Storage Auctions

partnerships??? good or bad??

partnerships??? good or bad??
« on: August 08, 2011, 03:00:24 PM »
i was talking to my dad a bit ago and he said he was thinking about getting into these as a way to make a little money? now since he has had 6 back surgeries and i have a small amount of money to work with imo it would be beneficial for both of us to work together since i can lift and i know the ropes for the most part and i also know what to look for thanks to all my beautiful research and talking to people. i figured with me doing most of the work and bidding and him just supplying a little extra money and posting items to sell online and knowing more people that would want items that we would split the profits down the middle.

would this be a good idea to get into a partnership or would it be a bad idea and cause more trouble?

theres also things we are both looking for and that we could both use thanks to the economy and all and we know what each other wants to keep and all.

any ideas or any kind of advice would be helpful...

Re: partnerships??? good or bad??
« Reply #1 on: August 08, 2011, 04:14:19 PM »
You and your father get along really well? No money fights throughout the years? If you get along and there is no money fights then I'd say go for it. It may or may not be successful, but the father, son bonding moments can create great memories and that is much more priceless than money in my opinion.

Re: partnerships??? good or bad??
« Reply #2 on: August 08, 2011, 04:23:51 PM »
Partnerships can work.You both have to have a clear understanding as far as job duties goals etc.It helps to have it in writing.
They can be hard if you don't have the same vision and work ethic.
You have to sit down write some short term and long term goals and how you are going to achieve them.

Offline Travis

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Re: partnerships??? good or bad??
« Reply #3 on: August 08, 2011, 06:35:39 PM »
Personally, I wouldn't partner with anyone unless I absolutely had to. You would be better off borrowing a little money from him until you get on your feet.

Re: partnerships??? good or bad??
« Reply #4 on: August 08, 2011, 07:04:39 PM »
Total noob at this so take my wards with some salt.

If you and your father get along and communicate well it can be a great boon.  My father and I do many estate auctions and such together.  He has more cash then I, where I have the tech, truck and trailer, etc.

In your case it sounds like you will do all of the physical labor.  However, he can do alot of the actual selling, sorting, picture taking, etc.  Mostly the computer and network work that you may or may not want to take time to do.  Or that is time you could do other stuff.

For storage units in my case I'm doing most of the research to find auctions, calling places, etc.  My father will hit a few of the auctions and stuff that run while I'm at my full time job.  If we win anything then I stop buy to do first sorting and loading and see if need to come back for a second trip or to bring the trailer.

Two people are better then one during the actual auction also.  One can be a distraction and/or watch the crowd for signs while one watches the auctioneer.  Can also be researching or getting another longer look at the unit while one bids if it's not a very fast paced auction.  Least that is what we have done at estates.

Offline bwd111

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Re: partnerships??? good or bad??
« Reply #5 on: August 09, 2011, 10:32:16 AM »
Well get ready for way,way,way high prices now. It use to be buy low sell high. Now its high prices and selling is hard. Remember if you cant double your money your wasting your money. If you pay 600 for a locker you better make 1200

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Re: partnerships??? good or bad??
« Reply #6 on: August 09, 2011, 04:48:42 PM »
I disagree with that. Are you telling me that you wouldn't spend a grand on a locker if you know you could make a quick $400 profit? 


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Re: partnerships??? good or bad??
« Reply #7 on: August 09, 2011, 09:29:16 PM »
I disagree with that. Are you telling me that you wouldn't spend a grand on a locker if you know you could make a quick $400 profit? 


If I knew for a fact what I was looking at was an easy quick $400 profit sale (this is with all the other fees we end up paying, trash, gas, etc). Then ya I would do it.

Re: partnerships??? good or bad??
« Reply #8 on: August 16, 2011, 01:16:14 AM »
I have only purchased one locker and I have already had two people offer to do it "with" me.  I did manage to find some pretty great things in the locker, (gold jewelry, some instruments, nice furniture and a few antiques) so I think my friends want in on the action.  One of my friend is begging to go to the next auction with me and wants to split the price of a unit.  Part of me was thinking it would be nice to have help loading and unloading things but the more I think about it I have a funny feeling that I will end up doing ALL of the work.  The stuff will be put in my garage, where I will have to spend hours going through it and my trash cans will get full.  Then I will have to take pictures and post everything, since she said she doesn't know how to use the computer that well.  Then I will be driving all the good antiques to the dealer.  To top it off, she already mentioned that there were things in the locker I purchased that she would have liked so I have a feeling she would pick through everything first and guilt me into keeping it and then have me do the rest of the work to sell everything and then keep half of the profit!  Since I have a tendency to be WAY to nice, my husband has intervened and said, "NO WAY!"  I have not even told her yet but I am going to have to tell her tomorrow that the auction she wants to go to with me on Wednesday, she is on her own.  Why can't she just buy her own?  It is probably because she want's me to do the work and she gets paid for it.  

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Re: partnerships??? good or bad??
« Reply #9 on: August 16, 2011, 01:31:41 AM »
I have only purchased one locker and I have already had two people offer to do it "with" me.  I did manage to find some pretty great things in the locker, (gold jewelry, some instruments, nice furniture and a few antiques) so I think my friends want in on the action.  One of my friend is begging to go to the next auction with me and wants to split the price of a unit.  Part of me was thinking it would be nice to have help loading and unloading things but the more I think about it I have a funny feeling that I will end up doing ALL of the work.  The stuff will be put in my garage, where I will have to spend hours going through it and my trash cans will get full.  Then I will have to take pictures and post everything, since she said she doesn't know how to use the computer that well.  Then I will be driving all the good antiques to the dealer.  To top it off, she already mentioned that there were things in the locker I purchased that she would have liked so I have a feeling she would pick through everything first and guilt me into keeping it and then have me do the rest of the work to sell everything and then keep half of the profit!  Since I have a tendency to be WAY to nice, my husband has intervened and said, "NO WAY!"  I have not even told her yet but I am going to have to tell her tomorrow that the auction she wants to go to with me on Wednesday, she is on her own.  Why can't she just buy her own?  It is probably because she want's me to do the work and she gets paid for it.  

I have had several people approach me to partner up with. Each time I have turned it down. Two of them were people I know from the neighborhood. I seen them go out a few times. Never seen them actually bid, even though they talked liek they were buying every unit. And to my surprise (hint of sarcasm) they are no longer doing it. My brother in law wanted to partner up with me, and yet again I have turned it down. He has never been out there. Then some guy my wife works with, he wanted to partner up with me. He would of been the only applause-able  one I would even consider, since he has a large bank roll, and does resell already with high end appliances. But yet again, I turn it down anyway. I dont like partners.

Re: partnerships??? good or bad??
« Reply #10 on: August 16, 2011, 10:18:04 AM »
I guess there are always going to be people that want in on the action. ;)  I forgot to mention that this same friend of mine that wants to partner with me is severely claustrophobic.  I mentioned that sometimes the storage units are indoors and that when it is crowded it can feel a bit "stuffy."  Her response was that I could go in and bid for the unit without her.  So,  I even have to win the unit without her help!?  Really?

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Re: partnerships??? good or bad??
« Reply #11 on: August 16, 2011, 11:49:00 AM »
I guess there are always going to be people that want in on the action. ;)  I forgot to mention that this same friend of mine that wants to partner with me is severely claustrophobic.  I mentioned that sometimes the storage units are indoors and that when it is crowded it can feel a bit "stuffy."  Her response was that I could go in and bid for the unit without her.  So,  I even have to win the unit without her help!?  Really?

lol, advise her that this is not the kind of job for her. Things get stuffy even while cleaning out lockers. and IMO, you like the locker, you bid the locker, you win the locker, YOU CLEAN THE LOCKER. You can hire people to do all of that. Although personally, at this moment in time. I like to do everything from step one to the final step. Which is dumping the trash, donating to an organization of some type, or a final sale.

Re: partnerships??? good or bad??
« Reply #12 on: August 16, 2011, 12:37:35 PM »
I had a very malicious thought of saying "sure.  I'll partner with you!" Then purchasing a really crappy unit, telling her that it needs to be delivered to her house since my hubby doesn't want it in our garage and then leaving her to clean through the crap without much help.  I am sure that would cure her.  That is probably a lot harder than just saying, "no thanks.  I am OK on my own."   But it is REALLY tempting! ;)

Re: partnerships??? good or bad??
« Reply #13 on: August 16, 2011, 07:25:25 PM »
Let us know what you decide.

Re: partnerships??? good or bad??
« Reply #14 on: August 16, 2011, 09:28:29 PM »
Personally I like bringing a good friend an splitting something u can up the bids and if both are bidding u got better chance of winning the unit imo


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