Hi All! I first stumbled on these storage auctions while browsing my local paper classifieds about 1 1/2 years ago. To this day, I can't get it out of my head that I could do this and replace my real job. When I first saw the ad in the paper, I went to the public storage auctions for a few months in a row. Observed, bid on some, but then backed down when the thoughts of what the hell am I going to do with those mattresses, and how am I going to get all this home and where am I going to put it all scared me. About a year ago, I went to a less publicized auction and bought a small locker for $5. I sold a couch, and some tires from that unit. Spent a lot of time hauling and going through the stuff. Planned on selling some more of the small stuff, but eventually got tired of walking around it and tossed it all.
I am a working mom of young kids that are pretty involved in activities and sports. I am to the point of overload. I am looking for more flexibility. I am thinking about quiting my job and trying this FT. Or going PT and doing this PT. My question to the veterans is... Can I honestly replace my current take home income of $3,400 a month. I am not afraid to work, but don't want to do it for peanuts.
Your opinions are appreciated.
Honestly, yes you can. There are plenty of people that do. BUT DO NOT MAKE NO MISTAKE ABOUT IT, it is hard work. Lots of hard work, and you will need expendable money to do this. Especially if you want to replace your current income. Wanting to make sure you get that kind of money you will need your own store.
My advice to you is try the storage auction business PT, like on your days off (if you happened to be able to get days off during the week, there are very few auctions on Saturday, and have yet heard of one on Sundays).
This is not a business for the weak and timid, my meaning to this is. Do not think you are going to make money off of every single locker you buy, especially in this day of age and being new at it. I been doing the storage auction business for only a few months, although I been doing resells for a few years now, and I cant say I have a FT income. Although I work FT hours with loads of overtime.
I personally have been lucky, just about every locker I bought so far has had at least 2 or 3 collectibles. Only two of those have been big ticket items worth hundreds. Most stuff you will find is trash and general merchandise. The general merchandise you get most people have, so it will take time to sell, unless you have connections to get rid of stuff faster. Or you have your own store.
So yes you can replace your current income. But it will take alot of work, and most important, TIME.