With the popularity of shows such as the reality TV smash hit “Storage Wars“, more people are considering a full-time or part-time career as a storage buyer. Storage buyers are individuals who go to storage auctions that sell unpaid and abandon storage units by auctioning them off to the highest bidder. Prior to bidding on storage units, bidders are allowed to walk through the storage facility to take a quick glimpse at the contents of each storage unit. However during this quick glimpse, it is difficult to see the unit’s full contents, and most of the time bidders are not permitted to physically enter the storage units. If you are considering becoming a storage buyer there are a few questions you should ask yourself first.
Do You Have the Appropriate Knowledge, Tools, and Space?
Is important to know becoming a storage buyer will not be an overnight get-rich-quick plan but you can start small and work your way up. If it is a career choice you would like to seriously consider, first ask yourself if you have the knowledge, tools, and space required to do the job well. The knowledge would be the ability to spot antiques and memorabilia, even when only seeing a small portion of the items. If you purchased or bid on a storage locker without having the knowledge of valuable brands, memorabilia, and antiques you will have to invest additional fees to have the items you win appraised. As far as tools, you will need to ensure you have a vehicle large enough to transport the items you win. You also need the appropriate space to store your storage unit’s contents until you are able to resell them elsewhere. Keep in mind that some valuables will require a temperature controlled environment.
Are You Willing to Gamble with Your Money?
Becoming a storage buyer is in essence becoming a full-time gambler. Some units you bid on will have visible, valuable collectibles, while others may have something such as a vintage military storage locker that you place a high bid on in hopes that its contents are filled with military memorabilia. However, this is a [Read more…] about Should You Become a Storage Buyer?