imlach

Yes - a right pair of Glaswegian queenies.......
Very childish & excitable when finding out the offers......only saw the last 10 minutes as well.

WTF was going on with the estate agent? He comes into the house AFTER it is done up but before it is "lifestyled" and valued it at £129k, then comes in after they've added a wee bit of furniture, and valued it at £140k.

Errr.....that strikes me that the estate agent is stoopid. He should be able to see through the furniture to the basic value of the house. Furniture should add no value to the house sale surely.....as it is not part of the sale.

I reckon they'll be struggling to get to £1m, although no doubt the researchers are hunting night and day for cheap properties with potential - ie, not really REAL WORLD.....so wouldn't surprise me if they find somewhere at the £200k mark that they manage to flog for £400k.




[Edited by imlach - 11/6/2003 12:02:38 AM]

unclebuck

Not off to a good start really, is it.

I was hoping that this was going to be a really informative and interesting series, but so far it's all about some 'rather happy' scotts who seem more intent on massaging their egos on prime time TV than giving useful advice.

"Aye, we're a pair of designers dontcha know..."

Hmmm.... how interesting...not.

UB

dsmith

you do wonder exactly how many "researchers" should be paid from their profits

Deano

Luke

Whay are these programmes always having raving batty boys as guests or presenters...... Do you have to be a puff???

supertouring

I found the fake friction between the "boys" and the developer to be a little predictable - wife swap style!

Funniest bit was when developer rang electrition because he had not turned up, told him not to come back. Electriction just laughed at him.

Oh, and "mum, just sold for 140,000, and I wanted to let you know first!" - Priceless!

davegtt

no its just that there aint many straight "interior designers"

they are only gonna do up 7 properties and they have so far made what about 25k profit, no way will they get 1million.

and as for that estate agent. probably came back 1 week later and thats the way house prices are rising at the minute...lol

ChristianR

iTrader: (1)

The developer seems to know what he is on about, and fair play telling the cowboys not to come back. I would have done exactly the same thing.

Not 100% keen on the two gays, they are too over the top in my eyes. But I am sure I will be watching future episodes if nothing else is on!

wiltshire_boy

No one here reads the Telegraph on a Saturday then? (good motoring section).

There was an article on this experiment. Apparently it was started a couple of years ago and as of last week they were yet to find a buyer for a property. So they could be handing over a builders helmet ( ) instead of a cheque on children in need day.

unclebuck

I thought the 'cowboy tradesmen' were actors. The whole thing is phoney IMO. Disappointing.

UB

Andrew Dixon

It seemed that they managed to find a buyer for last night's property.

Seems a bit daft though as the whole premise of the show was that they started with just £100,000 to spend. Straight away they bought a house at £103,000 and proceeded to spend around £15,000 doing it up?! Wish I could have magiced £18,000 out of nowhere when I bought my house!

Surely they should have been starting with a house at around £80,000? Looks like they've already leaped that first rung or two of the ladder!

I found it interesting in the same way I'd enjoy a sitcom .. but as for its similarity to the real world ... please!

A

Andrew Dixon

Clicky for Telegraph article.

STi VII

Most people starting out would of done the bulk of the graft themselves. I could not beleive it when they had painters and decorators in! They must of lost £10K on the first house by employing tradesmen. Also it's not exactly hard to increase profit in a rising market so in reality they did not do very well on the first house.
Did anyone else get fed up with the fake talking to a non exsistant third party when they went over what they was going to do to the houses which involved manipulating perspective and their so called 'skill' of staging a room with a desirable lifestyle. Those stupid camera angles they used which I can only imagine was someone trying to make it look all arty and fly on the wall documentary style.

mattstant

Ha HA HA !!!!!!
Atlast reality bites this week
Loved the comment from the REAL developer.

"theres a technical term for people who think its easy making money from property its called Bull****."

or words to that effect

Those two Scottish numpties havent got a clue if they had listened to the developer at the beginning they would have cleared about 30,000 profit in much less time instead of 10,000 in about 3 months

An expensively converted flat in a **** area is worth no more than its surrounding properties.

NACRO

quote: "theres a technical term for people who think its easy making money from property its called Bull****."

I can't really agree with that, I think its very easy to make pots of cash from the property market, you just buy at the right time, rent the place out,wait a few yrs and hey presto a hovel you bought for 20K is worth 70K, jobs a good un. Just waiting for the next price realignment now and I'll repeat all over again.

MartinM

I really don't undestand what "the experiment" is

The impression given is that they turn £100K cash into a million pound property in 7 moves.

I can't remember the exact numbers, but they bought for 103 last week, spent about 15 and sold for 123.

Last night they bought at 140, spent 65 and sold for 215

They just seem to be taking arbitrary jumps up the ladder - pretty pointless IMHO

I will still watch it, 'cos I'm interested in the building side, but I know I can go make a cup of tea when the 'designer bits' are on

Tiggs

i must miss the point of a lot of these shows. why not buy a nice house and get a job as a decorator for someone else! then you dont live in a dump, get paid and your house still goes up anyway!

T

davegtt

right the misses dont understand what I was saying last night so am I being thick or what.

From last weeks property they made approx what 15k? then this week they went out and spent all that money on another house at appox same price they sold the last1 and spent antoher fortune and after soliciting costs etc they only made a shave over 10k yes??? so overall they have made what 25k profit yet they are on a £210k building for the next episode.

where Im going wit this is the next house for 210k, wheres the other 85k come from. byt he time they have got to a million pound property I calculate they might as well have had an £800k morgage and have made 200k if they are lucky to begin with. do u see where Im coming from? I cant see the point in it, the womans trying to tell me its about getting a million pound property not making 1million pounds. either way, they are only gonna end up with what officially should be a stupid high morgage which they could have just done in the first place.

Does that make sence?

davegtt

Martin M, you seem to have just said what Im trying to say, where they are now they have basically spent about 190k of their own money to get a property of £215k so in reality they aint getting from £100k upto £1m by doing up houses.... theyre just spending their own money so they might as well start of buying a big house...

mattstant

.

But thats NOT Development thats investment driven at the moment by high rents and low mortgage rates.
mortgage rates are on the up and the rental market is getting saturated so easy money is not going to be available for much longer.
just wait till no one wants to rent youre hovel because there are better to rent cheaper elsewhere

They are supposed to be trying to spot properties in need of renovation and reselling on very little capital this requires a quick turn over someting the two scottish tosers dont seem to understand.

I have been in this business 20 yrs and saw the best and worst of the late 80's early 90's and sure we did well for a few years but struggled for a good 5 years after and what did we survive on ?? yes the profits of those good years.

imlach

My wife spotted last night that there is a serious continuity problem in this programme.

The tall one goes from blonde hair to dark hair at certain points. Given from buying last night to selling, it took them 6 months+, it would take more than 2 years to do what they are doing.

I suspect, given the hair colour changes, that they are buying and selling not consecutively, but concurrently.

Makes another *** of the program.

NACRO

quote: "just wait till no one wants to rent youre hovel because there are better to rent cheaper elsewhere"

I've sold them all at the height of their value I reckon-they prices have come down by 5% already since I disposed of them. Another 30% and I'll buy some more. As for not developing them I spent around 3K each on materials making them habitable and did all the work myself. If that isn't property development I don't know what is.
If it is so easy to do what I did, I'd like to know why more people didn't do it, then they could be looking at retirement before they are 30 like I am. It's called vision and having the ***** to put your money, or better yet someone else's money where your mouth is


[Edited by NACRO - 11/13/2003 2:09:30 PM]

Scooby96

NACRO - any chance I could email you for some advice?

unclebuck

You you've 'retired' on a mere 50K at 30. That won't last you long

mattstant

Fair enough Nacro You have spent money and time on renovation work and sold on At the top of the market (not what you mentioned in your first post).
you have obviously had to do a fair bit of graft though which is where the average punter will fall down.

The problem is that most of the average punters dont appreciate the hours you have to put in the lost weekends etc the nagging fear when your mortgage payment suddenly triples over night(this has happened to me).

I had a seven bed student house which had to be practically stripped and redecorated every summer it was doing very well but i hardly ever got to see the wife at the weekends and sold it in the end (for a nice tidy profit naturally).

I handle projects from 10,000 to millions and they all have Pitfalls for the unwary like a development project we luckily backed out of that our solicitor had missed a covenant stating we couldnt build where we wanted to despite approval from the local authority.

building a large blocks of flats in a conseration area with plastic instead of wood and having to replace them ALL with wood springs to mind this happened recently to a very experienced developer i know.

I could go on all afternoon but ive got to get back to my **** easy job

Scooby96

"mortgage payment suddenly triples over night(this has happened to me)"

erm, but how could this happen, or at the very least how could you put yourself in at risk of this kind of eventuality?

[Edited by Scooby96 - 11/13/2003 2:49:12 PM]

mattstant

ok extreme example and temporary but i think every one should remember when interest rates leapt to 18% in the early 90s

unclebuck

But that could *never* happen again.... could it

NACRO

quote: "You you've 'retired' on a mere 50K at 30. That won't last you long"

I didn't just have one UB, I've disposed of quite a few over the past year, the major pain in the *** was paying the CGT.

NACRO

scooby96 YHM.

unclebuck

Ok, I'm on my second ATM, but I try to have as my main address when I sell to avoid CGT.