Posted by Ronald * Starr(in no CA) on July 22, 2002 at 23:48:48:
Sam–+++±---------------
Real Estate is not a good way to make quick money easily. Yes, you can make a lot of money with real estate. But, in my opinion, it takes much study to do it well. While Carleton Sheets would like you to believe that all you need to do is buy his course, that is a minimal amount of education, I would guess, never having seen his home study course.
If you need to make quick money, here is a formula you might want to work:
Look for self-storage warehouse auctions. People and companies store their things in the little mini-warehouse spaces and then can not pay their rent. The warehouse operators sell off the contents to the highest bidder. You can sometimes get thousands of dollars of goods for less than $200, sometimes for less than $10. I was at one sale where you could have bought a stove and refrigerator–which looked nice–for a dollar! Just have to haul it away.
Then you go out to the flea markets and sell stuff off. Larger, more expensive items such as furniture, take home with you and sell with advertisements in the local free classified shoppers.
At some storage places, you might be able to rent the locker from them and leave the stuff there, pulling it out over time as you can sell it off.
To learn about the sales, check for a “legal newspaper” in your area, that prints stories for attorneys and the legal notices and advertisements for lawsuits, foreclosures, and so on. Or call around to the local mini-storage facilities and ask them when they have sales coming up. And where they advertise their sales. One storage place here in Oakland, CA, used to call me up to alert me to their sales.
Not all storage places are good. One I went to pulled the stuff out and auctioned it off bit by bit. Too much time, too high of prices.
This is how I got my gold and silver investments, found them in a storage locker whose contents I bought. Of course it is one coin each, but hey, that’s all of my gold and silver investment. Give me real estate. Hmm, a sign: “I take unwanted real estate off your hands.” Might it work?
Obviously time to head for home.
This is one of the major sources for the items that the fleamarketeers sell.
It is like Christmas as a kid to dig through the piles and boxes and find out what you bought for low cost.
Once I got back more than I paid for one locker just selling one IBM selectric typewriter. And I had gobs of other stuff to sell.
If you do this, you probably will be making about $60 to 120 a day at the flea market. Sometimes even more.
Then, study up on real estate investing for some months so you know somewhat about waht you are doing before you try it. The sales skills you learn at the flea market will help you when you become a real estate investor.
Good InvestingRon Starr*