Tag Archives: buying

Controversy over quitting job to buy storage units

Question from Robert in Washington

“You say that the third step to financial freedom is quitting your job. This seems like financial suicide right now. The last thing you should advise anyone to do in this crappy economy is quit their job. You’re just a third rate hack with bad advice.”

Answer:

Robert, I’m deducting the bonus points I gave you for reading the book for the fact that you did not phrase your email in the form of a question. Still, your comment deserves a response so here it goes. You’ll recall that I gave you permission in the book to do what is best for you, it’s not a hard and fast rule. I hope you’d agree with me that if you had the opportunity to work for yourself, that would be better than making someone else’s financial dreams come true. However, if your life circumstances, ie. you are broke, keep you in your job until you can get out of debt, save some money or whatever you need to do to start living a sane, financial life within your means, then by all means, stay at your job. Robert, I respectfully suggest you re-read the chapter on activating the Observer. If you can do this one thing, you will be the person answering the questions instead of some guy you don’t know from Adam. Hey, thanks for buying my book though and I hope you come back for the next one!
Sincerely,
Dirk

Who’ this Dirk? Read about Dirk

Email question about investing in storage units at auction

An email question I received, about buying storage units in Las Vegas.

First, I wanted to thank you for your awesome website!! The hubby and I were thinking of maybe buying a storage unit or two. We have been doing other sales on craigslist, but wanted to see if we can step it up a notch. I read your scammers beware part and we were thinking the same thing so were a little scared to get out there with our hard earned mu-la. I wanted to see if you happen to know if any companies that you have dealt with that you think we should stay away from? I know there is times when we have learned a lesson the hard way and I always share with friends when I do. We have five kids so we have plenty of crap of our own to sell all the time but with buying a storage unit here and there we are hoping to buy a house in this down market. Any help much appreciated. We will be heading out to the first auction this Saturday that I found in the announcements. Thanks for the link and tutorial.  –Sarah, Las Vegas

First off I would like to Thank you for your question.

Buying storage’s units is overall very safe venture, most of the time its only a few hundred dollars at risk. Storage units can go for almost anything, but bidding on what you can see is a money saving statement. The best way to look at it, is like this… At the time of bidding, if you where 100% ready to pay for what you could physically see inside the storage unit, “most of the time” there is not going to be a problem. It is when I here of someone overpaying when they see a big screen TV, or something they believe to be a “goldmine” is when you run into a problem. Gamble at your own risk.

I have been burned buy storage units, but the bottom-line is, it has only amounted to a few hundred dollars loss. I know the market for buying storage units is very competitive with it coming to TV.

My best advise is to: sit back and wait, your unit is coming up!

Fun Facts: Here is a list of items that are only worth about half of what you think they are worth.

  • TVs
  • Computers
  • Laptops
  • DVDs

Her Reply:

Sounds good! We do Dave Ramsey financial peace so Im very very patient 🙂 I have an eye for stuff my husband at first thought I was nutty but when he went a couple weeks with me not selling and saw how much I was bringing in selling on craigslist he jumped on board. We will be heading to our first storage auction tomorrow it should be interesting. We will probably just watch to see how it all works. I have to say I love the selling boxes idea I laughed today when I saw some in the dumpster behind Walgreen’s. I’m pissed about the storage wars thing and coupon thing on tlc I do both of those grrr.