What people fail to realize most power adapters are X Voltage and X Amps - You don't have to buy a specific make/model - As long as you have the right voltage/amps/tip on it.

Normally, I have a universal adapter to test items out.

And that's how you make money. Having just a little bit more knowledge than the buyer puts you at an advantage. If you have an adapter to a product, and nobody else is selling it on eBay, you can pretty much ask whatever you want. Buyers buy for emotional reasons, not for logical reasons. If they go on eBay, looking for a power plug for their old Beta machine, and you have it, then they will think, "this is the only person who has it.. if I don't get it now, I may never get it".  Therefore, you can charge $40 for it, even if they could easily buy some other brand of plug that is the exact same.

Around here, we rarely had weekend auctions. The reason being, most of the buyers were selling at the flea market on the weekend.  Sunday auctions are almost unheard of.

It boils down to demographics...

What are demographics?

Well basically it’s the makeup of a population.

For example, if there are 3 auctions happening at the same time and one is in an area with a high median income, and the other two are in an area with a low median income, I will ALWAYS opt for the one in the high median income area.

It’s a matter of statistics.

Typically, in poor neighborhoods you will find trashy and unkempt units. On the other hand, in rich neighborhoods you will often find units of higher quality. Of course this is not always the case, but more often than not, it is.

People with money aren’t going to store their stuff in the ghetto, and poor people aren’t going to drive out of their way to store their garbage in a nice neighborhood that charges higher rent.

How do I get this information? Simple!

I use this ugly, but beautifully helpful, website called ZipWho.

Right now, let’s go to ZipWho and have a look. Once the page loads (I told you it was ugly), enter the zip code of an auction location in to the basic search box and hit “Basic Search”. You will be given some useful information on the right side.

The most important piece of information here is the “median income”.

If you don’t know, median income is basically taking all of the income for that zip code and finding the middle. Half of the people make more than that amount, and half of the people make less.

The important thing is, the higher the median income, the wealthier the population is… and the better odds that the lockers will contain high-end items.

As you can see, there is also some other useful information that you might find useful: percent of men and women, household size (if you need kid stuff), ethnicity (if you are targeting a specific customer), median age, etc.


All of this information is beneficial to you if you know how to use it!

Do you have a lot of Hispanic customers?

Maybe you should buy more units in predominantly Hispanic zip codes.

Do you have a lot of college students as customers, then check the median age for better odds of scoring a PlayStation or Xbox.

You will find lots of mattresses, furniture, clothes, and dirt.

Don't give away all the secrets. He'll start bidding you up on those awesome dirty mattress units, and leave you sleeping on the concrete.

I think it really depends on the individual. If you're a fool with your money, you're destined for failure in any venture. On the other hand, if you're a hard worker with a good head on your shoulders, you can make a living buying and reselling storage units. Are you going to get rich doing it? Probably not. But to me, the excitement and freedom we enjoy in this business is priceless.

I have to agree with you there. Don't be a fool with your money. I was, and it put me out of business. You can be successful for awhile, then make one stupid decision and ruin yourself. This applies to any business.

Also, like Cobia said, start with a lot of money. Like any business, you want to keep your overhead low, and focus on sales. There's a saying, you make money when you buy, which is true in the sense that you need to get the best deal possible to turn a profit. However, you truly only make money when you sell. If you can't sell your items, and you keep buying, eventually you'll be overwhelmed to a point where most people give up. If you really want to do this for a living, you need to be great at every end of the spectrum, or find a partner who can excel where you fall short.

But like Travis said, the business is probably the most exciting and rewarding thing I did in my life. The "rush" of going through a storage unit never goes away. Every time you buy one it's the same feeling you got about opening Christmas presents as a child. It's probably the closest thing to that feeling I have gotten as an adult. But then, it's time to get to work - not play.

I would invest in a warehouse. Almost anything else would lose you money over time. Property generally rises in value (with the exception of housing bubbles/crashes). Right now would be a great time to invest in property because values have to go back up eventually.

How do you suggest selling common items?  Do you have a store or do you use eBay?  I’ve never sold anything before.  That’s the part I’ll find the most difficult.

If you're interested, I'm giving away a free copy of my book @ http://StorageAuctionAuthority.com - there is more information in there than you need for just starting out, but if you want to do this full time as a business, it's the blueprint for you.  On a side note,it's done, I am just working on some other outside factors at the moment and should have it ready sometime in April.

You want to look for stuff that you know will sell. This includes tools, modern appliances, quality furniture, etc. Steer clear of garbage. Despite what the show portrays, most garbage units are just that. And no, there is no bar of gold in that pile of trash.