BBC's Homes Under the Hammer often shows how developers can turn nothing into something and this week was no different.
A plumber and property developer revealed how he will take home more than £7,000 a year after buying a damp-riddled flat at auction. Before tax.
The three-bedroom property was in quite a state initially but this didn't put Mo off.
Set across two floors, it featured on yesterday's instalment of the hit property show and with a guide price of just £14,000.
The flat was situated on the top floor of a traditional sandstone house in Paisley, near Glasgow, and had significant issues.
Just watching Homes Under The Hammer on @BBCOne Flats are REALLY REALLY expensive in Scotland pic.twitter.com/7MmJkqeqW6
— 𝔾𝔼𝕆🏴🏴🏴 (@geo_geo_geo1971) February 7, 2024
Host Martell Maxwell gave viewers a tour of the home, which was riddled with damp, bubbling walls, and exposed brickwork. The flat was also quite dated.
Plumber Mo, from Watford, had the winning bid on the flat - buying it for £38,500. He said he had to gut the entire home, stripping everything back to the wall.
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The dampness was found to be caused by a missing roof tile that was letting water in, and once this was fixed Mo also installed an en-suite in the upstairs bedroom, and a utility room and modernised the home throughout.
Mo said he had spent just under £30,000 on the property, which was then valued by a local estate agent - who said it would likely now sell for around £75,000.
However, Mo looked a little dishearted when the estate agent added it would likely get around £600 per month in rent.
This guaranteed more than £7,000 in pre-tax income, Mo said: "That's a bit on the low side but it's all about the yield for me, and it's got a good yield".
After watching the episode, one viewer commented: "Just watching Homes Under The Hammer on @BBCOne Flats are REALLY REALLY expensive in Scotland".
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