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Updated about 5 years ago on . Most recent reply

User Stats

59
Posts
99
Votes
Shaun M.
  • Rental Property Investor
  • Gunnison, CO
99
Votes |
59
Posts

What's the coolest thing you've found in a property?

Shaun M.
  • Rental Property Investor
  • Gunnison, CO
Posted

I was cleaning out the basement of one of our rentals...

I saw something stuck in a corner behind a bolted on rack of shelves. I couldn't quite get to it and had to unbolt the whole unit from the wall. Worth it.

Unceremoniously wrapped in old newsprint was a custom rifle stock awarded to the first place winner of the 1996 Idtarod Dogsled Race in Alaska. It had never been installed and was custom engraved with the name Jeff King. 

A quick wikipedia search revealed, yes indeed Jeff King was the 1996 winner.  How it got from Alaska to Colorado is a mystery. I have reached out to Mike on Facebook to try and get some info and return it to him. Wild!

What is the coolest thing you have ever found in a rental or flip?

Most Popular Reply

User Stats

28,055
Posts
41,056
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,056
Votes |
28,055
Posts
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

My best find in a rental was a German K98 bayonet with sheath. It's in excellent condition but probably only worth $150 - $200. It was in a rental I just bought last month.

But my best find was in a home I sold. Bare with me while I reminisce...

Owner was a retired banker/investor that was also a competitive shooter. He got old, decided to move closer to family, but thought he may return to the area some day. He asked me to manage the property as a rental, which I did. He had one room in the basement that he called his "armory" but I had never been inside it. He kept it locked and never gave me a key. 

After managing the home for five years, he called me and said, "I have some ammunition in that armory and I'm concerned someone could be injured if the home ever caught fire. Can you get rid of it for me?" He said I could keep it, sell it, or whatever. I hired a locksmith to get me in, expecting to find a few boxes of old shells. 

PAY DAY!!!

What I found was enough ammo to fight off a small army. It took three people almost 20 trips each to load it into my car. We filled the trunk, the back seat, and the passenger seat. My shocks were literally bottomed out and I thought I would break an axle every time I hit a bump. I sold everything for 1/4 - 1/3 the original cost and still made over $5,000. I didn't feel right keeping it so I sent half the money to him. 

But wait, I'm not finished.

Fast forward five years. He decides to sell the house. I remind him there's a large safe in the armory that can't be removed (the room was built around it). I ask him if it's empty. He says, "I think we emptied out but I can't remember. If there's anything in there, you can have it as a bonus for being so good to me all these years." Remembering my under-estimation of the ammunition, I start to salivate a little. 

All he knew is that the code had never been changed from the factory settings. A little Google research and a quick battery change and I was able to open the safe with the default code.

BOO-YA!

YAHOOO!!!!

I kept the Kimber 1911, Springfield XD, Winchester 30/30, Marlin 1894 Cowboy Limited, Remington 870 Express, and the Ruger Mini-14. I also kept about 75% of the matching ammo and accessories. Sold the rest for almost $1,000.

If you're ever in the neighborhood, I'll be happy to take you out for target practice.

Best. Day. Ever.

  • Nathan Gesner
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