Storage Auctions

partnerships??? good or bad??

Re: partnerships??? good or bad??
« Reply #15 on: August 16, 2011, 11:36:09 PM »
BigBizz,  you must have some good friends you can work with then! ;) 

My friend wanted to go in on a unit with me and was planning on going to an auction tomorrow.  I told her tonight that it would be better just to go and bid on our own (I even told her I would not bid on any unit she wanted) and then she suddenly decided not to go after all.  She said she needed to learn how to do all the online selling first.  So, in reality, she wanted to go in on the auction with me so I could do all the work and she could take half the profit. 

Re: partnerships??? good or bad??
« Reply #16 on: August 17, 2011, 12:28:42 AM »
BigBizz,  you must have some good friends you can work with then! ;) 

My friend wanted to go in on a unit with me and was planning on going to an auction tomorrow.  I told her tonight that it would be better just to go and bid on our own (I even told her I would not bid on any unit she wanted) and then she suddenly decided not to go after all.  She said she needed to learn how to do all the online selling first.  So, in reality, she wanted to go in on the auction with me so I could do all the work and she could take half the profit. 

U just gotta have a laid out game plan. Say u got 500 ur friend got 500 u see a nice unit and ur cap is a grand. If your both bidding an acting like ur not together people will start saying away when they see two interested people rather than one once the bids get up there. Know what I mean. Just gotta have a plan. Should deffinately make her do some learning first, u can give her pointers, lead her in the right direction until u feel she can handle it an not get intimidated.
Where yall at in Cali?

Re: partnerships??? good or bad??
« Reply #17 on: August 17, 2011, 09:46:32 AM »
I'm in Orange County, near Disneyland. :)

Re: partnerships??? good or bad??
« Reply #18 on: August 17, 2011, 10:18:22 AM »
I've partnered up off and on over the years and it can be good.  But, one guy I partnered up with a couple of years ago soured me on partnerships for the most part.  We bought a large, commercial type locker full of building materials from an out of business contractor.

Well, first off, when it came time to pay, he was a little "short".  Okay, I kicked in the rest and we got to work.  Well, he starts picking through it and grabbing stuff.  "I want this and this and this...." on and on, grabbing key items and some tools that he wanted to keep personally.  We get a bunch of stuff moved that first day, and when it's time to go back the next day, oops, he has to work!  So I end up having to clean out most of the rest of the locker myself.

Okay, so now we have the locker cleaned out and it's time to sell stuff.  "Uhhh, I don't have a camera that takes good pics", he tells me, "so you are going to have to take the pics and do the craigslist ads".  Okay, so now I take the pics, run the ads, meet up with people to sell stuff, don't keep anything out of the locker for myself, while he keeps quite a few valuable items, and I paid for almost the entire locker in the first place.  Hmmm, wtf do I have a partner for?  I guess the only good thing about me doing the selling was I made sure I got my money back before he got any money!

I pretty much go it alone, with exceptions.  Sometimes there is a really nice or really large locker that I would like to have, but goes for too much money or seems like too much work.  It does soften the blow if you buy a thousand dollar locker that turns out to be crap, and you only lost 500 each instead of the full grand yourself.  Just keep in mind though, if there turns out to be a 4k profit in that unit, you are only getting 2k instead of the full 4k!   


Re: partnerships??? good or bad??
« Reply #19 on: August 17, 2011, 03:10:05 PM »
I'm in Orange County, near Disneyland. :)
Nice. I'm a lil north closer to Venice but I was over in whittier/ normal last week hit a pretty nice one

Re: partnerships??? good or bad??
« Reply #20 on: August 24, 2011, 05:14:28 PM »
In my case it was a bad idea. I started a business (printing) when I was 20 years old and didnt have the credit I needed to purchase a piece of machinery. My dad said he would co-sign the loan for me for a silent % of the business. Not to long after that, he lost his job and decided to come and work with me. Since he money in the business, and he was 'the dad', he was always right. It totally destroyed our relationship. I ended up leaving the business and haven't talked to him in 10 years. It's a shame but money does strange things to people you think you know.

Re: partnerships??? good or bad??
« Reply #21 on: August 24, 2011, 10:27:25 PM »
Ya money will strain any relationship.

Re: partnerships??? good or bad??
« Reply #22 on: September 26, 2011, 11:59:33 PM »
Most partnerships end badly, I have been through it several times. It is harder than a marriage and I have been married for forty one years. One person always thinks they are contributing more and disagreements arise over what to buy and selling prices, with both people having different lifestyles, time commitments and monthly bills to pay. I stick to working only with my wife, that is hard enough  :D

J.R.


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