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Jim K.#3 Investor Mindset Contributor
  • Handyman
  • Pittsburgh, PA
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FOUND: $642K and gold behind a water heater

Jim K.#3 Investor Mindset Contributor
  • Handyman
  • Pittsburgh, PA
Posted

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?

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Nicholas L.
#2 Out of State Investing Contributor
  • Flipper/Rehabber
  • Pittsburgh
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Nicholas L.
#2 Out of State Investing Contributor
  • Flipper/Rehabber
  • Pittsburgh
Replied

@Jim K.

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.


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