I Wish They Had This Show In The US
Okay so this is a little off topic but I think it is fun and relevant to most of the folks here, at least those interested in buying investment props and making money off them! 
(okay, um, does that mean everybody?!?!)
I am just back from a vacation in London. While there, I enjoyed a fabulous show on BBC1 called "Homes under the Hammer." It is a reality show (my god they have more over there even than in the US.) They highlight 3 properties that are going up for auction per show, and follow the props from their pre-auction evaluation & appraisal all the way through the bidding and then on to the winning bidder's (i.e. investor's) post-auction strategies, and through their remodel efforts and eventual re-appraisal. Fascinating! ("Hey, did this guy make money or what!" or "What a waste of time and money for such a small return."
Nice to play armchair quarterback with TV shows...
As a budding RE investor, I found it incredibly interesting to watch the whole process - and hear the commentary from the "estate agents" and the auction appraisers interspersed with the goofy hosts commentary. "Here is a flat on the top floor of an urban street in Manchester, it is appealing for X and Y reasons, but oh my, look here there is a leak in the ceiling. That will easily be a ten thousand pound fix, adding to the renovation costs for Bob Investor."
But the coolest thing is that it really makes you think like an investor - they show the pros and cons of each property, what could be done to increase value or otherwise provide a return for an investor, what the auction price "should" be, what the local market is like, they have interviews with local agents and community reps, and more. They even talk about what the going market rents are in the area. As added "meat," they have extensive 1:1 meetings with the owners to go over what their strategies are for the prop and discuss their long term goals - "Okay, so you are going to let the property once you have built in this second bedroom..." and the investor gets to comment on why he/she has made the choice they have and why they bought the prop.
An especially interesting segment was when an older couple, about 50, bought a prop at auction for what seemed like a good price. They had never bought at auction before, and had never seen the place (apparently you can only bid on the descrip provided in the auctioneer's book?) so sadly, they were a bit disappointed when they saw the place in person. But they slogged on and ended up turning it into a cute little flat where they ended up moving in. And they *did* increase the value, good for them!
Anyways, I tried to find more info on the show on the BBC1 web site, but to no avail. I just wanted to share this fun, informative, and interesting show with my fellow RE investors! And oh how I wish we didn't have to deal with reality crap like "The Shortest Groom" or whatever that was... when there is great stuff like this to be had! Ohhh, America... 
Cheers to you all!
That show sounds brilliant!
TLC picks up many BBC shows and coverts them to US programming (think Trading Spaces, US version of Changing Rooms) You should suggest something on their webiste about this. Sounds like a great show.
I read that it is on its way over here as we speak.
I will keep my eyes open for that one. Sounds interesting.
Kelly
Ooh, I do hope it is on its way over a' la Changing Rooms/Trading Spaces. It's a great show. Maybe we will see one of our "All Star Investors" on there someday. I would love to see Lucius/Lufos weave his tale of planting container homes on the lot he just won at auction to a giddy TV host
Why not have Lucius/Lufos host the show. Since he is probably one of the most knowledgeable REI/Constructors on this or any other board. But when reading his post you can feel his wisdom! He served in the RAF during WWII. Besides he already lives in Hollywood,Ca. We could then watch him spin his tales weekly.
Other then "The Gang Show" and "ITMA"
I found the early BBC presentations suitable for a slumber party. For the thrill of classic Middle Brit Humor you should snore thru "Birds of Common Class"
But for real sport try buying properties in England. Especialy in Kent and other lovely but stuffy places.
I still own a house in Saffron Walden which I bought one night while riding my bike home from a pub. I chanced by a friends house who was leaving for the Middle East and his life expectations were rather low at the time. So I bought his Elizabethan thatched roof cottage. We closed with a Soliciter that looked like
an escapee from a Dickens type novel. I recorded a deed, got an opinion on title from the good Soliciter and moved in. The Inland Revenue their IRS, dropped by the airfield near by where I worked as a Fighter Pilot and collected 3 lb 10 sh.and the title was complete.
Now I had a place to come home to after a hard day of being shot at by angry Germans. It was peaceful and far from the war. Just me and the busy rats who lived in the thatch roof. That is until I moved in a Pussy Cat, then was all quiet.
I understand that it has changed. My tenants third generation still deposit their rent and pay as required the taxes. I take no money from them in true English Tradition, merely the pride of absentee ownership. I do not recommend it as a means of obtaining great wealth. How can you massage tenants that are now in the third generation. Besides they are friends of the rats and you really do not want to get them annoyed. They might eat up the roof.
Cheers Lucius
Even further off-topic...
I am a US investor who lives in the UK and invests in the UK. I can provide a few more stories about deals in the UK.
John
PS. A new thread would make sense