Storage Auctions

income

income
« on: May 23, 2011, 02:28:16 PM »
Was wondering how possible it is to profit 1000-1500 a month on storage units. Doing this on a part to full time basis.

Offline MovieMan

  • *******
  • 4175
    • View Profile
Re: income
« Reply #1 on: May 23, 2011, 02:51:33 PM »
Was wondering how possible it is to profit 1000-1500 a month on storage units. Doing this on a part to full time basis.

It is certainly possible to net $1K to $1.5K on a part-time basis. Here are factors which would affect that.

1) How much you pay for lkrs.
2) How much you sell contents for

3) The quality of the goods you obtain which you then sell.

Numbers one and two above are the most important of course. Also, the three things I mentioned above don't take into
consideration the following as you asked is it possible to "profit" by 1k or 1.5K.

These things of course have to be accounted for in the "expense" column.

1) lkr cost above
2) dump cost (for the inevitable trash that must be disposed of)
3) storage cost (if you run out of space at home)
4) labor cost (if you hire someone to help you)
5) selling location cost (flea market?)
6) value of your time invested (?)

Further, if you did this FULL-TIME, it certainly would be possible to NET that amount (or more) depending on all the factors above.

This is a business like any other. You have to plan what your expenses might be and project what your income might be. Every time we buy an individual lkr we are looking at all those factors. If you do this on any regular basis you will get good and bad lkrs. You can't control the contents until you get them in your hands. Thirty clean totes might contain nothing but old clothing, past bills, statements, income tax records, old newspapers, 40 photo albums from 1970 that have no value, you name it.

 IT'S A GAMBLE !  If you can't afford to lose the money you spend on a lkr then you shouldn't even spend it. Typically, you wouldn't lose everything you spent, but getting only 50% of your investment back is pretty discouraging and might make you shy the next time out.

As to "HOW" possible it is, that's not easy to guage. I personally couldn't tell you that the next 3 lkrs you buy are going to make you "x" profit. There are just too many variables. I can tell you that if you buy 50 lkrs, ONE might be a REAL BIG WINNER, or it might be 1 in 100.  I can also tell you that out of 50, maybe 5 to 10 you might LOSE money on. So, that leaves maybe 35 to 40 lkrs (out of 50) that you would make SOME money on...might be a good return or an average return. Generally speaking, yes, some people will disagree with this...the thought is that you should try to DOUBLE YOUR MONEY; so in a month's time, if you spent $1000 on lkrs, you would have hoped to have sold the contents for $2,000 and thus achieve your $1,000 profit.

Maybe you' do THAT, or ..... make $800 profit or.... break even..... or lose money.....you might only sell $900 worth of goods. Lots of possibilities right? You have to jump in (even partially) and give it a try. Don't quit a full-time job !

Offline jrossjr79

  • *****
  • 869
  • In it to Win it
    • MSN Messenger - jrossmakesmoney@gmail.com
    • View Profile
Re: income
« Reply #2 on: May 23, 2011, 04:07:06 PM »
I would like to agree with everything that Movieman just said. You will come across good lockers, just like you will come across crappy lockers. And IS ALWAYS A GAMBLE. I dont care if you can see everything from the threshold of the locker or not. Just because you see it, number one does not mean you will get what you think you will get for it. That it is in good shape or even working for that matter.

If you ever been in a professional sales position, whether its furniture, appliances, news papers, some door to door type or a tele-marketer. This is the same as those. Its a numbers game. The more you buy the more you increase your chances of getting a really good unit. Although you will need to take in account you will also end up with more crappy lockers.

Just like Movieman said though, your goal should be, just like all of ours is to double your money. But that is not always the case, sometimes you will lose all of it, get only 50% of what you put into it, or break even, double your money, and in some cases make a few grand when you only spent $500 on a locker. There is alot of variables in play.

Oh Movieman, you forgot one very important expense, GAS! :)

Offline MovieMan

  • *******
  • 4175
    • View Profile
Re: income
« Reply #3 on: May 23, 2011, 04:57:20 PM »


Oh Movieman, you forgot one very important expense, GAS! :)

I'd LIKE to forget about it, but these days it's even more important to watch that expense and it CERTAINLY has to be considered as one of the major expenses we incur. Thanks for REMEMBERING it for our new entrepreneur !

Offline Travis

  • *****
  • 5484
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Re: income
« Reply #4 on: May 27, 2011, 10:08:35 PM »
What was the question again "Was wondering how possible it is to spend 1000 - 1500 a month on gas."

Offline jrossjr79

  • *****
  • 869
  • In it to Win it
    • MSN Messenger - jrossmakesmoney@gmail.com
    • View Profile
Re: income
« Reply #5 on: May 30, 2011, 11:00:38 PM »
What was the question again "Was wondering how possible it is to spend 1000 - 1500 a month on gas."

lol

Re: income
« Reply #6 on: June 22, 2011, 05:07:08 PM »
There are people in this business making from 1000K a month up to 10K a month. Some even more than that.

We have a couple of big sharks here in Memphis, they own several stores, and they sell for between 15K and 25K a month. But then again, they buy 20-30 lockers a week.

One of these sharks i have gotten to know really well, and he brings around 12K-15K to every auction.

It is all in how serious you are, and how you build it up. There is really no limit if you do it the right way.
And yes, the "golden lockers" are out there, adn you will get them at some point if you hang in there.

To all newbies that are wondering if there really is lockers out there that can make you 10K, 20K, or 30K alone, YES there is. Follow your gut feeling, and don't let anyone tell you that you can't do it or that you can't find dream lockers.


xx
Passive Income Vs Active Income in Sales? Your opinion?

Started by MTP

5 Replies
3190 Views
Last post May 27, 2013, 08:53:14 PM
by Cobia
xx
Income Tax Returns

Started by Travis

9 Replies
3276 Views
Last post February 03, 2013, 11:42:13 PM
by Alias300
xx
income tax refunds

Started by terry

6 Replies
3913 Views
Last post March 14, 2011, 10:09:04 PM
by MovieMan
xx
Your monthly income of profit?

Started by The Prodigy

3 Replies
2959 Views
Last post January 27, 2011, 09:11:36 AM
by Mr Andersen