Making money from buying storage lockers at auction is a booming trend. It’s possible to work only a few hours per day and still make a big time profit.
Buying items for resale at storage auctions is a great way to make money. Depending on the auction, you can be bidding on something as small as a single box or carton, to as large as an entire 400 square foot storage room. What you are doing is buying the entire contents at a wholesale price, and expecting that the merchandise you find inside will allow you to double or triple your investment, or more. The storage company has a problem; they have a unit that’s full of stuff that they need to remove. You get to buy this stuff at a steep discount, throwing some out, and reselling the rest for a tidy sum of money.
While it is possible to make a good amount of money this way, there are also risks of which you should be aware. Lots of different things can be found in this units, and you almost never get to inspect what’s inside before you buy them. You might get stuck with a bunch of old rags, or a few moldy mattresses. Or worse, you can have a huge volume of goods, but that have no resale value whatsoever.
So how do you take advantage of the profit potential that these auctions present without losing your shirt? This book will give you tips and strategies about the process, and how to maximize your return while minimizing risk. We will also go over the procedures and rules, so that you can avoid common mistakes in the process. And, we’ll give an example of an easy to follow system for selecting items to buy, how to organize yourself and your team, and some tips on how and where to resell your purchase for maximum profit.
Storage auctions are a great opportunity to make money by helping everyone out. Let’s get started!
Chapter One: Storage Auctions
What kind of return should I try to get?
How much can you make?
The Value of Research
Doing Research at the Auction Itself
What’s that smell?
What you may hope to find, and what you may actually find
Tips for Bidding on Units
What not to do
Chapter Two: Running the Business
Creating Your Own Auction Calendar
Figuring out how much stuff is worth
Deciding what to keep and what to throw away
Dealing With Trash
Keeping a Selling Calendar
Having enough cash
Having people to help
Having a place to put all the items
Chapter Three: Reselling
Tips for Reselling
Before you sell
Selling at Yard Sales
Selling to a pawn shop
Selling your items on eBay
Selling on Craigslist
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