0:00:02 > 0:00:03Hello and welcome to the show.
0:00:03 > 0:00:06If you've ever been tempted to go to an auction, I think it's
0:00:06 > 0:00:10time you took the plunge because there's so much variety to be had.
0:00:10 > 0:00:13Yes, and there's lots and lots of auctions happening up and down
0:00:13 > 0:00:15the country throughout the year,
0:00:15 > 0:00:17so why not get in on the auction action,
0:00:17 > 0:00:19and find your Home Under The Hammer?
0:00:45 > 0:00:49Well, people are always asking for tips about behaving in the auction
0:00:49 > 0:00:50room, well, here are just a few.
0:00:50 > 0:00:55I mean, there are no hard and fast rules, but set yourself a budget,
0:00:55 > 0:00:57make sure you can be seen by the auctioneer,
0:00:57 > 0:01:00and, oh, back to that budget, stick to it!
0:01:00 > 0:01:01Yes, and if you do put a bid in,
0:01:01 > 0:01:03make sure you do it clearly and visibly, and don't go
0:01:03 > 0:01:06over your budget because it will cost you in the long run.
0:01:06 > 0:01:09Let's find out what today's buyers got up to.
0:01:10 > 0:01:15I'm in Leamington Spa at this 1930s semi that has a wee problem.
0:01:15 > 0:01:19It is sodden with, there is no other word for it, wee.
0:01:21 > 0:01:24I'm in Plumstead looking at this three-storey mid-terrace,
0:01:24 > 0:01:27that has a loo with a difference.
0:01:27 > 0:01:29It's got a window.
0:01:30 > 0:01:34And Lucy's making a splash at this plot in the Isle of Sheppey.
0:01:34 > 0:01:37Let's not forget a boat. This would be a great space to house a boat.
0:01:37 > 0:01:40You've got the harbour 100 yards away.
0:01:41 > 0:01:44All these properties have been sold at auction,
0:01:44 > 0:01:46and we'll find out who bought them
0:01:46 > 0:01:48and what they paid when they went under the hammer.
0:01:48 > 0:01:50Sold, 140.
0:01:53 > 0:01:55Royal Leamington Spa, to give it its full name,
0:01:55 > 0:01:59is a picturesque town in the heart of south Warwickshire.
0:01:59 > 0:02:03Formerly known as Leamington Priors,
0:02:03 > 0:02:05its name changed in 1838,
0:02:05 > 0:02:08following the discovery of alleged medicinal qualities of its spring
0:02:08 > 0:02:12water. Although people no longer flock here hoping to be healed,
0:02:12 > 0:02:15it's still a popular tourist spot and, looking around,
0:02:15 > 0:02:17well, you can see why.
0:02:17 > 0:02:21# I go to my happy place... #
0:02:23 > 0:02:27Well, just a mile from the centre of beautiful Leamington Spa,
0:02:27 > 0:02:29is the property I'm here to see.
0:02:29 > 0:02:34And it's on this street of 1930s semis, so you might be surprised,
0:02:34 > 0:02:38or probably not, to hear that it is in fact a 1930s semi.
0:02:38 > 0:02:43Guide price was in excess of £125,000. Sounds OK.
0:02:43 > 0:02:46One thing I do notice, though, unlike some of these other houses,
0:02:46 > 0:02:47it hasn't got off-street parking.
0:02:47 > 0:02:49So that's one way you could immediately add value.
0:02:49 > 0:02:51Anyway, let's have a look.
0:02:54 > 0:03:00So, very standard layout, these 1930s semi-detached houses have,
0:03:00 > 0:03:02which is good,
0:03:02 > 0:03:06because you could take inspiration from what other people have done to
0:03:06 > 0:03:09them. This looks to me like it's been fairly untouched so far.
0:03:09 > 0:03:12The stairs up to the bedroom, as I said, very standard layout.
0:03:12 > 0:03:16Here is your front living room and this is definitely one of those
0:03:16 > 0:03:20instances when you are definitely better off where you are,
0:03:20 > 0:03:22on the sofa with your feet up
0:03:22 > 0:03:24or in bed or with a chocolate biscuit and a cup of coffee,
0:03:24 > 0:03:26rather than being here,
0:03:26 > 0:03:28because, if you were here, you would be smelling...
0:03:28 > 0:03:31Bleurgh! ..what I am smelling.
0:03:31 > 0:03:34This room here, if you glance down at the floor, is sodden.
0:03:34 > 0:03:36And it is sodden with,
0:03:36 > 0:03:38there is no other word for it, wee.
0:03:38 > 0:03:43You might think a bit of bleach on this and you'd be able to sort it
0:03:43 > 0:03:45out and the smell would go.
0:03:45 > 0:03:49Unfortunately, urine has a way of getting into wood.
0:03:49 > 0:03:53It seeps into the timbers and often the timbers below.
0:03:53 > 0:03:56So there's no amount of scrubbing and polishing and sticking it full
0:03:56 > 0:03:59of disinfectant that is actually going to get rid of the smell.
0:03:59 > 0:04:03Often, the only way to get rid of it is actually to replace the
0:04:03 > 0:04:06floorboards and probably make that decision early on and save yourself
0:04:06 > 0:04:08the hassle. It's really horrible.
0:04:13 > 0:04:16# Ooh-wee! I've got you on my mind
0:04:16 > 0:04:20# I get a funny feeling every time... #
0:04:20 > 0:04:22To get rid of the doggy doings,
0:04:22 > 0:04:24there are some other options.
0:04:24 > 0:04:27Some people would recommend a biological washing powder,
0:04:27 > 0:04:29or bicarbonate of soda.
0:04:29 > 0:04:33But on a scale such as this, I think you'd be wasting your time.
0:04:33 > 0:04:37Beyond the pongy problem, though, there is a nice living room with
0:04:37 > 0:04:40the added bonus of double-glazed bay windows.
0:04:41 > 0:04:44Heading away from the source of the smell,
0:04:44 > 0:04:45the typical layout continues
0:04:45 > 0:04:48with a small kitchen and a rear reception room next door.
0:04:49 > 0:04:54There are no prizes for guessing what my next suggestion will be.
0:04:54 > 0:04:58The first thing I would be thinking about doing is taking out that wall,
0:04:58 > 0:05:01opening up the kitchen into a kitchen/living area here,
0:05:01 > 0:05:04and the second thing, opening up that into a big set of French doors
0:05:04 > 0:05:06opening out into the garden.
0:05:06 > 0:05:09You don't have to do much more downstairs
0:05:09 > 0:05:11to really transform this place.
0:05:11 > 0:05:15So, it is a blank canvas but it's like one of those paintings where
0:05:15 > 0:05:17there's, like, the little outline things
0:05:17 > 0:05:20with numbers on so you paint by numbers. That's what it feels like.
0:05:20 > 0:05:25You just have to paint the numbers, like similar properties elsewhere.
0:05:25 > 0:05:27# Painting by numbers... #
0:05:27 > 0:05:31There's a back garden which is a blank canvas too and there's plenty
0:05:31 > 0:05:35of room so no problems finding space if you want to expand.
0:05:35 > 0:05:41Back inside, upstairs is not in bad nick either.
0:05:41 > 0:05:43The layout, like downstairs,
0:05:43 > 0:05:45extremely classic for this kind of house.
0:05:45 > 0:05:49It's three bedrooms, and the bathroom is in the right place,
0:05:49 > 0:05:51it's upstairs at the top of the stairs there, which is good.
0:05:51 > 0:05:53Got a little boxroom there,
0:05:53 > 0:05:55a nice-sized double bedroom towards the front,
0:05:55 > 0:05:57and a nice-sized double bedroom towards the back.
0:05:57 > 0:06:00One thing that's a bit of a pleasant surprise,
0:06:00 > 0:06:02you've got new double glazing which is good.
0:06:02 > 0:06:05But it's really just a property that you're going to have to spend some
0:06:05 > 0:06:09time and effort totally renovating and modernising.
0:06:09 > 0:06:10It's not too big a job,
0:06:10 > 0:06:13though I smell trouble with those whiffy floorboards.
0:06:14 > 0:06:18But what does an agent from the auction house that sold the property
0:06:18 > 0:06:20think of it?
0:06:24 > 0:06:26Having looked around the property,
0:06:26 > 0:06:29the first thing that comes to light is the fact it absolutely stinks.
0:06:29 > 0:06:32The property needs mostly everything apart from the windows,
0:06:32 > 0:06:34the windows have been done.
0:06:34 > 0:06:37But the wiring will need checking, it will need a new bathroom,
0:06:37 > 0:06:41a new kitchen, redecoration throughout, new floor coverings,
0:06:41 > 0:06:43and that's about it, really.
0:06:44 > 0:06:47Yep, that's it. But the fabric of the house is sound.
0:06:47 > 0:06:50And three-bedroom properties are always popular.
0:06:50 > 0:06:56So what could this house - guided at in excess of £125,000 sell for?
0:06:59 > 0:07:04Resale value as a three-bedroom property, once renovated,
0:07:04 > 0:07:07I'd anticipate the property being worth somewhere in the region of
0:07:07 > 0:07:11£220,000 to £225,000.
0:07:12 > 0:07:15Well, apart from the wee,
0:07:15 > 0:07:18nothing particularly wrong with this property and I think,
0:07:18 > 0:07:21that would possibly have put a few people off.
0:07:21 > 0:07:23So, hopefully, it was a bit of a bargain
0:07:23 > 0:07:24when it went under the hammer.
0:07:26 > 0:07:28I start with Lot 87 which is, as you see,
0:07:28 > 0:07:31a vacant freehold semidetached property.
0:07:31 > 0:07:34Starting at 130 for Lot 87.
0:07:34 > 0:07:37£130,000. 120, then, 120.
0:07:37 > 0:07:39Thank you, sir.
0:07:39 > 0:07:41120 on my left. At £120,000...
0:07:41 > 0:07:44Unfortunately, our cameras didn't manage to catch the bidders
0:07:44 > 0:07:48for this auction lot, but the bidding soon gathered pace
0:07:48 > 0:07:50and we rejoined at £190,000.
0:07:50 > 0:07:53£190,000, the gentleman seated, are you coming back in, sir?
0:07:53 > 0:07:58At £190,000. It's being sold, make no mistake, at £190,000.
0:07:58 > 0:08:02One, two, three. It is yours, sir, 364, for 190.
0:08:02 > 0:08:06The successful bidder paying £65,000 over the guide price and
0:08:06 > 0:08:09getting the property for £190,000 was David.
0:08:09 > 0:08:14At the age of 23, this is his first auction purchase.
0:08:14 > 0:08:16And I wanted to find out more.
0:08:18 > 0:08:20David, great to meet you. Congratulations.
0:08:20 > 0:08:24- Thank you very much.- Tell me why you wanted to buy this place.
0:08:24 > 0:08:25It's in a very nice part of town,
0:08:25 > 0:08:27it's not the most expensive part of town,
0:08:27 > 0:08:30I think it's a good kind of trade-off
0:08:30 > 0:08:32for what you get for your money.
0:08:32 > 0:08:36It's got quite a lot of space to it, and nice garden,
0:08:36 > 0:08:38so it's really ideal.
0:08:38 > 0:08:39Now, is this something you've done before?
0:08:39 > 0:08:41No, no, I'm actually...
0:08:41 > 0:08:44I've just been working for about a year in a job,
0:08:44 > 0:08:47so it's the first property I've owned myself,
0:08:47 > 0:08:50I've been renting as a student up till 12 months ago.
0:08:50 > 0:08:52Great, what is your job?
0:08:52 > 0:08:53I'm a mechanical engineer.
0:08:53 > 0:08:56Oh, OK. So, is your mechanical engineering going to come in handy,
0:08:56 > 0:09:00- do you think?- I've got some ideas of the structure,
0:09:00 > 0:09:03- I can see some bits from lectures coming through...- Really?
0:09:03 > 0:09:05..but I'm probably a bit too theoretical.
0:09:05 > 0:09:07- Take a sledgehammer, what could go wrong?- Exactly.
0:09:07 > 0:09:11I don't know if you've noticed, I've got a slight yellow bit just there,
0:09:11 > 0:09:13- that happened from a hammer. - Oh, no.- Last weekend.
0:09:13 > 0:09:16- Why, what happened?- I had just knocked out an old shelf and...
0:09:16 > 0:09:21- It bounced back?- Yes.- What a nightmare. So, are you DIY friendly?
0:09:21 > 0:09:23Oh, yeah, to a certain extent, exactly.
0:09:23 > 0:09:26But not probably to the extent of plastering.
0:09:26 > 0:09:31I could do some tiling but, you know, within reason.
0:09:38 > 0:09:40David, at the age of 23,
0:09:40 > 0:09:44has managed to get to this stage by sacrificing a lot of time with sheer
0:09:44 > 0:09:49hard work and determination, helping run club nights and DJing,
0:09:49 > 0:09:51amongst other things.
0:09:52 > 0:09:56I've been working part-time for, I guess, coming up to six years now.
0:09:56 > 0:10:00I've even started a small business, alongside my job in the last year.
0:10:00 > 0:10:02My parents have redeveloped properties in the past.
0:10:02 > 0:10:06It was always my aim as soon as I became a professional to try as hard
0:10:06 > 0:10:08- as I could to see what I could put together.- Wow!
0:10:08 > 0:10:11So, you did it the old-fashioned way, which is just saving hard?
0:10:11 > 0:10:13Yeah.
0:10:13 > 0:10:16But this is the result of your labours, if you like.
0:10:16 > 0:10:17Yeah, I'm so happy to have it.
0:10:17 > 0:10:19It's, of course, you know...
0:10:19 > 0:10:23You can understand as you go through and you see the house more and more,
0:10:23 > 0:10:26you realise there's more and more bits you need to spend and more work
0:10:26 > 0:10:30to be done, but I still think when I first did the budget I added in some
0:10:30 > 0:10:35contingency, so I hopefully, touch wood, think I'll be within.
0:10:35 > 0:10:39And then what about the overpowering smell of wee?
0:10:39 > 0:10:41Yes!
0:10:42 > 0:10:45- It's just a thing we're going to have to sort out.- Could be a replace
0:10:45 > 0:10:47- the floorboards job?- Yeah. That's the thing I'm worried about.
0:10:47 > 0:10:50I was hoping that you could just take out the carpets,
0:10:50 > 0:10:52but it does look, if you look in one of the rooms,
0:10:52 > 0:10:54it does look like it's soaked in.
0:10:54 > 0:10:56I've spoken to people who've had exactly the same
0:10:56 > 0:10:58- and they had to replace the floor. - Hm!
0:10:58 > 0:11:00But, you know, take up the floorboards,
0:11:00 > 0:11:02stick a bit of hardboard down, you'll be fine.
0:11:02 > 0:11:04Exactly. It shouldn't take too long.
0:11:04 > 0:11:06I've got some very good builders, so touch wood.
0:11:06 > 0:11:09There's a lot of touching wood going on here. Have you noticed?
0:11:10 > 0:11:14Yes, but I trust the fact that my builders are pretty good and,
0:11:14 > 0:11:18hopefully, not too expensive from what they've spoken about so far.
0:11:18 > 0:11:19So, like you say,
0:11:19 > 0:11:21I've already started noticing every time I touch wood,
0:11:21 > 0:11:23I'm eating into that contingency.
0:11:25 > 0:11:27David has a healthy budget of £30,000,
0:11:27 > 0:11:30not including his contingency.
0:11:30 > 0:11:34He plans to create a kitchen/diner and build a small extension and he
0:11:34 > 0:11:38has plans for himself and girlfriend Fleur to move in.
0:11:40 > 0:11:42But I'd also like to rent out one room to one of our friends,
0:11:42 > 0:11:45because she's still got another year at university.
0:11:45 > 0:11:48So that way it helps us kind of pay back
0:11:48 > 0:11:51a little bit shorter timescale for the mortgage.
0:11:51 > 0:11:53And obviously for her,
0:11:53 > 0:11:56it also means we can give her a slightly nicer place than some other
0:11:56 > 0:11:58rental accommodation you can find.
0:11:58 > 0:12:00Great! What's the timescale for doing the work?
0:12:00 > 0:12:02Are you going to live in here while you're doing it?
0:12:02 > 0:12:06We won't be living in here because we've got a set contract of where
0:12:06 > 0:12:10we're renting at the moment. So that runs out in beginning of September.
0:12:10 > 0:12:12So that gives us about ten weeks.
0:12:12 > 0:12:15And then is this the start of a big property developing career,
0:12:15 > 0:12:17- do you think?- Well, we'll see.
0:12:17 > 0:12:20I guess it depends how well I can do it this time around.
0:12:20 > 0:12:23If I do it very well and make some money, then potentially.
0:12:23 > 0:12:26Good luck with it all. I look forward to seeing how you get on.
0:12:26 > 0:12:28Thank you very much.
0:12:28 > 0:12:32So, there you go. 23-year-old David getting into his first house,
0:12:32 > 0:12:35by doing it the old-fashioned way,
0:12:35 > 0:12:37working hard and saving hard.
0:12:37 > 0:12:40He's bought a good house. There's lots of work to do.
0:12:40 > 0:12:44How will he get on sorting out that and the dog smell out?
0:12:44 > 0:12:46You can find out later in the show.
0:12:50 > 0:12:52South-east London and Plumstead,
0:12:52 > 0:12:55and a property that is close to plenty of amenities.
0:12:55 > 0:12:59There are good shops and transport links, both by train and road.
0:12:59 > 0:13:02Things will get even better with Crossrail,
0:13:02 > 0:13:06which will begin at Abbey Wood and draw below the surface of Plumstead
0:13:06 > 0:13:10and Woolwich and will also take travellers into central London.
0:13:10 > 0:13:13That will definitely boost the area.
0:13:13 > 0:13:16Could Plumstead be a property plum ready for picking?
0:13:16 > 0:13:19Halfway up this road is the property I'm here to see.
0:13:19 > 0:13:23But if you carried on past the house I'm here to see, you would get to
0:13:23 > 0:13:24Plumstead Common.
0:13:24 > 0:13:27It's always, always good to have green space nearby.
0:13:29 > 0:13:32This is our property. It is a mid-terraced house
0:13:32 > 0:13:37over three levels and it has a guide price of £270,000, plus.
0:13:38 > 0:13:40Let's go and see what you get for your money.
0:13:40 > 0:13:45# You got one, going in
0:13:47 > 0:13:49# You got one, going... #
0:13:49 > 0:13:52OK.
0:13:52 > 0:13:56OK, a lot of mail underfoot here in this quite long hallway.
0:13:56 > 0:14:00I can see there's a lot of textured finish here on the walls.
0:14:00 > 0:14:02Not a massive fan of that.
0:14:02 > 0:14:06The first reception room is just here. It's a good size.
0:14:06 > 0:14:08Nice, high ceilings.
0:14:08 > 0:14:11The fireplace has been bricked up.
0:14:11 > 0:14:14Very old-fashioned, that. And you've got two big windows at the front.
0:14:14 > 0:14:17It's a decent-sized room, actually.
0:14:17 > 0:14:18As I come down the hallway,
0:14:18 > 0:14:22you've got the stairs right in front of me going up to the bedrooms and
0:14:22 > 0:14:25then we've got reception room number two.
0:14:25 > 0:14:28A little bit smaller than the first room.
0:14:29 > 0:14:31Not a lot of character in here at all.
0:14:31 > 0:14:34You have got central heating, which is always a bonus.
0:14:34 > 0:14:36The windows would need to be changed.
0:14:36 > 0:14:38They are very old-fashioned windows.
0:14:38 > 0:14:43But there's not a lot more to reveal.
0:14:43 > 0:14:47Two rooms on this floor. There's got to be more.
0:14:47 > 0:14:50# In the midnight hour, baby
0:14:50 > 0:14:52# More, more, more
0:14:52 > 0:14:55# With a rebel yell
0:14:55 > 0:14:57# More, more, more
0:14:57 > 0:14:59# More, more, more... #
0:14:59 > 0:15:00Of course there's more.
0:15:00 > 0:15:02It's a three-storey house.
0:15:02 > 0:15:07It looks like on this floor there was a bedroom and maybe a study.
0:15:07 > 0:15:10But no sign of a kitchen or bathroom or anything.
0:15:10 > 0:15:12The layout is intriguing,
0:15:12 > 0:15:15as you are about to see me down in the basement.
0:15:16 > 0:15:18What have we got down here?
0:15:18 > 0:15:21Straight into the kitchen.
0:15:21 > 0:15:24Nice spacious kitchen.
0:15:24 > 0:15:25It's all a little bit dated.
0:15:25 > 0:15:28The floor's dated. It's coming up. Not very pretty.
0:15:28 > 0:15:31These are '70s, '80s cupboards.
0:15:31 > 0:15:33If you were to take all this out,
0:15:33 > 0:15:35you'd get a really nice kitchen in here.
0:15:35 > 0:15:38These tiles are not very pretty either.
0:15:38 > 0:15:43And just in there, you've got a toilet/shower room there.
0:15:43 > 0:15:49Right directly opposite the stairs, we have got this spacious room.
0:15:49 > 0:15:54Now, right, off the kitchen, not sure, a lounge, maybe.
0:15:54 > 0:15:58But it looks like it may have been a bedroom.
0:15:58 > 0:16:00There's a bed over there and you've got a wardrobe here.
0:16:00 > 0:16:03Central heating down here as well.
0:16:03 > 0:16:05I'm taking a guess this is not original.
0:16:07 > 0:16:10I'm all for features, but maybe just not this one,
0:16:10 > 0:16:14as this room is off the kitchen, it seems to me, with a revamp,
0:16:14 > 0:16:17it could work as a good living/dining area,
0:16:17 > 0:16:20which would make sense for family living.
0:16:21 > 0:16:25Heading outside, the large garden is also very family-friendly.
0:16:27 > 0:16:29Back inside and another thought.
0:16:29 > 0:16:34There is a bathroom down here and that front room has its own access,
0:16:34 > 0:16:38which makes me think it could work as a bedroom in a HMO -
0:16:38 > 0:16:39a house of multiple occupancy.
0:16:41 > 0:16:44So, there's three bedrooms up here.
0:16:44 > 0:16:47But I'm pretty sure that bedroom through there
0:16:47 > 0:16:48used to be one bedroom.
0:16:48 > 0:16:52They've split it into two to make three. So the choice is yours.
0:16:52 > 0:16:54Three bedrooms or two up here.
0:16:54 > 0:16:57You've also got a toilet as well...
0:16:57 > 0:16:59with a bit of a difference...
0:17:03 > 0:17:05It's got a window.
0:17:05 > 0:17:08Now, I thought about this one,
0:17:08 > 0:17:10I knew I was missing something at home!
0:17:10 > 0:17:14A window off my toilet over the stairs.
0:17:15 > 0:17:18# I don't belong here... #
0:17:18 > 0:17:21I'd love to say that that's the weirdest thing I've seen on my time
0:17:21 > 0:17:24on Homes Under The hammer, but it's not even close.
0:17:24 > 0:17:26Internal bathroom window aside,
0:17:26 > 0:17:30what did a local estate agent think of the spacious property guided at
0:17:30 > 0:17:32£270,000-plus?
0:17:33 > 0:17:36I would say the property would need full refurbishment inside.
0:17:36 > 0:17:40It may need new electrics, new heating system,
0:17:40 > 0:17:41and new double glazing throughout.
0:17:41 > 0:17:44However, it does offer huge potential and lots of space.
0:17:46 > 0:17:49What kind of possibilities does this house have to offer?
0:17:49 > 0:17:52I see the property as a potential family home.
0:17:52 > 0:17:54However, there is demand in the area
0:17:54 > 0:17:57for HMOs and multiple occupancy rooms.
0:17:57 > 0:18:01What kind of money could the property, guided at £270,000-plus,
0:18:01 > 0:18:03be worth as a family home?
0:18:03 > 0:18:09Once renovated, I would suggest a value of £425,000 for the property
0:18:09 > 0:18:12and a rental of £1,500 per calendar month.
0:18:12 > 0:18:16And if you were to convert it into a five-bed HMO, with one public room,
0:18:16 > 0:18:18what it could achieve on the rental market?
0:18:19 > 0:18:23I would suggest that the property would rent for around £2,500 per
0:18:23 > 0:18:27calendar month. Approximately £500 per room.
0:18:30 > 0:18:32There is a lot of property in there.
0:18:32 > 0:18:35But there's also a lot of things that need to be done.
0:18:35 > 0:18:38The big question here for me is, what do you do with it?
0:18:38 > 0:18:39It's got so many options.
0:18:39 > 0:18:43Let's find out who had the answers when it went under the hammer.
0:18:44 > 0:18:48Lot 30, six-room, three-storey mid-terrace townhouse.
0:18:48 > 0:18:51I don't know, start at 280 on this, go upwards from 280.
0:18:51 > 0:18:53280 with you.
0:18:53 > 0:18:54280.
0:18:54 > 0:18:57£280,000.
0:18:57 > 0:18:58285 with you.
0:18:58 > 0:19:01290. 295.
0:19:01 > 0:19:03300.
0:19:03 > 0:19:05305, sir.
0:19:05 > 0:19:07The bidding got off to a flying start.
0:19:07 > 0:19:10We rejoin at £360,000.
0:19:10 > 0:19:12360.
0:19:12 > 0:19:14365.
0:19:14 > 0:19:15370.
0:19:15 > 0:19:18375. 380.
0:19:18 > 0:19:20Have a think.
0:19:20 > 0:19:22375 with you.
0:19:22 > 0:19:24380 elsewhere?
0:19:24 > 0:19:26Phones?
0:19:26 > 0:19:29377, have a crack?
0:19:29 > 0:19:32375, first time,
0:19:32 > 0:19:35second time, third and last time, if you're all done?
0:19:35 > 0:19:37Sold, 375.
0:19:37 > 0:19:39Well done.
0:19:39 > 0:19:43# Blue jeans, white shirt... #
0:19:43 > 0:19:48The successful bid of 375 grand came from Qasim, on the left,
0:19:48 > 0:19:50and Tex, on the right.
0:19:51 > 0:19:55They are professional property developers who have joined forces,
0:19:55 > 0:19:58and I caught up with them to find out their plans for this,
0:19:58 > 0:19:59their fifth property together.
0:19:59 > 0:20:02- Qasim, nice to meet you. Congratulations.- Nice to meet you.
0:20:02 > 0:20:04- Same to you, Tex. - Lovely to meet you too.
0:20:04 > 0:20:06- Good on you, chaps, well done. - Thank you.
0:20:06 > 0:20:08Why this particular property, then?
0:20:08 > 0:20:11It was just in the right area and for the right price,
0:20:11 > 0:20:14so we were looking for something as a longer-term investment,
0:20:14 > 0:20:16we've done a lot of short-term, you know, buy to sell on,
0:20:16 > 0:20:19whereas at the moment now we're looking for something that's going
0:20:19 > 0:20:21to benefit from longer-term capital gains,
0:20:21 > 0:20:23and then it ticked that box,
0:20:23 > 0:20:26along with also somewhere that could offer a good yield.
0:20:26 > 0:20:29OK, did you view the property?
0:20:29 > 0:20:31No!
0:20:31 > 0:20:33- We tried!- Honestly.
0:20:33 > 0:20:37You know... There was unforeseen, you know, things that came up.
0:20:37 > 0:20:41I think it was, we know, we've been looking at the area so much,
0:20:41 > 0:20:44we've just done a project ten minutes away.
0:20:44 > 0:20:46There's only so much that can be wrong with the property,
0:20:46 > 0:20:50looked at the particulars before the auction and went with it.
0:20:50 > 0:20:54Sometimes you've got to be a bit bullish, and it's paid off.
0:20:54 > 0:20:57'Let's hope it won't be a case of famous last words.
0:20:57 > 0:21:01'Are they as confident when it comes to plans for their property?'
0:21:02 > 0:21:05- Looking at it, we're basically looking to do HMO.- OK.
0:21:05 > 0:21:07It's going to be multiple rooms,
0:21:07 > 0:21:09five rooms, and to be quite high-end,
0:21:09 > 0:21:11so with them all to be en suites.
0:21:11 > 0:21:14- Nice.- It's part of the reason why we looked at this area,
0:21:14 > 0:21:18because it's got good transport links that are only going to improve
0:21:18 > 0:21:21with the Crossrail coming, so in terms of the room rental market,
0:21:21 > 0:21:24in terms of what we paid for the property versus what the potential
0:21:24 > 0:21:27rents are, it's a good option for something we're going to keep for
0:21:27 > 0:21:30- the long-term.- Because that's where we see the market going as well,
0:21:30 > 0:21:34house-sharings, co-living, because of the prices, rental prices,
0:21:34 > 0:21:37so we want to be known for high-end HMOs,
0:21:37 > 0:21:40- we want to deliver a brand to the market and be known for that.- OK.
0:21:42 > 0:21:47The plan for the newest property in this brand's empire is to restore
0:21:47 > 0:21:50the top floor to two double bedrooms with en suites,
0:21:50 > 0:21:53so it's goodbye to that tasteful toilet window.
0:21:53 > 0:21:56They'll have another two double bedrooms with en suites on the
0:21:56 > 0:21:59ground floor, with the last double bedroom on the lower ground floor,
0:21:59 > 0:22:02along with all the communal living space.
0:22:04 > 0:22:07- What is your budget, then? - I think we're looking at 40,000.
0:22:07 > 0:22:10OK, start to finish?
0:22:10 > 0:22:12Would you give it a range?
0:22:12 > 0:22:14I think 40,000 is a good ballpark figure,
0:22:14 > 0:22:17and then I think it just is a discussion on any additional,
0:22:17 > 0:22:19because if we do extra things,
0:22:19 > 0:22:23- then potentially it's going to incur additional costs.- OK.
0:22:23 > 0:22:25You know, period properties as well, there's a lot of,
0:22:25 > 0:22:28- "What's behind door number one?" - Exactly!
0:22:28 > 0:22:30When you take off the tiles, you know,
0:22:30 > 0:22:33and having a basement level as well, is there damp? Luckily it looks...
0:22:33 > 0:22:35There's areas, but it looks quite good
0:22:35 > 0:22:38for somewhere with a lower ground level, so I'm quite pleased.
0:22:38 > 0:22:40So 40 grand-ish.
0:22:40 > 0:22:43- Ish!- Tex is thinking, "Ish!"
0:22:43 > 0:22:45- Ish?- I'd say 40 to 50.
0:22:45 > 0:22:46- OK.- Give it that.
0:22:46 > 0:22:49- A bit of leeway.- Yeah. - So 40 to 50 is your budget.
0:22:49 > 0:22:51What about the timescale?
0:22:51 > 0:22:54- Timescale...- Thinking four months?
0:22:54 > 0:22:58- Nah, two to three months. - Oh, I like it!
0:22:58 > 0:23:00Confidence, confidence, come on!
0:23:00 > 0:23:02We've done something similar before,
0:23:02 > 0:23:07so hoping we can learn from those lessons and deal with things quite
0:23:07 > 0:23:09quickly. We've got a good team of people that we work with.
0:23:09 > 0:23:13- Luckily.- That have done things previously with us.
0:23:13 > 0:23:14- We're confident.- I like that, no, I like it,
0:23:14 > 0:23:16you've got to be that way - two to three, four,
0:23:16 > 0:23:19doesn't really matter as long as you're working together.
0:23:19 > 0:23:21You know what you want to achieve, common goals.
0:23:21 > 0:23:23So tell me, what are each of your skills?
0:23:23 > 0:23:25My background is supply chain and logistics,
0:23:25 > 0:23:30so I have a very technical mindset, so it's the project management,
0:23:30 > 0:23:33the scheduling of the contractors,
0:23:33 > 0:23:35and then looking over the budget and timescales.
0:23:35 > 0:23:38And Qasim is very much the more action orientated...
0:23:38 > 0:23:41- Oh, OK.- I'll make it happen!- OK.
0:23:41 > 0:23:43I'm very get up and go, so I'll go out there,
0:23:43 > 0:23:46he'll have an idea and then he'll be like, "Can you go and execute,
0:23:46 > 0:23:48"can you go and speak to these people, can you negotiate the deal?
0:23:48 > 0:23:50"How can you make it happen,
0:23:50 > 0:23:52"how can you make sure that we secure that property?"
0:23:52 > 0:23:55- Just procurement as well. - Get it done.- Yeah.
0:23:55 > 0:23:58Getting it done. So, chaps, I wish you all the best,
0:23:58 > 0:23:59I hope everything works out for you.
0:23:59 > 0:24:01- Qasim, good luck.- Thank you.- Tex,
0:24:01 > 0:24:04- good luck.- Thank you very much.- No problem at all, pleasure, well done.
0:24:05 > 0:24:09So, Tex and Qasim have got big plans for this project.
0:24:09 > 0:24:13They want to turn it into a high-spec HMO,
0:24:13 > 0:24:16but will it be Qasim's estimate of two to three months,
0:24:16 > 0:24:19or will Tex be right with the four-month timescale?
0:24:19 > 0:24:22All will be revealed later in the programme.
0:24:23 > 0:24:27Still to come, this lot in Kent has Lucy changing her thinking.
0:24:27 > 0:24:29If you're not keen on thinking big,
0:24:29 > 0:24:33thinking small might make you a bit of money as well.
0:24:35 > 0:24:40And, back in Plumstead, we find out if Tex and Qasim hit those targets.
0:24:40 > 0:24:41Have to say I was right!
0:24:46 > 0:24:49Back to south Warwickshire now and Leamington Spa.
0:24:51 > 0:24:55Earlier, I looked around this 1930s three-bed semi.
0:24:55 > 0:25:00It had a guide price of in excess of 125,000 and was in reasonable
0:25:00 > 0:25:04condition, apart from one slightly overpowering issue...
0:25:06 > 0:25:08If you were here, you would be smelling...
0:25:08 > 0:25:10Bleurgh! ..what I am smelling.
0:25:10 > 0:25:14This room here, if you glance down at the floor, is sodden,
0:25:14 > 0:25:17and it is sodden with, there is no other word for it, wee.
0:25:22 > 0:25:25The doggy pong raised some worries.
0:25:25 > 0:25:28It could mean replacing floorboards.
0:25:28 > 0:25:30But it didn't put the bidders off on auction day.
0:25:32 > 0:25:33It's yours, sir.
0:25:34 > 0:25:40Bought for £190,000 by 23-year-old mechanical engineer, David.
0:25:40 > 0:25:44David had worked hard and made a lot of sacrifices to save up for this,
0:25:44 > 0:25:48his first property, and he had it all planned out.
0:25:48 > 0:25:52What we're hoping to use it for is for my girlfriend and I to live in,
0:25:52 > 0:25:56but I'd also like to rent out one room to one of her friends, and so,
0:25:56 > 0:25:58that way, it helps us kind of pay back
0:25:58 > 0:26:02little bit of a shorter timescale for the mortgage.
0:26:02 > 0:26:05David was clearly a young man with his head screwed on right
0:26:05 > 0:26:09and he hoped to get his property ready within ten weeks
0:26:09 > 0:26:11and to a budget of 30,000.
0:26:15 > 0:26:18Well, it's now seven months later
0:26:18 > 0:26:20and time to see exactly how David has got on.
0:26:25 > 0:26:29Wow! An excellent extension at the back has opened up this property.
0:26:31 > 0:26:35The once narrow kitchen has now been transformed into an open plan
0:26:35 > 0:26:38kitchen/diner with access to the back garden.
0:26:38 > 0:26:40Brilliant!
0:26:49 > 0:26:52What was once the front reception room is now an extra bedroom and now
0:26:52 > 0:26:56the only smell around here is the sweet smell of success.
0:26:59 > 0:27:02Moving upstairs, the bedrooms are looking lovely.
0:27:17 > 0:27:20The entirely new bathroom suite also adds to the fantastic finish
0:27:20 > 0:27:23throughout this property.
0:27:23 > 0:27:27Outside is work-in-progress but David and his girlfriend, Fleur,
0:27:27 > 0:27:29have done an incredible job here.
0:27:34 > 0:27:37We put the extension on the back of the house,
0:27:37 > 0:27:43we've ripped everything out, we've had rewiring done,
0:27:43 > 0:27:47we've had plumbing done, completely new central heating system.
0:27:47 > 0:27:50We've put in a new kitchen ourselves,
0:27:50 > 0:27:52which was a bit of a challenge, but it was fantastic
0:27:52 > 0:27:55and glad to have done it and saved us some money.
0:27:55 > 0:27:57We've put a new bathroom in, we've redecorated,
0:27:57 > 0:28:00new carpets, so the works.
0:28:00 > 0:28:05They got tradesmen in to do the wiring and plumbing which is a must.
0:28:05 > 0:28:09You should only ever use qualified people for those jobs but I am
0:28:09 > 0:28:12amazed and impressed at them taking on fitting a kitchen,
0:28:12 > 0:28:15and then there was that other job to tackle.
0:28:16 > 0:28:20So the front room smelt pretty bad when we got it.
0:28:20 > 0:28:23We ended up, we didn't rip the floorboards out in the end,
0:28:23 > 0:28:27but we ripped a few out and we used some urine neutraliser, didn't we?
0:28:27 > 0:28:30And some bicarbonate of soda and vinegar.
0:28:30 > 0:28:33It worked pretty well and then we ended up yacht varnishing it.
0:28:33 > 0:28:35The bicarbonate of soda and vinegar was a great one -
0:28:35 > 0:28:37something Fleur found online
0:28:37 > 0:28:39that actually saved us quite a lot of money.
0:28:39 > 0:28:41But before you get your bucket out,
0:28:41 > 0:28:46I know lots of people online like it as a green option.
0:28:46 > 0:28:51But bicarb and vinegar are not just two innocent kitchen ingredients.
0:28:51 > 0:28:54Put together, they create a chemical reaction,
0:28:54 > 0:28:57so you really should tread with care.
0:28:57 > 0:29:00Do thorough research and make sure you protect your hands and eyes and
0:29:00 > 0:29:04always keep the area you're working in ventilated.
0:29:04 > 0:29:06However, with one problem sorted,
0:29:06 > 0:29:09another unexpected challenge came about.
0:29:09 > 0:29:12We didn't realise, there wasn't anything in the legal pack to say
0:29:12 > 0:29:15there was a drain that ran all the way through our garden,
0:29:15 > 0:29:18so underneath where we're standing now in the extension.
0:29:18 > 0:29:21You need the water board's permission
0:29:21 > 0:29:24to build over their drains,
0:29:24 > 0:29:28which took us, it's an eight-week process, and so obviously,
0:29:28 > 0:29:30that is pretty much what put us back
0:29:30 > 0:29:33about two weeks extra for us messing about.
0:29:33 > 0:29:35Well, property developing is always a learning curve,
0:29:35 > 0:29:38but David and Fleur have done an excellent job on this,
0:29:38 > 0:29:41their first project.
0:29:41 > 0:29:47They spent £35,000, which means an investment total of £225,000,
0:29:47 > 0:29:52so will two local estate agents think it as a wise investment?
0:29:53 > 0:29:56My general opinion of the property is it's very well presented,
0:29:56 > 0:29:57it's much improved and it's got
0:29:57 > 0:30:00some nice refurbishment features throughout.
0:30:00 > 0:30:02I think he's done a very good job, actually.
0:30:02 > 0:30:08It's to a level that would let out quite quickly, I would have thought.
0:30:09 > 0:30:12Well, David and Fleur are already letting out two rooms to friends,
0:30:12 > 0:30:14as well as living here themselves.
0:30:14 > 0:30:20The agents valued the rental figures at between 950 and £1,400
0:30:20 > 0:30:22per calendar month.
0:30:22 > 0:30:25That top valuation would mean a yield of just over 7%,
0:30:25 > 0:30:27so what do they make of that?
0:30:29 > 0:30:32That sounds great. But from our point of view, of course,
0:30:32 > 0:30:37the best thing is, at the moment, we're renting two rooms out and
0:30:37 > 0:30:43we're getting a good rental whilst we're living here, so that's good.
0:30:44 > 0:30:46They've come up with a clever plan here -
0:30:46 > 0:30:49creating their own home whilst being prepared to share
0:30:49 > 0:30:52means they can work on getting that mortgage down.
0:30:52 > 0:30:54But what if they decided to sell up?
0:30:54 > 0:30:57What would their 225 grand investment be worth?
0:30:59 > 0:31:02With regard to the sales value of this property,
0:31:02 > 0:31:06I would anticipate it being £235,000.
0:31:06 > 0:31:11I foresee the resale value of the property to be between £240,000 and
0:31:11 > 0:31:16£245,000, with a marketing price of £245,000.
0:31:16 > 0:31:20That top valuation would mean a pre-tax profit of £20,000 minus
0:31:20 > 0:31:23taxes and fees, which is very respectable.
0:31:23 > 0:31:27So how do they see the experience of property developing now?
0:31:29 > 0:31:30Stressful but fun?
0:31:30 > 0:31:33Yeah, stressful, yeah.
0:31:33 > 0:31:35It's been worth it. Worth it.
0:31:35 > 0:31:38But it will be nice now to be able to go into work,
0:31:38 > 0:31:41not tired from working on the house the night before.
0:31:41 > 0:31:43We'll have a bit more social time.
0:31:43 > 0:31:46- Yeah, that as well.- See some friends again or something.
0:31:59 > 0:32:02Today I'm on the Isle of Sheppey in Kent and, yes,
0:32:02 > 0:32:04it is an actual island,
0:32:04 > 0:32:08separated from the mainland by a seawater channel.
0:32:08 > 0:32:12Now, Sheppey is much better connected than it ever has been
0:32:12 > 0:32:15with a vast concrete bridge built seven years ago
0:32:15 > 0:32:17at a cost of 100 million quid,
0:32:17 > 0:32:21and easy access means Sheppey is back on the map with investment in
0:32:21 > 0:32:25the island definitely increasing.
0:32:25 > 0:32:32# Like a bridge over troubled water... #
0:32:32 > 0:32:36The older bridge had to be raised to allow boats to pass underneath but
0:32:36 > 0:32:41today it's easy to visit the pretty Queenborough Harbour where
0:32:41 > 0:32:46Admiral Nelson himself once lived with his mistress, Lady Hamilton.
0:32:46 > 0:32:48A prestigious heritage indeed.
0:32:48 > 0:32:51Will today's lot have quite the same provenance?
0:32:51 > 0:32:56A mere moment's walk from the harbour is the lot I'm here to see,
0:32:56 > 0:32:57and here it is.
0:32:57 > 0:33:00Now I can't pretend from the outside
0:33:00 > 0:33:04it's not fairly disappointing, but you should know by now that the most
0:33:04 > 0:33:08unappealing first impressions can result in exciting opportunities.
0:33:08 > 0:33:10Well, you can but hope.
0:33:10 > 0:33:14Now the guide price, £25,000 to £30,000.
0:33:15 > 0:33:18We've definitely seen worse lots on Homes Under The Hammer.
0:33:18 > 0:33:21Let's keep an open mind.
0:33:21 > 0:33:23Well, from the outside,
0:33:23 > 0:33:27it looks like a workshop and on the inside, it looks like a workshop.
0:33:27 > 0:33:29But it's a fantastic space.
0:33:29 > 0:33:33You've got the little inspection pit here, so if you're a car mechanic,
0:33:33 > 0:33:36you'd go underneath, or, of course, let's not forget a boat.
0:33:36 > 0:33:39This would be a great space to house a boat.
0:33:39 > 0:33:42You've got the harbour 100 yards away.
0:33:42 > 0:33:43It's in really good condition.
0:33:43 > 0:33:45Nice and light to work in.
0:33:45 > 0:33:46Let's see what's out here.
0:33:50 > 0:33:53# Building a boat Building a boat
0:33:53 > 0:33:57# Pieces of wood Pieces of boat... #
0:33:57 > 0:34:00Down the side of the workshop and it's into building number two,
0:34:00 > 0:34:03which seems to be an old office.
0:34:03 > 0:34:06Again, decent space in reasonable nick.
0:34:06 > 0:34:10You've got the loo, a desk, what more do you need?
0:34:11 > 0:34:13There's no space behind this building.
0:34:13 > 0:34:16The plot sits right up to the boundary at the back,
0:34:16 > 0:34:18so this is literally it.
0:34:18 > 0:34:22So what could you do with it, apart from the obvious?
0:34:22 > 0:34:25# Building a boat Building a boat... #
0:34:25 > 0:34:29Now, here's where you're hoping I pull out a big set of plans that
0:34:29 > 0:34:33have already been passed to develop the site into something exciting.
0:34:33 > 0:34:38Well, I'm afraid I can't do that as there aren't any yet.
0:34:38 > 0:34:41Let's face it, this site is house sized,
0:34:41 > 0:34:44and it's in residential street.
0:34:44 > 0:34:47There's plenty of parking and I reckon you could easily fit
0:34:47 > 0:34:49a three-bedroom home on here
0:34:49 > 0:34:53and I've heard a rumour that 20 years ago,
0:34:53 > 0:34:55planning was passed for just that.
0:34:55 > 0:34:59Now, clearly, that doesn't mean you'd get permission now, but it's
0:34:59 > 0:35:01another reason to give it a whirl.
0:35:01 > 0:35:05# Rumour has it Rumour has it... #
0:35:05 > 0:35:09You'd probably not get more than one home on here, but surely there's
0:35:09 > 0:35:12space for a three-bed house.
0:35:12 > 0:35:14Before you get carried away and start thinking big,
0:35:14 > 0:35:17remember you are very close to the waterfront here
0:35:17 > 0:35:20and on the edge of a flood risk zone.
0:35:22 > 0:35:24You'd really need to investigate
0:35:24 > 0:35:29whether restrictions apply to this area as it really is borderline.
0:35:29 > 0:35:33If there are, it does limit what you can build and how you can build it.
0:35:34 > 0:35:37Any other thoughts?
0:35:37 > 0:35:39If you're not keen on thinking big,
0:35:39 > 0:35:42thinking small might make you a bit of money as well.
0:35:42 > 0:35:48Rent this place out as a workshop, and you could make 400 quid a month.
0:35:48 > 0:35:52It would only take you around five years to earn the purchase price
0:35:52 > 0:35:55back and that's if you bought it for around the guide price.
0:35:55 > 0:35:59Now, that is plenty of time to pursue a planning application.
0:35:59 > 0:36:02I can't quite give that idea up yet.
0:36:05 > 0:36:06Yes, it looks like this one is
0:36:06 > 0:36:08rather floating Lucy's boat but what does
0:36:08 > 0:36:11a local estate agent think of this property,
0:36:11 > 0:36:14guided at £25,000 to £30,000?
0:36:16 > 0:36:18This site is a very nice size.
0:36:18 > 0:36:21It's a good plot for a workshop,
0:36:21 > 0:36:26which it has been used for in the past, and could be used again.
0:36:26 > 0:36:30It has potential for planning for a three-bedroom house or possibly two
0:36:30 > 0:36:33one-bedroom flats.
0:36:33 > 0:36:36So as well as a family home, a flat could be an option,
0:36:36 > 0:36:38but do the figures stack up?
0:36:40 > 0:36:45A three-bedroom house in this area would be around £150,000.
0:36:45 > 0:36:50A one-bedroom flat in this area would be around £75,000.
0:36:50 > 0:36:54Those returns sound pretty healthy, but will the buyers be tempted?
0:36:54 > 0:36:58Let's see who thought it was worth the risk at the auction.
0:36:58 > 0:37:01A single storey workshop and office premises with development potential.
0:37:01 > 0:37:04What are we going to say on that one?
0:37:04 > 0:37:06£25,000, hands should be shooting up everywhere.
0:37:06 > 0:37:0825, do I see?
0:37:08 > 0:37:10Gave me 20, then. Start me where you will.
0:37:10 > 0:37:12At 20, I'm on the way.
0:37:12 > 0:37:13And two now, do I see?
0:37:13 > 0:37:16At 22 and four.
0:37:16 > 0:37:1824 and six.
0:37:18 > 0:37:21And eight. 28 and 30.
0:37:21 > 0:37:2329 if you like?
0:37:23 > 0:37:24Yes, 29.
0:37:24 > 0:37:27And 30. At 30 and one.
0:37:27 > 0:37:28At £30,000 bid I've got.
0:37:28 > 0:37:30One, I'm looking for now.
0:37:30 > 0:37:32One, do I see? We're all done at £30,000.
0:37:32 > 0:37:34In the room, it's going to be sold.
0:37:34 > 0:37:38£30,000 then, back row, left hand side, maiden bid for the first time,
0:37:38 > 0:37:40second, third and final time...
0:37:40 > 0:37:42Are we all...
0:37:42 > 0:37:4431, I've got. 31 I've got.
0:37:44 > 0:37:4732, sir? 31 and a half because you were so close?
0:37:47 > 0:37:49So close. No?
0:37:49 > 0:37:52£31,000, then, I have for the first time.
0:37:52 > 0:37:56£31,000 unless I get another 500 for the second time.
0:37:56 > 0:37:58Third and final time at £31,000.
0:37:58 > 0:38:02Are we all done? Yours at 31, then, sir, late bid but well done.
0:38:02 > 0:38:06The successful bid of 31,000 came from Steve.
0:38:06 > 0:38:08Steve and his wife, Hasmita,
0:38:08 > 0:38:11are professional property developers
0:38:11 > 0:38:13and regular viewers of the show might
0:38:13 > 0:38:17remember them from 2008 when they bought a two-bed terrace in
0:38:17 > 0:38:19Sittingbourne. This time round,
0:38:19 > 0:38:23they met Lucy to share their plans for their newest acquisition.
0:38:23 > 0:38:25So congratulations on this.
0:38:25 > 0:38:27Did you expect to get it on the day?
0:38:27 > 0:38:32Well, to be honest with you, it started off about 25,000 and I kept
0:38:32 > 0:38:35out of it and it was between two other people.
0:38:35 > 0:38:37I thought, in my head,
0:38:37 > 0:38:41I thought, "I'm going to go up to 35,000, so I went 31
0:38:41 > 0:38:43and I thought it was going to go a bit further with
0:38:43 > 0:38:45someone else but it didn't so I actually
0:38:45 > 0:38:48got it and I was really pleased that I got it for 31.
0:38:48 > 0:38:51You are the perfect husband and wife team, is that right?
0:38:51 > 0:38:53Yes, I have to do as I'm told!
0:38:53 > 0:38:55Hasmita, what's your involvement?
0:38:55 > 0:38:57I do all the money side of it, basically.
0:38:57 > 0:39:00Once he says, "I need the money for this, I need money for that,"
0:39:00 > 0:39:03I manage all the financing and he
0:39:03 > 0:39:06does all the building and then on the side of that,
0:39:06 > 0:39:09I do quite a lot of voluntary work as well for local
0:39:09 > 0:39:12charities and my own charity.
0:39:12 > 0:39:14So you're a busy, busy couple?
0:39:14 > 0:39:18Yeah. She gives me pocket money, basically!
0:39:18 > 0:39:20Steve and Hasmita have been renting
0:39:20 > 0:39:22and renovating properties for the past
0:39:22 > 0:39:2616 years and Hasmita also runs her own charity for victims of domestic
0:39:26 > 0:39:29violence. So while they definitely
0:39:29 > 0:39:32have their hands full with various projects,
0:39:32 > 0:39:36they have big plans for the plot.
0:39:36 > 0:39:39So, guys, come on, spill the beans, what I want to know is
0:39:39 > 0:39:42what are you going to do here? Why have you bought this?
0:39:42 > 0:39:44- Well...- He didn't tell me he was buying it!
0:39:44 > 0:39:46He didn't tell you?
0:39:46 > 0:39:48- No.- Oh, that's a bit sneaky of you, Steve.
0:39:48 > 0:39:50I was at a spa day and he phoned me up.
0:39:50 > 0:39:55Basically what it was, because when you go to auction, you never know,
0:39:55 > 0:39:58do you? You go there and it can go silly money.
0:39:58 > 0:40:02If it went 50,000 or something, I wouldn't be interested.
0:40:02 > 0:40:06Basically, Queenborough is a nice place to live.
0:40:06 > 0:40:08It's got a little marina over the back there
0:40:08 > 0:40:11and it's got a regeneration programme.
0:40:11 > 0:40:14They haven't actually started it
0:40:14 > 0:40:17because of the money and the recession,
0:40:17 > 0:40:20but if they do start it, they'll have little restaurants along there.
0:40:20 > 0:40:22There's loads of nice houses,
0:40:22 > 0:40:25- there's going to be a lot going on. - So you thought,
0:40:25 > 0:40:28- "Let's get in early and be ahead of the game"?- That's right.
0:40:28 > 0:40:31So, like all good property auction goers,
0:40:31 > 0:40:32Steve did his homework,
0:40:32 > 0:40:35spotting opportunity where others
0:40:35 > 0:40:38might have just seen a couple of tired old sheds.
0:40:38 > 0:40:39What's the plan?
0:40:39 > 0:40:44We're going to knock all this down and we're going to build
0:40:44 > 0:40:48two one-bedroom flats or two two-bedroom flats if we can.
0:40:48 > 0:40:51Obviously we're going to work with the council.
0:40:51 > 0:40:53If they accept that,
0:40:53 > 0:40:55that's what we'll be doing but if they don't accept that,
0:40:55 > 0:40:57then we're going to try and put a three
0:40:57 > 0:40:59or three-/four-bedroom house on it.
0:40:59 > 0:41:02OK, but what about the fact you're looking at building flats?
0:41:02 > 0:41:04I'm quite surprised at that,
0:41:04 > 0:41:08purely because I'm assuming there's a slight flood risk.
0:41:08 > 0:41:10Are you in the flood plain area here?
0:41:10 > 0:41:12I think we're just out of it.
0:41:12 > 0:41:15Because obviously building flats means you've got to have sleeping
0:41:15 > 0:41:18accommodation on the ground floor whereas if it was a house,
0:41:18 > 0:41:20you could put the sleeping accommodation on the top floor
0:41:20 > 0:41:23so that's the only thing that would concern me about building flats.
0:41:23 > 0:41:26I think you just get more for your
0:41:26 > 0:41:28money if you did do flats but if not,
0:41:28 > 0:41:31a house is fine. We've been having a debate about a four bed.
0:41:31 > 0:41:33I'm trying to get the extra in!
0:41:33 > 0:41:35So, Hasmita, you're the lady who holds the purse strings.
0:41:35 > 0:41:37- Yeah.- What's the budget?
0:41:37 > 0:41:41I think it's going to be around 90,000 to do this project.
0:41:41 > 0:41:43- Am I right?- Do you agree?
0:41:43 > 0:41:47Yeah, I said 90,000 but I think we could get away with 80.
0:41:47 > 0:41:50- Really?- Yeah.- That means ten grand for me!
0:41:50 > 0:41:52You've got to allow 90 but we've
0:41:52 > 0:41:55allowed 100 so we're pretty good there.
0:41:55 > 0:41:57For two separate flats?
0:41:57 > 0:41:59- Yes.- One-bedroom flats, two-bedroom flats?
0:41:59 > 0:42:01Hopefully we'll try to get two two-bedroom flats.
0:42:01 > 0:42:05That would be ideal but if it comes to it and they say, "No,
0:42:05 > 0:42:07"there's not enough room," we'll accept two one-bedroom flats,
0:42:07 > 0:42:11- it'll be fine.- What is the rental potential on two two-bedroom flats?
0:42:11 > 0:42:16With two bedrooms, about 625 each.
0:42:16 > 0:42:20The value of the two flats will be just near 100 each.
0:42:20 > 0:42:23So, I can see why you're choosing the flats over a house.
0:42:23 > 0:42:26- Yes.- So, how long do you think it's going to take you?
0:42:26 > 0:42:28Probably about six months altogether.
0:42:28 > 0:42:31It could go into... To be honest with you,
0:42:31 > 0:42:35it will take eight months but we're hoping to get it done in six months,
0:42:35 > 0:42:37- basically.- Wow, to complete the project,
0:42:37 > 0:42:39and then onto your next one?
0:42:39 > 0:42:41Yes, onto the next one.
0:42:41 > 0:42:43- We're always looking.- He can get
0:42:43 > 0:42:45one done before the end of this year!
0:42:45 > 0:42:49To be honest with you, we have got other projects to do anyway but we'd
0:42:49 > 0:42:54like to get this one done first, purely because obviously,
0:42:54 > 0:42:57it's sitting here, it's renting, it's quite exciting as well.
0:42:57 > 0:42:59Guys, I can't wait to see what you do here.
0:42:59 > 0:43:02Congratulations and I hope you do get the permissions you need.
0:43:02 > 0:43:06- Thank you very much.- Lovely to meet you. Nice to meet you.- Thank you.
0:43:06 > 0:43:10So, two-bed flats, one-bed flat, a three-bed house,
0:43:10 > 0:43:13what will we find here when we return?
0:43:13 > 0:43:16Who knows? You can find out later on in the programme.
0:43:19 > 0:43:23When you're doing up a property, it can take longer than you think,
0:43:23 > 0:43:26so, remember, just put a few days in lieu, just in case.
0:43:26 > 0:43:28Yes. We've seen how one property turned out,
0:43:28 > 0:43:31but what about the budget and timescales for the others?
0:43:31 > 0:43:33Have they stuck to them? Let's go back and find out.
0:43:36 > 0:43:39Back now to south-east London and Plumstead.
0:43:39 > 0:43:43It was here I looked around this mid-terrace property that was guided
0:43:43 > 0:43:46at £270,000 plus.
0:43:47 > 0:43:49It was in need of updating but it
0:43:49 > 0:43:52did have good room proportions, although
0:43:52 > 0:43:55some of the features were a little unusual.
0:43:55 > 0:43:57I've thought about this one.
0:43:57 > 0:43:59I knew I was missing something at home.
0:43:59 > 0:44:03A window off my toilet over the stairs.
0:44:03 > 0:44:07# I've got a room
0:44:09 > 0:44:12# I've got a room with a view... #
0:44:12 > 0:44:15Spread over three levels, including the basement,
0:44:15 > 0:44:17plus some outdoor space,
0:44:17 > 0:44:19this property screamed potential.
0:44:19 > 0:44:23Two gentlemen who recognised that were business partners Qasim,
0:44:23 > 0:44:25here on the left, and Tex.
0:44:26 > 0:44:29They paid £375,000 at auction and
0:44:29 > 0:44:33had some very exciting plans for this tired terrace.
0:44:34 > 0:44:37Looking at it, we're basically looking to do a HMO.
0:44:37 > 0:44:41So, multiple rooms, five rooms, to be quite high-end,
0:44:41 > 0:44:43so we want them all to be en suites.
0:44:43 > 0:44:48So five rooms, all en suites so we want to be known for high-end HMOs.
0:44:48 > 0:44:52We want to deliver a brand to the market and be known for that.
0:44:54 > 0:44:56The HMO or house in multiple occupancy
0:44:56 > 0:45:01made a lot of sense with Crossrail improving already decent links to
0:45:01 > 0:45:02London city centre.
0:45:02 > 0:45:05This was a plum spot for professionals.
0:45:05 > 0:45:08The boys have already worked together for several years -
0:45:08 > 0:45:11Tex looking after the logistics, Qasim project managing.
0:45:11 > 0:45:14To get this property how they wanted it,
0:45:14 > 0:45:17they had a budget of 40 grand and a timescale of...
0:45:17 > 0:45:19Well, that was up for debate.
0:45:19 > 0:45:21The timescale...
0:45:21 > 0:45:23Three-four months?
0:45:23 > 0:45:24Nah. Two-three months.
0:45:24 > 0:45:27- Ah, I like it!- Confidence.
0:45:27 > 0:45:28Confidence, come on!
0:45:30 > 0:45:34It's five months on and that high-end HMO they promised?
0:45:34 > 0:45:36Well, I'm confident.
0:45:46 > 0:45:49Well, what an absolutely brilliant property.
0:45:51 > 0:45:55On the ground floor are two of the five bedrooms Qasim and Tex have
0:45:55 > 0:45:59created, all with those en suites they promised.
0:46:03 > 0:46:08Moving to the top floor, each room is beautifully finished and unique.
0:46:08 > 0:46:12Plus, that split room is a thing of the past.
0:46:12 > 0:46:15So this bedroom used to be two rooms.
0:46:15 > 0:46:17There was a partition wall up here.
0:46:17 > 0:46:21It was a very small boxroom, so for the purpose of a shared house,
0:46:21 > 0:46:23it just wouldn't have worked for us,
0:46:23 > 0:46:26so we removed that and created two en suites
0:46:26 > 0:46:28for this room and the room next door,
0:46:28 > 0:46:30which meant we had two good-sized rooms.
0:46:30 > 0:46:33Really pleased with the way it turned out.
0:46:33 > 0:46:36The room next door is just as impressive.
0:46:39 > 0:46:44That room with a view is now a useful bit of storage for tenants
0:46:44 > 0:46:47and, heading all the way down to the basement,
0:46:47 > 0:46:49this property continues to impress.
0:46:58 > 0:47:00Contemporary, fresh, clean lines.
0:47:00 > 0:47:03Just what young professionals are looking for.
0:47:05 > 0:47:08And where there once was a grotty bathroom,
0:47:08 > 0:47:11there's now a communal dining room.
0:47:18 > 0:47:21The fifth and last bedroom is a great size,
0:47:21 > 0:47:24plus it benefits from its own entrance.
0:47:29 > 0:47:32Stepping out the back, and even the garden's been spruced up.
0:47:32 > 0:47:34And the building itself?
0:47:34 > 0:47:37Well, it's expertly rendered.
0:47:41 > 0:47:45This is one very smart HMO and I like the fact that all the rooms
0:47:45 > 0:47:47have a bit of individuality.
0:47:48 > 0:47:52When it comes to property developing, these guys are no mugs.
0:47:52 > 0:47:55So the first thing was removing the chimneybreast to give
0:47:55 > 0:47:59the additional space in the rooms, because it does, you know,
0:47:59 > 0:48:01take up quite a bit of space and just where
0:48:01 > 0:48:03we're trying to create good-sized
0:48:03 > 0:48:06double bedrooms, it's important to maximise where possible.
0:48:06 > 0:48:08New staircase...
0:48:08 > 0:48:13With the fire regulations, for HMO requirements.
0:48:13 > 0:48:15The local authority will only grant
0:48:15 > 0:48:18a licence when you have complied with
0:48:18 > 0:48:21the regulations on fire safety and amenities.
0:48:21 > 0:48:25Qasim and Tex knew all about those jobs and budgeted for them.
0:48:25 > 0:48:28But there is always the unexpected.
0:48:28 > 0:48:32We had to render the front and rear of the property, which wasn't
0:48:32 > 0:48:34originally sort of costed for,
0:48:34 > 0:48:37some changes to the staircases...
0:48:37 > 0:48:40One issue was we had to replace the cylinder, as well,
0:48:40 > 0:48:41in the loft because we didn't
0:48:41 > 0:48:43realise the loft height was so short.
0:48:43 > 0:48:46So just little things like that, but nothing, you know...
0:48:46 > 0:48:49As builds go, nothing too bad.
0:48:49 > 0:48:51When we initially visited,
0:48:51 > 0:48:54they thought the budget would be around £40,000.
0:48:54 > 0:48:57It's come in at £56,000,
0:48:57 > 0:48:59which isn't too bad.
0:48:59 > 0:49:02But what about that timescale? Who was right?
0:49:02 > 0:49:04So the timescale - I have to say, I was right.
0:49:06 > 0:49:10Just under three months for the entire refurbishment which,
0:49:10 > 0:49:12for a project of this scale, you know,
0:49:12 > 0:49:15we're very pleased about and we're kind of, you know,
0:49:15 > 0:49:16satisfied with the results.
0:49:16 > 0:49:18Yeah, 100%.
0:49:19 > 0:49:23This project has now cost £431,000.
0:49:23 > 0:49:26So have the boys made a sound investment?
0:49:26 > 0:49:30We asked along two local estate agents for their opinions.
0:49:30 > 0:49:33My first impressions of this property are
0:49:33 > 0:49:37it's been basically converted to a fantastic level and a fantastic
0:49:37 > 0:49:40specification. Definitely targeted at the young professionals.
0:49:40 > 0:49:43I really like the layout of the property.
0:49:43 > 0:49:45Every room's been individually designed.
0:49:45 > 0:49:47You've got an en suite for every individual room.
0:49:47 > 0:49:50And you've got a kitchen next to the dining area which works really,
0:49:50 > 0:49:52- really well.- Converting this
0:49:52 > 0:49:54property in this way for the HMO market is
0:49:54 > 0:49:58definitely the most efficient use of space and generates the most income.
0:49:58 > 0:50:00Let's find out what kind of rental
0:50:00 > 0:50:04can be expected for this property as a HMO.
0:50:04 > 0:50:07In the current climate, I believe this property will achieve
0:50:07 > 0:50:12between £600-£625 per calendar month, per room.
0:50:12 > 0:50:17And both agents agree, so what could that mean for monthly income?
0:50:17 > 0:50:21That would give a total yield for the property of between £3,000 and
0:50:21 > 0:50:23£3,125 per calendar month.
0:50:23 > 0:50:26I think those valuations are very good.
0:50:26 > 0:50:30We came in at 3,200, so, collectively, both agents
0:50:30 > 0:50:35have come in with a figure that is where we targeted to hit.
0:50:35 > 0:50:40Tex and Qasim's projected figure of £3,200 would give them an annual
0:50:40 > 0:50:44yield of nearly 9%, which is pretty good.
0:50:44 > 0:50:46And although they have no intention of selling,
0:50:46 > 0:50:51the top resale valuation for the whole shebang was 480 grand.
0:50:51 > 0:50:56That could be a profit of £49,000 minus taxes and fees,
0:50:56 > 0:50:58but in the long term, HMO is the plan.
0:50:58 > 0:51:01So what's next?
0:51:01 > 0:51:03We've got another three projects
0:51:03 > 0:51:05similar to this that are coming up so
0:51:05 > 0:51:08it's going to be a busy period and we just plan to grow and keep moving
0:51:08 > 0:51:12forward. This will add growth and we will keep growing the business and
0:51:12 > 0:51:13keep doing the same thing.
0:51:13 > 0:51:15Mm-hm. Happy landlords, happy tenants!
0:51:19 > 0:51:22Time to sail back to the Isle of Sheppey in Kent
0:51:22 > 0:51:26where Lucy viewed a lot just moments from the harbour.
0:51:26 > 0:51:29On the plot, guided at 25,000-30,000,
0:51:29 > 0:51:31stood an old workshop that,
0:51:31 > 0:51:34from the outside at least, wasn't the most inspiring.
0:51:38 > 0:51:41# Come on, everybody, and rock the boat... #
0:51:41 > 0:51:44Well, from the outside, it looks like a workshop and, on the inside,
0:51:44 > 0:51:47it looks like a workshop,
0:51:47 > 0:51:50but it's a fantastic space.
0:51:50 > 0:51:53Look, you've got the little inspection pit here so,
0:51:53 > 0:51:55if you're a car mechanic, you'd go underneath, or, of course,
0:51:55 > 0:51:57let's not forget, a boat.
0:51:57 > 0:51:59This would be a great space to house a boat.
0:51:59 > 0:52:02You've got the harbour 100 yards away.
0:52:02 > 0:52:03# Oh, rock the boat
0:52:03 > 0:52:07# To beautiful
0:52:07 > 0:52:08# Beautiful music... #
0:52:08 > 0:52:11The shed was certainly functional and,
0:52:11 > 0:52:15along with the office space at the rear of the plot, complete with WC,
0:52:15 > 0:52:19there was ample opportunity to get this on the rental market ASAP.
0:52:19 > 0:52:23But Lucy had bigger fish to fry for this harbour-side shed.
0:52:25 > 0:52:29Let's face it, this site is house-sized,
0:52:29 > 0:52:31and it's in a residential street.
0:52:31 > 0:52:34There's plenty of parking and I reckon you could easily fit
0:52:34 > 0:52:37a three-bedroom home on here
0:52:37 > 0:52:40and I've heard a rumour that 20 years ago,
0:52:40 > 0:52:43planning was passed for just that.
0:52:43 > 0:52:45And when it came up for auction,
0:52:45 > 0:52:50professional property developers and husband and wife, Steve and Hasmita,
0:52:50 > 0:52:52had a similar idea and snapped it up for 31,000.
0:52:55 > 0:52:59We're going to knock all this down, and we're going to build
0:52:59 > 0:53:04two one-bedroom flats or two two-bedroom flats, if we can.
0:53:04 > 0:53:06Obviously, we're going to work with the council.
0:53:06 > 0:53:09If they accept that,
0:53:09 > 0:53:12that's what we'll be doing but if they don't accept that,
0:53:12 > 0:53:16then we're going to try to put a three-/four-bedroom house on here.
0:53:16 > 0:53:19All their plans were permission dependent but
0:53:19 > 0:53:23for their first choice of two two-bedroom flats,
0:53:23 > 0:53:27they expected the work to cost in the region of 90,000 and take around
0:53:27 > 0:53:30six months to build.
0:53:30 > 0:53:33Well, two-and-a-half years later, we're back...
0:53:34 > 0:53:35..and it looks just the same.
0:53:39 > 0:53:44Same windows, same workshop,
0:53:44 > 0:53:47same office.
0:53:47 > 0:53:49So what happened to all those options
0:53:49 > 0:53:51Steve and Hasmita had in mind?
0:53:51 > 0:53:56Well, since we last saw you, we've actually got the planning.
0:53:56 > 0:53:58We've got planning for two
0:53:58 > 0:54:00three-bedroom semi-detached properties.
0:54:00 > 0:54:03The only reason we haven't built it is because we've been doing
0:54:03 > 0:54:05developments since.
0:54:05 > 0:54:08We've actually built four one-bedroom flats.
0:54:08 > 0:54:11And that's took about a year and, the following year,
0:54:11 > 0:54:13we had a three-bedroom house
0:54:13 > 0:54:16and we converted it to two one-bedroom flats
0:54:16 > 0:54:18and two two-bedroom flats.
0:54:18 > 0:54:22And basically, we've got another project to do so,
0:54:22 > 0:54:23the following year,
0:54:23 > 0:54:27we're hoping to jump on here and build these two.
0:54:27 > 0:54:29We might be doing it sooner.
0:54:29 > 0:54:30Yeah, we might be doing it sooner.
0:54:30 > 0:54:32She keeps me busy all the time, so...
0:54:34 > 0:54:35With the build for the two
0:54:35 > 0:54:37three-bedroom semis planned for a year's time,
0:54:37 > 0:54:41the couple are really proving they are the perfect team.
0:54:42 > 0:54:46Steve will be doing the groundwork and project managing, while Hasmita
0:54:46 > 0:54:51will be in charge of their 120,000-150,000 budget.
0:54:51 > 0:54:53These are the two houses.
0:54:53 > 0:54:56They're quite traditional for this area.
0:54:56 > 0:55:00So on this plot of land, we've got two three-bedroom properties.
0:55:00 > 0:55:03We've got living area at the bottom,
0:55:03 > 0:55:07two bedrooms on the second floor and then one bedroom inside the loft.
0:55:07 > 0:55:12The architect did a wonderful job for us, so we've got two bedrooms,
0:55:12 > 0:55:15kitchen and a living room, and a downstairs toilet
0:55:15 > 0:55:16and another bedroom at the top.
0:55:16 > 0:55:19So they're quite good family properties.
0:55:19 > 0:55:24So it would be all in keeping with the community and environment.
0:55:24 > 0:55:25The couple's plans will really
0:55:25 > 0:55:28maximise the potential of the land that,
0:55:28 > 0:55:31let's not forget, only cost them £31,000.
0:55:31 > 0:55:35The shed hasn't just been sitting empty, either.
0:55:35 > 0:55:39It's been rented as a boatyard almost the entire time,
0:55:39 > 0:55:42bringing in a yield of over 11.5%.
0:55:42 > 0:55:46Buying this plot has really been a savvy business decision,
0:55:46 > 0:55:50so hopefully they'll be imparting some of that know-how to their kids.
0:55:50 > 0:55:53We've got three sons that are sort of helping us as well now.
0:55:53 > 0:55:55They're starting to get interested.
0:55:55 > 0:55:57They are buying their first...
0:55:57 > 0:55:59We're helping them by their first property,
0:55:59 > 0:56:02but they've got to save up their deposit theirselves, so nothing...
0:56:02 > 0:56:05We only started off with £30,000.
0:56:05 > 0:56:06And it can be done,
0:56:06 > 0:56:10so I'm encouraging my sons to do that now as well,
0:56:10 > 0:56:13so, hopefully, it'll be family business.
0:56:13 > 0:56:16Can they lead by example and make a profit on their projected
0:56:16 > 0:56:19£181,000 spend?
0:56:19 > 0:56:21We invited two local estate agents
0:56:21 > 0:56:24to tell us what they thought of the plans.
0:56:25 > 0:56:28I think they've maximised the potential of the plot,
0:56:28 > 0:56:30considering it's so small.
0:56:30 > 0:56:32I believe these properties are well-suited to the area.
0:56:32 > 0:56:37They fit in with similar properties around, and are always popular.
0:56:37 > 0:56:38The fact they've got planning for
0:56:38 > 0:56:41two three-bedroom semi-detached houses on
0:56:41 > 0:56:45this particular plot is quite remarkable,
0:56:45 > 0:56:47bearing in mind the size of it.
0:56:47 > 0:56:51I think fair play to the architect for the drawings.
0:56:51 > 0:56:54It's certainly better than a sort of falling-down shed
0:56:54 > 0:56:56that's on here at the moment.
0:56:56 > 0:56:59The couple's plans are really making the most of the land,
0:56:59 > 0:57:02but two houses means paying for two of everything so
0:57:02 > 0:57:06will they see a return on their projected £181,000 investment?
0:57:09 > 0:57:12I believe that if the properties are built as per the plans,
0:57:12 > 0:57:16they'll be worth about £175,000 each.
0:57:16 > 0:57:19I'd expect the prices to achieve somewhere in the region of around
0:57:19 > 0:57:23£180,000 for each house.
0:57:23 > 0:57:26- That's really good. - Yeah, for my wife, not me!
0:57:26 > 0:57:28That's really, really good.
0:57:28 > 0:57:30I mean, I didn't expect it to be
0:57:30 > 0:57:32that much so that's quite a shock for us.
0:57:32 > 0:57:34Based on the top value,
0:57:34 > 0:57:38the properties could sell for a combined £360,000.
0:57:38 > 0:57:43That's 179 grand profit, minus taxes and fees.
0:57:43 > 0:57:45Does that mean Hasmita has forgiven
0:57:45 > 0:57:48Steve for buying the plot without her?
0:57:48 > 0:57:50He's done really well.
0:57:50 > 0:57:55Really proud of him, because he can see potential building projects
0:57:55 > 0:57:58where I can't, so we work as a good team in that way.
0:57:58 > 0:58:02Yeah, to be honest with you, I couldn't do it without Hazzy anyway.
0:58:02 > 0:58:03So, you know...
0:58:05 > 0:58:07She's my... She's my rock.
0:58:11 > 0:58:13So that's it for today's show but
0:58:13 > 0:58:17anything can and does happen on planet property.
0:58:17 > 0:58:20So please join us here again next time on Homes Under The Hammer.
0:58:20 > 0:58:22- See you then.- See you.- Goodbye.