0:00:02 > 0:00:03Hello and welcome to the show.
0:00:03 > 0:00:07Now, sometimes buying property can be a bit of an intimidating process.
0:00:07 > 0:00:09Yeah, it can be slow and difficult,
0:00:09 > 0:00:11but if you want the keys to your property quickly,
0:00:11 > 0:00:14- there is something you can try. - Oh, yes, Dion, that's right.
0:00:14 > 0:00:16You can own your property in just 28 days
0:00:16 > 0:00:18if you buy your home under the hammer.
0:00:44 > 0:00:47These gardens must take such a lot of hard work,
0:00:47 > 0:00:48but it's so worth it, isn't it?
0:00:48 > 0:00:50Yeah, they are, they're fantastic,
0:00:50 > 0:00:53but, as you know, property can be creative and rewarding,
0:00:53 > 0:00:54just like gardening.
0:00:54 > 0:00:57- Are you a bit of a gardener? - I am indeed and you know what?
0:00:57 > 0:00:59I'm a property person, too, and maybe the properties
0:00:59 > 0:01:02on today's show inspired THEIR new owners.
0:01:04 > 0:01:08In East Sussex, why, oh, why are things just never straightforward?
0:01:08 > 0:01:12Potentially, this could get very complicated.
0:01:14 > 0:01:15Whereas in Kent,
0:01:15 > 0:01:19is it WORTH making this renovation a bit more complicated?
0:01:19 > 0:01:22On the face of it, I would say...yeah, I think it probably is.
0:01:24 > 0:01:26But in Derbyshire,
0:01:26 > 0:01:29I feel now I'm really getting into the swing of things.
0:01:29 > 0:01:34You can clearly see that it's not good.
0:01:34 > 0:01:36All these properties have been sold at auction.
0:01:36 > 0:01:40We'll find out who bought them and what they paid for them
0:01:40 > 0:01:42when they went under the hammer.
0:01:42 > 0:01:43Yours, madam. Thank you.
0:01:46 > 0:01:49You might have guessed by its name, but Bexhill-on-Sea
0:01:49 > 0:01:52is a popular seaside town in East Sussex.
0:01:52 > 0:01:54It's quite a relaxing place to be
0:01:54 > 0:01:59and a 2009 survey claimed it enjoyed an extra four hours of sunshine
0:01:59 > 0:02:03per week from the average seaside town in the UK.
0:02:03 > 0:02:05Well, I've travelled a few miles from Bexhill
0:02:05 > 0:02:07to a little village called Little Common,
0:02:07 > 0:02:11which has its own small high street and local amenities.
0:02:11 > 0:02:14This residential road looks like any ordinary small-town street,
0:02:14 > 0:02:17but all isn't quite what it seems.
0:02:17 > 0:02:20- # It's just an illusion - Could it be that...? #
0:02:20 > 0:02:24Now, I say residential road, so you might assume I'm here to see
0:02:24 > 0:02:28one of these - a bungalow - or a house along here.
0:02:28 > 0:02:31Well, yes, I am, but with a difference.
0:02:31 > 0:02:33The property I'm here to see had a guide price
0:02:33 > 0:02:39of 150,000 to £190,000 and it's this.
0:02:39 > 0:02:43Looks like an unassuming bungalow with a garage on the side,
0:02:43 > 0:02:46but, in actual fact, it's a former dentist surgery
0:02:46 > 0:02:48with D1 business classing.
0:02:48 > 0:02:50Surprise!
0:02:50 > 0:02:54- # It's just an illusion - Oo-oo-oo-oo-ah
0:02:54 > 0:02:59- # Illusion - Oo-oo-oo-oo-ah
0:02:59 > 0:03:01# Illusion... #
0:03:01 > 0:03:04So, behind the ordinary-looking bungalow frontage
0:03:04 > 0:03:05is a business premises.
0:03:05 > 0:03:08Clearly, this was originally a residential property,
0:03:08 > 0:03:12so it'll be interesting to find out what's going on inside.
0:03:14 > 0:03:17Well, this is a jolly long yellow corridor.
0:03:17 > 0:03:19And a little quirk for you -
0:03:19 > 0:03:21exterior garage door, but look -
0:03:21 > 0:03:23this room has already been converted.
0:03:23 > 0:03:26I think I'd like to get permission to actually put
0:03:26 > 0:03:30a window in there to make it a big, lovely, sunny, solid room.
0:03:30 > 0:03:31Now, something that does concern me -
0:03:31 > 0:03:35there's water all along here and this wall is really damp.
0:03:35 > 0:03:39It's wet. Has one of the radiators been leaking? I'm not sure.
0:03:39 > 0:03:41You can tell it was a commercial property.
0:03:41 > 0:03:44You've got strip lighting, signage everywhere.
0:03:44 > 0:03:45That would have been a loo.
0:03:45 > 0:03:47That's not a bad size reception room.
0:03:47 > 0:03:50And in here, aha!
0:03:50 > 0:03:53Look, she's got a nice pair of teeth.
0:03:53 > 0:03:57You can tell this was obviously the waiting room. A nice space.
0:03:57 > 0:03:59You've got loads of sun coming in,
0:03:59 > 0:04:02because an additional little conservatory has been added on.
0:04:02 > 0:04:04Central heating's already in place.
0:04:04 > 0:04:08Over here, look, you can see this would have been the reception area.
0:04:08 > 0:04:11So, not bad at all. Good spaces.
0:04:11 > 0:04:13You know, normally I get really nervous going to the dentist,
0:04:13 > 0:04:15but I feel all right today.
0:04:15 > 0:04:19Ha-ha, yes, I'm actually all smiles about this place.
0:04:19 > 0:04:22Apart from getting a change of use back to residential,
0:04:22 > 0:04:24there is nothing here that frightens me.
0:04:24 > 0:04:27Yes, the business signs all need extracting
0:04:27 > 0:04:30and the flooring could do with some filling in.
0:04:30 > 0:04:33There's also more than a bit of spit and polish needed throughout,
0:04:33 > 0:04:36but, from what I can see so far,
0:04:36 > 0:04:39I think this is a tasty-looking refurbishment project
0:04:39 > 0:04:41and could be well worth investing in.
0:04:41 > 0:04:44# Put your money where your mouth is... #
0:04:46 > 0:04:49Now, when I view commercial properties,
0:04:49 > 0:04:53I will usually pre-warn you that conversion to residential
0:04:53 > 0:04:54is not guaranteed.
0:04:54 > 0:04:58It's all dependent on getting that all-important planning permission
0:04:58 > 0:05:00from the local authority.
0:05:00 > 0:05:02However, on this occasion,
0:05:02 > 0:05:05well, I really don't think it'll be too much of a problem.
0:05:05 > 0:05:08This is a residential area and this bungalow
0:05:08 > 0:05:10was formally someone's home.
0:05:10 > 0:05:13For me, well, it should be a home once again.
0:05:13 > 0:05:16I think it would make the most sense here.
0:05:16 > 0:05:20With the change of use sorted, it should all be very straightforward.
0:05:20 > 0:05:21Heh - no, of course not!
0:05:22 > 0:05:26Now, this portion of land at the front here wasn't actually
0:05:26 > 0:05:29sold with the bungalow at auction.
0:05:29 > 0:05:31It's owned by somebody else.
0:05:31 > 0:05:33A bit bizarre that, isn't it?
0:05:33 > 0:05:37Yes, I know, and I'm sure this grey area would have put some
0:05:37 > 0:05:39potential buyers off on auction day.
0:05:39 > 0:05:41So, what are your options here?
0:05:41 > 0:05:46Well, the best way to resolve this would be to contact the landowner,
0:05:46 > 0:05:49negotiate a price and then buy it off them.
0:05:49 > 0:05:52However, that could be easier said than done.
0:05:52 > 0:05:55Firstly, you'd need to find the contact details of the owner
0:05:55 > 0:05:58and, once that's done, they'll need to be willing to negotiate
0:05:58 > 0:06:01a fair price and sell it to you.
0:06:01 > 0:06:04Potentially, this could get very complicated.
0:06:04 > 0:06:05# How bizarre
0:06:07 > 0:06:09# How bizarre, how bizarre... #
0:06:09 > 0:06:11Mm, yes, it is a little confusing.
0:06:11 > 0:06:14Why sell off a property without selling off some of the garden,
0:06:14 > 0:06:17particularly when the triangle of land itself
0:06:17 > 0:06:19isn't big enough to build on?
0:06:19 > 0:06:22The good news, though, is the new owner of the bungalow does
0:06:22 > 0:06:25have right of access across the land and if the driveway
0:06:25 > 0:06:28could be moved across to the far left corner, this odd triangle
0:06:28 > 0:06:31of land wouldn't actually be significant.
0:06:31 > 0:06:36It's an oddity and undoubtedly will scare some potential buyers off.
0:06:36 > 0:06:39# How bizarre, how bizarre... #
0:06:39 > 0:06:42But what can a local estate agent tell us about the area
0:06:42 > 0:06:46and his thoughts about this slightly unusual lot?
0:06:46 > 0:06:47Best option for this property
0:06:47 > 0:06:49would be to turn back to residential.
0:06:49 > 0:06:51In my opinion, I don't think there is a market
0:06:51 > 0:06:53for commercial in this area.
0:06:53 > 0:06:55Yes, but that Bermuda Triangle of land?
0:06:55 > 0:06:58How much of an issue might that be?
0:06:58 > 0:07:01Not owning that little bit of land at the front could affect the
0:07:01 > 0:07:04saleability slightly, but I think the best thing, in my opinion,
0:07:04 > 0:07:08would be...is to just create some sort of flowerbed and have it
0:07:08 > 0:07:10so it's not a usable piece of land.
0:07:10 > 0:07:12Move the driveway slightly
0:07:12 > 0:07:15and then I don't think it would cause too many problems.
0:07:15 > 0:07:17OK, so, from shapes to figures,
0:07:17 > 0:07:21what might this lot, that was guided at 150 to 190,000,
0:07:21 > 0:07:25be worth as a three-bed residential property?
0:07:25 > 0:07:27I would estimate the property to be worth in the region
0:07:27 > 0:07:30of £350,000 once it is fully renovated.
0:07:31 > 0:07:32And rental?
0:07:33 > 0:07:36I would estimate the rental value, once renovated,
0:07:36 > 0:07:38to be in the region of £1,000 per calendar month.
0:07:42 > 0:07:45This is a really good property and, well, I think it's in
0:07:45 > 0:07:48a decent street and I don't think it's going to take too much work
0:07:48 > 0:07:51to turn this into a lovely home.
0:07:51 > 0:07:54So, who had the wisdom to take it on?
0:07:54 > 0:07:56Let's find out when it went under the hammer.
0:07:59 > 0:08:01Lot 27.
0:08:01 > 0:08:06Freehold detached former dental surgery here, ladies and gentlemen.
0:08:06 > 0:08:09Potential for change of use subject to obtaining all necessary consent.
0:08:09 > 0:08:12Dental surgery, ladies and gentlemen. Start me at 230.
0:08:14 > 0:08:17190. I'll start on the proxy here, ladies and gentlemen. 190,000.
0:08:17 > 0:08:18Who'll give me five?
0:08:18 > 0:08:20Yep, 95 at the back. 200, may I say?
0:08:20 > 0:08:23That'll be the proxy. 200? Thank you.
0:08:23 > 0:08:24200. 205, madam?
0:08:26 > 0:08:27205, thank you.
0:08:27 > 0:08:30210? 210? 15?
0:08:30 > 0:08:3115 and 20?
0:08:32 > 0:08:3520? 25? 230?
0:08:36 > 0:08:39230, thank you. 230.
0:08:39 > 0:08:42235? 235? 240?
0:08:44 > 0:08:46240? And five with the lady. Thank you. 245.
0:08:46 > 0:08:4950? What about two and a half?
0:08:49 > 0:08:52Come on. No, I'll take 246, go on.
0:08:52 > 0:08:54Madam, 247?
0:08:54 > 0:08:56247. 248? No, thought not.
0:08:56 > 0:08:58247 with you.
0:08:58 > 0:09:00I'm pretty sure it's yours now for the first, second,
0:09:00 > 0:09:02third and final time.
0:09:02 > 0:09:04At 247 with the lady.
0:09:04 > 0:09:06Sold to you, madam. Thank you.
0:09:08 > 0:09:11And after a fair amount of toing and froing,
0:09:11 > 0:09:14the hammer fell at 247,000
0:09:14 > 0:09:18and the successful bidder for the Bexhill bungalow was Vanessa.
0:09:18 > 0:09:21Vanessa, along with her three children,
0:09:21 > 0:09:23own and run a property developing company.
0:09:23 > 0:09:26She and her partner Paul joined me back at the bungalow and it
0:09:26 > 0:09:29was time for me to drill down on their plans.
0:09:31 > 0:09:34- Vanessa and Paul, congratulations. - Thank you.- Thank you.
0:09:34 > 0:09:37So, here we are in the dentist! A bit scary, isn't it?
0:09:37 > 0:09:38VANESSA CHUCKLES
0:09:38 > 0:09:41So, tell me the story. Why did you want to buy this?
0:09:41 > 0:09:43Got a few property rentals in Bexhill. I just really...
0:09:43 > 0:09:45I really love this area.
0:09:45 > 0:09:48I thought it would be a really good rental or for sale, so yeah,
0:09:48 > 0:09:51- sort of took the plunge. - And this is kind of what you do,
0:09:51 > 0:09:53you do buy and sell properties anyway, don't you?
0:09:53 > 0:09:55Yeah. After my divorce, I've got three children,
0:09:55 > 0:09:58and I just sort of formed a property development company and we just...
0:09:58 > 0:10:01this is our 13th house we've renovated.
0:10:01 > 0:10:05- In how long? 13 in how many years? - Three years.- Wow!
0:10:05 > 0:10:07- It's been quite quick. - That is amazing!
0:10:07 > 0:10:10So, how have you managed to plough your way through them?
0:10:10 > 0:10:12Have you, like, bought them and sold them all on?
0:10:12 > 0:10:16No, I've got five that rent and then the rest I've bought and sold,
0:10:16 > 0:10:19so, yeah, I've still got another couple that I'm just selling now.
0:10:19 > 0:10:21One I'm finishing, one's up for sale.
0:10:21 > 0:10:24And how involved do your children actually get?
0:10:24 > 0:10:26- Erm, quite a lot in the beginning.- Yep.
0:10:26 > 0:10:30They like stripping out and my daughter loves painting,
0:10:30 > 0:10:32so she's the painter.
0:10:32 > 0:10:36We just, like, plod on, really. When I get stuck, I ask Paul.
0:10:36 > 0:10:38So Paul, what's your involvement? Come on, tell me.
0:10:38 > 0:10:42- Just the electrician and lending a hand.- "Just!"- "Just!"
0:10:42 > 0:10:44- Super-handy for you, Vanessa.- Very!
0:10:45 > 0:10:47'Yes, having Paul's electrical skills,
0:10:47 > 0:10:51'daughter Rebecca's painting skills and getting help from her two
0:10:51 > 0:10:54'other kids has clearly paid dividends so far for Vanessa,
0:10:54 > 0:10:58'with those 13 properties tackled by the family firm.
0:10:58 > 0:11:02'But this bungalow does pose a few more challenges than your
0:11:02 > 0:11:04'conventional property purchase.'
0:11:05 > 0:11:07- Now, it's obviously got D1 usage at the moment.- Yeah.
0:11:07 > 0:11:09Do you think there's going to be any problems
0:11:09 > 0:11:11switching it over to residential?
0:11:11 > 0:11:14Well, I'm hoping not, cos it was residential before.
0:11:14 > 0:11:16It was a two-bed bungalow, so it's going to be
0:11:16 > 0:11:18a three-bed bungalow, cos they got the garage converted,
0:11:18 > 0:11:20so that's the first thing, change of use.
0:11:20 > 0:11:22So, how much research did you both do with this?
0:11:22 > 0:11:25- Did you read the legal pack? Did you view the property first?- Absolutely.
0:11:25 > 0:11:27We did it all. Did it all, yes.
0:11:27 > 0:11:30I know that that piece of land isn't mine at the front.
0:11:30 > 0:11:34So, what difficulty is that going to bring to this property?
0:11:34 > 0:11:37Well, I'm going to try and get hold of the owner and see if they
0:11:37 > 0:11:39will sell that little triangle.
0:11:39 > 0:11:43Meanwhile, I will ask the council to perhaps lower the kerb
0:11:43 > 0:11:46so I can come in on the other separate piece and then it
0:11:46 > 0:11:48doesn't really matter, to be honest.
0:11:48 > 0:11:51'Now, that's certainly the benefit of doing your homework.
0:11:51 > 0:11:54'Vanessa is a thorough lady, so I'm guessing she's planned how
0:11:54 > 0:11:57'she will turn this back into a home.'
0:11:59 > 0:12:03Replaster everywhere, new floors, new kitchen, new bathroom,
0:12:03 > 0:12:06obviously the garage door's going. New window there.
0:12:06 > 0:12:08Just the works, basically.
0:12:08 > 0:12:10So, come on, how much are you going to spend?
0:12:10 > 0:12:12It all depends on the driveway, and there has been
0:12:12 > 0:12:14a leaky roof in the conservatory,
0:12:14 > 0:12:16but I reckon probably about 25.
0:12:16 > 0:12:19So, how long do you think this is going to take you, this project?
0:12:19 > 0:12:23- It's got to be at least eight months.- Really? So it's not quick?
0:12:23 > 0:12:25It's not quick, no.
0:12:25 > 0:12:28It does take time, cos we do a lot of the work ourselves and
0:12:28 > 0:12:31really get our hands dirty, so, no - about eight months.
0:12:31 > 0:12:33So, when you say you do the work yourself,
0:12:33 > 0:12:35- is this for you, now, your job?- Yes.
0:12:35 > 0:12:38You wake up, you're on site, you're here with the builders every day?
0:12:38 > 0:12:43- Yeah.- Yeah.- Well, not builders. It's me.- We are!
0:12:43 > 0:12:46- So, who will be fitting the kitchen and fitting the bathroom?- I will.
0:12:46 > 0:12:48- So you'll be doing all of that?- Yeah.- We will.
0:12:48 > 0:12:51- And do you save so much money by doing it yourselves?- Yes.
0:12:51 > 0:12:54Even though it takes you so much longer than getting a team in,
0:12:54 > 0:12:56- I'm sure?- Yeah, that is... - You've got to weigh that up.
0:12:56 > 0:12:58Yes, I know, and that might be something I change,
0:12:58 > 0:13:00but I started small. I'm building up.
0:13:00 > 0:13:03And you're doing really, really well by the sounds of things.
0:13:03 > 0:13:04Yeah, it's doing well.
0:13:04 > 0:13:07I'm really pleased and I cannot wait to see what you do here.
0:13:07 > 0:13:10- Eight months.- Yeah.- Yeah. - We'll be back.- At least!
0:13:10 > 0:13:12- LAUGHTER - Well done, guys.
0:13:12 > 0:13:15- It's a really good buy. - Thank you.- Thank you.
0:13:15 > 0:13:17So, in three years, Vanessa has gained
0:13:17 > 0:13:19plenty of renovation experience
0:13:19 > 0:13:22and she's got the help of Paul and her family ready
0:13:22 > 0:13:25and raring to go with this latest project.
0:13:25 > 0:13:28I just hope she gets permission to drop that kerb
0:13:28 > 0:13:30and it isn't like pulling teeth.
0:13:30 > 0:13:34Join me later in the programme and you can find out how she gets on.
0:13:37 > 0:13:41Time now for a Canterbury Tale and there are many of those in
0:13:41 > 0:13:44this historic Kent city, with its famous cathedral being
0:13:44 > 0:13:48a place of pilgrimage since Medieval times.
0:13:48 > 0:13:52But, today, my path leads me just out of the city centre.
0:13:52 > 0:13:56Well, this particular road isn't exactly steeped in history and
0:13:56 > 0:13:59there's certainly no getting away from the fact that you are
0:13:59 > 0:14:03very close to an educational establishment,
0:14:03 > 0:14:05but the property I'm here to see sounds promising.
0:14:05 > 0:14:10190 to £200,000 for this, a three-bedroom semidetached.
0:14:11 > 0:14:13Built in the 1960s,
0:14:13 > 0:14:16this was formerly the school caretaker's house.
0:14:16 > 0:14:19Set back from the road and with a garage, it already seems like
0:14:19 > 0:14:24a lot of property for that 190 to £200,000 guide price.
0:14:24 > 0:14:27So, will the inside also make me think that this house
0:14:27 > 0:14:28has a positive future?
0:14:28 > 0:14:33Yes, it's bright, but that's good. We like a nice bright entrance hall.
0:14:33 > 0:14:34Absolutely marvellous.
0:14:34 > 0:14:37Stairs up to your bedrooms there and space where you can put things
0:14:37 > 0:14:38when you come through the door.
0:14:38 > 0:14:40Through from there into the lounge.
0:14:40 > 0:14:42Now, that is interesting.
0:14:42 > 0:14:45A colour combination I've not seen before on a fireplace.
0:14:45 > 0:14:48Er, sort of, what's that? Oxford blue and black.
0:14:48 > 0:14:50Nice, big windows.
0:14:50 > 0:14:53It looks like they're metal-framed ones, so double glazing is required.
0:14:53 > 0:14:54And then a mysterious door.
0:14:54 > 0:14:57Hm-hm, what's behind here? Cupboard space, perhaps?
0:14:57 > 0:14:59Views of the Serengeti?
0:14:59 > 0:15:00Doo-doo-doo... Wheeow!
0:15:00 > 0:15:04Nope, it's the dining room. Look at that.
0:15:04 > 0:15:06Absolutely marvellous.
0:15:06 > 0:15:11A fairly standard layout for a 1960s semi and we're liking it so far.
0:15:11 > 0:15:13Well, even with the boarded-up windows,
0:15:13 > 0:15:16this is actually quite a light, airy space.
0:15:18 > 0:15:20And the kitchen? Well, that's not bad.
0:15:20 > 0:15:23It's a decent size with decent units.
0:15:23 > 0:15:26Maybe the flooring could be improved, though.
0:15:26 > 0:15:28A lick of paint, possibly change the tiling,
0:15:28 > 0:15:30but, really, it is in pretty good fettle.
0:15:31 > 0:15:35Upstairs in what is a very serviceable house,
0:15:35 > 0:15:36you know, it's well-designed.
0:15:36 > 0:15:39Landing area here, you've got your bathroom where you hope it would be,
0:15:39 > 0:15:41at the top of the stairs.
0:15:41 > 0:15:43It needs a bit of modernisation, of course.
0:15:43 > 0:15:45Then through into the bedroom.
0:15:45 > 0:15:48All the bedrooms, it's fair to say, a good size.
0:15:48 > 0:15:50Two at the front and this one at the back.
0:15:50 > 0:15:53A bit of built-in cupboardage, which is always good
0:15:53 > 0:15:55and views out across the garden,
0:15:55 > 0:15:57- so, all in all... - HE EXHALES
0:15:57 > 0:15:59..you know, it's... It does what it's supposed to do.
0:15:59 > 0:16:02It's a good-size family home.
0:16:02 > 0:16:03Yes, you've seen this before.
0:16:03 > 0:16:06A solid three-bed semi in reasonable order,
0:16:06 > 0:16:09which just needs some updating. Nothing more, nothing less.
0:16:11 > 0:16:16# I am what I am
0:16:18 > 0:16:23# I am what I am... #
0:16:23 > 0:16:25Well, at the side of the property,
0:16:25 > 0:16:28this single-storey outbuilding contains a loo.
0:16:28 > 0:16:32Now, that is interesting, but what is more interesting would be to
0:16:32 > 0:16:35build some kind of extension either on the side -
0:16:35 > 0:16:37two-storey, perhaps - or at the back.
0:16:37 > 0:16:39The nice thing is, once you take off those boards
0:16:39 > 0:16:41from the rear property, you have actually
0:16:41 > 0:16:45got instant access to this, which is a really nice-sized family garden.
0:16:45 > 0:16:46Is that worth doing?
0:16:46 > 0:16:49Don't know, you'd need to check local property prices.
0:16:49 > 0:16:52On the face of it, I would say...yeah, I think it probably is.
0:16:52 > 0:16:55And with a single-storey extension already in place and not
0:16:55 > 0:17:00being one of Canterbury's historic buildings, I suspect planning
0:17:00 > 0:17:04for a rear or side extension wouldn't be too problematic.
0:17:04 > 0:17:07It will slow the refurbishment down, though, and would add to the
0:17:07 > 0:17:12budget, so costs versus return do need to be considered.
0:17:12 > 0:17:15Let's chat to a local estate agent to see what he thinks.
0:17:15 > 0:17:19It's always worthwhile extending a property and adding value to it.
0:17:19 > 0:17:21Certainly, when I first viewed the property,
0:17:21 > 0:17:23I thought we could extend outwards as well
0:17:23 > 0:17:25and that would give the kitchen
0:17:25 > 0:17:28a bit more room and make a kitchen-dining area.
0:17:28 > 0:17:32And, with what was a 190 to £200,000 guide price,
0:17:32 > 0:17:34how would the numbers stack up?
0:17:36 > 0:17:40I would put this property on the market at the moment for £230,000.
0:17:40 > 0:17:43I would rent the property with a little bit of work at
0:17:43 > 0:17:45about £1,000 per calendar month.
0:17:45 > 0:17:50If extended and resold, I would sell this property at £250,000.
0:17:56 > 0:17:57Well, a nice enough place
0:17:57 > 0:18:00that doesn't need too much work to sort it out.
0:18:00 > 0:18:02Obviously, a bit of a disadvantage that it's
0:18:02 > 0:18:05so close to the educational establishment and it would be
0:18:05 > 0:18:08ideally built in the 1600s rather than the 1960s,
0:18:08 > 0:18:11but not to worry - I'm sure someone still loved the idea of
0:18:11 > 0:18:14taking it on when it went under the hammer.
0:18:17 > 0:18:20Over the page for the last time today for the last two lots.
0:18:20 > 0:18:22Lot 83 is the first one.
0:18:22 > 0:18:25It's a semidetached property with three bedrooms.
0:18:25 > 0:18:28Needs some improvement. It's over on the east side of Canterbury.
0:18:28 > 0:18:29Start me at 180, then.
0:18:29 > 0:18:31180, I'm on the way. At the back, 180 I have.
0:18:31 > 0:18:35185 I want and now I've got it. Sitting in the front row.
0:18:35 > 0:18:36190. It's against you.
0:18:36 > 0:18:39185 I've got. 188 I'll take if it helps.
0:18:39 > 0:18:43188, it does. 190 if you like. 190.
0:18:43 > 0:18:46So, despite being the penultimate lot of the day, competition was
0:18:46 > 0:18:50fierce for the Canterbury property and we rejoin the auction
0:18:50 > 0:18:52with bids now at 220,000.
0:18:53 > 0:18:57220. And two. 222.
0:18:57 > 0:18:59222.
0:18:59 > 0:19:02And four. 224. And six.
0:19:02 > 0:19:03226.
0:19:03 > 0:19:07And eight? 228. 230. And two again?
0:19:08 > 0:19:09232. And four?
0:19:09 > 0:19:10234?
0:19:11 > 0:19:15At £232,000 and sitting right at the back for the first time.
0:19:15 > 0:19:17232 for the second.
0:19:18 > 0:19:21232. If you are sure you're all done and all out,
0:19:21 > 0:19:23third and final time...
0:19:23 > 0:19:26£232,000...
0:19:26 > 0:19:28And so, for £232,000,
0:19:28 > 0:19:31the new owner of the three-bed Canterbury semi is Hari.
0:19:32 > 0:19:35Hari knows the location well and also owns
0:19:35 > 0:19:37a couple of rental properties in the area.
0:19:37 > 0:19:41I met him back at the house to find out what he planned for this one.
0:19:41 > 0:19:44- Great to meet you.- It's very nice to meet you, Martin.
0:19:44 > 0:19:45Congratulations.
0:19:45 > 0:19:48- Thank you very much.- Tell me why you wanted to buy this house.
0:19:48 > 0:19:51- I want to make it a four-bed student let...- Oh, wow.
0:19:51 > 0:19:53..or possibly professional.
0:19:53 > 0:19:55I haven't decided what I'm going to do yet.
0:19:55 > 0:20:00But you want to do it where you rent out the rooms room by room, do you?
0:20:00 > 0:20:04Yes, but I could make it just a one-tenant agreement.
0:20:04 > 0:20:06And why do you want to do that
0:20:06 > 0:20:09rather than just rent it out or sell it on?
0:20:09 > 0:20:12- Erm, this is very close to the city centre...- Yes.
0:20:12 > 0:20:15- ..and very close to a couple of universities.- Yes.
0:20:15 > 0:20:19That's why I think this is a good area.
0:20:19 > 0:20:22So, tell me what you're going to do to the house.
0:20:22 > 0:20:27I'm thinking I'm going to divide between the dining room and lounge
0:20:27 > 0:20:30so I can make one communal room and one is a bedroom,
0:20:30 > 0:20:32so I can make it a four-bedroom.
0:20:32 > 0:20:35I'm going to keep it exactly how it is upstairs. A lick of paint.
0:20:35 > 0:20:37I think there's not much that needs doing to it.
0:20:37 > 0:20:41Maybe changing the doors according to building regulations
0:20:41 > 0:20:43and my major project is the windows.
0:20:43 > 0:20:46Kitchen and the bathroom? Will you replace both of those?
0:20:46 > 0:20:48Er, no, I think...
0:20:48 > 0:20:53Because I want to do some major projects in the next year and we're
0:20:53 > 0:20:56going to possibly reconfigure the house,
0:20:56 > 0:20:59get planning permission for on the side.
0:20:59 > 0:21:01What will that be, then? A two-storey extension?
0:21:01 > 0:21:02- Yes, two-storey.- OK.
0:21:02 > 0:21:06So, what's the budget, then, for what you're initially going to do?
0:21:06 > 0:21:09- £15,000.- 15?- Yes, £15,000.
0:21:09 > 0:21:12'So, this is going to be a two-phased project
0:21:12 > 0:21:14'with Hari looking to convert it,
0:21:14 > 0:21:17'first as a four-bed let, potentially for students,
0:21:17 > 0:21:20'and then, provided he gets planning, he hopes to build
0:21:20 > 0:21:24'a large side extension to create additional rental space,
0:21:24 > 0:21:27'and the idea is to complete the first phase in just six weeks.'
0:21:27 > 0:21:30So, have you always been a property developer?
0:21:30 > 0:21:33- No. I started four years ago.- OK.
0:21:33 > 0:21:35In 2010 I was in the military.
0:21:35 > 0:21:40I was in Afghanistan and I got injured and I lost both legs.
0:21:40 > 0:21:43Was it a land mine that you hit?
0:21:43 > 0:21:50Yes, it was an old Russian mine, which was connected as an IED.
0:21:50 > 0:21:57- Right.- And after that, then, life is upside down.- I'll bet!
0:21:57 > 0:22:03But life has to carry on, so I was thinking, what am I going to do?
0:22:03 > 0:22:08I want to work for myself and those kinds of things and this gave
0:22:08 > 0:22:11me freedom, so I travel quite a lot abroad.
0:22:11 > 0:22:15- I do lots of charity walks. - Do you?- Yes.
0:22:15 > 0:22:20I did kayaking, five days kayaking in France.
0:22:20 > 0:22:25I did a 460-mile kayak in the Yukon River in Canada this last year.
0:22:25 > 0:22:29- Oh, wow!- To give me those times, would be only the properties.
0:22:29 > 0:22:32- OK.- So that's why I got into property
0:22:32 > 0:22:36and I absolutely love it and I'm loving it now.
0:22:36 > 0:22:38- Good!- And growing more and more!
0:22:39 > 0:22:44'Hari was born in Nepal and joined the Gurkhas in 1999.
0:22:44 > 0:22:47'He served all over the world and since those shattering events
0:22:47 > 0:22:51'of 2010, he views property development as
0:22:51 > 0:22:54'a way of getting the freedom to fulfil his ambitions.
0:22:54 > 0:22:58'As well as an action-packed schedule, he has three children.'
0:22:59 > 0:23:01I think what I felt was that life...
0:23:03 > 0:23:07I thought that I could just leave it there and watch telly, play with
0:23:07 > 0:23:12my family and the children and I could live my life like that,
0:23:12 > 0:23:16but I think life is a bit more valuable than that, you know?
0:23:16 > 0:23:21You should do as much as you can do and I think if I do something
0:23:21 > 0:23:24else, it will be positive back for other people,
0:23:24 > 0:23:29my children, my family, and also if I do something good,
0:23:29 > 0:23:31other people can follow.
0:23:31 > 0:23:34It sounds like you've really made the most
0:23:34 > 0:23:36of what is a horrendous situation
0:23:36 > 0:23:40- and turned it, as you say, on its head, but in a positive way.- Yes.
0:23:40 > 0:23:45I think for me it was OK, because I had support and I was trained
0:23:45 > 0:23:52in the military that I could combat adversity and preserve myself,
0:23:52 > 0:23:56but for my family, it was very, very hard. Really hard.
0:23:56 > 0:23:59But I think they're loving it at the moment,
0:23:59 > 0:24:01so I think they are proud of me!
0:24:01 > 0:24:04I'm sure they are. Listen, congratulations. Good luck with it.
0:24:04 > 0:24:06Thank you very much, Martin. I really appreciate it.
0:24:06 > 0:24:10- I really look forward to seeing how you get on.- Thanks so much.
0:24:10 > 0:24:13Well, what an inspirational person Hari is,
0:24:13 > 0:24:18turning his life around...in such a way.
0:24:18 > 0:24:21Hopefully, he will turn this property
0:24:21 > 0:24:24around equally successfully.
0:24:24 > 0:24:28You can find out how he gets on later in the show.
0:24:28 > 0:24:30Coming up in Derbyshire, I think I've found
0:24:30 > 0:24:32a new angle on property design.
0:24:32 > 0:24:36Very wonky window. The wonkiest window I've ever seen!
0:24:38 > 0:24:41We return to Canterbury in Kent to find out why Hari
0:24:41 > 0:24:44is so pleased about his property purchase.
0:24:44 > 0:24:48£200 more in a month. That's great!
0:24:51 > 0:24:55But first, we return to just outside Bexhill-on-Sea in East Sussex
0:24:55 > 0:24:59and it was here, lurking amongst the residential properties,
0:24:59 > 0:25:02where we first came across a place that frightens many people and
0:25:02 > 0:25:05makes them, well, uncertain about going in.
0:25:06 > 0:25:10# Don't be scared of me... #
0:25:10 > 0:25:13Normally, I get really nervous going to the dentist,
0:25:13 > 0:25:14but I feel all right today.
0:25:15 > 0:25:19Yes, this former bungalow had been turned into a dental surgery
0:25:19 > 0:25:23and now it was in need of some reconstruction work of its own,
0:25:23 > 0:25:26but, with a change of use required to turn it back from commercial
0:25:26 > 0:25:31to residential and with a strange triangle of land that wasn't sold
0:25:31 > 0:25:35with the lot, this was a potentially scary project for the unwary.
0:25:38 > 0:25:43None of this put off Vanessa, who bought it at auction for 247,000.
0:25:43 > 0:25:46This was the next property project for her,
0:25:46 > 0:25:48her three children and partner Paul.
0:25:52 > 0:25:56After my divorce, I've got three children, and I just sort of
0:25:56 > 0:25:59formed a property development company and this is our 13th.
0:25:59 > 0:26:02- In how long? 13 in how many years?- Three years.
0:26:02 > 0:26:04- Wow!- So it's been quite quick!
0:26:04 > 0:26:06So, when you say you do the work yourself,
0:26:06 > 0:26:08- is this for you, now, your job?- Yes.
0:26:08 > 0:26:09You wake up, you're on site,
0:26:09 > 0:26:11you're here with the builders every day?
0:26:11 > 0:26:16- Yeah.- Yeah. Well, not builders. It's me.- We are.
0:26:16 > 0:26:19- So, who will be fitting the kitchen and fitting the bathroom?- I will.
0:26:19 > 0:26:22- So you will be doing all of that?- Yeah.- We will.
0:26:22 > 0:26:25'So, Vanessa and Paul, who is a qualified electrician,
0:26:25 > 0:26:29'are going to be very much hands-on and they've given themselves
0:26:29 > 0:26:34'a £25,000 budget and a fairly relaxed timescale of eight months.'
0:26:34 > 0:26:39But Vanessa's other properties were all straightforward refurbishments
0:26:39 > 0:26:43without the legal complications that came with this lot.
0:26:43 > 0:26:45So, had they bitten off more than they can chew?
0:26:46 > 0:26:49Well, 15 months later we're back.
0:26:53 > 0:26:57Wow! That is mighty impressive.
0:26:57 > 0:27:01There's a completely new driveway with the access moved to the left,
0:27:01 > 0:27:04avoiding the land that wasn't part of the lot.
0:27:04 > 0:27:08The garage door is gone and has been replaced by a wall and a window.
0:27:08 > 0:27:11Well, now I'm fascinated to find out what's inside.
0:27:17 > 0:27:21We've taken the walls down in here to open it up so we've got
0:27:21 > 0:27:23a nice, long lounge for someone.
0:27:25 > 0:27:28Well, you certainly wouldn't mistake this for a dental surgery any more.
0:27:28 > 0:27:32The reception area has been integrated into the large lounge
0:27:32 > 0:27:35and there are patio doors leading out to the garden.
0:27:35 > 0:27:39The roof has been fixed in the conservatory and I like the fact
0:27:39 > 0:27:43that they decided to keep the fireplace as a feature.
0:27:43 > 0:27:46We've actually taken a wall out in the kitchen, so we made
0:27:46 > 0:27:50a larger kitchen, which we felt would be better for anybody
0:27:50 > 0:27:53than having a separate utility area.
0:27:53 > 0:27:55Well, now, look at that.
0:27:55 > 0:27:59It's bright, light and, with the walls removed, twice the size!
0:27:59 > 0:28:00I love it.
0:28:02 > 0:28:05We've taken certain walls down and rebuilt walls so we've got
0:28:05 > 0:28:07a nice, large bathroom for someone to use,
0:28:07 > 0:28:10incorporating a shower and a nice bath.
0:28:15 > 0:28:18And now, with three good-sized bedrooms, the inside of this place
0:28:18 > 0:28:22has certainly brought a smile to my face,
0:28:22 > 0:28:24but what about that overgrown garden?
0:28:26 > 0:28:28We've done a lot of work in the garden.
0:28:28 > 0:28:30There were lots of shrubs, lots of trees
0:28:30 > 0:28:33and it was really, really congested, so all been removed.
0:28:33 > 0:28:37It's nice and it looks quite spacious now, out here.
0:28:37 > 0:28:41Returfed all this area down here, just keeping the wall,
0:28:41 > 0:28:44and a really nice deck area, which would be nice to sit out on,
0:28:44 > 0:28:46so I'm really happy with the way the garden's worked out.
0:28:46 > 0:28:48It's really good.
0:28:48 > 0:28:50Yes, Vanessa should be so pleased.
0:28:50 > 0:28:54I think she and Paul have done a fantastic job,
0:28:54 > 0:28:57but the only thing is, well, it's taken nearly double the time.
0:28:57 > 0:28:58So, what happened?
0:28:58 > 0:29:00We had to wait for planning permission,
0:29:00 > 0:29:04so a couple of months went by before we could really do any serious work,
0:29:04 > 0:29:08and then, obviously, building control and everything else,
0:29:08 > 0:29:12so it did take a while before we got things completely organised.
0:29:12 > 0:29:15# It's taken, it's taken so long
0:29:15 > 0:29:18# Oh, it's been like pulling teeth... #
0:29:18 > 0:29:21But it wasn't just extracting the change of use and getting
0:29:21 > 0:29:24building regulations sorted that delayed things.
0:29:24 > 0:29:27I had my leg operated on in the year, unfortunately,
0:29:27 > 0:29:29on my Achilles tendon.
0:29:29 > 0:29:32So I was a bit out of action so we have had more help than
0:29:32 > 0:29:36normal, but having said that, my kids have all got involved and my
0:29:36 > 0:29:38youngest son has knocked the walls down in the kitchen.
0:29:38 > 0:29:42In the bathroom, my daughter has painted with me.
0:29:42 > 0:29:45But, obviously, I couldn't bend my leg so I couldn't do low things
0:29:45 > 0:29:47and I couldn't do high things.
0:29:47 > 0:29:51So in the middle was fine for me! It was a bit of a slow process.
0:29:51 > 0:29:55# It's taken, it's taken so long... #
0:29:58 > 0:30:01Ouch! That does sound painful, but despite help from Paul
0:30:01 > 0:30:06and the family because of the ankle, she had to get someone in to do the
0:30:06 > 0:30:09tiling which she would normally tackle herself.
0:30:09 > 0:30:12There were also a few other jobs that tradesmen were brought
0:30:12 > 0:30:15in to do. So how much has all this cost?
0:30:15 > 0:30:20A little more than I'd anticipated originally. Probably around 55.
0:30:21 > 0:30:24But I'm really happy with the way the garden looks.
0:30:24 > 0:30:26It's been landscaped and it looks really great.
0:30:26 > 0:30:28And, obviously, I had to do the front driveway.
0:30:28 > 0:30:30That had to be done properly.
0:30:30 > 0:30:33So, yes, a bit more but I think it was worth it.
0:30:33 > 0:30:36And it seems, indeed, in one sense, it's already paid off.
0:30:36 > 0:30:39We put the bungalow up for sale and it sold within three weeks,
0:30:39 > 0:30:41so, yes, we've got a buyer.
0:30:42 > 0:30:44Well, that is great news.
0:30:44 > 0:30:49But a £55,000 budget on top of her £247,000 purchase price takes
0:30:49 > 0:30:53Vanessa's total cost to 302,000.
0:30:53 > 0:30:57So is she right? Was it worth the extra spend?
0:30:57 > 0:30:59What do two local estate agents think?
0:30:59 > 0:31:02First off, the agent who saw it the first time.
0:31:02 > 0:31:04I'm very impressed with the changes that they've done.
0:31:04 > 0:31:06I think they've made the bungalow really bright,
0:31:06 > 0:31:09spacious and they've taken a couple of walls down just to
0:31:09 > 0:31:11give it that bit more feel of space, I think. So, very impressed.
0:31:11 > 0:31:15I think what they've done is quite superb, really.
0:31:15 > 0:31:17They've really opened it up. The gardens are nice and wide.
0:31:17 > 0:31:20There's a bit of room between the bungalow next door and to the
0:31:20 > 0:31:21other side.
0:31:21 > 0:31:24The front garden, they've obviously created the lovely big block-paved
0:31:24 > 0:31:29driveway, so plenty of parking, so they've made it much nicer.
0:31:29 > 0:31:32Well, Vanessa may have already sold the house, but did she get the
0:31:32 > 0:31:34best price for it?
0:31:34 > 0:31:37I think this property would sell for, in the current market,
0:31:37 > 0:31:40between £390,000 and £400,000.
0:31:40 > 0:31:45I would suggest a figure around £390,000 to £400,000.
0:31:45 > 0:31:51I think that's spot-on, since I've actually managed to achieve 392,500.
0:31:51 > 0:31:54- So, yes, happy with that. - Pretty good.
0:31:54 > 0:32:02And that £392,500 sale price would see a pre-tax profit of £90,500.
0:32:02 > 0:32:06And if the new owner was looking to rent the bungalow out, the agents
0:32:06 > 0:32:11felt values of around £1,200 per calendar month would be possible.
0:32:11 > 0:32:13So in the end, this property purchase
0:32:13 > 0:32:17has worked out well for Vanessa, her kids and Paul.
0:32:17 > 0:32:22- So is she ready now to sink her teeth into more projects?- Yes.
0:32:22 > 0:32:27- We've just bought two more flats, so more renovations.- More work.
0:32:27 > 0:32:28Yes, more work.
0:32:33 > 0:32:35Swadlincote is at the heart of the National Forest,
0:32:35 > 0:32:39but it's also the main town in the district of South Derbyshire.
0:32:39 > 0:32:43So you get the best of both worlds - town and country.
0:32:43 > 0:32:46On this well-kept street, which has some really nice countryside
0:32:46 > 0:32:49views, is the property I'm here to see.
0:32:49 > 0:32:54It's a three-bedroom semidetached house with a guide price of £58,000.
0:32:54 > 0:32:59And here it is and it doesn't look too bad so far. Or does it?
0:32:59 > 0:33:03Maybe I spoke too soon. I can see some cracks on the render.
0:33:03 > 0:33:06I hope that is not a running theme.
0:33:06 > 0:33:09The front door and windows look pretty new, which is good,
0:33:09 > 0:33:12but I'm hoping those cracks aren't recent.
0:33:12 > 0:33:16I definitely need to explore further.
0:33:16 > 0:33:18OK. In out of the cold.
0:33:18 > 0:33:21The door seemed to fall away from me.
0:33:21 > 0:33:25In front of me I've got the stairs going up to the bedrooms.
0:33:25 > 0:33:27As soon as you walk into this property you get
0:33:27 > 0:33:29a feel it's falling away from you.
0:33:29 > 0:33:33That door just fell away from me. Let's see if this door's the same.
0:33:35 > 0:33:37Yes. Automatic doors as well.
0:33:37 > 0:33:40This is a good size room and I can't help,
0:33:40 > 0:33:44I've got to reiterate that I'm falling to my left all the time.
0:33:44 > 0:33:46The levels seem to be quite strange.
0:33:46 > 0:33:51This is a really nice big lounge, dining area, living room area.
0:33:51 > 0:33:55Strange colour of purple but you know, each to their own.
0:33:55 > 0:34:00But the levels do really worry me. What have we got in here?
0:34:00 > 0:34:02We've got a bit of storage in here.
0:34:02 > 0:34:05But if I let that go, the same thing happens.
0:34:05 > 0:34:09Again, nice double-glazed windows, though, which I do like.
0:34:09 > 0:34:14And through into the kitchen, which is a good size galley kitchen.
0:34:14 > 0:34:16It looks in decent condition.
0:34:16 > 0:34:22The whole place needs to be re-painted and brightened up somewhat.
0:34:22 > 0:34:25Down here, you'd possibly have a table and chairs.
0:34:25 > 0:34:27But the levels do worry me.
0:34:27 > 0:34:32They are not quite right and if I open that slightly and just
0:34:32 > 0:34:33leave it...
0:34:34 > 0:34:37..you can clearly see that it's not good.
0:34:37 > 0:34:40# Here comes that sinking feeling
0:34:45 > 0:34:49# Here comes that sinking feeling... #
0:34:50 > 0:34:54The only positive, if you can call it that, is that the doors do
0:34:54 > 0:34:58swing freely, which suggests they have been hung like that and
0:34:58 > 0:35:02therefore the house may have been off-kilter for some time.
0:35:02 > 0:35:05That's potentially good news because it could mean the house
0:35:05 > 0:35:08has settled and won't move any more.
0:35:08 > 0:35:12But I can't emphasise this enough. Get this checked out by an expert.
0:35:12 > 0:35:16Not only could it put buyers off, but it could also, potentially,
0:35:16 > 0:35:19put lenders off too, which could affect its value.
0:35:21 > 0:35:23OK, upstairs to the three bedrooms.
0:35:23 > 0:35:26Right at the bottom of the corridor here we've got the family bathroom
0:35:26 > 0:35:30which is a good sized bathroom in not bad condition either.
0:35:30 > 0:35:34And the three bedrooms. I'm going to come into there in one second.
0:35:34 > 0:35:36Two further bedrooms here,
0:35:36 > 0:35:39one at the front of the property with fitted wardrobes and
0:35:39 > 0:35:43more of a box bedroom just there in the middle with a very wonky window.
0:35:43 > 0:35:46The wonkiest window I've ever seen!
0:35:46 > 0:35:50Into this bedroom, the third of the three.
0:35:50 > 0:35:52Not bad sized bedrooms at all.
0:35:52 > 0:35:55The whole of this house needs modernising but I just want
0:35:55 > 0:35:57to try something.
0:35:57 > 0:36:01Let me just get my Homes Under The Hammer wages out!
0:36:01 > 0:36:05A bit of overtime this month! Let me just try this.
0:36:10 > 0:36:12# You've got to roll with it
0:36:12 > 0:36:14# You've got to take your time
0:36:14 > 0:36:17# You've got to say what you say...
0:36:17 > 0:36:18That's not good.
0:36:18 > 0:36:21And sometimes it's good to be on a roll.
0:36:21 > 0:36:23This may not be one of those times.
0:36:23 > 0:36:26But again, there is some encouragement in that the flooring,
0:36:26 > 0:36:31doors and windows may have been fitted around the house's incline.
0:36:31 > 0:36:33With no obvious cracks in sight,
0:36:33 > 0:36:37I do sense the movement may be historical, which is good news.
0:36:37 > 0:36:40Perhaps a look outside will shed more light on the matter.
0:36:40 > 0:36:44OK, outside in the back garden and the theme of...
0:36:44 > 0:36:48OK...slanty floors and gradients continues.
0:36:49 > 0:36:53Here we are at the end of the back garden on a bit of patioed area.
0:36:53 > 0:36:54It's not as steep as I made out.
0:36:54 > 0:36:58It's a slight gradient, but it's not too bad.
0:36:58 > 0:36:59It's in good condition as well.
0:36:59 > 0:37:04You've got an area here where you could put a greenhouse or a shed.
0:37:04 > 0:37:07There's not much work to do out here. Just like in the house.
0:37:07 > 0:37:09Not much to do at all.
0:37:10 > 0:37:14It is a slightly odd one, this, because if this was all on
0:37:14 > 0:37:17the level, I would be enthusiastic about the general state and
0:37:17 > 0:37:19layout of this house.
0:37:19 > 0:37:23But with its wonkiness, I still have nagging doubts about this place.
0:37:25 > 0:37:30So is this a place where you can see the money rolling in or roll away?
0:37:30 > 0:37:32What does a local estate agent think?
0:37:34 > 0:37:40The movement in this house is quite significant and we would
0:37:40 > 0:37:47suggest the surveyor would need to inspect the property and we
0:37:47 > 0:37:51would need him to disclose whether it is past movement or not.
0:37:51 > 0:37:55If the property needs to be underpinned, that can be very,
0:37:55 > 0:37:58very costly and expensive to any buyer.
0:37:58 > 0:38:01They would never recoup that amount.
0:38:01 > 0:38:04OK, then. So from an investment point of view,
0:38:04 > 0:38:08any current subsidence could spell disaster and may also make
0:38:08 > 0:38:10this house unmortgageable.
0:38:10 > 0:38:15This could mean that re-sale might only be possible for a cash buyer.
0:38:15 > 0:38:17So what difference might that make to the value of the house,
0:38:17 > 0:38:19which was guided at 58 grand?
0:38:22 > 0:38:26If the property has to rely on a cash buyer, we'd be looking at
0:38:26 > 0:38:30a figure in the region of £85,000.
0:38:30 > 0:38:35If we didn't have to rely on a cash buyer, I would feel that we
0:38:35 > 0:38:37could achieve in the region of £100,000.
0:38:39 > 0:38:43That's encouraging. So what about its rental potential?
0:38:43 > 0:38:49The property could rent for £600 to £625 per calendar month.
0:38:53 > 0:38:57This looks like it should be a very straightforward project.
0:38:57 > 0:39:00However, I've walked around that house and it's got some very
0:39:00 > 0:39:04unlevel floors and some wonky windows.
0:39:04 > 0:39:07It's going to take someone very level-headed to get this
0:39:07 > 0:39:08place sorted out.
0:39:08 > 0:39:12Let's find out who that was when it went under the hammer.
0:39:14 > 0:39:16Lot 60 today.
0:39:16 > 0:39:19A traditional three-bedroom semidetached house ready for
0:39:19 > 0:39:20immediate occupation.
0:39:20 > 0:39:25Who will start me off at the guide of 58? 58, I have. 59 elsewhere.
0:39:25 > 0:39:3359 and 60. 60 is bid. It's against you. 61, 62, 62, is bid.
0:39:35 > 0:39:39With the price of the lot going up slowly, we re-join the bidding
0:39:39 > 0:39:40at £69,000.
0:39:42 > 0:39:4869, 69 taken. And a half. 70,000. And a half. 71.
0:39:50 > 0:39:5471 and a half.
0:39:54 > 0:39:58At £71,000, seated in the second row for the first time.
0:39:58 > 0:40:00£71,000 for the second time.
0:40:02 > 0:40:06The third and final time, make no mistake, it goes. Sold.
0:40:06 > 0:40:09It's yours, sir, at 71,000. Thank you.
0:40:09 > 0:40:12And so with the hammer falling at £71,000, the successful bidder
0:40:12 > 0:40:15for the three-bed house in Swadlincote was Abdul.
0:40:18 > 0:40:22Abdul is an auction broker and buys houses for clients.
0:40:22 > 0:40:24I met him back at the house to hear more.
0:40:27 > 0:40:30- Abdul, nice to meet you, sir.- Hi, Dion. How are you?- Congratulations.
0:40:30 > 0:40:32- Thank you very much.- Tell us a bit more about your business.
0:40:32 > 0:40:34- What do you do?- We source discounted properties for clients.
0:40:34 > 0:40:37There are a lot of professionals, overseas investors,
0:40:37 > 0:40:39they don't have time to source discounted properties
0:40:39 > 0:40:42so we do all the legwork that's involved.
0:40:42 > 0:40:44At the same time we've got a team of builders that we know that
0:40:44 > 0:40:46bring properties back to freshness.
0:40:46 > 0:40:49And is it mainly properties like these that you source?
0:40:49 > 0:40:51We do two types of projects.
0:40:51 > 0:40:54We do a buy-to-let project where there is not much needed,
0:40:54 > 0:40:56just a bit of painting to bring it back to freshness.
0:40:56 > 0:40:59Or there is a flip project that we offer where it is
0:40:59 > 0:41:01a rundown house that needs a lot of modernising.
0:41:01 > 0:41:04What is the plan for this one, then? For your client?
0:41:04 > 0:41:07This one was bought for a doctor. He has got two minds.
0:41:07 > 0:41:11The reason we insisted for him to buy this one was because
0:41:11 > 0:41:14a few doors away, a property got sold for £110,000.
0:41:14 > 0:41:17Slightly bigger, but same three bedrooms.
0:41:17 > 0:41:19And he managed to achieve this for 71,000.
0:41:19 > 0:41:21So there is a lot of movement.
0:41:21 > 0:41:23We have advised him to put it back on the market for 95,000,
0:41:23 > 0:41:25so it's his choice, really.
0:41:25 > 0:41:27He might rent it out or flip it.
0:41:27 > 0:41:29So what made you get into property, then?
0:41:29 > 0:41:33I used to run a packaging business and I used to go to work late
0:41:33 > 0:41:36because I used to be very attracted to the Homes Under The Hammer
0:41:36 > 0:41:41series and I realised it's a very good business to get into and
0:41:41 > 0:41:42I started my property business.
0:41:42 > 0:41:45Once I started my property business, looking at how things work,
0:41:45 > 0:41:49I realised there was a big dip in the market.
0:41:49 > 0:41:52So in the space of nine months, we've sold numerous properties
0:41:52 > 0:41:55and we've become a very common figure in the auction room
0:41:55 > 0:41:58and I should say this, it's all thanks to Homes Under The Hammer.
0:41:58 > 0:42:02- Really?- Yes.- This is an absolute pleasure.- Thank you.
0:42:02 > 0:42:05- Just pop the cheque in the post! - Thank you!
0:42:05 > 0:42:07# Thank you very much
0:42:07 > 0:42:10# That's really nice to know
0:42:10 > 0:42:12# That you enjoy the show... #
0:42:12 > 0:42:16It's great when people get inspired to try something new and
0:42:16 > 0:42:20so far Abdul's career path seems to be working out for him, but
0:42:20 > 0:42:23every property purchase has different challenges and this
0:42:23 > 0:42:24one is no exception.
0:42:26 > 0:42:30Let me start with what I noticed as soon as I came into the property.
0:42:30 > 0:42:34When I came in the front door, I felt like I was falling towards
0:42:34 > 0:42:35the back of the property.
0:42:35 > 0:42:38- That's right. - Has the property got a problem?
0:42:38 > 0:42:40There is a bit of subsiding in the property.
0:42:40 > 0:42:42There's a history of mining, as well.
0:42:42 > 0:42:45But we've been advised that it shouldn't be a problem.
0:42:45 > 0:42:47Nothing in the legal pack at all?
0:42:47 > 0:42:49No, nothing in the legal pack for this.
0:42:49 > 0:42:53And you're not going to do anything about it? Have you had it checked?
0:42:53 > 0:42:56As long as our surveyor approves it, we can put it back on the market.
0:42:56 > 0:42:58- Happy to go.- That's right. - Right, that's done.
0:42:58 > 0:43:00What are you going to do with the inside of the property?
0:43:00 > 0:43:03Interior, the colours, as you can see, are quite odd.
0:43:03 > 0:43:06The investor has suggested that he might freshen it up a little bit.
0:43:06 > 0:43:08Probably paint the whole house white.
0:43:08 > 0:43:10Are you changing any of the configuration?
0:43:10 > 0:43:11- Are you changing upstairs?- No.
0:43:11 > 0:43:14- On this one, everything stays the way it is.- As it is?- As it is, yes.
0:43:14 > 0:43:17- And what's your budget?- Personally I would advise the investor to spend
0:43:17 > 0:43:20not more than £3,000 renovating the place.
0:43:20 > 0:43:23It needs a new gas fire, a bit of attention here and there.
0:43:23 > 0:43:25How long is it going to take? What's your timescale?
0:43:25 > 0:43:27- I've been told it's going to be about two weeks.- Two weeks?
0:43:27 > 0:43:29Two weeks, yes. There's not much needed, really.
0:43:29 > 0:43:33- That is a quick turnaround.- The main issue is the outside rendering.- Yes.
0:43:33 > 0:43:35There's a few cracks out there.
0:43:35 > 0:43:40So they might want to repair that before bringing an estate agent in.
0:43:40 > 0:43:42Let's hope for Abdul and his client's sake there's
0:43:42 > 0:43:45nothing structural that needs addressing here.
0:43:45 > 0:43:48Otherwise, that two-week timescale and the three-grand budget
0:43:48 > 0:43:52can go straight out of that wonky window.
0:43:52 > 0:43:55So Abdul, what role are you going to play on this project?
0:43:55 > 0:43:58- Project managing.- OK. Is that what you do on most of the projects?- Yes.
0:43:58 > 0:44:02We manage the builders and we give them a report on a weekly basis or
0:44:02 > 0:44:05every fortnight on what's happened, what the builders have done.
0:44:05 > 0:44:07Abdul, I wish you all the best.
0:44:07 > 0:44:09- I hope it works out for you and your client.- Thank you very much.
0:44:09 > 0:44:13- Take it easy.- Nice meeting you. Thank you.- Pleasure.
0:44:13 > 0:44:16I've got to say, I know a lot of people that would be a lot more
0:44:16 > 0:44:20worried about those wonky floors and wonky windows than Abdul is.
0:44:20 > 0:44:22He's given himself a three-grand budget and
0:44:22 > 0:44:26a very tight timescale of two weeks.
0:44:26 > 0:44:29One thing I will say about him though, I admire his tenacity.
0:44:29 > 0:44:32You can find out how he gets on later in the programme.
0:44:35 > 0:44:38Well, that's one property sorted, but what about the other two?
0:44:38 > 0:44:40Yes, Martin, how have they done?
0:44:40 > 0:44:43- Have they bitten off more than they can chew?- Only one way to find out.
0:44:43 > 0:44:45Stick around.
0:44:45 > 0:44:49It was in Canterbury, Kent, where we first saw a three-bed semi.
0:44:49 > 0:44:51It had a garage, off-road parking,
0:44:51 > 0:44:55plenty of space back and front and inside, a practical, good layout.
0:44:58 > 0:45:04It was bought by ex-Gurkha soldier Hari for £232,000 as part of
0:45:04 > 0:45:07his ever-expanding property portfolio.
0:45:07 > 0:45:15In 2010, I was in Afghanistan and I got injured and I lost both legs.
0:45:15 > 0:45:22- Right.- After that, life was upside down.- I'll bet.
0:45:22 > 0:45:27Life has to carry on, so I was thinking what am I going to do.
0:45:27 > 0:45:31I want to work for myself and those kind of things
0:45:31 > 0:45:33and this gave me freedom.
0:45:33 > 0:45:38I travel quite a lot abroad. I do lots of charity walks.
0:45:38 > 0:45:44So that's why I got into property and I absolutely love it and
0:45:44 > 0:45:45I'm loving it now.
0:45:46 > 0:45:50Hari really was quite an inspiration and he'd really taken to his
0:45:50 > 0:45:53new career with several properties already to his name.
0:45:55 > 0:45:59With a budget of £15,000, he planned to make this a four-bedroom house
0:45:59 > 0:46:04and then to rent it out to students on a single tenancy agreement.
0:46:04 > 0:46:07He hoped to complete the work in around six weeks and now,
0:46:07 > 0:46:09bang on that timescale, we are back.
0:46:14 > 0:46:15That's more like it.
0:46:15 > 0:46:19Kerb appeal definitely up a notch or two with the new windows and
0:46:19 > 0:46:21a roof that's been completely retiled.
0:46:23 > 0:46:25But will inside pass inspection?
0:46:30 > 0:46:33Well, that fireplace is much improved.
0:46:33 > 0:46:35It's now all crisp and clean,
0:46:35 > 0:46:37although I did think those doors were going.
0:46:40 > 0:46:44As you can see, we didn't block this door, as it was.
0:46:44 > 0:46:49I decided to let it out to a family, so I thought that would be
0:46:49 > 0:46:51more social.
0:46:51 > 0:46:53It's easy and more light and airy.
0:46:53 > 0:46:56And I think when you look at it, I think it looks great.
0:46:58 > 0:47:01So Hari is going for a family let, but he still thinks
0:47:01 > 0:47:06he will eventually convert it into a four-bed student let.
0:47:06 > 0:47:09For now, there is a very presentable dining room space with doors
0:47:09 > 0:47:12out to the garden and a well-appointed family kitchen.
0:47:18 > 0:47:20But what about upstairs?
0:47:27 > 0:47:30The three bedrooms have been fully renovated...
0:47:34 > 0:47:35..and the bathroom?
0:47:38 > 0:47:43That's been revamped, though the pine cladding does remain.
0:47:43 > 0:47:46The back garden has been tidied up and, overall, the house is
0:47:46 > 0:47:49definitely much improved.
0:47:49 > 0:47:53I project managed it myself.
0:47:53 > 0:47:59I just tried to minimise the cost down, but I had great builders,
0:47:59 > 0:48:02so they did a really good job, I think.
0:48:02 > 0:48:04I do like what's been done here.
0:48:04 > 0:48:07But this was going to be phase one with a planned phase two to add
0:48:07 > 0:48:09a large side extension.
0:48:09 > 0:48:13So is that still going to be the case?
0:48:13 > 0:48:15Yes. My plan is still on.
0:48:15 > 0:48:17I'm just taking a bit of time.
0:48:17 > 0:48:22I'm doing other things, so once I'm back from America, I will get
0:48:22 > 0:48:24planning permission and ready to go.
0:48:24 > 0:48:28I am changing the tenants and that is the time I would extend
0:48:28 > 0:48:30the property.
0:48:30 > 0:48:34Well, that could be a few years down the line, so let's assess phase one.
0:48:34 > 0:48:37How much did that cost?
0:48:37 > 0:48:45I calculated it last night and it is £16,771 and 21p.
0:48:48 > 0:48:50Well, he certainly knows his figures,
0:48:50 > 0:48:52to the nearest penny, in fact.
0:48:52 > 0:48:56But that budget with his £232,000 purchase price takes his
0:48:56 > 0:49:00total spend to just below £249,000.
0:49:00 > 0:49:05So is that money well spent? What do two local estate agents think?
0:49:07 > 0:49:10I think the changes he's made have been spot-on.
0:49:10 > 0:49:12He's spent money in the right places.
0:49:12 > 0:49:14He hasn't overdressed the house in other places.
0:49:14 > 0:49:17I think he's made the property stand out.
0:49:17 > 0:49:21The property in all is done to a very nice standard.
0:49:21 > 0:49:24I feel that the kitchen has quite a nice feel to it and quite
0:49:24 > 0:49:25a modern feel.
0:49:25 > 0:49:29I feel that the bathroom, still with the pine cladding,
0:49:29 > 0:49:31could be slightly updated.
0:49:31 > 0:49:34He may have got it right for the rental market, but what about
0:49:34 > 0:49:35the resale market?
0:49:35 > 0:49:38How would his £249,000 investment fare?
0:49:40 > 0:49:44I would offer this property to the market at 235 to £240,000.
0:49:45 > 0:49:50I would expect this property to sell for between £240,000 all the
0:49:50 > 0:49:52way up to £250,000.
0:49:54 > 0:49:57It was a good thing this was planned as a rental because currently
0:49:57 > 0:50:00Hari wouldn't be seeing much of a profit on a resale.
0:50:00 > 0:50:04So what about the all-important rental market?
0:50:04 > 0:50:07First, as it currently stands as a three-bed family let.
0:50:10 > 0:50:13I would rent this out to a family for £1,000 per calendar month.
0:50:13 > 0:50:17I would expect the residential market of renting this would
0:50:17 > 0:50:22be between £1,000 and £1,100.
0:50:22 > 0:50:26I think that's great. I was thinking about £1,100.
0:50:26 > 0:50:30And if Hari does convert to a four-bed let and tries renting it
0:50:30 > 0:50:33out on the student market, what values might he see then?
0:50:33 > 0:50:37I would let this property to four students at £1,400 per
0:50:37 > 0:50:39calendar month.
0:50:39 > 0:50:42I would expect this, as a room share or a student let,
0:50:42 > 0:50:46to rent anywhere between 1,200 to £1,400 per calendar month.
0:50:46 > 0:50:48That's great.
0:50:48 > 0:50:54I was expecting £1,200 so £200 more in a month, that's great.
0:50:54 > 0:50:59So, currently, he should get a yield just over 5% which would rise
0:50:59 > 0:51:03to 6.5% if he converts the dining room into a four-bedroom.
0:51:03 > 0:51:06Both of those are sound values,
0:51:06 > 0:51:09so is he planning more property purchases?
0:51:09 > 0:51:16Yes. I will definitely build my portfolio and learning more,
0:51:16 > 0:51:18investing in bigger properties.
0:51:18 > 0:51:22Possibly I might go to commercial, new builds,
0:51:22 > 0:51:24that's where I want to go next.
0:51:25 > 0:51:28Yes, but what about away from properties?
0:51:29 > 0:51:35Tomorrow I am flying to the United States and Florida to play
0:51:35 > 0:51:39golf with a charity who help rehabilitated soldiers.
0:51:39 > 0:51:44Then I have got a garden party in Buckingham Palace and also
0:51:44 > 0:51:49I've got kayak experience with injured soldiers, with amputees,
0:51:49 > 0:51:52and in December, I'm skiing in Nepal.
0:51:53 > 0:52:00# Don't you let nothing, nothing stand in your way... #
0:52:00 > 0:52:06If that wasn't enough, a small hike up Everest is planned in the future.
0:52:06 > 0:52:09That's amazing. As they say, you can't keep a good man down.
0:52:09 > 0:52:12# Ain't no stopping us now
0:52:12 > 0:52:14# We're on the move... #
0:52:22 > 0:52:27Swadlincote in Derbyshire is where I first saw this three-bed semi.
0:52:27 > 0:52:30From the moment I walked in, I felt something just wasn't right.
0:52:32 > 0:52:34You get a feel it's falling away from you.
0:52:34 > 0:52:38That door just fell away from me. Let's see if this door is the same.
0:52:38 > 0:52:43# Let it swing, let it rock and roll... #
0:52:45 > 0:52:47That's not good.
0:52:47 > 0:52:49And though the house did leave you with a bit of
0:52:49 > 0:52:52a sinking feeling, it wasn't in bad nick at all.
0:52:52 > 0:52:56There were signs that the movement was historic and not actually
0:52:56 > 0:52:57a problem any more.
0:52:59 > 0:53:03With a bid of £71,000, the successful bidder was Abdul,
0:53:03 > 0:53:07an auction broker who buys properties on behalf of clients.
0:53:09 > 0:53:11Tell us a bit more about your business.
0:53:11 > 0:53:14There are a lot of professionals, overseas investors who don't
0:53:14 > 0:53:16have time to source discounted properties,
0:53:16 > 0:53:19so we do all the legwork that's involved.
0:53:19 > 0:53:21At the same time, we've got a team of builders that we know that
0:53:21 > 0:53:23bring properties back to freshness.
0:53:23 > 0:53:24And what's the plan for this one then?
0:53:24 > 0:53:26He might rent it out or flip it.
0:53:28 > 0:53:31But if this was a sinking ship, his client had no intention of pushing
0:53:31 > 0:53:36the boat out with just a three-grand budget and a two-week timescale.
0:53:36 > 0:53:39Now, just three weeks later, we are back.
0:53:39 > 0:53:41Get ready with the big drumroll.
0:53:45 > 0:53:46Only kidding.
0:53:46 > 0:53:48It's not changed that much.
0:53:48 > 0:53:52In fact, even the cracks on the rendering are still there.
0:53:52 > 0:53:54The investors had two choices.
0:53:54 > 0:53:57They had the choice of selling the property that would make
0:53:57 > 0:53:59a good amount of money, or renting out the property.
0:53:59 > 0:54:01They have decided to take the rent out route.
0:54:01 > 0:54:05So they've spent the very minimum on the property.
0:54:05 > 0:54:08OK, then - let's play spot-the-difference.
0:54:08 > 0:54:09Before.
0:54:09 > 0:54:11After.
0:54:11 > 0:54:13Before.
0:54:13 > 0:54:14After.
0:54:14 > 0:54:16Not a lot of difference there.
0:54:16 > 0:54:20We just painted a bit of skirtings and doors and they've
0:54:20 > 0:54:21tidied the property.
0:54:23 > 0:54:29Oh, yes, I spotted that. Look at the door. Look. What a transformation!
0:54:30 > 0:54:34OK, so not much changed, but it wasn't in bad condition to
0:54:34 > 0:54:37start with, so I'm guessing it didn't take much time to do either.
0:54:39 > 0:54:44It took them one day to paint the skirtings and clean the property.
0:54:44 > 0:54:50# Just one, just one Just one day... #
0:54:50 > 0:54:54One day may have been all it needed to lick this place back into shape,
0:54:54 > 0:54:57but surely there was no glossing over those signs
0:54:57 > 0:54:59of previous subsidence.
0:54:59 > 0:55:02They've had a few local agents come in, I think, and they've
0:55:02 > 0:55:06not had an issue with the subsiding, so they feel quite
0:55:06 > 0:55:09comfortable to let it out at its current position,
0:55:09 > 0:55:12so they've decided to take that route and rent it out as it is.
0:55:14 > 0:55:19Yes. With this aimed at the rental market, any concerns over further
0:55:19 > 0:55:20movements are less pressing.
0:55:20 > 0:55:24It might affect its ease of a resale, but it's unlikely to greatly
0:55:24 > 0:55:26affect the rental potential.
0:55:28 > 0:55:31So come on then, let's talk numbers.
0:55:31 > 0:55:33Because I thought they were going to sort the rendering out, the
0:55:33 > 0:55:35budget was about £3,000.
0:55:35 > 0:55:37Because they have just touched it with
0:55:37 > 0:55:40a bit of paint, I think they have spent less than £200.
0:55:41 > 0:55:45Well, 71 grand was the purchase price at auction
0:55:45 > 0:55:49and £200 spent takes it to £71,200.
0:55:49 > 0:55:52But keeping the cost down doesn't always pay dividends.
0:55:53 > 0:55:56What do two local property experts think?
0:56:00 > 0:56:03It's my first time here at the property and I think the
0:56:03 > 0:56:04property is absolutely fine.
0:56:04 > 0:56:06If it's for the rental market,
0:56:06 > 0:56:07I think it does exactly what it
0:56:07 > 0:56:10says it does and it's absolutely fine for that market.
0:56:10 > 0:56:14The property is very much as we saw it the first time, which is
0:56:14 > 0:56:16slightly disappointing.
0:56:17 > 0:56:21I would have expected some of the rooms to be painted to
0:56:21 > 0:56:26enhance, but...it is what it is.
0:56:26 > 0:56:29I think the leaning wonkiness could put some people off.
0:56:29 > 0:56:31It does give quite a strange sensation when you're
0:56:31 > 0:56:34walking around the property.
0:56:34 > 0:56:37And that wonkiness would be a potential concern when
0:56:37 > 0:56:39putting the house on the resale market.
0:56:39 > 0:56:43But even so, Abdul is actually keen for the investor to sell this
0:56:43 > 0:56:46house on, but they've opted to rent it out.
0:56:46 > 0:56:50So is that the right decision for their £71,200 investment?
0:56:52 > 0:56:53On the sales market, I feel it would achieve
0:56:53 > 0:56:57a price in the region of £95,000.
0:56:57 > 0:57:00I would have thought on the current sales market, an asking price
0:57:00 > 0:57:03of £85,000 would be appropriate.
0:57:03 > 0:57:07Probably to secure a sale, somewhere in the region of £80,000.
0:57:07 > 0:57:11We've had a valuation close to £100,000.
0:57:11 > 0:57:13We have advised the investor to sell it for £100,000, but
0:57:13 > 0:57:16he has decided to hold it for a couple of years and rent it
0:57:16 > 0:57:19out and re-evaluate, then sell it.
0:57:19 > 0:57:22Interesting. It does potentially mean that would be
0:57:22 > 0:57:25a very quick pre-tax profit of 24 grand.
0:57:25 > 0:57:28But what about the all-important rental?
0:57:31 > 0:57:34On the rental market, I would expect to achieve in the region of
0:57:34 > 0:57:38between 475 and £500 per calendar month.
0:57:38 > 0:57:41I would anticipate a monthly rent being achieved somewhere in
0:57:41 > 0:57:44the region of 480-£500 per calendar month.
0:57:44 > 0:57:47There's a few viewings that have taken place and we have
0:57:47 > 0:57:50achieved £550.
0:57:50 > 0:57:54Well, with Abdul securing a tenant for £550 per calendar month,
0:57:54 > 0:57:58he has achieved over a 9% yield for his investor which is
0:57:58 > 0:58:00a good return in anyone's book.
0:58:00 > 0:58:05- So what's next for him?- We have snapped another property at 135,000.
0:58:05 > 0:58:07That's a rundown property.
0:58:07 > 0:58:10We tend to spend about 30,000 for the investor and put it back
0:58:10 > 0:58:12on the market for resale.
0:58:15 > 0:58:17Well, that's it for today's show. What do you think?
0:58:17 > 0:58:20Did it make you want to go to the auctions?
0:58:20 > 0:58:22Well, you don't have to, because we have got plenty more stories.
0:58:22 > 0:58:25So join us here for more Homes Under The Hammer next time.
0:58:25 > 0:58:26- See you.- Goodbye.- Goodbye.