Recently, I have noticed several websites selling e-books that claim to reveal hidden ways to make a fortune at storage auctions. Allow me to be blunt; there are no hidden methods to the storage auction business, there are just things you may not have learned yet. If these self proclaimed gurus were making so much money in the storage auction business, why aren't they still doing it? If they were doing something different that was making themselves rich, why would they want their competition to know about it? Besides, how can you trust a word they say about the storage auction business when their main goal is to sell you something?
Of course they're going to tell you that everything is just peachy keen in the storage auction business, they make their living off of selling you their books. They'll even tell you that you can buy units for pennies on the dollar. They won't tell you that ever since the storage auction reality shows premiered, the number of buyers attending storage auctions has tripled and that most storage units are selling at or above retail cost. These prices are fueled by the buyer's hope that there will be some unseen treasure inside the unit. Don't get me wrong, there are still ways to make a profit in the aftermath of the storage auction reality shows; However, we will cover these tactics in other articles.
There is one guy out there trying to teach you how to avoid storage auction mistakes, well, paying for a book should be #1 on the list. Some of these sites even claim that you only have to invest a few hours per week. I recently read the following statement on one of these websites - "Anyone can now make tons of cash working a couple of hours on the weekend & without quitting your day job! My response to this is, yeah right. This is a full time job which requires lots of time and physical labor. The people that are truly successful in this business attend auctions five, sometimes even six days a week and they aren't afraid to get their hands dirty.
Although I personally don't consider attending storage auctions to be work, because they can be a lot of fun, you have to consider the amount of time you have to spend at these auctions. Also consider the time involved in doing research, cleaning out units, sorting through the contents, taking pictures, posting items online, answering phone calls, meeting with customers & having sales. This can easily add up to over eighty hours per week.
Now, don't get me wrong, you can do this business part time, but even part time is twenty to thirty hours per week minimum. If you make this your part time job, don't expect full time income.
Truth be told, you don't need to buy a book to learn about the storage auction business; you can learn everything you need to know about the storage auction business right here. Keep in mind, I am not trying to sell you a book or a learning course. The reason I'm not selling this information is so you can trust that all content on this website is completely objective.
I would like to add to this. For all of you who are jumping in this business because of the hype that is on tv, or the many websites promising you riches. Be warned. Yes it can be fun, yes it can be worth it. But you will be working a lot more hours than you think. It takes time to find the right unit to bid on. You will constantly be driving from on location to the next and sometimes not buy a unit all day. In the event you do, you have to clean out everything. I do MEAN EVERYTHING. You do not just take what you want and leave the rest behind. That is one good way of making sure you can not attend that facilities auctions anymore. Sometimes even any facility that the auctioneer goes to. Most stuff you find in the unit is trash, personals, and low dollar items. Which in turn means more work. Now you have to take the trash to the dump, which cost money and time. And sort through the GOOD stuff that is low end money and find a way to sell it all and still make your money back. Generally you want to double it. This means contacting the right people when you have a bulk of a certain item. Selling at flea markets and or yard sales. This is hit and miss as well. Take pictures and list on a various different web sites.
This business is some what like a gamble. You can spend $500 on a unit and sometimes make nothing back, or just a few hundred dollars. You can not be certain of what you got till you already bought the unit. Which is why it is like a gamble. Sometimes you may come across a unit you pay $500 and make a PROFIT of a few thousand dollars. It can and does happen, but it is just like the lotto. I know a Veteran at storage auctions, her and her partner have been doing this for 13 years. They own a store which they keep pretty well stocked. But have insisted that they never came across what you might refer to as a JACKPOT unit. So do not believe the hype that TV shows or marketing people try to tell you. You can make a living, yes, but you could also lose everything. This is not, AND I REPEAT, not a get rich quick scheme. You want to be rich, then you are going to have work hard, and I mean hard at it.
I’m writing because I want to start making a lot of money like the guys on TV.
I want easy money and I’m ready!
If you want easy money, look elsewhere because this isn’t the business for you. This business requires a lot of time and labor in order to be successful. You might have to buy 50 or more units before you find a unit like the ones they show on television.