Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
Hi, I recently bought a free-and-clear house at the local tax auction for $25K, When I claimed it, the former owner had left everything in place and it needed a cleanout. So my guys were down to the basement and looked behind the water heater. They found a cavity in the foundation with the cash mentioned in used twenty-dollar bills with random serial numbers wrapped in opaque plastic food wrap, and a sealed Home Depot Homer bucket behind it. The bucket was halfway filled with South African Krugerrands and American Eagle gold coins. On top of everything was a plastic sleeve with an old-timey baseball card in it of some dude named Joe Doyle. I'm just lucky my guys called me before they threw the bucket and the bundle away.
I have no expertise in this sort of thing and don't know how I should invest this unexpected windfall. Can anyone help me deal with this?
I am assuming that this was in either Cleveland, Ohio or Columbus, Ohio. I would propose re-investing all of the proceeds in additional properties in Cleveland, Ohio or Columbus, Ohio, in which it seems like you are highly likely to secure additional windfalls, after which you will own the majority of properties in Cleveland, Ohio or Columbus, Ohio.
That could be considered personal property and belong to the previous owner. I would get an attorney involved and ask about the ramifications of keeping it.
The place was sold free-and-clear. That means whatever's there is mine, right? I mean, no one told me to go find the owner of the cat skeleton I found at the first place I ever bought at a tax auction.
Don’t listen to the naysayers. When I found that Rembrandt in the basement in New Jersey, I was told to put it in a museum and they sold it for big bucks. Never again. The next Rembrandt I find will be all mine.
Next year, Mike, it's going to be a trove of found Nazi art or bearer bonds. Haven't decided yet. The baseball card really sold it this year.
wow, can't imagine if we started flipping in Rome, Jim......lot of ruins lol
That could be considered personal property and belong to the previous owner. I would get an attorney involved and ask about the ramifications of keeping it.
The place was sold free-and-clear. That means whatever's there is mine, right? I mean, no one told me to go find the owner of the cat skeleton I found at the first place I ever bought at a tax auction.
Don’t listen to the naysayers. When I found that Rembrandt in the basement in New Jersey, I was told to put it in a museum and they sold it for big bucks. Never again. The next Rembrandt I find will be all mine.
Next year, Mike, it's going to be a trove of found Nazi art or bearer bonds. Haven't decided yet. The baseball card really sold it this year.
wow, can't imagine if we started flipping in Rome, Jim......lot of ruins lol
Carlos, I actually got my start in renovation flipping three condos in Athens, Greece. No, I'm not making it up, plenty of people here on BP can confirm.
“All men dream: but not equally. Those who dream by night in the dusty recesses of their minds wake up in the day to find it was vanity, but the dreamers of the day are dangerous men, for they may act their dreams with open eyes, to make it possible.”