I bought a house on Homes Under the Hammer – here’s what the BBC show doesn’t tell you about the property game

HOMES Under The Hammer is not always what it seems to be, according to one contributor.

The likes of Martin Roberts, Jacqui Joseph and Tommy Walsh are beloved by viewers for their work on the show.

BBC

Homes Under The Hammer is a mainstay on BBC daytime schedules[/caption]

BBC

Martel Maxwell met experienced property developer Jordan Robb[/caption]

In one of the editions that was broadcast in May, presenter Martel Maxwell took the show to Dumfermline.

This is where she met developer Jordan Robb, who impressed fans of the long-running property show with his extensive experience in the business.

He made his first investment at the tender age of just 19-years-old, and he’s now spilling the secrets of the trade.

But the contributor admitted the process in the market is nowhere near as easy as the BBC show made it out to be.

He admitted: “Everybody thinks it is a really easy process and it’s really not.

“Some people think they’ll just get one or two properties and even I have friends at the moment and that’s what they tried to do.

“They’ve been looking at it for the last eight months and it’s still not worked because everything you’re looking at just doesn’t stack up.”

He added to The Express: “You’ve got to look at any particular renovations and you look at what the rental costs.

“A lot of people think if you get into property then you’ll sit back and make money but it’s not like that.”

On the show, he transformed a previously ‘uninhabitable’ house where the guide price sat at only £5,000 to an unrecognisable state.

The property had no kitchen, the plaster-work was completely crumbling, and parts of the ceiling appeared to be absent.

Although he bought it for £52,000, the value of the property was revealed to sit at £85k – £95k after his renovation.

On Homes Under The Hammer, he also admitted that he already had a tenant in place as he sought to rent out the property.

However, he opened up about more of the business factors that aren’t shown on the BBC One show.

By the end of it you’re not really left with a great deal

Property developer Jordan Robb

The TV contributor admitted that people often do not consider the supplementary costs that come with rental properties.

“What they don’t realise is right away your mortgage is maybe a few hundred pounds.

“Then you’ve got all your running costs. Things people don’t think about is you’ve got your insurance on the property and other expenses.

“You’ve then obviously got your margin for all your repairs and maintenance, you’ve got to find tenants who will pay, you’ve got vacancies in between tenancies and stuff like that.

“So there’s all these things that they need to consider, that £650 comes down to £250 before you know it. Then if you have a couple of repairs on that property by the end of it you’re not really left with a great deal.”

BBC

The presenter took the show to Dumfermline[/caption]

BBC

The property developer increased the value of the property tenfold[/caption]

BBC

He admits that often people don’t think of the other costs associated with renting that are not shown on the programme[/caption]