What would you do here?

[gimmethesimplelife]

Today I've been going through the last of the boxes of our late tenant from the guesthouse behind our house (that my cousin and I co-own). Right before I was done with this project, I struck gold. Literally. One chunky ring that is 18K and another even heavier ring that is 14K.

What would you do if you were to run across such? My gut instinct is to hold onto them as I've been reading of more and more economists predicting a recession and should this occur, the national debt is so high and the GOP is in power so we can't expect much if any Obama-style humanitarian stimulus........in this situation, gold talks and may very well appreciate......or would you sell now and fund something with the proceeds?

Interesting situation to find myself in.....and funky that I did not find this until the going through the very last of her stuff (She passed two years ago at the end of August 2016). Rob

[Teacher Terry]

Since she has passed I would cash out if gold still a decent price. If she was alive I would return of course.

[iris lilies]

...drops IPAD...

Rob, you are also a landlord? This is in addition to the property you own and live in? All this, in the 85006 which has 85% of the properties worth more than my house?

Dude, you are going to have a hard time justifying the victim role if you continue to pull these rabbits out of hats.

Meanwhile, I assume the gold jewelry is legally yours and that is why you are treating it as investment potential. As for keeping this investment in gold, I suppose it wouldnt hurt to diversify your portfolio a little, assuming you have no other gold. But generally speaking, gold jewelry is NOT investment material. If you havent already, take the rings to a jeweler to get melt value on them.

[gimmethesimplelife]

...drops IPAD...

Rob, you are also a landlord? This is in addition to the property you own and live in? All this, in the 85006 which has 85% of the properties worth more than my house?

Dud, you are going to,have a hard time justifying this victim role if you continue to pull these rabbits out of hats.

Meanwhile, I assume the gold jewelry is legally yours and that is why you are treating it as investment potential. As for keeping this investment in gold, I suppose it wouldnt hurt to diversify your portfolio a little, assuming you have no other gold. But generally speaking, gold jewelry is NOT investment material. If you havent already, take the rings to a jeweler to get melt value on them.

There is a guesthouse behind the house, yes. From time to time we have rented it out at a very cheap $400 a month. My half of the rent money always has gone directly to my Mother to help her out financially but this money here from the brief time this tenant rented the guesthouse? I have squirreled it away as running money as I'm not very confident of the future in the US. It's not all that much money, realistically, though there have been times in my life when I would have said otherwise - such as my couch surfing days when I was younger.

We have not rented out the guesthouse since this tenant's passing as this tenant had numerous medical issues and ended out dying in the guesthouse while I was in Denver two years ago, at the end of August 2016, and the whole experience was what I would call "icky" - We may rent again, however, as I have found a Catholic charity called Maggie's Place that helps destitute pregnant women get back on their feet and this charity - where I buy most of my clothes and where most of the furniture in the house comes from - has expressed an interest in having one of their clients rent the guesthouse. Still $400 a month, utils included, access to the washer, and no deposits....you will not find a better deal in town but it is very very very small which is why we have priced it so cheap. Plus it's in the 85006 but to be honest rent IS going up even in the 85006 which stuns me but it's true regardless.

No Donald Trump slumlord types are my Cousin and myself. Rob

PS About what properties cost in the 85006? Just ten years ago after the real estate meltdown in Las Vegas and Phoenix among other places, you would have been hard pressed to find any property in my neighborhood listing for over 50K....seriously. It's insane what they are listing for now, I would agree with that, but we have no intention of moving at the moment anyway. Thankfully property taxes are low in Phoenix, this is something I am grateful for every day of my life. Seriously. Even in the more expensive Coronado neighborhood a bit over on the other side of the 85006 you would have been hard pressed ten years ago to find a property listed for more than 65K.....all that's changed now, true.

I would not be so bedazzled by what 85006 properties are listing for - Phoenix historically has been a very boom/bust town for real estate and I have no faith whatsoever that this has changed. We are just on the boom cycle right now, and as we have no intention of selling at this moment, what we focus on is the property tax. Should I leave the US, yes, then things change, I'll give you that. And we have also no intention of taking out loan(s) against this property. Rob

[iris lilies]

PS About what properties cost in the 85006? Just ten years ago after the real estate meltdown in Las Vegas and Phoenix among other places, you would have been hard pressed to find any property in my neighborhood listing for over 50K....seriously. It's insane what they are listing for now, I would agree with that...

Sorry, I call BS.

I sampled “Sold” data from Realtor.com for the first 5 single family properties for which I could find sales data reaching back to your ten year mark and beyond. Every one of them, 100%! sold for far more than $50,000*

So, what’s my point? This attempt to look poor seems like more faux facts from you, our resident unreliable narrator. You are the poster boy of middle class privileged America. White, college educated, home owner, landlord. Oh, and now holder of gold jewelry.

I would not be so bedazzled by what 85006 properties are listing for - Phoenix historically has been a very boom/bust town for real estate and I have no faith whatsoever that this has changed. We are just on the boom cycle right now, and as we have no intention of selling at this moment, what we focus on is the property tax. Should I leave the US, yes, then things change, I'll give you that. And we have also no intention of taking out loan(s) against this overinflated current property value. Rob

Well, I do agree that it doesnt matter a whole lot how much your real estate is worth if you are living in it and don't intend to move. But a little casita in back that generates $5,000 passive income is pretty luxe.

* here is the data

1639 E. Harvard sold for $160,000 in 2007

1533 E. Brill sold for $230,000 in 2006

1224 E. hubbell sold for $147,000 in 2004

1813 W. willetta sold for $190,000 in 2008

1519 E. Cambridge sold for $140,000 in 2005

[Teacher Terry]

Wow Rob, I am happy for you as it appears you have a great foundation. Glad you are not poor.

[bae]

Are you buying gold right now with your spare cash?

If not, sell the rings. Maybe throw a block party with the proceeds.

[Yppej]

I am surprised you frequent Catholic Charities. Years ago I had an interview scheduled with them and started preparing by researching the organization. I called and cancelled that interview because of their refusal to let gay couples adopt. In 2006 seven members of their board here in Massachusetts resigned because of this same issue.

As to gold, I had one piece someone gave me once and it got stolen. If you keep it make sure you store it in a safe deposit box in the bank. I know from experience home safes are not secure.

[ToomuchStuff]

What about the next of kin? Who buried the body? The probate court or will? Did any of these tell you to keep these possessions? Did you even try to notify anyone?

[catherine]

I am surprised you frequent Catholic Charities.

Catholic Charities consistently gets very high ratings for their social programs and how they administer their funds.