0:00:02 > 0:00:03Hello and welcome to the show.
0:00:03 > 0:00:06Now, in the helter-skelter world of property, the market can go up
0:00:06 > 0:00:10as well as down but don't let that scare you off taking the plunge.
0:00:10 > 0:00:13Yes, it can be hard to predict when to buy and what to buy
0:00:13 > 0:00:15but I know a place where you can start.
0:00:15 > 0:00:18Yes, so why not buy your next property under the hammer?
0:00:44 > 0:00:46Well, they say never judge a book by its cover
0:00:46 > 0:00:49and it's also true in the world of property development.
0:00:49 > 0:00:51Yeah, just because a property looks good at first glance,
0:00:51 > 0:00:54it might not be a wise investment, so do your homework.
0:00:54 > 0:00:58So, were today's buyers prepared? Here's what they bought.
0:01:01 > 0:01:06In Staffordshire, there's a bungalow that leaves me sitting on the fence.
0:01:06 > 0:01:08I've seen worse, I've seen better.
0:01:09 > 0:01:11And on a trip to South London,
0:01:11 > 0:01:15I too don't have a clear view on this property.
0:01:15 > 0:01:16The foliage hanging over that front door
0:01:16 > 0:01:18could do with a bit of a trim up, I think.
0:01:20 > 0:01:22Whereas in West Brom, in the Midlands,
0:01:22 > 0:01:25I know exactly how I feel about this house.
0:01:25 > 0:01:27It's not a bad start at all.
0:01:28 > 0:01:29I'm happy.
0:01:31 > 0:01:33All these properties have been sold at auction.
0:01:33 > 0:01:35We'll find out who bought them and what they paid for them
0:01:35 > 0:01:37when they went under the hammer.
0:01:37 > 0:01:39You bought it, sir. Well done.
0:01:42 > 0:01:46I'm in Trentham, which is between Stoke and Newcastle-under-Lyme.
0:01:46 > 0:01:49It's probably best known for Trentham Gardens,
0:01:49 > 0:01:53which, amongst other things, is where I learnt to swim.
0:01:53 > 0:01:57This area is popular with families, professionals and the retired alike.
0:01:57 > 0:01:59So, you might be in the market for this.
0:01:59 > 0:02:02It is a two-bedroom detached bungalow
0:02:02 > 0:02:04at a guide price of 120,000 quid.
0:02:04 > 0:02:07Now, this is a really nice street in a nice area,
0:02:07 > 0:02:09so that's got to be good news.
0:02:09 > 0:02:10# That's good news
0:02:13 > 0:02:15# Well, boy, that's good news. #
0:02:15 > 0:02:19OK. So, a nice big entrance porch here
0:02:19 > 0:02:21and then into the bungalow itself.
0:02:21 > 0:02:24The first thing you notice is something going on with the floor
0:02:24 > 0:02:26but we'll pause that thought for now
0:02:26 > 0:02:29and just look at the actual layout of the property.
0:02:29 > 0:02:33This is like the central area off which all the rooms spread.
0:02:33 > 0:02:37A nice size too, so it gives us a nice open feel to the place.
0:02:37 > 0:02:39One of the bedrooms there. It's a good size.
0:02:39 > 0:02:43You've got your loo there and then another bedroom.
0:02:43 > 0:02:47A nice size duel-aspect living room there with a fire in it.
0:02:47 > 0:02:50You know, duel-aspect light from both ends, which is good.
0:02:50 > 0:02:56And then straight forward, if you wanted to do that, into the kitchen.
0:02:56 > 0:02:57A fairly classic layout
0:02:57 > 0:03:01and it looks to me like it hasn't been really touched
0:03:01 > 0:03:04since it was built probably in the 1960s or so.
0:03:04 > 0:03:06I recognise some of these units from my childhood
0:03:06 > 0:03:09and that little thing over there, that little knife sharpener.
0:03:09 > 0:03:11Do you remember those? Brilliant.
0:03:11 > 0:03:12But there's lots you could do here.
0:03:12 > 0:03:15We're talking about replacing the boiler and tidying it all up.
0:03:15 > 0:03:21But as bungalows go, I've seen worse, I've seen better.
0:03:22 > 0:03:25With a property trapped in time like this one,
0:03:25 > 0:03:28it is usually a rewire, replacing the central heating,
0:03:28 > 0:03:30a new kitchen and refurbishing the bathroom
0:03:30 > 0:03:32that will be needed.
0:03:33 > 0:03:36Bungalows are now enormously popular
0:03:36 > 0:03:40and not just with downsizers but also with families.
0:03:40 > 0:03:43But a family might need a little more room.
0:03:43 > 0:03:45At the back of the property, what are we looking for?
0:03:45 > 0:03:49Well, potential amongst other things.
0:03:49 > 0:03:51For an extension, perhaps permitted development
0:03:51 > 0:03:54would allow you to go out a certain distance. That would be one choice.
0:03:54 > 0:03:57It's obviously a bungalow, so you're not going to go very high,
0:03:57 > 0:03:58so that all works.
0:03:58 > 0:04:01It comes down to whether or not it would be worth it financially.
0:04:01 > 0:04:03If you're going to buy this place to live in it,
0:04:03 > 0:04:04that's a different set of equations.
0:04:04 > 0:04:07But if you're doing it from a purely financial point of view,
0:04:07 > 0:04:10talk to the local agents - would you get your money back?
0:04:10 > 0:04:12I don't think it would detract from the garden cos actually
0:04:12 > 0:04:15it's a fantastic bit of space. It goes all the way back there.
0:04:15 > 0:04:18It obviously needs a bit of tender loving care at the moment
0:04:18 > 0:04:19but a really nice space.
0:04:19 > 0:04:23So, yeah, work to be done, but again, I think so worth it.
0:04:25 > 0:04:33# I just need your tender love and care. #
0:04:36 > 0:04:40So, back to the elephant in the room, so to speak, and the floor.
0:04:40 > 0:04:42Now, you'll notice that throughout the bungalow
0:04:42 > 0:04:47the parquet flooring tiles are actually coming up
0:04:47 > 0:04:49and you could sort of glance at this and think,
0:04:49 > 0:04:52well, maybe just the glue or whatever they use to stick it down
0:04:52 > 0:04:55has failed over time. My concern is that it's something a bit more
0:04:55 > 0:04:57sinister because, in certain parts of the country,
0:04:57 > 0:05:01especially where there's a big history of mining, like around here,
0:05:01 > 0:05:03there can be a much more serious issue.
0:05:03 > 0:05:07And that's where they used the mine waste,
0:05:07 > 0:05:10the stuff that they used to dig out the ground, which wasn't the coal,
0:05:10 > 0:05:13to actually infill and use basically as foundations
0:05:13 > 0:05:16in properties like this.
0:05:16 > 0:05:20The problem is, over time, some of that waste has chemicals in it,
0:05:20 > 0:05:24which cause the floor itself to start to chemically react.
0:05:24 > 0:05:27That causes bubbling, it causes all sorts of problems.
0:05:27 > 0:05:30That could be what's happening here.
0:05:30 > 0:05:32You need to get a specialist in to check it out
0:05:32 > 0:05:36and they'll drill holes and tell you what's actually under the floor.
0:05:36 > 0:05:38The worst-case scenario is
0:05:38 > 0:05:40it has got that problem,
0:05:40 > 0:05:42in which case you have to dig out all the floors.
0:05:42 > 0:05:45And you can just imagine how much that would add to your budget.
0:05:46 > 0:05:49A sulphate test or red ash test
0:05:49 > 0:05:52will reveal if this is the cause of the problem.
0:05:52 > 0:05:55Parquet floors were often laid on nothing more than sand
0:05:55 > 0:05:58or even earth back in the day,
0:05:58 > 0:06:02so moisture can be an issue, as can the perishing of the bitumen used.
0:06:04 > 0:06:08Let's find out if a local estate agent is floored by this bungalow.
0:06:08 > 0:06:10First, does she think it'll be worth
0:06:10 > 0:06:11adding an extension?
0:06:11 > 0:06:14I don't think it would be worth extending
0:06:14 > 0:06:18because you would be spending as much money as you would
0:06:18 > 0:06:19when you come to sell the property
0:06:19 > 0:06:23and you wouldn't really make a great profit by extending it.
0:06:23 > 0:06:24So, like I said earlier,
0:06:24 > 0:06:26worth extending if you want to live here
0:06:26 > 0:06:28but not if you want to make a profit.
0:06:28 > 0:06:32So, given this bungalow has a guide price of 120,000,
0:06:32 > 0:06:36what could it sell for once refurbished?
0:06:36 > 0:06:38After the work's being completed,
0:06:38 > 0:06:42I would market this property at £190,000.
0:06:42 > 0:06:45That leaves plenty of room for a full renovation
0:06:45 > 0:06:49and a profit if you can get it for something like the guide price.
0:06:49 > 0:06:51But the floor issue could change that totally.
0:06:54 > 0:06:56Well, it's certainly an interesting opportunity.
0:06:56 > 0:07:00It's a great bungalow but of course there is that potential problem
0:07:00 > 0:07:04with the floor, so it all comes down to your attitude to risk.
0:07:05 > 0:07:08How do you feel? Are you going to take this one or this one?
0:07:10 > 0:07:13Let's see who bought it when it went under the hammer.
0:07:13 > 0:07:15We now go to Trentham, Stoke-on-Trent
0:07:15 > 0:07:19and it's a detached bungalow but it does need some refurbishment.
0:07:19 > 0:07:22So, Lot 47, guiding is at 120.
0:07:22 > 0:07:24Can I say 110 to start?
0:07:24 > 0:07:26Thank you. £110,000.
0:07:26 > 0:07:29To my right, then, at £110,000.
0:07:29 > 0:07:31111, can I see now?
0:07:31 > 0:07:32111.
0:07:32 > 0:07:33112...
0:07:33 > 0:07:36The bidding went back and forth between two pairs of bidders
0:07:36 > 0:07:40and we rejoin the bidding at 136,000.
0:07:40 > 0:07:41136?
0:07:41 > 0:07:43136.
0:07:43 > 0:07:46137 anywhere else?
0:07:46 > 0:07:49If not, £136,000 for the first time...
0:07:50 > 0:07:53£136,000 for the...
0:07:53 > 0:07:55A half. 136 and a half.
0:07:56 > 0:07:58137.
0:07:58 > 0:08:01Another half? Yeah, 137 and a half.
0:08:01 > 0:08:02138?
0:08:02 > 0:08:04No? 137 and a half.
0:08:04 > 0:08:07To my left, then, at 137,500, all done?
0:08:08 > 0:08:10137,5 once, then.
0:08:10 > 0:08:12137,5 twice.
0:08:12 > 0:08:15Third and final time at...
0:08:15 > 0:08:16Back in. 138.
0:08:17 > 0:08:19No?
0:08:19 > 0:08:23To my right, then, £138,000 for the first time.
0:08:23 > 0:08:26£138,000 for the second time.
0:08:26 > 0:08:30Third and final time, £138,000.
0:08:31 > 0:08:32You bought it, sir, well done.
0:08:32 > 0:08:34Wow! After a nail-biting battle,
0:08:34 > 0:08:38the successful bidders were Luke and his father-in-law, Stephen.
0:08:38 > 0:08:41They bought the bungalow for 138,000
0:08:41 > 0:08:45and it's their first project with their redevelopment company,
0:08:45 > 0:08:48which they formed on the very morning of the auction.
0:08:48 > 0:08:51So, new business and new project.
0:08:51 > 0:08:52I met Luke to find out more.
0:08:52 > 0:08:56- Luke, great to see you. - And you.- Congratulations.
0:08:56 > 0:08:58Tell me why you wanted to buy this bungalow?
0:08:58 > 0:09:01Well, we've been looking for something to develop
0:09:01 > 0:09:04for a bit of time and it seemed like a really good opportunity
0:09:04 > 0:09:07because of the area it's in. It's quite a nice area.
0:09:07 > 0:09:10We saw this come up and then we just thought
0:09:10 > 0:09:13we'd go and have a little look at the auction and now we've got it.
0:09:13 > 0:09:15Is this the sort of thing you've done before?
0:09:15 > 0:09:16Not development. So, I am a joiner.
0:09:16 > 0:09:20I've always wanted to do it cos it's something my father's always done
0:09:20 > 0:09:25and it seems...seems like the perfect route for me to go down.
0:09:25 > 0:09:28So, now we've taken the plunge and we're going for it.
0:09:28 > 0:09:31Luke will be bringing his joinery skills to the partnership
0:09:31 > 0:09:34and father-in-law, Stephen, will finance it.
0:09:34 > 0:09:36Seems like a good match to me.
0:09:36 > 0:09:38So, why this house as their first project?
0:09:38 > 0:09:42Just because we obviously wanted something that we could do, sort of,
0:09:42 > 0:09:44wholesale changes to it
0:09:44 > 0:09:48as opposed to just come in and paint and decorate
0:09:48 > 0:09:50cos it's going to need quite a bit of work.
0:09:50 > 0:09:52It's just a nice opportunity
0:09:52 > 0:09:54to really bring it back to something good again.
0:09:54 > 0:09:57Let's focus on the floor before we talk about anything else.
0:09:57 > 0:10:00What investigations have you done to determine whether or not...
0:10:00 > 0:10:04Well, so we've got to get a red ash test done and if there is,
0:10:04 > 0:10:07it'll be a case of break the concrete up that's down,
0:10:07 > 0:10:12get that out, dig the red ash up and then hard core
0:10:12 > 0:10:16and concrete screw the floor again on top of that.
0:10:16 > 0:10:18Such a little thing but such a massive potential job.
0:10:18 > 0:10:20I mean, if you have got that.
0:10:20 > 0:10:22So let's talk about what you're going to do.
0:10:22 > 0:10:23Talk me through the project plan.
0:10:23 > 0:10:25I think we're going to put a conservatory on the back
0:10:25 > 0:10:28just outside the doors there.
0:10:28 > 0:10:31The layout itself is going to stay as it is.
0:10:31 > 0:10:34We did look at extending but apparently the market in the area
0:10:34 > 0:10:36is for two-beds,
0:10:36 > 0:10:39so I think it'll just be a case of a full rewire,
0:10:39 > 0:10:42all the plumbing as well cos all the pipes are on display,
0:10:42 > 0:10:44so we'll get those in the wall.
0:10:44 > 0:10:48A new bathroom, new kitchen, new windows.
0:10:48 > 0:10:50There's going to be some work needed to be done on the roof
0:10:50 > 0:10:54because some of the ladders have collapsed on the ends of the roof.
0:10:54 > 0:10:56What kind of budget have you set aside for the work?
0:10:56 > 0:11:00We're hoping to fall between 25 and 30.
0:11:00 > 0:11:04I think 25 without having to dig everything up
0:11:04 > 0:11:06and probably around 30,000 if we have to.
0:11:06 > 0:11:08Only £5,000 to do all the digging out?
0:11:08 > 0:11:10Yeah, just because I'll be doing it myself.
0:11:10 > 0:11:13- It is just a slog, isn't it? - It is! It's unfortunate.
0:11:13 > 0:11:15I mean, there's some good kit out there
0:11:15 > 0:11:17that helps you get it out of the house
0:11:17 > 0:11:22but it will be a case of just get your head down and dig for a bit.
0:11:23 > 0:11:25Luke will certainly have to dig deep
0:11:25 > 0:11:28to find the strength to do that work if it comes to it.
0:11:28 > 0:11:31He won't be doing all the work on his own, though,
0:11:31 > 0:11:35as he will get in other trades for electric and gas.
0:11:35 > 0:11:38How long will it take to get it all done?
0:11:38 > 0:11:42Hopefully three to four months and obviously that also depends on...
0:11:42 > 0:11:44- The floor.- ..how far we have to go with it.
0:11:44 > 0:11:47But, yeah, hopefully four months we can turn it round
0:11:47 > 0:11:50- and then get it on the market. - And then on to the next one?
0:11:50 > 0:11:53100%, yes. Well, we'll see how this one goes first
0:11:53 > 0:11:57and then we'll take it from there but hopefully, yes.
0:11:57 > 0:11:59Well, congratulations. Lovely to meet you.
0:11:59 > 0:12:02- Good luck with it.- Thank you.- Look forward to seeing how you get on.
0:12:02 > 0:12:06So, Luke has spotted the opportunity with this place
0:12:06 > 0:12:08but is also aware of the potential problems.
0:12:08 > 0:12:12He's not frightened of a bit of hard labour to sort them out.
0:12:12 > 0:12:17How will he - and his back, more importantly - be when we return?
0:12:17 > 0:12:19You can find out later in the show.
0:12:24 > 0:12:27Well, this is Sydenham in south London,
0:12:27 > 0:12:31a community which has been in existence since the 17th century.
0:12:31 > 0:12:33Back then it was just a handful of cottages
0:12:33 > 0:12:35with a few grazing animals,
0:12:35 > 0:12:38but that all changed in 1640
0:12:38 > 0:12:40with the discovery of natural springs
0:12:40 > 0:12:44whose water was thought to contain healing properties.
0:12:44 > 0:12:47London's elite flocked here to take the cure
0:12:47 > 0:12:49and when the city's population expanded,
0:12:49 > 0:12:53Sydenham became a fashionable and affluent place to live.
0:12:55 > 0:12:58Back to the 21st century and it's a different Sydenham story
0:12:58 > 0:13:03as despite a busy high street and three train stations to choose from,
0:13:03 > 0:13:07properties here are significantly cheaper than nearby Dulwich
0:13:07 > 0:13:09and next-door neighbour Forest Hill.
0:13:09 > 0:13:14So, what do you get for the guide price of £195,000
0:13:14 > 0:13:16along this lovely road?
0:13:16 > 0:13:19Well, one of the most sought-after in the area, so I'm told.
0:13:19 > 0:13:24It's a one-bedroom ground-floor flat in this Victorian property here.
0:13:24 > 0:13:26Well, it looks so pretty from the front,
0:13:26 > 0:13:29although the foliage hanging over that front door
0:13:29 > 0:13:31could do with a bit of a trim up, I think.
0:13:33 > 0:13:35With the elite long gone,
0:13:35 > 0:13:38a lot of these properties have been turned into flats now
0:13:38 > 0:13:42but I think they still retain a certain grandeur.
0:13:44 > 0:13:46Well, there's a lot to talk about with this property,
0:13:46 > 0:13:49so as soon as you walk in the door the first thing...
0:13:49 > 0:13:52- SHE SNIFFS - ..that I can smell is damp.
0:13:52 > 0:13:54So, there's the lounge. It's not a bad size.
0:13:54 > 0:13:56You've got lovely stripped wooden floorboards,
0:13:56 > 0:13:58which if you were to repaint them would look fantastic.
0:13:58 > 0:14:01But I can really smell damp and that's bothering me.
0:14:01 > 0:14:03So let's hope whoever does take this property on
0:14:03 > 0:14:07does check that damp because it's quite pungent in here
0:14:07 > 0:14:10and I'm not quite sure about the choice of colour scheme.
0:14:10 > 0:14:13What would you call this? Mud brown.
0:14:13 > 0:14:14Now, that's not a great colour
0:14:14 > 0:14:19considering you've got a very long, narrow, windy corridor.
0:14:19 > 0:14:23Now, in through this doorway and you've got the kitchen.
0:14:23 > 0:14:25Now, what I love about this is the high ceilings,
0:14:25 > 0:14:28so it feels a lot bigger than it actually is.
0:14:28 > 0:14:31And again, you've got some wow colours -
0:14:31 > 0:14:35bright orange over there, a sort of greeny colour on the door here.
0:14:35 > 0:14:38You've got lots of nice light coming in through here
0:14:38 > 0:14:41but the kitchen units are old, they need to be changed.
0:14:41 > 0:14:44The flooring's a bit tatty and it looks as though...
0:14:44 > 0:14:48there may have been a bit of a leak from one of the flats upstairs,
0:14:48 > 0:14:50so that needs investigating.
0:14:50 > 0:14:52But so far, not too bad.
0:14:54 > 0:14:59So continuing down the long, windy corridor is the bathroom.
0:14:59 > 0:15:03Now, I think it's a bit of a luxury to have a bathroom of this size.
0:15:03 > 0:15:05I mean, gosh, there's plenty of room in there,
0:15:05 > 0:15:08so I would say that's a bit of a waste.
0:15:08 > 0:15:11Also, this area here is dead space.
0:15:11 > 0:15:14Corridors, what can you use them for?
0:15:14 > 0:15:16I suppose you could put a little bit of storage in here
0:15:16 > 0:15:18but there's not a lot going on here.
0:15:18 > 0:15:22And then you come straight the way through into one of the rooms
0:15:22 > 0:15:24at the back of the whole of the property.
0:15:24 > 0:15:28But here's my thought, why don't you cut the bathroom in half?
0:15:28 > 0:15:30You could use all this space here.
0:15:30 > 0:15:32You would have to take this wall down, this wall down
0:15:32 > 0:15:35and you could open the whole area up
0:15:35 > 0:15:39and you could use this as the kitchen, dining, relaxing space.
0:15:39 > 0:15:43And the reason why it's the best room is because,
0:15:43 > 0:15:45look, it looks out onto that.
0:15:45 > 0:15:51Now, this flat has the sole use of that really lovely pretty garden.
0:15:51 > 0:15:54I would probably change these windows, put some nice French doors,
0:15:54 > 0:15:57so you do have, ultimately, a second room out there.
0:15:57 > 0:15:59You've got your very own garden.
0:15:59 > 0:16:04Then that means you could turn the kitchen into bedroom number two
0:16:04 > 0:16:07and I really think it certainly is the way to go.
0:16:09 > 0:16:13Another option for creating more living space lies below ground.
0:16:13 > 0:16:19# Deeper and deeper and deeper and deeper... #
0:16:19 > 0:16:22And if you had deeper pockets to dig into this large cellar,
0:16:22 > 0:16:25well, it could be dry-lined and used as a studio
0:16:25 > 0:16:27or even a third bedroom.
0:16:28 > 0:16:32But don't forget that before you make any structural changes
0:16:32 > 0:16:34to a leasehold flat like this,
0:16:34 > 0:16:36you'll need permission from the freeholder.
0:16:36 > 0:16:38Now, this will probably come at a cost,
0:16:38 > 0:16:41which should be factored into your renovation budget.
0:16:41 > 0:16:44And don't forget the freeholder can still withhold consent
0:16:44 > 0:16:48if they don't feel the changes you're making are an improvement.
0:16:51 > 0:16:55But what will a local estate agent think of the potential here?
0:16:55 > 0:16:57Would creating an extra bedroom be worthwhile?
0:16:57 > 0:17:01If this was my property, I would definitely convert the kitchen,
0:17:01 > 0:17:02make that into a bedroom
0:17:02 > 0:17:05and put an open-plan kitchen in the lounge area.
0:17:05 > 0:17:07A complete refurbishment throughout.
0:17:07 > 0:17:10Excellent. We are agreed on that rejig.
0:17:10 > 0:17:12The current living room becomes bedroom one
0:17:12 > 0:17:14and the kitchen becomes bedroom two.
0:17:14 > 0:17:18However, swapping plumbing and drains doesn't come cheap.
0:17:18 > 0:17:21This flat had a guide price of 195,000
0:17:21 > 0:17:24and the agent thinks it would cost around £20,000
0:17:24 > 0:17:26to create that second bedroom.
0:17:26 > 0:17:29So, what could it make on the market?
0:17:29 > 0:17:31If we were to put this property on the market
0:17:31 > 0:17:33as a two-bedroom property, we would market in the region of
0:17:33 > 0:17:36£350,000-£375,000.
0:17:36 > 0:17:39For the letting side, we would market the property at £1,400
0:17:39 > 0:17:40per calendar month.
0:17:40 > 0:17:44So, if the layout was left as it is but the flat was fully renovated,
0:17:44 > 0:17:46what would it be worth?
0:17:46 > 0:17:48As a renovated one-bedroom property,
0:17:48 > 0:17:53we would put this property on the market for £315,000-£325,000.
0:17:53 > 0:17:56For lettings, we would market the property at £1,250
0:17:56 > 0:17:57per calendar month.
0:17:58 > 0:18:01Well, if you can get over the colour scheme in there,
0:18:01 > 0:18:05you can see beyond those long, windy corridors and the damp smell,
0:18:05 > 0:18:08well, I think this could be a really nice garden flat.
0:18:08 > 0:18:11And with the potential of creating that second bedroom too,
0:18:11 > 0:18:14well, there could be money to be made.
0:18:14 > 0:18:16Who agreed? Let's head to auction and find out.
0:18:19 > 0:18:24Moving down to Lot 177, one-bedroom flat.
0:18:24 > 0:18:25Invite your bids.
0:18:26 > 0:18:27200 anywhere?
0:18:28 > 0:18:30190?
0:18:30 > 0:18:32190 straightaway.
0:18:32 > 0:18:33195 anywhere?
0:18:33 > 0:18:37That guide price of 195,000 came and went
0:18:37 > 0:18:39and the bids continued to climb.
0:18:39 > 0:18:43We rejoin the bidding at 296,000.
0:18:43 > 0:18:44296, sir.
0:18:44 > 0:18:46297?
0:18:46 > 0:18:48297. 298.
0:18:48 > 0:18:50Come on, 300 might be his limit. 298?
0:18:52 > 0:18:55298. 299?
0:18:55 > 0:18:56299. 300?
0:18:56 > 0:18:59300. 301?
0:18:59 > 0:19:01It was 300, his limit. No, 301. Sorry.
0:19:01 > 0:19:03302? Well bid.
0:19:03 > 0:19:06So 301 at the back of the room.
0:19:06 > 0:19:08Anyone else here for this lot?
0:19:08 > 0:19:11Selling lot 117 for 301,000.
0:19:11 > 0:19:13301 for the first.
0:19:13 > 0:19:15301 for the second.
0:19:15 > 0:19:19301 for the third and final time.
0:19:19 > 0:19:20Sold.
0:19:24 > 0:19:26With that successful bid of 301,000
0:19:26 > 0:19:30Andy and Laura secured a flat on the best street in the area.
0:19:30 > 0:19:34But was paying more than £100,000 over the guide price
0:19:34 > 0:19:37a bit of a stretch for this local couple?
0:19:37 > 0:19:39I met them back at the property to find out more.
0:19:41 > 0:19:44Laura and Andrew, congratulations.
0:19:44 > 0:19:46This really is a lovely road, isn't it?
0:19:46 > 0:19:49- Yeah, it is.- It's beautiful, yeah. - It's really nice and peaceful.
0:19:49 > 0:19:53Who was it who spotted this flat and why do you guys want to buy it?
0:19:53 > 0:19:56Well, I've been looking for a few months now.
0:19:56 > 0:19:59We've got some news, we've got a baby on the way
0:19:59 > 0:20:04so we're pretty keen to buy somewhere before the new arrival.
0:20:04 > 0:20:06Congratulations, guys, I can see that.
0:20:06 > 0:20:08Laura, how many months are you?
0:20:08 > 0:20:11About six and a half, so...nearly seven.
0:20:11 > 0:20:15Yeah, it feels like it's moving quite quickly now.
0:20:15 > 0:20:17So you've taken on quite a lot before the imminent arrival
0:20:17 > 0:20:20of the baby. What were you thinking, guys?!
0:20:20 > 0:20:22We've got a deadline. You know, need a bit of pressure
0:20:22 > 0:20:25- to get things done.- Exactly! - Yeah, we like to be busy, I suppose.
0:20:25 > 0:20:29- So you've bought this for investment purposes?- Yes.
0:20:30 > 0:20:34Yeah. Well, we were kind of thinking we might move into it but...
0:20:34 > 0:20:37- Yeah, we'll see how it goes. - ..keeping our options open as well.
0:20:37 > 0:20:39So you're going to see how well it turns out
0:20:39 > 0:20:41- as to whether or not you do decide to move in?- Yeah.
0:20:41 > 0:20:44So, Laura, what are your thoughts on the whole idea of this?
0:20:44 > 0:20:47Yeah, I was really pleased actually with it
0:20:47 > 0:20:51cos I didn't see it before Andy...well, we bought it...
0:20:51 > 0:20:54Hold on a minute, you've spent nearly 300 grand on this flat...
0:20:54 > 0:20:57- That's right, yeah. - ..and you didn't even see it?
0:20:57 > 0:20:59- And you're having a baby together? - Yeah, I know.- What?
0:20:59 > 0:21:01That's trust, isn't it?
0:21:01 > 0:21:02That's love!
0:21:02 > 0:21:04# Crazy little thing called love... #
0:21:08 > 0:21:10Now, seriously, when I was six and a half months pregnant,
0:21:10 > 0:21:13all I wanted to do was put my feet up.
0:21:13 > 0:21:16This sounds a little bit stressful and uncertain for my liking.
0:21:16 > 0:21:19Possibly move in or rent in the short term,
0:21:19 > 0:21:23renovate in the longer term, whatever the longer term is.
0:21:23 > 0:21:26How quickly do you intend to sort of want to put this back on the market?
0:21:26 > 0:21:29- Er...- Considering you're having a baby soon!- Yeah.
0:21:29 > 0:21:31I said to Andy I wanted to, you know...
0:21:31 > 0:21:37He can buy it if he does everything within three months
0:21:37 > 0:21:39cos I'm obviously due in three months.
0:21:41 > 0:21:42(What were you thinking?)
0:21:42 > 0:21:45- Did you tell her that you could do that?!- Realistically,
0:21:45 > 0:21:48- it's not going to happen.- I thought it's an option. A quick win option.
0:21:48 > 0:21:50Well, he's going to have to be quick
0:21:50 > 0:21:52but thankfully they have a team of builders
0:21:52 > 0:21:56that they know they can trust and Andy will be project managing. Phew!
0:21:56 > 0:21:59So you've spent £301,000. What budget have you got?
0:21:59 > 0:22:01How much more can you add to this?
0:22:01 > 0:22:04Well, it's tricky. It depends what we actually do.
0:22:04 > 0:22:06If we do a quick fix, you know,
0:22:06 > 0:22:10just a new kitchen and a new bathroom
0:22:10 > 0:22:13probably 7,000 at a guesstimate.
0:22:13 > 0:22:16But, I mean, if we do anything more major, obviously...
0:22:17 > 0:22:19..well, I don't know, to be honest.
0:22:19 > 0:22:2220, 30,000, which we don't actually have at the moment, so...
0:22:22 > 0:22:24Assuming that they did have that money,
0:22:24 > 0:22:27I wonder how they see the spaces being re-jigged
0:22:27 > 0:22:28to create the second bedroom?
0:22:28 > 0:22:31There's a few ways we think we might be able to do that.
0:22:31 > 0:22:34Possibly building out into the side return.
0:22:36 > 0:22:37Possibly moving the wall back
0:22:37 > 0:22:40between the kitchen and the living room.
0:22:40 > 0:22:42Or possibly converting the cellar.
0:22:42 > 0:22:44So let me ask you this question.
0:22:44 > 0:22:46If you just end up spending £7,000 on this
0:22:46 > 0:22:48and you just give it a bit of a face-lift,
0:22:48 > 0:22:51do you intend to make a profit still from this property?
0:22:51 > 0:22:54- Probably not if we sold it straightaway...- Oh, no.
0:22:54 > 0:22:56..but I don't think we'd intend to do that
0:22:56 > 0:22:59without doing the extra work to make it a two-bedroom place.
0:22:59 > 0:23:01So, what, would you rent it out immediately?
0:23:01 > 0:23:04- Yes, that would be the intention, wouldn't it?- Yeah, definitely.
0:23:04 > 0:23:08Do it up, rent it out and then when we have...
0:23:08 > 0:23:11things have calmed down, I suppose, and have more money
0:23:11 > 0:23:13then we'd definitely turn it into a two-bed.
0:23:13 > 0:23:15It's just the time constraint, isn't it? And, I mean...
0:23:15 > 0:23:18I like the way he keeps looking at your tummy, Laura!
0:23:18 > 0:23:22- I know. It's all my fault. - LUCY LAUGHS
0:23:22 > 0:23:25- Good luck with the baby!- Yeah, thanks. Little Harry, hopefully.
0:23:25 > 0:23:27- You've already named him?- Yeah.
0:23:27 > 0:23:31- Harry on Homes Under The Hammer. - Yeah.- Well, I'm so excited.
0:23:31 > 0:23:33- Guys, it's been lovely to meet you...- You too.- ..and good luck
0:23:33 > 0:23:36and it's going to be really interesting to see the outcome.
0:23:36 > 0:23:38- Thank you.- Andrew, well done. - Thanks.
0:23:39 > 0:23:42Well, I think it's fair to say that Andrew and Laura
0:23:42 > 0:23:44have got quite a lot on their plate at the moment -
0:23:44 > 0:23:47a flat to renovate and their first baby on the way.
0:23:47 > 0:23:50But I really do hope they make this into a two-bed flat
0:23:50 > 0:23:53as that really is where the money lies.
0:23:53 > 0:23:56How will they get on? And will we return to see baby Harry?
0:23:56 > 0:24:00I hope so. Join me later in the programme and you can find out.
0:24:02 > 0:24:04Coming up in West Brom,
0:24:04 > 0:24:07is there more to this property than meets the eye?
0:24:07 > 0:24:10Whoever gets hold of this house, a bit of a bonus.
0:24:12 > 0:24:13And we return to south London,
0:24:13 > 0:24:17where it seems life is full of unexpected delights.
0:24:17 > 0:24:19- Gosh...- Yeah, surprised by that.
0:24:19 > 0:24:21Yeah, that's good, very good.
0:24:26 > 0:24:29But first, we return to the Trentham area
0:24:29 > 0:24:34just outside Stoke-on-Trent and Newcastle-under-Lyme.
0:24:34 > 0:24:36And it was here that we first caught sight
0:24:36 > 0:24:40of that increasingly rare beastie - a two-bedroom bungalow.
0:24:44 > 0:24:47And this property should definitely have been on the endangered list
0:24:47 > 0:24:50with signs of neglect inside and out
0:24:50 > 0:24:54and a floor that would challenge the most ardent jigsaw enthusiast.
0:24:54 > 0:24:56Now, you'll notice that throughout the bungalow
0:24:56 > 0:25:01the parquet flooring tiles are actually coming up.
0:25:01 > 0:25:03And you could sort of glance at this and think,
0:25:03 > 0:25:06well, maybe just the glue or whatever they use to stick it down
0:25:06 > 0:25:07has failed over time.
0:25:07 > 0:25:10My concern is that it's something a bit more sinister.
0:25:10 > 0:25:15# I'm falling to pieces, yeah
0:25:15 > 0:25:20# I'm falling to pieces. #
0:25:20 > 0:25:23Yes, this potentially showed signs that red ash was used
0:25:23 > 0:25:26during the construction and if that was the case
0:25:26 > 0:25:29then all the floors might have needed to be dug up,
0:25:29 > 0:25:33making what was already a pretty comprehensive renovation
0:25:33 > 0:25:35a whole lot bigger.
0:25:35 > 0:25:38So, it all comes down to your attitude to risk.
0:25:39 > 0:25:42How do you feel? Are you going to take this one? Or this one?
0:25:44 > 0:25:47There was undoubtedly an element of gamble here
0:25:47 > 0:25:50and the people prepared to take a chance on the bungalow
0:25:50 > 0:25:54were first-time developers Luke and his father-in-law, Stephen.
0:25:57 > 0:26:00They bought the bungalow for £138,000
0:26:00 > 0:26:02and Luke came to tell me more.
0:26:02 > 0:26:06# I saw something in you. #
0:26:06 > 0:26:08Is this the sort of thing you've done before?
0:26:08 > 0:26:10Not development. So, I am a joiner.
0:26:10 > 0:26:11I've always wanted to do it,
0:26:11 > 0:26:15so now we've taken the plunge and we're going for it.
0:26:15 > 0:26:17And with Luke's joinery skills,
0:26:17 > 0:26:21he was earmarked to do the bulk of the renovation work.
0:26:21 > 0:26:24While father-in-law, Stephen, kept an eye on the proposed
0:26:24 > 0:26:29£25-£30,000 budget and their three to four month timescale.
0:26:30 > 0:26:33Well, seven months later we're back.
0:26:33 > 0:26:36So, has Luke managed to piece the bungalow back together again?
0:26:39 > 0:26:42Well, it's no longer lurking in the long grass
0:26:42 > 0:26:45and its curb appeal has gone up a notch or two
0:26:45 > 0:26:48with new windows and a newly tarmacked driveway.
0:26:50 > 0:26:52And inside...
0:27:03 > 0:27:06In the kitchen, we've had a bit of a layout change
0:27:06 > 0:27:11cos there were some brick cupboards, so we've removed those.
0:27:13 > 0:27:16Wow! What an elegant space.
0:27:16 > 0:27:19In terms of the bathroom, that was ripped out.
0:27:19 > 0:27:25We've put in a shower, all re-tiled, new toilet, basin.
0:27:29 > 0:27:33To go alongside that crisp, contemporary kitchen and bathroom,
0:27:33 > 0:27:35the two bedrooms are looking fab...
0:27:45 > 0:27:48..and the lounge space has been extended.
0:27:48 > 0:27:50We've also put a conservatory on the back.
0:27:52 > 0:27:55Well, I think the conservatory is a great addition.
0:27:55 > 0:27:58It brings in so much more light into the lounge
0:27:58 > 0:28:00and gives great access to the garden.
0:28:02 > 0:28:05The biggest challenge was probably the garden,
0:28:05 > 0:28:08having not been touched, either the front or the rear garden,
0:28:08 > 0:28:11for near on six years, we believe.
0:28:11 > 0:28:14Yes, this became a massive project in itself
0:28:14 > 0:28:18with years of neglect to sort out, but just look at it now.
0:28:24 > 0:28:27This uncovered garden really is great.
0:28:27 > 0:28:30It's a mixture of low-maintenance,
0:28:30 > 0:28:33yet with the more mature shrubs and trees,
0:28:33 > 0:28:36it has some well-established features.
0:28:36 > 0:28:38There is even a greenhouse for the keen gardener.
0:28:38 > 0:28:41So, all in all, everything's looking fantastic
0:28:41 > 0:28:43in both the garden and the bungalow.
0:28:44 > 0:28:46But what about that floor?
0:28:46 > 0:28:48How big a job was that?
0:28:48 > 0:28:51We had a company out to do a red ash test
0:28:51 > 0:28:55and that, fortunately for us, came back that we didn't need to take
0:28:55 > 0:28:58any action. That the red ash wasn't there or a problem,
0:28:58 > 0:29:02so that was quite a large cost that we managed to avoid.
0:29:03 > 0:29:05Phew! That is a relief.
0:29:05 > 0:29:08Mind you, they might not have found red ash under the parquet tiles
0:29:08 > 0:29:11but there was something lurking in the cupboards.
0:29:13 > 0:29:16There was a couple of rats' nests and things in the wardrobe,
0:29:16 > 0:29:18so it's...
0:29:18 > 0:29:20- I hope they've gone now, have they? - HE LAUGHS
0:29:22 > 0:29:24We decided to get rid of those rather than leave them
0:29:24 > 0:29:26for a potential buyer.
0:29:26 > 0:29:27# I smell a rat
0:29:28 > 0:29:30# I smell a rat. #
0:29:30 > 0:29:31Well, I'm glad to hear that, Luke.
0:29:31 > 0:29:35But those unwelcome visitors often make nests with shredded materials
0:29:35 > 0:29:37like loft installation.
0:29:37 > 0:29:39You might not have seen them on the viewing,
0:29:39 > 0:29:41as they are active between dusk and dawn
0:29:41 > 0:29:44but look out for droppings or rub marks on the skirtings
0:29:44 > 0:29:47along their favourite routes. Eugh!
0:29:47 > 0:29:49But with rodents repelled and the renovation done,
0:29:49 > 0:29:52what does Stephen think of Luke's love?
0:29:52 > 0:29:57The actual project itself has been a labour of love to Luke
0:29:57 > 0:30:01and in terms of what he's delivered here, we are absolutely delighted.
0:30:01 > 0:30:04I haven't told him that up until today so, yes.
0:30:04 > 0:30:06I may have been the taskmaster
0:30:06 > 0:30:10but I am actually thrilled with what he's achieved.
0:30:10 > 0:30:15# You make me so very happy... #
0:30:15 > 0:30:17And so he should be.
0:30:17 > 0:30:19But because Luke had other work commitments,
0:30:19 > 0:30:21the renovation has taken seven months.
0:30:21 > 0:30:24Nearly twice as long to complete as they hoped.
0:30:24 > 0:30:26And how about their budget? How has that fared?
0:30:28 > 0:30:3325 to 30,000 was our initial budget and I think classically,
0:30:33 > 0:30:36if you double those figures, you're not normally very wrong
0:30:36 > 0:30:40and I don't think we were very far off doubling our 25,000
0:30:40 > 0:30:43to achieve what we've actually got today.
0:30:43 > 0:30:47So currently their spend stands around the £50,000 mark.
0:30:47 > 0:30:51And with their £138,000 purchase price,
0:30:51 > 0:30:55Stephen and Luke will have invested £188,000
0:30:55 > 0:30:58into their first property venture.
0:30:58 > 0:31:00So, is it money well spent?
0:31:00 > 0:31:02What do two local estate agents think?
0:31:03 > 0:31:06The development has been done particularly well.
0:31:06 > 0:31:08It's been done to exacting standards throughout and I think
0:31:08 > 0:31:11they've picked up on the really good features of the property
0:31:11 > 0:31:13and I'm sure they're going to have great success.
0:31:13 > 0:31:16Really good standard of refurbishment.
0:31:16 > 0:31:18The way the guys have done it, it's fantastic.
0:31:18 > 0:31:19Really high spec.
0:31:19 > 0:31:22Really nice curb appeal, really good.
0:31:22 > 0:31:25I think the conservatory has been a particularly good addition
0:31:25 > 0:31:27to the property. It works well being off the lounge
0:31:27 > 0:31:29and I think, for the kind of person that's going to buy it,
0:31:29 > 0:31:32they're particularly going to enjoy sitting in there
0:31:32 > 0:31:34and looking out over what is a fantastic garden.
0:31:36 > 0:31:40Yes, they've done a great job here but having invested £188,000
0:31:40 > 0:31:44into the bungalow, Stephen and Luke are hoping for a quick resale.
0:31:46 > 0:31:48I think resale price on the market currently
0:31:48 > 0:31:53would stand anywhere between 230 to 235,000.
0:31:53 > 0:31:56I think this property, in the current standard,
0:31:56 > 0:31:59I feel it would achieve £230,000.
0:31:59 > 0:32:02- I think that stacks up for us, doesn't it?- Absolutely.
0:32:02 > 0:32:05Providing it's the 235 and not the 230.
0:32:05 > 0:32:09Well, with either the £230,000 value
0:32:09 > 0:32:12we would see a pre-tax profit of £42,000.
0:32:12 > 0:32:16That's not bad. And the agents also said rental values
0:32:16 > 0:32:20between £700 and £800 per calendar month could be possible,
0:32:20 > 0:32:24which would generate a reasonable yield just below 5%.
0:32:24 > 0:32:26So does the success of this project
0:32:26 > 0:32:28mean there are more joint ventures planned?
0:32:28 > 0:32:31We looked at another one this morning, so there we go.
0:32:31 > 0:32:35Let's hope that we can find one and deliver the same type of package.
0:32:39 > 0:32:43Today, I'm in the West Midlands town of West Bromwich,
0:32:43 > 0:32:47an area I know reasonably well from playing for Aston Villa.
0:32:47 > 0:32:51The local derbies against West Brom were fiercely contested
0:32:51 > 0:32:54and it was a difficult place to get a victory.
0:32:54 > 0:32:57Let's hope this visit unearths a winning property.
0:32:58 > 0:33:02# You win some, you lose some. #
0:33:04 > 0:33:06I'm in the home of The Baggies,
0:33:06 > 0:33:08just five minutes away from the centre of West Brom,
0:33:08 > 0:33:12where you've got all the shops and restaurants you could wish for.
0:33:12 > 0:33:13I've got a school across the road,
0:33:13 > 0:33:16I've got Sandwell Hospital less than ten minutes' drive away
0:33:16 > 0:33:19and all the local amenities you could want,
0:33:19 > 0:33:23which adds up to a great location for the property I'm here to see.
0:33:23 > 0:33:27It's got three bedrooms and a guide price of in between 59 and £64,000.
0:33:27 > 0:33:29Let's have a look.
0:33:34 > 0:33:38OK, we are into a decent-sized hallway here.
0:33:38 > 0:33:41You've got your stairs going up to the bedrooms.
0:33:41 > 0:33:45First room here, which is the front room, is a good-sized room.
0:33:45 > 0:33:48A really nice big double-glazed window letting lots of light in
0:33:48 > 0:33:51and central heating in there as well, which is great.
0:33:51 > 0:33:54And you've also got central heating here in the hallway.
0:33:54 > 0:33:58A little bit of storage space underneath the stairs as well.
0:33:58 > 0:34:01Through into a kitchen-diner.
0:34:01 > 0:34:05And you know I like a kitchen-diner. Lots of space here.
0:34:05 > 0:34:08These units look OK. They're a bit tired.
0:34:08 > 0:34:10You could keep them.
0:34:10 > 0:34:12I'd possibly prefer to take all this out
0:34:12 > 0:34:15and put a nice spick-and-span brand-new kitchen in here,
0:34:15 > 0:34:16really set it off.
0:34:16 > 0:34:19But it's not a bad start at all.
0:34:20 > 0:34:21I'm happy.
0:34:26 > 0:34:28And the happiness continues upstairs,
0:34:28 > 0:34:31where there are two decent-sized double bedrooms
0:34:31 > 0:34:32and a smaller single.
0:34:34 > 0:34:36The family bathroom is perfectly adequate
0:34:36 > 0:34:39but if you had room and it's in your budget,
0:34:39 > 0:34:42you might want to think about replacing this with a modern style.
0:34:44 > 0:34:49So, outside in the back garden and look at the size of this space.
0:34:49 > 0:34:52It is a bit overgrown. It's not in the best of conditions,
0:34:52 > 0:34:54you can see the fence has fallen down there as well.
0:34:54 > 0:34:57But if you spent a bit of time out here and got this grass cut down
0:34:57 > 0:35:00you'd have a really nice, smart back garden.
0:35:00 > 0:35:03Now, I've just been doing a bit of detective work.
0:35:03 > 0:35:06Now, this might look like a brand-new house
0:35:06 > 0:35:09but if you have a look down there at those paving slabs...
0:35:11 > 0:35:14..they are obviously a lot older than what this house looks
0:35:14 > 0:35:16and let me show this as well.
0:35:16 > 0:35:19You've got an outside toilet
0:35:19 > 0:35:22and I don't know many new houses that have got an outside toilet
0:35:22 > 0:35:25and paving slabs that look like that.
0:35:25 > 0:35:28So these two are a lot older than this brick,
0:35:28 > 0:35:31which leads me to believe that this single-brick skin
0:35:31 > 0:35:35has been put onto a solid wall to create a cavity
0:35:35 > 0:35:36and a bit of insulation.
0:35:36 > 0:35:39So whoever gets hold of this house, bit of a bonus.
0:35:42 > 0:35:45I've actually ran out of good things to say about this place,
0:35:45 > 0:35:48so it's time to hear from a local property expert.
0:35:48 > 0:35:50And while he's investigating,
0:35:50 > 0:35:53I'm going to bounce a few ideas off the neighbours.
0:35:54 > 0:35:59# Be young, be foolish but be happy
0:35:59 > 0:36:01# Do, do, do, do, do-do
0:36:01 > 0:36:07# Be young, be foolish but be happy. #
0:36:07 > 0:36:09I think the property could benefit from having a new kitchen suite
0:36:09 > 0:36:11and a new bathroom put in. Also, perhaps,
0:36:11 > 0:36:15splitting the dining room and the kitchen to two separate rooms
0:36:15 > 0:36:18and maybe even extending outwards cos the garden is quite large.
0:36:21 > 0:36:24How much would the new owner have to spend to get this place
0:36:24 > 0:36:25back up to scratch?
0:36:25 > 0:36:29I think the property probably needs about £10,000 to £15,000
0:36:29 > 0:36:31spending on it with a new kitchen suite, a new bathroom
0:36:31 > 0:36:34and some carpets and paintwork throughout.
0:36:34 > 0:36:37And how much would he expect this house to be worth
0:36:37 > 0:36:38once it's been renovated?
0:36:38 > 0:36:43I expect the property to reach a sale value of around £125,000.
0:36:45 > 0:36:48I can't see an awful lot wrong with this house.
0:36:48 > 0:36:50There's not a lot to be done at all.
0:36:50 > 0:36:52Central heating's there, double glazing's in.
0:36:52 > 0:36:54It's up to you how much you want to do.
0:36:54 > 0:36:57Let's see who fancied it when it went under the hammer.
0:36:58 > 0:37:04This next lot is a three-bedroomed, Freehold semidetached house
0:37:04 > 0:37:06we're offering with vacant possession.
0:37:06 > 0:37:08At £70,000, am I bid?
0:37:10 > 0:37:13At 70 and what a buy this will be, sir, and thank you.
0:37:13 > 0:37:14At 70,000 I'm bid.
0:37:14 > 0:37:17At 70,000 I'm bid. It's at 80 now.
0:37:18 > 0:37:19At 70,000 I'm bid...
0:37:19 > 0:37:21That optimistic request from the auctioneer
0:37:21 > 0:37:24was met with stony silence from the public
0:37:24 > 0:37:27and it took quite a few minutes for the price to climb
0:37:27 > 0:37:29to a much more respectable £90,000
0:37:29 > 0:37:31and that's where we rejoin the bidding.
0:37:31 > 0:37:34It's yours, sir. At £90,000 are we all done?
0:37:34 > 0:37:37One, two, three...
0:37:37 > 0:37:38Whoo, 91.
0:37:38 > 0:37:4092? No?
0:37:40 > 0:37:42So, you leave it ever so late.
0:37:42 > 0:37:44There's a 50-50 chance you're going to lose it.
0:37:44 > 0:37:46At 91,000, are we all done?
0:37:46 > 0:37:48Do you want 92?
0:37:48 > 0:37:5091,500. 92, sir?
0:37:52 > 0:37:53Yes? No?
0:37:53 > 0:37:55Does no mean no, sir?
0:37:55 > 0:37:58At 91,500.
0:37:58 > 0:38:0192. 92,500?
0:38:01 > 0:38:02No?
0:38:02 > 0:38:05At 92,000 on the aisle, then.
0:38:05 > 0:38:06Are we all done?
0:38:08 > 0:38:1092,500. 93?
0:38:11 > 0:38:1293.
0:38:12 > 0:38:1493,5?
0:38:14 > 0:38:17No? I think you mean it this time, don't you, sir?
0:38:17 > 0:38:20At 93,000, are we all done?
0:38:20 > 0:38:23One, two, three... 309 gets it.
0:38:23 > 0:38:25£93,000.
0:38:25 > 0:38:29That successful and final bid of £93,000
0:38:29 > 0:38:32for the West Bromwich semi was made by Benito,
0:38:32 > 0:38:34who originally hails from Italy.
0:38:34 > 0:38:37Ben, as he's known, has had a few different careers
0:38:37 > 0:38:39but since retiring,
0:38:39 > 0:38:42has concentrated on building up his company's portfolio,
0:38:42 > 0:38:43which just goes to show...
0:38:43 > 0:38:45# It's never too late
0:38:46 > 0:38:47# Oh-oo-oo
0:38:47 > 0:38:49# It's never too late. #
0:38:49 > 0:38:51- Ben, nice to meet you.- And you, sir.
0:38:51 > 0:38:53- Congratulations.- Thank you.
0:38:53 > 0:38:55Why did you choose this house?
0:38:55 > 0:39:00I felt it was a good build, good building,
0:39:00 > 0:39:05it's safe and requiring very little make-up.
0:39:05 > 0:39:07So is this the kind of place that you look for?
0:39:07 > 0:39:11Yes, mostly. I look for places that have space...
0:39:12 > 0:39:16..facilities and can be developed comfortably
0:39:16 > 0:39:18if it needs to,
0:39:18 > 0:39:23for giving the tenants, be it if it's going to be rented out,
0:39:23 > 0:39:28a good accommodation, so they can live a normal life.
0:39:28 > 0:39:30OK, so that was my next question.
0:39:30 > 0:39:32Do you buy to rent or do you buy to sell mostly?
0:39:32 > 0:39:34- I do both.- OK.
0:39:34 > 0:39:39Sometimes I buy modern one, do one up, resell it,
0:39:39 > 0:39:43keep one for a business portfolio.
0:39:43 > 0:39:45So what did you do before you got into the property world?
0:39:45 > 0:39:48I did many different jobs.
0:39:48 > 0:39:51I was, first of all, a mechanic, if you like,
0:39:51 > 0:39:54and I worked for a car manufacturer.
0:39:55 > 0:40:01I trained in Italy and came to this country at a very tender age.
0:40:01 > 0:40:05And then I worked as a toolmaker
0:40:05 > 0:40:09in a company in Bromsborough.
0:40:09 > 0:40:12OK, so, what was it about property that you like?
0:40:12 > 0:40:17I had, at the same time, been buying properties
0:40:17 > 0:40:21and renovating even though I had a job.
0:40:21 > 0:40:24This was more like a hobby, but it gradually
0:40:24 > 0:40:28developed into a substantial business
0:40:28 > 0:40:30which is now taking all my time.
0:40:30 > 0:40:33What are you going to do, with all that knowledge you've got,
0:40:33 > 0:40:35to this place?
0:40:35 > 0:40:39I think the bathroom is one most important area
0:40:39 > 0:40:43where I think it needs to be totally redone.
0:40:43 > 0:40:47The kitchen is another area which also needs a
0:40:47 > 0:40:49considerable amount of work done.
0:40:49 > 0:40:55And possibly some work done in a small single bedroom.
0:40:56 > 0:41:00Then, generally, all it needs will be repainted,
0:41:00 > 0:41:05decorating and tidying up and new flooring.
0:41:05 > 0:41:11And that would be ready then for either renting or reselling.
0:41:11 > 0:41:14OK, so you've not made your mind up which way you want to go yet?
0:41:14 > 0:41:16At this moment in time, no.
0:41:16 > 0:41:20It may remain within the portfolio of the company or else it may
0:41:20 > 0:41:25be sold if something else comes along which is as attractive
0:41:25 > 0:41:27- or more attractive.- OK.
0:41:27 > 0:41:30So what is your budget for the work that you've just mentioned?
0:41:30 > 0:41:33I'm thinking about £10,000. No more.
0:41:33 > 0:41:35That's quite a healthy budget
0:41:35 > 0:41:38because there isn't an awful lot that needs doing.
0:41:38 > 0:41:42You'll need to do the work in a proper manner which is safe
0:41:42 > 0:41:45and which is quality.
0:41:45 > 0:41:51And to decorate as well. I think £10,000 is a good cover.
0:41:51 > 0:41:54Have you got people that work for you? Have you got builders?
0:41:54 > 0:41:59I usually use sub contractors and I meddle in between.
0:41:59 > 0:42:03- Oh, so you get involved yourself? - I'm hands on. Yes.
0:42:03 > 0:42:05So what do you do, Ben? What do you do?
0:42:05 > 0:42:09I may just do a bit of wiping of walls or a window or something
0:42:09 > 0:42:11but I do, do meddle.
0:42:11 > 0:42:14Is that because you can be on site and keep an eye on everybody?
0:42:14 > 0:42:17Exactly, yes, I see that the work is done and it's done right.
0:42:17 > 0:42:20OK, so you've got a £10,000 budget.
0:42:20 > 0:42:22How long is the work going to take?
0:42:22 > 0:42:26- Once they start, no longer than a month.- OK.
0:42:27 > 0:42:30So far, Ben gets top marks from me.
0:42:30 > 0:42:33I like the fact that he's got high standards as well.
0:42:33 > 0:42:35But even with his experience at buying at auction,
0:42:35 > 0:42:40Ben was caught out by a £7,000 sales fee that he missed,
0:42:40 > 0:42:43because he didn't read the legal pack.
0:42:43 > 0:42:45The reason the legal pack wasn't read,
0:42:45 > 0:42:48- it's because I didn't go to the auction to buy.- OK.
0:42:48 > 0:42:52I went as support for a friend,
0:42:52 > 0:42:55and ended up buying, whilst he didn't.
0:42:55 > 0:42:58- It was an instinct thing then, was it?- Yes, exactly.
0:42:58 > 0:43:02The instinct told me this is a good property. Take it.
0:43:02 > 0:43:06Well, listen, you've covered everything. I think you'll do well.
0:43:06 > 0:43:10Yes, when I went to the auction and I read about it on the details,
0:43:10 > 0:43:14that pretty well told me that it was a good buy.
0:43:14 > 0:43:17The only unfortunate part, I did not see those...
0:43:17 > 0:43:20- The legal pack, exactly. - The little hidden costs.
0:43:20 > 0:43:24- I should tell you off for that now. - Exactly. I allow you that.
0:43:24 > 0:43:28And I honestly feel a little...
0:43:29 > 0:43:31Embarrassed.
0:43:31 > 0:43:33- ..embarrassed about it. - No need to be, sir.
0:43:33 > 0:43:35You're the professional, you know what you're doing.
0:43:35 > 0:43:38- Well, I hope so, thank you very much.- Good luck.
0:43:38 > 0:43:40- Wish you all the best.- Thank you.
0:43:40 > 0:43:43What a lovely man Ben is and he's got loads of experience.
0:43:43 > 0:43:45He has given himself a ten grand budget.
0:43:45 > 0:43:49I think he'll get it done no problem and within that four-week timescale.
0:43:49 > 0:43:52But you can find out how he gets on later in the programme.
0:43:55 > 0:43:58So now we've seen what happened to one of those properties.
0:43:58 > 0:43:59What about the other two?
0:43:59 > 0:44:02Yeah, did they stick to their plans or did it all go wrong?
0:44:02 > 0:44:03Let's go back and find out.
0:44:07 > 0:44:09It was in Sydenham, south-east London
0:44:09 > 0:44:13where we first came across a one-bed ground-floor flat.
0:44:13 > 0:44:16But although it was in one of the best streets in the area,
0:44:16 > 0:44:18the flat itself was, at that stage,
0:44:18 > 0:44:21a less than desirable place to live.
0:44:22 > 0:44:25With a muddley layout and signs of damp,
0:44:25 > 0:44:27it really needed some love and care.
0:44:29 > 0:44:31Step forward Andy and Laura,
0:44:31 > 0:44:36who bought the flat at auction for £301,000.
0:44:36 > 0:44:40Now, Andy is a design engineer while Laura is an office manager
0:44:40 > 0:44:42and photographer.
0:44:42 > 0:44:45And they both had a great incentive to get the
0:44:45 > 0:44:48renovation work done ASAP.
0:44:48 > 0:44:50We've got a baby on the way
0:44:50 > 0:44:54so we were pretty keen to buy somewhere before the new arrival.
0:44:54 > 0:44:58- So you've bought this for investment purposes?- Yes, yes.
0:44:58 > 0:45:02Yeah. Well, we were kind of thinking we might move in to it but...
0:45:02 > 0:45:04- Yeah, we'll see how it goes. - We'll keep our options open as well.
0:45:04 > 0:45:07So you're going to see how well it turns out as to whether or not
0:45:07 > 0:45:09you do decide to move in.
0:45:09 > 0:45:11# Cos I will wait
0:45:11 > 0:45:14# I will wait for you
0:45:17 > 0:45:18# And I will wait
0:45:18 > 0:45:22# I will wait for you... #
0:45:22 > 0:45:26With no firm decision, their budget was equally undetermined.
0:45:26 > 0:45:30£7,000 if they go for a refurbishment and 20 to 30
0:45:30 > 0:45:32if they turn one bedroom into two.
0:45:32 > 0:45:34Andy was going to project manage,
0:45:34 > 0:45:38but it looked like we would have to wait on a final decision.
0:45:38 > 0:45:40# And I will wait
0:45:40 > 0:45:42# I will wait for you... #
0:45:48 > 0:45:50And now, seven months later,
0:45:50 > 0:45:53we're back to see how everything has worked out for them.
0:45:58 > 0:46:00Externally, not much has changed,
0:46:00 > 0:46:03but this was a leasehold flat, so that's hardly surprising.
0:46:03 > 0:46:07But inside, they've been able to really make their mark.
0:46:15 > 0:46:17By removing the corridor wall,
0:46:17 > 0:46:21they've managed to turn the lounge into a super kitchen-diner.
0:46:25 > 0:46:27And with the kitchen moved,
0:46:27 > 0:46:31they've created that all-important second bedroom in the flat.
0:46:42 > 0:46:44Well, it's all looking good so far.
0:46:44 > 0:46:48But what about the most important addition?
0:46:48 > 0:46:51Baby Harry came along in November
0:46:51 > 0:46:54which was a delight for both of us.
0:46:54 > 0:46:59Andy took a month off work to be with us
0:46:59 > 0:47:03and then from then, he's really been working really hard on the flat.
0:47:03 > 0:47:06And that hard work seems to be paying off.
0:47:06 > 0:47:09Certainly judging by the finish with the bathroom
0:47:09 > 0:47:12which has been completely transformed.
0:47:17 > 0:47:20So this place is almost ready to move into.
0:47:20 > 0:47:23But is it going to be a new baby in a new home?
0:47:25 > 0:47:27Well, we've decided to move in, actually, yeah.
0:47:27 > 0:47:29It makes more sense for us
0:47:29 > 0:47:31to rent the place that we're living in at the moment and, yeah,
0:47:31 > 0:47:35move in here and it will be great to have the little garden at the back.
0:47:35 > 0:47:36Where we are at the moment,
0:47:36 > 0:47:39we don't have a garden so that's a real treat to have that,
0:47:39 > 0:47:42nice and tidy for us and for Harry to play in in the summer.
0:47:42 > 0:47:47Well, that's great news and I can see why they want to move in here.
0:47:47 > 0:47:49They've done a fabulous job so far,
0:47:49 > 0:47:52and although the garden still needs some tidying up, and they
0:47:52 > 0:47:56haven't completely resolved the damp issues, and the cellar is, well,
0:47:56 > 0:47:58still a cellar, these are issues that
0:47:58 > 0:48:01they can sort out in their own time.
0:48:01 > 0:48:03# What makes a flower grow... #
0:48:03 > 0:48:07Andy was here pretty much most of the time.
0:48:07 > 0:48:10Every weekend and most evenings after work,
0:48:10 > 0:48:14I really pretty much just offered my opinion when it was needed
0:48:14 > 0:48:18and helped do a little bit of cleaning.
0:48:18 > 0:48:20And that was probably about it, really.
0:48:20 > 0:48:22Otherwise, I was just looking after Harry.
0:48:22 > 0:48:26# Too busy thinking about my baby
0:48:26 > 0:48:29# I ain't got time for nothing else... #
0:48:31 > 0:48:34Yes, I can see Laura had her hands full.
0:48:34 > 0:48:37And in addition to the arrival of baby Harry,
0:48:37 > 0:48:40negotiations with the freeholder delayed things
0:48:40 > 0:48:42and pushed their timescales back.
0:48:42 > 0:48:45But how much did all the work cost in the end?
0:48:47 > 0:48:49It ended up being about 14,000.
0:48:49 > 0:48:53So I think, originally, I was thinking a bit grander.
0:48:53 > 0:48:55Grander plans such as building out into the side,
0:48:55 > 0:48:59so that's why it's been a lot cheaper.
0:49:00 > 0:49:03So £14,000 spent on top of their
0:49:03 > 0:49:06£301,000 purchase price
0:49:06 > 0:49:10takes Andy and Laura's total spend to £315,000.
0:49:11 > 0:49:16I think they've got themselves a really good flat for that.
0:49:16 > 0:49:18But what do two local estate agents think?
0:49:19 > 0:49:22Well, having just seen the property for the first time,
0:49:22 > 0:49:23I must say, I do like it very much.
0:49:23 > 0:49:25They've fitted the kitchens very well
0:49:25 > 0:49:28and the bathroom looks very, very nice, very contemporary.
0:49:28 > 0:49:31They've used some nice materials, like oak-wood work surfaces
0:49:31 > 0:49:33and nice tiles. They've done a good job.
0:49:33 > 0:49:36There's been an amazing change inside. Complete renovation.
0:49:36 > 0:49:39Really letting in some good light into the property.
0:49:39 > 0:49:42Nice and airy space and a beautiful landscape garden as well.
0:49:42 > 0:49:44The standard of finish is exceptional.
0:49:44 > 0:49:46I see a lot of properties with a standard of finish
0:49:46 > 0:49:48and it's not so much the materials they use,
0:49:48 > 0:49:50it's the little bits, when you look at the finer bits where
0:49:50 > 0:49:53they've sealed things and they've grouted and stuff like that,
0:49:53 > 0:49:55where you see how badly they've done it.
0:49:55 > 0:49:58Here they've done that all very clean and very neat and very tidy.
0:49:59 > 0:50:02Yes, a professional standard to the finish makes all
0:50:02 > 0:50:04the difference and, of course, Andy, Laura,
0:50:04 > 0:50:08and baby Harry will be living in it for a while.
0:50:08 > 0:50:12But how much could they make from their £315,000 investment
0:50:12 > 0:50:15if they changed their minds and sold on?
0:50:15 > 0:50:18Looking at the property in the current sales market,
0:50:18 > 0:50:21I believe the property will achieve around the £450,000 mark.
0:50:21 > 0:50:25In the sales market, this property would go on the market anywhere
0:50:25 > 0:50:27between £425,000 and £450,000.
0:50:27 > 0:50:32- Gosh.- Yeah. I'm surprised by that. - That's good, very good.
0:50:32 > 0:50:34Gosh indeed.
0:50:34 > 0:50:37Those values could see a healthy pre-tax profit
0:50:37 > 0:50:40of between 110,000 to 135,000.
0:50:40 > 0:50:44That's not a bad potential return on your first family home.
0:50:45 > 0:50:50The agents also reckoned rental values between 1,400 to 1,500
0:50:50 > 0:50:53per calendar month should be possible,
0:50:53 > 0:50:56which would generate a yield of over 5%.
0:50:56 > 0:51:00Well, it certainly has been a big few months for the couple.
0:51:00 > 0:51:02So what's next?
0:51:04 > 0:51:07- Have a holiday and spend a bit of time together.- Yeah.
0:51:07 > 0:51:10Yeah, more family time, we've been promised.
0:51:10 > 0:51:11So, looking forward to that.
0:51:17 > 0:51:20It was in the West Midlands and the West Brom area,
0:51:20 > 0:51:24a familiar stomping ground for me, where I first saw this
0:51:24 > 0:51:28three-bed semi that showed lots of promise but needed a makeover
0:51:28 > 0:51:29and a bit of a tidy up.
0:51:30 > 0:51:35It was bought at auction by Benito for £93,000.
0:51:35 > 0:51:38Since retiring from work as a car mechanic and toolmaker,
0:51:38 > 0:51:41it's houses that he's been fixing up.
0:51:41 > 0:51:44And there was just something about this house that appealed to the
0:51:44 > 0:51:46property developer in him.
0:51:48 > 0:51:51- I didn't go to the auction to buy.- OK.
0:51:51 > 0:51:54I went as support for a friend,
0:51:54 > 0:51:57and ended up buying, whilst he didn't.
0:51:57 > 0:52:00- It was an instinct thing then, was it?- Yes, exactly.
0:52:00 > 0:52:04The instinct told me this is a good property. Take it.
0:52:04 > 0:52:05# Cos there's a
0:52:05 > 0:52:07# Feeling I got
0:52:07 > 0:52:09# Love you a lot... #
0:52:09 > 0:52:11His instinct also told him
0:52:11 > 0:52:13that it needed about ten grands' worth of work.
0:52:13 > 0:52:16And just one month to turn it around and get it
0:52:16 > 0:52:19back either on the resale or rental market.
0:52:19 > 0:52:22Nearly four months later, and we're back to find out
0:52:22 > 0:52:25if his feelings were right about this house.
0:52:27 > 0:52:30At the front, the wall's been removed
0:52:30 > 0:52:33and off-street parking has been created.
0:52:33 > 0:52:37With parking restrictions in the road, that's definitely a good idea.
0:52:38 > 0:52:40What about inside?
0:52:43 > 0:52:47Well, that front lounge is smarter, with new decor and carpets...
0:52:50 > 0:52:55..while the open-plan kitchen-diner has been given the Benito treatment.
0:52:56 > 0:53:01The kitchen has been totally renovated, as you can see.
0:53:01 > 0:53:06That is all new lights, a breakfast bar. It's nice, spacious,
0:53:06 > 0:53:09and it's not crammed in any way.
0:53:09 > 0:53:13However, here we've still got a good dining area
0:53:13 > 0:53:16and I think this makes a lovely place.
0:53:19 > 0:53:22I liked this room before, but Benito has definitely given it
0:53:22 > 0:53:25an extra lift and brought it more up-to-date.
0:53:25 > 0:53:27And what about the rooms upstairs?
0:53:33 > 0:53:36All three bedrooms are clean and ready to go.
0:53:39 > 0:53:40While the bathroom, well,
0:53:40 > 0:53:42that's had a full refurbishment
0:53:42 > 0:53:46with new suite, tiling, carpeting, the lot.
0:53:46 > 0:53:49It's all looking great, I must say.
0:53:49 > 0:53:51But why has it taken four months instead of one?
0:53:53 > 0:53:56Yeah, I had a company take over the contract.
0:53:57 > 0:54:04But, unfortunately, their finished work was not really very, very good.
0:54:04 > 0:54:08So I have spent the last three weeks going over what
0:54:08 > 0:54:10they had actually done for me.
0:54:11 > 0:54:14Yes, Benito ended up repainting walls,
0:54:14 > 0:54:17repositioning the toilet, tidying up trim edges,
0:54:17 > 0:54:19relevelling the driveway and
0:54:19 > 0:54:22generally carrying out whatever was on that snagging list.
0:54:22 > 0:54:24# I've got to do it myself
0:54:24 > 0:54:26# Don't want to die a man alone
0:54:26 > 0:54:28# I don't need any kind of help
0:54:28 > 0:54:31# Life's too short to waste it No-no-no, no-no-no... #
0:54:31 > 0:54:34And if that wasn't enough, he also tackled the garden.
0:54:34 > 0:54:38And I looked at the garden and decided first and foremost
0:54:38 > 0:54:41that it needed rotavating, digging out and sorting out.
0:54:41 > 0:54:47That there was years of neglect and rubbish buried in it.
0:54:47 > 0:54:49In doing the paving in the front,
0:54:49 > 0:54:54there were some leftover slabs and some pavers which I utilised
0:54:54 > 0:55:01in making a patio in the back of the house or a barbecue place.
0:55:02 > 0:55:05So a little bit of clever recycling has created
0:55:05 > 0:55:07a practical patio space.
0:55:07 > 0:55:11Surely that has helped him keep control of that ten grand budget.
0:55:11 > 0:55:17I think I've gone over the top by, possibly, about £800 or £900.
0:55:17 > 0:55:18That's about it.
0:55:19 > 0:55:22Ben bought this house for £93,000,
0:55:22 > 0:55:26but he did get caught out with an unexpected cost in the form
0:55:26 > 0:55:31of sellers' fees which brought his entire purchase cost to £100,000.
0:55:31 > 0:55:35Add on his £10,800 renovation costs,
0:55:35 > 0:55:39and it's a total spend of £110,800.
0:55:39 > 0:55:41So was this an inspired purchase?
0:55:41 > 0:55:44What did two local estate agents think?
0:55:44 > 0:55:46I think the standard of finish
0:55:46 > 0:55:47is very good.
0:55:47 > 0:55:50It's been done to a very high standard throughout.
0:55:50 > 0:55:52You know, very nice kitchen, very nice bathroom and they're the
0:55:52 > 0:55:56two most expensive rooms for anyone to renovate when they buy a home.
0:55:56 > 0:55:58It's a nice family home.
0:55:58 > 0:56:00It's been well done up to a nice
0:56:00 > 0:56:03standard, it's got three bedrooms,
0:56:03 > 0:56:05nice accommodation downstairs,
0:56:05 > 0:56:08lovely big kitchen with a dining area.
0:56:08 > 0:56:10And a nice garden at the back
0:56:10 > 0:56:13which would suit, ideally, for family living.
0:56:13 > 0:56:16I think the decision to add a driveway is a really sensible one,
0:56:16 > 0:56:17especially with the location.
0:56:17 > 0:56:20Obviously, it's quite close to a school so that can mean that
0:56:20 > 0:56:22parking on the road might be a little difficult.
0:56:22 > 0:56:24But with what the owner of the property has done,
0:56:24 > 0:56:27it's created space for at least two vehicles on the front
0:56:27 > 0:56:29which I think is a really good idea.
0:56:29 > 0:56:33Ben hasn't made up his mind whether to rent or sell.
0:56:33 > 0:56:34Maybe the figures will help.
0:56:34 > 0:56:38If the property is put up for sale, then I would envisage it
0:56:38 > 0:56:40achieving a figure somewhere between
0:56:40 > 0:56:43£115,000 and £120,000.
0:56:43 > 0:56:46However, if the current owner decides to rent it out,
0:56:46 > 0:56:49then I would imagine that the figure would be somewhere
0:56:49 > 0:56:55between £575 and £600 per calendar month.
0:56:55 > 0:56:57I think on the resale market
0:56:57 > 0:57:01you'd be looking at somewhere between £120,000 and £125,000.
0:57:01 > 0:57:03On the rental market, you'd be looking at,
0:57:03 > 0:57:06per calendar month, somewhere between £600 and £625.
0:57:08 > 0:57:12That's a possible rental yield of around the 7% mark or
0:57:12 > 0:57:17a pre-tax profit of between £4,200 and £14,200.
0:57:17 > 0:57:19So, rent or sell, what's it to be?
0:57:21 > 0:57:24I think 130 would have swayed my decision.
0:57:24 > 0:57:29120, 125, maybe not.
0:57:29 > 0:57:32It might be added to my portfolio.
0:57:32 > 0:57:35Well, it seems that this is destined to be another one to add
0:57:35 > 0:57:37to his growing property collection.
0:57:37 > 0:57:40So has he now collected enough properties that he can retire?
0:57:40 > 0:57:45No, I'm only 77, I don't think I shall retire for a while yet.
0:57:45 > 0:57:47# Young at heart
0:57:47 > 0:57:50# You're so young at heart
0:57:50 > 0:57:53# You're so young at heart... #
0:57:59 > 0:58:02Well, the auction stories don't stop there.
0:58:02 > 0:58:04Yeah, we've got plenty more up our sleeves
0:58:04 > 0:58:06so make sure you join us next time.
0:58:06 > 0:58:09Yeah, so see you then, for more Homes Under The Hammer.
0:58:09 > 0:58:10- ALL:- Goodbye.