Climbing The Property Ladder (C5)

[marcusgrant]

The price of that tiny flat in london is mental. (selling/sold for about 340 said at the end)

That flat here would have cost at most 100k (Northampton), now if I went to london to do my job, I wouldn't get paid 3.5x what I do here.

[Mojooo]

The lady Rupa who rented out her house could still make a massive profit though - she was on course for something like 77k - even if she only made 50k she would be doing really well.

Considering that most of these jobs were taking a few months and assuming they don't make more doing their day jobs it seems that there is potential for a lot of money to be made.

But having renovated my own property I don't think I could handle the stress.

That said, if you did a few and had good trades and did them all the same (i.e same bathroom supplier etc) each time then it could go smoother,

[monthefish]

marcusgrant said:

The price of that tiny flat in london is mental. (selling/sold for about 340 said at the end)

That flat here would have cost at most 100k (Northampton), now if I went to london to do my job, I wouldn't get paid 3.5x what I do here.

I had to laugh at the other agent - "you'll get £450k easy".
Flat goes on the market at £360k and fails to sell in 6 months.

[nicanary]

monthefish said:

marcusgrant said:

The price of that tiny flat in london is mental. (selling/sold for about 340 said at the end)

That flat here would have cost at most 100k (Northampton), now if I went to london to do my job, I wouldn't get paid 3.5x what I do here.

I had to laugh at the other agent - "you'll get £450k easy".
Flat goes on the market at £360k and fails to sell in 6 months.

That's (no qualifications needed) estate agents for you. Don't we just love 'em?

[kev1974]

mark seeker said:

I only started watching last week so I may have missed how they determine 'profit', but it feels like they fail to account for:

- Stamp duty
- Financing costs
- EA fees
- Legal fees

Last night numbers seemed hugely inflated?

And Capital Gains / Income Tax surely? Or am I missing something.

[Laurel Green]

The chap waiting for PP in tonight's episode can earn some money on-the-side by selling the weed.

[nicanary]

Pity - I think we saw the "joke" participants in the earlier episodes. Tonight's seem reasonably sensible. The guy with the flats conversion has done it all before, and the girl has got a builder dad. She does seem a bit lackadaisical about it all, though.

[Laurel Green]

Nice to see hard hats and toe protectors being used.

[nicanary]

Laurel Green said:

Nice to see hard hats and toe protectors being used.

I wonder if anyone from the local Elf n Safety are watching?

Loved the Welsh girl's dad taking down the old lintel and slates before he'd put up the Acrow.

[bazza white]

I don't know why that bloke bothered bringing in an estate agent for an opinion

[Laurel Green]

bazza white said:

I don't know why that bloke bothered bringing in an estate agent for an opinion

Possibly asked for by the programme makers?

In reality, easy enough to look on the internet to form a view of prices in the area.

[Laurel Green]

Looks like some underpinning needed in the first property - wonder if that is in the projected spend?

[nicanary]

I hope that Bryony eventually took off the protective coating on that PVC back door. It was making my teeth itch.

[kev1974]

I hope the two soldier boys have at least taken some professional advice on how to structure whatever investment deal they'd offered to their friends/family/ex-colleagues, ready for when HMRC come for their pound of flesh ...

[Laurel Green]

nicanary said:

I hope that Bryony eventually took off the protective coating on that PVC back door. It was making my teeth itch.

Annoying, isn't it.

Also annoying, electrician/builder not leaving temporary lighting for her.

[TTmonkey]

Bryony was a remarkable young lady. Has a plan, is achieving it.

[nicanary]

TTmonkey said:

Bryony was a remarkable young lady. Has a plan, is achieving it.

Agreed. She didn't whine and moan about having to sleep amongst rubble and dust. I didn't really understand why she didn't just live with her parents during renovation, but fair does. I didn't have that much ambition at her age.

[paulwirral]

nicanary said:

Agreed. She didn't whine and moan about having to sleep amongst rubble and dust. I didn't really understand why she didn't just live with her parents during renovation, but fair does. I didn't have that much ambition at her age.

I thought it odd that there was no mention of her parents helping her as they usually do , her sister seemed game enough though . Maybe they've just been brought up with a good work ethic . Sparky was useless by comparison , builders not much better , I'd have least made sure the portable lights were left out and ready to plug in with a note saying so .

[mark seeker]

I did think Bryony did a great job, quite how she managed to live through I really don't know. Respect to her for it though, good to see people that are driven.

The soldier lads, well I wouldn't be able to sleep at night having to find £7k a month on repayments for unsold / unrented houses.

[nicanary]

My TV schedule didn't show it, but my series link recorded one last night. It was a new episode.

Max "never mind improvements, look at this wallpaper" was at it again. He ripped out an old sink without turning off the mains supply. Mind you, he bought a £20k kitchen on e-bay for £1500 and it more or less fitted.

Young lad from Hereford is optimistic. Flat in Grade 2 listed building that had been on the market for 10 years without selling. Four flights of stairs up, and no parking. Limited market, I would think.

PS I'll have to swallow my pride. It sold for the asking price within 5 days.

Edited by nicanary on Thursday 16th March 11:38

PPS It was scheduled for 03.10am. As you do.....

Edited by nicanary on Thursday 16th March 12:51