0:00:02 > 0:00:03Welcome to the show.
0:00:03 > 0:00:05As everyone knows, the property market can go down as well as up.
0:00:05 > 0:00:08Sometimes you just have to make your own decisions
0:00:08 > 0:00:09and trust your instincts.
0:00:09 > 0:00:12Yes, the best way to find out how the property market is doing
0:00:12 > 0:00:14is to check it yourself.
0:00:14 > 0:00:17Another way is to pop down to your local property auction.
0:00:43 > 0:00:46All manner of properties go up for auction every month.
0:00:46 > 0:00:50There are thousands of them, from studio flats to country mansions.
0:00:50 > 0:00:54Yes, so you can be bewildered by the choice.
0:00:54 > 0:00:57But the buyers on today's show weren't. Let's see what they bought.
0:00:58 > 0:01:03In Kent, Lucy feels this auction lot might be a step too far for her.
0:01:03 > 0:01:07It's a bit of a jungle, and I'm not wearing the right footwear.
0:01:08 > 0:01:11Whereas I don't have to look too far for the issues
0:01:11 > 0:01:13in this Birmingham house.
0:01:13 > 0:01:19Before I even get to the top step I can see there's quite a big crack.
0:01:19 > 0:01:23But for me, the path is less clear on how to tackle the bathroom
0:01:23 > 0:01:24in a Cornish cottage.
0:01:24 > 0:01:26Why? Why's it there?
0:01:26 > 0:01:28I need to figure out a solution to this.
0:01:30 > 0:01:33All these properties have been sold at auction,
0:01:33 > 0:01:35and we'll find out who bought them and what they paid
0:01:35 > 0:01:37when they went under the hammer.
0:01:37 > 0:01:39You kept with it. Well done, sir.
0:01:42 > 0:01:46The cathedral city of Canterbury in Kent is one of the most visited cities
0:01:46 > 0:01:51in the UK and is a Unesco World Heritage Site.
0:01:51 > 0:01:54But Lucy's destination, six miles outside the city,
0:01:54 > 0:01:57is one you might not be so familiar with.
0:01:57 > 0:01:59This is the village of Upstreet.
0:01:59 > 0:02:04Now, it emerged as a ribbon development along the main road, the A28,
0:02:04 > 0:02:06which connects it with Canterbury.
0:02:09 > 0:02:12A ribbon development is one that's formed along a transport route,
0:02:12 > 0:02:15so it might be a railway line, canal,
0:02:15 > 0:02:18or a ye olde stagecoach route,
0:02:18 > 0:02:19or in this case, a main road.
0:02:19 > 0:02:23However, this kind of development fell out of favour with planners,
0:02:23 > 0:02:26hence the advent of green-belt policies.
0:02:28 > 0:02:31So you might have guessed the property I'm here to see
0:02:31 > 0:02:33is on a very busy main road,
0:02:33 > 0:02:37and it has no parking or front garden,
0:02:37 > 0:02:39so there's no getting away from the noise.
0:02:39 > 0:02:42But it's this cute little two-bed cottage
0:02:42 > 0:02:47and it went to auction with a guide price of £120 to £125,000.
0:02:47 > 0:02:51Hopefully it will be right up my street on the inside.
0:02:55 > 0:02:57OK, not quite what I was expecting on the inside.
0:02:57 > 0:03:01There's a missing floorboard there, for starters.
0:03:01 > 0:03:04Anyway, looks like the work may have already started.
0:03:04 > 0:03:06Look.
0:03:06 > 0:03:09Very small...and, erm, cosy? Could it be a good thing?
0:03:09 > 0:03:13It's a little cottage, it could be fantastic in the winter months.
0:03:13 > 0:03:15What I do like, though, are these rather wide floorboards.
0:03:15 > 0:03:17They would look lovely if they were sanded.
0:03:17 > 0:03:20So you could bring a little bit of character back into here
0:03:20 > 0:03:23and you've got these lovely old latch doors.
0:03:23 > 0:03:26They're so romantic, with that nice latchkey noise.
0:03:26 > 0:03:27I do like those.
0:03:27 > 0:03:30Walking through the corridor... That's not so beautiful -
0:03:30 > 0:03:33so obviously somebody's going to be using that.
0:03:33 > 0:03:34In here we've got the bathroom.
0:03:34 > 0:03:37There's no door. It's all been pulled apart.
0:03:37 > 0:03:39The plumbing looks like it's in a right old mess,
0:03:39 > 0:03:40so that needs to be sorted out.
0:03:40 > 0:03:44You've got the little stairs that lead up there,
0:03:44 > 0:03:48and through into the kitchen. Now, this is a bit of a bigger space.
0:03:48 > 0:03:52Nice and bright and sunny, which I like, but in a right mess.
0:03:52 > 0:03:54The units all need to be ripped out.
0:03:54 > 0:03:57You can see, I think half of them have been ripped out.
0:03:57 > 0:04:00A lovely new kitchen could be put in place and it will be nice,
0:04:00 > 0:04:03so, you know, you can't hear the noise too much when you're inside.
0:04:03 > 0:04:05I'd say it's a little bit small, but cosy.
0:04:05 > 0:04:09After all, it's a cottage, and it's very near to Canterbury.
0:04:09 > 0:04:14So, earplugs not required, but a kitchen sink most definitely is.
0:04:17 > 0:04:20And really, we can't recommend a bathroom door enough.
0:04:22 > 0:04:25Upstairs, the back bedroom also seems to be missing
0:04:25 > 0:04:27a few vital ingredients.
0:04:27 > 0:04:29Not only a door and a windowsill,
0:04:29 > 0:04:32but more importantly in this case, a wall.
0:04:32 > 0:04:34That's not good from a health-and-safety point of view.
0:04:36 > 0:04:37Next door...is there one?
0:04:37 > 0:04:42A door, I mean. Yes, a master bedroom and that's it.
0:04:42 > 0:04:43It's very bijou.
0:04:43 > 0:04:45That's polite for tiny.
0:04:45 > 0:04:47And there's no room to move the bathroom up here,
0:04:47 > 0:04:49so downstairs it will stay.
0:04:51 > 0:04:53So outside sounds promising,
0:04:53 > 0:04:56the birds are tweeting, the sun is shining,
0:04:56 > 0:05:00I'm told there's a very nice garden out here with a spectacular view at
0:05:00 > 0:05:03the end. And I would...but, no, I'm not going to,
0:05:03 > 0:05:09because it's a bit of a jungle, and I'm not wearing the right footwear.
0:05:09 > 0:05:11The wrong shoes?!
0:05:11 > 0:05:13What an excuse, Lucy.
0:05:13 > 0:05:15Well, it's tough, but someone's got to do it,
0:05:15 > 0:05:18and is this garden overgrown?
0:05:18 > 0:05:20Oh, boy, yes, it is.
0:05:20 > 0:05:23# Welcome to the jungle We got fun and games
0:05:23 > 0:05:27# We got everything you want Honey, we know the names... #
0:05:27 > 0:05:31Bit over the top, that. We asked along the local estate agent
0:05:31 > 0:05:34to find out if he was wild about this cottage,
0:05:34 > 0:05:36guided at 120 to 125,000.
0:05:36 > 0:05:39It's a really nice property. It's very typical of its type.
0:05:39 > 0:05:42There's no real issues with the bathroom being on the ground floor,
0:05:42 > 0:05:44people expect that for this type of property.
0:05:44 > 0:05:47The back garden's lovely. I know it's very overgrown at the moment,
0:05:47 > 0:05:48but the neighbouring gardens are lovely.
0:05:48 > 0:05:51You've got a lovely field view, countryside to the rear,
0:05:51 > 0:05:54southerly facing, so it'll appeal to a lot of people.
0:05:54 > 0:05:56It certainly doesn't sound like this house
0:05:56 > 0:05:58needs any major layout changes,
0:05:58 > 0:06:01and it has some very appealing selling points.
0:06:01 > 0:06:04So what could it be worth once renovated?
0:06:04 > 0:06:08Once renovated, this property could sell for £175,000 as a guide price,
0:06:08 > 0:06:10to gain close to that asking price,
0:06:10 > 0:06:14and on the rental market between £850 and £900 per calendar month.
0:06:15 > 0:06:18Well, this cottage needs plenty of work
0:06:18 > 0:06:21to bring it back to the 21st century, but with all that done,
0:06:21 > 0:06:24well, I think it could be a really cute little home for somebody,
0:06:24 > 0:06:28especially when you can actually SEE those views out the back!
0:06:28 > 0:06:31Who agreed? Let's head to auction and find out.
0:06:33 > 0:06:35Let's see if this whets your appetite.
0:06:35 > 0:06:37It's a two-bedroomed cottage for improvement.
0:06:37 > 0:06:38It's got rural views.
0:06:38 > 0:06:40Can I see 120 for it?
0:06:40 > 0:06:42120.
0:06:42 > 0:06:44Give me 110, then. 110, I'm on the way.
0:06:44 > 0:06:46110, 115 bid.
0:06:46 > 0:06:49115. 120 if you like.
0:06:49 > 0:06:52120. And five, 125 do I say?
0:06:52 > 0:06:56At £120,000 bid I've got, 125 I want.
0:06:56 > 0:06:58125 sitting down, 130, and five?
0:06:58 > 0:07:00135, and 40.
0:07:00 > 0:07:03140, and five?
0:07:03 > 0:07:05Yes? 145?
0:07:05 > 0:07:07No. With you at 140, then, sir.
0:07:07 > 0:07:09140. And five anywhere else?
0:07:09 > 0:07:11145 anywhere else?
0:07:11 > 0:07:13140,000 first time,
0:07:13 > 0:07:14140 second,
0:07:14 > 0:07:17third and final time, at £140,000...
0:07:17 > 0:07:20Yours, sir, at 140.
0:07:20 > 0:07:24The successful bid, of 140,000, came from Doric, on the left,
0:07:24 > 0:07:27who was at the auction with his builder, Ken.
0:07:30 > 0:07:35Regular viewers of the show may remember Doric from 2007,
0:07:35 > 0:07:38when Lucy met him after buying a property in Margate.
0:07:38 > 0:07:40Doric and Ken, congratulations.
0:07:40 > 0:07:42Now, Doric, we have met before, haven't we?
0:07:42 > 0:07:43- Hello, Ken.- We have, yes.
0:07:43 > 0:07:46So a property many, many, many moons ago.
0:07:46 > 0:07:50A long time ago, yeah, when I was a bit younger than I am now, but...
0:07:50 > 0:07:52And here you are, buying at auction again,
0:07:52 > 0:07:54- and you brought Ken along today, your builder.- Yeah,
0:07:54 > 0:07:57I've got to have someone who knows what he's doing along there
0:07:57 > 0:08:00to make sure I don't do anything silly. So that's why Ken comes in.
0:08:00 > 0:08:04So tell me what made you want to buy this property in Upstreet.
0:08:04 > 0:08:07We found a gap, because we've got quite a few rentals and we've seen...
0:08:07 > 0:08:09we're getting to a stage where we've almost caught up,
0:08:09 > 0:08:12so we thought, the market's looking good,
0:08:12 > 0:08:14we'll get something that doesn't need too much
0:08:14 > 0:08:18that we can do reasonably quickly to keep us...keep us going.
0:08:18 > 0:08:21We were just looking through the auction and we saw this one.
0:08:21 > 0:08:23We nearly missed it.
0:08:23 > 0:08:26We got waylaid because they had bacon sandwiches and coffee, I think.
0:08:26 > 0:08:28Never get waylaid by bacon sandwiches and coffee,
0:08:28 > 0:08:31that's the first rule of an auction room.
0:08:31 > 0:08:34So we were sitting there and then Ken said, "Is that the house?"
0:08:34 > 0:08:36I said, "No, we've got ages yet."
0:08:36 > 0:08:38Then we thought, "Oh, no, that might be,"
0:08:38 > 0:08:40so we actually had to run into the place
0:08:40 > 0:08:44- with our hand raised as we went in.- No!- Dear, oh, dear.
0:08:44 > 0:08:47So really, really making a big scene. Good job you got it.
0:08:47 > 0:08:50- Yeah.- Ken, can I ask you, how nice was the bacon sandwich?
0:08:50 > 0:08:53- Very nice, actually. - Was it worth it?- Yeah.- Good.
0:08:53 > 0:08:55And the tea was nice.
0:08:55 > 0:08:58Never come between a builder and his tea.
0:08:58 > 0:09:00Not even at the auction.
0:09:00 > 0:09:04Doric is hoping that Ken will turn this one around for him to sell on
0:09:04 > 0:09:06while the market is favourable.
0:09:06 > 0:09:08They've been teamed up for the last year-and-a-half.
0:09:08 > 0:09:12Ken is Doric's right handyman when it comes to looking after
0:09:12 > 0:09:15a pretty substantial rental portfolio.
0:09:15 > 0:09:18- This is 22, yeah.- 22!- Yeah.
0:09:18 > 0:09:22Can I just say, everybody needs a Ken. When you've got 22 properties you need a Ken.
0:09:22 > 0:09:24It is, there's a lot of work.
0:09:24 > 0:09:26Ken's only 18, look at the state of him.
0:09:26 > 0:09:29So we keep him working well.
0:09:29 > 0:09:33So, Ken, you're the man that gets the phone call in the middle of the night if something goes wrong.
0:09:33 > 0:09:34- That's it, yeah.- Fantastic.
0:09:34 > 0:09:37"I've got a little problem, can you sort it out for me?"
0:09:37 > 0:09:40So, Doric, what sort of budget have you got here?
0:09:40 > 0:09:43Er, we put a nice contingency in
0:09:43 > 0:09:46that I think with a bit of luck we won't
0:09:46 > 0:09:48have to use, so we kind of say 15,
0:09:48 > 0:09:53then we hope it's going to be more drifting towards the 10 to 11,
0:09:53 > 0:09:55so if we don't use contingency.
0:09:55 > 0:10:00So we think 15, but probably a little bit less with a bit of luck.
0:10:00 > 0:10:03So what are you going to do to really sell this place?
0:10:03 > 0:10:06Because at the moment the kitchen is awful, the bathroom's...
0:10:06 > 0:10:08There isn't really a door on the bathroom, I noticed!
0:10:08 > 0:10:10There's not many doors or walls up.
0:10:10 > 0:10:13So tell me how you're going to sell it to somebody.
0:10:13 > 0:10:14Well, we've got to keep the budget down,
0:10:14 > 0:10:17so we're not going to put the door on the toilet back.
0:10:17 > 0:10:19- What?!- We'll leave that one there.
0:10:19 > 0:10:24It's a small place, straightforward refurb, I think.
0:10:24 > 0:10:28Views are nice, Canterbury is quite a nice place,
0:10:28 > 0:10:31so it should be a fairly straightforward in-and-out,
0:10:31 > 0:10:33in-and-out refurb.
0:10:33 > 0:10:37So they have a budget of £15,000 and a timescale of eight weeks to
0:10:37 > 0:10:39complete the work, which will include a new kitchen,
0:10:39 > 0:10:42new bathroom and central-heating system.
0:10:42 > 0:10:47So no surprises, but it turns out Ken might have one up his sleeve,
0:10:47 > 0:10:51as his speciality is to light up the room.
0:10:51 > 0:10:55He's the LED man. It's brilliant, it's like Santa's grotto sometimes.
0:10:55 > 0:10:59- Fantastic.- So have you got anybody that's going to help you with this,
0:10:59 > 0:11:01apart from of course the gorgeous Ken here?
0:11:01 > 0:11:03Yeah, Ken does the work.
0:11:03 > 0:11:06Sometimes I use people in the family to help out.
0:11:06 > 0:11:10My son Sebastian is quite interested, so he's quite good.
0:11:11 > 0:11:15He tends to turn up and come up with very inappropriate suggestions.
0:11:15 > 0:11:20I did use the wife before, but she's not very good with the budget.
0:11:20 > 0:11:23We sent her out a short while ago to get some kitchen appliances
0:11:23 > 0:11:27and she came back with a designer handbag that was less adequate
0:11:27 > 0:11:32for knocking up lunch than we'd hoped for, but she seemed to think that was quite good,
0:11:32 > 0:11:33so we're now using Sebastian.
0:11:33 > 0:11:36OK, so the wife's been demoted.
0:11:36 > 0:11:38Son has been promoted.
0:11:38 > 0:11:41So in all seriousness, is he going to follow in Dad's footsteps, do you think?
0:11:41 > 0:11:44- Is it something he's interested in? - Yeah, he's thinking about it.
0:11:44 > 0:11:49He wants to go to university and go into civil engineering and, yeah,
0:11:49 > 0:11:53- we hope so.- OK, you two, I'm really excited to see the outcome of this.
0:11:53 > 0:11:56It's going to be brilliant to see what it looks like when it's done,
0:11:56 > 0:11:58and those lovely LED lights.
0:11:58 > 0:12:01- Yeah, lovely.- Good luck, Doric, I hope it's not too long for next time.
0:12:01 > 0:12:06- Thank you. Lovely to see you again. - And you, Ken, well done, thank you.
0:12:06 > 0:12:09Doric is an experienced property developer, and for him, well,
0:12:09 > 0:12:12this seems like a straightforward little project,
0:12:12 > 0:12:15especially with builder Ken already on board.
0:12:15 > 0:12:16But most importantly,
0:12:16 > 0:12:20will there be a decent profit at the end of it all?
0:12:20 > 0:12:24You can join me at the end of the programme to find out how they get on.
0:12:27 > 0:12:31Next, we are in Birmingham - well, Yardley to be more precise.
0:12:31 > 0:12:35In contrast to the city's constantly developing modern centre,
0:12:35 > 0:12:37this suburb, a few miles east,
0:12:37 > 0:12:40boasts quiet leafy streets and a historic village.
0:12:42 > 0:12:44Here you can find protected buildings
0:12:44 > 0:12:47dating back to the 16th century,
0:12:47 > 0:12:51including this old school, which was built in 1512.
0:12:51 > 0:12:54Today's property, however, doesn't date that far back.
0:12:54 > 0:12:58So on this very typical and traditional terraced street,
0:12:58 > 0:13:02which isn't too far from the city centre, and Villa Park,
0:13:02 > 0:13:06where I spent six very happy years, is the property I'm here to see.
0:13:06 > 0:13:08Now, it's a semidetached house,
0:13:08 > 0:13:13it's got three bedrooms and a guide price of £70,000.
0:13:13 > 0:13:15I'm going in.
0:13:20 > 0:13:24OK. Into the hallway.
0:13:24 > 0:13:27Done out in a lovely shade of lime green.
0:13:27 > 0:13:30Reception room one, lots of colour going on in there.
0:13:30 > 0:13:34Lime-green carpet, you've got pink and red walls, blue picture rail.
0:13:34 > 0:13:35You've got a fireplace in here,
0:13:35 > 0:13:38old-fashioned fireplace on a bit of a skewwhiff,
0:13:38 > 0:13:39taking up a bit of space.
0:13:39 > 0:13:41Not a bad size, though.
0:13:41 > 0:13:44Reception room two is a similar size as well.
0:13:44 > 0:13:46Hasn't been touched in a while, taking a guess.
0:13:46 > 0:13:48You've got polystyrene tiles.
0:13:48 > 0:13:51This is all old-fashioned-type decor
0:13:51 > 0:13:55and you've also got a fireplace in here which is on the skewwhiff.
0:13:55 > 0:13:59So I'd look into maybe taking both fireplaces out,
0:13:59 > 0:14:01the one in that room and the one in this one.
0:14:01 > 0:14:03What else am I going to find?
0:14:03 > 0:14:07Further down the hallway, stairs up to the bedrooms.
0:14:08 > 0:14:12A little downstairs cupboard/pantry area under the stairs,
0:14:12 > 0:14:15with a window, actually, looking outside.
0:14:15 > 0:14:18In here we've got a bath and...
0:14:18 > 0:14:22bath and a sink, but no toilet.
0:14:22 > 0:14:25Through into the kitchen.
0:14:25 > 0:14:28Tiny. Very, very small kitchen.
0:14:28 > 0:14:33Very old-fashioned, some really nice old-fashioned touches.
0:14:33 > 0:14:35And there's the toilet, right at the end.
0:14:35 > 0:14:38There's got to be a better way of using this space.
0:14:38 > 0:14:43Could you get that toilet from there and relocate it into the bathroom?
0:14:43 > 0:14:46Got to be a way of doing that. This is a wasted space.
0:14:46 > 0:14:51Make this a big kitchen/dining area, lots of light, lots of brightness.
0:14:51 > 0:14:55Modernise everything in the whole of this downstairs.
0:14:55 > 0:14:58There's a lot of work that needs to be done here.
0:14:58 > 0:15:01Before I pop upstairs to have a look at one of the bedrooms,
0:15:01 > 0:15:05it's a good time to appreciate the narrow footprint of this house.
0:15:05 > 0:15:08With one long passageway from front to back,
0:15:08 > 0:15:11there is a stretched-out feeling to this place.
0:15:11 > 0:15:14Looking outside in the back, you might not believe it,
0:15:14 > 0:15:17but this undergrowth isn't the end of the garden.
0:15:17 > 0:15:21It actually extends a further 20 metres beyond this point.
0:15:21 > 0:15:25That's enough for a full end cricket wicket.
0:15:25 > 0:15:27# I don't like cricket... #
0:15:27 > 0:15:32But I've found an overgrown stump which is way too close for comfort.
0:15:32 > 0:15:35Right, this house has been empty for some time now.
0:15:35 > 0:15:39That has grown since this house has been empty,
0:15:39 > 0:15:41which I think is about ten years.
0:15:41 > 0:15:44Look at the damage that the roots have done down here.
0:15:44 > 0:15:47And the roots won't only be coming this way.
0:15:47 > 0:15:51They'll be going that way, too, into the foundation of the house.
0:15:51 > 0:15:55Priority out here, get rid of that before that starts moving.
0:15:55 > 0:15:58Don't be tempted to knock this one for six yourself.
0:15:58 > 0:16:02With it growing so near to the house it would be easy to get caught out,
0:16:02 > 0:16:07so get a fully insured professional tree surgeon to do the job for you.
0:16:07 > 0:16:10Anything else just isn't cricket.
0:16:10 > 0:16:12Right, upstairs.
0:16:12 > 0:16:14OK, let's see what we've got upstairs.
0:16:16 > 0:16:19OK, before I even get to the top step
0:16:19 > 0:16:24I can see there's quite a big crack on the landing, just there,
0:16:24 > 0:16:26and I can see in that corner there
0:16:26 > 0:16:28there's some really bad water damage.
0:16:28 > 0:16:31That looks like it may have come from the roof,
0:16:31 > 0:16:34the guttering somehow, but that's quite severe.
0:16:34 > 0:16:37Get both of those sorted, get the pros in to look at that.
0:16:37 > 0:16:41The bedrooms are, as you might expect, very old-fashioned,
0:16:41 > 0:16:43and in need of complete modernisation.
0:16:43 > 0:16:46There's an upstairs loo, so that's a start,
0:16:46 > 0:16:50but there would need to be a clever rejig to get a bathroom up here.
0:16:50 > 0:16:53For what the house lacks in central heating
0:16:53 > 0:16:55it certainly makes up for with quirky heaters.
0:16:55 > 0:17:02# I'm just a bit old-fashioned and I can't help living that way... #
0:17:02 > 0:17:05As pretty as it is, that's got to go.
0:17:05 > 0:17:07Get some central heating in here.
0:17:07 > 0:17:09And we've got double-glazed windows in here,
0:17:09 > 0:17:13and I did notice those double-glazed windows in the front room as well.
0:17:13 > 0:17:17Every other window would need to be changed to double-glazed.
0:17:17 > 0:17:20Bit of money to be spent here.
0:17:20 > 0:17:21But I like it.
0:17:21 > 0:17:25It's basically a good house, if you can see past the neglect.
0:17:25 > 0:17:28But is there any profit to be made here,
0:17:28 > 0:17:30bearing in mind that guide price of 70 grand?
0:17:30 > 0:17:33We asked along an agent from the auctioneer's who sold it
0:17:33 > 0:17:35to give us his thoughts.
0:17:35 > 0:17:38My first impressions of the property are...
0:17:38 > 0:17:41wow, it wants a lot of work doing to it!
0:17:42 > 0:17:44I think it's basically sound.
0:17:44 > 0:17:46It's a good-sized property,
0:17:46 > 0:17:49in the sense that you've got three bedrooms upstairs.
0:17:49 > 0:17:52To get the property back onto the market,
0:17:52 > 0:17:54I would imagine one's going to spend
0:17:54 > 0:17:58something between £20,000 and £25,000.
0:17:59 > 0:18:04That's a fairly substantial sum, so what could it sell for?
0:18:04 > 0:18:07If the property is all modernised, got a nice big kitchen,
0:18:07 > 0:18:11I would imagine that it would be somewhere between
0:18:11 > 0:18:16£115,000 and £120,000.
0:18:16 > 0:18:20Hm, so if you paid the 70-grand guide and spent 25,
0:18:20 > 0:18:22there could be a bit of profit,
0:18:22 > 0:18:25but there's not a lot of room for manoeuvre
0:18:25 > 0:18:27if any serious issues were to occur.
0:18:27 > 0:18:29What about rental?
0:18:29 > 0:18:32If the property's done up to a reasonable standard,
0:18:32 > 0:18:35as a rental, I would imagine somebody would pay
0:18:35 > 0:18:39somewhere between £500 and £550 per calendar month.
0:18:39 > 0:18:42Right, let's not gloss over the fact there's a lot of work that needs to
0:18:42 > 0:18:45be done in there and in that back garden as well.
0:18:45 > 0:18:48The cracks and the damp do concern me,
0:18:48 > 0:18:52but apart from that I do think this is a good project to get hold of.
0:18:52 > 0:18:56Somebody's bought it. Let's find out who, when it went under the hammer.
0:18:57 > 0:19:00First of our lots for Birmingham Council,
0:19:00 > 0:19:04it is a vacant three-bedroomed semidetached house.
0:19:04 > 0:19:06Where shall we start, folks?
0:19:06 > 0:19:09At 50, is that, sir? Do you have a draft with you?
0:19:09 > 0:19:12You do. Thank you. At 50 I'm bid, is it 60 now?
0:19:12 > 0:19:13Thank you, at 60.
0:19:13 > 0:19:1570, sir? Five, then?
0:19:15 > 0:19:1865, 65, 70?
0:19:18 > 0:19:2070, madam?
0:19:20 > 0:19:22Thank you. At 70, at 70.
0:19:22 > 0:19:26Sir, I want you to have it as well, is it 75? Two. 72.
0:19:26 > 0:19:28Madam, 74?
0:19:28 > 0:19:3074, 76?
0:19:30 > 0:19:3278? 78.
0:19:32 > 0:19:3580? 82? 84?
0:19:35 > 0:19:3886? 88?
0:19:38 > 0:19:3990?
0:19:39 > 0:19:43No. You've been a great bidder, madam, we'll try and find you something else.
0:19:43 > 0:19:47But with you, sir, £88,000.
0:19:47 > 0:19:48One, two, three.
0:19:49 > 0:19:52Sold in front of me, 88,000, well done.
0:19:52 > 0:19:54Congratulations and the best of luck.
0:19:56 > 0:19:59Making that successful bid of 88 grand was Golam.
0:19:59 > 0:20:01He's been on the show before,
0:20:01 > 0:20:07when in 2015 he refurbished this auction purchase in Birmingham.
0:20:08 > 0:20:11I met him back at the house to find out his plans for this one.
0:20:11 > 0:20:14- Golam, it's good to see you again, sir.- Good to meet you again, Dion.
0:20:14 > 0:20:16- Congratulations.- Thank you, sir.
0:20:16 > 0:20:18Er, tell us why this particular house.
0:20:18 > 0:20:21It was lot number one and most people don't bid on lot number one,
0:20:21 > 0:20:24so I thought I'd go in first and I was lucky enough to get it.
0:20:24 > 0:20:26Is it what you do all the time, do you go to the auction house
0:20:26 > 0:20:28and think, "I want to get lot number one," or...?
0:20:28 > 0:20:32No, with lot number one, you normally see a lot less demand for it,
0:20:32 > 0:20:35because the auction has just started and they don't know which way
0:20:35 > 0:20:37it's going to go, whether prices have dropped or increased,
0:20:37 > 0:20:39so you're taking a gamble on it.
0:20:39 > 0:20:42You've now got it. What was it about this house that made you think,
0:20:42 > 0:20:44"I really want it"?
0:20:44 > 0:20:47- It's very close to my office and I can sort of... - LAUGHTER
0:20:47 > 0:20:51..sort of manage the project really more closely, to be fair with you.
0:20:51 > 0:20:54OK. What were your ideas when you've first seen this house,
0:20:54 > 0:20:57"I'll buy it to live in, I'll buy it to rent," what were you thinking?
0:20:57 > 0:21:00No, well, I'm a seasoned developer,
0:21:00 > 0:21:03so basically I'm going to refurbish it and put it back on the market.
0:21:03 > 0:21:05OK, so what is your day job away from property, then?
0:21:05 > 0:21:08- I'm an estate agent.- OK, and do you have a bit of an insight there,
0:21:08 > 0:21:10- know what to go for?- I do know what to go for,
0:21:10 > 0:21:12but on the rental side I keep away,
0:21:12 > 0:21:14because I manage a lot of people's properties
0:21:14 > 0:21:16and I see what happens when you go back after 12 months.
0:21:16 > 0:21:20- OK.- So I'd rather just refurbish them and put them back on the market.
0:21:20 > 0:21:23Golam doesn't want the hassle of having to keep refurbishing and
0:21:23 > 0:21:25maintaining his own rental properties,
0:21:25 > 0:21:29so his current business model is to sell as quickly as possible.
0:21:29 > 0:21:32So give us a bit of insight into what you're going to do to this property.
0:21:32 > 0:21:35Well, with this property I'll refurbish it top to bottom.
0:21:35 > 0:21:38I'm going to put in new windows,
0:21:38 > 0:21:41new electrics, new kitchen, new bathroom,
0:21:41 > 0:21:43pretty much everything, re-plaster,
0:21:43 > 0:21:45and the house has been empty for maybe ten, 15 years,
0:21:45 > 0:21:47so it does really need an upgrade.
0:21:47 > 0:21:49You've got a bit of space out the back.
0:21:49 > 0:21:51You could play with the kitchen, you've got an outside toilet too.
0:21:51 > 0:21:54Are you going to use it, are you going to change it?
0:21:54 > 0:21:57Yeah, well, I'm going to... The outside toilet,
0:21:57 > 0:22:00I'm going to knock it all out and make it into a kitchen/diner,
0:22:00 > 0:22:04and put a bathroom downstairs as well, and maybe a bathroom upstairs as well.
0:22:04 > 0:22:06How are you going to squeeze in a bathroom?
0:22:06 > 0:22:10What we're planning to do is steal a bit of the third bedroom and then put the bathroom in.
0:22:10 > 0:22:12How much is all that going to cost you? Your budget?
0:22:12 > 0:22:15I'm hoping to do it within £10 to 12,000.
0:22:15 > 0:22:17Really? From top to bottom?
0:22:17 > 0:22:18Top to bottom.
0:22:20 > 0:22:23A pretty slim budget for a pretty slim house,
0:22:23 > 0:22:28but Golam has lots of renovation experience and reckons he's turned
0:22:28 > 0:22:31around about 50 properties in his career.
0:22:31 > 0:22:33This one is a former Birmingham City Council house
0:22:33 > 0:22:36and there's an incentive attached to the lease.
0:22:37 > 0:22:38The clause on the lease stipulates
0:22:38 > 0:22:41that I need to refurbish this property within 12 months
0:22:41 > 0:22:44and once I've refurbished it they'll offer me the freehold.
0:22:44 > 0:22:47If we don't refurbish it, then they won't be offering us the freehold.
0:22:47 > 0:22:51What is it all about? What's the reason behind their decision to do that?
0:22:51 > 0:22:54That's the initiative taken by Birmingham City Council
0:22:54 > 0:22:55to bring derelict properties into use,
0:22:55 > 0:22:59because there's so many empty properties in the city and they just don't
0:22:59 > 0:23:01want someone to buy it and just sit on it again.
0:23:01 > 0:23:05On that note, how long is it going to take you to do the job? What's your timescale for this?
0:23:05 > 0:23:08Timescale is two months, but you probably won't believe me.
0:23:08 > 0:23:09- Really?- Yes.
0:23:09 > 0:23:11Two months, in between ten and 12 grand?
0:23:11 > 0:23:12- Yes.- All done, finished?
0:23:12 > 0:23:14All done and dusted.
0:23:14 > 0:23:16I spotted... I don't want to worry you,
0:23:16 > 0:23:18I spotted some very slight bits of damp as well.
0:23:18 > 0:23:21A little bit of cracking as well. Do you know what that's down to?
0:23:21 > 0:23:25- I mean, the damp's probably...the guttering needs cleaning up.- OK.
0:23:25 > 0:23:29The cracking, I'll have to get a surveyor in, to be fair with you.
0:23:29 > 0:23:31- Get the pros out.- Yeah.- Get it sorted.
0:23:31 > 0:23:35- Get it sorted.- Get the place watertight.- That's right!- You know, you've done it many times.
0:23:35 > 0:23:39- Yeah.- I'm pretty sure this one will be a success, as your other properties have been, too.
0:23:39 > 0:23:41Thank you very much. It's been nice meeting you again, Dion,
0:23:41 > 0:23:45- and I hope you have all the best as well.- Good man. Thank you very much. - Thank you.
0:23:45 > 0:23:49OK, now, I know that Golam has got loads of experience in turning
0:23:49 > 0:23:51properties like these around,
0:23:51 > 0:23:53but he's pushing the boundaries this time.
0:23:53 > 0:23:55Two months and 10 to 12 grand?
0:23:57 > 0:24:00I'm not too sure. That's a little bit tight for my liking,
0:24:00 > 0:24:03but you can find out how he gets on later in the programme.
0:24:05 > 0:24:08Coming up - in Cornwall, I have a layout puzzle to solve.
0:24:09 > 0:24:11The answer could be upstairs.
0:24:15 > 0:24:18And in Birmingham, was Golam's refurbishment money well spent?
0:24:18 > 0:24:22I always underestimate, for some strange reason,
0:24:22 > 0:24:24but I did go over budget.
0:24:27 > 0:24:30But first, we return to the village of Upstreet,
0:24:30 > 0:24:33six miles from the cathedral city of Canterbury,
0:24:33 > 0:24:36where Lucy saw this little cottage on this rather busy road.
0:24:38 > 0:24:40Not much you can do about that,
0:24:40 > 0:24:43but there were definitely some changes needed inside.
0:24:45 > 0:24:46In here we've got the bathroom.
0:24:46 > 0:24:48There's no door, it's all been pulled apart,
0:24:48 > 0:24:51the plumbing looks like it's in a right old mess,
0:24:51 > 0:24:52so that needs to be sorted out.
0:24:53 > 0:24:56Elsewhere, the kitchen needed to be completely ripped out,
0:24:56 > 0:24:59and upstairs was a bit of a building site.
0:25:00 > 0:25:03However, albeit pretty wild,
0:25:03 > 0:25:06the enormous back garden offered some breathtaking country views.
0:25:08 > 0:25:12So it's not hard to see why full-time property developer Doric
0:25:12 > 0:25:16paid £140,000 for this charming little property.
0:25:16 > 0:25:19And Lucy caught up with him and his trusty builder, Ken,
0:25:19 > 0:25:21to see what his plans were for the cottage.
0:25:21 > 0:25:24The kitchen's awful, the bathroom's... Well,
0:25:24 > 0:25:27there isn't really a door on the bathroom, I notice!
0:25:27 > 0:25:29There's not many doors or walls up,
0:25:29 > 0:25:31so tell me how you're going to sell it to somebody.
0:25:31 > 0:25:35Well, we're going to keep the budget down, so we're not going to put the door on the toilet back,
0:25:35 > 0:25:37- we'll leave that one there.- What?
0:25:37 > 0:25:38It's a pretty...
0:25:38 > 0:25:42It's a small place, straightforward refurb, I think.
0:25:42 > 0:25:45Straightforward except for Ken's speciality.
0:25:46 > 0:25:50He's the LED man, it's brilliant, it's like Santa's grotto sometimes,
0:25:50 > 0:25:52it's fantastic.
0:25:52 > 0:25:56So, with an eight-week timescale and a £15,000 budget,
0:25:56 > 0:25:59will we be seeing some sparkle?
0:25:59 > 0:26:05Let's see how it looked when we returned four months later.
0:26:05 > 0:26:09- # Roxanne - Put on the red light
0:26:09 > 0:26:12- # Roxanne - Put on the red light
0:26:12 > 0:26:16- # Roxanne - Put on the red light
0:26:16 > 0:26:19- # Roxanne - Put on the red light... #
0:26:19 > 0:26:24Well, Ken has certainly lived up to expectations with that bespoke LED
0:26:24 > 0:26:29lighting in this stylish monochrome kitchen with high-gloss tiles.
0:26:29 > 0:26:31Here's Doric to tell us more.
0:26:31 > 0:26:34The kitchen's come out very well.
0:26:34 > 0:26:37We always spend a bit of time and effort on the kitchen,
0:26:37 > 0:26:40so we put some very nice integrated appliances in there,
0:26:40 > 0:26:41we hide them away,
0:26:41 > 0:26:45so it's got a nice washing machine in there hidden behind the door.
0:26:45 > 0:26:48I can see Ken's underpants are still in there at the moment,
0:26:48 > 0:26:50perhaps those ought to be removed before the sale.
0:26:50 > 0:26:53An integrated dishwasher.
0:26:53 > 0:26:57As per usual, Ken's excelled himself with the lights.
0:26:57 > 0:27:00He always does very well with lights, and they bounce off the high gloss,
0:27:00 > 0:27:02so, lights, please.
0:27:03 > 0:27:05Looks very nice.
0:27:05 > 0:27:08And in case you think the other rooms are missing out, well,
0:27:08 > 0:27:12the bathroom has had the lighting treatment, too.
0:27:12 > 0:27:15# Purple haze all around... #
0:27:15 > 0:27:19Even better, the bathroom has a door! Highly recommended.
0:27:19 > 0:27:21We weren't going to put a door on the bathroom
0:27:21 > 0:27:23because we thought it had good comedic value,
0:27:23 > 0:27:26but it was pointed out by the surveyor and the agent
0:27:26 > 0:27:29that a door on the bathroom is quite useful.
0:27:29 > 0:27:30Moving upstairs,
0:27:30 > 0:27:33we can see that Doric has rectified those safety issues
0:27:33 > 0:27:35by building a wall,
0:27:35 > 0:27:37and a small landing area to separate the bedrooms,
0:27:37 > 0:27:41which are now both fully decorated and ready to move into.
0:27:45 > 0:27:49Well, we've had to do a reasonable amount of work on the garden.
0:27:49 > 0:27:52One of the things about the house is the view that you get at the back,
0:27:52 > 0:27:54so we put a raised decking area,
0:27:54 > 0:27:58we moved it away from the house, which is a little bit unusual,
0:27:58 > 0:28:02but we put it right at the back of the garden to maximise the view.
0:28:02 > 0:28:04Cut everything down,
0:28:04 > 0:28:06we did find Tarzan of the jungle in residence there
0:28:06 > 0:28:10so he had to go, but, yeah, all looking quite nice now,
0:28:10 > 0:28:13nice little garden, nice view at the back.
0:28:13 > 0:28:16Going from the back to the front, and that reception room has been
0:28:16 > 0:28:19freshened up and given a personal touch.
0:28:19 > 0:28:22So, experienced team Doric and Ken have done a great job,
0:28:22 > 0:28:25but how did they get on?
0:28:25 > 0:28:29I can trust Ken, and, as per usual, he's done very well,
0:28:29 > 0:28:32so very pleased with Ken, he's a top man.
0:28:34 > 0:28:36Ken is definitely a top man
0:28:36 > 0:28:38when it comes to helping Doric stay on budget.
0:28:38 > 0:28:42This lovely transformation has been carried out for £10,500,
0:28:42 > 0:28:45and was completed in the planned eight weeks.
0:28:45 > 0:28:47But did Doric get his hands dirty?
0:28:49 > 0:28:53Doing quite a lot of work on here, I've been coming in, making tea,
0:28:53 > 0:28:55that's quite important on that.
0:28:55 > 0:28:57Sebastian's been doing the garden,
0:28:57 > 0:29:00and I come in and point out if there's anything that needs doing.
0:29:00 > 0:29:02I've been sworn at quite a lot.
0:29:02 > 0:29:04Ken's done a lot of swearing at me,
0:29:04 > 0:29:08and Sebastian's sworn at me even more when I've pointed out anything
0:29:08 > 0:29:11that they've found, so I've actually been doing quite well,
0:29:11 > 0:29:12I think they both love me.
0:29:12 > 0:29:16It would appear that serving the bacon sarnies and tea
0:29:16 > 0:29:20hasn't quite won Ken and Sebastian over, then.
0:29:20 > 0:29:23Time to ask two local estate agents along
0:29:23 > 0:29:25to see if they are suitably impressed
0:29:25 > 0:29:28by Ken, Sebastian and Doric's teamwork.
0:29:28 > 0:29:30It's a cracking property,
0:29:30 > 0:29:32it's not what you'd expect from the outside.
0:29:32 > 0:29:34It's very modern, and it's been well finished.
0:29:34 > 0:29:35I think it's a very nice property,
0:29:35 > 0:29:38it's been finished to a very good standard.
0:29:38 > 0:29:40Good-sized main bedroom,
0:29:40 > 0:29:42good-sized single bedroom,
0:29:42 > 0:29:46and the bathroom and kitchen have been finished to a very high spec.
0:29:46 > 0:29:50In my opinion the selling features is that it's a turnkey property,
0:29:50 > 0:29:53first-time buyers can just come in the property and unpack
0:29:53 > 0:29:54and they're at home.
0:29:54 > 0:29:56The agents are impressed,
0:29:56 > 0:30:01so will Doric's £150,500 investment bring home the bacon?
0:30:01 > 0:30:04I believe this property could achieve somewhere in the region
0:30:04 > 0:30:06of £200,000,
0:30:06 > 0:30:10and rent for £850 to £900 per calendar month.
0:30:10 > 0:30:15This property would sell from between £195,000 and £200,000,
0:30:15 > 0:30:17and for rental purposes,
0:30:17 > 0:30:21it would rent at between £850 and £875
0:30:21 > 0:30:23per calendar month.
0:30:23 > 0:30:27Should Doric achieve that top estimate of 200,000,
0:30:27 > 0:30:31that would mean a pre-tax profit of almost £50,000,
0:30:31 > 0:30:33and if he were to rent the property out,
0:30:33 > 0:30:36he could achieve a yield above 7%.
0:30:36 > 0:30:38So, based on those valuations,
0:30:38 > 0:30:41what does Doric plan to do with the property?
0:30:41 > 0:30:44This has always been a straightforward buy-sell job,
0:30:44 > 0:30:46so this will go back on the market
0:30:46 > 0:30:48and, if you're interested, let me know!
0:30:48 > 0:30:52So, dream team Ken and Doric have done it again,
0:30:52 > 0:30:55but how did Doric get on with his extra helpers?
0:30:56 > 0:31:00Sebastian's been very good, he came down with my other two,
0:31:00 > 0:31:01Alice and Alexander.
0:31:01 > 0:31:04They helped me quite a lot on this,
0:31:04 > 0:31:07they've been very hard-working, industrial people,
0:31:07 > 0:31:10and really, if you believe that, you'll believe anything - they're rubbish!
0:31:10 > 0:31:12And what's next for Doric and Ken?
0:31:14 > 0:31:17I think I deserve a break because coming down here,
0:31:17 > 0:31:20making tea for Ken, you do need a good break,
0:31:20 > 0:31:24so Ken does all the work and I come in there and bring the tea,
0:31:24 > 0:31:26so, really, I think I deserve a nice long break.
0:31:31 > 0:31:33Well, today, I'm in beautiful Cornwall,
0:31:33 > 0:31:36in the little village of Constantine,
0:31:36 > 0:31:39about seven miles south-west of Falmouth.
0:31:39 > 0:31:42It was actually named after St Constantine,
0:31:42 > 0:31:45the Cornish saint, and each year on 9th March,
0:31:45 > 0:31:49they have a big day to celebrate the feast of St Constantine.
0:31:49 > 0:31:53This is a simply gorgeous part of the world.
0:31:53 > 0:31:59Quaint little houses, pretty spires and wonderful lush scenery.
0:31:59 > 0:32:03# Leaves on the trees
0:32:07 > 0:32:12# I swing in the meadow... #
0:32:12 > 0:32:16Most people who move here, unsurprisingly, tend to stay,
0:32:16 > 0:32:20so any opportunity to buy around here is pounced upon.
0:32:22 > 0:32:24Well, right in the centre of the village
0:32:24 > 0:32:26is the property I'm here to see,
0:32:26 > 0:32:28but a bit of good news, it's on this side road,
0:32:28 > 0:32:32so not much through traffic, which is a great start.
0:32:32 > 0:32:34Around here are a lot of fairly old properties,
0:32:34 > 0:32:36but the property that was up for auction
0:32:36 > 0:32:38is actually something a bit more modern,
0:32:38 > 0:32:40probably built around the mid-1960s.
0:32:40 > 0:32:43It's this detached house, has two bedrooms,
0:32:43 > 0:32:46guide price was £135,000.
0:32:46 > 0:32:47Let's take a look inside.
0:32:49 > 0:32:53OK, so it's not the most picturesque property in Constantine.
0:32:53 > 0:32:56The outside could definitely do with some attention.
0:32:56 > 0:32:59By the look of the stuff lying around here in the garden,
0:32:59 > 0:33:03someone's already made a start ripping out carpets,
0:33:03 > 0:33:07but it is detached and has a garage, which is an added bonus,
0:33:07 > 0:33:09so let's check out inside.
0:33:10 > 0:33:12Nice little useful entrance porch there,
0:33:12 > 0:33:14keep the cold of the Cornish winters out.
0:33:14 > 0:33:18Then through into your living room, I guess.
0:33:18 > 0:33:20Staircase, open plan.
0:33:20 > 0:33:23I mean, it does give the room a feeling of a bit more space
0:33:23 > 0:33:26so, actually, although it's a little bit dated,
0:33:26 > 0:33:27paint that or strip it back
0:33:27 > 0:33:29and I think you can have some fun with that.
0:33:29 > 0:33:32Very disappointing room here, though.
0:33:32 > 0:33:36This is the kitchen, and, um... I'll have to look at the layout
0:33:36 > 0:33:37to figure out what we can do about that.
0:33:37 > 0:33:41However, the second downstairs living area
0:33:41 > 0:33:44is also a really good size, so we like that.
0:33:44 > 0:33:49Um...not sure about the fireplace, but at least it is an open fire,
0:33:49 > 0:33:52so that's nice to see, maybe stick a wood-burning stove in.
0:33:52 > 0:33:56But before we get involved in that, what is going on here?!
0:33:56 > 0:34:00This is the bathroom and the loo for the property.
0:34:00 > 0:34:03Why? Why is it there?!
0:34:03 > 0:34:05I need to figure out a solution to this.
0:34:05 > 0:34:07One thing that's immediately coming to mind is,
0:34:07 > 0:34:10maybe that gives a solution to our tiny kitchen,
0:34:10 > 0:34:14maybe extend into there in terms of the kitchen,
0:34:14 > 0:34:15but before you do that,
0:34:15 > 0:34:17you've got to find somewhere to put the bathroom.
0:34:17 > 0:34:19The answer could be upstairs.
0:34:19 > 0:34:22- # Oh, what's going on? - What's going on?
0:34:22 > 0:34:25- # Oh, what's going on? - What's going on... #
0:34:25 > 0:34:28While a downstairs toilet is a good thing,
0:34:28 > 0:34:30and in new-builds is standard,
0:34:30 > 0:34:32when it comes to baths and showers,
0:34:32 > 0:34:35I still think most people prefer them upstairs.
0:34:35 > 0:34:38So I'm on the hunt for a solution,
0:34:38 > 0:34:41but before I hopefully find that, just point out a few other things.
0:34:41 > 0:34:43Lots of light coming in through the windows
0:34:43 > 0:34:45and they are fairly new double-glazed units,
0:34:45 > 0:34:46which is good news.
0:34:46 > 0:34:50Also good news, two really decent-sized bedrooms,
0:34:50 > 0:34:52one over that side and one here.
0:34:52 > 0:34:56And then, possibly, the answer to our problems.
0:34:56 > 0:35:00To the rear of the property, I guess this is some kind of an extension,
0:35:00 > 0:35:03it's actually above the toilet which is downstairs,
0:35:03 > 0:35:05and it's this strange little room -
0:35:05 > 0:35:07you've got a loo, you've got a basin,
0:35:07 > 0:35:13so surely this is where you put the main bathroom.
0:35:13 > 0:35:15However, you've then got a slight problem,
0:35:15 > 0:35:17that you access it through this bedroom,
0:35:17 > 0:35:19which is never ideal.
0:35:19 > 0:35:22The answer could be in an old children's rhyme -
0:35:22 > 0:35:24Jack And Jill.
0:35:24 > 0:35:27A Jack and Jill bathroom - it has two doors,
0:35:27 > 0:35:30one from each bedroom, leading onto the bathroom.
0:35:30 > 0:35:32I think you could do that by creating a corridor here,
0:35:32 > 0:35:34and there you go - thank you, Jack and Jill.
0:35:34 > 0:35:37# So, hey, Jack You better get right
0:35:37 > 0:35:39# Or Jill won't be impressed
0:35:39 > 0:35:42# Hey, Jill, you better get right
0:35:42 > 0:35:44# Cos Jack expects the best... #
0:35:44 > 0:35:47That means you can get rid of the bathroom downstairs,
0:35:47 > 0:35:49making a bigger kitchen,
0:35:49 > 0:35:52and make this bathroom upstairs much more practical.
0:35:52 > 0:35:55There is even more restructuring potential
0:35:55 > 0:35:57around the side of the building.
0:35:57 > 0:36:00Well, at the front of the property, not much garden to speak of,
0:36:00 > 0:36:02and what there is is basically laid with flagstones.
0:36:02 > 0:36:05But something really exciting, an additional feature -
0:36:05 > 0:36:08this is a garage, a single garage.
0:36:08 > 0:36:12That in itself is good, but look at the potential above it -
0:36:12 > 0:36:14obvious space for an extension.
0:36:14 > 0:36:17That, at the same time, could give you extra space
0:36:17 > 0:36:19and enable you to sort the layout issues
0:36:19 > 0:36:21and the bathroom problems upstairs out.
0:36:21 > 0:36:23Great news.
0:36:23 > 0:36:25This house is a bit higgledy-piggledy,
0:36:25 > 0:36:28but there is potential for a really sizeable home here.
0:36:28 > 0:36:32However, there is one thing I can't see an easy solution to,
0:36:32 > 0:36:34and that's out back.
0:36:34 > 0:36:39All you've got at the rear, anyway, is this small triangle of space.
0:36:39 > 0:36:41So if you're looking at this as a family home,
0:36:41 > 0:36:42hmm...a bit of a disappointment.
0:36:42 > 0:36:45However, if you're thinking about renting this place out,
0:36:45 > 0:36:46what people want is low maintenance -
0:36:46 > 0:36:49that's good, because you've got basically flagstones everywhere -
0:36:49 > 0:36:52and they don't want that much space, so again, a big tick.
0:36:52 > 0:36:54So I guess, is it a good thing or a bad thing?
0:36:54 > 0:36:58It comes down to what you're planning to use the house for.
0:36:59 > 0:37:03I think that the area it's in and the potential this property has
0:37:03 > 0:37:05is going to attract a lot of attention
0:37:05 > 0:37:07for this house on the market,
0:37:07 > 0:37:11especially at what was a guide price of 135,000.
0:37:11 > 0:37:14What does a local property expert think?
0:37:14 > 0:37:16We asked one along to have a look.
0:37:24 > 0:37:26It's a nice little two-bedroom detached cottage,
0:37:26 > 0:37:30it's a little bit different to all the others in the road here.
0:37:30 > 0:37:31The fact that it's detached,
0:37:31 > 0:37:37there are very few properties that are available in Constantine
0:37:37 > 0:37:40which are detached, of this size.
0:37:40 > 0:37:43It's got the two bedrooms, two reception rooms
0:37:43 > 0:37:45and sought-after garage and parking.
0:37:45 > 0:37:48It obviously needs a fair amount of work and some money spent on it,
0:37:48 > 0:37:50but I think it could be a great little home,
0:37:50 > 0:37:52either as a rental or an investment.
0:37:53 > 0:37:55So, once some work is done,
0:37:55 > 0:37:58what does he think the potential is on the resale market?
0:37:59 > 0:38:05Once renovated, I would anticipate to achieve up to £200,000.
0:38:06 > 0:38:09And what if the buyer wanted to let it out?
0:38:11 > 0:38:14If it was done nicely,
0:38:14 > 0:38:17£575 per calendar month.
0:38:19 > 0:38:23Well, this is clearly a highly desirable location,
0:38:23 > 0:38:26and to find a house of this kind of size here
0:38:26 > 0:38:28is a really interesting opportunity.
0:38:28 > 0:38:32I'm sure it was extremely popular when it went under the hammer.
0:38:33 > 0:38:34Guiding £135,000
0:38:34 > 0:38:38for this two-bedroom, two-storey detached house.
0:38:38 > 0:38:40Somebody be brave
0:38:40 > 0:38:44and start the bidding off at £130,000.
0:38:44 > 0:38:46Don't be shy, £130,000 -
0:38:46 > 0:38:48thank you very much at the back.
0:38:48 > 0:38:52Any advance on £130,000 at the back of the room?
0:38:52 > 0:38:54Looking for 135 now.
0:38:54 > 0:38:56I have 140 at the back, 145?
0:38:56 > 0:38:58145, 150?
0:38:58 > 0:39:00155 seated.
0:39:00 > 0:39:01160 standing.
0:39:01 > 0:39:04165 sitting?
0:39:04 > 0:39:06165 sitting, 170?
0:39:06 > 0:39:08Take a smaller increment, if it'll help you?
0:39:08 > 0:39:10166?
0:39:10 > 0:39:12166.
0:39:12 > 0:39:15167. 68?
0:39:16 > 0:39:19£167,000, then, ladies and gentlemen.
0:39:19 > 0:39:22For the first time, for the second,
0:39:22 > 0:39:24it's the third and last time of calling,
0:39:24 > 0:39:26are we quite clear we're all done?
0:39:26 > 0:39:29The bid is with you, seated, sir, at £167,000...
0:39:29 > 0:39:31And it is sold to you, thank you very much.
0:39:31 > 0:39:35And that final successful bid of 167,000
0:39:35 > 0:39:37was from Scott.
0:39:37 > 0:39:40Scott is a carpenter who's been making furniture in Falmouth
0:39:40 > 0:39:43for the last 15 years.
0:39:43 > 0:39:48# Let us now praise the carpenter and the things that he made
0:39:48 > 0:39:53# And the way that he lived by the tools of the trade... #
0:39:53 > 0:39:56He's been looking for a new home for the last three years
0:39:56 > 0:39:58for him and his three sons,
0:39:58 > 0:40:01and finally, this is the one he's gone for.
0:40:01 > 0:40:05So I caught up with him back at the house to find out his plans.
0:40:05 > 0:40:06Scott, congratulations!
0:40:06 > 0:40:08- Thank you very much.- Good house!
0:40:08 > 0:40:10Yeah, it's great, really good.
0:40:10 > 0:40:11Tell me why you wanted to buy it.
0:40:11 > 0:40:16I really wanted to be in the village because my boys are at school here,
0:40:16 > 0:40:20all three boys are in the school, and it's a lovely little village,
0:40:20 > 0:40:22I know quite a lot of people here,
0:40:22 > 0:40:26so I've been looking around Constantine and Penryn,
0:40:26 > 0:40:29and this house come up and it's just perfect for us.
0:40:29 > 0:40:32The fact that it isn't that character cottage,
0:40:32 > 0:40:34does that cause you a problem, or...?
0:40:34 > 0:40:36Not really. I think with those,
0:40:36 > 0:40:39they're all quite...pokey,
0:40:39 > 0:40:42and this obviously has a bit more space
0:40:42 > 0:40:44for the boys to rattle around in.
0:40:44 > 0:40:47There is certainly plenty of room for his lads,
0:40:47 > 0:40:50Danny, Hamish and Charlie, inside the house,
0:40:50 > 0:40:52but not so much out the back.
0:40:52 > 0:40:55Never mind - there's always this handy park nearby.
0:40:55 > 0:40:58With their school close by too,
0:40:58 > 0:41:01and his carpentry business only about 20 minutes' drive away,
0:41:01 > 0:41:03this village is ideal.
0:41:06 > 0:41:08So you're going to kit this place out in your furniture?
0:41:08 > 0:41:10I'd love to, it'd be really nice,
0:41:10 > 0:41:13but we can't really afford my furniture!
0:41:13 > 0:41:15But it wouldn't cost you anything, you make it!
0:41:15 > 0:41:18I know, but time is money, you know!
0:41:18 > 0:41:21I'm hoping we'll have one or two things,
0:41:21 > 0:41:24maybe some old exhibition pieces I've got, maybe,
0:41:24 > 0:41:26will find their way in here and we can use those,
0:41:26 > 0:41:28because it would be nice to have.
0:41:28 > 0:41:31It'd be horrendous to think you'd buy flat-pack furniture and stuff!
0:41:31 > 0:41:33I know, it's not right, is it?
0:41:33 > 0:41:35Rattly tables!
0:41:35 > 0:41:38Hopefully he can sneak his pieces in and around all over the house
0:41:38 > 0:41:41on top of the full renovation that he's got planned.
0:41:41 > 0:41:44He's even going to get a wood-burning stove
0:41:44 > 0:41:46to replace that old fireplace
0:41:46 > 0:41:49and, being a carpenter, he won't be short of fuel.
0:41:51 > 0:41:53So, what's the budget for the work?
0:41:53 > 0:41:59I think I'm looking at spending around £10,000.
0:41:59 > 0:42:00And the timescale?
0:42:00 > 0:42:02We want to be in probably inside a month,
0:42:02 > 0:42:08and then, um...have it all warm and cosy for Christmas,
0:42:08 > 0:42:12and kitchen and bathroom are going to be longer term.
0:42:12 > 0:42:15We're very busy at work and I've got to do it around that as well,
0:42:15 > 0:42:18so...we'll just see how it goes.
0:42:18 > 0:42:20What are you most excited about?
0:42:21 > 0:42:23I think being in the village.
0:42:23 > 0:42:27In the short time we've come to the house,
0:42:27 > 0:42:29there's lots of people been passing that we know.
0:42:29 > 0:42:33It's a very friendly village and just really excited for the boys
0:42:33 > 0:42:36to have some more room and their friends down the road
0:42:36 > 0:42:39and that's just going to be really good.
0:42:39 > 0:42:41Great. Well, listen, congratulations.
0:42:41 > 0:42:43Good stuff, I look forward to seeing how you get on.
0:42:43 > 0:42:44Thank you, Martin.
0:42:46 > 0:42:49Well, it seems that Scott and the boys
0:42:49 > 0:42:52have found their perfect home, and that's fantastic news.
0:42:52 > 0:42:54How are they going to get on with the renovations
0:42:54 > 0:42:57and what's the going pocket money rate for doing a bit of painting?
0:42:57 > 0:42:59You can find out later in the show.
0:43:03 > 0:43:06Well, time and tide wait for no man.
0:43:06 > 0:43:08Have our remaining two properties been transformed
0:43:08 > 0:43:10and restored to their former glory?
0:43:10 > 0:43:14Or have they had a reality check? It's the moment of truth.
0:43:14 > 0:43:15Let's find out.
0:43:18 > 0:43:20It was in the Birmingham suburb of Yardley
0:43:20 > 0:43:24where we first came across this three-bed semidetached house
0:43:24 > 0:43:26that was in a bit of a state.
0:43:26 > 0:43:31It was dated, tired, cracks, damp and a very overgrown garden.
0:43:31 > 0:43:35It also had a layout that just wasn't suited to modern living.
0:43:35 > 0:43:38Through into the kitchen.
0:43:38 > 0:43:43Tiny. Very, very small kitchen. Very old-fashioned.
0:43:43 > 0:43:46Some really nice old-fashioned touches
0:43:46 > 0:43:49and there's the toilet right at the end.
0:43:49 > 0:43:51There's got to be a better way of using this space.
0:43:54 > 0:43:56It had a downstairs bathroom with no loo
0:43:56 > 0:44:00and this house just wasn't working for me.
0:44:00 > 0:44:02But what do we do on this programme
0:44:02 > 0:44:05when we need advice on how to maximise a property?
0:44:07 > 0:44:10We call in an estate agent.
0:44:10 > 0:44:12In this case, it was local estate agent Golam
0:44:12 > 0:44:14who had bought the property for 88 grand.
0:44:14 > 0:44:18He was following the old estate agent mantra -
0:44:18 > 0:44:20it's all about location.
0:44:22 > 0:44:25What was it about this house that made you think, "I really want it"?
0:44:25 > 0:44:27It's really close to my office.
0:44:27 > 0:44:29- I could just... - THEY LAUGH
0:44:29 > 0:44:32..manage the project more closely, to be fair with you.
0:44:32 > 0:44:36OK, what were your ideas when you first saw this house?
0:44:36 > 0:44:38"I'll buy it to live in, I'll buy it to rent..."
0:44:38 > 0:44:41- What were you thinking? - No, I'm a seasoned developer,
0:44:41 > 0:44:44so basically, I'm going to refurbish it and put it back on the market.
0:44:46 > 0:44:48Yes, a seasoned developer indeed.
0:44:48 > 0:44:51With 50 property projects to his name,
0:44:51 > 0:44:54he was hoping that he can untangle this muddled house
0:44:54 > 0:44:57with a budget of 10 to 12 grand and in a two-month timescale.
0:45:00 > 0:45:03Now, three-and-a-half months later, we are back.
0:45:06 > 0:45:10Well, there are signs that work is happening on the outside -
0:45:10 > 0:45:11or should that be
0:45:11 > 0:45:13there are SIGNS ON the outside?
0:45:13 > 0:45:16But it was on the inside that needed a new direction.
0:45:23 > 0:45:25Yeah, so far, so good.
0:45:25 > 0:45:28Stripped back with all the old fireplaces gone,
0:45:28 > 0:45:30it's much more modern.
0:45:32 > 0:45:35But it was the kitchen space that really needed some work.
0:45:45 > 0:45:47Wow! Now it looks great.
0:45:47 > 0:45:49Thumbs up to that, Golam.
0:45:49 > 0:45:50There were some outbuildings.
0:45:50 > 0:45:53We've incorporated that within the kitchen
0:45:53 > 0:45:56and made it a bigger kitchen-diner.
0:45:57 > 0:46:00So, without having to add an additional extension,
0:46:00 > 0:46:02he has cleverly reworked the old outbuildings
0:46:02 > 0:46:06to create a fabulous space, and there's more.
0:46:06 > 0:46:08We've created a bathroom downstairs,
0:46:08 > 0:46:12with a shower and the toilet and the bath again.
0:46:14 > 0:46:19That's great, but does that mean there is still no bathroom upstairs?
0:46:19 > 0:46:20The upstairs, it only had a toilet,
0:46:20 > 0:46:24so what we did, we took a bit of space from the smaller room upstairs
0:46:24 > 0:46:27and we've turned that into a bathroom.
0:46:28 > 0:46:32And there's still three bedrooms upstairs as well as the bathroom.
0:46:38 > 0:46:40And there is still one thing to see,
0:46:40 > 0:46:43and that's something I couldn't even get into when I was here.
0:46:43 > 0:46:45The garden.
0:46:51 > 0:46:53That's amazing. Who would have known?
0:46:53 > 0:46:56It really is as big as a cricket pitch.
0:46:56 > 0:46:57I'm BOWLED over.
0:46:57 > 0:47:01So, hats off to you, sir, this is a top job,
0:47:01 > 0:47:05but with a busy estate agent's to run, how hands on was Golam?
0:47:07 > 0:47:10I actually did more than I planned
0:47:10 > 0:47:13because I had to project-manage this on a daily basis
0:47:13 > 0:47:16cos when my original contractors let me down,
0:47:16 > 0:47:18I found the new contractors weren't pulling their weight
0:47:18 > 0:47:22and weren't doing the job as I specified to them
0:47:22 > 0:47:23so what I had to do was be on site
0:47:23 > 0:47:26and actually supervise the work throughout.
0:47:26 > 0:47:29So, with Golam keeping an eye on proceedings,
0:47:29 > 0:47:31this project has been kept on track,
0:47:31 > 0:47:34but did he keep to his 10 to 12 grand budget?
0:47:36 > 0:47:39I always underestimate, for some strange reason,
0:47:39 > 0:47:43but I did go over budget.
0:47:43 > 0:47:46I think we're round about £15,000 at the moment.
0:47:49 > 0:47:53That 15 grand spend on top of his £88,000 purchase price
0:47:53 > 0:47:57takes his total costs to 103 grand.
0:47:57 > 0:48:00Seems like a pretty good deal to me.
0:48:00 > 0:48:02What did two local property experts
0:48:02 > 0:48:05think of their fellow estate agent's handiwork?
0:48:08 > 0:48:10This is my second visit to the property.
0:48:10 > 0:48:12This time around, I've come in
0:48:12 > 0:48:14and it's all been modernised
0:48:14 > 0:48:17and the guy appears to have made a really lovely job out of it.
0:48:17 > 0:48:19This is my first time in the property today
0:48:19 > 0:48:21and it is a lovely property.
0:48:21 > 0:48:23It's airy, it's got a good-sized kitchen,
0:48:23 > 0:48:24which is a fitted kitchen,
0:48:24 > 0:48:27large rear garden. The fact it's got two bathrooms
0:48:27 > 0:48:29is a great benefit to the property as well,
0:48:29 > 0:48:30with the two reception rooms.
0:48:30 > 0:48:33Selling points of the property are
0:48:33 > 0:48:37that it is a nice, well-maintained property now,
0:48:37 > 0:48:38of three bedrooms,
0:48:38 > 0:48:42in an area that doesn't have that many properties
0:48:42 > 0:48:44coming up for sale in.
0:48:44 > 0:48:48Golam has, up until now, sold his property refurbishments on,
0:48:48 > 0:48:50but he is rethinking his strategy.
0:48:50 > 0:48:54He's going to rent this one out, but is that the right decision?
0:48:54 > 0:48:57Could he have seen a profit on his £103,000 investment?
0:48:57 > 0:49:00If they're going to place the property on the market,
0:49:00 > 0:49:02and resell it again,
0:49:02 > 0:49:06I would imagine that they would achieve somewhere between
0:49:06 > 0:49:08£130,000 and £140,000.
0:49:08 > 0:49:14I would value this property at £150,000 to £160,000.
0:49:14 > 0:49:18I think the valuation between 150 to 160,
0:49:18 > 0:49:20I think that's more of a realistic valuation.
0:49:20 > 0:49:24The 130 to 140 valuation is at the lower end of the market.
0:49:24 > 0:49:28I've had it valued myself at over £150,000.
0:49:31 > 0:49:33So, for once, a potential pre-tax profit
0:49:33 > 0:49:37of in between £27,000 and £57,000 isn't for him.
0:49:37 > 0:49:39It's all about the rent.
0:49:39 > 0:49:42If they decide to rent the property,
0:49:42 > 0:49:46then I would imagine that you would be in the region
0:49:46 > 0:49:49of £650 to £700 per calendar month.
0:49:49 > 0:49:51On the rental market, you'd be getting around about
0:49:51 > 0:49:54the £750 to £800 per calendar month.
0:49:54 > 0:49:58I've already rented this house out for £775.
0:49:58 > 0:50:03That is great news, and a rent of £775 per calendar month
0:50:03 > 0:50:05gives a healthy yield of 9%.
0:50:05 > 0:50:08So if he's going from resale to rental,
0:50:08 > 0:50:10what's next for Golam?
0:50:13 > 0:50:16In the future, I want to build up a big portfolio,
0:50:16 > 0:50:18maybe up to 300 properties.
0:50:22 > 0:50:25We return now to the small village of Constantine
0:50:25 > 0:50:27and it was a village full of idyllic,
0:50:27 > 0:50:30quintessential Cornish cottages,
0:50:30 > 0:50:32but unfortunately, our lot wasn't one of them.
0:50:32 > 0:50:35It's actually something a bit more modern,
0:50:35 > 0:50:38probably built around the mid-1960s.
0:50:38 > 0:50:39It has two bedrooms.
0:50:39 > 0:50:42The guide price was 135,000 quid.
0:50:42 > 0:50:44Let's take a look inside.
0:50:44 > 0:50:47Inside, I was surprised that the layout was anything but modern.
0:50:47 > 0:50:51A pokey kitchen, a very odd downstairs bathroom arrangement,
0:50:51 > 0:50:54coupled with some dated open stairs.
0:50:54 > 0:50:57There were, though, two good-sized bedrooms
0:50:57 > 0:51:02and a garage, which potentially offered more room for extending.
0:51:02 > 0:51:04Local furniture-maker Scott
0:51:04 > 0:51:07earmarked it for himself and his three boys,
0:51:07 > 0:51:12Danny, Hamish and Charlie, so he snapped it up for £167,000.
0:51:12 > 0:51:16So you're going to kit this place out in your furniture?
0:51:16 > 0:51:18I'd love to, it would be really nice,
0:51:18 > 0:51:21but we can't really afford my furniture.
0:51:21 > 0:51:23It wouldn't cost you anything, you make it!
0:51:23 > 0:51:25I know, but time is money, you know!
0:51:25 > 0:51:28It'd be horrendous to think you'd buy flat-pack furniture and stuff!
0:51:28 > 0:51:30I know, it's not right, is it?
0:51:30 > 0:51:32Rattly tables!
0:51:32 > 0:51:35While Scott did plan to do most of the work himself,
0:51:35 > 0:51:38even if he wasn't going to be filling it
0:51:38 > 0:51:40with his own bespoke furniture,
0:51:40 > 0:51:43he had a £10,000 budget and a timescale -
0:51:43 > 0:51:46well, he hoped to move in with his three boys in a month,
0:51:46 > 0:51:49but then he wasn't sure about how long it would take to complete.
0:51:54 > 0:51:56Is it a year later we returned?
0:51:56 > 0:51:58Two, maybe? Possibly three?
0:51:58 > 0:52:00Surely it can't be four?
0:52:00 > 0:52:02No, it's none of these.
0:52:03 > 0:52:05# Five years
0:52:05 > 0:52:07# What a surprise
0:52:08 > 0:52:12# Five years
0:52:13 > 0:52:17# Five years... #
0:52:17 > 0:52:20Yes, almost incredibly, FIVE years on,
0:52:20 > 0:52:23we return to catch up on Scott's progress.
0:52:25 > 0:52:29Outside, it's grown - well, some foliage anyway -
0:52:29 > 0:52:31and some of Scott's handiwork is on display.
0:52:31 > 0:52:34Hope he hasn't been resting on his laurels
0:52:34 > 0:52:36when it comes to the inside.
0:52:39 > 0:52:42That is a relief. It's looking really good.
0:52:42 > 0:52:45Open plan, rustic, yet modern.
0:52:47 > 0:52:51So, come on, Scott, I'm listening. Take me through this.
0:52:51 > 0:52:53# Step by step... #
0:52:53 > 0:52:55Well, when we moved in five years ago,
0:52:55 > 0:52:59we very quickly did the bedrooms, got them sorted first,
0:52:59 > 0:53:01so we could move in and have somewhere to sleep.
0:53:01 > 0:53:04# Step by step
0:53:04 > 0:53:08# Little by little
0:53:09 > 0:53:11# Step by step
0:53:11 > 0:53:15- # Take it line by line - One day at a time... #
0:53:17 > 0:53:20Along with the two main bedrooms,
0:53:20 > 0:53:22Scott's created an extra sleeping area
0:53:22 > 0:53:26in what was a small washroom off one of the bedrooms.
0:53:26 > 0:53:28So, no upstairs bathroom, then.
0:53:28 > 0:53:30Wood-burner in was the next step
0:53:30 > 0:53:33cos that does all the heating as well.
0:53:33 > 0:53:35Warm the place up a bit.
0:53:35 > 0:53:37And not just because of the wood-burner.
0:53:37 > 0:53:40It does undoubtedly look more cosy and warm.
0:53:45 > 0:53:48Bathroom, we took the bathroom out, the horrible pink bathroom,
0:53:48 > 0:53:52and so we put in just a shower room, cos we like showers.
0:53:54 > 0:53:56OK, so still downstairs,
0:53:56 > 0:53:59but much more practical and a better use of the space.
0:53:59 > 0:54:03So, inside, it was just the kitchen to sort out.
0:54:04 > 0:54:06One of the big tasks was doing the kitchen
0:54:06 > 0:54:09and I thought we'd try and do a nice one -
0:54:09 > 0:54:11cos I'm a furniture-maker, we thought we'd do a proper one.
0:54:11 > 0:54:14# Step by step
0:54:14 > 0:54:17# Little by little
0:54:19 > 0:54:21# Step by step
0:54:21 > 0:54:27- # Take it line by line - One day at a time... #
0:54:27 > 0:54:29The kitchen is where Scott's carpentry skills
0:54:29 > 0:54:31have come to the fore,
0:54:31 > 0:54:33with bespoke units and worktops,
0:54:33 > 0:54:36and it's finished off the interior beautifully.
0:54:37 > 0:54:41And step outside, where there is now a hardwood decked area.
0:54:44 > 0:54:47But why, oh why, has it taken so long?
0:54:50 > 0:54:52It's been quite a challenge to fit it in around work
0:54:52 > 0:54:55cos obviously, you're picking up the tools
0:54:55 > 0:54:57when you get back home at night
0:54:57 > 0:55:00and you put them down, and you're not on the job continually,
0:55:00 > 0:55:03so trying to maintain that flow is quite a challenge
0:55:03 > 0:55:07and then obviously, life intervenes in the middle of it all.
0:55:07 > 0:55:09I've got a busy life with the boys
0:55:09 > 0:55:11and I run a Scout group as well in the village,
0:55:11 > 0:55:14so quite stretched for time, to be honest,
0:55:14 > 0:55:15and we've been really busy at work,
0:55:15 > 0:55:18so we've had lots of big projects on.
0:55:18 > 0:55:22So, yeah, it's taken as long as it's taken.
0:55:22 > 0:55:25The three boys, work, outside-work activities
0:55:25 > 0:55:29and actually living in the property whilst trying to do it up
0:55:29 > 0:55:31does make for slow progress.
0:55:31 > 0:55:36But taking this long has meant his plans have also changed.
0:55:36 > 0:55:39When we moved in, I thought we'd be here for maybe 20 years or so,
0:55:39 > 0:55:43so I've done it up in that way, so we could live in it and enjoy it
0:55:43 > 0:55:47and try to do it really nicely but five years on,
0:55:47 > 0:55:49I have a new partner now,
0:55:49 > 0:55:51and Vicky and I are looking for a new place
0:55:51 > 0:55:53cos we need a bit more room.
0:55:53 > 0:55:57We'll miss the place but going to find somewhere a bit bigger.
0:55:57 > 0:56:00Well, Scott may have been way off any estimated timescale,
0:56:00 > 0:56:04but he did stay nearer to his £10,000 budget,
0:56:04 > 0:56:07with his spend to date £13,000,
0:56:07 > 0:56:11which makes for a total investment of £180,000
0:56:11 > 0:56:12on this protracted project.
0:56:12 > 0:56:14So, was it worth the wait?
0:56:14 > 0:56:17What did two local estate agents think?
0:56:17 > 0:56:19After seeing the property today,
0:56:19 > 0:56:21I think they've made a good use of the space on offer.
0:56:21 > 0:56:22It's very light and airy,
0:56:22 > 0:56:24it got a lovely garden at the back
0:56:24 > 0:56:25and parking is definitely a bonus.
0:56:25 > 0:56:28I like the property. It's very bright
0:56:28 > 0:56:30and it's in a good location in the centre of the village.
0:56:30 > 0:56:33The property has been finished to a good standard throughout.
0:56:33 > 0:56:35The kitchen-diner downstairs is very nice
0:56:35 > 0:56:37and very in keeping with the age of the property.
0:56:37 > 0:56:40I think the layout works for the size of the property.
0:56:40 > 0:56:42The downstairs bathroom might be a problem to some people,
0:56:42 > 0:56:45but there literally is nowhere else you can put it.
0:56:47 > 0:56:49Scott is now keen to sell the property on,
0:56:49 > 0:56:52as it's not big enough for him and his new partner, Vicky,
0:56:52 > 0:56:54who also has children of her own.
0:56:54 > 0:56:57So, having spent £180,000,
0:56:57 > 0:57:01has this house been a profitable investment?
0:57:01 > 0:57:03If we were to put this property on the market today,
0:57:03 > 0:57:06we'd put it on for offers in the region of £225,000.
0:57:06 > 0:57:09In my opinion, the property is probably worth
0:57:09 > 0:57:12somewhere in the region of £220,000 to £225,000.
0:57:12 > 0:57:16I've put the house on the market slightly more than that.
0:57:16 > 0:57:19I've had some other valuations that were...
0:57:19 > 0:57:21Had quite a broad range of valuations
0:57:21 > 0:57:24so, yeah, I would hope for a little more.
0:57:24 > 0:57:29Scott's hoping to sell it for £235,000
0:57:29 > 0:57:32but even the agents' values would see a pre-tax profit
0:57:32 > 0:57:35of between £40,000 and £45,000
0:57:35 > 0:57:39and they both thought rental of around £650 per calendar month
0:57:39 > 0:57:41would be possible,
0:57:41 > 0:57:44which would generate a small yield of just above 4%.
0:57:44 > 0:57:47So how would Scott sum up his five-year odyssey
0:57:47 > 0:57:50to create a family home?
0:57:50 > 0:57:53The boys, actually, when we first looked at the property -
0:57:53 > 0:57:55I didn't know this till recently -
0:57:55 > 0:57:59but they were a little bit shocked at what we were moving into
0:57:59 > 0:58:03and now...they come in and they just love it.
0:58:06 > 0:58:09Well, behind every property, there is a story
0:58:09 > 0:58:11and we'll have plenty more for you next time here
0:58:11 > 0:58:12on Homes Under The Hammer.
0:58:12 > 0:58:16Yes, so join us then to find out what happens when the hammer falls.
0:58:16 > 0:58:17- Goodbye.- Goodbye.