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David Zheng#4 Real Estate Deal Analysis & Advice Contributor
  • Investor
  • Saint Louis, MO
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Craziest Thing You've Ever Found in a Property

David Zheng#4 Real Estate Deal Analysis & Advice Contributor
  • Investor
  • Saint Louis, MO
Posted

I'm about to go into a hoarder/mismanaged potential apartment building and am prepping for the worst, so it got me thinking.

whats the most disgusting/craziest/expensive thing you've ever found in a prospective or rental property?

human remains... antiques worth hundreds of thousands... 25 abandoned cats?

and GO

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David Faulkner
  • Investor
  • Orange County, CA
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David Faulkner
  • Investor
  • Orange County, CA
Replied

I was cleaning out closets to prep for paint and in the corner of the upper shelf found a baggy of what I assume were drugs of unidentifiable type ... and no I did not test them out to see what they were ...

Another one that is more common but what I use as a "tell" that I'm likely to get a good deal is this ... for bank foreclosures, in my market they don't have to worry about freezing pipes so they normally turn the water service off ... well, for some reason some people still see fit to use the bathroom facilities even though the water is off. So, if there is a turd in the toilet, I know I'm getting a good deal because it eliminates 99% of retail buyer competition, and it is usually an easy fix: 1)turn on water, 2)flush, 3)replace toilet for $100.

Oh, and one of the more ironic ones found once was a complete VHS set of a get rich quick real estate guru package ... it was in a foreclosure I bought, so I guess that particular system did not work as advertised. I put it in the trash where it belongs.

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