0:00:02 > 0:00:04Hello, and welcome to the show.
0:00:04 > 0:00:06Now, I've been in the world of property long enough
0:00:06 > 0:00:08to know that things don't always go to plan.
0:00:08 > 0:00:10Yes, you've got to take the rough with the smooth,
0:00:10 > 0:00:12and everything in between.
0:00:12 > 0:00:15But get it right, and it can be a worthwhile and lucrative experience,
0:00:15 > 0:00:18especially if you try your luck under the hammer.
0:00:44 > 0:00:47Another day, another three properties
0:00:47 > 0:00:48waiting to be transformed.
0:00:48 > 0:00:52But hopefully, it's not just the properties that are transformed,
0:00:52 > 0:00:54but also the lives of the auction buyers.
0:00:54 > 0:00:57Yes, I can't wait to see the plans for their projects and the stories
0:00:57 > 0:01:00- behind each of them.- Yeah, well, we don't have to wait much longer -
0:01:00 > 0:01:03here are the three properties we are featuring on today's show.
0:01:05 > 0:01:09Things are too good to be true at this three-bed terrace in Liverpool.
0:01:09 > 0:01:11What is wrong with this house?!
0:01:12 > 0:01:14Nothing.
0:01:14 > 0:01:19And I'm green with envy at this end terrace in Derbyshire.
0:01:19 > 0:01:22If green is your colour, you might go crazy when it comes to bidding.
0:01:22 > 0:01:23Green is everywhere!
0:01:25 > 0:01:28And I'm rambling in the countryside in Cumbria,
0:01:28 > 0:01:30but looking around this former pub is thirsty work.
0:01:30 > 0:01:34Wonder what time last orders were.
0:01:36 > 0:01:38All these properties have been sold at auction,
0:01:38 > 0:01:41and we'll find out who bought them and what they paid for them
0:01:41 > 0:01:42when they went under the hammer.
0:01:42 > 0:01:44It's gone, it's yours.
0:01:47 > 0:01:52I'm visiting Liverpool, famous of course for the River Mersey,
0:01:52 > 0:01:55The Beatles, and two little local football teams.
0:01:56 > 0:02:00Well, if you're looking for an affordable home or somewhere where
0:02:00 > 0:02:03the buy-to-let model still stacks up financially,
0:02:03 > 0:02:05you are not going to go too far wrong here.
0:02:05 > 0:02:08You've got Anfield football stadium around the corner,
0:02:08 > 0:02:13shops and amenities close by, and this is the house I'm here to see,
0:02:13 > 0:02:18three bedrooms, mid-terrace, guide price, wait for it, 40,000 quid.
0:02:18 > 0:02:21# I'm going down to Liverpool... #
0:02:21 > 0:02:25So for that kind of money, you probably think it's going to be a disaster,
0:02:25 > 0:02:28but you know what? First impressions are not too bad.
0:02:28 > 0:02:31I like the parquet floor, that would be really pleasant it was cleaned up,
0:02:31 > 0:02:33just get a sander and sort that out.
0:02:33 > 0:02:37Stairs, again, if they were stripped back, they would be rather beautiful.
0:02:37 > 0:02:41In its day, I'm sure this would have been a pretty grand house.
0:02:41 > 0:02:43Look at this staircase.
0:02:43 > 0:02:45It's little things like that.
0:02:45 > 0:02:48Yeah, pretty nice. Anyway, interesting layout.
0:02:48 > 0:02:51Two doors, there's one there, that is a bit weird.
0:02:51 > 0:02:53Another one here, and unfortunately...
0:02:55 > 0:02:57Major health and safety advisory here.
0:02:57 > 0:02:59That is not safety glass.
0:02:59 > 0:03:01You fall into that at speed, it would smash.
0:03:01 > 0:03:04Gosh knows what it would do to you.
0:03:04 > 0:03:07So that needs to go, obviously.
0:03:07 > 0:03:09But then continuing the good news into this room,
0:03:09 > 0:03:12more of this parquet flooring. Aren't they beautiful, honestly?
0:03:12 > 0:03:14But, yeah, it is a good-sized front living room,
0:03:14 > 0:03:16and then through to the rear one.
0:03:16 > 0:03:18Rear living room, pretty pleasant as well,
0:03:18 > 0:03:20and again the parquet floor continuing through,
0:03:20 > 0:03:23I really want to see that cleaned up, it would be spectacular.
0:03:23 > 0:03:25And then through into the kitchen.
0:03:25 > 0:03:28Now... This is going to need a bit of work, but...
0:03:30 > 0:03:33You've got to love that! Right, OK.
0:03:33 > 0:03:34That's an old doorway.
0:03:35 > 0:03:38Clearly either block it up properly,
0:03:38 > 0:03:41or maybe reconfigure this to have that as the entrance,
0:03:41 > 0:03:43I don't know how that would work.
0:03:43 > 0:03:45You would need to sit down with a pencil and paper and work that one out.
0:03:45 > 0:03:48But at least there is a doorway there, gives you a few options.
0:03:48 > 0:03:51And then the size of the kitchen itself, not too bad.
0:03:51 > 0:03:54Clearly you're going to make a big difference with what you do in here.
0:04:01 > 0:04:03Doors, doors, and more doors.
0:04:03 > 0:04:06Sliding doors, glass doors, doors boarded up,
0:04:06 > 0:04:08and then there's the kitchen.
0:04:08 > 0:04:12Those units, and the doors need to go, but so far,
0:04:12 > 0:04:14this is not too bad at all.
0:04:14 > 0:04:15Time to go out...
0:04:15 > 0:04:16doors.
0:04:17 > 0:04:20Well, at the back of the property, not exactly a huge garden,
0:04:20 > 0:04:22but at least it is some outdoor space,
0:04:22 > 0:04:26and you have got this all-important door leading onto an alleyway out the back,
0:04:26 > 0:04:28which is another access to the property, which is quite good.
0:04:28 > 0:04:30Looking down the row of properties,
0:04:30 > 0:04:32a few people have actually done extensions,
0:04:32 > 0:04:35and that is something you might consider - maybe a single-storey extension.
0:04:35 > 0:04:39But otherwise, just some nice planting in here,
0:04:39 > 0:04:41and it could be a really pleasant little space.
0:04:41 > 0:04:45A small extension under permitted development might be enough to make
0:04:45 > 0:04:47that kitchen a bit more family-friendly.
0:04:47 > 0:04:50After all, this is a three-bed house.
0:04:53 > 0:04:54So, upstairs,
0:04:54 > 0:04:58and I've just got to show you this amazing bit of decorating.
0:04:58 > 0:05:01Now, this is a decorating technique I have not seen in the 14 years of
0:05:01 > 0:05:03doing Homes Under The Hammer before.
0:05:03 > 0:05:07It's... Well, basically, nice embossed wallpaper,
0:05:07 > 0:05:10but then, at the joints, instead of matching the joints up,
0:05:10 > 0:05:15what you do is you stick a bit of polystyrene ceiling tile on there.
0:05:16 > 0:05:19That's a new one on me. Absolutely love it.
0:05:19 > 0:05:22But anyway, obviously that's all going to be stripped back, but it's
0:05:22 > 0:05:25just really interesting the ideas people come up with, isn't it?
0:05:25 > 0:05:28So into the first floor, of course.
0:05:28 > 0:05:30Bathroom, you know, funnily enough,
0:05:30 > 0:05:33these tiles are very much back in fashion.
0:05:33 > 0:05:36I don't know if you'd be able to re-do the bathroom and keep those tiles.
0:05:36 > 0:05:37Probably not.
0:05:37 > 0:05:40New suite in there and all that kind of stuff.
0:05:40 > 0:05:42Some reasonable sized rooms.
0:05:43 > 0:05:47Rear bedroom there, a really nice size, you've got these floorboards,
0:05:47 > 0:05:49which look, again, in pretty good condition.
0:05:49 > 0:05:54Bit more of a box room at the front on that side, but I've seen smaller.
0:05:54 > 0:05:56And then into what is, I suppose, the master bedroom.
0:05:56 > 0:06:01It mirrors that great bay window which you've got downstairs.
0:06:01 > 0:06:05And the windows themselves, double glazed, fairly new,
0:06:05 > 0:06:09so that is a big expense that has been saved.
0:06:09 > 0:06:11Doesn't smell of damp, doesn't look like it's had any leaks.
0:06:11 > 0:06:13What is wrong with this house?!
0:06:15 > 0:06:16Nothing.
0:06:18 > 0:06:20It's a good one.
0:06:28 > 0:06:31But did a local estate agent agree?
0:06:31 > 0:06:34What did he make of what I think is a rather fine house,
0:06:34 > 0:06:36guided at £40,000?
0:06:38 > 0:06:42My first impressions of the property is it is definitely a project
0:06:42 > 0:06:44property, for someone who wants to get stuck in.
0:06:44 > 0:06:49It is going to need everything doing - kitchen, bathroom, rewire,
0:06:49 > 0:06:53replaster, plumbing, so it is quite a lengthy process on this one.
0:06:53 > 0:06:55So it is not for the faint-hearted.
0:06:56 > 0:06:58For the more bold amongst us,
0:06:58 > 0:07:01what could the options be for this house once refurbished?
0:07:02 > 0:07:05Most people tend to buy to rent these out,
0:07:05 > 0:07:09because it is very much an investors' hub at the moment,
0:07:09 > 0:07:12there's quite a lot of activity with buy-to-let investors.
0:07:12 > 0:07:15So that suggests there might be good yields here at present.
0:07:17 > 0:07:19So, what could this house achieve?
0:07:19 > 0:07:22On completion of the work, with a full refurbishment,
0:07:22 > 0:07:25I'd expect this property to rent for
0:07:25 > 0:07:29between £500 and £550 per calendar month.
0:07:29 > 0:07:31And what about sales?
0:07:31 > 0:07:32On completion of all the work,
0:07:32 > 0:07:37I would anticipate this property to sell in the region of £85,000.
0:07:37 > 0:07:41Well, that initial guide price of £40,000 might have had you thinking
0:07:41 > 0:07:43this place is going to be an absolute disaster,
0:07:43 > 0:07:46but you know what? It's not. It's a good solid house.
0:07:46 > 0:07:49Yes, it needs a bit of tidying up, but that's about it.
0:07:49 > 0:07:50Can't go wrong, really.
0:07:50 > 0:07:53Let's see who bought it when it went under the hammer.
0:07:53 > 0:07:55Three-bedroom terraced house, 40,000 is our guide.
0:07:55 > 0:07:58That seems like the right place to start for all of us, I think.
0:07:58 > 0:08:00Can I see 40 anywhere? Thank you, sir.
0:08:00 > 0:08:02The bid is 40. Can I see 42?
0:08:02 > 0:08:0644. 46. 48. 50.
0:08:06 > 0:08:1352? 4? 53 is a fair bid. 54?
0:08:13 > 0:08:1554, Cathy. 55, sir.
0:08:15 > 0:08:18With telephone bidders competing against people in the room,
0:08:18 > 0:08:22the 40 grand guide price was quickly left behind.
0:08:22 > 0:08:24We rejoin the bidders in the room at 59,500.
0:08:24 > 0:08:2659 and a half.
0:08:26 > 0:08:2860. 60.
0:08:28 > 0:08:30And a half? 61?
0:08:31 > 0:08:33No, you sure?
0:08:33 > 0:08:35Here we go, then, at 60,500.
0:08:35 > 0:08:38Gentleman right in front of me for the first time. Second time at 60 and a half.
0:08:38 > 0:08:41Back to you if you want to come in, you've got about three seconds.
0:08:41 > 0:08:45Third and final time at £60,500, with you, sir, are we all done?
0:08:45 > 0:08:46We are.
0:08:46 > 0:08:48Sold, well done.
0:08:48 > 0:08:52Not present at the auction, but having his dad make
0:08:52 > 0:08:56the successful bid of £60,500, was Harry.
0:08:56 > 0:08:59He's a sales executive for a door company,
0:08:59 > 0:09:02and I met up with him for a chat about his new acquisition.
0:09:06 > 0:09:07Harry, good to meet you.
0:09:07 > 0:09:09- Congratulations.- Thank you.
0:09:09 > 0:09:11Tell me why you wanted to buy this house.
0:09:11 > 0:09:13I've just been looking in the area,
0:09:13 > 0:09:15I fancied a bit of an experiment over in Liverpool,
0:09:15 > 0:09:18because I've got other houses in Warrington and in the north-west,
0:09:18 > 0:09:21and looking at what you can get rental markets,
0:09:21 > 0:09:22what you've got to buy the house for,
0:09:22 > 0:09:24that was my main interest for coming over here.
0:09:24 > 0:09:27Right, so do you know the area particularly?
0:09:28 > 0:09:32Not really. I used to work in Aintree, which isn't too far away,
0:09:32 > 0:09:33so I kind of know it a little bit,
0:09:33 > 0:09:35and obviously near the football ground,
0:09:35 > 0:09:37but I don't have a great knowledge of the area.
0:09:37 > 0:09:40But I did enough research to give me a good feeling on it.
0:09:40 > 0:09:43So, talk through your research process and what you found out,
0:09:43 > 0:09:45and give me some actual numbers.
0:09:45 > 0:09:48Yeah, just looking on different websites in terms of rentals
0:09:48 > 0:09:50and speaking to estate agents.
0:09:50 > 0:09:54It's got a good rental income between 500 and 550,
0:09:54 > 0:09:56so I knew I could base my figures on that.
0:09:56 > 0:10:00Right, OK. And that's based on it being, obviously, done up.
0:10:00 > 0:10:02How much do you reckon it is going to cost you to get to that point?
0:10:02 > 0:10:04I shouldn't spend any more than 8,000 on this.
0:10:04 > 0:10:07- Eight?- Yeah, without a shadow of a doubt.
0:10:07 > 0:10:09- Right.- So I'll be disappointed if I go over eight
0:10:09 > 0:10:11because a lot of the work I'll do for myself.
0:10:11 > 0:10:14Obviously everyone in my family is in the trade as well.
0:10:14 > 0:10:16- Oh, are they?- So I get a mates rate on, er...
0:10:16 > 0:10:19but I know it looks bad, but if you know what you're doing,
0:10:19 > 0:10:21this doesn't need as much spending on it as what someone
0:10:21 > 0:10:23would look at it and think.
0:10:23 > 0:10:25It's a surprisingly modest budget,
0:10:25 > 0:10:28but Harry has a few cards up his sleeve,
0:10:28 > 0:10:30as he works in the building industry,
0:10:30 > 0:10:35so he'll be getting mates-rates on trade and building materials.
0:10:35 > 0:10:38And, rather handily, he's done an apprenticeship in joinery.
0:10:39 > 0:10:42So tell me what you're going to do to sort it out.
0:10:42 > 0:10:44Everything! Everything.
0:10:44 > 0:10:47So, I mean, tomorrow, I've got electricians,
0:10:47 > 0:10:49got the plumbers in tomorrow.
0:10:49 > 0:10:54So it's that first fix, that will be done come Monday, so within the first week,
0:10:54 > 0:10:56I can get it skimmed.
0:10:56 > 0:10:58I'm not going to the extent of doing it back to brick,
0:10:58 > 0:11:01but everything needs to be done.
0:11:01 > 0:11:03Right. And you can do what?
0:11:03 > 0:11:06You can't do the electrics or the gas, obviously, but apart from that,
0:11:06 > 0:11:08can you fit kitchens and bathrooms?
0:11:08 > 0:11:11Yeah, so obviously anything which needs a certificate, I can't do,
0:11:11 > 0:11:13like you said, the electrics and what have you.
0:11:13 > 0:11:17But as soon as it's skimmed, every bit of joinery work I will be doing,
0:11:17 > 0:11:20the kitchen, can do the tiling in the bathroom, any flooring.
0:11:20 > 0:11:22So that is where I come in to it,
0:11:22 > 0:11:24and obviously all the painting, stripping
0:11:24 > 0:11:27and general labouring work, I can take that into account.
0:11:27 > 0:11:31And I'm hoping that doors are on his to-do list,
0:11:31 > 0:11:34but as he does doors for a living, I'm sure they are!
0:11:34 > 0:11:37But he'll be doing this as well as his day job,
0:11:37 > 0:11:40so he has a timescale of seven to nine weeks.
0:11:42 > 0:11:44What do you do when you're not doing up houses?
0:11:44 > 0:11:46Chilling, recharging the batteries.
0:11:46 > 0:11:50I'm mad on football, and to be honest with you, it's kind of got to a point now,
0:11:50 > 0:11:53it got to the end of the season, within a week,
0:11:53 > 0:11:55I was looking online for a house.
0:11:55 > 0:11:57And now I've bought one, so it's like, I need to get this done,
0:11:57 > 0:12:02eight weeks, season starts, and then, yeah, I can kick back and relax, then.
0:12:02 > 0:12:04You're a massive fan. Who do you support?
0:12:04 > 0:12:07I'm a Villa fan, so it is people like me who keep football going,
0:12:07 > 0:12:10isn't it? Because I've got Liverpool and Everton right on the doorstep,
0:12:10 > 0:12:14so I don't want to be seeing them going to the games when I'm working on that.
0:12:14 > 0:12:16So that's where I'm going to be with that.
0:12:16 > 0:12:18Oh, fantastic, and who is helping you?
0:12:18 > 0:12:20My dad's recently retired,
0:12:20 > 0:12:23and he's been touching his fingers for a part-time job,
0:12:23 > 0:12:27so we finished one up in September, and I got him working on that,
0:12:27 > 0:12:30so I have employed my dad now, you know, he's kind of carried me,
0:12:30 > 0:12:33and I give him a bit of money back by giving him a part-time job.
0:12:33 > 0:12:34- Oh, great.- And he's handy, he's handy,
0:12:34 > 0:12:37so a lot of stuff like the painting and what have you,
0:12:37 > 0:12:40and the general stuff, giving me a lift, he can definitely help me out with that.
0:12:40 > 0:12:43Great, and probably quite nice that you can work together as well.
0:12:43 > 0:12:45Yeah, I spend a lot of time with him.
0:12:45 > 0:12:48They are big Villa fans as well, so we go to the games together,
0:12:48 > 0:12:49so we are very family-orientated.
0:12:49 > 0:12:52- Brilliant.- So, yeah, it's good. It's a bit lonely, as well,
0:12:52 > 0:12:54if you're grafting on a house on your own,
0:12:54 > 0:12:56so it is good to have someone here with you.
0:12:56 > 0:12:58Good, well, great. Congratulations.
0:12:58 > 0:13:01- Good luck with it.- Thank you very much.- Looking forward to seeing how you get on.
0:13:02 > 0:13:05Well, Harry certainly seems to know his stuff,
0:13:05 > 0:13:08and he's done that all-important thing, which is his research.
0:13:08 > 0:13:12He knows that buy-to-let in this area definitely works out well
0:13:12 > 0:13:15from the numbers point of view. How will he get on sorting it out?
0:13:15 > 0:13:17He seems to have the skills as well.
0:13:17 > 0:13:20You can find out how it all turns out later in the show.
0:13:24 > 0:13:27Off to Derby now, and the town of Alfreton,
0:13:27 > 0:13:31which is said to have been founded by King Alfred the Great.
0:13:31 > 0:13:34So, will today's property be great, or not?
0:13:39 > 0:13:41The property I'm here to see, well, this is it.
0:13:41 > 0:13:46It's an end of terrace three-bedroom house with a guide price of £72,000 plus.
0:13:46 > 0:13:48Let's see what you get for your money.
0:13:56 > 0:13:58OK, what have we got?
0:13:59 > 0:14:02Pretty green wallpaper, which reminds me of my gran.
0:14:02 > 0:14:06In fact, I think my gran might have that exact same wallpaper.
0:14:06 > 0:14:07You have a wee cupboard here.
0:14:07 > 0:14:11Somebody has used it for their coats to hang up, and your fuse box.
0:14:11 > 0:14:13And then... Hmm... This is interesting.
0:14:13 > 0:14:16It's a shower room, it's only got a shower in it.
0:14:16 > 0:14:18So if you have somebody round for tea,
0:14:18 > 0:14:21there is nowhere to wash their hands or go to the toilet,
0:14:21 > 0:14:23but they can have a shower.
0:14:23 > 0:14:25Back through to our hall,
0:14:25 > 0:14:28and you have some wasted space under the stairs.
0:14:28 > 0:14:31If you want to keep the stairs as is,
0:14:31 > 0:14:33and it is always a bit of a job to reconfigure them,
0:14:33 > 0:14:38you could shut that off, somewhere to put a pram or a bike.
0:14:38 > 0:14:40And then you have two doorways.
0:14:40 > 0:14:44Let's go through this one first, into your reception room.
0:14:44 > 0:14:46Now, I can tell this has been knocked through.
0:14:46 > 0:14:48It was two smaller rooms.
0:14:48 > 0:14:50The wall was here, there's a beam across the roof,
0:14:50 > 0:14:53and also you can see the remnants of that wall,
0:14:53 > 0:14:55where it was on the ground.
0:14:55 > 0:14:59Central heating, lots of ticks so far,
0:14:59 > 0:15:04and then through this way brings us to our kitchen, and this kitchen...
0:15:04 > 0:15:09It is dated, it could do with being taken out, a new one,
0:15:09 > 0:15:13but if you just put in new appliances, it's perfectly serviceable.
0:15:13 > 0:15:15And there's an awful lot about this house
0:15:15 > 0:15:17that just needs a lick of paint.
0:15:18 > 0:15:22You certainly have a blank canvas to work with here,
0:15:22 > 0:15:27and I'd like to paint you a picture of this shower room with a toilet and wash basin.
0:15:27 > 0:15:31I reckon if you knocked into the cupboard next door,
0:15:31 > 0:15:35you'd have space. You might even be able to install a window.
0:15:52 > 0:15:55Time for me to paint a picture of what's on offer
0:15:55 > 0:15:57in the rest of the house.
0:15:57 > 0:16:01If green is your colour, you might go crazy when it comes to bidding.
0:16:01 > 0:16:02Green is everywhere!
0:16:02 > 0:16:06I kind of like it. You have a good-sized bedroom upstairs,
0:16:06 > 0:16:10and you also have built-in wardrobes and another good-sized bedroom.
0:16:10 > 0:16:15Now, your third bedroom is narrow, definitely more of a single.
0:16:16 > 0:16:19OK, you've got a toilet, little room for a toilet,
0:16:19 > 0:16:21and then another room with your bath.
0:16:21 > 0:16:24You definitely want to look into whether you can take down
0:16:24 > 0:16:26this wall and just open things up.
0:16:26 > 0:16:28Why not make it one spacious bathroom?
0:16:41 > 0:16:45Outside, you have a good-sized garden, pretty overgrown,
0:16:45 > 0:16:47needs some love and attention.
0:16:47 > 0:16:52But actually, it's not the weeds that are catching my attention.
0:16:52 > 0:16:54Up there on the roof are solar panels.
0:16:55 > 0:16:58A good thing for the planet, but you need to do your research.
0:16:58 > 0:17:02Do they comply with the microgeneration certification scheme,
0:17:02 > 0:17:04and have building regs?
0:17:04 > 0:17:07If the panels are leased and not purchased,
0:17:07 > 0:17:09the lender should always be asked for permission,
0:17:09 > 0:17:12because it's creating a long-term lease
0:17:12 > 0:17:14against the roof and the roof space.
0:17:14 > 0:17:17In the past, it has put mortgage lenders off,
0:17:17 > 0:17:20so make sure your solicitor checks the finer details,
0:17:20 > 0:17:25that all the guidelines comply with the Council of Mortgage Lenders.
0:17:25 > 0:17:29An estimated 1.5 million homes in the UK have solar panels,
0:17:29 > 0:17:32so it's certainly becoming ever popular,
0:17:32 > 0:17:35which should also make any lenders less worried.
0:17:35 > 0:17:36Although, on a day like today,
0:17:36 > 0:17:39they won't be generating that much energy!
0:17:39 > 0:17:43MUSIC: Sunshine On A Rainy Day by Zoe
0:17:50 > 0:17:52But they will be getting a good clean.
0:17:52 > 0:17:56We wanted some advice to see if this house has a bright future,
0:17:56 > 0:17:59and asked along an agent from the auction house
0:17:59 > 0:18:00who sold it for his opinion.
0:18:00 > 0:18:03Demand for this type of property is always very good.
0:18:03 > 0:18:05It is quite basic at the moment.
0:18:05 > 0:18:10Kitchen's OK, bathroom ready to be replaced, general decor inside,
0:18:10 > 0:18:12new flooring, and outside garden tidied up, really.
0:18:12 > 0:18:18So, with a strong demand and with a 72 grand-plus guide price,
0:18:18 > 0:18:21could this be an ideal quick-flip project?
0:18:21 > 0:18:25In my opinion, the resale on the open market is likely to be
0:18:25 > 0:18:27in the region of £120,000.
0:18:31 > 0:18:35This is a solid house that wouldn't take much to really make it sing.
0:18:35 > 0:18:37The layout could be improved,
0:18:37 > 0:18:39and you would have to look into those solar panels.
0:18:39 > 0:18:42Let's find out who saw the potential when it went to auction.
0:18:46 > 0:18:49Well maintained, double-fronted three-bedroom end town house,
0:18:49 > 0:18:51guide of £72,000.
0:18:51 > 0:18:53Where do you want to be with this?
0:18:53 > 0:18:55Bid me at £70,000. 68.
0:18:55 > 0:18:59£68,000. 68 here, thank you, sir.
0:18:59 > 0:19:01£68,000 is bid.
0:19:01 > 0:19:0269 now.
0:19:02 > 0:19:0570,000. 71, if you like.
0:19:05 > 0:19:0671 is bid.
0:19:06 > 0:19:11A couple of interested bidders took the bidding to £90,000.
0:19:11 > 0:19:1490,000. 91. 92.
0:19:14 > 0:19:18No? Thank you, sir. At the back of the room, £91,000 is bid.
0:19:18 > 0:19:2092 in a new place.
0:19:20 > 0:19:2293, sir. 94 now.
0:19:24 > 0:19:2594. 95. 96?
0:19:27 > 0:19:30No. At £95,000, I'm with you, sir.
0:19:30 > 0:19:32For the first time... For the second time...
0:19:32 > 0:19:36For the third and final time,
0:19:36 > 0:19:40to paddle number 918, £95,000, it goes,
0:19:40 > 0:19:43it's gone. It's yours. Well bought, sir.
0:19:43 > 0:19:45The successful 95-grand bid was made by Steve,
0:19:45 > 0:19:48who was bidding on behalf of his daughter, Lottie.
0:19:50 > 0:19:51She's just 18 years old,
0:19:51 > 0:19:55and came along with her 16-year-old brother, Luke.
0:19:55 > 0:19:57They are amongst the youngest property developers
0:19:57 > 0:19:58we've had on the show,
0:19:58 > 0:20:01so I was keen to find out what they had in store.
0:20:04 > 0:20:07Pleased to meet you. You're far too young and good-looking, surely,
0:20:07 > 0:20:09to be owning a property.
0:20:09 > 0:20:11Tell me the story here.
0:20:11 > 0:20:15Well, we're both starting higher education in September.
0:20:15 > 0:20:18I'm going off to uni, Luke's going to college, and we wanted something,
0:20:18 > 0:20:22just a little project, to keep us occupied until we start.
0:20:22 > 0:20:24So how have you got into it?
0:20:24 > 0:20:27Is this something that your folks do?
0:20:28 > 0:20:31My mum and dad have two apartments already, in Chesterfield,
0:20:31 > 0:20:34and one abroad, which we didn't really renovate,
0:20:34 > 0:20:36but my dad rents them out, and he's a landlord for those.
0:20:36 > 0:20:39So it's sort of something we have a little bit of an idea of,
0:20:39 > 0:20:42but it's a learning one to start off with.
0:20:42 > 0:20:45Well, if you've been growing up with that from a young age,
0:20:45 > 0:20:47you kind of soak it up, don't you?
0:20:47 > 0:20:50Yeah, there's a lot of little things that we looked for when we actually
0:20:50 > 0:20:51came to view the property,
0:20:51 > 0:20:54which my dad had sort of told us about
0:20:54 > 0:20:56before we initially chose this one.
0:20:56 > 0:20:59And what was it about this property in particular that attracted you?
0:20:59 > 0:21:02Well, my dad actually used to work in Alfreton.
0:21:02 > 0:21:06He's a full-time firefighter, so he knows the area,
0:21:06 > 0:21:11it is close to the A38, the M1, so we came with Dad.
0:21:11 > 0:21:14Dad's sort of overseeing it with my mum, but you know,
0:21:14 > 0:21:16we are taking the reins,
0:21:16 > 0:21:19- as you would.- Taking the reins, OK.
0:21:19 > 0:21:22Now, Luke, how did you get involved?
0:21:22 > 0:21:25Did Lottie say, "We got it, I need your help?"
0:21:25 > 0:21:29Sort of, yeah. She was just like, me and Dad have bought it,
0:21:29 > 0:21:32and roped me into doing it, you know, and here I am.
0:21:32 > 0:21:37What would you have been doing in your holidays to make a bit of cash
0:21:37 > 0:21:39if it wasn't this?
0:21:39 > 0:21:43I clean part-time, so I'm a cleaner, just odd jobs,
0:21:43 > 0:21:46so it would have just been that, really.
0:21:46 > 0:21:48- Yeah.- I don't do a great deal, to be honest.
0:21:48 > 0:21:50I would sort of just be wandering around aimlessly,
0:21:50 > 0:21:53- so just something to do. - I love the honesty.
0:21:53 > 0:21:56I clean, I work hard... I wander around aimlessly.
0:21:56 > 0:21:57I don't believe that's all you do.
0:21:57 > 0:21:59What are your hobbies, Luke?
0:21:59 > 0:22:01I do play in a couple of bands, and I enjoy it,
0:22:01 > 0:22:03so I do that from time to time.
0:22:03 > 0:22:07I sometimes make money off it, but I mostly do it for fun, really.
0:22:07 > 0:22:09What do you do in the band?
0:22:09 > 0:22:10I play guitar and I sing.
0:22:10 > 0:22:12What kind of music do you play, Luke?
0:22:12 > 0:22:15Well, we play a lot of ska music, so like Madness and The Specials,
0:22:15 > 0:22:17and stuff like that. It obviously gets people dancing,
0:22:17 > 0:22:19- and it's fun to play.- Is he good?
0:22:19 > 0:22:21Very good. He's very modest.
0:22:21 > 0:22:24All the band are very modest, but they are very good.
0:22:24 > 0:22:28MUSIC: Our House by Madness
0:22:32 > 0:22:36Yeah, it would have been "Madness" not to play that tune there.
0:22:36 > 0:22:40Apparently mum Jane is the one they get their love of music from,
0:22:40 > 0:22:44and Luke's going to study music performance in Nottingham,
0:22:44 > 0:22:47whilst big sister Lottie is going to be studying nursing.
0:22:47 > 0:22:49But before they start the new term,
0:22:49 > 0:22:51they have got this house to think about first.
0:22:53 > 0:22:54So what are your plans here?
0:22:55 > 0:22:57Just cosmetic work, really.
0:22:57 > 0:23:00Stripping the walls, repainting, new carpets.
0:23:00 > 0:23:04Possibly a new kitchen, depending on, sort of, finances.
0:23:04 > 0:23:07- Bathrooms. - Yeah, the bathroom upstairs.
0:23:07 > 0:23:10There is a wall partitioning the toilet and the rest of the bathroom,
0:23:10 > 0:23:14so we are either looking at taking that wall down
0:23:14 > 0:23:18or putting a small sink into the bathroom already.
0:23:18 > 0:23:22- And then possibly taking the shower downstairs and putting a bathroom in there.- OK.
0:23:22 > 0:23:25Will your dad oversee a bit, because he's got experience?
0:23:25 > 0:23:29Yeah, my mum and dad are overseeing quite a lot of the work that is going to be done,
0:23:29 > 0:23:32but we will be definitely getting stuck in and helping out
0:23:32 > 0:23:35- as much as we can. - OK. And your budget?
0:23:35 > 0:23:3910,000, including all the fees and costs.
0:23:39 > 0:23:42OK. And your timescale to turn this around?
0:23:42 > 0:23:43Two to three months.
0:23:43 > 0:23:45Two to three months, OK.
0:23:45 > 0:23:48And what's your plan for this when it's done?
0:23:48 > 0:23:51We're looking to sell it on sort of straightaway,
0:23:51 > 0:23:52and look on to the next project.
0:23:52 > 0:23:54This is a great house.
0:23:54 > 0:23:56I don't foresee too many problems.
0:23:56 > 0:23:59- No, hopefully not!- Hopefully it's your first of many.
0:23:59 > 0:24:02- Yeah.- Best of luck.
0:24:02 > 0:24:04- Thanks, Lottie. Thanks, Luke. - Cheers.
0:24:06 > 0:24:11So, this is a first project for young siblings Luke and Lottie.
0:24:11 > 0:24:14With their lack of experience, it could be worrying,
0:24:14 > 0:24:17but then they seem really driven and mature.
0:24:17 > 0:24:20And with a helping hand from Mum and Dad, they should have no problems.
0:24:20 > 0:24:23You can find out how they get on later in the show.
0:24:25 > 0:24:28Still to come, I'm weighing up the pros and cons
0:24:28 > 0:24:29in this former pub in Cumbria.
0:24:29 > 0:24:32At the moment, it is 2-0 to the pros.
0:24:32 > 0:24:34I do like a pub, and I do like a pint.
0:24:37 > 0:24:42And we will find out if there were any positives to working with family in Derbyshire.
0:24:42 > 0:24:45Family bickering, family project, a lot of bickering.
0:24:48 > 0:24:51Earlier in the show, I took a look around this three-bedroom terrace
0:24:51 > 0:24:53with lots of original features,
0:24:53 > 0:24:57but I wasn't keen on the non-safety glass doors, and where was I?
0:24:57 > 0:25:03# There's things I'd like to say to you when you're back in Liverpool. #
0:25:03 > 0:25:07Yeah, it is a good-sized front living room, and then through to the rear one.
0:25:07 > 0:25:12Again, the parquet floor continuing through, so I really want to see that cleaned up,
0:25:12 > 0:25:15it will be spectacular. And then through into the kitchen.
0:25:15 > 0:25:17Right, OK. That's an old doorway.
0:25:19 > 0:25:23Either block it up properly or maybe reconfigure this.
0:25:23 > 0:25:27And who better to solve these glass door and blocked doorway problems
0:25:27 > 0:25:31than Warrington-based sales executive to door manufacturer, Harry?
0:25:31 > 0:25:36Who bought the house for £60,500 to add to his rental portfolio.
0:25:37 > 0:25:40How much do you reckon it is going to cost you to get to that point?
0:25:40 > 0:25:42I shouldn't spend any more than 8,000 on this.
0:25:42 > 0:25:44- Eight?- Yeah, without any shadow of a doubt.
0:25:44 > 0:25:47- Right.- So I'll be disappointed if I go over eight.
0:25:47 > 0:25:49I know it looks bad, but if you know what you're doing,
0:25:49 > 0:25:52this doesn't need as much spending on it as what someone would look at it and think.
0:25:52 > 0:25:55Every bit of joinery work, I'll be doing, so the kitchen,
0:25:55 > 0:25:57I can do the tiling in the bathroom, any flooring,
0:25:57 > 0:25:58so that's where I come into it.
0:25:58 > 0:26:00And obviously, all the painting,
0:26:00 > 0:26:03- stripping and just the general labouring work, you know... - Oh, great.
0:26:03 > 0:26:05I can take that into account.
0:26:05 > 0:26:07As an Aston Villa fan,
0:26:07 > 0:26:11Harry wanted to complete the refurbishment in under eight weeks,
0:26:11 > 0:26:13ready for the new football season.
0:26:13 > 0:26:15Bet you wish you'd done this one, Dion,
0:26:15 > 0:26:17to meet one of your former club's fans.
0:26:17 > 0:26:21So let's see what Harry and his family did when we went back
0:26:21 > 0:26:2314 weeks and one day later.
0:26:27 > 0:26:32Well, I think Harry's done an amazing job refurbishing the parquet floor.
0:26:32 > 0:26:33Parquet in French means,
0:26:33 > 0:26:36"a small compartment," and this herringbone pattern
0:26:36 > 0:26:38was most popular in the 1890s.
0:26:42 > 0:26:44Harry did all the joinery in the house,
0:26:44 > 0:26:46including the replacement of the glass doors.
0:26:51 > 0:26:56Unbelievably, the kitchen cost just £350, and it's much brighter,
0:26:56 > 0:26:59and the old doorway has been partition-walled properly.
0:27:00 > 0:27:05I'm glad to see the back of the old polystyrene/wallpaper combo,
0:27:05 > 0:27:09and the staircase has been painted and come up a real treat.
0:27:11 > 0:27:15In the bathroom, old meets new, with a modern-designed suite,
0:27:15 > 0:27:18and tiles sympathetic to the old style.
0:27:22 > 0:27:25There's good news for original-feature fans,
0:27:25 > 0:27:29because Harry's retained the upstairs doors, and they look great.
0:27:31 > 0:27:34Harry calls himself a part-time property developer,
0:27:34 > 0:27:37and he has the help of his retired dad.
0:27:39 > 0:27:43He did have specialist trades in for the new heating, electricity,
0:27:43 > 0:27:44and plastering.
0:27:45 > 0:27:48But don't just take my word for it - let's hear Harry's highlights.
0:27:51 > 0:27:54OK, so the general plan with the kitchen was to just try and open
0:27:54 > 0:27:57everything up and make it nice and bright.
0:27:57 > 0:28:00First thing that we did was we opened the doorway here,
0:28:00 > 0:28:03and it had a false wall, so we reconfigured that round.
0:28:03 > 0:28:06Then we get the light from the living room and the lounge
0:28:06 > 0:28:07which is all coming together,
0:28:07 > 0:28:10and it also means we can have the appliances in the corner,
0:28:10 > 0:28:13so we can have the fridge over there, washing machine underneath,
0:28:13 > 0:28:15rather than being in the outhouse outside,
0:28:15 > 0:28:17so that's obviously a massive plus to have.
0:28:17 > 0:28:20I'm so glad the parquet floor was restored,
0:28:20 > 0:28:23but it's not necessarily a job I'd tackle on my own.
0:28:23 > 0:28:26In the past, I think people had put dark layers upon layers,
0:28:26 > 0:28:28and I definitely felt that in my shoulders
0:28:28 > 0:28:30a couple of days after sanding it all down.
0:28:30 > 0:28:33But, you know, we got it back to its original state,
0:28:33 > 0:28:36and it's come up really nice.
0:28:36 > 0:28:40In the end, Harry had to go back to the brick because of the damp issues.
0:28:40 > 0:28:43They ended up having to do a full damp course,
0:28:43 > 0:28:46which meant he had to delay other work until it was sorted.
0:28:46 > 0:28:48Obviously, I had people booked in,
0:28:48 > 0:28:49tried to be really organised with it,
0:28:49 > 0:28:53but obviously putting them back two weeks, then they had work booked in,
0:28:53 > 0:28:55there was a bit of toing and froing between tradespeople.
0:28:55 > 0:28:57But it has been all right going over,
0:28:57 > 0:28:59it's just a couple more weekends I've not been able to have a lie-in,
0:28:59 > 0:29:01- but that is about it.- In fact,
0:29:01 > 0:29:05Harry reckons he has had just one full weekend off in the last three months.
0:29:05 > 0:29:08He renewed the guttering and painted the exterior,
0:29:08 > 0:29:12but were there any issues working with mum Kerry, dad Paul,
0:29:12 > 0:29:13and girlfriend Katie?
0:29:13 > 0:29:16The help that they've given me throughout it, you know,
0:29:16 > 0:29:18was second to none, but this isn't the first,
0:29:18 > 0:29:19it probably isn't going to be the last,
0:29:19 > 0:29:22which they probably won't want to hear.
0:29:22 > 0:29:25But they're well vetted in what they've done, and they've done a good job.
0:29:25 > 0:29:27They're always learning as well, making mistakes,
0:29:27 > 0:29:29but I'll sweep up after them, it's fine.
0:29:29 > 0:29:31Harry said he'd be disappointed if
0:29:31 > 0:29:34we went over his forecasted £8,000 budget, so did he?
0:29:34 > 0:29:36I was able to penny-pinch a couple of times.
0:29:36 > 0:29:39Obviously, the damp course set me over, so at the end of it,
0:29:39 > 0:29:41I did it for 8,700.
0:29:42 > 0:29:45Let's find out what kind of rental deal two local estate agents would
0:29:45 > 0:29:49say would be appropriate for Harry's fifth rental house.
0:29:52 > 0:29:56Having been in the property before, it's a total transformation.
0:29:56 > 0:29:57It's nice and bright.
0:29:57 > 0:30:01Kept the original features of the property, I really like it.
0:30:01 > 0:30:03It's bright and it's light.
0:30:03 > 0:30:04Seems to be a lot of windows.
0:30:04 > 0:30:07I like the idea that the kitchen runs into the dining area,
0:30:07 > 0:30:09it's nice and open-plan.
0:30:09 > 0:30:11It makes for a nice lifestyle.
0:30:11 > 0:30:13It's very popular lately, that sort of layout.
0:30:13 > 0:30:17And I'm sure Harry could arrange to fit sliding safety glass doors in
0:30:17 > 0:30:20the lounge, if being able to separate the rooms
0:30:20 > 0:30:23would mean sealing a deal with a tenant.
0:30:23 > 0:30:25Harry purchased the property for £60,500,
0:30:25 > 0:30:30and spent £8,700 refurbishing it, so onto the figures.
0:30:30 > 0:30:35It would be an easy let, between £500 and £560 per calendar month.
0:30:35 > 0:30:37For the rental market,
0:30:37 > 0:30:41I would put a valuation of somewhere in the region of £550 per
0:30:41 > 0:30:42calendar month.
0:30:42 > 0:30:48Harry's total spend, excluding taxes and expenses, is £69,200.
0:30:48 > 0:30:50Taking the top rental figure,
0:30:50 > 0:30:53that would equate to a yield of nearly 10%.
0:30:53 > 0:30:56- How does that sound?- Yeah, that's exactly what I budgeted for,
0:30:56 > 0:30:59and that's what I'll be striving to get.
0:30:59 > 0:31:02Now, why am I not surprised that Harry's not surprised?
0:31:02 > 0:31:04That's because he did his homework thoroughly,
0:31:04 > 0:31:08so will he be opening new doors in the near future?
0:31:09 > 0:31:13I think there is just a certain element that is how far can I go?
0:31:13 > 0:31:16How many can I build to a portfolio?
0:31:16 > 0:31:18And I just love seeing the finished article,
0:31:18 > 0:31:22taking the worst house in the street and then making it the best.
0:31:22 > 0:31:23I do get a kick out of that.
0:31:23 > 0:31:27And I'm assured by Dion that all the Aston Villa fans will get a kick out
0:31:27 > 0:31:31of this piece of music, especially Harry and most of his family.
0:31:31 > 0:31:33MUSIC: Ghost Riders In The Sky by Johnny Cash
0:31:33 > 0:31:36We have one brother who's a West Brom fan,
0:31:36 > 0:31:38but he gets neglected from the games,
0:31:38 > 0:31:41but even he says he's going to come to a Villa home game with us,
0:31:41 > 0:31:44so we are definitely going as a family to the next game.
0:31:44 > 0:31:46Here's to part-time property developing.
0:31:46 > 0:31:50MUSIC: Ghost Riders In The Sky by Johnny Cash
0:32:00 > 0:32:04I'm in Cumbria, 15 miles north of the city of Carlisle,
0:32:04 > 0:32:08in an area known as Debatable Lands.
0:32:08 > 0:32:12Once a dangerous frontier where powerful warring families rustled
0:32:12 > 0:32:15livestock and generally created mayhem.
0:32:15 > 0:32:19Thankfully, the days of border reivers are well past,
0:32:19 > 0:32:20and it's nice and quiet.
0:32:22 > 0:32:24This is real countryside.
0:32:24 > 0:32:28All you can hear are the birds, and the views are amazing.
0:32:28 > 0:32:32This is proper ramblers' and dog-walking territory.
0:32:32 > 0:32:35The property I'm here to see is a former pub,
0:32:35 > 0:32:37with live-in accommodation.
0:32:37 > 0:32:40It went to auction for £65,000 plus.
0:32:42 > 0:32:44Wonder what time last orders were?
0:32:44 > 0:32:48Sadly, time was called on this place two years ago,
0:32:48 > 0:32:52and with an average of 27 pubs a week closing in the UK,
0:32:52 > 0:32:55it's not uncommon to see them at the auction.
0:32:55 > 0:32:59This one is starting to look a bit worse for wear on the outside.
0:32:59 > 0:33:01OK, into the pub.
0:33:01 > 0:33:05Could you restore this place and make it into a pub again?
0:33:05 > 0:33:07You possibly could.
0:33:07 > 0:33:09But it hasn't worked before, will it work again?
0:33:09 > 0:33:12It's possibly going to be a bit of a gamble.
0:33:12 > 0:33:15As there is a pub only two miles down the road,
0:33:15 > 0:33:18which tells me two pubs in a small area, just isn't working.
0:33:19 > 0:33:24But it is sad, isn't it? Sad to see another pub close.
0:33:24 > 0:33:26I do like a pub and I do like a pint.
0:33:34 > 0:33:38Well, there's no beer here and given the decline in this sort of business,
0:33:38 > 0:33:42I reckon the sound of pork scratchings being crunched
0:33:42 > 0:33:44will never be heard again.
0:33:44 > 0:33:49What there is, is a very tired and dark space, and I do mean space.
0:33:49 > 0:33:52Lots of it. This lot doesn't just come with a bar,
0:33:52 > 0:33:56there's residential space as well, a lounge, kitchen,
0:33:56 > 0:33:59bathroom downstairs and three bedrooms upstairs.
0:34:02 > 0:34:05And if that wasn't enough, at the other end of the building,
0:34:05 > 0:34:07there's yet more room.
0:34:09 > 0:34:12OK, downstairs, as you come in the door,
0:34:12 > 0:34:14you've got a bedroom and bathroom.
0:34:14 > 0:34:18Down the corridor there, I can see three further rooms,
0:34:18 > 0:34:20and in there we have another bedroom.
0:34:21 > 0:34:26Into what looks to me like a dining sort of lounge area,
0:34:26 > 0:34:28with kitchen over here.
0:34:28 > 0:34:31Now, from what I've seen, there's a lot of space here
0:34:31 > 0:34:34and don't forget, this is separate from the pub
0:34:34 > 0:34:37and the accommodation over there.
0:34:37 > 0:34:40The guide price is £65,000 plus. Bonkers.
0:34:40 > 0:34:43MUSIC: Bonkers by Dizzee Rascal
0:34:43 > 0:34:46It's certainly a gigantic bit of property for the guide price.
0:34:46 > 0:34:50There's also a fairly big garden with some lovely views.
0:34:50 > 0:34:53But there's a reason for that guide price.
0:34:53 > 0:34:54This place is pretty remote,
0:34:54 > 0:34:57so anyone looking for a business premises
0:34:57 > 0:35:00couldn't rely on passing trade.
0:35:00 > 0:35:02Potential buyers could be limited.
0:35:02 > 0:35:06Perhaps a business that could utilise the land could work.
0:35:06 > 0:35:09A small transport business or a market garden might work.
0:35:09 > 0:35:12But what could a property developer do with it?
0:35:12 > 0:35:14I think it's too big to be one dwelling.
0:35:14 > 0:35:18You could break it up into two but I still think it's too big for that.
0:35:18 > 0:35:20Three maybe, you might get away with it.
0:35:20 > 0:35:24Not for me, I would completely total the building
0:35:24 > 0:35:27and I would build three separate houses.
0:35:27 > 0:35:29Two/three bedrooms,
0:35:29 > 0:35:32a bit of parking at the side of the property
0:35:32 > 0:35:34and back here you'd have yourself
0:35:34 > 0:35:38a beautiful back garden overlooking scenery like that.
0:35:38 > 0:35:40Which isn't bad at all.
0:35:40 > 0:35:43Obviously, it would all be down to planning permission,
0:35:43 > 0:35:46but that would be my choice.
0:35:46 > 0:35:49With the ever-increasing demand on housing,
0:35:49 > 0:35:51I think a nice two to three house development
0:35:51 > 0:35:53would be right on the money.
0:35:59 > 0:36:01But does a local estate agent agree?
0:36:03 > 0:36:05If I was going to develop it, I would look at three units.
0:36:05 > 0:36:07I wouldn't try and make one big house
0:36:07 > 0:36:09or even two reasonably-sized houses,
0:36:09 > 0:36:12I would go for three more modest dwellings,
0:36:12 > 0:36:14appealing to local buyers.
0:36:14 > 0:36:16This area tends to be expensive,
0:36:16 > 0:36:18because the majority of properties are larger homes,
0:36:18 > 0:36:21so younger people who want to stay in the area have very little choice,
0:36:21 > 0:36:23so this would be an ideal spot,
0:36:23 > 0:36:25because there are views
0:36:25 > 0:36:28and reasonable sized gardens to go with each property.
0:36:28 > 0:36:31This lot was guided at 65 grand plus,
0:36:31 > 0:36:35so taking into account site clearance and building costs,
0:36:35 > 0:36:38which could amount to around 300 grand,
0:36:38 > 0:36:40could this approach work financially?
0:36:41 > 0:36:45Prices in this area for two to three bedroom properties would be
0:36:45 > 0:36:47in the range of £125-150,000.
0:36:47 > 0:36:51So that does indicate there could be some profit to be made here?
0:36:51 > 0:36:53What about the rental potential?
0:36:53 > 0:36:57Three-bedroomed properties in this area would let for
0:36:57 > 0:36:59between £500-550 per calendar month.
0:37:03 > 0:37:04Right, where do you start?
0:37:04 > 0:37:07This is a massive challenge and quite daunting.
0:37:07 > 0:37:11You've got the pub, you've got the living accommodation
0:37:11 > 0:37:13and you've got all this out here as well.
0:37:13 > 0:37:17I can't wait to find out who was brave enough to take it on.
0:37:17 > 0:37:18Let's go to the auction house and find out.
0:37:22 > 0:37:24Nice one this. A lot of property for your money this.
0:37:24 > 0:37:27£65,000 a guide, former public house,
0:37:27 > 0:37:29occupying a pleasant rural site.
0:37:29 > 0:37:32Let's not mess about, 55?
0:37:32 > 0:37:3455 here, right, 55 I'm bid.
0:37:34 > 0:37:3956, 57, 58, 59, 60, one...
0:37:39 > 0:37:42So there was a real battle taking place for this pub.
0:37:42 > 0:37:43We rejoin the bidding at £80,000.
0:37:43 > 0:37:4680, 80 I'm bid.
0:37:46 > 0:37:48One, two, three...
0:37:48 > 0:37:5183 bid, 84, 85, 85 bid.
0:37:51 > 0:37:5486, 87.
0:37:54 > 0:37:55Here at 86.
0:37:55 > 0:37:58At £86,000, on my left then, first time.
0:37:59 > 0:38:01Second time, are we done?
0:38:01 > 0:38:04At £86,000, all done, all out.
0:38:05 > 0:38:07Cheers, madam, congratulations.
0:38:08 > 0:38:11So the hammer fell at £86,000,
0:38:11 > 0:38:14and the job lot of pub, house and land
0:38:14 > 0:38:17were bought by local resident, Anthea.
0:38:18 > 0:38:21So is it time for a celebratory drink?
0:38:21 > 0:38:24Or has she got the bulldozers revving up as we speak?
0:38:25 > 0:38:27I caught up with her to find out.
0:38:27 > 0:38:30- Anthea, nice to meet you. - Pleased to meet you.
0:38:30 > 0:38:33- Congratulations.- Thank you very much.- Happy?- Very happy.
0:38:33 > 0:38:35This is an unusual building.
0:38:35 > 0:38:37What attracted you to it?
0:38:37 > 0:38:41Ah, well, this is only about 2.5 miles away from the family farm, so,
0:38:41 > 0:38:43and... I used to drink here.
0:38:43 > 0:38:46- Oh, did you really?- And it was a fantastic place!
0:38:46 > 0:38:49- Really, you used to drink in this pub?- Yes.- What was it like?
0:38:49 > 0:38:52Oh, it was great. The steaks in this place that Kenny used to cook were
0:38:52 > 0:38:54phenomenal, absolutely phenomenal.
0:38:54 > 0:38:56People would come from miles around to come and do it.
0:38:56 > 0:38:59So have you had your eyes on it for sometime?
0:38:59 > 0:39:02Yeah, yeah, we've been looking to buy a property in this area
0:39:02 > 0:39:04because it's quite close to the family business, so,
0:39:04 > 0:39:06it's nice for us all to be together.
0:39:06 > 0:39:08And this whole place has been a success
0:39:08 > 0:39:11due to my mother-in-law who has been fantastic.
0:39:11 > 0:39:13How come, tell us more about your mother-in-law?
0:39:13 > 0:39:15She is a very generous lady.
0:39:15 > 0:39:18She has actually fronted up this money for us.
0:39:18 > 0:39:19Will she get involved as well?
0:39:19 > 0:39:22Um, no, I don't think she will because she's far too busy enjoying
0:39:22 > 0:39:23her retirement, and enjoying herself.
0:39:23 > 0:39:26- Oh, good on her.- She's jetsetting around everywhere.
0:39:26 > 0:39:30- So what are your plans then?- Well, hopefully, if the planners allow us,
0:39:30 > 0:39:32we'd quite like to de-license it and turn it into
0:39:32 > 0:39:34a bed and breakfast.
0:39:34 > 0:39:37For walking holidays, dog walking, bring your own horse along,
0:39:37 > 0:39:39go riding through the Kielder Forest.
0:39:39 > 0:39:41That's cool, that's a very cool idea.
0:39:41 > 0:39:42Would you run this place yourself
0:39:42 > 0:39:45- or would you get someone to manage it for you?- We'll run it ourselves.
0:39:45 > 0:39:49My husband is in the army and also, obviously, works on the farm,
0:39:49 > 0:39:53so I'd probably run this myself, but it would be ours.
0:39:53 > 0:39:57Well, I think there's plenty of room to turn this place into many things,
0:39:57 > 0:39:59and if you fancy running a B&B,
0:39:59 > 0:40:03you might be surprised to know you need planning permission.
0:40:03 > 0:40:06The planners will take into account the impact it might have on the
0:40:06 > 0:40:08neighbours, and if you're in a tourist spot,
0:40:08 > 0:40:12the amount of accommodation nearby might mean you get refused.
0:40:12 > 0:40:15You'd also have to apply for change of use.
0:40:15 > 0:40:18Drinking establishments are classed A4,
0:40:18 > 0:40:23so if you wanted to turn it into a restaurant, you'd need a class A3.
0:40:23 > 0:40:28Before this property can be put to any use, it needs a lot of TLC.
0:40:28 > 0:40:30Tell me how you're going to reconfigure,
0:40:30 > 0:40:32are you reconfiguring it?
0:40:32 > 0:40:35- Are you changing the layout? - Yes, I think some rooms,
0:40:35 > 0:40:38like the one we're standing in is possibly going to be made into a
0:40:38 > 0:40:40bedroom with an en-suite.
0:40:40 > 0:40:43Knock a few walls through, maybe do a few en-suite bedrooms.
0:40:43 > 0:40:45And how many bedrooms do you want to find?
0:40:45 > 0:40:48Hopefully four or five for the bed and breakfast side,
0:40:48 > 0:40:51and keep the pub area and bar area as a restaurant.
0:40:51 > 0:40:53It's going to brightened up, spruced up,
0:40:53 > 0:40:56it's going to have some lighting and a big sports screen put in.
0:40:56 > 0:40:59- Yes.- Obviously the end is going to be for our own living accommodation,
0:40:59 > 0:41:01because we'll need somewhere to live!
0:41:01 > 0:41:03Oh, so you'll be living on-site?
0:41:03 > 0:41:05We'll be living on site as well, yes.
0:41:05 > 0:41:07So what will your accommodation be like then?
0:41:07 > 0:41:11Well, we've got three bedrooms upstairs and a little kitchenette downstairs,
0:41:11 > 0:41:13and the sitting room, so,
0:41:13 > 0:41:15a little log burner in the very small sitting-room, wood.
0:41:15 > 0:41:17I can see a lot of country style coming in there.
0:41:17 > 0:41:19And you've got the outside space as well.
0:41:19 > 0:41:22You've got, you know, a car park on both sides, as well?
0:41:22 > 0:41:24We've got the car park on both sides, we've got,
0:41:24 > 0:41:26hopefully we're going to have some garden out the back,
0:41:26 > 0:41:29I've got stables out the back that need to be re-done.
0:41:29 > 0:41:30But, you know, the stables can wait.
0:41:30 > 0:41:33They can just wait until everything else is up and running.
0:41:33 > 0:41:35Tell me about the budget for this place.
0:41:35 > 0:41:37It's not a small property.
0:41:37 > 0:41:39There's a lot to do, there's a lot of planning permission
0:41:39 > 0:41:41that's got to go ahead.
0:41:41 > 0:41:45Um, we think that it's probably going to take 30,000
0:41:45 > 0:41:47- to get everything done.- OK.
0:41:47 > 0:41:49I know, I noticed you'd like that.
0:41:49 > 0:41:51Yes, yes.
0:41:51 > 0:41:53I'm thinking yes.
0:41:53 > 0:41:56I hope so for you. I hope so for you, I really do.
0:41:56 > 0:42:00Well, you know, we've got our own earth movers and things like that,
0:42:00 > 0:42:04being on the farm, we don't have to hire out for diggers and tractors.
0:42:04 > 0:42:06Ah, that's where you'll save your money, then.
0:42:06 > 0:42:08We'll save quite a bit of money using our own facilities.
0:42:08 > 0:42:11And the work itself, who's going to carry out all the work for you?
0:42:11 > 0:42:14Well, a lot of it's going to be done ourselves so...
0:42:14 > 0:42:17You know, if you put a bit of graft behind it.
0:42:17 > 0:42:20Yes, that's one of those things that doesn't seem to
0:42:20 > 0:42:22frighten you at all, I'm getting that graft.
0:42:22 > 0:42:24- Yeah. Farming does it to you. - You just get on with it.
0:42:24 > 0:42:26You just get on with it.
0:42:26 > 0:42:28With horses, you don't have money!
0:42:28 > 0:42:30That's very true! What about timescale?
0:42:30 > 0:42:3230 grand budget, what about your timescale?
0:42:32 > 0:42:34We're hoping to have everything done in three months.
0:42:34 > 0:42:39OK. When we come back in three months, what are we going to see?
0:42:39 > 0:42:44Well, I'm hoping that you'll just see a whole new bright and fresh,
0:42:44 > 0:42:46you know, loved, lived-in place,
0:42:46 > 0:42:48rather than this sad building that
0:42:48 > 0:42:51- has just been left for a couple of years.- Listen, good luck.
0:42:51 > 0:42:54- Thank you very much. - I've got confidence in you.
0:42:54 > 0:42:55- Thank you.- Take care.
0:42:55 > 0:42:58All I can say is good luck, Anthea.
0:42:58 > 0:43:0530 grand and a three-month timescale to turn this into a working B&B?
0:43:05 > 0:43:06I'm not too sure myself.
0:43:06 > 0:43:09You can find out how she gets on later in the programme.
0:43:12 > 0:43:17Approaching a property renovation can sometimes be a bit daunting,
0:43:17 > 0:43:19depending on where your property journey is taking you.
0:43:19 > 0:43:22Yes, but those decisions can be really exciting,
0:43:22 > 0:43:24like choosing between a high spec finish
0:43:24 > 0:43:26or no frills to maximise that return.
0:43:26 > 0:43:28Yeah, we've seen how one property got on,
0:43:28 > 0:43:31but what decisions will have to be made on the other two.
0:43:31 > 0:43:32Let's find out.
0:43:35 > 0:43:38We're taking a trip back to Alfreton in Derbyshire,
0:43:38 > 0:43:41where I saw a three-bed house that despite being tired,
0:43:41 > 0:43:42was in generally OK condition.
0:43:45 > 0:43:48There was a downstairs shower room which was a bit unusual,
0:43:48 > 0:43:51and I also found a few issues with the layout upstairs.
0:43:54 > 0:43:56OK, you've got a toilet,
0:43:56 > 0:43:59a little room for a toilet, and then another room with your bath.
0:43:59 > 0:44:02You definitely want to look into whether you can take down this wall
0:44:02 > 0:44:03and just open things up.
0:44:03 > 0:44:06Why not make it one spacious bathroom?
0:44:08 > 0:44:10That aside, there wasn't too much to do here,
0:44:10 > 0:44:13which was one of the reasons 18-year-old Lottie
0:44:13 > 0:44:15paid 95 grand for this property.
0:44:15 > 0:44:18She and 16-year-old brother Luke
0:44:18 > 0:44:20were taking on a first project together.
0:44:20 > 0:44:23You're far too young and good-looking, surely,
0:44:23 > 0:44:25to be owning a property.
0:44:25 > 0:44:27Tell me the story here.
0:44:27 > 0:44:31Well, we're both starting higher education in September.
0:44:31 > 0:44:35I'm going off to uni, Luke's going to college, and we wanted something,
0:44:35 > 0:44:39just a little project to keep us occupied until we start.
0:44:40 > 0:44:42It's certainly a different summer job,
0:44:42 > 0:44:45and with the help of their dad Steve and mum Jane,
0:44:45 > 0:44:48they hope to get the work done in three months' time
0:44:48 > 0:44:49and for ten grand.
0:44:49 > 0:44:53So it's time to check in four months later and see if this young brother
0:44:53 > 0:44:57and sister team's first project has gone to plan.
0:44:57 > 0:45:03# Like you imagine when you were young
0:45:06 > 0:45:10# Can we climb this mountain I don't know
0:45:10 > 0:45:14# Higher now than ever before I
0:45:14 > 0:45:17# Know we can make it if we take it slow
0:45:17 > 0:45:21# Let's take it easy Easy now, watch it go... #
0:45:21 > 0:45:24There is still work to be done here,
0:45:24 > 0:45:25but the finishing touches,
0:45:25 > 0:45:28like the floors, are being picked by the new owners.
0:45:28 > 0:45:30Yes, incredibly,
0:45:30 > 0:45:34they sold the house just four weeks after purchasing it at auction.
0:45:34 > 0:45:38This has meant the new owner has been able to have a big input into the renovation works.
0:45:38 > 0:45:42So, we spoke to the buyers regarding downstairs, and they decided that
0:45:42 > 0:45:46instead of having the new shower and toilet facilities,
0:45:46 > 0:45:48they'd rather have it as a utility room,
0:45:48 > 0:45:52so we're leaving that and just going to put sockets in for that.
0:45:52 > 0:45:55And then the upstairs, the buyers said they'd rather have
0:45:55 > 0:45:59the separation wall between the toilet and bathroom,
0:45:59 > 0:46:01so we're leaving that as it is,
0:46:01 > 0:46:03and it's turned out it's a lot less work
0:46:03 > 0:46:05and a lot less money for us to spend.
0:46:05 > 0:46:08Their initial budget for the work was ten grand,
0:46:08 > 0:46:13and they've managed to come in just under that at £9,500 total spend.
0:46:13 > 0:46:18The whole family has chipped in to keep the costs down.
0:46:18 > 0:46:19I've done sort of mainly the
0:46:19 > 0:46:22stripping and taking everything off.
0:46:22 > 0:46:26Me and my little brother, Will, painted the fences at the front.
0:46:27 > 0:46:31My dad cut the hedge, reseeded, cut the rose bushes back.
0:46:31 > 0:46:34My mum's done all the gloss. Me and my dad have done all the painting.
0:46:34 > 0:46:37- Luke's done...- A lot. - A lot of the garden work!
0:46:38 > 0:46:41But as, sort of, time progressed, he had music commitments,
0:46:41 > 0:46:44so he's not done as much in the house as he could have done,
0:46:44 > 0:46:50but he did quite a lot of the more difficult and labour-intensive work outside.
0:46:50 > 0:46:52As well as the fact I can't paint at all, so...
0:46:52 > 0:46:54Yeah, Luke is not allowed
0:46:54 > 0:46:57within two metres of a paintbrush when Mum's here.
0:46:57 > 0:47:00Luke might have been banned from the paintbrush but he did a lot
0:47:00 > 0:47:04of good work in the garden, which is looking much improved.
0:47:04 > 0:47:07And although things have taken a little longer than the initial
0:47:07 > 0:47:09three-month timescale,
0:47:09 > 0:47:10firefighter dad, Steve,
0:47:10 > 0:47:14had good reason for not being able to crack on with
0:47:14 > 0:47:16the work straightaway.
0:47:16 > 0:47:18Well, when we first started the project, my dad had
0:47:18 > 0:47:21just had an operation on his back to have some of his discs removed,
0:47:21 > 0:47:25so he wasn't sort of able to do some of the heavy lifting stuff that me
0:47:25 > 0:47:29and my mum had to do sort of do together, but,
0:47:29 > 0:47:34he's been a real help getting some of the more intricate jobs finished.
0:47:34 > 0:47:36He's pretty much recovered now,
0:47:36 > 0:47:39so, he's been doing loads of tiling upstairs.
0:47:39 > 0:47:42It's nice to hear the whole family have been getting in on the act,
0:47:42 > 0:47:45but there's one thing that's certainly not been fun for the whole
0:47:45 > 0:47:47family - stripping back wallpaper!
0:47:47 > 0:47:49I think the first initial big challenge
0:47:49 > 0:47:51was getting the wallpaper off.
0:47:51 > 0:47:55There were four or five layers of wallpaper, which when you steamed
0:47:55 > 0:47:58half came off, and then the other half had to come after that,
0:47:58 > 0:48:00so that was very time-consuming.
0:48:00 > 0:48:04If any of us were doing things lower down,
0:48:04 > 0:48:07Luke would be doing the higher-up steaming
0:48:07 > 0:48:09and he would drip the hot water on my back!
0:48:09 > 0:48:11Yeah, a lot of bickering, as well.
0:48:11 > 0:48:15Yes, family bickering, family projects, a lot of bickering, but,
0:48:15 > 0:48:16- we've had a nice time.- Yeah.
0:48:16 > 0:48:19I think the finished project looks really good.
0:48:19 > 0:48:21It's everything we sort of hoped it would look like
0:48:21 > 0:48:25and we're really, really pleased with it.
0:48:25 > 0:48:28I think they've got every right to be pleased with their first project,
0:48:28 > 0:48:32and for coming in under budget, and for selling it, too.
0:48:32 > 0:48:35So what do two estate agents think of their handiwork?
0:48:36 > 0:48:39The changes on this property are looking pretty good.
0:48:39 > 0:48:45It's nice and fresh, nice and light, easy just to move straight on in.
0:48:45 > 0:48:49The selling points of this property are, it's on a quiet street,
0:48:49 > 0:48:52it's got a lovely front and rear garden,
0:48:52 > 0:48:55and it's very sort of spacious throughout.
0:48:55 > 0:48:57The standard of the finish is fine for this kind of project.
0:48:57 > 0:48:59It's clean, it's tidy.
0:48:59 > 0:49:01The layout is a classic layout of this style of house.
0:49:01 > 0:49:03There's no reason to change it,
0:49:03 > 0:49:06it works fine and it would cost a lot of money to change it
0:49:06 > 0:49:08and I don't see it making much benefit.
0:49:09 > 0:49:12Sounds like keeping that bathroom set-up the same
0:49:12 > 0:49:13is a good move after all.
0:49:13 > 0:49:17But have these first-time developers made good financial decisions
0:49:17 > 0:49:21with their £104,500 investment?
0:49:24 > 0:49:30On the open market, I would expect this property to sell somewhere between £115-120,000.
0:49:30 > 0:49:36I envisage this property would sell between £115-125,000.
0:49:36 > 0:49:38I think that's a pretty good sort of estimate,
0:49:38 > 0:49:40for what the house is worth.
0:49:40 > 0:49:43We're right in the middle of the valuation
0:49:43 > 0:49:45which I think is really nice.
0:49:45 > 0:49:49It's been a really nice family project that we've all had a lot of fun doing,
0:49:49 > 0:49:52and it's definitely encouraged us to look for other projects.
0:49:52 > 0:49:55Yeah, we all really enjoyed it, I think.
0:49:55 > 0:49:58They sold the house for £120,000,
0:49:58 > 0:50:04which means they made a profit of £15,500, minus taxes and fees.
0:50:05 > 0:50:07Not bad for a first project.
0:50:08 > 0:50:11So, what's next for this brother and sister team?
0:50:15 > 0:50:17Well, next for me, I guess,
0:50:17 > 0:50:20I'm just going to do as well as I can on my course, see where it takes me.
0:50:20 > 0:50:24And I'm hoping to be a qualified nurse in three years' time,
0:50:24 > 0:50:27and maybe move over to Australia once I've completed my degree.
0:50:33 > 0:50:36Earlier in the show, I was 50 miles north of Carlisle,
0:50:36 > 0:50:41looking around a former pub, with attached living accommodation
0:50:41 > 0:50:44that had a guide price of £65,000 plus.
0:50:44 > 0:50:48Unfortunately, I'd missed closing time by two years.
0:50:48 > 0:50:52This watering hole had been empty all that time.
0:50:52 > 0:50:55So I had my reservations about it working as a future boozer.
0:50:57 > 0:51:01Could you restore this place and make it into a pub again?
0:51:01 > 0:51:06You possibly could, but it hasn't worked before, will it work again?
0:51:06 > 0:51:08It's possibly going to be a bit of a gamble.
0:51:08 > 0:51:12MUSIC: Closing Time by Semisonic
0:51:18 > 0:51:21What also wasn't working was the dingy living accommodation
0:51:21 > 0:51:23attached to the pub.
0:51:23 > 0:51:26But it wasn't exactly pint sized as it had three good-sized bedrooms.
0:51:26 > 0:51:30Further to that, was a separate flat at the other end
0:51:30 > 0:51:34the building containing another four bedrooms.
0:51:34 > 0:51:38But I thought I'd best call time on this unconventional building.
0:51:38 > 0:51:41I would completely total the building
0:51:41 > 0:51:44and I would build three separate houses.
0:51:44 > 0:51:47However, local horse-riding instructor Anthea,
0:51:47 > 0:51:51who bought this place for 86 grand at auction wasn't going to get her
0:51:51 > 0:51:55family's tractor and earth movers to flatten the pub.
0:51:55 > 0:51:59When it came to this place, she'd had a serious case of nostalgia.
0:51:59 > 0:52:03I used to drink here and it was a fantastic place!
0:52:03 > 0:52:05- What was like?- Oh, it was great.
0:52:05 > 0:52:08The steaks in this place that Kenny used to cook were just phenomenal.
0:52:08 > 0:52:13Anthea and her husband Richard now own a stake in this joint,
0:52:13 > 0:52:15and she had plans for it.
0:52:15 > 0:52:18We'd quite like to de-license it and turn it into a bed and breakfast,
0:52:18 > 0:52:21for walking holidays, dog walking, bring your own horse along,
0:52:21 > 0:52:23go riding through the Kielder Forest and...
0:52:23 > 0:52:25- That's cool. That's a very cool idea.- Yeah.
0:52:25 > 0:52:28Obviously, at the end, is going to be for our own living accommodation,
0:52:28 > 0:52:31- because we'll need somewhere to live!- So you'll be living on-site?
0:52:31 > 0:52:33We'll be living on site as well, yes.
0:52:35 > 0:52:38She hoped to do the work in three months and for 30 grand.
0:52:40 > 0:52:42A year and a half later, how's it gone?
0:52:47 > 0:52:50There's no sign of a B&B.
0:52:50 > 0:52:53But instead, the place is now one large house.
0:52:53 > 0:52:56Anthea has raised the bar in style.
0:52:58 > 0:53:00Transforming the accommodation from the dingy rooms
0:53:00 > 0:53:02that were here before,
0:53:02 > 0:53:05the living space has had a full damp-proof course,
0:53:05 > 0:53:08and a log burner stove is to be installed.
0:53:08 > 0:53:10It's going to be a cosy country retreat.
0:53:12 > 0:53:15The downstairs bathroom looks sharp
0:53:15 > 0:53:18with a new suite in contemporary colours.
0:53:19 > 0:53:23While the master bedroom upstairs channels peaceful country living.
0:53:27 > 0:53:31The rest of the upstairs is a work in progress.
0:53:31 > 0:53:34But the wall dividing the two properties has been removed.
0:53:34 > 0:53:40But did Anthea call time on the property's one defining feature?
0:53:45 > 0:53:49The pub is de-licensed, but it's been kept as an entertaining space,
0:53:49 > 0:53:51and I have to say I'm pretty jealous,
0:53:51 > 0:53:54even though the taps are no longer operational.
0:53:57 > 0:54:01So Anthea's rather unique country house is shaping up,
0:54:01 > 0:54:03but this happy hour home has taken
0:54:03 > 0:54:06far longer than the three months planned.
0:54:07 > 0:54:09We did have a little issue with planning,
0:54:09 > 0:54:13because we didn't actually start doing the building,
0:54:13 > 0:54:17because we realised if we did start and the planners wouldn't allow us
0:54:17 > 0:54:21to change the usage of it, then we would end up having to resell it,
0:54:21 > 0:54:23because we couldn't keep it as a business.
0:54:25 > 0:54:29Waiting for the change of use from commercial to residential delayed
0:54:29 > 0:54:31the renovation by eight months.
0:54:31 > 0:54:33Once they got the go-ahead,
0:54:33 > 0:54:35family friend and builder Harry came in
0:54:35 > 0:54:37and completed the works with his team.
0:54:37 > 0:54:40But that's not to say Anthea didn't lend a hand.
0:54:41 > 0:54:43Being as, you know, we are Cumbrian,
0:54:43 > 0:54:45we have to do everything nice and cheaply,
0:54:45 > 0:54:47so I did all the painting myself.
0:54:47 > 0:54:50And being in Army quarters for years and years and years,
0:54:50 > 0:54:53it's just magnolia, everything is magnolia,
0:54:53 > 0:54:57so I was let loose with a whole new colour palette and, um...
0:54:57 > 0:55:00I started off never painting anything in my life,
0:55:00 > 0:55:02and as I've gone through the whole place,
0:55:02 > 0:55:04I've actually got better and better and better.
0:55:04 > 0:55:07But I do have a new respect for painters and decorators!
0:55:09 > 0:55:12Despite Anthea's best efforts with a paintbrush,
0:55:12 > 0:55:15the budget grew from 30 to £45,000.
0:55:17 > 0:55:24We ended up going over because there was far more rewiring, and far more,
0:55:24 > 0:55:28um, knocking back of walls than we thought there was,
0:55:28 > 0:55:31and there was absolutely no point of, you know,
0:55:31 > 0:55:34painting it and doing it if there's damp coming through.
0:55:34 > 0:55:38So we just bit the bullet and said, right, knock them all back,
0:55:38 > 0:55:39get them all damp proofed,
0:55:39 > 0:55:42then we've got a building that's going to be, you know, warm.
0:55:44 > 0:55:48In that case, let's give a warm welcome to two local estate agents
0:55:48 > 0:55:49who we invited over for their
0:55:49 > 0:55:53thoughts and opinions on the seven-bed house
0:55:53 > 0:55:56which has cost £131,000 so far.
0:55:56 > 0:55:58First impressions of the property are really good.
0:55:58 > 0:56:00I do know the property, I haven't been in it before,
0:56:00 > 0:56:02but I do know the house itself.
0:56:02 > 0:56:05They've created really good residential space upstairs.
0:56:05 > 0:56:08They've got bathrooms and bedrooms and all this kind of thing.
0:56:08 > 0:56:10But I think what they've done with the bar as well,
0:56:10 > 0:56:13keeping the bar in situ and having a games room, things like that,
0:56:13 > 0:56:15- is a fantastic idea.- First impressions of the property,
0:56:15 > 0:56:17there's obviously an awful lot to take in,
0:56:17 > 0:56:21very impressed with some of the alterations that have been made,
0:56:21 > 0:56:23particularly the kitchen,
0:56:23 > 0:56:25but the real centrepiece for me is
0:56:25 > 0:56:28the fact that the bar area and pool table have been retained.
0:56:30 > 0:56:33The entertaining space has won the agents over.
0:56:33 > 0:56:35But the work upstairs is ongoing,
0:56:35 > 0:56:38so what could the house be worth once complete?
0:56:39 > 0:56:43When the property is completed, if it's carried on to the standard,
0:56:43 > 0:56:46that the likes of the kitchen, the lounges and that sort of stuff,
0:56:46 > 0:56:48if that carries on throughout the whole house,
0:56:48 > 0:56:50I see no reason why you couldn't
0:56:50 > 0:56:53market this property at probably £350,000,
0:56:53 > 0:56:54maybe a little bit more.
0:56:54 > 0:56:58If the property were finished to a high standard and specification,
0:56:58 > 0:57:02I think we'd be looking at a guide price between £350,000 and £400,000.
0:57:02 > 0:57:06I'm very happy with the valuation of 350 to 400.
0:57:06 > 0:57:08I think that's fair.
0:57:08 > 0:57:10Of course, Anthea's living in the house
0:57:10 > 0:57:13but the higher value of 400 grand
0:57:13 > 0:57:19could give her a potential profit of 269 grand, minus taxes and fees.
0:57:19 > 0:57:23That's a good incentive to get the finishing touches done and dusted.
0:57:23 > 0:57:27But in the meantime, Anthea, get the drinks in.
0:57:27 > 0:57:29I love the fact that this place has
0:57:29 > 0:57:31now got a new fresh breath of life in it,
0:57:31 > 0:57:34and we haven't really changed much about the bar.
0:57:34 > 0:57:36The bar is still exactly the same as it has been
0:57:36 > 0:57:38for years and years and years.
0:57:38 > 0:57:40And, of course, we've got a lot of friends round here,
0:57:40 > 0:57:43so they come in and join us for a few drinks on a Friday night,
0:57:43 > 0:57:45and it's just like old times.
0:57:47 > 0:57:51Have today's property stories filled you with inspiration to pop down to
0:57:51 > 0:57:53your auction room?
0:57:53 > 0:57:55Or perhaps you just like watching the buyers
0:57:55 > 0:57:57with a cup of tea in hand.
0:57:57 > 0:58:00Either way, we have plenty more renovation stories for you,
0:58:00 > 0:58:03so join us next time on Homes Under The Hammer.
0:58:03 > 0:58:04- Bye-bye.- Goodbye.- Bye-bye.