HOW TO ANALYSE AN AUCTION PROPERTY DEAL TO MAKE MONEY

[@bkm2797]

Have to say that property was so horrific and sad, it looked like it needed to be completely gutted and stripped down to the original bones, which probably needed replacement as well. So relieved your offer was too low. Unless that is an up and coming area, or as you inferred, maybe the buyer is in the construction business it seems like a total loss except for the land. So proud of you two, really impressed with how much you have learned, and your willingness to share the journey. Great job, can't wait to see what's next.

[@PropertyCouple]

Thank you for watching, we appreciate it.

[@JohnandCaraRetiredTravellers]

Wow! Heart breaking the tenants must be struggling emotionally. Looked like they had a mini farm living with them. So happy you didn’t get the property…the neighbors will be relieved once it’s renovated. Loving the channel guys! ~Cara 😊

[@PropertyCouple]

Thanks for watching!

[@janetraona9071]

Y’all have learned so much about property ownership/management etc. you’ve retained so much knowledge and you can hear the confidence you both have. You both have a genuine passion and it’s so refreshing to see. You have learned and will learn more about the property as you see paperwork filed and remodeling done. Would be fun to see it after the new owner(s) have completed the refurbishing.

[@orielwiggins2225]

Yes, would love to see it or at least hear if you guys track it when it gets done. Like do the buyers end up doing a single family slightly lower end refurb and then long or short term rental that would help them recoup the losses?

[@PropertyCouple]

You are very kind! Thank you

[@orielwiggins2225]

Oh my goodness! I felt sick just looking at that by the end, especially for the folks and animals who were living there. Thank you so much for taking us thru this one too. As much as I have learned about water damage and the hazards of mold, I'm so glad you didn't buy that. This was super informative and pleasant way to learn, and I love hearing all the thoughts and ideas and reasons behind everything. Of course it makes me want to raise my hand like a student with way too many questions. You both are so engaging and inspiring on this channel, I only wish I was in a place to invest and work with you on a project.

[@PropertyCouple]

Ach usually feels rubbish after a house visit like this. He has asthma and is fairly sensitive to breathing in all the mould and damp.

[@orielwiggins2225]

@@PropertyCouple 😖😢😷 I can relate!! It's awful.

[@brookec.b.3611]

Wow, I'm shocked there were people living there not all that long ago... Really great video, you two. Thanks for another look behind the curtain!

[@PropertyCouple]

Thanks for watching! Appreciate it.

[@opentrail]

Good high level video. What does your solicitor charge for looking at the legal pack? Did the legal fees include the auction cost usually 5% or 5,000-6,000 minimum which I think is really high and usually need to pay the sellers costs? I've bought water damaged properties before and you usually need to involve a structural engineer maybe even building control. Worth having a discussion with the council whether they believe it to be a habitable property and could you qualify for council tax exemption whilst its being refurbed? Some social housing I've seen is worse than this was! You have to look through the mess as once its cleared, leaks fixed and the plaster knocked off it will look completely different. Opportunity to add internal wood fibre board as breathable insulation making it warm and cosy.

[@PropertyCouple]

Your's can't be anywhere near that surely!

[@crinkle2649]

And yes you would have to do all of the work to make any money back on that house.

[@bethmeredith]

Very practical advice. I'm learning so much watching these videos. Thanks for sharing.

[@PropertyCouple]

Glad to hear it!

[@targetedplantsguy9481]

I get irritated when I'm asked? Why rent is so high. This home is what my homes look like minus the water damage when most people move out. As a landlord it's been my observation that a lot of people are just extremely nasty. I must recover my costs of each remodel and that cost gets past the next renter. If you want rent to go down judge your friends that are trashy and nasty tell them to clean up their house.

[@PropertyCouple]

Why is the cost of everything so high at the moment? It's a pretty in depth answer.....

[@1024sofia]

u guys r such an attractive couple, just binge watched your content and have learnt a lot. Also, congrats on the recent marriage!!

[@PropertyCouple]

Thank you so much!!

[@gatekeeperboxing5898]

I think the state of the property would have put me off even before crunching any numbers. Frankly I am very wary of any auction properties that show no pictures of the interior on the ads, to me it clearly signals that the property is going to be in very poor condition inside.

[@crinkle2649]

On the show they also had after a death cleaners, the guys that clean that big glass egg shaped building

[@dougchinn2820]

Good luck to the buyer of the property. If they're buying to own, that's one thing. As an investor, the "unseen" problems from water damage can be devastating to the profit calculation. Damage to the beams and floor joists from water damage, i.e., "bad bones". Mold and mildew abatement. Not something you'd want to deal with. My offer would have been closer to half what it sold for. Well done guys. Can definitely see you're masters at evaluating the viability of properties and rehab costs. I'm thrilled for your success.

[@PropertyCouple]

Appreciate it Doug, just trying to get better as we go along!

[@gatekeeperboxing5898]

I think it would have taken me under a minute to be put off even considering an offer on it.

[@futraveller5498]

Can you make a video with the makeover from the houses you bought ?? I would like to see all the befores and afters...

[@PropertyCouple]

We have those….

[@markwarner2529]

Great video. My question would you buy a Grade 2 Listed Building 2 Bed Terrace House at Auction. Note: Due to the poor iternal condition of the property viewings will not be conducted. Thanks Mark

[@PropertyCouple]

It’s hard to answer without all the information. If I had a choice over listed and non listed and the numbers were similar then I’d probably avoid myself the hassle and go for non listed. But there are so many factors to consider and understand that I couldn’t give you a meaningful answer.

[@juliebrooke6099]

The price paid could work out for someone who intends doing most of the work themselves or for someone who intends living there as soon as it’s habitable. You were right not to go above your set price as it definitely wouldn’t have been viable.

[@PropertyCouple]

Exactly

[@coolmonkey619]

how did you get your start

[@denisescally7090]

Birmingham is starting to review HMOs. Streets and neighbourhoods are having problems with them. I expect restrictions will increase in the near future. Do you take impact on neighbourhoods into account? Maybe a vid on that?

[@PropertyCouple]

Did you see the video where the neighbours kept taking our garden furniture because they felt the construction noise was annoying them?

[@beaatpeace2490]

Omgosh. Noooo way. You guys have stronger stomachs than I, lol. That place was gross but also really sad. Well done breaking down all the financial considerations.

[@PropertyCouple]

Thank you!

[@michaelmullard4292]

How disgusting. Well done passing it by!

[@PropertyCouple]

Thanks Michael!

[@justice4whales]

Who can live like that? By the way, Lia, and Ash, its me Catherine. Hope you are both doing well.

[@CathyMiller0711]

I mightve missed it if you've used it in past videos, but nice new set up, great audio. (I'm not very observant about such things.) Interesting.

[@PropertyCouple]

Thanks!

[@junecorriette6651]

What if you only have 100k can you do a video about buying houses on a restrictive budget

[@samsungdisc52x]

Wellsaid. Please advise me good solicitors , good brokerage personand good bridging loan ppl based on your experience. Really appreciated

[@oloidiadedayo1278]

Thank u guys

[@LurkerSmurf]

Are there hoarding shows in the UK? You see a lot of houses like this. It's a form of mental illness. So sad to see a perfectly good property fall into such disrepair. Wondering if the local zoning allows taller homes and they can make back their money with a 3-story, 4 bedroom?

[@PropertyCouple]

There are, its super interesting right! I doubt adding more floors would work in terms of cost to return ratio.

[@chrisall57]

Very glad you walked away from that house. It looks like a real money pit!😅

[@PropertyCouple]

It was!

[@joannunemaker6332]

Wow! Glad you both didn't want this property. Too much complications.😊❤

[@paulguise698]

and it was a sest pit

[@PropertyCouple]

Tell us about it!

[@ddkeech1]

Very informative video🥰🥰🥰

[@PropertyCouple]

Glad you liked it, thank you!

[@MARKB3946]

How sad for whoever lived in that property. It looks like they left without taking much with them. Hopefully you will be able to see it again during its renovation process and maybe talk to them to see what all hidden nightmares they have discovered. I know y'all will find something more suitable.

[@PropertyCouple]

It is sad to be honest. You get a little glimpse into someone else's world for a brief moment.

[@Stacyr4567]

I'd think the neighbors would have complained about the exterior not being cared for and then having neighbor, family or friend intervening regarding the lack of cleanliness, home damage, possible infestations and assuming lack of personal care.

[@PropertyCouple]

Maybe they did....

[@ShopLumeLight]

Sorry I don’t understand, you said you’d offer £75,000 for a £185,000 done up value? Wouldn’t that leave you with barely anything after you refurb it?

[@PropertyCouple]

What’s your definition of barely anything?

[@ShopLumeLight]

@@PropertyCouple as in is it not worth the hassle to go through it? Is it a lucrative deal for you?

[@kevinwooldridge2127]

loving your content. I don't want to sound like a nanny state type, I'm really not, but you guys really need to get some proper masks because the mould spores from the damp and faeces are really harmful and can cause long term damage.

[@PropertyCouple]

Yes you’re right I’m susceptible to it as I’m asthmatic - AK

[@MiltonGoinsHome]

That was hard to even watch! I had to look away a few times.

[@PropertyCouple]

Sorry!

[@bobsmith3378]

to be honest there was little to no chance of getting that property for 75k even in that state, ive seen worse and theres usually always a bidder trigger happy and bidding more

[@PropertyCouple]

Most of the time yes.

[@junecorriette6651]

Where was it based

[@Gargamel-n-Rudmilla]

Priority for me at inspection is not to do this myself, get a surveyor 😊. Would u do an MOT yourself , nope, so get a surveyor to MOT the house. If u are business this is a cost of doing business. If u r a hobbiest then this is not about making money but about having fun. I suggest u find a less riskier and costly hobby.

[@mikeh720]

Please tell me you burned those shoes and never wore them in your own home! You really need to get the crime scene slipovers for walking through a place like that! Yuck.

[@PropertyCouple]

We should have!

[@maureenboyle1926]

Hello everyone

[@PropertyCouple]

Hi there.

[@mycrownmelanin5966]

Would you not factor in how much profit you would want to make when making a budget

[@KatieScoot11]

Wow…I’m speechless! 😮 I seriously have no words. It’s sad that people either have to or chose to live in such conditions. Quite frankly I think it was a blessing that you didn’t get this property. Looks like there could be some expensive surprises that could have shown up. The neighborhood looked nice and the other back gardens looked very well kept. I seriously don’t know how you stayed in there long enough to film. 🤢🤮 Onward and upward! Next 🫲🏻

[@PropertyCouple]

Horrific isn't it, but there is something gripping about going round and seeing if it is is is not a deal.

[@marieneu264]

2:20 yikes! How could anybody live like that???

[@PropertyCouple]

It happens more than we know probably.

[@1ForTheShieldz]

Lack of money to refurb. It will be an old person probably.

[@howareyou857]

All sorts of reasons, hoarding, age mental health, impoverished

[@antoniaperez7850]

Glad you didn’t buy. My emotion offer is NO due to puking with all the filth.

[@PropertyCouple]

We were trying to see what number it would work at.

[@donniebrooks21]

I don’t feel so bad about how clean my house is. That was so nasty and the extreme definition of a fixer upper. I feel so whoever was living there earlier and may have been your best friend from Grimsby, Michael. 😅😅

[@PropertyCouple]

Yours can't be that bad Donnie!

[@DeanW-1990]

I like how he says I’ll get back to you personally like he’s something special 🤣🤣 cringe asf

[@paulguise698]

Hiya A.K and Lia, I wouldn't give you 50 pence and a snake belt for that property, dear oh dear, I'm glad you never bought it, what a shocker, say A.K, you would think a load of skip rats lived in this house, that's all I have to say about it, this is Choppy in Whitehaven, Cumbria, England

[@PropertyCouple]

I'll take your offer of 50 pence and a snake belt Choppy......

[@paulguise698]

@@PropertyCoupleI hope the snake dosent bite, its good you show us the flea pit properties aswel as the nice ones, you never know what your going to get, here's a tip for you the more Northern you go the cheaper the house prices, you should come up to Carlisle race course they have house auctions now and again, and see what you can find, this is Choppy in Whitehaven, Cumbria, England 😀

[@fanco561]

Oh my dear. So disgusting.