:22:24 > 0:22:27But, it was an interesting sort of few days,
0:22:27 > 0:22:28running round and dressed up as a zombie.
0:22:28 > 0:22:30MARTIN LAUGHS
0:22:32 > 0:22:36Well, with his career as a screen zombie firmly behind him,
0:22:36 > 0:22:40Andrew's task is now to bring life back into this three-bed terrace.
0:22:40 > 0:22:41So, what's his plan?
0:22:42 > 0:22:44You know, it doesn't really look that bad
0:22:44 > 0:22:47so I think it's going to be more decorating than anything else,
0:22:47 > 0:22:51other than the bathroom and some other little bits.
0:22:51 > 0:22:53I think mainly decorating and some bits of flooring and things
0:22:53 > 0:22:56- and see where we go from there. - Right.
0:22:56 > 0:22:58So, the layout's staying pretty much as it is.
0:22:58 > 0:23:00I mean, it sort of works, it's not to everyone's taste
0:23:00 > 0:23:02but it does work as it is, sort of, doesn't it?
0:23:02 > 0:23:05I think to change it is going to be a bit expensive for what it is.
0:23:05 > 0:23:09It would be lovely to have at least a toilet upstairs, but...
0:23:09 > 0:23:13- I think it's a little bit sort of, you know, you would be wasting money.- Sure.
0:23:13 > 0:23:15So, what's the budget?
0:23:15 > 0:23:18Well, as I didn't actually see the property, I didn't have a budget.
0:23:18 > 0:23:19- You didn't see the property?- No, no.
0:23:19 > 0:23:23- After all this time at the auctions, you didn't see the property?- I saw other properties.
0:23:23 > 0:23:25Oh, right. That's useful then(!)
0:23:25 > 0:23:27Well, you know, I got an idea of what they might look like.
0:23:27 > 0:23:32- I... You know, I was thinking sort of 2 or 3,000.- OK.
0:23:32 > 0:23:35But, the budget is reduced cos I just took the kids on holiday
0:23:35 > 0:23:38so I have got less budget now, so we'll see how we go.
0:23:38 > 0:23:41So, what's the timescale for getting it sorted, then?
0:23:41 > 0:23:44I'm going to say six months, what everybody says,
0:23:44 > 0:23:46cos I'm not going to overly rush it.
0:23:46 > 0:23:48I'm quite busy as well in the daytime
0:23:48 > 0:23:51- so it's going to be an evening thing, so...- OK.
0:23:51 > 0:23:52I know a couple of people.
0:23:52 > 0:23:56I've got a colleague that works with me and he lives quite nearby.
0:23:57 > 0:24:00- Great.- So, I'm hoping maybe a fridge and some drinks
0:24:00 > 0:24:03and some evenings working on it, really, so...
0:24:03 > 0:24:05- Oh, yeah. Mates' rates.- Yeah.
0:24:05 > 0:24:08Well, mates' help. Well, listen, congratulations
0:24:08 > 0:24:11- and good luck with it.- Cheers. - It's really nice to meet you. - Cheers, you too, thanks.
0:24:13 > 0:24:15So, after a year of visiting the auctions,
0:24:15 > 0:24:19Andrew buys a house without viewing at first.
0:24:19 > 0:24:20Tut, tut.
0:24:20 > 0:24:22However, I think he's got a great property here
0:24:22 > 0:24:26and it sounds like it could end up being the most sophisticated
0:24:26 > 0:24:28and hi-tech property on the street.
0:24:29 > 0:24:32How automated will it be when we return?
0:24:32 > 0:24:34You can find out later in the show.
0:24:37 > 0:24:41Still to come, I discover a mould problem in Middleton near Manchester.
0:24:42 > 0:24:44I can't see any vents in this room.
0:24:44 > 0:24:46The air can't circulate in here.
0:24:47 > 0:24:50- And talking of FUN GUY... - HE LAUGHS
0:24:50 > 0:24:53..Andrew tells us what happened to his renovation budget.
0:24:53 > 0:24:55I drove through the Alps and bought lots of wine.
0:25:00 > 0:25:03We now return to Woodford Green in Greater London,
0:25:03 > 0:25:06where earlier I visited this two-bedroom upper flat,
0:25:06 > 0:25:10situated on a quiet cul-de-sac but close to the M11.
0:25:14 > 0:25:16Outside, all was tranquil,
0:25:16 > 0:25:19but in the flat, something was disturbing the peace.
0:25:20 > 0:25:22Something I am noticing...
0:25:22 > 0:25:24LOUD CREAKING
0:25:24 > 0:25:26- SHE LAUGHS - It's really bloomin' noisy.
0:25:28 > 0:25:31Noisy underfoot and nasty overhead.
0:25:31 > 0:25:34These polystyrene ceiling tiles would have to be dealt with,
0:25:34 > 0:25:36as would this patterned plaster.
0:25:37 > 0:25:40You can't just sand this stuff off,
0:25:40 > 0:25:44because until the 1980s, this stuff often contained asbestos.
0:25:47 > 0:25:50These were all issues that would need to be addressed by new owner Yasin,
0:25:50 > 0:25:54who purchased the flat at auction for 196,000.
0:25:55 > 0:25:58Yasin runs a clothing company, but together with mum and dad
0:25:58 > 0:26:00was investing some money in properties to rent.
0:26:02 > 0:26:06He was realistic about what contribution he could make to the renovation.
0:26:07 > 0:26:11Anything I do, the builders will have to do again to repair, so...
0:26:11 > 0:26:13Apart from painting, maybe I could do a bit of painting,
0:26:13 > 0:26:16but apart from that, no, I'm useless...
0:26:16 > 0:26:18So, you're good at folding shirts and making clothes look nice
0:26:18 > 0:26:21but you can't get your hands dirty and peel the wallpaper off?
0:26:21 > 0:26:22Exactly, yeah.
0:26:23 > 0:26:27To make matters worse, his regular team of builders were unavailable
0:26:27 > 0:26:29and Yasin wasn't relishing the prospect
0:26:29 > 0:26:32of finding a completely new crew.
0:26:33 > 0:26:36Are you nervous about trying to find your new team of builders?
0:26:36 > 0:26:37Yes, the only reason...
0:26:37 > 0:26:40I don't know what the quality of work is going to be like.
0:26:40 > 0:26:42That's the only one issue I've got,
0:26:42 > 0:26:45because I know some people are very good and some people are not,
0:26:45 > 0:26:49and it's normally the finishing, especially with something like this, it's going to be the finishing.
0:26:54 > 0:26:56With a budget of £8-9,000
0:26:56 > 0:26:59and a timescale of four to five weeks,
0:26:59 > 0:27:01Yasin set off to find some builders
0:27:01 > 0:27:04who could turn this very tired and dated property
0:27:04 > 0:27:06into a modern and rentable commuter pad.
0:27:08 > 0:27:11Were his new builders up to the task? Let's take a look.
0:27:11 > 0:27:13MUSIC: Let In The Sun by Take That
0:27:13 > 0:27:15# Let in the sun
0:27:16 > 0:27:19# Let in the sun... #
0:27:21 > 0:27:24Well, the new builders appear to have broken through the storm clouds
0:27:24 > 0:27:26that were gathering over this project.
0:27:26 > 0:27:28It looks like they've done a great job.
0:27:30 > 0:27:33I think the work that was done was done to a very good standard,
0:27:33 > 0:27:36something I would have expected my regular builders to do,
0:27:36 > 0:27:38and the timeframe, very happy with the timeframe.
0:27:38 > 0:27:39It took four weeks.
0:27:39 > 0:27:41I was quite surprised
0:27:41 > 0:27:43cos when we did see the renovation after two days,
0:27:43 > 0:27:46they were practically halfway through the property
0:27:46 > 0:27:48so we were quite chuffed about that.
0:27:52 > 0:27:55The living room and bedrooms have had a complete overhaul.
0:27:55 > 0:28:00Gone are the potentially hazardous ceiling tiles and wall-coverings.
0:28:00 > 0:28:04Every surface has been plastered and decorated,
0:28:04 > 0:28:08and spotlights have replaced the central room-lights.
0:28:08 > 0:28:10And new flooring has been laid throughout the flat,
0:28:10 > 0:28:14meaning Yasin was able to eradicate all the squeaks.
0:28:14 > 0:28:16We've put in a thick underlay
0:28:16 > 0:28:18in the whole of the flat.
0:28:18 > 0:28:20The steps also were quite squeaky.
0:28:20 > 0:28:23We were thinking that they may even need changing,
0:28:23 > 0:28:26but once we got the carpet off, we realised that
0:28:26 > 0:28:29it just needed a bit of securing and once that was done, I think,
0:28:29 > 0:28:31we got rid of all the squeakiness. I think.
0:28:31 > 0:28:34# Let in the sun...! #
0:28:35 > 0:28:39Unfortunately, it wasn't just the sun that was let in.
0:28:39 > 0:28:41Once we got the plastering done
0:28:41 > 0:28:43and we started the paintwork,
0:28:43 > 0:28:46in the front living room we noticed there was damp coming through.
0:28:46 > 0:28:49One of my tilers we worked with previously
0:28:49 > 0:28:51noticed that, yes, there were some repairs
0:28:51 > 0:28:53that needed to be done in the roof.
0:28:53 > 0:28:57It cost us £1,050 with the scaffolding and the repairs.
0:28:57 > 0:28:58It could have been worse.
0:28:58 > 0:29:00But it was something that needed to be done.
0:29:03 > 0:29:06Yasin's original budget was £8,000-£9,000,
0:29:06 > 0:29:08but the unexpected roof repairs
0:29:08 > 0:29:11and the fact that the new builders were slightly more expensive
0:29:11 > 0:29:14meant that he ended up spending £11,000.
0:29:16 > 0:29:19There's one area of the property that hasn't had any impact
0:29:19 > 0:29:21on the budget whatsoever!
0:29:21 > 0:29:24# What you waiting, what you waiting, what you waiting
0:29:24 > 0:29:28# What you waiting, what you waiting, what you waiting for... #
0:29:28 > 0:29:31As you can most probably see, we haven't done nothing to it.
0:29:31 > 0:29:33But whoever does move in,
0:29:33 > 0:29:36they're more than welcome to put their own stamp on the garden.
0:29:36 > 0:29:40And, hopefully, whoever does move in, they stay here for long enough.
0:29:42 > 0:29:45And two people we hope will stay long enough to give us their opinion
0:29:45 > 0:29:47on this renovation...
0:29:47 > 0:29:49are these local estate agents.
0:29:49 > 0:29:53What will they make of the changes to Yasin's two-bed flat?
0:29:53 > 0:29:57Starting with the agent who viewed the property earlier.
0:29:57 > 0:30:00It looks very bright and clean.
0:30:00 > 0:30:02Kitchen and bathroom much improved.
0:30:02 > 0:30:06Overall it does look much better. More habitable.
0:30:06 > 0:30:07It's all very modern.
0:30:07 > 0:30:09It's all very clean.
0:30:09 > 0:30:11And you can move straight in -
0:30:11 > 0:30:13all you need to do is bring your personal belongings
0:30:13 > 0:30:16and, bang, you're in. I think it's presented well.
0:30:16 > 0:30:18Having completed the tour,
0:30:18 > 0:30:21who is this likely to appeal to?
0:30:21 > 0:30:23And is there a demand for this type of property?
0:30:25 > 0:30:27The flat will appeal to some first-time buyers
0:30:27 > 0:30:30and definitely to an investor.
0:30:30 > 0:30:32There's a strong demand for flats.
0:30:32 > 0:30:36There's a strong demand for everything in all the local areas.
0:30:36 > 0:30:41It's an absolute prime time to sell or let.
0:30:42 > 0:30:46With that in mind let's move swiftly on to values.
0:30:46 > 0:30:48Purchased for £196,000,
0:30:48 > 0:30:50Yasin has spent a further
0:30:50 > 0:30:52£11,000 on refurbishment
0:30:52 > 0:30:56bringing his total spend to £207,000.
0:30:56 > 0:31:00How much would this flat be worth if it went on the sales market?
0:31:03 > 0:31:05I think we could achieve a selling price
0:31:05 > 0:31:10in the region of £265,000-£270,000.
0:31:10 > 0:31:14This flat could resell for around
0:31:14 > 0:31:16£265,000.
0:31:18 > 0:31:20Well, that would earn Yasin a pre-tax profit
0:31:20 > 0:31:23of between 58,000 to 63,000.
0:31:23 > 0:31:27But it's always been his intention to keep the flat for rental,
0:31:27 > 0:31:30so what do the agents reckon he should be asking per month?
0:31:32 > 0:31:38Rental per calendar month of £1,100-£1,150.
0:31:38 > 0:31:43This flat could rent for £1,100 per calendar month.
0:31:43 > 0:31:48And that would give Yasin and his family a yield of around 6.5%.
0:31:50 > 0:31:53We've actually secured two deposits at the moment.
0:31:53 > 0:31:55It just depends on who we want to go for.
0:31:55 > 0:31:58One's actually slightly higher than the figures you've given us,
0:31:58 > 0:32:00depending on whether we give it furnished or unfurnished.
0:32:00 > 0:32:02So, yes, spot-on, I'd say.
0:32:03 > 0:32:07So, slightly over budget, but bang on schedule.
0:32:07 > 0:32:08Has Yasin enjoyed this project?
0:32:11 > 0:32:13I am glad that it's done, but it definitely was...
0:32:13 > 0:32:16It was a bit of a rocky ride. I don't like stress.
0:32:16 > 0:32:19I like things to be done sort of quiet and smoothly,
0:32:19 > 0:32:21so every time there's a phone call from a builder
0:32:21 > 0:32:23it's always a big sigh before I answer.
0:32:23 > 0:32:26But I'm glad it was done. It was quite quick and painless, so...
0:32:26 > 0:32:28It was good.
0:32:33 > 0:32:37Middleton is a Lancashire town that sits within Greater Manchester.
0:32:37 > 0:32:41Its industrial roots lay in cotton and silk production,
0:32:41 > 0:32:44but these days it's a popular commuter town.
0:32:45 > 0:32:48Sitting on Middleton's doorstep is Heaton Park.
0:32:50 > 0:32:54At 600 acres, it's one of the largest in Europe,
0:32:54 > 0:32:57and has played host to some of Britpop's finest acts,
0:32:57 > 0:32:59including Oasis and The Stone Roses.
0:32:59 > 0:33:02MUSIC: Some Might Say by Oasis
0:33:02 > 0:33:05So this property is close to everything -
0:33:05 > 0:33:08a short walk from Heaton Park and the local supermarket
0:33:08 > 0:33:11and it's only a stone's throw from three major motorways.
0:33:11 > 0:33:15It's a one-bed flat with a guide price of £20,000-£25,000.
0:33:15 > 0:33:17I'm going to have a look.
0:33:20 > 0:33:23From the outside this property doesn't look too great.
0:33:23 > 0:33:26Ideally what's required is getting an agreement from the occupants
0:33:26 > 0:33:29to look after these communal areas,
0:33:29 > 0:33:31but sometimes that's easier said than done.
0:33:32 > 0:33:34OK, so what have we got?
0:33:34 > 0:33:37A small area, first and foremost.
0:33:37 > 0:33:39This is a bit, er, strange.
0:33:39 > 0:33:41Some kind of partition as you come through.
0:33:41 > 0:33:44But, I can actually see why they've done this.
0:33:44 > 0:33:45This is the meter here.
0:33:45 > 0:33:48Now, to move these it can be quite expensive.
0:33:48 > 0:33:49You'd have to leave this here
0:33:49 > 0:33:52and maybe make a feature of it - put some shelving up?
0:33:52 > 0:33:54Just make use of that space there.
0:33:54 > 0:33:58Anyway, nice-sized lounge for a one-bed flat. Tidy it up.
0:33:58 > 0:34:00I can't see any central heating anywhere.
0:34:00 > 0:34:02Kitchen through here.
0:34:02 > 0:34:03Needs to be ripped out.
0:34:03 > 0:34:05Needs to be made brand-new.
0:34:05 > 0:34:09But, again, a decent-sized kitchen for a small one-bed flat.
0:34:09 > 0:34:10Not bad, not bad.
0:34:11 > 0:34:13OK, so you've got a bathroom there...
0:34:13 > 0:34:16Small bathroom, but you could just tidy that up.
0:34:16 > 0:34:17Put a new system in there.
0:34:17 > 0:34:20You can keep the cobwebs if you want - that's optional!
0:34:20 > 0:34:21Through to the bedroom.
0:34:21 > 0:34:23You can see here this is...
0:34:23 > 0:34:25To me it looks like some kind of condensation
0:34:25 > 0:34:27which has turned into mould.
0:34:27 > 0:34:29I can't see any vents in this room.
0:34:29 > 0:34:31The air can't circulate in here,
0:34:31 > 0:34:33so that's what would've happened there.
0:34:33 > 0:34:37Over here I can see some kind of...
0:34:37 > 0:34:39Some kind of, I don't know... Some kind of thermostat?
0:34:39 > 0:34:41There's one in the lounge, as well.
0:34:41 > 0:34:43There would've been some heating here at some stage.
0:34:43 > 0:34:45But I haven't seen one of these before.
0:34:45 > 0:34:48# It was the heat of the moment
0:34:49 > 0:34:52# Heat of the moment... #
0:34:52 > 0:34:56Of course, I'm far too young to remember the '70s,
0:34:56 > 0:34:59but these wall thermostats are a relic from that era.
0:34:59 > 0:35:03It goes without saying that a functioning central-heating system
0:35:03 > 0:35:05is a must, as is proper ventilation,
0:35:05 > 0:35:07otherwise the condensation and mould
0:35:07 > 0:35:09will keep returning.
0:35:10 > 0:35:13Another thing that thrives in these conditions
0:35:13 > 0:35:15are these eight-legged critters.
0:35:15 > 0:35:17Daddy-longlegs spiders, or cellar spiders.
0:35:19 > 0:35:23As the name suggests, they usually live in cool, dark and damp places,
0:35:23 > 0:35:26but I think the lack of heating and ventilation here
0:35:26 > 0:35:29has made this place just as attractive.
0:35:29 > 0:35:31Next stop, the garden.
0:35:33 > 0:35:35So, round the back of the property
0:35:35 > 0:35:36it has been neglected slightly.
0:35:36 > 0:35:38A bit weedy.
0:35:38 > 0:35:39As you may be able to hear,
0:35:39 > 0:35:42the motorway is just over the back there, behind those houses.
0:35:42 > 0:35:45But there's a bit of space if they were to tidy it up.
0:35:45 > 0:35:47You could maybe use it.
0:35:47 > 0:35:50But the bonus is, this property does come with a garage.
0:35:50 > 0:35:52Which one it is...I'm not too sure.
0:35:53 > 0:35:55# I've been driving in my car... #
0:35:55 > 0:35:57Even if you don't use it for the car,
0:35:57 > 0:36:02the garage is handy as extra storage space, or you could even rent it out.
0:36:02 > 0:36:04Yes, it makes this flat
0:36:04 > 0:36:06just a bit more appealing.
0:36:07 > 0:36:10But what would a local property expert make of it all?
0:36:10 > 0:36:13Yes, definitely popular with commuters.
0:36:13 > 0:36:14The road to Middleton,
0:36:14 > 0:36:16and our sort of well-respected areas.
0:36:16 > 0:36:19We have people who've lived here for a very long time
0:36:19 > 0:36:21who are quite proud of their own town.
0:36:21 > 0:36:24We're approximately five miles away from Manchester city centre,
0:36:24 > 0:36:29and we do have Bowker Vale Metrolink station only a mile away.
0:36:29 > 0:36:32We do have local bus routes just round the corner from here
0:36:32 > 0:36:34going direct into Manchester city centre,
0:36:34 > 0:36:38and we are on the doorstep of junction 19 of the M60.
0:36:41 > 0:36:43So, top marks for location
0:36:43 > 0:36:45and transport links, but what about the flat itself?
0:36:47 > 0:36:49I think this property does have a lot of potential,
0:36:49 > 0:36:53and we would definitely recommend a simple renovation throughout.
0:36:55 > 0:36:57What might this flat earn in rental terms?
0:36:57 > 0:36:59Once this property is renovated,
0:36:59 > 0:37:01we could be looking at a rental market
0:37:01 > 0:37:05for approximately £400 per calendar month.
0:37:06 > 0:37:09And bearing in mind the £20,000-£25,000 guide price,
0:37:09 > 0:37:12what could it sell for once renovated?
0:37:12 > 0:37:14I think in the sales market at the moment
0:37:14 > 0:37:17this property could achieve up to £40,000.
0:37:17 > 0:37:19So it is what it is.
0:37:19 > 0:37:21It is a one-bed flat,
0:37:21 > 0:37:22but the merits are its price,
0:37:22 > 0:37:24and it is close to everything.
0:37:24 > 0:37:27Now, it does make sense to buy a property like this
0:37:27 > 0:37:28which is close to a big city.
0:37:28 > 0:37:31Let's see who agreed when it went under the hammer.
0:37:31 > 0:37:34This is a one-bedroom ground-floor apartment
0:37:34 > 0:37:37situated in a highly convenient location.
0:37:37 > 0:37:39£20-£25,000 your guide.
0:37:39 > 0:37:40So, where are we going to start?
0:37:40 > 0:37:43First bid of the day, say 20 to get it started.
0:37:43 > 0:37:44At £20,000, am I bid?
0:37:44 > 0:37:46At £20,000, then.
0:37:46 > 0:37:4815. Need a bid.
0:37:48 > 0:37:50At £15,000.
0:37:50 > 0:37:5215 here. At 15, I'm bid.
0:37:52 > 0:37:53In ones, nice and easy.
0:37:53 > 0:37:5516 behind you. 17 in the front.
0:37:55 > 0:37:57Back in at 18 behind you.
0:37:57 > 0:37:59In the front, sir, at 19.
0:37:59 > 0:38:01Can you at 20, behind?
0:38:01 > 0:38:03Thinking about it. New bidder.
0:38:03 > 0:38:0420.
0:38:04 > 0:38:0521.
0:38:05 > 0:38:0722. 22, I'm bid.
0:38:07 > 0:38:0823.
0:38:08 > 0:38:1024.
0:38:10 > 0:38:1125.
0:38:11 > 0:38:1326.
0:38:13 > 0:38:1426, I'm bid. Thank you.
0:38:14 > 0:38:1627? Shake of the head.
0:38:16 > 0:38:18With you at £26,000. Are we done?
0:38:18 > 0:38:20At...
0:38:20 > 0:38:2226 and a half, I'll take it.
0:38:22 > 0:38:2427.
0:38:24 > 0:38:26Half?
0:38:27 > 0:38:30With you, sir, on the end at £27,000. We're here to sell.
0:38:30 > 0:38:32First time.
0:38:32 > 0:38:33Second time.
0:38:33 > 0:38:36Third time. Are you all out?
0:38:36 > 0:38:37Well done.
0:38:37 > 0:38:40So, with that bid of £27,000
0:38:40 > 0:38:42it was Calvin who walked off with the property.
0:38:44 > 0:38:46Calvin is a self-employed plasterer
0:38:46 > 0:38:48and is gradually making the move
0:38:48 > 0:38:50into full-time property development.
0:38:51 > 0:38:54We met back at the flat for a chat.
0:38:54 > 0:38:56He's a young man with a bright future.
0:38:57 > 0:38:59# The future's so bright
0:38:59 > 0:39:00# I've gotta wear shades... #
0:39:00 > 0:39:02Calvin, nice to meet you.
0:39:02 > 0:39:04- Nice to meet you, too. - Congratulations.- Thank you.
0:39:04 > 0:39:07Tell us about your experience at the auction. How was it?
0:39:07 > 0:39:09Nerve-racking, but I enjoyed it.
0:39:09 > 0:39:10- First time?- First time, yeah.
0:39:10 > 0:39:12Lunchtime break at work.
0:39:13 > 0:39:15Pop to the auction.
0:39:15 > 0:39:17I set out knowing I was going to get it.
0:39:17 > 0:39:19And I got it, so...
0:39:19 > 0:39:21- A bit of confidence there. - Confidence.
0:39:21 > 0:39:23And what made you want this particular property?
0:39:23 > 0:39:25Why here? Do you know this area well?
0:39:25 > 0:39:26Erm... I know it.
0:39:26 > 0:39:29Not too well, but I know of it.
0:39:29 > 0:39:31And price.
0:39:31 > 0:39:33And it's small enough.
0:39:33 > 0:39:34Good to manage.
0:39:34 > 0:39:37I can get here fast if anything ever goes wrong.
0:39:37 > 0:39:40- And who will be here when you're not here?- Probably my labourers.
0:39:40 > 0:39:42Keeping an eye on.
0:39:42 > 0:39:45Keeping things ticking over the odd day or two while I'm not here.
0:39:45 > 0:39:48But other than that I'm hoping to be here myself.
0:39:48 > 0:39:51- Most of the time? - For the rest of the time, yeah.
0:39:51 > 0:39:57MASTERMIND THEME MUSIC
0:39:57 > 0:40:00Calvin sounds like he knows what he's doing,
0:40:00 > 0:40:02and has done most of the required homework.
0:40:02 > 0:40:05But as he's a fan of Homes Under The Hammer,
0:40:05 > 0:40:07it's time for a little test.
0:40:07 > 0:40:09MASTERMIND THEME
0:40:09 > 0:40:11Did you view the property?
0:40:11 > 0:40:13- No.- You didn't?!- No.
0:40:13 > 0:40:16So, you broke one of the Hammer rules, you see.
0:40:16 > 0:40:18Yeah. The main one that always pops up on the show, but...
0:40:18 > 0:40:21I seen one similar to it in the area, so...
0:40:21 > 0:40:25I know there's nothing much could come up.
0:40:29 > 0:40:30Apart from one incorrect answer,
0:40:30 > 0:40:34Calvin knows his specialised subject pretty well.
0:40:34 > 0:40:36Being familiar with the area can compensate
0:40:36 > 0:40:39for buying a property blind,
0:40:39 > 0:40:42but nothing beats stepping over the threshold.
0:40:42 > 0:40:45So, what does Calvin think he'll do with this place?
0:40:45 > 0:40:47I intend to sell, but with it being in a good location,
0:40:47 > 0:40:50I think that, you know...
0:40:50 > 0:40:53the long-term gains is in this property, so...
0:40:53 > 0:40:56- You're busting to start the work. - Yep.
0:40:56 > 0:40:58Tell us what you're going to do.
0:40:58 > 0:41:01Complete rip-out. New kitchen, bathroom.
0:41:01 > 0:41:03A bit of paintwork.
0:41:03 > 0:41:05New doors, architraves, skirting.
0:41:06 > 0:41:08New rewire, it looks like it's going to need.
0:41:08 > 0:41:10- A bit of heating, cos there's no heating.- Yeah.
0:41:10 > 0:41:14Odd bit of damp, here and there, but nothing that can't be sorted.
0:41:14 > 0:41:15- Nothing that you're scared of.- No.
0:41:15 > 0:41:18And what are you hoping to spend?
0:41:18 > 0:41:21Looking at it, you're probably talking about...
0:41:21 > 0:41:23- five, six grand, tops.- OK.
0:41:23 > 0:41:26You'll have to sort of get rid of a lot of spiders.
0:41:26 > 0:41:27There's a few of them about!
0:41:27 > 0:41:29Yeah, there's a few of them about.
0:41:29 > 0:41:32- They'll be homeless after you've got the paint out.- Yeah, definitely.
0:41:32 > 0:41:34And how long do you hope it'll take
0:41:34 > 0:41:36to achieve what you want to achieve with the property?
0:41:36 > 0:41:39I reckon a good four, five weeks.
0:41:39 > 0:41:41Me being here.
0:41:41 > 0:41:43And what about the work itself?
0:41:43 > 0:41:45New bathroom, new kitchen...
0:41:45 > 0:41:48Is that your skill? Or will you get mates in...?
0:41:48 > 0:41:50I've got plumbers on standby.
0:41:50 > 0:41:51I've got electricians on standby.
0:41:51 > 0:41:54But with the fitting of the kitchen,
0:41:54 > 0:41:56I'll take that on, do that myself.
0:41:56 > 0:41:58Same with the bathroom.
0:41:58 > 0:42:00They'll put the main pipe works
0:42:00 > 0:42:03and I'll finish it off and retile.
0:42:03 > 0:42:05Decorate.
0:42:05 > 0:42:07- It's a doddle for you.- Yeah.
0:42:07 > 0:42:08Seems that way.
0:42:11 > 0:42:14Calvin has the division of labour well organised.
0:42:14 > 0:42:16It sounds like he'll be doing most of it himself,
0:42:16 > 0:42:21but he has left one very important job for his family.
0:42:23 > 0:42:26Yeah, probably just the removing of the spiders, and cleaning.
0:42:26 > 0:42:28- Get them to do the dirty work. - Yeah, just the dirty work.
0:42:28 > 0:42:30But, not so much.
0:42:30 > 0:42:35I mean, probably a few cousins helping with the clean-out.
0:42:37 > 0:42:39But, other than that, just tradesmen and myself, really.
0:42:39 > 0:42:42So, from this property... It's now your second property?
0:42:42 > 0:42:44- Yeah.- Do you intend to continue buying property?
0:42:44 > 0:42:46Do you intend to go back to the auction house?
0:42:46 > 0:42:49Yeah, I'll always continue trying to buy.
0:42:49 > 0:42:51So long as they're there for the right price,
0:42:51 > 0:42:53and I can get my hands on them, then... Yeah.
0:42:53 > 0:42:56But, then, further down the line,
0:42:56 > 0:42:58less hands-on, more management.
0:42:58 > 0:43:00- Get dirty when you need to. - Exactly.
0:43:00 > 0:43:03- Get your portfolio up, get some properties on board.- Yeah.
0:43:03 > 0:43:04- Always learning.- Exactly.
0:43:04 > 0:43:07- Listen, mate, I wish you all the best.- Yep.- Good luck.
0:43:07 > 0:43:10- I know it's going to turn out well. - Yeah. Definitely.
0:43:12 > 0:43:14So, Calvin is only 27 years old,
0:43:14 > 0:43:16but so mature with it.
0:43:16 > 0:43:19When I go to lunch I normally buy soup and a sandwich,
0:43:19 > 0:43:20Calvin goes and buys property -
0:43:20 > 0:43:22and a good property, at that.
0:43:22 > 0:43:24I wonder how he's going to get on.
0:43:24 > 0:43:26You can find out later on in the programme.
0:43:28 > 0:43:31We've already seen how one property's got along.
0:43:31 > 0:43:32But what about the other two?
0:43:32 > 0:43:35- Did they go according to plan or were there a few hiccups?- Let's find out.
0:43:38 > 0:43:42It's time to return to Penrhiwceiber in South Wales,
0:43:42 > 0:43:45where this traditional three-bed terrace
0:43:45 > 0:43:49was up for sale at a guide price of £25,000.
0:43:51 > 0:43:54Built on three levels, to cope with the sloping terrain,
0:43:54 > 0:43:57it had everything you could want in a house -
0:43:57 > 0:44:00just not necessarily where you would want it.
0:44:01 > 0:44:02It's not ideal, is it?
0:44:02 > 0:44:05Especially if you're upstairs in the bedrooms...
0:44:05 > 0:44:08Down two flights of stairs to use the loo in the middle of the night.
0:44:08 > 0:44:09No!
0:44:12 > 0:44:13With two flights of stairs
0:44:13 > 0:44:16separating the bedrooms from the bathroom,
0:44:16 > 0:44:18I was desperate to find a solution!
0:44:19 > 0:44:21# Hurry...
0:44:21 > 0:44:23# I want you to hurry... #
0:44:23 > 0:44:24I guess the 64 million question is
0:44:24 > 0:44:26could you get a bathroom up here?
0:44:26 > 0:44:28It's going to be quite a lot of effort,
0:44:28 > 0:44:31so it really depends on end use of the property.
0:44:31 > 0:44:33# Hurry!
0:44:33 > 0:44:35# Baby, hurry... #
0:44:36 > 0:44:38In no particular hurry was Andrew,
0:44:38 > 0:44:42who bought the house for £29,000.
0:44:42 > 0:44:44An automation engineer by profession,
0:44:44 > 0:44:48the list of things he could do to a house was impressive.
0:44:48 > 0:44:50- So, what can you automate? - Anything you want.
0:44:50 > 0:44:54I can't do ironing, but pretty much up to ironing, anything.
0:44:54 > 0:44:57- What, like turn the washing machine on?- If you want to, yes.- Run a bath?
0:44:57 > 0:45:01Yeah. The fridge can get a program so it'll order your food for you
0:45:01 > 0:45:03when you run out of certain things.
0:45:03 > 0:45:06- Can't do the hoovering either, I'd imagine.- Yeah, do the hoovering.
0:45:06 > 0:45:07What?!
0:45:09 > 0:45:11That's all well and good, Andrew,
0:45:11 > 0:45:13but what will you do to this place?
0:45:13 > 0:45:15We're back eight months later
0:45:15 > 0:45:17to see how many hi-tech gadgets
0:45:17 > 0:45:22Andrew could install with his modest £2,000-£3,000 budget.
0:45:22 > 0:45:24Have things gone as well as could be expected?
0:45:24 > 0:45:27MUSIC: Wallace & Gromit's The Wrong Trousers
0:45:37 > 0:45:40Although everything is very clean and tidy,
0:45:40 > 0:45:42it's all looking quite familiar.
0:45:45 > 0:45:47Andrew has been saving cash by recycling
0:45:47 > 0:45:49rather than replacing.
0:45:49 > 0:45:52Nowhere is this more apparent than in the kitchen.
0:45:57 > 0:46:00With the kitchen itself, we were very, very lucky
0:46:00 > 0:46:03because we actually managed to save all the units,
0:46:03 > 0:46:06which was a bit unbelievable when we came in for the first time.
0:46:06 > 0:46:08We've saved all the wallpaper.
0:46:08 > 0:46:11That's all just been decorated, painted.
0:46:11 > 0:46:13The kitchen units have all been cleaned up,
0:46:13 > 0:46:15which took a lot of work.
0:46:15 > 0:46:18The actual doors and windows were actually cleaned with toothbrushes,
0:46:18 > 0:46:20and some special cleaning detergent.
0:46:20 > 0:46:22And that was a lot of work, as well.
0:46:22 > 0:46:26But for the amount of stuff that has been replaced in here,
0:46:26 > 0:46:29which is very negligible, I think it looks very good.
0:46:34 > 0:46:37Circumstances have changed for Andrew since we last spoke,
0:46:37 > 0:46:39and he's now living here full time.
0:46:39 > 0:46:42So, any thoughts of renting or selling
0:46:42 > 0:46:44have been put to one side for the time being.
0:46:44 > 0:46:47Although not quite in show-home condition,
0:46:47 > 0:46:50there has obviously been a lot of hard work done.
0:46:50 > 0:46:52Andrew must be exhausted!
0:46:54 > 0:46:57My time over the last couple of months
0:46:57 > 0:47:00has been very short. I've recently set up a new company,
0:47:00 > 0:47:05so I didn't have any time at all to put into the property.
0:47:05 > 0:47:07Erm... Probably about two months ago,
0:47:07 > 0:47:10we started doing the main sort of cleaning, and starting to work on it.
0:47:10 > 0:47:13I say "we", I've done very little myself.
0:47:13 > 0:47:15So it's mainly been the ex-wife who's done most of the work
0:47:15 > 0:47:18and most of the decorating and all of the cleaning.
0:47:18 > 0:47:22She likes decorating. She's always been interested in decorating.
0:47:22 > 0:47:24It would be a nice project for her, really -
0:47:24 > 0:47:26to actually come and save my bacon.
0:47:29 > 0:47:32Melanie, Andrew's ex-wife, has not just saved his bacon,
0:47:32 > 0:47:35she's saved him a lot in labour costs, too.
0:47:37 > 0:47:41# Save me... #
0:47:41 > 0:47:45And there's another factor that is saving him a few quid -
0:47:45 > 0:47:46the next-door neighbour.
0:47:46 > 0:47:49It is fantastically warm, all the time.
0:47:49 > 0:47:51And that's the biggest complaint - the fact it is so warm.
0:47:51 > 0:47:53There's no heating on,
0:47:53 > 0:47:55but next-door has an open fire,
0:47:55 > 0:47:58so the one wall is always warm, all the time.
0:47:58 > 0:48:00And it just hits the rest of the house.
0:48:00 > 0:48:05# I'm gonna steal your fire... #
0:48:06 > 0:48:08With such a warm house, you'd be forgiven for thinking
0:48:08 > 0:48:12that a spot of gardening would be in order to get some cool, fresh air.
0:48:14 > 0:48:16No. I mean, weather hasn't been so good
0:48:16 > 0:48:20when we've been working on it, so we've done nothing outside as yet.
0:48:20 > 0:48:24Probably we'll paint the windowsills, clean the garden up,
0:48:24 > 0:48:25because it is still a jungle.
0:48:25 > 0:48:28Less of a jungle than it was last year,
0:48:28 > 0:48:31because things like sheds have appeared, and things,
0:48:31 > 0:48:32since the brambles died back.
0:48:32 > 0:48:36But that's probably just going to be cut back for the time being,
0:48:36 > 0:48:39and kept clear of bramble as much as we can.
0:48:41 > 0:48:43But the brambles in the back garden
0:48:43 > 0:48:46aren't the only thing Andrew has been cutting back.
0:48:46 > 0:48:49His budget also got a bit of a pruning.
0:48:49 > 0:48:51Unfortunately,
0:48:51 > 0:48:55I drove through the Alps and bought lots of wine,
0:48:55 > 0:48:59and had about 10 to 14 days with my kids in the Alps, camping,
0:48:59 > 0:49:01and playing and spending money.
0:49:01 > 0:49:04So when we came back... We hadn't had a budget at that time,
0:49:04 > 0:49:07and that was gone, so, erm...
0:49:07 > 0:49:10Maybe that's why we didn't work on anything at the end of last year.
0:49:10 > 0:49:13So, really, we have had no budget.
0:49:13 > 0:49:16It's been buying paint as we've come along, really.
0:49:16 > 0:49:20So I think we've probably spent about 2,000 on it, at the moment.
0:49:20 > 0:49:22MUSIC: Home Computer by Kraftwerk
0:49:22 > 0:49:25If I'm honest, I was hoping to see at least
0:49:25 > 0:49:28one robotic vacuum cleaner whizzing about,
0:49:28 > 0:49:32but despite that glaring omission, Andrew - or rather, Melanie -
0:49:32 > 0:49:34has created a comfortable home here.
0:49:37 > 0:49:41What will two local estate agents make of it all?
0:49:41 > 0:49:45And will some carpet and paint add significantly to the value?
0:49:45 > 0:49:48It still needs a lot of work to be carried out,
0:49:48 > 0:49:50to bring it up to standard,
0:49:50 > 0:49:53and to make it fit for letting.
0:49:53 > 0:49:54I think if it'd been mine,
0:49:54 > 0:49:57I'd have just taken what's considered probably the easy option,
0:49:57 > 0:49:59and sent a team of builders in
0:49:59 > 0:50:00to rip everything out and start again.
0:50:00 > 0:50:03But that would've cost me a lot more money.
0:50:04 > 0:50:06Yes, Andrew - money.
0:50:06 > 0:50:08The stuff that buys wine in the Alps.
0:50:08 > 0:50:10Although this is now his home,
0:50:10 > 0:50:13it is of course an investment of £31,000.
0:50:13 > 0:50:17So, do the agents think Andrew has spent wisely?
0:50:17 > 0:50:20What values do they place on this three-bed terrace?
0:50:23 > 0:50:25In the current market,
0:50:25 > 0:50:27and when it's fully finished,
0:50:27 > 0:50:31I would expect this property to achieve in the region of £65,000.
0:50:31 > 0:50:33And, in its current condition?
0:50:33 > 0:50:35If this property were to be offered for sale
0:50:35 > 0:50:39on the open market, I think it would sell for about £55,000.
0:50:39 > 0:50:41I have seen properties like this
0:50:41 > 0:50:43for about 65,000 on this street,
0:50:43 > 0:50:45but they don't seem to be selling.
0:50:45 > 0:50:47So I would think that is probably a little high.
0:50:47 > 0:50:49A sale at £55,000
0:50:49 > 0:50:54would make Andrew at tidy pre-tax profit of £24,000.
0:50:54 > 0:50:57But he's in no rush to move out.
0:50:57 > 0:51:00I'm relatively happy living here at the moment,
0:51:00 > 0:51:01and it's comfortable and it's warm,
0:51:01 > 0:51:04but if the market looks like the houses are selling in the area,
0:51:04 > 0:51:08and you could be achieving that sort of early 50s,
0:51:08 > 0:51:10I would be happy to sell at that.
0:51:16 > 0:51:19It's time to return to Middleton near Manchester,
0:51:19 > 0:51:24where earlier I visited this one-bed flat which was in desperate need of,
0:51:24 > 0:51:25well, everything, really.
0:51:27 > 0:51:29A new kitchen,
0:51:29 > 0:51:30a new bathroom,
0:51:30 > 0:51:32but, most of all, some central heating -
0:51:32 > 0:51:34the lack of which was causing a real problem
0:51:34 > 0:51:36in the bedroom.
0:51:36 > 0:51:40You can see here - this is condensation
0:51:40 > 0:51:41which has turned into mould.
0:51:41 > 0:51:44I can't see any vents in this room.
0:51:44 > 0:51:46The air can't circulate in here,
0:51:46 > 0:51:48so that's what would've happened there.
0:51:48 > 0:51:51Damp and mould weren't the only occupants -
0:51:51 > 0:51:54a fear of spiders would definitely be a drawback
0:51:54 > 0:51:56if you were purchasing this place.
0:51:57 > 0:52:00Outside it needed a good tidy up,
0:52:00 > 0:52:02but the good news was...
0:52:02 > 0:52:05This property does come with a garage.
0:52:05 > 0:52:07Which one it is...I'm not too sure.
0:52:10 > 0:52:14The new owner with a bid of £27,000 was Calvin,
0:52:14 > 0:52:17a self-employed plasterer.
0:52:17 > 0:52:19This was his second property renovation,
0:52:19 > 0:52:21and he was confident the experience
0:52:21 > 0:52:23he'd picked up on the first project
0:52:23 > 0:52:26would be put to good use here.
0:52:26 > 0:52:28With the fitting of the kitchen -
0:52:28 > 0:52:31I'll take that on, do that myself.
0:52:31 > 0:52:35Same with the bathroom - retile, decorate...
0:52:35 > 0:52:37- It's a doddle for you.- Yeah.
0:52:37 > 0:52:38Seems that way.
0:52:40 > 0:52:43Making him promise to clear the place of spiders,
0:52:43 > 0:52:45we left Calvin to get to work.
0:52:48 > 0:52:51Five months have passed and we're back to see
0:52:51 > 0:52:54if he's cleared the cobwebs, or if his budget has grown legs.
0:52:54 > 0:52:56Yuck!
0:53:10 > 0:53:14Well, Calvin's hard work has made such a difference in here!
0:53:16 > 0:53:19The spiders have been banished and the mould eradicated,
0:53:19 > 0:53:22and there's an extra bit of space at the front door.
0:53:22 > 0:53:24There used to be a big structure here.
0:53:24 > 0:53:26It was housing the old electric consumer unit.
0:53:26 > 0:53:30And what we did, we dismantled it, got rid of it,
0:53:30 > 0:53:32and we got the electric board
0:53:32 > 0:53:36to come in and reposition the new meter.
0:53:36 > 0:53:41Then, my electrician put a new consumer unit against this wall.
0:53:41 > 0:53:44And that's what we done with this space.
0:53:46 > 0:53:48Calvin has fitted a brand-new kitchen,
0:53:48 > 0:53:51and he's kept the same configuration,
0:53:51 > 0:53:53but with one important improvement.
0:53:54 > 0:53:57Within the kitchen, there was an old water cylinder
0:53:57 > 0:54:00which, obviously, supplied the hot water for the flat.
0:54:00 > 0:54:02But with it being so small in there,
0:54:02 > 0:54:05we decided to get rid of the water cylinder
0:54:05 > 0:54:08and go with a new under-sink water heater
0:54:08 > 0:54:11what provides instant hot water for washing your pots
0:54:11 > 0:54:13and your basin within the bathroom.
0:54:16 > 0:54:19The bathroom, too, has had a complete transformation.
0:54:19 > 0:54:21With it being so small,
0:54:21 > 0:54:24we was limited to things you could do within there.
0:54:24 > 0:54:26But after a bit of planning
0:54:26 > 0:54:28we've got there in the end,
0:54:28 > 0:54:30and we decided to go with a little wet room
0:54:30 > 0:54:32so it utilised the space to the maximum.
0:54:35 > 0:54:38Putting his trade as a plasterer to good use,
0:54:38 > 0:54:41Calvin stripped back every wall to the brick
0:54:41 > 0:54:44and then plaster sheeted and skimmed before final decoration.
0:54:46 > 0:54:51Did he manage to keep to his budget of £5,000-£6,000?
0:54:51 > 0:54:53Just over seven.
0:54:53 > 0:54:55So...
0:54:55 > 0:54:59I'm quite happy, because a lot of the finishing touches
0:54:59 > 0:55:01are a bit more than what
0:55:01 > 0:55:03I originally had in mind,
0:55:03 > 0:55:06so I'm pretty pleased with that.
0:55:08 > 0:55:12A little bit over budget, and he still has some snagging to sort out,
0:55:12 > 0:55:14but Calvin's eight-week schedule
0:55:14 > 0:55:16did run away with him a bit.
0:55:16 > 0:55:18Mainly because he took time off
0:55:18 > 0:55:21to get married to his fiancee Haley.
0:55:21 > 0:55:23I'm trying to do this property,
0:55:23 > 0:55:25but I also run my own business
0:55:25 > 0:55:27and I'm trying to fit working in around
0:55:27 > 0:55:29and we're planning a wedding.
0:55:29 > 0:55:33Just planning a wedding alone would be a lot stressful, so...
0:55:33 > 0:55:34I got there in the end.
0:55:38 > 0:55:41And talking of happy couples,
0:55:41 > 0:55:43here are two estate agents to tell us
0:55:43 > 0:55:45what they think of Calvin's renovation.
0:55:45 > 0:55:49Starting with the agent who previously visited the property.
0:55:49 > 0:55:51I think this property is a tidy
0:55:51 > 0:55:53and ready-to-move-into property.
0:55:53 > 0:55:56I think the changes to the property have been really practical,
0:55:56 > 0:55:58and they have been done to a really good standard.
0:55:58 > 0:56:01It's got some good features. Unfortunately, I think
0:56:01 > 0:56:04there are one or two finishes that still need to be done.
0:56:05 > 0:56:09Calvin may have to get his caulking gun out to seal a few gaps,
0:56:09 > 0:56:12but is there a gap in the local market for this type of flat?
0:56:14 > 0:56:16I think there is a huge demand for this
0:56:16 > 0:56:18type of properties in the local area,
0:56:18 > 0:56:21particularly for first-time buyers,
0:56:21 > 0:56:23and buy-to-let landlords.
0:56:24 > 0:56:26And so to values.
0:56:26 > 0:56:31Calvin has spent £34,000 on the purchase and renovation of this flat.
0:56:31 > 0:56:34What do the agents think it's worth on the rental market?
0:56:34 > 0:56:36I think on the rental market
0:56:36 > 0:56:40you're probably looking somewhere between
0:56:40 > 0:56:43£350 per calendar month, to £395 per calendar month.
0:56:43 > 0:56:47I think this property could achieve in the current rental market
0:56:47 > 0:56:50between £375 to £400 per calendar month.
0:56:50 > 0:56:53I know I can get about 425.
0:56:56 > 0:56:58A rental of £425 per calendar month
0:56:58 > 0:57:02would mean a very healthy return on his investment of 15%.
0:57:02 > 0:57:04How about the sales figures?
0:57:06 > 0:57:09In the current sales market I think this property could be achieving
0:57:09 > 0:57:11between £40,000 and £45,000.
0:57:11 > 0:57:13I think if we was putting it on the market,
0:57:13 > 0:57:17we'd probably put it on around £39,950.
0:57:17 > 0:57:20I reckon around £50,000-£54,000.
0:57:22 > 0:57:25So it's about 10... One of them's 15 off, and one's 10 off.
0:57:27 > 0:57:32Calvin seems pretty sure he can achieve a sale significantly higher
0:57:32 > 0:57:34than the estate agent valuations.
0:57:34 > 0:57:39His top estimate could mean a potential pre-tax profit of 16 grand.
0:57:39 > 0:57:41But with a very tempting rental yield
0:57:41 > 0:57:45of 15% on offer, what will he decide to do with this flat?
0:57:46 > 0:57:48I'll test the market out first,
0:57:48 > 0:57:52but, if not, then it will go down the rental side of things.
0:57:54 > 0:57:57And, finally, what's next for this budding property entrepreneur?
0:57:58 > 0:58:01I'll definitely go back to the auction,
0:58:01 > 0:58:03and if something comes up at the right price,
0:58:03 > 0:58:06and we can do it all over again, that would be great, yeah.
0:58:09 > 0:58:12So, that's what happened to the buyers on today's show.
0:58:12 > 0:58:15We'll see more properties next time on Homes Under The Hammer.
0:58:15 > 0:58:18- We look forward to seeing you then. Goodbye.- Goodbye.- Bye.