Yesterday the debris removal started at an apartment complex I am dealing with. We have already found a little of everything. The usual suspects have all been uncovered including old clothes, smelly sofas, broken shelving units and porn.
In addition to stuff we do not want, we also find things we want like money. Nobody leaves stacks of cash laying around for us, but accumulating a big bag of change is fairly common.
I have been doing these debris removals in distressed projects for a few years. Sometimes the project is an apartment complex with issues and once was a 10,000sf commercial building full of "stuff". Something to be aware of is that the metal being removed has value. Between bed frames, old hot water tanks, refrigerators and misc. junk it is also not uncommon to end up with a few hundred dollars worth of scrap.
When dealing with a large project with thousands of dollars needing to be spent on clean up, a few hundred is important. If this situation comes in front of you, don't just let the trash guys take the scrap for themselves. Make sure to cut a deal for an offset on their bill if you allow them to sort the scrap.
Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com). The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Ohio Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast.
United Country Ohio Realty & Auction Career Opportunities Available. Call 614-885-0020 x 17
The funniest one I ever heard of was a condo that was foreclosed in Greenbelt, MD. The Marchall's service that supervised evictions in those days, found over $35,000 hidden in paper bags in a closet.
You'd think with that kind of cash around they'd pay the mortgage.
Of course, it was drug money.