0:00:02 > 0:00:04Hello and welcome to the show. Now, there's no doubt about it.
0:00:04 > 0:00:06Buying property can cost a lot of money.
0:00:06 > 0:00:11Yes. It could be the most expensive purchase you've ever made, taking years and years of saving.
0:00:11 > 0:00:13Oh, yes. There's a lot at stake.
0:00:13 > 0:00:17It is so important to get it right and maybe you could buy your next home under the hammer.
0:00:43 > 0:00:46It's all very well having a firm plan in your head
0:00:46 > 0:00:49when buying property at auction but the best laid plans can go astray.
0:00:49 > 0:00:51They can, Dion.
0:00:51 > 0:00:53And it's OK to admit you were wrong
0:00:53 > 0:00:55and then to go about changing your plans.
0:00:55 > 0:00:58So, what did today's buyers have in their mind?
0:00:58 > 0:01:00Let's take a look at what they bought.
0:01:02 > 0:01:05In Hainault, Essex, I've got a plan to go into the loft
0:01:05 > 0:01:08and add a bedroom and a bathroom.
0:01:08 > 0:01:11And it will be much more saleable.
0:01:12 > 0:01:14No lofts at this bungalow in Stoke, Lucy,
0:01:14 > 0:01:17but cosmetic changes could create cash.
0:01:17 > 0:01:20That means you can add value and that's what we're looking for.
0:01:22 > 0:01:25And in Folkestone you could add value by uncovering this
0:01:25 > 0:01:27mid-terrace's original features.
0:01:27 > 0:01:30Get that on show. I like it. I really do.
0:01:33 > 0:01:35All these properties were bought at auction.
0:01:35 > 0:01:39We'll find out who got them and how much they paid when these homes went under the hammer.
0:01:39 > 0:01:41Yours at 99.
0:01:48 > 0:01:51We are in Hainault near Ilford in Essex.
0:01:51 > 0:01:53It lies north and east of central London
0:01:53 > 0:01:57and it's just over half an hour by Tube from here to the city.
0:01:59 > 0:02:03It's hard to believe now but most of this area once formed
0:02:03 > 0:02:07part of a 3,000 acre forest owned by a local abbey.
0:02:07 > 0:02:10Now, it's very much a bustling suburb
0:02:10 > 0:02:12with direct train links into London.
0:02:12 > 0:02:16The property I am here to see is on this busy main road. Here it is.
0:02:16 > 0:02:18It is a four-bedroom mid-terrace
0:02:18 > 0:02:23and it went to auction with a guide price of £250,000 plus.
0:02:23 > 0:02:26It looks all right from the outside. Let's go in.
0:02:27 > 0:02:31250 grand might seem like a high guide price,
0:02:31 > 0:02:35but the average house price in the area is about 293,000.
0:02:36 > 0:02:40Is it just this busy road that's making the guide price so attractive?
0:02:41 > 0:02:45It can get quite noisy there but once you are in...
0:02:46 > 0:02:49..look. Lovely and quiet. So, that's nice.
0:02:49 > 0:02:52First impressions, well, really nice hallway. Tatty.
0:02:52 > 0:02:55It needs everything doing. You can see straight away.
0:02:55 > 0:02:58New carpets, new flooring, paint, wallpaper.
0:02:58 > 0:03:01But it does feel like a family house.
0:03:01 > 0:03:04You've got a great size reception there with a nice bay window in the front.
0:03:04 > 0:03:07So you could really imagine a family in there.
0:03:07 > 0:03:10Downstairs loo. Big tick.
0:03:10 > 0:03:14And into a lovely open plan sort of dining space.
0:03:14 > 0:03:17I'm presuming through here, well,
0:03:17 > 0:03:20this is an extension leading right the way around to...
0:03:20 > 0:03:22Ta-dah! The kitchen.
0:03:22 > 0:03:26So this to me would work fabulously with a family.
0:03:26 > 0:03:29You could have a kitchen table over there, you could have sofas,
0:03:29 > 0:03:32you could see the kids, you could do the cooking.
0:03:32 > 0:03:34Look at that. That's a really nice butler sink.
0:03:34 > 0:03:38There are a few bits and pieces in this house I think you could salvage.
0:03:38 > 0:03:40A really nice oven as well.
0:03:40 > 0:03:45So, yes, with a bit of cleaning, some new carpets, some new paint,
0:03:45 > 0:03:50a bit of money spent down here, this could really work well for a family.
0:03:51 > 0:03:56And, out the back, there's a family sized garden with a handy little cabin, too.
0:03:56 > 0:03:59This could be a nice little spot of tranquillity
0:03:59 > 0:04:04because you can't hear a single sound from that busy road out here.
0:04:04 > 0:04:08# It's oh, so quiet
0:04:08 > 0:04:12# Sh! Sh!
0:04:12 > 0:04:15# It's oh, so still
0:04:15 > 0:04:17# Sh! Sh! #
0:04:17 > 0:04:19And if you need somewhere to park the car,
0:04:19 > 0:04:21there's this additional garage.
0:04:24 > 0:04:26Upstairs, there are three bedrooms
0:04:26 > 0:04:28and, again, they all have generous proportions.
0:04:30 > 0:04:33The bathroom is up here too and will need to be updated,
0:04:33 > 0:04:35but there's plenty of space to play with.
0:04:36 > 0:04:38So you've got a spacious layout,
0:04:38 > 0:04:42a little oasis of calm in the garden,
0:04:42 > 0:04:43some charming features,
0:04:43 > 0:04:48potential to add value and all just half an hour from central London.
0:04:48 > 0:04:50Pulls on the heart strings, doesn't it?
0:04:50 > 0:04:53# ..When you fall in love. #
0:05:02 > 0:05:06Now, up in the attic is the fourth and final bedroom.
0:05:06 > 0:05:10I'm not convinced that staircase is building reg compliant,
0:05:10 > 0:05:14so it's best to check this loft conversion has been done properly
0:05:14 > 0:05:16and all those boxes are ticked,
0:05:16 > 0:05:19but once you're up here, well, you've got some space,
0:05:19 > 0:05:21although putting in a proper dormer window along here
0:05:21 > 0:05:23I think will be the way to go.
0:05:23 > 0:05:25It'll allow for more square footage
0:05:25 > 0:05:27and you might even be able to think about
0:05:27 > 0:05:30squeezing in an en-suite bathroom up here.
0:05:30 > 0:05:33That would make this a four-bedroom, two-bathroom property
0:05:33 > 0:05:36and it'll be much more saleable.
0:05:37 > 0:05:40So although I said initially this was a four-bed house,
0:05:40 > 0:05:43until you know this room passes building regs,
0:05:43 > 0:05:45officially it isn't.
0:05:45 > 0:05:50Regulations that cover escape from fire, among others, need to be met.
0:05:50 > 0:05:52Let's talk to a local estate agent
0:05:52 > 0:05:54about what he thinks of this property,
0:05:54 > 0:05:56guided at £250,000.
0:05:58 > 0:06:02The property's brilliant and I like the size of the property,
0:06:02 > 0:06:04size of the room. There's room in the attic -
0:06:04 > 0:06:07if that room can be made to some use,
0:06:07 > 0:06:10then that will enhance the value of the property.
0:06:10 > 0:06:13Does this agent have any thoughts about the attic space as it stands?
0:06:13 > 0:06:15The attic, I think, you know,
0:06:15 > 0:06:17it's not building-compliant at the moment,
0:06:17 > 0:06:20but as long as we get a completion certificate from the local council,
0:06:20 > 0:06:23then that will add good value to the property.
0:06:25 > 0:06:28Let's talk numbers. Would a dormer be worth the hassle?
0:06:28 > 0:06:32First, resale price after a straight refurbishment.
0:06:32 > 0:06:35If the property is as it is refurbished
0:06:35 > 0:06:39and you don't add any additional accommodation to the property,
0:06:39 > 0:06:41and it is made of average standard,
0:06:41 > 0:06:45then it'll be worth £375,000.
0:06:45 > 0:06:47If you make the loft room bigger with the dormer,
0:06:47 > 0:06:50then the property will be worth around £400,000.
0:06:51 > 0:06:54Even taking into account the cost of putting in that dormer,
0:06:54 > 0:06:58it's safe to say it's well worth calling the council then
0:06:58 > 0:07:01for that £25,000 increase in resale value.
0:07:01 > 0:07:05What impact would an extra bed have on rentals?
0:07:05 > 0:07:07The rental value of this property,
0:07:07 > 0:07:10if it is just refurbished to an average standard,
0:07:10 > 0:07:13would be about £1,700 per calendar month.
0:07:13 > 0:07:17If it's been turned into a loft dormer and all that,
0:07:17 > 0:07:21it can fetch £2,000 or even in excess of £2,000 in the area.
0:07:21 > 0:07:23So this Hainault house needs a bit of work,
0:07:23 > 0:07:26but it's nothing too difficult or demanding.
0:07:26 > 0:07:30Basically, it's a straightforward property project for somebody,
0:07:30 > 0:07:34although I would check that loft is building reg compliant.
0:07:34 > 0:07:36Let's find out who bought it at the auction.
0:07:41 > 0:07:45Four-bed, fabulous-looking house. You can see, double bay.
0:07:45 > 0:07:48Value bids on this - 300, anywhere?
0:07:48 > 0:07:50300?
0:07:50 > 0:07:52Go the other way, then - 270.
0:07:52 > 0:07:54Not going to go below 270.
0:07:54 > 0:07:57270 in the front. 270.
0:07:57 > 0:07:59275.
0:07:59 > 0:08:01- There.- 275, got you.
0:08:01 > 0:08:03275, 280.
0:08:03 > 0:08:07Yep? 280. 285. 290, sir.
0:08:07 > 0:08:09295.
0:08:09 > 0:08:11300.
0:08:11 > 0:08:12305.
0:08:12 > 0:08:14306?
0:08:15 > 0:08:17That's it, 306. Try and help.
0:08:17 > 0:08:20305, standing up, with you.
0:08:20 > 0:08:22306, another spot there.
0:08:22 > 0:08:25- 307.- So bidding had slowed,
0:08:25 > 0:08:28but there was still a number of interested parties.
0:08:28 > 0:08:31We rejoin the bidding at 317,000.
0:08:32 > 0:08:34317, down here.
0:08:34 > 0:08:37318, what took you so long?
0:08:37 > 0:08:39Men are all sort of...
0:08:39 > 0:08:41Women just bid, men think too much.
0:08:41 > 0:08:43318, 319.
0:08:43 > 0:08:46320.
0:08:46 > 0:08:47321.
0:08:47 > 0:08:49322.
0:08:49 > 0:08:51322, back in.
0:08:51 > 0:08:53323, 324.
0:08:55 > 0:08:56325.
0:08:56 > 0:08:58326.
0:09:00 > 0:09:03325, then, first time. Second time.
0:09:03 > 0:09:06Third and last time, if you're all done.
0:09:06 > 0:09:07Sold, 325.
0:09:07 > 0:09:09Is that your first one?
0:09:09 > 0:09:10Yeah? Well done.
0:09:10 > 0:09:12# That's how I learned
0:09:12 > 0:09:14# There's always a first time
0:09:14 > 0:09:17# For everything... #
0:09:17 > 0:09:20So the hammer came down at 325,000
0:09:20 > 0:09:24and it was best pals and budding property developers Fatima,
0:09:24 > 0:09:25here on the left,
0:09:25 > 0:09:28and Mehreen that made the successful bid.
0:09:28 > 0:09:30This is their first development together,
0:09:30 > 0:09:32so I wanted to know their plans.
0:09:34 > 0:09:37- Ladies, congratulations.- Thank you very much.- Lovely to meet you both.
0:09:37 > 0:09:38- Thank you.- Fatima and Mehreen,
0:09:38 > 0:09:42I know you went to auction with a few properties in mind.
0:09:42 > 0:09:43You came away with this one.
0:09:43 > 0:09:46- How happy are you that you've got this property?- Very.
0:09:46 > 0:09:49Very. We really liked the location of this property -
0:09:49 > 0:09:51really good schools around
0:09:51 > 0:09:53and the excellent transport links to central London,
0:09:53 > 0:09:57- so it did...- And it's very close to where we live as well,
0:09:57 > 0:09:58so much easier for us to come
0:09:58 > 0:10:01and keep a check when the work's being done.
0:10:01 > 0:10:04So, Mehreen, how much research did you do, realistically,
0:10:04 > 0:10:05both of you, into this?
0:10:05 > 0:10:10A lot. I think we looked at around 15-20 properties,
0:10:10 > 0:10:13made spreadsheets, did market comparables, checked them out,
0:10:13 > 0:10:17- then we shortlisted it down to five properties?- Yep.
0:10:17 > 0:10:22So have you ladies decided recently to go into this business together?
0:10:22 > 0:10:25We're full-time mums and we wanted to do something and both of us
0:10:25 > 0:10:27were quite interested in the property business,
0:10:27 > 0:10:30property development, so we decided to work together
0:10:30 > 0:10:32- and this our very first own project. - Whoohoo!
0:10:32 > 0:10:35This is your first venture and we've got you!
0:10:35 > 0:10:37First auction, first house and here we are.
0:10:37 > 0:10:38THEY CHUCKLE
0:10:38 > 0:10:40# So these are the ropes
0:10:40 > 0:10:43# The tricks of the trade
0:10:43 > 0:10:46# The rules of the road... #
0:10:48 > 0:10:51If you want to succeed at buying property at auction,
0:10:51 > 0:10:55you could do worse than follow Fatima and Mehreen's example.
0:10:55 > 0:10:57They've viewed plenty of properties,
0:10:57 > 0:10:58did their research
0:10:58 > 0:11:01and went to auction with their finances in order.
0:11:01 > 0:11:04That's preparation indeed and that's what you need to do.
0:11:07 > 0:11:10What I want to know is what you both intend doing here,
0:11:10 > 0:11:12because, obviously, the game plan for you both
0:11:12 > 0:11:14is you need to add some value.
0:11:14 > 0:11:16Basically, we're planning to go into the loft room -
0:11:16 > 0:11:17the loft room at this stage,
0:11:17 > 0:11:20it doesn't have planning permission and it's really small,
0:11:20 > 0:11:23so we want to make it bigger, brighter, with dormer windows
0:11:23 > 0:11:25and we're going to put an en-suite in there,
0:11:25 > 0:11:27so that is going to convert this house
0:11:27 > 0:11:30from a three-bed property to a four-bed one
0:11:30 > 0:11:33and, secondly, this is on a major road,
0:11:33 > 0:11:35so we're going to add a driveway in front of the property as well,
0:11:35 > 0:11:37just to add more appeal to it.
0:11:37 > 0:11:39We want to change the kitchen, new kitchen, new bathroom,
0:11:39 > 0:11:42so give it a whole new, modern look -
0:11:42 > 0:11:43nice paint, spotlights,
0:11:43 > 0:11:46something which makes it look nicer and bigger.
0:11:46 > 0:11:49- Modernised, everything. - Yeah, basically just modernisation.
0:11:49 > 0:11:52OK, so you're really going to turn this into a family home, aren't you?
0:11:52 > 0:11:55Exactly, yes. We're really going to modernise it top to bottom
0:11:55 > 0:11:58- and we realise it's a lot of work, but we're all set for it.- Yeah.
0:11:58 > 0:12:00And you two have got so much energy,
0:12:00 > 0:12:03- cos it's the first one you've ever done.- Exactly.
0:12:03 > 0:12:06- We've been best friends since 12 years, so...- Yeah.
0:12:08 > 0:12:11Ah, best pals on a new adventure together.
0:12:11 > 0:12:13How great is that?
0:12:13 > 0:12:18Their budget is a healthy 30,000 with a £5,000 contingency.
0:12:18 > 0:12:20They're looking to sell the house,
0:12:20 > 0:12:22but if the profit isn't high enough for them,
0:12:22 > 0:12:25they'll rent it out until the value increases.
0:12:28 > 0:12:30What do their other halves think of them working together?
0:12:30 > 0:12:33- They're very happy. - They are very happy for us.
0:12:33 > 0:12:35They really want us to succeed, they want us to do well,
0:12:35 > 0:12:37so they've given us full support.
0:12:37 > 0:12:39- Good! - They're always there to help us.
0:12:39 > 0:12:41And her husband has done properties before as well.
0:12:41 > 0:12:45My husband's done property before. He's rented a few out at the moment.
0:12:45 > 0:12:49- He's sold a few. We've got a very nice builder at hand.- We do, yes.
0:12:49 > 0:12:52Yeah, we're quite positive about it all.
0:12:52 > 0:12:54But are you going to give each other certain roles?
0:12:54 > 0:12:56Sometimes it can work better that way.
0:12:56 > 0:12:58- Have you thought about doing it that way?- Not really.
0:12:58 > 0:13:01- Everything together at the same time?- We'll do it together.- Yeah.
0:13:01 > 0:13:04We're really organised, with spreadsheets and everything,
0:13:04 > 0:13:07so everything is just going to be very proper, very organised
0:13:07 > 0:13:08and we do it together.
0:13:08 > 0:13:09- Who's got the spreadsheets?- Me!
0:13:09 > 0:13:11THEY CHORTLE
0:13:11 > 0:13:13Do you think this might hinder the friendship in any way,
0:13:13 > 0:13:16shape or form, or do you think it'll only make the bond stronger?
0:13:16 > 0:13:18We think it'll make the bond stronger,
0:13:18 > 0:13:20because we're very honest with each other.
0:13:20 > 0:13:23- If we don't like something, we'll just say it to each other.- Yeah.
0:13:23 > 0:13:24I think that's the way to go about it.
0:13:24 > 0:13:27Let's hope you both make as much money as you want as well.
0:13:27 > 0:13:29- Thank you very much. - Thank you.- Well done.
0:13:29 > 0:13:30- Fatima.- Thank you.
0:13:30 > 0:13:32- Mehreen.- Thank you. - Lovely to meet you both.
0:13:32 > 0:13:35Friends Fatima and Mehreen are full-time mums
0:13:35 > 0:13:37and they've decided that property developing
0:13:37 > 0:13:39is a good business to get into.
0:13:39 > 0:13:42They've done all the planning and their builder is ready to go.
0:13:42 > 0:13:44This is their first project
0:13:44 > 0:13:47and it's the first one they've done as friends working together,
0:13:47 > 0:13:49so will getting into the property game
0:13:49 > 0:13:51put a strain on their friendship,
0:13:51 > 0:13:54or will this house mark the start of a great venture for the two of them?
0:13:54 > 0:13:58You can find out how the ladies get on later in the programme.
0:14:03 > 0:14:05I'm in Stoke today
0:14:05 > 0:14:09and in a residential area only two miles from the city centre.
0:14:09 > 0:14:13It seems that, here, the bungalow is king
0:14:13 > 0:14:14and why not?
0:14:14 > 0:14:18Single-storey living often comes with a good-sized floor plan
0:14:18 > 0:14:20on a decent-sized plot.
0:14:21 > 0:14:24And with bungalows rarely built these days,
0:14:24 > 0:14:26they're becoming much sought-after,
0:14:26 > 0:14:28all of which, from an investor's point of view,
0:14:28 > 0:14:31is enough to get the pulse racing.
0:14:31 > 0:14:35- # Could it be I'm falling in love - With ya, baby...- #
0:14:35 > 0:14:38So, for lots of reasons, we love bungalows
0:14:38 > 0:14:41and the one that was up for auction has something else going for it,
0:14:41 > 0:14:46because it's quite rare in the fact that it's a mid-terrace bungalow.
0:14:46 > 0:14:48Now, the reason why that's good is that maybe,
0:14:48 > 0:14:50if you buy a mid-terrace house, there's a possibility
0:14:50 > 0:14:53you might have noisy neighbours, something like that.
0:14:53 > 0:14:55Given the kind of person who genuinely chooses to live
0:14:55 > 0:14:58in a bungalow, it's more likely that you're going to have
0:14:58 > 0:15:00nice, quiet neighbours, so, bonus!
0:15:00 > 0:15:03Guide price for this one was £49,000 plus.
0:15:03 > 0:15:05Two bedrooms, let's take a look.
0:15:11 > 0:15:13So, what have we got?
0:15:13 > 0:15:16Well, straight away, walking through the front door
0:15:16 > 0:15:18into a good-sized lounge,
0:15:18 > 0:15:21but you can tell it's going to need a bit of modernisation.
0:15:21 > 0:15:24But, you know, you've got to see through its current condition
0:15:24 > 0:15:26to what it might become.
0:15:26 > 0:15:28It's a good size, it's got an open fire, so we like that.
0:15:28 > 0:15:30Just even by changing the carpets,
0:15:30 > 0:15:34either plastering or putting new wallpaper on the walls,
0:15:34 > 0:15:36what a change you would make.
0:15:36 > 0:15:39So, through into this little central area,
0:15:39 > 0:15:41off which come your bedrooms.
0:15:41 > 0:15:42First one there, that's a good size.
0:15:42 > 0:15:44Again, in need of modernisation.
0:15:44 > 0:15:47Second bedroom is over that way.
0:15:47 > 0:15:49Bathroom and loo there
0:15:49 > 0:15:51and then through to your kitchen.
0:15:51 > 0:15:54Now, it's pretty much like the rest of the house so far -
0:15:54 > 0:15:57not in the best of conditions.
0:15:57 > 0:16:02But, straight away, this place is screaming out - fantastic potential.
0:16:02 > 0:16:05Do that plasterwork, change the carpets, change the kitchen,
0:16:05 > 0:16:09do the bathroom and you would absolutely revolutionise this place.
0:16:09 > 0:16:13That means you can add value and that's what we're looking for.
0:16:13 > 0:16:15# Talking about a revolution
0:16:16 > 0:16:21# Cos finally the tables are starting to turn
0:16:21 > 0:16:24# Talking about a revolution, oh, no... #
0:16:24 > 0:16:28The key thing to any property investment is can you add value?
0:16:28 > 0:16:32And, preferably, can you add value without too much work?
0:16:32 > 0:16:36The answer with this bungalow looks to be a resounding, "Yes!"
0:16:36 > 0:16:40There doesn't at this stage appear to be any real structural issues.
0:16:44 > 0:16:48The roof's fine, but the windows and doors will need doing.
0:16:48 > 0:16:51The whole property needs a complete refurbishment -
0:16:51 > 0:16:54electrics, central heating,
0:16:54 > 0:16:57bathroom, kitchen,
0:16:57 > 0:16:58the lot.
0:16:58 > 0:17:00And, OK, that does sound like plenty of work,
0:17:00 > 0:17:03but nothing a competent builder couldn't cope with.
0:17:03 > 0:17:07Yes, it will cost, say, around £15,000 to do,
0:17:07 > 0:17:10but with a guide price that was £49,000 plus
0:17:10 > 0:17:12when the average price in the area for a bungalow
0:17:12 > 0:17:17is between £90,000-£100,000, well, you can see where the value is.
0:17:18 > 0:17:22So, out the back, and first of all into this conservatory.
0:17:22 > 0:17:24Now, this is a fairly substantial construction
0:17:24 > 0:17:26with the brick on the bottom here,
0:17:26 > 0:17:28but, above that, it all starts to go a bit horribly wrong.
0:17:28 > 0:17:32I think as a design concept, as in having a conservatory here -
0:17:32 > 0:17:34great idea, cos it's a brilliant way
0:17:34 > 0:17:37to extend the usable space of the bungalow
0:17:37 > 0:17:39and actually could be very pleasant,
0:17:39 > 0:17:42especially if you imagine it opening out into the garden.
0:17:42 > 0:17:43At the moment, again,
0:17:43 > 0:17:46you wouldn't necessarily want to stare out onto this,
0:17:46 > 0:17:48cos it's in a bit of a state, but a bit of tidying up
0:17:48 > 0:17:51and it could be really pleasant.
0:17:51 > 0:17:52Additional bonus -
0:17:52 > 0:17:55you've got a garage there with an access road, so that's good.
0:17:55 > 0:17:59All in all, it just adds to the general concept of this place,
0:17:59 > 0:18:02which is it's just waiting for somebody to grab it and go,
0:18:02 > 0:18:06"There you go, that's your potential," cos it's got lots.
0:18:06 > 0:18:10# Bend me, shape me, any way you want me
0:18:10 > 0:18:14# As long as you love me, it's all right... #
0:18:14 > 0:18:17Well, I think if it had been bought at the right price,
0:18:17 > 0:18:19this is a perfect investment opportunity.
0:18:22 > 0:18:24What does a local estate agent think?
0:18:26 > 0:18:27First impressions of the bungalow
0:18:27 > 0:18:30is that it does require, obviously, modernisation.
0:18:30 > 0:18:32A lot of it is cosmetic.
0:18:32 > 0:18:35I think one of the big selling points of the bungalow
0:18:35 > 0:18:37is the fact there's a garage to the rear.
0:18:37 > 0:18:41Yes, all positives, but what does he see as the best way
0:18:41 > 0:18:44to increase its appeal to the local market?
0:18:44 > 0:18:46The main thing to increase value of the bungalow
0:18:46 > 0:18:51I feel maybe would be a conservatory or small extension to the rear,
0:18:51 > 0:18:54which will just provide increased living space.
0:18:54 > 0:18:56Great, so let's talk figures
0:18:56 > 0:18:59for the bungalow that was guided at £49,000 plus.
0:19:00 > 0:19:01After refurbishment,
0:19:01 > 0:19:05I would place the property on the market in the region of £100,000
0:19:05 > 0:19:08and the rental income would be in the region
0:19:08 > 0:19:10of £500 per calendar month.
0:19:15 > 0:19:19Well, this really is a property that screams potential
0:19:19 > 0:19:23and for anything like that £49,000 plus guide price,
0:19:23 > 0:19:26I don't think there's too many decisions to make.
0:19:26 > 0:19:28Let's see who agreed when it went under the hammer.
0:19:31 > 0:19:35Lot number five. It's a two-bedroom mid-terrace bungalow.
0:19:35 > 0:19:37Popular spot, needs improvement.
0:19:37 > 0:19:42There's gardens and a garage. Can we get it going at 43, lot number five?
0:19:42 > 0:19:44Start at 43 bid. Thank you.
0:19:44 > 0:19:47At £43,000. 45, can I say now?
0:19:47 > 0:19:5045, thank you. At 45,000.
0:19:50 > 0:19:5147?
0:19:51 > 0:19:54At 45,000. 47?
0:19:54 > 0:19:5849? £49,000. 51?
0:19:58 > 0:20:0051.
0:20:00 > 0:20:0353? £53,000.
0:20:03 > 0:20:0555?
0:20:05 > 0:20:0655 at the back.
0:20:06 > 0:20:0857? 57.
0:20:08 > 0:20:1059 seated now.
0:20:10 > 0:20:1161?
0:20:11 > 0:20:14I'll take once if it helps - 60?
0:20:14 > 0:20:1760 at the back, in the middle at the back. 60, 61.
0:20:17 > 0:20:1862.
0:20:18 > 0:20:1963.
0:20:19 > 0:20:2164.
0:20:21 > 0:20:2265, sir?
0:20:24 > 0:20:2565.
0:20:25 > 0:20:30Shaking his head. Still with you, sir. Seated at £65,000.
0:20:30 > 0:20:3166 anywhere else?
0:20:32 > 0:20:34New bidder, 66.
0:20:34 > 0:20:37Shaking his head. With you, sir, first bid.
0:20:37 > 0:20:40£66,000. 67 anywhere else?
0:20:40 > 0:20:43If not, I'm selling it at £66,000.
0:20:43 > 0:20:45For the first time,
0:20:45 > 0:20:47at £66,000.
0:20:47 > 0:20:48For the second time.
0:20:48 > 0:20:52Third and final time, no mistakes. Gentleman with the green sweater on.
0:20:52 > 0:20:53Bid's at 66.
0:20:53 > 0:20:55Third and last time.
0:20:55 > 0:20:57You've bought it, sir, well done.
0:20:57 > 0:21:00So the hammer fell at £66,000
0:21:00 > 0:21:03and the successful bidders for the two-bed bungalow in Stoke
0:21:03 > 0:21:04were John and Chris.
0:21:06 > 0:21:08John is a joiner by trade
0:21:08 > 0:21:11and his wife Chris is a clinical studies coordinator.
0:21:11 > 0:21:14They joined me back at the property to tell me more.
0:21:15 > 0:21:18- Chris, John, great to meet you both. - Hi.- You too.
0:21:18 > 0:21:20- Congratulations. BOTH:- Thank you.
0:21:20 > 0:21:22Tell me why you wanted to buy the bungalow.
0:21:22 > 0:21:24We'd just kept an eye out for a bungalow before
0:21:24 > 0:21:26for my mother and father,
0:21:26 > 0:21:29so we saw this come up and we know the street,
0:21:29 > 0:21:32- it's a good street, so we thought we'd go for it, didn't we?- Yeah.
0:21:32 > 0:21:36So are they downsizing? Or where are they at the moment?
0:21:36 > 0:21:39It's about the same size, but it's closer to us,
0:21:39 > 0:21:41closer to the grandchild, so...
0:21:41 > 0:21:43- Handy for a baby-sitter. - Yeah, right!
0:21:43 > 0:21:45- Are they currently in a bungalow? - They are, yeah.
0:21:45 > 0:21:47So they're moving from one bungalow to another?
0:21:47 > 0:21:49Yeah, they want to change and it's closer for us,
0:21:49 > 0:21:51so it's easier for us to help them
0:21:51 > 0:21:53- and vice versa.- Fantastic.
0:21:53 > 0:21:55So have they seen it in its current state?
0:21:55 > 0:21:57- Yeah! - THEY CHUCKLE
0:21:57 > 0:22:00What did they say when they first saw it?
0:22:00 > 0:22:03I think they were having second thoughts, but I talked them into...
0:22:03 > 0:22:05They think we're going to do a good job.
0:22:05 > 0:22:07Under a bit of pressure, aren't you?
0:22:07 > 0:22:10Are they going to have some input in terms of what you do?
0:22:10 > 0:22:13Uh, yeah, a bit, yeah.
0:22:13 > 0:22:16I think most of the decisions will be made by John.
0:22:16 > 0:22:17Right.
0:22:17 > 0:22:21# I'm gonna make you love me
0:22:22 > 0:22:24# Yes, I will
0:22:24 > 0:22:26# Yes, I will... #
0:22:26 > 0:22:30So it sounds like John and Chris will take the lead here
0:22:30 > 0:22:34and John certainly has the skill set to make it successful.
0:22:34 > 0:22:36He's a self-employed joiner.
0:22:36 > 0:22:39How do they plan to make John's parents love this place?
0:22:40 > 0:22:43Well, we have a new central heating system,
0:22:43 > 0:22:46rewire, new bathroom, new kitchen.
0:22:48 > 0:22:51All plastic all the way round, new windows, doors.
0:22:51 > 0:22:54Maybe some patio doors coming out of the bedroom.
0:22:54 > 0:22:56- Oh, nice!- Then, obviously,
0:22:56 > 0:22:58patio doors going out into the garden.
0:22:58 > 0:23:00Are you going to build a new conservatory on this
0:23:00 > 0:23:03and put a new roof on and stuff, or are you going to do it in plastic?
0:23:03 > 0:23:04New roof.
0:23:04 > 0:23:06New conservatory, cut the wall down.
0:23:06 > 0:23:09Windows across there and I think new windows and doors all round.
0:23:09 > 0:23:11And can you do all that?
0:23:11 > 0:23:12Yeah.
0:23:12 > 0:23:14- I'm hoping so!- Brilliant.
0:23:14 > 0:23:16We'll obviously have this plumbed out as well,
0:23:16 > 0:23:18so we'll have heating in this room as well,
0:23:18 > 0:23:22so it's suitable for the winter as well as the summertime.
0:23:22 > 0:23:25I reckon your mum and dad will spend a lot of time in this room.
0:23:25 > 0:23:27- It's quite bright, isn't it? - Yeah, it's lovely.
0:23:27 > 0:23:29What about the garage?
0:23:29 > 0:23:31Tidy it up as best we can, I think.
0:23:31 > 0:23:32It's good off-street parking,
0:23:32 > 0:23:35so there's good access at the back as well.
0:23:35 > 0:23:37What's the budget for the work?
0:23:37 > 0:23:41- Around 15,000-16,000. - OK, that sounds reasonable.- Yep.
0:23:41 > 0:23:44And how much of it are you doing yourself?
0:23:44 > 0:23:45Most of it, yeah.
0:23:45 > 0:23:48With John in full-time employment as a joiner,
0:23:48 > 0:23:51he plans to do most of the work on evenings and weekends
0:23:51 > 0:23:53and they hope to complete the refurbishment
0:23:53 > 0:23:55in around eight months.
0:23:55 > 0:23:58# I'm going to make you love me... #
0:23:58 > 0:24:00And then once you've done this,
0:24:00 > 0:24:03you might get the bug and do it some more, or what?
0:24:03 > 0:24:04We've already done it twice before.
0:24:04 > 0:24:07This is the third one.
0:24:07 > 0:24:08What did you do with the other ones?
0:24:08 > 0:24:10They're rented out at the moment.
0:24:10 > 0:24:13- One, I think, has been rented out about 18 months.- Yeah.
0:24:13 > 0:24:16- The other one about eight months, so...- Going OK?
0:24:16 > 0:24:20- Yeah, been really good.- We had to refurb both of those as well.
0:24:20 > 0:24:23- They went back to brick and we started again.- Really?- Yep.
0:24:23 > 0:24:27So we've been through this, the third time we've been through this.
0:24:27 > 0:24:31- But they weren't auction properties. - Right.
0:24:31 > 0:24:33- Listen, we really look forward to seeing how you get on.- Thank you.
0:24:33 > 0:24:36Exciting project with lots of good reasons for doing it,
0:24:36 > 0:24:40- so congratulations and good luck. - Thank you.- Thank you.
0:24:40 > 0:24:41Well, how great that Chris
0:24:41 > 0:24:44and John are sorting this place out for John's parents.
0:24:44 > 0:24:46I always love those kind of stories
0:24:46 > 0:24:49and I know they will transform this little bungalow.
0:24:49 > 0:24:53You can see what it turns out like later in the show.
0:24:54 > 0:24:58Coming up, you could really transform this two-bed in Folkestone,
0:24:58 > 0:25:01although height restrictions will apply.
0:25:01 > 0:25:04And, as you can see, it's not a standard-sized doorway.
0:25:07 > 0:25:10And in Stoke, it's not headroom that's the issue, it's lack of time.
0:25:10 > 0:25:14As soon as we started, work got really busy.
0:25:20 > 0:25:23We're heading back to Hainault in Essex now,
0:25:23 > 0:25:28where earlier I saw a four-bed mid-terrace guided at £250,000.
0:25:29 > 0:25:32Inside was spacious, with big bedrooms,
0:25:32 > 0:25:34a bathroom
0:25:34 > 0:25:36and a generous back garden.
0:25:36 > 0:25:39It just really needed a bit of modernisation.
0:25:39 > 0:25:42So, yes, with a bit of cleaning,
0:25:42 > 0:25:45some new carpets and new paint, a bit of money spent,
0:25:45 > 0:25:47this could really work well for a family.
0:25:49 > 0:25:53But the fourth bedroom in the loft didn't meet building regulations.
0:25:53 > 0:25:56My solution - get planning permission and add a dormer
0:25:56 > 0:25:59to give enough space for an en-suite shower room up there.
0:26:01 > 0:26:04That would make this a four-bedroom, two-bathroom property
0:26:04 > 0:26:07and it'll be much more saleable.
0:26:07 > 0:26:10Big potential saw big interest at auction
0:26:10 > 0:26:14and the hammer fell at 325,000.
0:26:14 > 0:26:16Sold, 325.
0:26:16 > 0:26:18Is that your first one?
0:26:18 > 0:26:19Yeah? Well done.
0:26:19 > 0:26:22This pair of pals, Fatima, here on the left, and Mehreen
0:26:22 > 0:26:24were the successful bidders.
0:26:24 > 0:26:28Both are full-time mums and this was their first development project.
0:26:29 > 0:26:32Their plan was to modernise throughout,
0:26:32 > 0:26:35ensure the loft conversion met building regulations
0:26:35 > 0:26:37so the fourth bedroom is certified
0:26:37 > 0:26:40and then sell the property on.
0:26:40 > 0:26:43OK, so you're really going to turn this into a family home, aren't you?
0:26:43 > 0:26:44Yes, exactly.
0:26:44 > 0:26:46We're really going to modernise it top to bottom
0:26:46 > 0:26:49- and we realise it's a lot of work, but we're all set for it.- Yes.
0:26:49 > 0:26:51And you two have got so much energy
0:26:51 > 0:26:54- because it's the first one you've ever done!- Exactly!
0:26:54 > 0:26:57- We've been best friends since 12 years, so yeah.- Yeah.
0:27:00 > 0:27:04So, best mates who were best prepared. Three months on...
0:27:04 > 0:27:08I can see the exterior has their promised off-street parking,
0:27:08 > 0:27:12but, inside, have these friends freshened up a family four-bed?
0:27:14 > 0:27:18# Ooh, you make me live
0:27:18 > 0:27:22# Whatever this world can give to me
0:27:22 > 0:27:26# It's you, you're all I see
0:27:26 > 0:27:30# Ooh, you make me live now, honey
0:27:30 > 0:27:33# Ooh, you make me live
0:27:35 > 0:27:38# Oh, you're the best friend
0:27:38 > 0:27:40# That I ever had
0:27:40 > 0:27:43# I've been with you such a long time
0:27:43 > 0:27:46# You're my sunshine
0:27:46 > 0:27:50# And I want you to know that my feelings are true
0:27:50 > 0:27:53# I really love you
0:27:53 > 0:27:57# Oh, you're my best friend... #
0:27:58 > 0:28:02They promised the whole place would be modernised top to bottom
0:28:02 > 0:28:05and that's exactly what the duo have done.
0:28:05 > 0:28:09The loft is very impressive and now it's an en-suite bedroom
0:28:09 > 0:28:11fully complying with building regulations.
0:28:15 > 0:28:20Um, basically, we spotted the opportunity to create extra space
0:28:20 > 0:28:22in the house by extending this room.
0:28:22 > 0:28:25We've put in the dormer window to make it more spacious,
0:28:25 > 0:28:29bright and airy, and we've put in the en-suite here
0:28:29 > 0:28:31and now we're really pleased with the result.
0:28:31 > 0:28:33It's one of the main features of this house.
0:28:34 > 0:28:37I'm also loving the modern feel of the kitchen.
0:28:40 > 0:28:42So, basically, in the kitchen,
0:28:42 > 0:28:45you can see that we've completely changed the whole thing.
0:28:45 > 0:28:48We've got new tiles on the floor, we've got new tiles on the walls,
0:28:48 > 0:28:50new cooker, new sink, everything's new.
0:28:50 > 0:28:52We tried to add a modern feature
0:28:52 > 0:28:54with some LED lights in the skirting.
0:28:54 > 0:28:57We actually worked together in deciding on what colour
0:28:57 > 0:28:59and what tiles to do.
0:28:59 > 0:29:03So, we worked together as a team and this is the result.
0:29:08 > 0:29:10Family homes need parking space
0:29:10 > 0:29:14and that's what they've done at the front here.
0:29:14 > 0:29:16We have built a new driveway.
0:29:16 > 0:29:19Since it's a busy road, it's always good for people to come back home
0:29:19 > 0:29:20and park in their own driveway.
0:29:20 > 0:29:22We've got a garage at the back.
0:29:22 > 0:29:24It's always convenient to have one at the front.
0:29:28 > 0:29:31Speaking of the garage at the rear, which, like the cabin house,
0:29:31 > 0:29:33they've left unchanged.
0:29:33 > 0:29:37The back garden is now ideal for those rare summer barbecues.
0:29:37 > 0:29:40Removing the shed has created a blank canvas
0:29:40 > 0:29:43for any buyer to create the garden of their dreams.
0:29:43 > 0:29:46But this resplendent renovation wasn't rapid.
0:29:46 > 0:29:49They went a few weeks over their three-month timescale.
0:29:49 > 0:29:52We were very lucky we had a very good builder,
0:29:52 > 0:29:54so he applied for the planning permission
0:29:54 > 0:29:56and I think that was one reason that caused the delay
0:29:56 > 0:30:01in the duration in which we wanted to finish.
0:30:01 > 0:30:05Yeah, I think it was fine, just took a bit longer.
0:30:05 > 0:30:07The quality of the finish and those planning delays
0:30:07 > 0:30:11have meant they've gone over their £30,000 budget.
0:30:12 > 0:30:15Well, actually, we've gone £10,000 over the budget,
0:30:15 > 0:30:17but, to be honest, it was our first time,
0:30:17 > 0:30:19so we kind of underestimated the costs
0:30:19 > 0:30:22and we've done so much work in this house,
0:30:22 > 0:30:25it's a complete refurbishment from top to bottom.
0:30:25 > 0:30:27Well, they did have a £5,000 contingency,
0:30:27 > 0:30:29so it's not that bad, ladies.
0:30:29 > 0:30:31You've done well.
0:30:31 > 0:30:34But has working together tested the friendship?
0:30:34 > 0:30:37No, we haven't had any issues. We've really enjoyed doing it together.
0:30:37 > 0:30:40- I think it's just made it stronger, if anything.- Yes.
0:30:40 > 0:30:42We'll definitely advise other people
0:30:42 > 0:30:45who want to come into this sort of field
0:30:45 > 0:30:47and who especially have got kids.
0:30:47 > 0:30:51It's very comfortable, you can work around your kids' routines.
0:30:51 > 0:30:55- We're already looking forward to the next project.- Yes, of course, yeah.
0:30:55 > 0:30:57Hold your horses, ladies.
0:30:57 > 0:30:59All this enthusiasm for your first project
0:30:59 > 0:31:01is already carrying over to the next,
0:31:01 > 0:31:03but they'll need to make some profit here
0:31:03 > 0:31:07if they're going to carry some money into the next renovation.
0:31:08 > 0:31:11We asked along two local estate agents to give us their thoughts,
0:31:11 > 0:31:14including the agent who saw it the first time.
0:31:16 > 0:31:19I think they've done a good change in the property.
0:31:19 > 0:31:21I'm impressed by the neutrality of the property
0:31:21 > 0:31:24and I really like this one.
0:31:24 > 0:31:26I think I like the bathroom,
0:31:26 > 0:31:29especially the mirrors they have used, which are very, very good.
0:31:29 > 0:31:31It adds a feature to the bathrooms.
0:31:31 > 0:31:34I think the kitchen, both the bathrooms,
0:31:34 > 0:31:37all the fitments are modern, fresh.
0:31:37 > 0:31:41The finish, even to the painting and the walls
0:31:41 > 0:31:46is very good. It's a very well put together refurbished property.
0:31:48 > 0:31:53The agents are impressed and they've suggested the house could command
0:31:53 > 0:31:56a top rental value of £2,000 per calendar month.
0:31:56 > 0:32:01And with Fatima and Mehreen's total spend at 370,000,
0:32:01 > 0:32:04that would generate just over a 6% yield,
0:32:04 > 0:32:06but the ladies are keen to sell,
0:32:06 > 0:32:08so what kind of values can they expect?
0:32:09 > 0:32:15I would set an asking price in the region of £415,000.
0:32:15 > 0:32:17I think offers would come in reasonably close,
0:32:17 > 0:32:21taking into account the standard of the refurb
0:32:21 > 0:32:24and the close proximity to the Central Line station.
0:32:24 > 0:32:28I think the property should be marketed at about £475,000,
0:32:28 > 0:32:31with an achievable price of 450, or just about that.
0:32:34 > 0:32:37The agents noticed that with Hainault's growing popularity,
0:32:37 > 0:32:39the property market is a bit unpredictable,
0:32:39 > 0:32:42hence the disparity in valuations.
0:32:42 > 0:32:47If Fatima and Mehreen were able to achieve that £450,000 figure,
0:32:47 > 0:32:51well, that would give them a pre-tax profit of 80,000.
0:32:51 > 0:32:53What do they make of the figures
0:32:53 > 0:32:57and the possibility of a fabulous first-time profit?
0:32:57 > 0:33:00At the lower guide price, it still does work for us, yes.
0:33:00 > 0:33:02We're quite pleased with the result.
0:33:02 > 0:33:05- We still make profit, but the more, the better.- Exactly.
0:33:06 > 0:33:09So, a successful first renovation for the ladies,
0:33:09 > 0:33:13but how does the enjoyable job of being a property developer
0:33:13 > 0:33:15balance with having the best job in the world,
0:33:15 > 0:33:17being mums?
0:33:20 > 0:33:22It's really easy to work it around your kids
0:33:22 > 0:33:26and you can set your own timing, so we really enjoyed doing it together.
0:33:26 > 0:33:28Definitely, yeah.
0:33:32 > 0:33:34Folkestone on the Kent coast
0:33:34 > 0:33:37was a popular seaside destination in the Victorian times
0:33:37 > 0:33:40and the legacy of Victorian ingenuity
0:33:40 > 0:33:42can still be enjoyed around here.
0:33:42 > 0:33:44One of the best examples is Leas Lift,
0:33:44 > 0:33:49built over 100 years ago in 1885 and is still working today.
0:33:49 > 0:33:56# Built to last... #
0:33:58 > 0:34:01Let's hope the property I'm here to see is of the same build.
0:34:01 > 0:34:04It's a two-bed, mid-terrace house
0:34:04 > 0:34:07with a guide price of £90,000-£95,000.
0:34:10 > 0:34:12Wow.
0:34:12 > 0:34:15Look at all this hallway space. It's a surprise to see the stairs
0:34:15 > 0:34:17so far away from the front door.
0:34:17 > 0:34:19I was expecting the stairs to be sort of here,
0:34:19 > 0:34:23but you've got this sense of space in the hallway which is really nice.
0:34:23 > 0:34:28A decent-sized front room there, old-fashioned, retro gas fire there.
0:34:28 > 0:34:32Down the hallway to the second room,
0:34:32 > 0:34:34down here, another gas fire there, a retro one again.
0:34:34 > 0:34:36I'd possibly get rid of those
0:34:36 > 0:34:40and down here, everything seems to get a little bit tighter.
0:34:40 > 0:34:44As you can see, it's not a standard-sized doorway.
0:34:44 > 0:34:46And the ceiling as well, as I come in,
0:34:46 > 0:34:49seems to be just inches off the top of my head.
0:34:49 > 0:34:51Look at this, this is definitely retro.
0:34:51 > 0:34:54You've got old-fashioned milk bottles as well.
0:34:54 > 0:34:55This really does take me back to
0:34:55 > 0:34:58when I was a young boy living in Leicester.
0:34:58 > 0:35:00We had a kitchen like this.
0:35:00 > 0:35:04Take this all out, you've got a decent-sized floor space here.
0:35:04 > 0:35:06Brand-new kitchen in here.
0:35:06 > 0:35:07I think it'd be pretty cool.
0:35:07 > 0:35:10You don't have to have the big, thick working surfaces.
0:35:10 > 0:35:13You can make them a bit smaller, shallow it up a little bit,
0:35:13 > 0:35:14a bit more floor space
0:35:14 > 0:35:17and I'm pretty sure, above here,
0:35:17 > 0:35:20you might be able to get two or three more inches of height,
0:35:20 > 0:35:22therefore you can take that light up,
0:35:22 > 0:35:25so when you have got friends coming round who are 6'2",
0:35:25 > 0:35:27they're not going to be hitting their head.
0:35:28 > 0:35:32There's no doubt about it - this kitchen has to be kicked into touch.
0:35:32 > 0:35:35# Hit me, hit me
0:35:35 > 0:35:36# Hit me...! #
0:35:38 > 0:35:40As does the rest of downstairs,
0:35:40 > 0:35:43but the central heating looks relatively new
0:35:43 > 0:35:45and I do like those old doors.
0:35:45 > 0:35:47Cupboard space is always handy too.
0:35:49 > 0:35:50# Hit me, hit me... #
0:35:50 > 0:35:52OK, off upstairs, then.
0:35:52 > 0:35:54Look at the size of that bathroom.
0:35:54 > 0:35:58That's one of the biggest bathrooms I've seen in a mid-terrace house.
0:35:58 > 0:35:59That is a lovely size.
0:35:59 > 0:36:03Up here to two bedrooms.
0:36:03 > 0:36:05The back bedroom here of a decent size,
0:36:05 > 0:36:08looks on to the back of the back garden.
0:36:08 > 0:36:11In here, look at this room. This is a front bedroom.
0:36:11 > 0:36:13Looks like it's had new double glazing in it.
0:36:13 > 0:36:17Nice high ceiling up here as well. Erm...
0:36:17 > 0:36:19Bit of cloakroom space in there.
0:36:19 > 0:36:21Behind here, I'm assuming this is...
0:36:23 > 0:36:25That's a beautiful fireplace they've got behind here
0:36:25 > 0:36:27and they've decided to board it up.
0:36:27 > 0:36:31Get that on show. I like it, I really do.
0:36:31 > 0:36:35# Oh, don't hide it away... #
0:36:36 > 0:36:38Same story in the second bedroom.
0:36:38 > 0:36:41If you have features, you should show them off, not hide them.
0:36:41 > 0:36:43Now, I'm going to talk about proportions
0:36:43 > 0:36:46and that's what's wrong here.
0:36:46 > 0:36:48I know I said the bathroom is one of the biggest I'd seen,
0:36:48 > 0:36:50but now I've seen the upstairs,
0:36:50 > 0:36:53it seems out of place with the rest of the house.
0:36:53 > 0:36:54It's a bit of a waste.
0:36:54 > 0:36:57Unless you're going to stick a fabulous walk-in shower here,
0:36:57 > 0:36:58it doesn't work.
0:37:00 > 0:37:03But a little bit of a tip - if you are viewing a house
0:37:03 > 0:37:05and you're upstairs, always look out the window.
0:37:05 > 0:37:07See if you can see the roof, the guttering.
0:37:07 > 0:37:09You get a good look at the back garden,
0:37:09 > 0:37:10sometimes the front garden as well.
0:37:10 > 0:37:12In this particular case,
0:37:12 > 0:37:16this roof seems to have a bit of a bow in it, so I'd been inclined
0:37:16 > 0:37:20to maybe take the tiles off, reseal it so there's no chance of a leak
0:37:20 > 0:37:21and reclaim the tiles.
0:37:21 > 0:37:24You won't have to have the expense of getting new tiles.
0:37:24 > 0:37:25They all look relatively fine.
0:37:25 > 0:37:29Put them back on and you know that's not going to be a problem.
0:37:29 > 0:37:32So the roof is something definitely to add to the to-do list.
0:37:32 > 0:37:34Another thing I can see from up here
0:37:34 > 0:37:37is what looks like a rather neglected garden.
0:37:40 > 0:37:41Out in the back garden,
0:37:41 > 0:37:45back yard, it seems to have been taken over by all this greenery.
0:37:45 > 0:37:49But judging by the width of the walls here,
0:37:49 > 0:37:50you can just see that side.
0:37:50 > 0:37:53It's a decent width of garden.
0:37:53 > 0:37:56Get rid of all this greenery, tidy it up,
0:37:56 > 0:37:59put some slabs down, just get it all levelled out
0:37:59 > 0:38:01or even a bit of false grass,
0:38:01 > 0:38:04which would be good for the kids to play football on, of course.
0:38:04 > 0:38:06I think it could be a nice-sized back garden for them
0:38:06 > 0:38:09and behind me here, an outside toilet,
0:38:09 > 0:38:11which I'd be inclined to get rid of.
0:38:11 > 0:38:15This piping here goes down into the outside toilet
0:38:15 > 0:38:17and then straight into the guttering.
0:38:17 > 0:38:19Leave that there, that seems sound.
0:38:19 > 0:38:22Get rid of this, tidy everything up
0:38:22 > 0:38:25and I think you'll have a decent-sized back garden.
0:38:25 > 0:38:28I'm starting to feel that perhaps there really is a great house here,
0:38:28 > 0:38:30but it just needs to be uncovered.
0:38:34 > 0:38:36What does a local estate agent think?
0:38:40 > 0:38:43The layout of the property is actually very good.
0:38:43 > 0:38:46It suits modern conveniences with the bathroom upstairs.
0:38:46 > 0:38:51Two reception rooms downstairs also allow for a versatility,
0:38:51 > 0:38:53so if you'd like to use one of them as a bedroom,
0:38:53 > 0:38:57then this could quite easily be a three-bedroom terraced property.
0:38:57 > 0:39:01OK, lots of choices, but what about the financial options
0:39:01 > 0:39:05on a house that was guided at auction for £90,000-£95,000?
0:39:05 > 0:39:08How much could you sell it for if it was refurbished as a two-bed?
0:39:10 > 0:39:13Once refurbished, if we were to resell the property,
0:39:13 > 0:39:17we'd expect to achieve in the region of £125,000.
0:39:19 > 0:39:20On the rental market,
0:39:20 > 0:39:26the property should achieve in the region of £625 per calendar month.
0:39:26 > 0:39:30Would the numbers alter much if you changed one of the reception rooms
0:39:30 > 0:39:32into a bedroom to make it a three-bedroom house?
0:39:32 > 0:39:36If this property was set up as a three-bedroom property,
0:39:36 > 0:39:39I would expect to achieve the same sort of figures
0:39:39 > 0:39:41as you would if it were a two-bed.
0:39:41 > 0:39:42However, on the rental market,
0:39:42 > 0:39:47you'd be looking to achieve possibly £675 per calendar month.
0:39:52 > 0:39:54It's really hard for me not to love this property.
0:39:54 > 0:39:56I've been reminiscing as I've been walking around.
0:39:56 > 0:39:59The upstairs bathroom at the back,
0:39:59 > 0:40:01the little kitchen there, we'd all be diving in that kitchen
0:40:01 > 0:40:04trying to make our own breakfasts, get your own space.
0:40:04 > 0:40:06Loads of happy memories for me back in Leicester,
0:40:06 > 0:40:09but let's see who wanted to build their own happy memories
0:40:09 > 0:40:11when it went under the hammer.
0:40:14 > 0:40:17So what are we going to say on this one? 90,000, do I see?
0:40:17 > 0:40:1890,000?
0:40:18 > 0:40:21Give me 85, then. It's here to be sold.
0:40:21 > 0:40:2485 unobliged. 85 I have.
0:40:24 > 0:40:2587 now do I say?
0:40:25 > 0:40:2787 do I say?
0:40:27 > 0:40:3187 bid I have. 87 bid. At 90. At 90.
0:40:31 > 0:40:36At 90, and 2. 92. 92? And 5. And 7.
0:40:36 > 0:40:3797.
0:40:37 > 0:40:3997 in the green.
0:40:39 > 0:40:42Up to 100. 98, if you like.
0:40:42 > 0:40:44Is that a bid? 98, I've got. 99 if you like.
0:40:44 > 0:40:4699, fill it up to 100.
0:40:46 > 0:40:49No, definitely not. I know when he says that.
0:40:49 > 0:40:5099 I've got, 100 I'm looking for.
0:40:50 > 0:40:55Are we all done at £99,000 for the first time to the lady in green?
0:40:55 > 0:40:5799 for the second time.
0:40:57 > 0:41:00Third and final time at 99,000.
0:41:00 > 0:41:02Yours at 99.
0:41:04 > 0:41:07The hammer fell on that bid of £99,000,
0:41:07 > 0:41:09made by Anataya, who hails from East Sussex.
0:41:12 > 0:41:15She came along with her two Pomeranians, Neo and Fliss,
0:41:15 > 0:41:17to tell us all about her second development property.
0:41:20 > 0:41:22So, Anataya, nice to meet you, firstly,
0:41:22 > 0:41:24and congratulations on your property.
0:41:24 > 0:41:28Tell me why you went for this kind of property in the auction.
0:41:28 > 0:41:33It's the location. Nice and quiet and the road is quite big,
0:41:33 > 0:41:35to park the car and things like that.
0:41:35 > 0:41:37I know you're not from this area at all,
0:41:37 > 0:41:39so what made you buy here in Folkestone?
0:41:39 > 0:41:43I have been through Folkestone quite a few times,
0:41:43 > 0:41:45so I know the area.
0:41:45 > 0:41:46So, one day you just thought,
0:41:46 > 0:41:51- "I like the area, I'll look for a house in this area"?- Yeah.
0:41:51 > 0:41:53Anataya may like the area,
0:41:53 > 0:41:55but she'll have an hour and a half drive to get here,
0:41:55 > 0:41:58so she's pinning her hopes on having a local builder in place
0:41:58 > 0:42:00to do all the work.
0:42:01 > 0:42:03OK, what do you intend to do with the property?
0:42:03 > 0:42:05What have you got in your mind?
0:42:05 > 0:42:08- Well, I have to change the kitchen. - Yep.
0:42:08 > 0:42:09And bathroom.
0:42:09 > 0:42:12I intend to put a shower in the bathroom.
0:42:12 > 0:42:16A new floor and decorating.
0:42:16 > 0:42:19Upstairs, there's two beautiful fireplaces
0:42:19 > 0:42:22- which have been boarded up. - Yes, I noticed that.
0:42:22 > 0:42:25I want to make it up
0:42:25 > 0:42:28or bring it downstairs, I'm not sure yet.
0:42:28 > 0:42:30OK, so you might even take the fireplace out
0:42:30 > 0:42:33and put it there for decoration? It's very pretty, isn't it?
0:42:33 > 0:42:38Yes, I have to consult with the contractor.
0:42:38 > 0:42:43- Do you have a budget for all the work?- I believe under 12,000.
0:42:43 > 0:42:47- £12,000 to get all the work done and complete?- Yeah.
0:42:47 > 0:42:49And along with that £12,000 budget,
0:42:49 > 0:42:52she hopes to complete the refurbishment in just months.
0:42:54 > 0:42:55Are you winning?
0:42:55 > 0:42:59- Are you winning at the moment? - Quite often winning.- Good.
0:42:59 > 0:43:03- Investing in all different things, different markets.- OK.
0:43:03 > 0:43:06So Anataya plays the stocks and shares market
0:43:06 > 0:43:07and the property market.
0:43:07 > 0:43:10Clearly, she doesn't mind taking a risk or two,
0:43:10 > 0:43:12which might explain her hobby.
0:43:12 > 0:43:13Anataya is a qualified pilot.
0:43:16 > 0:43:19I do flying.
0:43:19 > 0:43:22- You do flying?- Yes.- And how long have you been doing that?
0:43:22 > 0:43:24For 20 years now.
0:43:24 > 0:43:27- 20 years?- I've got 300 hours.
0:43:27 > 0:43:31- 300 hours of flying?- Yes.- Wow.
0:43:31 > 0:43:33It's a diverse thing to do, very diverse.
0:43:33 > 0:43:35The property thing, do you want to do more of that?
0:43:35 > 0:43:37If I sell this one, I might go for another one.
0:43:37 > 0:43:39- Ah!- But I'm not sure.
0:43:39 > 0:43:43So you might be starting to build a few houses and a bit of a portfolio?
0:43:43 > 0:43:47- Yes.- Listen, well done, I hope it goes well for you.
0:43:47 > 0:43:49- Congratulations.- Thank you.
0:43:50 > 0:43:54So Anataya seems to have this house completely under control,
0:43:54 > 0:43:56but will she have a rough ride during refurbishment
0:43:56 > 0:43:59or will she be flying high with the results?
0:43:59 > 0:44:01You can find out later on in the programme.
0:44:04 > 0:44:06We've seen how one of our buyers got on
0:44:06 > 0:44:07after bidding in the auction room.
0:44:07 > 0:44:10What about the other two? Did they see the fruits of their labours?
0:44:10 > 0:44:12I can't wait to find out.
0:44:15 > 0:44:17Earlier in the show, I was in Stoke.
0:44:17 > 0:44:21I was observing one of the rarer but much-loved species
0:44:21 > 0:44:26of the British housing market, the lesser spotted bungalow.
0:44:26 > 0:44:28Making up only 10% of housing stock,
0:44:28 > 0:44:30they're a much sought-after breed
0:44:30 > 0:44:34and this one was guided at £49,000 plus,
0:44:34 > 0:44:37although its plumage had seen better days.
0:44:37 > 0:44:41You can tell it's going to need a bit of modernisation, but, you know,
0:44:41 > 0:44:43you've got to see through its current condition
0:44:43 > 0:44:47to what it might become. Just even by changing the carpets
0:44:47 > 0:44:50and either plastering or putting new wallpaper on the walls,
0:44:50 > 0:44:52what a change you would make.
0:44:55 > 0:44:57And ready to make the changes were John and Chris.
0:44:57 > 0:45:01They planned to make their £66,000 purchase
0:45:01 > 0:45:03into a home for John's parents.
0:45:04 > 0:45:07So have they seen it in its current state?
0:45:07 > 0:45:08- Yeah! - THEY CHUCKLE
0:45:08 > 0:45:11What did they say when they first saw it?
0:45:11 > 0:45:15I think they were having second thoughts, but I talked them into...
0:45:15 > 0:45:17They think we're going to do a good job.
0:45:17 > 0:45:20- # I promised I'd be good...- #
0:45:20 > 0:45:25So John and Chris were promising to do a good job for John's parents.
0:45:25 > 0:45:28It's a good thing that John had an ideal skill set.
0:45:28 > 0:45:29He's a joiner by trade.
0:45:31 > 0:45:34We came back 14 months later to find out how John and Chris had got on.
0:45:36 > 0:45:39And, judging by the outside, things have gone very well.
0:45:39 > 0:45:42A new door, some work on the porch
0:45:42 > 0:45:46and landscaping in the garden has really lifted the front,
0:45:46 > 0:45:50but does the interior live up to the exterior's promise?
0:45:50 > 0:45:52# I promised I'd be good
0:46:05 > 0:46:07- # I promised I'd be good...- #
0:46:08 > 0:46:12Wow, a real transformation throughout the property.
0:46:12 > 0:46:15This new kitchen is exactly what the space needed.
0:46:17 > 0:46:23We ripped out the old kitchen and we put a new kitchen into the area.
0:46:23 > 0:46:27We've retiled and we've had a glass splashback fitted.
0:46:29 > 0:46:33Out the back of the kitchen, the conservatory is now complete
0:46:33 > 0:46:34and looking fantastic.
0:46:37 > 0:46:40We decided to keep the conservatory in the end,
0:46:40 > 0:46:43but replaced all the falling-in roof
0:46:43 > 0:46:46and dodgy windows with a new roof, new windows,
0:46:46 > 0:46:51put French doors out to the bedroom, leading into the conservatory.
0:46:51 > 0:46:55A nice laminate floor and then doors leading to outside.
0:46:55 > 0:47:00Outside, we've put some fake grass down and paved the rest of it,
0:47:00 > 0:47:03just for low maintenance and we're pleased with it, yeah.
0:47:03 > 0:47:06# I promised I'd be good... #
0:47:06 > 0:47:08As promised, the patio doors
0:47:08 > 0:47:10leading from the bedroom into the conservatory
0:47:10 > 0:47:14and then out onto the garden makes the layout flow much better.
0:47:14 > 0:47:19They've also improved the use of space by modifying the bathroom.
0:47:19 > 0:47:21# I promised I'd be good... #
0:47:21 > 0:47:22Basically, we got rid of
0:47:22 > 0:47:26this small room that was housing the back boiler
0:47:26 > 0:47:27that's not needed any more,
0:47:27 > 0:47:30because we've got the central heating system fitted.
0:47:30 > 0:47:31Took this wall down,
0:47:31 > 0:47:34squared off the bathroom so it gives a lot more room,
0:47:34 > 0:47:37got rid of the bath, put a double shower in,
0:47:37 > 0:47:41and replaced the bedroom door where it suits it better
0:47:41 > 0:47:43and, yeah, really pleased with it.
0:47:45 > 0:47:47And look at the living room.
0:47:47 > 0:47:51See what I mean about how new decor can really lift a place?
0:47:53 > 0:47:58We've had it fully replastered and we've had new carpets fitted.
0:47:58 > 0:48:00We've ripped out the back boiler,
0:48:00 > 0:48:05the fire, and we've replaced it with an electric fire.
0:48:06 > 0:48:11Their original budget was £16,000 and they stuck to that number.
0:48:11 > 0:48:13John doing most of the work
0:48:13 > 0:48:16with some help from family and friends has saved them money,
0:48:16 > 0:48:21but they thought it would take eight months. It actually took 14.
0:48:21 > 0:48:24The biggest challenge I think has been to keep it on time,
0:48:24 > 0:48:26because John's done most of the work.
0:48:26 > 0:48:30As soon as we started, work got really busy
0:48:30 > 0:48:32and, obviously, that takes priority,
0:48:32 > 0:48:36cos that enables us to do projects like this.
0:48:36 > 0:48:39And this project is complete, ready for John's parents,
0:48:39 > 0:48:41Ken and Rose, to move into.
0:48:45 > 0:48:49But let's just put a handbrake on the removal vans for a moment
0:48:49 > 0:48:51and ask two local estate agents to give us
0:48:51 > 0:48:54an appraisal of their renovated home,
0:48:54 > 0:48:57starting with the agent who saw it before the renovation.
0:48:57 > 0:49:00This is my second visit to the property and there really has been
0:49:00 > 0:49:04a transformation, considerably internally, with the property.
0:49:04 > 0:49:08Good quality kitchen, bathroom and it's really ready to move into.
0:49:09 > 0:49:12The selling point is that bungalows are always in demand.
0:49:12 > 0:49:15It's going to be an affordable price range,
0:49:15 > 0:49:17so I don't think there's going to be any issues
0:49:17 > 0:49:19in reselling this property.
0:49:19 > 0:49:21This is my first time inside the property.
0:49:21 > 0:49:24I'm particularly impressed with the level of finish to the property,
0:49:24 > 0:49:27especially in the garden and the kitchen and bathroom.
0:49:27 > 0:49:29I think that the current owners have done the best that they can
0:49:29 > 0:49:33with the property, as it is a smaller property,
0:49:33 > 0:49:36but I think that the layout is in fitting
0:49:36 > 0:49:38and in keeping with the style.
0:49:40 > 0:49:43Chris and John's total spend to date is £82,000.
0:49:43 > 0:49:46The agents thought the house could attract
0:49:46 > 0:49:50a rental figure of £475-£500 per calendar month,
0:49:50 > 0:49:53giving them just over a 7% yield.
0:49:53 > 0:49:55But what about sales?
0:49:57 > 0:49:58If we were to sell the property,
0:49:58 > 0:50:02I think it will achieve between £90,000-£95,000.
0:50:02 > 0:50:05I would place this property on the open market
0:50:05 > 0:50:06in the region of £100,000.
0:50:06 > 0:50:10A bit more than we expected, but it's not a short-term thing,
0:50:10 > 0:50:12it's a longer-term investment for us
0:50:12 > 0:50:16and somewhere nice for my parents to live.
0:50:16 > 0:50:19Yes, and they've created a beautiful home for John's parents.
0:50:19 > 0:50:21That's what's important,
0:50:21 > 0:50:26although a pre-tax profit of £18,000 is good news.
0:50:26 > 0:50:28Always pleasing to see children
0:50:28 > 0:50:30looking after parents in later years,
0:50:30 > 0:50:32something I'm sure the couple would be keen
0:50:32 > 0:50:35to remind their son James about many years from now.
0:50:35 > 0:50:39That is, after he's finished trying to become the next Dion Dublin.
0:50:41 > 0:50:43What's next for the couple?
0:50:46 > 0:50:48We've got a bit of work to do on our house
0:50:48 > 0:50:52- and a bit of catching up with the little 'un, haven't we?- Yeah.
0:50:52 > 0:50:54We've just bought a camper van,
0:50:54 > 0:50:57so we're going to spend some family time together.
0:51:03 > 0:51:06Folkestone in Kent is where I was earlier in the show
0:51:06 > 0:51:10and not far from the idyllic seaside was this two-bed mid-terrace
0:51:10 > 0:51:13guided at £90,000-£95,000.
0:51:14 > 0:51:17The guide price may have been attractive, but, sadly,
0:51:17 > 0:51:19not as low as the downstairs ceiling.
0:51:19 > 0:51:23And, down here, everything seems to get a little bit tighter.
0:51:23 > 0:51:27As you can see, it's not a standard-sized doorway.
0:51:27 > 0:51:30The ceiling, as well, as I come in,
0:51:30 > 0:51:33seems to be just inches off the top of my head.
0:51:33 > 0:51:35All right, I'm a bit taller than most,
0:51:35 > 0:51:38but that cramped headroom was only emphasised by the space upstairs.
0:51:40 > 0:51:42An oversized bathroom...
0:51:44 > 0:51:46..nice-sized bedrooms...
0:51:46 > 0:51:48each with these hidden gem fireplaces.
0:51:50 > 0:51:53Someone who had lofty ambitious was Anataya,
0:51:53 > 0:51:57who bought the house for £99,000 as her second property development.
0:51:57 > 0:52:02I said lofty ambitious, or was her head slightly stuck in the clouds?
0:52:02 > 0:52:05I do flying.
0:52:05 > 0:52:08- You do flying?- Yes. - How long have you been doing that?
0:52:08 > 0:52:10For 20 years now.
0:52:10 > 0:52:13- 20 years?- I've got 300 hours.
0:52:13 > 0:52:15- 300 hours of flying?- Yep.
0:52:16 > 0:52:19Eight months on, and Anataya gave us clearance to land
0:52:19 > 0:52:21back at the property and have a look around.
0:52:45 > 0:52:48Well, if this is Anataya's second property development,
0:52:48 > 0:52:51she's found her feet quickly. This is looking great.
0:52:52 > 0:52:54What has she done, though?
0:52:54 > 0:52:56Since you saw the house,
0:52:56 > 0:53:01we have been changing all the rooms, replastering.
0:53:01 > 0:53:05We put in a new bathroom, a new kitchen,
0:53:05 > 0:53:09and in the dining room, we changed it into a bigger room.
0:53:09 > 0:53:11Take out a wall.
0:53:11 > 0:53:15Taking out the living room wall has really opened up that space,
0:53:15 > 0:53:17but, for me, it's that new bathroom
0:53:17 > 0:53:20and the new kitchen that have really lifted this house.
0:53:20 > 0:53:24But there were some hitches along the way.
0:53:24 > 0:53:27The biggest problem is the bathroom,
0:53:27 > 0:53:32because in the side is a crack and damp,
0:53:32 > 0:53:35so I had to do a lot of work up there.
0:53:35 > 0:53:38That's the biggest problem.
0:53:38 > 0:53:40You know, I think Anataya and I
0:53:40 > 0:53:43might have to disagree on what was the biggest problem.
0:53:43 > 0:53:45I love what she's done to the kitchen,
0:53:45 > 0:53:47but it turned into a renovation disaster.
0:53:49 > 0:53:54The new kitchen, it was quite low, so we put in a higher bit,
0:53:54 > 0:53:56a few inches higher.
0:53:56 > 0:54:02I believe the pressure made a pipe burst
0:54:02 > 0:54:04and then caused a leak.
0:54:04 > 0:54:10I was here, I was upstairs about 3:00 or 4:00.
0:54:10 > 0:54:13It probably took a couple of hours.
0:54:13 > 0:54:16I woke up about 6:30, 7:00,
0:54:16 > 0:54:21I noticed that there's a lot of water, steaming hot water.
0:54:21 > 0:54:24It was like mist in the room.
0:54:25 > 0:54:28So, a burst pipe in the ceiling flooded the new kitchen
0:54:28 > 0:54:31and meant it all had to be replaced
0:54:31 > 0:54:33and that wasn't the end of Anataya's woes.
0:54:33 > 0:54:36In fact, she had to change the contractor three times
0:54:36 > 0:54:38to get this house completed,
0:54:38 > 0:54:40but there was always someone there on hand
0:54:40 > 0:54:43to do all the odd jobs in the house.
0:54:43 > 0:54:44Herself.
0:54:47 > 0:54:53I usually stay here, sleep here and do some other jobs.
0:54:53 > 0:54:57Sometimes, I couldn't wait for the builder to come,
0:54:57 > 0:55:01I did it, like, for example, painting - I just did it for myself.
0:55:01 > 0:55:04So Anataya rolled up her sleeves and got stuck in.
0:55:04 > 0:55:08Staying on site saved her an hour and a half drive from her own house,
0:55:08 > 0:55:10but didn't save her much,
0:55:10 > 0:55:15as burst pipes were one of the reasons her budget soared to £17,000.
0:55:15 > 0:55:19Changing contractors three times also pushed her timescale
0:55:19 > 0:55:23from three months to eight months, but has she enjoyed the experience?
0:55:27 > 0:55:30I'm really pleased when I finished it. It seems over.
0:55:31 > 0:55:36Although I have to wait for such a long time,
0:55:36 > 0:55:38it seemed never finished.
0:55:39 > 0:55:43Despite all the setbacks, Anataya seems to be well grounded.
0:55:43 > 0:55:44No time for flying.
0:55:44 > 0:55:45I have been so busy,
0:55:45 > 0:55:49I haven't got time to fly or look at my book, really.
0:55:49 > 0:55:52I haven't watched TV, either.
0:55:54 > 0:55:56Anataya has had limited time to relax,
0:55:56 > 0:55:59so I'll bet Neo and Fliss will be looking forward to more time
0:55:59 > 0:56:01for...(walkies)...
0:56:01 > 0:56:03when this development is over.
0:56:05 > 0:56:08Now it's time to find out what two local estate agents thought.
0:56:08 > 0:56:10Has Anataya's hard work paid off?
0:56:12 > 0:56:15The property here's been nicely presented,
0:56:15 > 0:56:19it's nicely converted into a more modern, contemporary feel.
0:56:19 > 0:56:23A few little snagging issues, but, apart from that, I like it.
0:56:23 > 0:56:25They've done a very nice job of the kitchen
0:56:25 > 0:56:28and they've done an excellent job of the bathroom.
0:56:28 > 0:56:31I think they've finished it off very sympathetic
0:56:31 > 0:56:33for a two-bedroom cottage.
0:56:33 > 0:56:36Anataya's undecided about what she wants to do with this property,
0:56:36 > 0:56:38but she's leaning towards selling,
0:56:38 > 0:56:43so can she make a profit on her total investment of £116,000?
0:56:44 > 0:56:48I think if this went on to the open market for sale,
0:56:48 > 0:56:51I would recommend advertising it for about 135,000
0:56:51 > 0:56:54and accept anything over 125,000.
0:56:54 > 0:56:57If she wanted to rent it, this would rent very nicely
0:56:57 > 0:57:00and I would say about £650 per calendar month.
0:57:00 > 0:57:02I think this probably could be
0:57:02 > 0:57:04put on the market for in the region of £140,000.
0:57:04 > 0:57:07Rental market - this property would achieve
0:57:07 > 0:57:10in the region of £675 per calendar month.
0:57:12 > 0:57:16So, at an average figure of £137,500 for resale,
0:57:16 > 0:57:19or 650 quid per calendar month,
0:57:19 > 0:57:23Anataya could choose between a 21,500 grand pre-tax profit,
0:57:23 > 0:57:26or a 7% yield.
0:57:26 > 0:57:28Is she happy with those figures, though?
0:57:31 > 0:57:37A little bit low, I think, your agents' estimate.
0:57:37 > 0:57:41140, I would prefer that.
0:57:41 > 0:57:42Sit, sit.
0:57:42 > 0:57:46Anataya came through a lot of turbulence with a decent profit.
0:57:46 > 0:57:48Is it time to get back in the air now?
0:57:50 > 0:57:55It depends. If I got time, I would like to go and fly,
0:57:55 > 0:57:58but I would like to earn some money first.
0:57:58 > 0:57:59Yeah.
0:58:03 > 0:58:06Well, doing up property can be a huge learning experience,
0:58:06 > 0:58:09even for those, like us, who've done it loads of times before.
0:58:09 > 0:58:11Yes, but we are here to help
0:58:11 > 0:58:13and hopefully make it that little bit easier for you.
0:58:13 > 0:58:14Yeah, so join us next time
0:58:14 > 0:58:16for more highs and lows on Homes Under The Hammer.
0:58:16 > 0:58:18- Goodbye.- Goodbye.- Goodbye.