Most frequently asked questions about storage auctions

Ok I was thinking about adding a section on the forum about most frequently asked questions from noobies so we can all answer them and then when nobodies come on the forums most those same questions will be answered and easy to find. So all you that have been around here for awhile post some of the popular questions that get posted a lot and we will pick the best ones

Sounds like a wonderful idea.


Where do you find the auction list / time and dates ?

How much money should I take?

Should I take my own locks? If so, how many and why ?

How long do I have to clean out the locker I buy?

Will there be a deposit?  If so, how much is it and why ?

Will my 6 kids be welcome? If not, why not?

Should I shout "Yuuuup" when I want to bid?  If not, why not?

Do I need a truck, van or trailer?

What do I do after I buy a locker ?

Where should I sell the items I get?

How much are dump fees?

How do I go about figuring out the price I want to charge for the items I want to sell?

Should I have a partner? If not, why not?  If so, why so?


Can I make a living at this? I need to clear at least $45,000 a year to pay for all my own stuff.
*****

I doubt that covers all the questions, but Cobia, Craigs...., Rockin' and others will be chiming in too.

Movieman making me laugh


"Can I make a living at this? I need to clear at least $45,000 a year to pay for all my own stuff.
*****"


or should I be crying ...... 

How bout just sticky a thread at the top of this forum and we can answer them at our leisure here.

How bout just sticky a thread at the top of this forum and we can answer them at our leisure here.

I think the FAQ idea is better. Once the 10 to 15 questions are well defined by Drew, he would simply make the thread of FAQ and put answers there with them. In my opinion, the thread could be "locked" after the FAQ and answers are posted and if people persist in asking those same questions in new threads it would be a simple matter to simply refer them to that FAQ thread. This would eliminate a lot of duplication.

If a newbie comes up with a question we haven't thought of it could be added to the FAQ by Drew.

A FAQ is good but no matter what you do the questions will be asked over and over again because people in general are LAZY and they watch Storage War and Hunters ect.... and get some money and think they will turn it in 5 mil in 2 weeks. They get all excited and just cant stand to read till their eyes bleed to see what to do when and how.....LOL

Good Luck with it though Drew I will help any way I can so here is mine.

How do you determine what amount to bid ?

"I live in a 1 bedroom apartment on the 18th. floor of the building and I drive a Smart car. How much should I spend on my 1st. locker, a 10 x 30 packed out? Oh, and where can I find the hidden unadvertised storage facilities that all the old timers go to get really great deals in my city?"

"Can I bring my pet monkey with irritable bowl syndrome to the auctions?, thanks."

What do I do with the personal items?  What is considered personal?
Do I have to pay tax?
What is a buyer's premium (BP)?
Do they take check / credit-cards?
Do they (managers, auctioneer, etc) go in the unit and get all the goodies out?

Why don't they cut the lock off like they do on TV?
Can you tell me where your secret spot is with only 5 bidders and 100s of lockers for cheap?


I'll have to go re-visit the newbie section's older threads to find most common questions.  

"I live in a 1 bedroom apartment on the 18th. floor of the building and I drive a Smart car. How much should I spend on my 1st. locker, a 10 x 30 packed out? Oh, and where can I find the hidden unadvertised storage facilities that all the old timers go to get really great deals in my city?"

"Can I bring my pet monkey with irritable bowl syndrome to the auctions?, thanks."

These two are CLASSICS and should be included in the FAQ for laughs if nothing else....probably is some yahoo who actually fits these criteria !

Who you calling an old-fart??    Even if I do know what you were referencing.

I just thought of this last night but may want to be added to the tips section of things.  For hobbiest like myself who don't have a businesses license, and just do this as a hobby.  For tax purposes you need to keep track of mileage, receipts from unit purchases, etc.  You do this in case/for when you make a profit at the end of the year.  If, like me this is a hobby you can't declare a loss.  However, if you get that tax form from e-bay since you sold so much there, that thrift store you sell at, etc. you can take your expenses against the profit.  That way you either pay nothing on your hobby income, or lower it greatly.