0:00:03 > 0:00:05Hello, and welcome to the show.
0:00:05 > 0:00:07Now, wherever you live, London, Livingston, Liverpool,
0:00:07 > 0:00:10bagging a property bargain can be tricky,
0:00:10 > 0:00:12but that's not to say they can't be found.
0:00:12 > 0:00:16Now, one thing we learn week after week on this show is the importance
0:00:16 > 0:00:19of doing local property research before you buy.
0:00:19 > 0:00:22Yes, so where should you start that search?
0:00:22 > 0:00:24How about your local property auction?
0:00:50 > 0:00:53Whether you've got ?1,000 to spend on a project,
0:00:53 > 0:00:55or hundreds of thousands of pounds,
0:00:55 > 0:00:57people are always looking to add value to their property.
0:00:57 > 0:01:00By making the right decisions and putting in some hard graft,
0:01:00 > 0:01:02sometimes you can do just that.
0:01:02 > 0:01:04Yes, so what happened with today's properties?
0:01:04 > 0:01:07Well, here's what coming up on today's show.
0:01:07 > 0:01:09I'm in Bilston in the West Midlands
0:01:09 > 0:01:14to see a house with surfaces that have an interesting feel to them.
0:01:14 > 0:01:17There's another texture to add to our walls - this time bubbles!
0:01:17 > 0:01:21Whilst Lucy is in Kent to see a cute cottage,
0:01:21 > 0:01:23but will it be all she can wish for?
0:01:23 > 0:01:24Wish me well.
0:01:28 > 0:01:32Well, I wish the penny would drop for me in this house in Stoke-on-Trent,
0:01:32 > 0:01:35because I can't find the bathroom anywhere.
0:01:35 > 0:01:38And I'll tell you why... I'll tell you why I can't find it...
0:01:39 > 0:01:41All these properties have been sold at auction,
0:01:41 > 0:01:44and we'll find out who bought them and what they paid when they went
0:01:44 > 0:01:46under the hammer.
0:01:46 > 0:01:47You bought it, well done.
0:01:51 > 0:01:55I'm in Bilston, a small market town on the periphery of Wolverhampton.
0:01:56 > 0:02:00It has its own Metro station as well as good bus links
0:02:00 > 0:02:03and access to the M5 and the M6.
0:02:03 > 0:02:06So, it's well placed for commuting to nearby Birmingham
0:02:06 > 0:02:08and further afield.
0:02:10 > 0:02:15Along this fairly busy road, we have a detached two bedroom property
0:02:15 > 0:02:18with a guide price of ?29,000 to ?34,000.
0:02:18 > 0:02:19Now, this is good.
0:02:19 > 0:02:21It has off-street parking
0:02:21 > 0:02:24and the size of this garden is fantastic because
0:02:24 > 0:02:27it takes it back from that busy road.
0:02:27 > 0:02:30Now, the best bit in the auction catalogue is it describes the
0:02:30 > 0:02:33property as having development potential, which really excites me,
0:02:33 > 0:02:35and I can't wait to have a look inside.
0:02:40 > 0:02:44So, what have we got here? A pretty tired looking house.
0:02:44 > 0:02:47So, you have the polystyrene tiles, which definitely need to come down.
0:02:47 > 0:02:51And here we have a reception room which is good proportions, small.
0:02:51 > 0:02:54Fireplace - not to everyone's taste,
0:02:54 > 0:02:57and it's not central heating, which is an issue you would have to resolve.
0:02:57 > 0:02:59It's very dated.
0:02:59 > 0:03:03So, this carpet is flowery, won't have been changed for decades,
0:03:03 > 0:03:04and on the walls, well,
0:03:04 > 0:03:07there's all sorts of interesting textures going on,
0:03:07 > 0:03:09from woodchip to rainbows.
0:03:09 > 0:03:12Here, a glass door, I've never seen the likes of it..
0:03:12 > 0:03:14Could be a feature, I guess.
0:03:14 > 0:03:17And another very small reception room.
0:03:17 > 0:03:20Many textures on the walls again.
0:03:20 > 0:03:23Another fireplace which would probably have to come out.
0:03:23 > 0:03:26You have double glazing, which is good,
0:03:26 > 0:03:27and may well not need to be replaced.
0:03:27 > 0:03:31And here, we have a kitchen which has a cheek at calling itself
0:03:31 > 0:03:34a kitchen, because really it's only a sink and a cooker.
0:03:34 > 0:03:37So, that would need to come out, be ripped out.
0:03:37 > 0:03:42You also have a little toilet, which is good news on the ground floor.
0:03:42 > 0:03:45So far, loads of work to be done, but not a bad start.
0:03:47 > 0:03:51I think I see a pattern emerging with these wall and floor coverings,
0:03:51 > 0:03:56and as much as I love vintage style, vintage health and safety?
0:03:56 > 0:03:57Definitely not a good look.
0:03:57 > 0:04:01Old polystyrene tiles can be a fire hazard,
0:04:01 > 0:04:03and even more dangerous when they're painted.
0:04:03 > 0:04:08It's also unlikely the patterned glass door's made of safety glass.
0:04:08 > 0:04:09Time for them to go!
0:04:09 > 0:04:12# Patterns all around you
0:04:12 > 0:04:14# Patterns everywhere... #
0:04:17 > 0:04:19So, upstairs...
0:04:19 > 0:04:22OK, that's the bathroom and it is actually just a bathroom,
0:04:22 > 0:04:26there's no toilet, so you would really need to get a toilet in here,
0:04:26 > 0:04:28but you are squished for space.
0:04:28 > 0:04:30You have a small bedroom here.
0:04:30 > 0:04:34It won't surprise you to learn there's polystyrene tiles on the
0:04:34 > 0:04:35roof, which will have to come down,
0:04:35 > 0:04:39and there's another texture to add to our walls, this time bubbles!
0:04:39 > 0:04:44Going through... Ah, this is a better proportioned-sized bedroom,
0:04:44 > 0:04:46but I see there's a floorboard missing.
0:04:46 > 0:04:50Now, closer inspection shows there are signs of woodworm,
0:04:50 > 0:04:54so you would have to check that's been treated properly.
0:04:54 > 0:04:56Definitely needs investigating.
0:04:56 > 0:05:00I like this. This little feature fireplace could stay in some shape
0:05:00 > 0:05:03or form. It's a blank canvas, which is great,
0:05:03 > 0:05:06and you don't have the polystyrene tiles up there.
0:05:06 > 0:05:10You don't hear much because of the double glazing,
0:05:10 > 0:05:11so that's a great sign.
0:05:11 > 0:05:14Do you know what? If it wasn't for the fact it didn't have an actual
0:05:14 > 0:05:18toilet, this would be a really good layout upstairs.
0:05:18 > 0:05:21There's loads to be done, but good potential.
0:05:21 > 0:05:25# Something's missing from my life... #
0:05:27 > 0:05:30An upstairs toilet would be a little handier for a midnight trip to the
0:05:30 > 0:05:34loo and installing one shouldn't cause too much of a splash,
0:05:34 > 0:05:36as there's already plumbing.
0:05:36 > 0:05:39The issue here is lack of space.
0:05:39 > 0:05:42You could nab a bit from one of the bedrooms unless
0:05:42 > 0:05:43there's another solution.
0:05:46 > 0:05:50Heading out to the back garden, well, that's some piece of land.
0:05:50 > 0:05:52It's bigger than I expected.
0:05:52 > 0:05:54So, not only do you have a really decent sized front garden,
0:05:54 > 0:05:56you've got loads of room out here.
0:05:56 > 0:06:00And somehow, having a two-bed house on this big plot doesn't do it
0:06:00 > 0:06:02justice, don't you think?
0:06:02 > 0:06:06And this brings me back to the earlier point of development potential.
0:06:06 > 0:06:09You could extend a little bit to the side, you could go up,
0:06:09 > 0:06:14and you could come out here to make this into a larger family house.
0:06:14 > 0:06:16All, of course, dependant on planning permission.
0:06:16 > 0:06:19But it's definitely an option worth exploring.
0:06:24 > 0:06:27Let's get some local knowledge from an agent from the auction house
0:06:27 > 0:06:29that's sold the property.
0:06:31 > 0:06:36What does he think of the house, guided at between 29 to 34 grand?
0:06:36 > 0:06:42The property requires works doing from what I would say top to bottom,
0:06:42 > 0:06:46but I would imagine that in the right hands it could be made quite nice.
0:06:46 > 0:06:49It's got a nice, big garden.
0:06:49 > 0:06:52You've got room to extend the property without detracting from
0:06:52 > 0:06:55any facility of garden with it.
0:06:55 > 0:06:58You've also got off-road parking in a garage to the side,
0:06:58 > 0:07:03so it's quite, sort of, a good basic start.
0:07:03 > 0:07:07Extending seems like the obvious option here, but before embarking on
0:07:07 > 0:07:11any development you should always take into account what the demand
0:07:11 > 0:07:13is and what the ceiling price is in the area.
0:07:13 > 0:07:15If you spend too much,
0:07:15 > 0:07:18you might never make your money back should you need to sell.
0:07:18 > 0:07:23Still, with such a low guide price of ?29,000 to ?34,000,
0:07:23 > 0:07:26there could be profit to be made.
0:07:26 > 0:07:29As a two-bedroom property in reasonable condition,
0:07:29 > 0:07:32I would imagine that the price you would achieve would be somewhere
0:07:32 > 0:07:36between ?110,000 and ?120,000.
0:07:36 > 0:07:40And if you were to extend to a three bed,
0:07:40 > 0:07:42what could it be worth then?
0:07:42 > 0:07:47It's difficult to put a value on a property that's theoretically going
0:07:47 > 0:07:51to be extended, but I would imagine a three-bedroom property would be in
0:07:51 > 0:07:54the region of ?140,000, maybe ?150,000.
0:07:56 > 0:07:59This really is a property with plenty of potential.
0:07:59 > 0:08:03A relatively small and tired two-bed on a sizeable plot of land,
0:08:03 > 0:08:05but it could be so much more.
0:08:05 > 0:08:07So, who had the vision to turn it round?
0:08:07 > 0:08:09Let's head to auction to find out.
0:08:11 > 0:08:15This next lot is a freehold detached house.
0:08:15 > 0:08:18So, who'll bid me, then? Start me if you will.
0:08:18 > 0:08:20I think at 50,000, but I'll make it easy for you, is it 40...?
0:08:20 > 0:08:2350, thank you, sir. Man after my own heart.
0:08:23 > 0:08:25At 50,000 I'm bid.
0:08:25 > 0:08:27Is it 60 now?
0:08:27 > 0:08:29Are we all done? Is it 60 anywhere?
0:08:29 > 0:08:31At 60, I'm bid, and thank you.
0:08:31 > 0:08:33At 60, I'm bid.. Is it 70 now, sir?
0:08:35 > 0:08:36Five, is that?
0:08:36 > 0:08:39Five. 65. Thank you. 65.
0:08:39 > 0:08:42Same for you, sir. Do you want 70?
0:08:42 > 0:08:4370 I'm bid. At 70.
0:08:43 > 0:08:4575?
0:08:45 > 0:08:46Are you sure?
0:08:46 > 0:08:48Is there 75 anywhere?
0:08:48 > 0:08:50Two, then, sir? 72?
0:08:50 > 0:08:52No? At ?70,000.
0:08:52 > 0:08:55Can I see your number, sir? Number 985.
0:08:55 > 0:08:5772, a new bid at 72.
0:08:57 > 0:08:5974, sir?
0:08:59 > 0:09:02No. At 72,000.
0:09:02 > 0:09:04Are we all done?
0:09:04 > 0:09:05At 72,000.
0:09:05 > 0:09:08One, two, three...
0:09:09 > 0:09:11That's yours, sir. Can I just check the number?
0:09:11 > 0:09:13Was it... 584.
0:09:13 > 0:09:15That is yours. Well done.
0:09:16 > 0:09:19The successful bid of ?72,000,
0:09:19 > 0:09:21at double the upper end of the guide price,
0:09:21 > 0:09:25came from property developer Jazz, who lives nearby.
0:09:25 > 0:09:29I went along for a chat with him about his latest project.
0:09:29 > 0:09:32# Just a little bit of jazz tonight
0:09:32 > 0:09:34# Makes you feel all right... #
0:09:34 > 0:09:36Jazz, congratulations.
0:09:36 > 0:09:38Thank you. Tell me, what was auction like?
0:09:38 > 0:09:42It was OK. Yeah, I've seen a few properties.
0:09:42 > 0:09:44This one came up.
0:09:44 > 0:09:48I looked at it externally and I got it at the right price.
0:09:48 > 0:09:49Oh, externally?
0:09:49 > 0:09:52So this as the first time you've been inside?
0:09:52 > 0:09:55Yes. That's a Hammer thing not to do, Jazz.
0:09:55 > 0:10:00Be honest with me, when you came inside, because it was the first time, what did you think?
0:10:00 > 0:10:02Did you think I've made the right move?
0:10:02 > 0:10:05I did think, like, "Oh, gosh."
0:10:05 > 0:10:07But, yes, definitely, I love a project.
0:10:07 > 0:10:11The guide price was 29,000 to 34,000.
0:10:11 > 0:10:13You paid 72,000.
0:10:13 > 0:10:16Double the higher estimate of the guide price.
0:10:16 > 0:10:18Talk me through that decision.
0:10:18 > 0:10:21It was just, do the research and, like,
0:10:21 > 0:10:24finding out what prices two-bedroom detached prices
0:10:24 > 0:10:29are going for at that time. They were going for, with the condition of the property, 80, 85,
0:10:29 > 0:10:33but I put a budget on there at 75, which I got it for 72.
0:10:33 > 0:10:34I was more than happy.
0:10:36 > 0:10:38Jazz may not have viewed the property,
0:10:38 > 0:10:39but at least he's done his homework,
0:10:39 > 0:10:42and he was determined to get this place,
0:10:42 > 0:10:44as he has lots of plans for the land itself.
0:10:46 > 0:10:48I want to extend it, like, the back.
0:10:48 > 0:10:50Extend the back out, extend the side it.
0:10:50 > 0:10:53Put a garage, a couple of bedrooms upstairs, one with ensuite.
0:10:53 > 0:10:55Extend the kitchen out.
0:10:55 > 0:10:58And the front garden, back garden, tidy that up a bit.
0:10:58 > 0:11:01OK. And have you looked into that? Have you looked into the planning?
0:11:01 > 0:11:05I've looked into it, and we've got planning in process, which will take six to eight weeks,
0:11:05 > 0:11:07and then, step-by-step, go from there.
0:11:07 > 0:11:10But, Jazz, just what if they say no?
0:11:10 > 0:11:15We'll have to go back to the basics and just as it is, you know,
0:11:15 > 0:11:19to extend the bathroom out and to put a new kitchen in,
0:11:19 > 0:11:22and then just have it out as it is.
0:11:22 > 0:11:25You've got a plan B? Yeah, we've got a plan B.
0:11:25 > 0:11:27And what's your overall budget?
0:11:27 > 0:11:30Budget to extend it? 60?
0:11:30 > 0:11:3460,000 to extend to a four-bed?
0:11:34 > 0:11:39Have you done your research in the local market to see if there's demand for four-bed houses.
0:11:39 > 0:11:40There is indeed, yeah.
0:11:40 > 0:11:45There's schools, local shops, a lot of population, yeah.
0:11:45 > 0:11:49A lot of three, four beds, and they're going for, like, decent prices.
0:11:49 > 0:11:51What's your feeling for what you could get for a four-bed?
0:11:51 > 0:11:54I feel that I could get for a four-bed about 199,
0:11:54 > 0:11:56near enough to 200,000.
0:11:56 > 0:12:00So, with your 72 paid price, and your 60,000 budget?
0:12:00 > 0:12:0460. OK, you're looking at a healthy profit.
0:12:04 > 0:12:05I hope so.
0:12:08 > 0:12:10Well, Jazz, I hope so, too.
0:12:10 > 0:12:14And as long as he can stick to the budget and six-month timescale,
0:12:14 > 0:12:17turning a decent profit should be feasible.
0:12:17 > 0:12:21Although he's keeping his options open when it comes to this the finished article.
0:12:22 > 0:12:26When the time comes I will consider like renting or, like, yeah, selling.
0:12:26 > 0:12:27Whatever suits me.
0:12:27 > 0:12:29OK, so you've got an open mind?
0:12:29 > 0:12:33Yes, I have. So, you didn't look inside, but you did lots of things right.
0:12:33 > 0:12:35Thank you.
0:12:35 > 0:12:37I did my research. I read all the pack.
0:12:37 > 0:12:39And do you have the right people, you think?
0:12:39 > 0:12:42You have the experience. Yeah, I've got a few people.
0:12:42 > 0:12:43I've got a few builders in mind.
0:12:43 > 0:12:47And how much of a role will you play in the development?
0:12:47 > 0:12:50Not much. Not much at all!
0:12:50 > 0:12:53Jazz, best of luck, I can't wait to see what to do with the place.
0:12:53 > 0:12:54Thank you.
0:12:57 > 0:13:00So, Jazz has some pretty big plans to turn this property around,
0:13:00 > 0:13:03but right now his ideas lie in the hands of planners,
0:13:03 > 0:13:06and of course getting that all-important permission.
0:13:06 > 0:13:10How will he get on? Join us later in the programme to find out.
0:13:13 > 0:13:17Lucy is in the county nicknamed the Garden of England.
0:13:17 > 0:13:19Yes, Kent.
0:13:20 > 0:13:24She's five miles from Maidstone, surrounded by lovely countryside.
0:13:24 > 0:13:29This is the characterful village of Nettlestead Green.
0:13:30 > 0:13:34Now, the cars do hurtle along this road,
0:13:34 > 0:13:37but this is a lovely semirural spot,
0:13:37 > 0:13:40and it's a stone's throw from the local pub.
0:13:40 > 0:13:43Now, the property I'm here to see is a two-bed semi.
0:13:43 > 0:13:48It had a guide price of ?185,000 to ?195,000.
0:13:48 > 0:13:50It's so lovely looking from the outside.
0:13:50 > 0:13:53It's got yellow roses around the door.
0:13:53 > 0:13:55I'm really happy!
0:13:57 > 0:14:01Now, just before I go through the front door, look what I found.
0:14:01 > 0:14:04It's a well! I am going to make a quick wish.
0:14:04 > 0:14:06Wish me well.
0:14:06 > 0:14:08# By the wishing well
0:14:08 > 0:14:11# By the wishing well... #
0:14:13 > 0:14:15Well, the character features aren't jumping out at me
0:14:15 > 0:14:19but you do get that very cottagey, homely feeling
0:14:19 > 0:14:21as soon as you walk in.
0:14:21 > 0:14:22Quite low ceilings.
0:14:22 > 0:14:24Good news is here we've got double glazing,
0:14:24 > 0:14:27which is great because it's quite a noisy road out there.
0:14:27 > 0:14:32And this little inglenook fireplace here, with some marble on the top.
0:14:32 > 0:14:34It all needs decorating, you can see.
0:14:34 > 0:14:36A bit dated here,
0:14:36 > 0:14:40and the room has been split up into two separate little areas.
0:14:40 > 0:14:42There's obviously the lounge area and then the kitchen.
0:14:42 > 0:14:45But again, it is really, really small.
0:14:45 > 0:14:47You could do with having new units.
0:14:47 > 0:14:52So, unless you extend, you are stuck with quite a small cottage.
0:14:52 > 0:14:54But if that's the sort of thing you like,
0:14:54 > 0:14:57then this could be a really nice, homely home for you.
0:15:00 > 0:15:03Off the kitchen is a lean-to conservatory,
0:15:03 > 0:15:06which doesn't look in too bad condition even though
0:15:06 > 0:15:07it's single glazed.
0:15:07 > 0:15:10And at the back of the house is a narrow staircase.
0:15:12 > 0:15:14Seriously, the treads are like...
0:15:14 > 0:15:15Well, look! This big!
0:15:15 > 0:15:18And I've only got a size four and half a foot
0:15:18 > 0:15:21and I'm finding that I'm having to turn to the side
0:15:21 > 0:15:23to get up the stairs.
0:15:23 > 0:15:24It's not jolly well easy, you know.
0:15:24 > 0:15:26Excuse me.
0:15:28 > 0:15:31On this level is a family bathroom and a large double bedroom
0:15:31 > 0:15:33with wardrobe space.
0:15:37 > 0:15:39There's a narrow corridor in front of the bathroom
0:15:39 > 0:15:43which leads to another narrow stairway to the attic level.
0:15:47 > 0:15:51Here, there's another large bedroom with disappointing views.
0:15:51 > 0:15:55There are also signs of damp at the apex.
0:15:55 > 0:15:57Time to look at the garden.
0:15:57 > 0:16:02So, outside into this pretty little courtyard garden.
0:16:02 > 0:16:04Little outbuilding here.
0:16:04 > 0:16:07Really ideal for the morning sun
0:16:07 > 0:16:09and table and chairs, a bit of breakfast.
0:16:09 > 0:16:11You can hear the wildlife.
0:16:11 > 0:16:13It's really, really lovely.
0:16:13 > 0:16:16But that's not it, because there's more.
0:16:16 > 0:16:18This way.
0:16:18 > 0:16:21# I walked across
0:16:21 > 0:16:24# An empty land
0:16:24 > 0:16:28# I knew the pathway like the back of my hand... #
0:16:28 > 0:16:30CHUCKLES This is crazy!
0:16:30 > 0:16:33This is the garden that just keeps on giving.
0:16:33 > 0:16:34Look at this!
0:16:34 > 0:16:36It's another secret little garden.
0:16:36 > 0:16:39Who would ever know this is here?
0:16:39 > 0:16:40How fantastic!
0:16:40 > 0:16:43I mean, this is a plot of land in itself.
0:16:43 > 0:16:45You've got a lovely little pond. Well, it's not lovely.
0:16:45 > 0:16:48You could do something with that and it could look spectacular.
0:16:48 > 0:16:52And not only that, you've got all of this through here.
0:16:52 > 0:16:54There's so much space!
0:16:54 > 0:16:58And what do I love is that you can just smell the log fires burning
0:16:58 > 0:16:59in the air.
0:16:59 > 0:17:01Oh, I love the countryside.
0:17:02 > 0:17:06And the countryside is a very different market to the city.
0:17:06 > 0:17:10So, I invited along a local estate agent to get his views on the property,
0:17:10 > 0:17:13its prospects and potential values.
0:17:15 > 0:17:18Nettlestead Green is a nice location.
0:17:18 > 0:17:21Obviously you have good links into the local towns as well.
0:17:21 > 0:17:23You're quite close by to West Malling, Maidstone
0:17:23 > 0:17:27and then obviously the links to London and the motorways.
0:17:27 > 0:17:31What changes to the property would the agent make?
0:17:31 > 0:17:32In terms of reconfiguration,
0:17:32 > 0:17:36I think you'd potentially like to put a third bedroom here to maximise
0:17:36 > 0:17:38the revenue potential.
0:17:38 > 0:17:43I think that having a third bedroom will increase the asking price of this house.
0:17:43 > 0:17:45And what about the potential in the garden?
0:17:45 > 0:17:49I mean, my thoughts of the garden first of all, it just keeps going and going.
0:17:49 > 0:17:51You sort of walk round the corner and there's more of it.
0:17:51 > 0:17:55So, utilising that space is a necessity in my opinion.
0:17:55 > 0:17:58There's so much that you could do potentially towards the rear of the
0:17:58 > 0:18:00garden, with maybe an outbuilding
0:18:00 > 0:18:03or something along the lines of that.
0:18:03 > 0:18:10Guided at ?185,000 to ?195,000 what could the property fetch after
0:18:10 > 0:18:12refurbishment to a higher standard?
0:18:12 > 0:18:15As a two-bed dwelling I believe this property would sell somewhere in the
0:18:15 > 0:18:18region of ?280,000 to ?300,000.
0:18:18 > 0:18:21If you were to extend this property I feel it would be worth somewhere
0:18:21 > 0:18:24in the region of ?350,000.
0:18:24 > 0:18:28Potentially pushing that figure depending on the renovation works.
0:18:28 > 0:18:32I really like this cottage with all its character and the added bonus of
0:18:32 > 0:18:34this lovely garden.
0:18:34 > 0:18:38Yes, it's small and it does need updating and ideally it could do
0:18:38 > 0:18:42with an extension but I think it could be a really pretty home for someone.
0:18:42 > 0:18:46So, who's ready to dip their toe in the water and turn this place around?
0:18:46 > 0:18:48Let's head to auction and find out.
0:18:51 > 0:18:53I've got a guide of 185, 195.
0:18:53 > 0:18:56Start me where you will. 185 to start me.
0:18:56 > 0:18:58180, then.
0:18:58 > 0:18:59180 I have, thank you.
0:18:59 > 0:19:02?180,000 is bid.
0:19:02 > 0:19:06At ?180,000 I have, take five to keep moving.
0:19:06 > 0:19:07185.
0:19:07 > 0:19:11And 190. 190. 195. 195.
0:19:11 > 0:19:13And 200. 200 is bid.
0:19:13 > 0:19:15And 205.
0:19:15 > 0:19:18Unfortunately, as big as that smile is, you're still out.
0:19:18 > 0:19:22At ?200,000 on my left-hand side, gentleman's bid.
0:19:22 > 0:19:28The bidding continued at a pace to where we rejoin at 228,000.
0:19:28 > 0:19:31228. 230 is bid.
0:19:31 > 0:19:35232. At 230 then, for the first time.
0:19:35 > 0:19:38At 230. 230
0:19:38 > 0:19:39for the second time.
0:19:39 > 0:19:42230, third and final time.
0:19:42 > 0:19:44Gentleman's bid, are you all done?
0:19:44 > 0:19:46Sold at 230.
0:19:46 > 0:19:51The successful bid of 230,000 came from retired refrigerator engineer
0:19:51 > 0:19:55Peter at the auction with his wife, Jackie.
0:19:57 > 0:19:59This is their third development project.
0:20:01 > 0:20:05The first proved a steep learning curve but they got into their stride
0:20:05 > 0:20:07with the second, which they've sold on.
0:20:07 > 0:20:11They live about 15 miles away from this, their third purchase.
0:20:11 > 0:20:14And Lucy met them at the house to find out more.
0:20:14 > 0:20:16Jackie and Peter, congratulations.
0:20:16 > 0:20:18Thank you. Thank you. Jackie, what do you like?
0:20:18 > 0:20:21When you walk in through the front door, how does it make you feel?
0:20:21 > 0:20:24It was cosy, it's welcoming.
0:20:24 > 0:20:27Yeah, I think the only problem I have with the stairs, I think.
0:20:27 > 0:20:31The stairs? OK, I've got to say I struggled getting up and down those stairs.
0:20:31 > 0:20:34Yes. They're very tight. But there's nothing I don't think you can do about that.
0:20:34 > 0:20:39Well, if I get a little extension and all this wall comes out here,
0:20:39 > 0:20:43then we could maybe put a new staircase in, for this level anyway.
0:20:43 > 0:20:45I don't think the other stairs are as tight.
0:20:45 > 0:20:49So Peter, you've just told me that you're planning on an extension here.
0:20:49 > 0:20:52I'd really love to put a double extension on it...
0:20:52 > 0:20:53Yeah. To give me a third bedroom.
0:20:53 > 0:20:55Yeah.
0:20:55 > 0:20:59And extend the roof out from the top bedroom, make it an en-suite.
0:20:59 > 0:21:02Wow. It'll be lovely. Is this going to be a home for yourselves?
0:21:02 > 0:21:05We'd love to in the end but I think,
0:21:05 > 0:21:07won't know that until halfway through.
0:21:07 > 0:21:11But you've got that surprise plot of land just around the corner.
0:21:11 > 0:21:14Now, what are you going to do with that? What can you do with that?
0:21:14 > 0:21:16I think it'll be a nice log cabin.
0:21:16 > 0:21:19Yes. A big log cabin, to caravan standards.
0:21:19 > 0:21:20Yeah. When I say that,
0:21:20 > 0:21:23you don't have to have so much planning permission for that.
0:21:23 > 0:21:27If somebody bought this and they had kids still at home,
0:21:27 > 0:21:3030-year-olds or whatever, that couldn't afford to get mortgage,
0:21:30 > 0:21:32it might be a granny annexe...
0:21:32 > 0:21:36Yeah. Or for a son or a daughter or the pair of them to actually get
0:21:36 > 0:21:38away from mum and dad. That's the ideas that I've got.
0:21:38 > 0:21:41Whether that'll come to fruition's another thing, so.
0:21:41 > 0:21:44I'm sure there are lots of families out there thinking exactly that.
0:21:44 > 0:21:47That'll be an ideal situation for us. Yeah.
0:21:47 > 0:21:50What sort of budget have you guys got? Have you thought about it?
0:21:50 > 0:21:53Just under 60. OK, ?60,000 to do the complete works here.
0:21:53 > 0:21:57Yeah, here. To change everything... Yeah, yeah. To expand, to go up.
0:21:57 > 0:21:59What about the wishing well? Have you made your wish yet?
0:21:59 > 0:22:02No. Not yet. I've got to make a bit of an issue of that.
0:22:02 > 0:22:06I think that... Keep that, I'd like to keep that and make something of it. I mean, how lovely is that?
0:22:06 > 0:22:09You can't wipe the smile off your face, actually,
0:22:09 > 0:22:12I've got to say you do look so delighted that you've got this.
0:22:12 > 0:22:14Yeah, absolutely.
0:22:14 > 0:22:17A big drawback for me though, and I'm going to be honest here, is the road out the front.
0:22:17 > 0:22:19Yeah, yeah. Because that is quite busy.
0:22:19 > 0:22:22I mean, you know, the cars literally whizz past.
0:22:22 > 0:22:24A bit of triple glazing.
0:22:24 > 0:22:27As far as the speed that the cars go,
0:22:27 > 0:22:30I think something will be done about that in the future.
0:22:30 > 0:22:32But saying that, haven't you got amazing views out there?
0:22:32 > 0:22:34Yeah, it's lovely. Beautiful countryside.
0:22:34 > 0:22:38So, if you look above the cars, you can just see, you know, fields and beyond, can't you?
0:22:38 > 0:22:41That's it, absolutely. That's obviously a main reason for
0:22:41 > 0:22:45buying it as well. So, and it quietens down at night.
0:22:45 > 0:22:47It's a lovely house.
0:22:47 > 0:22:51Are you prepared to be losing your husband to a lot of time spent here?
0:22:51 > 0:22:53I think it's going to be a few...
0:22:53 > 0:22:57A few, "Surely you haven't got to go back down there today."
0:22:57 > 0:22:59Yeah. So, he does put his heart and soul into it?
0:22:59 > 0:23:01Absolutely he does. He's brilliant.
0:23:01 > 0:23:03I can't sit about for too long.
0:23:03 > 0:23:05Well you've certainly got a project here.
0:23:05 > 0:23:07Yeah. You've got to turn this place around.
0:23:07 > 0:23:11You've got to get permission, you've got to decorate it, you've got to build it. Yeah.
0:23:11 > 0:23:14Think of something amazing to do with that little plot out the back.
0:23:14 > 0:23:16Yeah. And what timescale have you given yourself?
0:23:16 > 0:23:17I'm looking at a year.
0:23:17 > 0:23:20A year, so. I think it's going to take two to three months
0:23:20 > 0:23:23for planning permission, and that could be refused anyway.
0:23:23 > 0:23:25So, how well do you two know this area?
0:23:25 > 0:23:27Well, I met Jackie down this way.
0:23:27 > 0:23:32Oh! She had a boat and I bought a boat a couple years after,
0:23:32 > 0:23:34and that's how we got to know each other.
0:23:34 > 0:23:38Jackie was down one end, and I was up at the other end.
0:23:38 > 0:23:40So... So, there's a romantic link.
0:23:40 > 0:23:43Yeah. I love it! It gets even better!
0:23:43 > 0:23:45That's why you've got the wishing well and the roses around the door!
0:23:45 > 0:23:48Absolutely. The romantic story ends here!
0:23:48 > 0:23:51We're married now, aren't we dear? Oh, yeah. Married now. We are.
0:23:51 > 0:23:53It's coming up about two years of marriage now, so...
0:23:53 > 0:23:56Two years. So, it's quite a recent... Oh, absolutely, yeah.
0:23:56 > 0:23:59..affair of lovely, happiness... Yeah. Two years, wow!
0:23:59 > 0:24:00That is such a lovely story.
0:24:00 > 0:24:03Look, guys, you've got so much to be thinking about,
0:24:03 > 0:24:05so much to be getting on with, good luck with this.
0:24:05 > 0:24:08Thank you. Thank you very much, Lucy. Lovely to meet you.
0:24:08 > 0:24:10Thank you. Jackie, lovely to meet you.
0:24:12 > 0:24:16Well, it certainly seems like Peter and Jackie's wishes have come true.
0:24:16 > 0:24:19They seem thrilled about buying this little cottage,
0:24:19 > 0:24:24but now all the hard work starts and what will we return to see?
0:24:24 > 0:24:26A single or a double storey extension?
0:24:26 > 0:24:29Who knows! Maybe even a log cabin out the back.
0:24:31 > 0:24:33Careful what you wish for, Lucy.
0:24:36 > 0:24:38Coming up, I'm afraid I've got some bad news
0:24:38 > 0:24:41at this house in Stoke-on-Trent.
0:24:41 > 0:24:44You are not going to get a high street mortgage for this property.
0:24:44 > 0:24:46No chance.
0:24:48 > 0:24:51And find out if everything went well for Peter and Jackie
0:24:51 > 0:24:53at their cottage renovation.
0:24:58 > 0:25:01Time now to head back to Bilston,
0:25:01 > 0:25:04where I saw a detached house that was chock-full
0:25:04 > 0:25:06of many dated ceiling coverings.
0:25:06 > 0:25:10And here, well you have a kitchen which has a cheek at calling itself a kitchen
0:25:10 > 0:25:13because, really, it's only a sink and a cooker.
0:25:13 > 0:25:15So, that would need to come out.
0:25:15 > 0:25:19You also have a little toilet, which is good news on the ground floor.
0:25:19 > 0:25:24But that good news soon turned bad once I got upstairs.
0:25:24 > 0:25:27OK. That's the bathroom and it is actually a bathroom.
0:25:27 > 0:25:30There's no toilet in there and it's pretty cramped.
0:25:30 > 0:25:33You could think about getting rid of the bunker to put in a toilet,
0:25:33 > 0:25:35but you are squished for space.
0:25:35 > 0:25:39The kitchen and bathroom are supposed to be practical spaces,
0:25:39 > 0:25:42but in this house what was on offer was practically a joke,
0:25:42 > 0:25:44or a practical joke.
0:25:44 > 0:25:46So, there was a lot to think about.
0:25:46 > 0:25:50Donning his thinking cap was property developer Jazz,
0:25:50 > 0:25:52who paid ?72,000 for the house.
0:25:52 > 0:25:57And he reckoned he had a solution to the house's quirky proportions.
0:25:57 > 0:26:00I want to extend it, like the back.
0:26:00 > 0:26:03So, extend the back out, extend the side out, put a garage.
0:26:03 > 0:26:05Couple of bedrooms upstairs, one with an en-suite.
0:26:05 > 0:26:08OK, and have you looked into that? Have you looked into the planning?
0:26:08 > 0:26:12I've looked into it, and we've got planning in process which will take six to eight weeks.
0:26:12 > 0:26:15And then step-by-step go from there.
0:26:15 > 0:26:18But Jazz... Yeah. Just what if they say no?
0:26:18 > 0:26:20We'll have to go back to the basics.
0:26:20 > 0:26:24So, it's time to see if Jazz managed to get that planning permission for
0:26:24 > 0:26:27the extension because we're heading back eight months later.
0:26:27 > 0:26:31Although the exterior and garden are looking much better,
0:26:31 > 0:26:35the planned extension didn't go ahead as Jazz was quoted
0:26:35 > 0:26:39up to his entire 60 grand budget for the extension alone.
0:26:39 > 0:26:43Rightly, he didn't feel like it was worth the risk of spending more and
0:26:43 > 0:26:45extending himself financially.
0:26:45 > 0:26:50However, don't be too disappointed because plan B is pretty good.
0:26:52 > 0:26:56He may have simplified the plan and gone back to basics
0:26:56 > 0:26:58but it's still stylish and modern.
0:26:58 > 0:27:01# Bring it back to basics
0:27:01 > 0:27:05# You and I, I, I will make it right
0:27:05 > 0:27:09# Let's get back to basics
0:27:09 > 0:27:14# Bring it back, back to basics... #
0:27:14 > 0:27:18Yes, the whole property has been gutted and taken back to the brick
0:27:18 > 0:27:22before having a new central heating system and electrics put in.
0:27:22 > 0:27:26The entire house has been refloored, which sorted that woodworm issue,
0:27:26 > 0:27:29and has been carpeted, or tiled, where appropriate.
0:27:33 > 0:27:38Upstairs, that poky little bathroom without a loo has seen big changes.
0:27:43 > 0:27:48It's had part of the wall removed to gain that extra bit of room needed here.
0:27:48 > 0:27:53And although Jazz might not have got the extra two bedrooms he wanted up
0:27:53 > 0:27:58here, the two he has are bright, fresh and ready to move into.
0:27:58 > 0:28:03Well, almost, as one does need a slight touch-up,
0:28:03 > 0:28:07as despite not extending, not everything here has been straightforward.
0:28:10 > 0:28:13After the complete refurb we started to get leaks around the chimney
0:28:13 > 0:28:16breasts, the ceiling started to get damp patches.
0:28:16 > 0:28:18It was a bit of a nightmare to be honest.
0:28:18 > 0:28:21It was like banging my head against the wall to tell you the truth.
0:28:25 > 0:28:28Once he was done banging his head off the wall,
0:28:28 > 0:28:32Jazz got some professionals in to do a bang up job.
0:28:32 > 0:28:35So, we got the roofer involved, we had all the ridge tiles brand-new,
0:28:35 > 0:28:39replaced. With the chimneys as well, they was in a right state,
0:28:39 > 0:28:41we had to have them repointed.
0:28:41 > 0:28:45We had the broken tiles replaced, we had the roof checked inside.
0:28:45 > 0:28:49We had the replastering done again and a couple of the bedrooms,
0:28:49 > 0:28:51we had them painted back to the original.
0:28:51 > 0:28:54But it's all A1 now, it's all good to go.
0:28:55 > 0:28:59Jazz and his team of regular tradesmen were finished within five months,
0:28:59 > 0:29:05but the leaky roof delay has meant that it's taken a further three months to be ready to move into.
0:29:05 > 0:29:09With all the delays, who can really say if Jazz would have been better
0:29:09 > 0:29:13off going for the full four-bed double storey extension?
0:29:13 > 0:29:16Maybe we'd still have been waiting to see the finished product.
0:29:18 > 0:29:20I have changed my mind for the property extension.
0:29:20 > 0:29:26So, it's like, either gamble my money or the way I thought was just,
0:29:26 > 0:29:29refurb the house, get what I can out.
0:29:29 > 0:29:32Because I did at the time think, "Oh, I'm going to make nothing."
0:29:32 > 0:29:35But luckily I'm very, very happy with it.
0:29:35 > 0:29:39I've done everything to, like, you know, A-spec, and, yeah,
0:29:39 > 0:29:41very happy indeed.
0:29:41 > 0:29:46That A1-spec Jazz is pleased with cost him ?30,000 to achieve.
0:29:46 > 0:29:50Adding that and nine grand worth of legal and auction fees
0:29:50 > 0:29:57to his ?72,000 purchase price brings his total spend here to ?111,000.
0:29:57 > 0:30:01Let's find out if two local estate agents think it's all been worth it.
0:30:01 > 0:30:05First impressions of the property, it's been done to a high standard.
0:30:05 > 0:30:08It's nice and clean and neutral, ready for someone to move into it.
0:30:08 > 0:30:11The layout works. You've got a good-sized driveway.
0:30:11 > 0:30:14You come into the property, you've got the entrance lobby,
0:30:14 > 0:30:17the lounge, the kitchen area, so it flows through.
0:30:17 > 0:30:19The layout then for the property on the outside,
0:30:19 > 0:30:22you've got further parking, potential for a garage,
0:30:22 > 0:30:27and possibly potential certainly for conservatory or extension like that.
0:30:27 > 0:30:29So the layout is good.
0:30:29 > 0:30:34But what about getting the lay of the land when it comes to those sales figures?
0:30:34 > 0:30:37The sales valuation as it is would be for ?130,000.
0:30:37 > 0:30:40For a sales valuations going on the market,
0:30:40 > 0:30:43I'd put this on at an asking price of ?135,000.
0:30:43 > 0:30:49The top value there would give Jazz a pre-tax profit of ?24,000.
0:30:49 > 0:30:51So, how does he feel about that?
0:30:51 > 0:30:53Gutted.
0:30:55 > 0:30:58Gutted? Why?
0:30:58 > 0:31:01When I originally added value they was saying put it on the market
0:31:01 > 0:31:05like 125. And 130, 135, if I'd known that,
0:31:05 > 0:31:08I would have put it a bit more. Yeah. That's why I'm gutted.
0:31:10 > 0:31:14Ah, yes, Jazz has had the house on the market already,
0:31:14 > 0:31:19and has actually accepted an offer of ?129,000 for it.
0:31:19 > 0:31:23So, maybe he could have squeezed a little bit more out of the house.
0:31:23 > 0:31:27But would he have gotten more had he gambled on that extension,
0:31:27 > 0:31:33which could have taken his total spend here to upwards of ?171,000?
0:31:33 > 0:31:38As a four-bedroom property, it would be around ?160,000 to ?165,000.
0:31:38 > 0:31:40As a four-bedroom property,
0:31:40 > 0:31:45I'd expect the property to be an asking price in the region of ?170,000.
0:31:45 > 0:31:48Yeah, I'm happy that I went with option B
0:31:48 > 0:31:51If I went with option A, I would have made a huge loss.
0:31:51 > 0:31:55Jazz did a sensible thing here by not extending the house,
0:31:55 > 0:31:58and he didn't extend himself too much either.
0:31:58 > 0:32:02With an 18 grand pre-tax profit on its way
0:32:02 > 0:32:04he's got every reason to feel chaffed.
0:32:04 > 0:32:07If I drive past the house in the future,
0:32:07 > 0:32:09I will definitely drive past with a big smile.
0:32:15 > 0:32:18We are in Etruria, an area of Stoke-on-Trent
0:32:18 > 0:32:22that started life as a purpose-built factory village.
0:32:22 > 0:32:27It was created by famous potter Josiah Wedgwood in the 1770s as
0:32:27 > 0:32:30home for his specialist workforce.
0:32:30 > 0:32:32Wedgwood's mill may be long gone,
0:32:32 > 0:32:36but his village has become a residential suburb of Stoke,
0:32:36 > 0:32:38consisting of mainly terrace houses.
0:32:40 > 0:32:43So we are half a mile away from Wedgwood's old house,
0:32:43 > 0:32:47and not far from a modern retail park as well.
0:32:47 > 0:32:50The property I'm here to see is a terrace house, it's got two bedrooms,
0:32:50 > 0:32:53and a guide price of 39,500.
0:32:53 > 0:32:55Let's get inside and take a look.
0:32:58 > 0:33:00Right.
0:33:01 > 0:33:03Off the street, straight into the first reception room
0:33:03 > 0:33:06and you've got this over here.
0:33:06 > 0:33:07It is...
0:33:07 > 0:33:10It looks new but it's pretty old-fashioned and dated,
0:33:10 > 0:33:12and you've got a gas fire as well.
0:33:13 > 0:33:15I do like sash windows.
0:33:15 > 0:33:18They're quite cool nowadays, but you need some double glazing,
0:33:18 > 0:33:21keep that heat in, keep the noise out.
0:33:21 > 0:33:23Through into the second reception room,
0:33:23 > 0:33:27as you're coming you see these quarry tiles, original quarry tiles.
0:33:27 > 0:33:31And just above my head, you've got an old-fashioned drying rack,
0:33:31 > 0:33:35where you'd wash your clothes and you stick 'em on the drying rack to get dry.
0:33:35 > 0:33:38A little fireplace here. Again, not really in keeping.
0:33:38 > 0:33:41Get rid of that. You want to modernize this place,
0:33:41 > 0:33:43make it look a little bit cool now.
0:33:43 > 0:33:45Into the kitchen.
0:33:45 > 0:33:47And...
0:33:47 > 0:33:49OK, no kitchen in here at all.
0:33:49 > 0:33:51And I'm surprised, cos normally,
0:33:51 > 0:33:53in a house of this style and this period,
0:33:53 > 0:33:57there's normally a bathroom or toilet beyond the kitchen.
0:33:57 > 0:34:01I haven't found one yet.
0:34:01 > 0:34:03# Searching...
0:34:03 > 0:34:07# For that something that I'll never find... #
0:34:07 > 0:34:09If you are not a cash buyer,
0:34:09 > 0:34:13you'll also have to search around for a mortgage for this property before you can say...
0:34:13 > 0:34:18# You're mine... #
0:34:19 > 0:34:21Right now, with no usable kitchen,
0:34:21 > 0:34:25it will make it very difficult to get a standard mortgage.
0:34:25 > 0:34:28You may have to get a specialist bridging loan or put up a higher
0:34:28 > 0:34:31percentage of deposit with the proviso that you put one in.
0:34:33 > 0:34:37So down here just needs to be completely gutted.
0:34:37 > 0:34:41And I'll be pretty gutted if I don't find a bathroom upstairs.
0:34:43 > 0:34:46Right. We have got two bedrooms up here.
0:34:46 > 0:34:47Bedroom one
0:34:47 > 0:34:50and bedroom two.
0:34:50 > 0:34:55But I'm still on the search for that elusive bathroom,
0:34:55 > 0:34:58or even a toilet will do.
0:34:58 > 0:35:02I've looked everywhere for it inside, so it must be...
0:35:02 > 0:35:04No, surely not.
0:35:04 > 0:35:07# I'm a desperate man...
0:35:07 > 0:35:10Desperation is setting in.
0:35:10 > 0:35:12I need to find it!
0:35:12 > 0:35:14# I got to do what I can... #
0:35:14 > 0:35:19So, I've looked and I've looked and I can't find the bathroom or the
0:35:19 > 0:35:21toilet anywhere.
0:35:21 > 0:35:24I'll tell you why, tell you why I can't find it.
0:35:24 > 0:35:26Because it's there.
0:35:26 > 0:35:31Outside, at the bottom of the garden and it's just a toilet.
0:35:31 > 0:35:34What that means is, you are not going to get a high street mortgage
0:35:34 > 0:35:37for this property. No chance.
0:35:37 > 0:35:40How can you solve it? Right, let's think about this.
0:35:40 > 0:35:42Upstairs, you've got two bedrooms.
0:35:42 > 0:35:46You could take a little bit of one of the bedrooms
0:35:46 > 0:35:48and create a bathroom up there.
0:35:48 > 0:35:52Or you could do what a lot of the neighbours have done and
0:35:52 > 0:35:54extend out the back here.
0:35:54 > 0:35:57So you could come off this...
0:35:57 > 0:36:02This wall here, bring it out here, create a nice downstairs bathroom.
0:36:02 > 0:36:05That would be the way I would go.
0:36:05 > 0:36:08You've got to get that bathroom on the inside of the house.
0:36:10 > 0:36:13# But I'm on the outside
0:36:13 > 0:36:16# I'm looking in
0:36:16 > 0:36:20# I can see through you
0:36:20 > 0:36:23# See you, the real you... #
0:36:25 > 0:36:28Time to see what an agent from the auction house that marketed the
0:36:28 > 0:36:31property thinks of our bathroom conundrum.
0:36:31 > 0:36:33Where would he like to see it added?
0:36:33 > 0:36:37I think the best thing to do would be to extend the ground floor to the
0:36:37 > 0:36:40rear to have a decent-sized bathroom.
0:36:40 > 0:36:42There's only two bedrooms upstairs,
0:36:42 > 0:36:45so you're kind of limited on the upstairs layout.
0:36:45 > 0:36:47So we are agreed, then.
0:36:47 > 0:36:49But all that work is not going to be cheap.
0:36:49 > 0:36:53Assuming you could get it for around that 39,500 guide price,
0:36:53 > 0:36:55what could it sell for?
0:36:55 > 0:36:58Once you renovated, with the bathroom addition,
0:36:58 > 0:37:02I would anticipate a resale value in the region of ?75,000.
0:37:02 > 0:37:06And for long-term investors, would rental be a good idea?
0:37:06 > 0:37:09The rental demand would be very strong in this area.
0:37:09 > 0:37:14I would anticipate a rental income in the region of ?425 per calendar month.
0:37:15 > 0:37:20So, no bathroom, no indoor toilet, no mortgage.
0:37:20 > 0:37:23So who was the cash buyer when it went under the hammer?
0:37:25 > 0:37:27Start the sale.
0:37:27 > 0:37:31Two-bedroom mid-terraced house in need of modernizing.
0:37:31 > 0:37:3335 will get it going.
0:37:33 > 0:37:35It's all gone quiet. 34 can I say?
0:37:37 > 0:37:4034 bid, thank you.
0:37:40 > 0:37:42At 34,000. We're going once, bid's at 34.
0:37:42 > 0:37:4335? 35.
0:37:43 > 0:37:47You're in now. 35. 36. 37.
0:37:47 > 0:37:4938.
0:37:49 > 0:37:50At ?38,000.
0:37:50 > 0:37:5339 anywhere else?
0:37:55 > 0:37:57Are we all done then at ?38,000?
0:37:57 > 0:37:59?38,000 once, then,
0:37:59 > 0:38:02?38,000 twice, then.
0:38:02 > 0:38:05Just in time, ?39,000.
0:38:05 > 0:38:08At 39. 40?
0:38:08 > 0:38:10Half, he's saying 39,500.
0:38:10 > 0:38:1240? Yep, 40.
0:38:12 > 0:38:14Another half?
0:38:15 > 0:38:19No? At 40,000, right on the front row, no mistakes.
0:38:19 > 0:38:21?40,000 once, then,
0:38:21 > 0:38:23?40,000 twice.
0:38:23 > 0:38:26Third and final time, ?40,000.
0:38:26 > 0:38:29If the successful bidders look familiar, that's because they should.
0:38:29 > 0:38:31# Oh, hello
0:38:31 > 0:38:33# Remember me? #
0:38:33 > 0:38:37Father and son team Tony and Dave have been on the show before.
0:38:37 > 0:38:41They renovated another terrace house in Stoke in early 2017.
0:38:41 > 0:38:45Tony's a joiner and his son, Dave, is a bricklayer.
0:38:45 > 0:38:48So they are the right lads for this job.
0:38:48 > 0:38:52I met up with them again to find out what they have planned for this
0:38:52 > 0:38:55house they paid 40 grand for at auction.
0:38:55 > 0:38:56Dave, good to see you again, pal.
0:38:56 > 0:38:58You too. You too.
0:38:58 > 0:39:01Tony, good to see you. We're like old mates now. Yeah.
0:39:01 > 0:39:03Another house in Stoke, eh? Another one.
0:39:03 > 0:39:06Let's start at the very beginning here. Yeah.
0:39:06 > 0:39:09This place hasn't got a bathroom. What made you buy it?
0:39:09 > 0:39:15Because it's in a good area near the town centre, all the facilities.
0:39:15 > 0:39:17And we'll soon get a bathroom in.
0:39:17 > 0:39:21See that's the thing, you see. Is being positive about it, isn't it?
0:39:21 > 0:39:25Yeah. You've got to be positive. Were you looking for a house like this, a little two up, two down?
0:39:25 > 0:39:26I said something we can improve.
0:39:26 > 0:39:28Who's going to... Who's going to oversee that?
0:39:28 > 0:39:32Who's going to be... Who's going to be site foreman?
0:39:32 > 0:39:34Well... Is that you?
0:39:34 > 0:39:35Well, both, really, but he's big boss.
0:39:35 > 0:39:39Oh, I see. I do not know a lot, but I know of blokes who do.
0:39:39 > 0:39:42And they'll just come in and do the work for you. That's it.
0:39:42 > 0:39:45OK, so tell us about this place, then.
0:39:45 > 0:39:47What are you going to do to it?
0:39:47 > 0:39:50It's got no bathroom, we don't really intend building on.
0:39:50 > 0:39:53OK. So you're not doing... We're not building extension. OK.
0:39:53 > 0:39:55We improve what's here.
0:39:55 > 0:39:59Tell us where the bathroom's going. In there. Where the kitchen is now.
0:39:59 > 0:40:02OK, so... And then we'll turn this into a kitchen. Kitchen-diner.
0:40:02 > 0:40:04OK. OK, so...
0:40:04 > 0:40:06OK, so the kitchen's coming in here.
0:40:06 > 0:40:08Yeah. Kitchen-diner in here. Yeah.
0:40:08 > 0:40:10And there's going to be your bathroom.
0:40:10 > 0:40:12The bathroom. Bathroom utility room.
0:40:12 > 0:40:15What made you not want to extend? Was it money, or...?
0:40:15 > 0:40:17It's cost, really.
0:40:17 > 0:40:20And time, as well. It all takes time.
0:40:20 > 0:40:24More a quick turnaround. Yeah, yeah, of course.
0:40:24 > 0:40:26The less we make. Exactly.
0:40:26 > 0:40:28See that's why he's the boss, you see?
0:40:28 > 0:40:31That's why he's the boss. He makes sensible decisions. Yeah.
0:40:31 > 0:40:34Anything else in here that you want to change?
0:40:34 > 0:40:35Anything else surprised you?
0:40:35 > 0:40:37Anything you're worried about?
0:40:37 > 0:40:39The windows will have to be changed.
0:40:40 > 0:40:42The floors seem pretty good.
0:40:42 > 0:40:45But decorator concerns...
0:40:45 > 0:40:47You know, a lot of people do their own decorating. Yeah.
0:40:47 > 0:40:50Big mistake. Yeah. Yeah, that's it. Yes. Get the crows in.
0:40:50 > 0:40:52Get the crows in, get it done. Well, it's what you see, isn't it?
0:40:52 > 0:40:56Exactly, exactly. You know, it's then product.
0:40:56 > 0:41:00They make a good job and then somebody comes in and bodges the paintwork. Changes it again.
0:41:00 > 0:41:03How long's it going to take you, then, to turn this around?
0:41:03 > 0:41:05Well, I should reckon about three, four months. OK.
0:41:05 > 0:41:10Cos, you know, lads, sometimes they're tied up on a job.
0:41:10 > 0:41:13And we'll just have to wait, same as everybody else. OK.
0:41:13 > 0:41:16Or if we find something unexpected that we didn't notice in the first
0:41:16 > 0:41:19viewing. So... There's always something.
0:41:19 > 0:41:22Gotcha. And what about the budget?
0:41:22 > 0:41:25Give or take, about 12 to 15,000.
0:41:25 > 0:41:28OK. Should be... Should do it. It should be enough, shouldn't it?
0:41:28 > 0:41:29Yeah.
0:41:29 > 0:41:32Tony and son Dave have plenty of experience,
0:41:32 > 0:41:35and like the last property of theirs we featured on the show,
0:41:35 > 0:41:39they seem to have found a formula of using the existing footprint and
0:41:39 > 0:41:43saving themselves a fortune by not extending.
0:41:43 > 0:41:47Still, that 15 grand budget is going to have to do a lot.
0:41:47 > 0:41:50And what made you come together to get into property?
0:41:50 > 0:41:53We got a bit of ground to the house, and I said to him,
0:41:53 > 0:41:57"Well, this is going to build two houses on that."
0:41:57 > 0:42:00He lived with us, he stays at home still. OK.
0:42:00 > 0:42:04And he built the two houses, and it just come from that, really.
0:42:04 > 0:42:07Really? We've just done jobs on people's houses and stuff,
0:42:07 > 0:42:10but it's only the last four or five years we've started doing...
0:42:10 > 0:42:11Working on just on our own property.
0:42:11 > 0:42:14So you can sort of work at your own pace?
0:42:14 > 0:42:15That's it. Yeah. No pressure.
0:42:15 > 0:42:18No. Are you going to continue to buy more properties,
0:42:18 > 0:42:20add to your portfolio? Oh, yeah.
0:42:20 > 0:42:22Is that the plan? That's the plan.
0:42:22 > 0:42:25OK, so, when you buy your properties, are you buying to rent,
0:42:25 > 0:42:27are you buying to sell, are you buying to...
0:42:27 > 0:42:30For the family? What are you buying for? Mainly to sell.
0:42:30 > 0:42:33But we won't rule out renting either.
0:42:33 > 0:42:35They rent if we cannot sell.
0:42:35 > 0:42:37Yeah. If we cannot sell this, we'll rent it.
0:42:37 > 0:42:39OK. Ultimately want to...
0:42:39 > 0:42:42I do want a portfolio of rental properties but... OK.
0:42:42 > 0:42:45That something to just build over time. Yeah, yeah.
0:42:45 > 0:42:47And then that's it.
0:42:47 > 0:42:50So I can do it without taking on too much borrowing and stuff.
0:42:50 > 0:42:52Slowly, slowly wins the race. That's the one.
0:42:52 > 0:42:55Slowly, slowly wins the race, isn't it? That's it.
0:42:55 > 0:42:58So, wish you all the best. I'm pretty sure it's going to work out.
0:42:58 > 0:43:01Good luck, Dave. Yeah, thank you. Tony, good luck. Take it easy.
0:43:03 > 0:43:06So, Tony and Dave's biggest hurdle is getting that bathroom
0:43:06 > 0:43:08inside the house.
0:43:08 > 0:43:11They're going to turn the kitchen into the bathroom and
0:43:11 > 0:43:14the second reception room into the kitchen-diner.
0:43:14 > 0:43:16How will it look? Will it work?
0:43:16 > 0:43:19You can find out all the answers later in the programme.
0:43:22 > 0:43:25Well, earlier on we saw how one of our properties turned out,
0:43:25 > 0:43:26but what about the other two?
0:43:26 > 0:43:30Have they found it's a breeze, or did their project kick up a storm?
0:43:30 > 0:43:31Let's find out.
0:43:31 > 0:43:35Earlier, Lucy was in the county of Kent for a property in the
0:43:35 > 0:43:39picturesque village of Nettlestead Green.
0:43:39 > 0:43:42She saw this three-storey, two-bedroom semi -
0:43:42 > 0:43:44the type you'd find on a chocolate box.
0:43:44 > 0:43:46So, lovely looking from the outside.
0:43:46 > 0:43:49It's got yellow roses around the door.
0:43:49 > 0:43:50I'm really happy!
0:43:51 > 0:43:55Happiness abounded in this rose-covered cottage.
0:43:55 > 0:43:59Former refrigeration engineer Peter had previously renovated two
0:43:59 > 0:44:03properties, but this time around, it looked like he and wife Jackie
0:44:03 > 0:44:08paid ?230,000 for something that pulled at their heartstrings.
0:44:08 > 0:44:11It's cosy, it's welcoming.
0:44:11 > 0:44:14Erm, yeah, I think our only problem is with the stairs, I think.
0:44:14 > 0:44:16The stairs? OK, I've got to say,
0:44:16 > 0:44:19I struggled getting up and down the stairs. They're very tight,
0:44:19 > 0:44:22but there's nothing, I don't think, you can do about that.
0:44:22 > 0:44:26Well, if I get the extension and all this wall comes out, here,
0:44:26 > 0:44:31then we could maybe put a new staircase, in for this level anyway.
0:44:31 > 0:44:33They were still to decide if they were going to live here
0:44:33 > 0:44:36or possibly sell after refurbishment.
0:44:36 > 0:44:39The good news is that, ten months on, planning permission for
0:44:39 > 0:44:42the cottage extension has eventually been granted.
0:44:42 > 0:44:45However, due to personal circumstances,
0:44:45 > 0:44:47Peter and Jackie decided not to live here.
0:44:51 > 0:44:54But they have put the property back on the market.
0:44:54 > 0:44:57And Peter was eager to take us through the approved plans before
0:44:57 > 0:45:00any potential change of ownership.
0:45:01 > 0:45:05Basically, I got everything I wanted other than the front dormer,
0:45:05 > 0:45:10which would, as far as the Council were concerned, would of taken away
0:45:10 > 0:45:12some of the aesthetics of the property.
0:45:12 > 0:45:16But, literally, I've got about 50% more.
0:45:16 > 0:45:20From that line is a four meter downstairs, which would have given
0:45:20 > 0:45:23a really good kitchen-diner, a lovely lot of size.
0:45:24 > 0:45:27Three meter on the first floor,
0:45:27 > 0:45:30which would give a good-sized bedroom, a third bedroom.
0:45:30 > 0:45:34On the roof, it would have been an en-suite bedroom
0:45:34 > 0:45:36with a shower room and toilet so...
0:45:38 > 0:45:41The extra length of the extension at the back of the house would also
0:45:41 > 0:45:44help with replacing the existing steep staircase,
0:45:44 > 0:45:46which Lucy found a bit precarious.
0:45:49 > 0:45:53Having the extension, I would have extended the stairway into that,
0:45:53 > 0:45:56to bring up to normal specifications now.
0:45:56 > 0:46:01And keep all this front room here, literally, the same.
0:46:01 > 0:46:03Nice wood burner in the hearth, here.
0:46:03 > 0:46:05Keep some of the character of the cottage.
0:46:07 > 0:46:09But Peter hasn't been resting on his laurels.
0:46:09 > 0:46:13He's stripped the first floor bedroom, going back to brick where
0:46:13 > 0:46:15needed, and also the attic bedroom.
0:46:15 > 0:46:18Both are now ready for refurbishment.
0:46:18 > 0:46:21But the main area of work has been in the garden.
0:46:21 > 0:46:25We got a digger in. I played with a digger for about two weeks,
0:46:25 > 0:46:30on and off, and a dumper truck, and lots and lots of skips outside.
0:46:30 > 0:46:34Shifted tonnes and tonnes of earth and concrete and what have you.
0:46:34 > 0:46:37it looks a total mess out there compared to what it did,
0:46:37 > 0:46:41but it's what needed to be done, so...
0:46:41 > 0:46:45All in all, other than playing with the digger and dumper truck,
0:46:45 > 0:46:48which is the first time for me,
0:46:48 > 0:46:49I've quite enjoyed myself out there.
0:46:52 > 0:46:56His original timescale was one year and, apart from planning permission,
0:46:56 > 0:46:59not a lot has changed in ten months.
0:46:59 > 0:47:02I suppose I've done about two and half months' work here.
0:47:02 > 0:47:05All that and nothing to show for it, of course, other than a mess.
0:47:07 > 0:47:12The original budget forecast for 60,000, but what has it ended up at?
0:47:13 > 0:47:16Taking into account council tax and things like that, that I'm sort of
0:47:16 > 0:47:19lumping in, all in all, about 8,000.
0:47:19 > 0:47:23It'll be about 9,000 by the time it sold hopefully, so...
0:47:23 > 0:47:26A lot of the viewings have been from local people.
0:47:27 > 0:47:30I call them tire-kickers - they're just going to have a look.
0:47:30 > 0:47:35If you don't know, a tire-kicker is a term sometimes used by car dealers
0:47:35 > 0:47:39to identify an indecisive customer who is unlikely to purchase.
0:47:39 > 0:47:42But, hopefully, the two estate agents we've asked along to kick the
0:47:42 > 0:47:46tires of Peter's plans for this house will think they've aimed it
0:47:46 > 0:47:47at the right market.
0:47:49 > 0:47:51I like this house. It's really in the country,
0:47:51 > 0:47:54there's lots of parking at the front.
0:47:54 > 0:47:57It's a nice plot, it's an interesting property.
0:47:57 > 0:48:01My initial thoughts of the property is it's a very pretty cottage
0:48:01 > 0:48:06in a fairly rural area, so I think it's got a real, very wide appeal.
0:48:08 > 0:48:11Would it be beneficial if Peter and Jackie had completed the extensions
0:48:11 > 0:48:14or is it better to sell with the added value of planning?
0:48:16 > 0:48:20In its current state, I could foresee, perhaps, a young couple
0:48:20 > 0:48:25purchasing it, maybe even first-time buyer, but someone who has a real
0:48:25 > 0:48:29desire to live in an older property where they want to add
0:48:29 > 0:48:32their own touch to it.
0:48:32 > 0:48:34From the point of view of an investment, I feel that it would
0:48:34 > 0:48:37probably be best just to do it up and sell it as it is,
0:48:37 > 0:48:41rather than go to the expense and time of all the extensions.
0:48:41 > 0:48:45I'm sure Peter will be glad to hear that, and he got some good news only
0:48:45 > 0:48:50last week, bearing in mind his total spend will be 230,000.
0:48:51 > 0:48:55It's been sold for 270,000, so...
0:48:55 > 0:49:00I dropped it twice from the original asking price, which was 300,000,
0:49:00 > 0:49:02so I was a little bit optimistic there.
0:49:02 > 0:49:06So, yeah, subject to contract, it's sold and, hopefully,
0:49:06 > 0:49:09in a couple of months' time, I'll be moving onto the next one.
0:49:09 > 0:49:12Whoa! Before you do that, Peter, let's find out what our guys think.
0:49:12 > 0:49:16Was the potential profit of ?31,000 enough
0:49:16 > 0:49:18or could he have achieved more?
0:49:18 > 0:49:22As the property stands at the moment,
0:49:22 > 0:49:25incomplete in its restoration,
0:49:25 > 0:49:27I would anticipate it selling for something in the region of
0:49:27 > 0:49:31250,000 to ?260,000.
0:49:31 > 0:49:33I think the value of this property, as it stands,
0:49:33 > 0:49:37with the planning permission, is approximately ?275,000.
0:49:37 > 0:49:40Oh, right. OK, so, it's basically spot-on, then.
0:49:40 > 0:49:42Yeah, yeah. No, I'm pleased with that.
0:49:43 > 0:49:46It's a bittersweet time for Peter and Jackie.
0:49:46 > 0:49:50Achieving a decent sale price of 270,000, but not being able to see
0:49:50 > 0:49:55through their dream project, especially since Peter seems to have
0:49:55 > 0:49:57at last found his true vocation.
0:49:57 > 0:50:00Yeah, yeah, I'm quite disappointed.
0:50:00 > 0:50:03We both are, myself and my wife, so...
0:50:03 > 0:50:05But, erm, it's just one of them things not going ahead.
0:50:06 > 0:50:10Peter may have given up on this project, but he's not giving up
0:50:10 > 0:50:12on his new quest.
0:50:12 > 0:50:18I gave up a well-paid job to do this. The first two turned out OK,
0:50:18 > 0:50:20this one is OK,
0:50:20 > 0:50:23could have been better, possibly, but, on the valuations,
0:50:23 > 0:50:25I've done quite well out of it.
0:50:25 > 0:50:30I'll continue to do it and try and continue to earn a profit -
0:50:30 > 0:50:31albeit how big.
0:50:33 > 0:50:36Although it's not what Peter and Jackie had wished for,
0:50:36 > 0:50:40some would say over ?30,000 profit in ten months is good going.
0:50:40 > 0:50:41Any last thoughts, Peter?
0:50:43 > 0:50:46Don't buy with your heart unless you actually do live in it in the end.
0:50:51 > 0:50:54Now, back to Etruria in Stoke-on-Trent, where earlier I saw
0:50:54 > 0:50:57a two-bed terrace with one important room missing
0:50:57 > 0:50:59from the house's interior.
0:50:59 > 0:51:03I can't find the bathroom or the toilet anywhere.
0:51:03 > 0:51:04I tell you why.
0:51:04 > 0:51:06I tell you why I can't find it.
0:51:06 > 0:51:08Because it's there.
0:51:08 > 0:51:12Outside, at the bottom of the garden and it's just a toilet.
0:51:12 > 0:51:16What that means is you are not going to get a high-street mortgage
0:51:16 > 0:51:18for this property - no chance.
0:51:19 > 0:51:23Even so, the property was purchased for just over guide price
0:51:23 > 0:51:25by father-and-son team Tony and Dave.
0:51:26 > 0:51:30With Tony being a joiner and Dave a brickie, they seem to have
0:51:30 > 0:51:33the necessary skills to get that loo inside.
0:51:33 > 0:51:36Tell us where the bathroom's going. Where the kitchen is now.
0:51:36 > 0:51:37OK, so...
0:51:37 > 0:51:40And we'll turn this into a kitchen-diner.
0:51:40 > 0:51:42OK.
0:51:42 > 0:51:44They paid 40 grand for the property.
0:51:44 > 0:51:47They plan to sell on when complete or rent if needed.
0:51:48 > 0:51:49That was ten months ago,
0:51:49 > 0:51:52a few months over their three to four month timescale,
0:51:52 > 0:51:54but now, we're back.
0:51:57 > 0:52:01And also back to brickwork was much of the plasterwork,
0:52:01 > 0:52:05making way for new finishes, tiles, units, flooring.
0:52:05 > 0:52:07But, did the toilet make it inside?
0:52:09 > 0:52:10# Oh, yeah!
0:52:10 > 0:52:12# Give me your love
0:52:12 > 0:52:14# I need it
0:52:14 > 0:52:16# Give me your heart
0:52:16 > 0:52:18# I'm pleading
0:52:18 > 0:52:20# Give me your love
0:52:20 > 0:52:21# I need it
0:52:21 > 0:52:25# Oh-oh yeah
0:52:25 > 0:52:27# Why don't you give me your love? #
0:52:27 > 0:52:30The standard of finish achieved here is really good,
0:52:30 > 0:52:34so the father-and-son team should be proud of the graft they've put in.
0:52:37 > 0:52:39All that remains downstairs is the front room.
0:52:51 > 0:52:54But, have father and son done upstairs proud, too?
0:53:05 > 0:53:09After we first filmed, Dave and Tony had a bit of a shock.
0:53:09 > 0:53:13They discovered the property had a council prohibition order in place.
0:53:13 > 0:53:17This is an order made to protect tenants from dangerous hazards.
0:53:17 > 0:53:20Restrictions can take several forms.
0:53:20 > 0:53:23It could prevent young children or restrict the number of people living
0:53:23 > 0:53:24in the property.
0:53:24 > 0:53:28The order can also stop a house, or part of the house,
0:53:28 > 0:53:30being lived in until it is made safe and habitable.
0:53:32 > 0:53:35Well, I've overcome that by putting the central heating system,
0:53:35 > 0:53:40the kitchen, the inside bathroom and toilet and redecorating
0:53:40 > 0:53:46and bringing it up to a modern standard, and so that order's now
0:53:46 > 0:53:49in the process of being lifted.
0:53:49 > 0:53:53Dave and Tony always intended bringing the house up to scratch,
0:53:53 > 0:53:56so they didn't feel the order was any sort of burden.
0:53:56 > 0:53:59Wisely, Dave consulted the council's empty homes team
0:53:59 > 0:54:01while he was doing the work.
0:54:01 > 0:54:05They told me what I needed to do and I just had to do it,
0:54:05 > 0:54:06and they've been good.
0:54:08 > 0:54:11Dave prioritised work on the other property he bought
0:54:11 > 0:54:15at the same auction, although he did have a good team of tradesmen,
0:54:15 > 0:54:17who worked on both properties.
0:54:17 > 0:54:21I know I've got a good team of blokes who've been working
0:54:21 > 0:54:25on here as well, so if I can't do it there's always someone who can.
0:54:28 > 0:54:32He reckons the concentrated period of time spent renovating here
0:54:32 > 0:54:34works out to around the four month mark.
0:54:35 > 0:54:40So, what about the 12-15 grand optimistic budget forecast?
0:54:43 > 0:54:46Up to now it's about round the 23,000 mark.
0:54:47 > 0:54:51And it shouldn't be much more than that, although we've got a couple
0:54:51 > 0:54:53more bills left to come in.
0:54:53 > 0:54:57The overspend however is mitigated slightly by them getting
0:54:57 > 0:55:00a council grant of ?5,000 for doing up an empty house.
0:55:00 > 0:55:03But, under the terms of the grant, they will have to rent it out
0:55:03 > 0:55:05for two years.
0:55:05 > 0:55:07If you're wondering where Tony is,
0:55:07 > 0:55:10he's had to have a hip replacement, but he has seen the property.
0:55:10 > 0:55:12He liked what he saw.
0:55:14 > 0:55:17He knows what to expect with what we do, so...
0:55:17 > 0:55:19Me and the lads have done a good job so,
0:55:19 > 0:55:20on to the next one.
0:55:22 > 0:55:24Whoa! Hold your horses there, Dave.
0:55:24 > 0:55:27Not until the two local agents we've invited along have their say
0:55:27 > 0:55:31on the property's prospects and the valuations.
0:55:31 > 0:55:34First up, the agent who saw the property before work commenced.
0:55:36 > 0:55:40Since my last visit, it's a complete transformation with the property.
0:55:40 > 0:55:43It's really unrecognisable from the previous condition.
0:55:43 > 0:55:45First impressions of this property are...
0:55:46 > 0:55:50Whoever's done it, has done an absolutely excellent job
0:55:50 > 0:55:53of the refurbishment. Can't fault it at all, in any way.
0:55:54 > 0:56:00Dave and Tony spent ?40,000 at auction and a further 23 grand
0:56:00 > 0:56:04refurbishing, less than council's 5,000 grant, of course.
0:56:04 > 0:56:07That means a total spend of 58 grand.
0:56:07 > 0:56:10To satisfy the grant conditions, they'll have to let out the property
0:56:10 > 0:56:12for at least two years.
0:56:12 > 0:56:15But, if they can sell it, what profit could they realise?
0:56:15 > 0:56:18Because there's only one reception room to the property,
0:56:18 > 0:56:22I would anticipate a resale value in the region of ?70,000.
0:56:22 > 0:56:25Now that this property's been renovated,
0:56:25 > 0:56:29looking at the open market,
0:56:29 > 0:56:33the asking price would be ?69,950.
0:56:33 > 0:56:35That's about what I was expecting.
0:56:35 > 0:56:37I was expecting something about that.
0:56:37 > 0:56:41A gain of 12 grand, but not achievable just yet.
0:56:41 > 0:56:44So, what sort of rental income should they expect?
0:56:44 > 0:56:48Because this is so good,
0:56:48 > 0:56:53it should command a figure of ?425 per calendar month.
0:56:53 > 0:56:55I would anticipate a rental income in the region of
0:56:55 > 0:56:58?450 per calendar month.
0:56:58 > 0:57:02I think that's good. Around 425 is about a good one,
0:57:02 > 0:57:05but 450 would be even better, we can get that.
0:57:05 > 0:57:09Indeed, it would, as taking that top figure equates to an annual rental
0:57:09 > 0:57:12yield of nearly 9.5%.
0:57:12 > 0:57:15So, will it be on the sales market in years to come?
0:57:15 > 0:57:19I'd like to keep it on as a rental one, if I can.
0:57:19 > 0:57:24Selling at a later date's always an option, but I'd preferably keep it
0:57:24 > 0:57:26in my portfolio.
0:57:26 > 0:57:28What's the best bit of the project?
0:57:28 > 0:57:30Well, obviously it feels better now it's done
0:57:30 > 0:57:33and it's ready to start earning.
0:57:33 > 0:57:35Any tips for anyone starting out?
0:57:35 > 0:57:38Whatever you've worked out for your budget, remember there's
0:57:38 > 0:57:42always something else you haven't thought of that you have to pay for.
0:57:42 > 0:57:45So, a budget contingency is Dave's watchword,
0:57:45 > 0:57:48but is it a philosophy he intends to repeat?
0:57:48 > 0:57:51I'll be definitely be back to the auctions. It's a lot faster process,
0:57:51 > 0:57:53and you know where you are with it.
0:57:53 > 0:57:56So, yeah, you'll be seeing me again.
0:57:56 > 0:57:58Well, good luck with the future ones
0:57:58 > 0:58:02and if they do only have an outside loo, maybe a closer check on
0:58:02 > 0:58:05the council prohibition orders might be the order of the day.
0:58:09 > 0:58:13Well, week in, week out, there are property auctions taking place
0:58:13 > 0:58:14all over the UK.
0:58:14 > 0:58:17And we never rest in our research to bring you the new stories.
0:58:17 > 0:58:20Well, on the odd occasion, we have a rest, but, next time here on
0:58:20 > 0:58:24Homes Under The Hammer, we'll have more stories for you - see you then.
0:58:24 > 0:58:25Bye-bye. Goodbye.