0:00:02 > 0:00:06We're all tempted by those glamorous properties advertised in newspapers and magazines.
0:00:06 > 0:00:08But don't you find they're always over budget?
0:00:08 > 0:00:14Yes, but one way to get interesting properties at good value is to visit the auction rooms.
0:00:40 > 0:00:45Everything looks good with this flat in Folkestone, Kent, until, that is, you go round the back.
0:00:45 > 0:00:48It's a concrete jungle, you don't want to look at that!
0:00:49 > 0:00:54This two-bedroomed house in Surrey looks normal from the outside.
0:00:54 > 0:00:59But just walk through those doors... and it gets really, really weird.
0:01:01 > 0:01:04These properties have been sold at auction.
0:01:04 > 0:01:08We'll find out who bought them and what they paid when they went under the hammer.
0:01:08 > 0:01:09House sold!
0:01:14 > 0:01:18Folkestone in Kent is on the up, a local council have great plans
0:01:18 > 0:01:25for the area. High-speed rail links, new shopping centres and houses are all scheduled in the next few years.
0:01:26 > 0:01:30I love these old, grand Victorian houses.
0:01:30 > 0:01:33Years ago, rich merchants would have lived in them
0:01:33 > 0:01:35with their families and their servants.
0:01:35 > 0:01:40Today, as you can see, they've become a little more run down and they've been converted into flats.
0:01:40 > 0:01:46I've come to see a ground-floor flat, it's got a garden and it's right there.
0:01:46 > 0:01:50That gorgeous Victorian frontage is looking a little bit tired,
0:01:50 > 0:01:54the garden's a mess and you'd want to get the roof checked out,
0:01:54 > 0:01:59but the guide price of just 65,000 to 70,000 takes all that into account.
0:02:01 > 0:02:04Got to say, first impressions aren't great.
0:02:04 > 0:02:09Lots of tiles all broken down here, the doors are a bit wobbly,
0:02:09 > 0:02:12there's bikes and prams all piled up in the corner.
0:02:12 > 0:02:16The next-door flat hasn't even got a front door.
0:02:16 > 0:02:23Now, I've done my research and I do know the maintenance charges here are £800 a year.
0:02:23 > 0:02:26I'd want to know where my money's going, I think.
0:02:26 > 0:02:30It gets better through here, looks as though the hallway's decorated,
0:02:30 > 0:02:34there's some nice spotlights, a good-sized lounge,
0:02:34 > 0:02:38but the floorboards are up - warning signs - maybe there's some dry-rot,
0:02:38 > 0:02:41some damp, it's definitely worth having that looked at.
0:02:41 > 0:02:45But you've got a spectacular Victorian bay window. Another good-sized room here.
0:02:45 > 0:02:52You've got views out to the terrace, painted a funny lilac colour, but apart from that, it's looking good.
0:02:52 > 0:02:56Moving through, the colour scheme changes in the second bedroom.
0:02:56 > 0:02:59This is pretty small, but you could fit a single bed in here.
0:03:02 > 0:03:05At the end of the corridor is the kitchen.
0:03:05 > 0:03:08Looks as though there's quite a bit of work going on, some rewiring, etc.
0:03:08 > 0:03:14You've got a new window, that's going to let in lots of light, but a nice square kitchen.
0:03:14 > 0:03:17You're going to have to think about replacing all the units in here,
0:03:17 > 0:03:20but through the kitchen, you get to the bathroom.
0:03:20 > 0:03:23By the sound of it, there's a dodgy boiler in the corner.
0:03:23 > 0:03:27That's going to definitely need to be looked at, but it's a good space.
0:03:27 > 0:03:30You've got lovely white and blue tiles, fairly new,
0:03:30 > 0:03:34a nice, new white bathroom suite, but sadly,
0:03:34 > 0:03:37to get to the garden, you have to walk through the bathroom.
0:03:37 > 0:03:42So that's one hurdle to cross... Oh, no, there's another one.
0:03:42 > 0:03:45If you'd just go right the way down the end of the garden...
0:03:45 > 0:03:48Keep going back, keep going...stop!
0:03:48 > 0:03:51Now take a look at that.
0:03:51 > 0:03:54It's a concrete jungle, you don't want to look at that!
0:03:54 > 0:03:59There's a couple of flats with roof terraces up there and a really dodgy-looking fire escape.
0:03:59 > 0:04:03It looks like it's about to fall down at any moment.
0:04:03 > 0:04:05Now this is the really interesting thing.
0:04:05 > 0:04:11In the legal pack, there's a quote for a new fire escape. The cost?
0:04:11 > 0:04:13£36,000!
0:04:13 > 0:04:17Now that's going to have to be divided up between the three flats.
0:04:17 > 0:04:23Let's just hope the buyer has read the legal pack and factored that into the costs.
0:04:23 > 0:04:27It's things like this that make reading the legal pack so important.
0:04:27 > 0:04:30Always read it before thinking about bidding at auction.
0:04:34 > 0:04:36I would usually say a two-bedroom garden flat
0:04:36 > 0:04:41with a guide price of £65,000 to £70,000 was a no-brainer.
0:04:41 > 0:04:46However, with the high service charge and, of course, this little beauty here,
0:04:46 > 0:04:52I would want to find out a whole load more about this flat before I bid for her at auction.
0:04:57 > 0:05:03Guide price of 65 to 70, pop this one straight in. £65,000 to start me?
0:05:03 > 0:05:0565,000 anywhere?
0:05:05 > 0:05:1165,000, I'm bid by the door. At £65,000 I'm bid, and 67 do I see?
0:05:11 > 0:05:1867 I have, and 70, 70 in a fresh place, and 72,
0:05:18 > 0:05:24at 70,000, 72 by the door, 75 is bid, 77,
0:05:24 > 0:05:3075 I have bid is sitting, you're out by the door at 75, 77 in a fresh place,
0:05:30 > 0:05:3578 is bid, and 80, 80 I have, and 82,
0:05:35 > 0:05:40being sold then for the first time at 80,000, 82 in another fresh place,
0:05:40 > 0:05:43at 84, 85 is bid,
0:05:43 > 0:05:49that was a very reluctant bid this side, 86, 86 I have, and 87.
0:05:49 > 0:05:54At 86,000 then, for the first time at 86,000,
0:05:54 > 0:05:55for the second time at 86,000.
0:05:55 > 0:06:02Your last chance at 86,000, bid's on my left hand side, are you all done for the third and final time?
0:06:02 > 0:06:06Sold at £86,000 and your bidder's number is 3278.
0:06:06 > 0:06:10The winning pair are friends and business partners Nick and Neil.
0:06:10 > 0:06:15They've known each other since university, where they graduated as physiotherapists.
0:06:15 > 0:06:20They now run their own practice together, which is what led them into property development.
0:06:22 > 0:06:25So what I want to know, what really led you into this project?
0:06:25 > 0:06:30Well, I think that everybody knows that property is a good investment if you get it at the right price
0:06:30 > 0:06:34and with the physiotherapy, we treat a lot of builders and developers,
0:06:34 > 0:06:39and you have conversations while you treat them, and they sowed the seed,
0:06:39 > 0:06:43"Maybe, shall we chance our arm?" We went to a few auctions, got an idea of the market,
0:06:43 > 0:06:48what the process was and we decided if you're going to do it, you might as well take the risk.
0:06:48 > 0:06:52That's what we've done and, so far, other than seeing the damp patches, we have no regrets.
0:06:52 > 0:06:57No, I think there's not a great deal to be scared of, you know,
0:06:57 > 0:07:02I think if you're happy to rip things up and roll your sleeves up,
0:07:02 > 0:07:07I think the basic structure has been here for however long it's been here, 100 years or so,
0:07:07 > 0:07:11I think you can't go far wrong.
0:07:11 > 0:07:15One of the things which did worry me was the proposed price for a stairwell
0:07:15 > 0:07:19out the back of the property, cos it's a concrete stairwell, it needs to be replaced.
0:07:19 > 0:07:23I think the price quoted was in excess of £30,000.
0:07:23 > 0:07:26Now, we've talked to a company that makes metal stairwells
0:07:26 > 0:07:29and they told us you can get one for that height for £4,500.
0:07:29 > 0:07:33Now, clearly, the maintenance company, there is a mark-up,
0:07:33 > 0:07:38but it has to be a reasonable mark-up and we will have some issues if they try to push that through.
0:07:38 > 0:07:43We'll have to establish a relationship with the management company, it's fair to say.
0:07:43 > 0:07:46- I like the way you put that, very diplomatic.- Yes!- Well put.
0:07:46 > 0:07:52In fact, that's the crux of this whole deal, the sooner the boys make friends with the management company,
0:07:52 > 0:07:57the better, as there's the issue of that high maintenance charge.
0:07:57 > 0:08:00I can see you two are definitely prepared for a fight.
0:08:00 > 0:08:02Oh, I think we'd quite enjoy it, actually.
0:08:02 > 0:08:06It's fighting spirit and I like it. Unfortunately, I think they'll need it,
0:08:06 > 0:08:10because all of that will need sorting out before they can start
0:08:10 > 0:08:14the real job in hand, renovating the flat.
0:08:15 > 0:08:19What we're going to do is move the kitchen into that small room, galley kitchen,
0:08:19 > 0:08:23and then, next to that, we'll open it up, big living area
0:08:23 > 0:08:28next to that galley kitchen, with a door out from the living room.
0:08:28 > 0:08:31And then we've got these two big rooms at the front as bedrooms.
0:08:31 > 0:08:36- So how will you get into your garden?- From the living room. - You'll put a door out there?
0:08:36 > 0:08:38Patio doors into the garden.
0:08:38 > 0:08:41The big question I need to ask is, "What's your budget, guys?"
0:08:41 > 0:08:46Realistically, we would be looking to come in under 5,000 on this.
0:08:46 > 0:08:51- So about £4,000 you'd like...- Yeah. - Roughly yeah, give or take.
0:08:51 > 0:08:54- THEY LAUGH - Obviously, new boilers are quite expensive.
0:08:54 > 0:09:00- Yeah.- Yeah.- You see, I don't think you can do it for £4,000 to £5,000.
0:09:00 > 0:09:02- I'm a betting man. - I'll bet you a tenner!
0:09:02 > 0:09:07- Do you really think you can do it for four grand?- Yes, definitely.
0:09:07 > 0:09:11- Do you think you can turn it around in a month?- No.
0:09:11 > 0:09:16- Eight weeks.- So, eight weeks, £4,000 budget...- Yeah.- Yeah.
0:09:16 > 0:09:18- I'm going to be spying on you two.- OK.
0:09:18 > 0:09:21- Listen, good luck.- Thanks very much.- Can't wait to see it.
0:09:27 > 0:09:32Neil and Nick are great guys and good on them for doing all the work themselves,
0:09:32 > 0:09:36but I would advise them to take a good, hard look at their budget.
0:09:36 > 0:09:41For all their plans, £4,000 is extremely tight.
0:09:48 > 0:09:50This is New Malden,
0:09:50 > 0:09:53just a 25-minute train ride into central London.
0:09:53 > 0:09:56It's in the suburban commuter belt
0:09:56 > 0:09:59but still manages to retain a friendly village atmosphere.
0:09:59 > 0:10:04And with property about 20% cheaper than in nearby Kingston and Wimbledon,
0:10:04 > 0:10:06it's a prime investment spot.
0:10:08 > 0:10:12Well, this is Oregon Close, about a mile from the High Street.
0:10:12 > 0:10:14What I'm here to see is this.
0:10:14 > 0:10:17It's a two-bedroomed end terrace property,
0:10:17 > 0:10:19built around the 1980s.
0:10:19 > 0:10:21It doesn't look that inspiring from the outside.
0:10:21 > 0:10:24Let's take a look inside and see if it gets any better.
0:10:27 > 0:10:31You don't expect too many surprises with a property of this age.
0:10:31 > 0:10:35And, yes, fair enough, a reasonable first impression.
0:10:35 > 0:10:37A boarded-up window there.
0:10:37 > 0:10:40It's a reasonable sized space. It's a modern house.
0:10:40 > 0:10:42Even more so here in the kitchen.
0:10:42 > 0:10:44Interesting coloration on the walls!
0:10:44 > 0:10:47But not a bad-sized space.
0:10:47 > 0:10:51And things like these units, yeah, they could probably do with ripping out,
0:10:51 > 0:10:54or you could stick some drawer fronts on those.
0:10:54 > 0:10:57Pretty serviceable. If you were gonna rent this place out,
0:10:57 > 0:11:01a bit of paintwork, a bit of work in the kitchen,
0:11:01 > 0:11:03and you'd get this place up to scratch.
0:11:04 > 0:11:07Just off the kitchen is a tiny courtyard garden
0:11:07 > 0:11:10complete with a home-made wishing well in the corner.
0:11:10 > 0:11:13It's a bit dark, but removing that verandah
0:11:13 > 0:11:15would lighten it up beautifully.
0:11:17 > 0:11:21Well, it's all pretty standard stuff downstairs,
0:11:21 > 0:11:23and then you come up here.
0:11:23 > 0:11:27And it gets really, really weird.
0:11:27 > 0:11:30It starts here in the bathroom.
0:11:30 > 0:11:31How about this for a doorway?
0:11:31 > 0:11:36I mean, the size of the door you'd have to have on there, it'd be huge!
0:11:36 > 0:11:38Or maybe go for an open-plan bathroom.
0:11:38 > 0:11:43Somebody's gone to all the trouble of putting real stone around the window.
0:11:43 > 0:11:45Hmm. Nice aluminium loo seat!
0:11:45 > 0:11:46Lovely(!)
0:11:46 > 0:11:48And the bath itself...
0:11:51 > 0:11:55Looks like it's been attacked by a shark! But the best bit for me -
0:11:55 > 0:11:58look at this tap!
0:11:58 > 0:12:00Fantastic(!) Straight out of the garden, that is!
0:12:00 > 0:12:03A lion's head with a pipe out of its mouth!
0:12:04 > 0:12:05Wow!
0:12:05 > 0:12:06But it gets worse!
0:12:07 > 0:12:12Because this is the bedroom. Apart from this strange thing here...
0:12:13 > 0:12:16..what is going on there?!
0:12:16 > 0:12:18CHORAL SINGING
0:12:27 > 0:12:29Somebody must have spent a lot of money
0:12:29 > 0:12:32doing this to a very particular taste.
0:12:46 > 0:12:49Well, it just goes to show
0:12:49 > 0:12:53the strange things that go on in the suburban houses of Britain.
0:12:53 > 0:12:56I shall never look at a property like this in the same light again!
0:12:56 > 0:13:00Let's see what happens when it goes under the hammer.
0:13:01 > 0:13:06So this is lot 60, 10 Oregon Close, New Malden.
0:13:07 > 0:13:09Where do you wish to start?
0:13:12 > 0:13:15Yes. 150 on my right.
0:13:15 > 0:13:18Gotta take it here. 150. Are you bidding? 155.
0:13:18 > 0:13:19160.
0:13:19 > 0:13:22160. 165.
0:13:22 > 0:13:25170. 175. 180.
0:13:25 > 0:13:27185.
0:13:27 > 0:13:29186.
0:13:29 > 0:13:30187.
0:13:30 > 0:13:31188.
0:13:31 > 0:13:34190. 191.
0:13:34 > 0:13:36192.
0:13:36 > 0:13:38195. 196.
0:13:38 > 0:13:41197. 198.
0:13:41 > 0:13:43199.
0:13:44 > 0:13:46200. 201.
0:13:46 > 0:13:48Have a think. Don't lose it for 1,000.
0:13:48 > 0:13:51200,000 in the aisle. It's against you.
0:13:51 > 0:13:53£200,000.
0:13:53 > 0:13:56First time, second time, third and last...
0:13:56 > 0:13:58201. Nearly lost you.
0:13:58 > 0:14:01202. 203.
0:14:01 > 0:14:02204.
0:14:02 > 0:14:04205. 206.
0:14:04 > 0:14:06207.
0:14:06 > 0:14:07206.
0:14:07 > 0:14:08207?
0:14:08 > 0:14:11Back in? If not, 206.
0:14:11 > 0:14:15First time, second time, third and last time. Are you all done?
0:14:16 > 0:14:18Sold 206.
0:14:19 > 0:14:24The new owner of our design disaster is Robert.
0:14:24 > 0:14:27He's a former teacher who now runs his own IT training company
0:14:27 > 0:14:30as well as some buy-to-lets on the side.
0:14:30 > 0:14:33Now he plans to branch out into property developing.
0:14:33 > 0:14:35I met him with his son James
0:14:35 > 0:14:39to discuss their plans for this house of horror.
0:14:39 > 0:14:40Congratulations.
0:14:40 > 0:14:44- Thank you.- It's one of the weirdest houses I've ever been in!
0:14:44 > 0:14:47Well, yes. We didn't see it beforehand, so...
0:14:47 > 0:14:50- It's our saving grace. - I'm relieved you said that.
0:14:50 > 0:14:54Had you bought it because of what it was like, I'd think, "Interesting".
0:14:54 > 0:14:57- They are selling points, though. - Are they?!
0:14:57 > 0:15:02- You hadn't seen it before you bought it.- No, I wasn't even at the auction.
0:15:02 > 0:15:06I didn't expect him to buy a house that day.
0:15:06 > 0:15:12I just got a text message, "I've bought a house. Thought it was a good idea at the time."
0:15:12 > 0:15:15- And that was it?- Well, he's taken two years to buy a property
0:15:15 > 0:15:18and bought a property without looking at it!
0:15:20 > 0:15:21At an auction!
0:15:23 > 0:15:25It was a shock, to say the least, to be honest!
0:15:25 > 0:15:28So tell me about you two, then.
0:15:28 > 0:15:31Father, son. Eldest son of five.
0:15:33 > 0:15:36He's been looking at doing this sort of thing for some time.
0:15:36 > 0:15:40Did a year as an estate agent and really got into it.
0:15:40 > 0:15:44He's been pestering me and I suppose that's where it's come about.
0:15:44 > 0:15:47Pestering you like, "Dad, buy me a house"?
0:15:47 > 0:15:49Yes.
0:15:50 > 0:15:55I couldn't afford a house myself, so I had to rope somebody in and it happened to be him!
0:15:55 > 0:15:57- Is the idea to do it together? - Basically.
0:16:01 > 0:16:04Actually, James does have a very good eye for things
0:16:04 > 0:16:06and I think that's quite useful.
0:16:06 > 0:16:12So he's helping with shapes and colours and that'll help.
0:16:12 > 0:16:15Joking aside, it really isn't that bad.
0:16:15 > 0:16:16Buying it for 206 grand
0:16:16 > 0:16:19should give them a healthy profit margin.
0:16:19 > 0:16:22What's the overall plan?
0:16:22 > 0:16:25We thought we'd buy it, do it up, make it look nice,
0:16:25 > 0:16:28and take the profit and move on.
0:16:29 > 0:16:32Great. Do you have any idea how much this is all gonna cost?
0:16:32 > 0:16:34Uh...
0:16:36 > 0:16:38I think around 15, I reckon, at tops.
0:16:38 > 0:16:41That's good, isn't it?
0:16:41 > 0:16:44It looks like James has the whole thing planned out.
0:16:44 > 0:16:47But it'll be Dad paying the bills this time.
0:16:47 > 0:16:50James is obviously determined to get it right
0:16:50 > 0:16:53and Robert is more than happy to help.
0:16:53 > 0:16:57He's at university at the moment, but he has this as an interest
0:16:57 > 0:17:01and if he gets into it, then yes, it's worth carrying on.
0:17:01 > 0:17:04Because he's had this interest for some time.
0:17:04 > 0:17:06It is a focus and if he can carry on, that's great.
0:17:06 > 0:17:09If not, he'll move on to something else.
0:17:09 > 0:17:11It's a starting block.
0:17:11 > 0:17:12Yeah.
0:17:12 > 0:17:13Great.
0:17:13 > 0:17:20Are we going to see any of the interesting architectural and other features remaining
0:17:20 > 0:17:23when we return in three months - he says, hoping for the answer, no.
0:17:23 > 0:17:25Again, ask my style manager here!
0:17:26 > 0:17:29- What do you think? - No way! No way!
0:17:29 > 0:17:32- It's all gonna go? - It's all gonna be nice.
0:17:37 > 0:17:44So, how will our father and son team get on with this interesting little property?
0:17:44 > 0:17:46Find out later in the show!
0:17:49 > 0:17:52Time waits for nobody, that's for sure.
0:17:52 > 0:17:55So, have our buyers lived up to their promises?
0:17:55 > 0:17:57- Shall we find out?- Let's do that.
0:17:59 > 0:18:04Three months ago I made a little wager with physiotherapists Neil and Nick.
0:18:04 > 0:18:08They bought this ground-floor flat in Folkestone, Kent, for £86,000,
0:18:08 > 0:18:11with plans to renovate and sell it for a profit.
0:18:11 > 0:18:13I thought they were being a little too optimistic.
0:18:15 > 0:18:17I was ready to eat my words,
0:18:17 > 0:18:20but it looks like I needn't have worried.
0:18:29 > 0:18:32They haven't won this time, but I'm not one to gloat.
0:18:32 > 0:18:35I'm keen to find out what changes they've made.
0:18:35 > 0:18:39We had a bit of an odd-shaped layout to the flat.
0:18:39 > 0:18:43It's two-bedroom, one of the bedrooms was very small,
0:18:43 > 0:18:47it was here with a door, we had a wall coming across here
0:18:47 > 0:18:50and basically we'd be hard pressed to get a bed in there.
0:18:50 > 0:18:53So we thought, well, let's shift the kitchen,
0:18:53 > 0:18:57which was there, over here and then make this
0:18:57 > 0:19:03a large sort of kitchen, diner, lounge, living space with a little breakfast bar across here.
0:19:03 > 0:19:06We thought that made more sense.
0:19:06 > 0:19:10One of the main problems when we bought the flat, there was quite a lot of dampness.
0:19:10 > 0:19:13So the floors had to come up and the beams replaced.
0:19:13 > 0:19:17There was a damp-course injected into the walls where you see the holes
0:19:17 > 0:19:20and that had to take two to three weeks to dry out.
0:19:20 > 0:19:24Subsequently we had all the walls and ceilings re-plastered.
0:19:24 > 0:19:28# Bend me, shape me, any way you want me
0:19:28 > 0:19:31# As long as you love me, it's all right... #
0:19:31 > 0:19:34Just as they planned, they blocked off the back door in the bathroom
0:19:34 > 0:19:38and added a new door, which will lead off the new living room.
0:19:38 > 0:19:42Physios Nick and Neil have actually done quite a lot,
0:19:42 > 0:19:47especially considering they're doing this while managing full-time jobs and families.
0:19:47 > 0:19:52One of the biggest issues with this flat was the fire escape at the back, which they had to replace.
0:19:52 > 0:19:57But with quotes of £30,000 coming in, the boys were keen to look around.
0:19:57 > 0:19:59So have they got any further?
0:19:59 > 0:20:02No agreement's been reached about the fire escape yet,
0:20:02 > 0:20:08because that was obviously an outrageous quote to start with,
0:20:08 > 0:20:11so we've sort of gone back to the drawing board with that.
0:20:11 > 0:20:14And have they managed to solve those problems
0:20:14 > 0:20:18with the high maintenance charges for what seemed like no maintenance?
0:20:20 > 0:20:25We have now talked to the maintenance company and renegotiated maintenance fees,
0:20:25 > 0:20:27pointed out that some things haven't been undertaken,
0:20:27 > 0:20:30even though previous occupants paid for maintenance.
0:20:30 > 0:20:35We've come down quite hard on them and they know that we won't be rolled over as such.
0:20:35 > 0:20:38So things are getting sorted.
0:20:38 > 0:20:42They said they could do the renovations for £4,000 in just eight weeks.
0:20:42 > 0:20:47So, twelve weeks later, has the budget increased too?
0:20:47 > 0:20:53It has gone up a bit, but we've still kept it under 6,000, which we're quite happy with.
0:20:53 > 0:20:59Not bad at all, and largely due to them mucking in themselves. But how did they get on with that?
0:20:59 > 0:21:04All in all, we're keen to do it again and, if anything, it's made us stronger friends, really.
0:21:04 > 0:21:08Bet or no bet, they've done well considering the time they've had
0:21:08 > 0:21:12and the flat will be lovely when it's finished in a week or two.
0:21:12 > 0:21:15So, with a total spend of £92,000 to date,
0:21:15 > 0:21:19will their first development project be a success?
0:21:41 > 0:21:44If I put this property on the market today,
0:21:44 > 0:21:46you'd get somewhere in the region of £120,000.
0:21:46 > 0:21:50I would consider putting this property on the market for £130,000.
0:21:54 > 0:21:58If they sell, that's a profit of between 20,000 and 30,000,
0:21:58 > 0:22:01minus mortgage repayments for the last three months.
0:22:01 > 0:22:03That's pretty good considering they're not doing this full-time.
0:22:03 > 0:22:08It was quite nice to not have the one-to-one like we do with patients,
0:22:08 > 0:22:12day in, day out. And that's why we're probably keen to continue on and do a bit more.
0:22:12 > 0:22:15- You don't have to be clean to be a builder, do you?- Right.
0:22:15 > 0:22:19I'm sure many builders might disagree, but one thing's for sure,
0:22:19 > 0:22:23these physios have certainly cleaned up with this flat.
0:22:28 > 0:22:30Now, I've seen many properties over the years
0:22:30 > 0:22:35but none quite like this two-bedroomed house in New Malden, Surrey.
0:22:35 > 0:22:38From the outside, nothing peculiar.
0:22:38 > 0:22:42But inside, things were a little unusual.
0:22:42 > 0:22:46It was to be Robert and son James's first attempt at property developing
0:22:46 > 0:22:49and they picked an interesting one to start with.
0:22:49 > 0:22:53Two months later, I couldn't wait to find out how they'd got on.
0:22:56 > 0:22:58I think it's gone well.
0:22:58 > 0:23:02I think the good part is having some people, some builders,
0:23:02 > 0:23:06that were reliable and did the job as they said.
0:23:06 > 0:23:08That's a big thing.
0:23:08 > 0:23:10And broadly,
0:23:10 > 0:23:12it's been a straightforward job.
0:23:12 > 0:23:17As you can see for yourself, this strange property has been remodelled
0:23:17 > 0:23:19into something a lot more appealing.
0:23:27 > 0:23:30Turning this Gothic masterpiece into a family home
0:23:30 > 0:23:32has taken just two months.
0:23:32 > 0:23:35With only a couple of weeks until it's completely finished,
0:23:35 > 0:23:38there have been some major changes.
0:23:39 > 0:23:45Well, this is the main aspect that's changed dramatically.
0:23:45 > 0:23:49We've lost the wall. This used to be two rooms.
0:23:49 > 0:23:52We've made it one large reception room.
0:23:52 > 0:23:58We feel the open plan gives us a lot more space and more of a wow factor when you walk in.
0:23:58 > 0:24:01You don't walk into a hallway, you walk into the main living room.
0:24:01 > 0:24:05However, upstairs was going to take a little more consideration,
0:24:05 > 0:24:07especially that bathroom.
0:24:09 > 0:24:10A dramatic change.
0:24:10 > 0:24:13It was all smashed up before.
0:24:13 > 0:24:18We've changed the tiles. We've got some beige tiles now.
0:24:18 > 0:24:20With a nice dark black floor
0:24:20 > 0:24:23which we think looks really nice.
0:24:23 > 0:24:29We've got the new shower, which my dad here bought.
0:24:29 > 0:24:32I'm pleased to see that the lion's head tap
0:24:32 > 0:24:35has been moved to a more appropriate location.
0:24:35 > 0:24:37But what I really wanted to know
0:24:37 > 0:24:40was how they got rid of the stained glass.
0:24:40 > 0:24:42We replastered that
0:24:42 > 0:24:44and made it conventional.
0:24:44 > 0:24:48But she's still up there in the loft, if you care to go up there!
0:24:51 > 0:24:55I'd love to see the look on the face of the person who discovers
0:24:55 > 0:24:57the hidden Madonna in the ceiling.
0:24:57 > 0:24:59Just how much has it cost to put it all right?
0:25:01 > 0:25:05The original budget, I think we looked at a very minimum of ten.
0:25:05 > 0:25:09And a top end, hopefully, of twenty.
0:25:11 > 0:25:15In going through the figures I think at the moment
0:25:15 > 0:25:17we're between ten and fourteen.
0:25:17 > 0:25:20I'd say closer to fourteen, with bits and pieces.
0:25:20 > 0:25:23- So that's been good. - It's not been too bad.
0:25:24 > 0:25:28It was James who had the idea of going into property development.
0:25:28 > 0:25:33He saw the potential in the area after working as an estate agent round here.
0:25:33 > 0:25:37Remember, they bought it for 206,000 and spent 14,000,
0:25:37 > 0:25:40turning it into a good-sized two-bed home.
0:25:40 > 0:25:42But should they rent or sell?
0:25:42 > 0:25:45We asked two agents to give us their opinion
0:25:45 > 0:25:48on its potential for rental and sale.
0:25:59 > 0:26:01So what could they rent it out for?
0:26:04 > 0:26:08Two bedrooms in this area are going for about 1,050 at the moment.
0:26:08 > 0:26:10I'd put it on the market at that figure.
0:26:10 > 0:26:12Original thought was maybe 950.
0:26:12 > 0:26:15But to get 1,050 would be good.
0:26:15 > 0:26:17No surprises there, then.
0:26:17 > 0:26:22But could they sell this house for more than they've spent?
0:26:23 > 0:26:24In its current condition,
0:26:24 > 0:26:26we could put this on the market for about 250.
0:26:26 > 0:26:31If it were to be completed, I think we could market it at 265
0:26:31 > 0:26:36and certainly see what we could get between the 250 and 265.
0:26:36 > 0:26:39- That would be a great result. - That would be a great result.
0:26:39 > 0:26:42- I expected that.- Bearing in mind what we paid for it
0:26:42 > 0:26:47and what we've spent on it, it would be a good result.
0:26:49 > 0:26:53This is a very good start for this father and son team.
0:26:53 > 0:26:55They've taken a rather strange house,
0:26:55 > 0:26:58turned it into a great family home,
0:26:58 > 0:27:02and made themselves a pretty tidy profit into the bargain.
0:27:04 > 0:27:07We'll have lots more auction experiences for you next time.
0:27:07 > 0:27:10So we'll see you then for more Homes Under The Hammer.
0:27:10 > 0:27:11- Goodbye.- Goodbye.
0:27:17 > 0:27:20Subtitles by Red Bee Media Ltd
0:27:20 > 0:27:23E-mail subtitling@bbc.co.uk