Make Money from Storage Auctions

October 10, 2015 by  
Filed under How To, Spotlight

Make Money from Storage Auctions

Money is raining from the sky at those auctions.
You’re probably familiar with storage auctions by now. And maybe you’re one of the adventurous individuals that would like to make money from storage auctions.

It’s possible you’ve seen a  TV series called Storage Wars and thought to yourself, “heck, money is raining from the sky at those auctions.” If you’ve taken part in an auction you know the reality is not quite the same.

Hi, I’m Peter

And if you’ve read, “About Me” on this site, you may recall my mention of storage units. I have rented units for the past twenty years or so. In that time I’ve seen all kinds of units, tenants, facilities and dealt with all types of managers. I’ve also seen crazy money making schemes involving all of the above.

The summary to storage auctions is, “they will make you a ton of money and then again…they won’t.” You’re probably thinking, “just what the heck does all that mean?”

Storage units are rented by people in transition.
They are coming or going. Their life may be in a less-than-ideal place, due to divorce or bankruptcy, or a death. It may even be a down-sizing of their residence. That’s not all cases of course, but it’s definitely a lot of them.

There’s no guarantee you’ll make money from storage auctions.

The majority of storage units are full of life’s everyday junk.
People tend to lose sight of reality when their life is in a tailspin. They hang on to every stick of crappy furniture and plastic toy their kids ever played with. Maybe on some level it’s to stay connected with the life that spun out from under them.

Is there treasure in storage units?
Yes, it does happen. But I’ve never seen it happen as depicted on TV. Today I watched one episode, where they discovered what looked like $75,000 or more, in various mint condition collections etc. It was great to watch but realistic? ..umm, I don’t think so.

It can happen that you will find rare items.
The type of items that do well in a niche market. Things like rare coins or stamp collections. But even then, you will have to wade through 99 per cent garbage. And you have to still take that garbage as well. Handle and transport it.

You might make money from storage auctions or end up being a storage tenant yourself.

The reason I bring all of this up is to give you enough information to focus your energies. You may want to give auctions a try anyways. They are definitely fun. But keep your expectations in-check. Don’t gamble your mortgage payment on the hopes you’ll make a fortune.

Best of luck and collect well.

Peter
SmokinMonkey.com

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Make Cash collecting Coins

October 3, 2015 by  
Filed under Featured, Spotlight

Coin collecting has been referred to as the Hobby of Kings.
Different from money hoarding; collecting coins is an art form. One that can be traced back to the 14th century.

Today there are people all over the world that are involved in this activity. Of course some treat it simply as an ends-to-a-means. The plan being to make cash from collecting those coins as they rise is value.

Then there are the others. They are the collectors that feed from the excitement at getting their hands on old coins from different places.

There are many different kinds of coin collector. They can usually be distinguished by their ‘point of entry’ into this hobby. It’s a hobby that doesn’t require any specific skills so it follows that there are many ways to enter.

Informal Coin Collecting
Most coin collectors, especially the children, start out informally. They are laid-back collectors which do not have a specific goal in collecting coins. They might collect coins from different countries or from different time periods, with little intent of being serious about it.

Inquisitive Coin Collecting
Once the informal collector starts noticing the details of the coins, they become an inquisitive coin collector. This kind of collector won’t bother spending a lot of money to get coins. He merely wants to appreciate them. As this collection grows he will find it necessary to put them into albums.

Advanced Coin Collecting
An advanced coin collector will collect coins with a specific target in mind. He may want to collect coins from a certain nation or historical event. There are many tracks which coin collectors pursue when engaging in their hobby.

“These are just some of the approaches one can take when collecting coins”.

Coin Collecting According To Nation
Many collectors would want coins from a certain nation, during a certain period of time. This kind of collection lets the collector travel the globe through the coins. People may want to collect coins from countries they had visited.

Historical Coin Collection
Another way of collecting is by considering history. Many people collect coins from a set period, or event, in history like a war or declaration of independence.

Error Coins
There are the people who find coins with errors exciting. These are considered rare coins nowadays. And it’s that rarity that reserves this niche for the most determined collectors.

Collecting coins can be enjoyed by just about anyone nowadays.

There are many ways to collect coins or find coins for sale. Each way is just as enjoyable as the next. While this hobby might require some initial investment there are thankfully several entry levels. You will find that if you’re serious about it collecting coins is completely within reach.

Best of luck and collect well.

Peter
SmokinMonkey.com

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