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Old 03-08-2013
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Default This is why I buy estates and houses full of items

After you understand this story you will understand why I bid, buy or try to get as many as these types of estates as I can find.

I buy what is not attached to the house. The household items or anything that is loose on the property. I have a pre made attorneys agreement to make sure I am protected and get what I pay for.

Example is recently purchased an estate, meaning I bought the entire contents of the home, garage, basement, yard etc. Everything loose included antiques, furniture, collectibles, appliances, etc. We are working a couple hours a day clearing it out and getting the better stuff out asap. In it was hidden jewelry, coins, foreign money, stocks certs etc we did not even see when we went though the house to make a list to know what to offer the family. House is full of antiques, collectibles and antique furniture etc.

We have already sold the loose block around the garage that was intended for a garage add on ($$$), a brand new craftsman riding mower, I have a guy who buys all of the appliances and non antique type furniture and he came to get all of that.

We rent a rolling dumpster and dump everything that we do not want that cannot be sold or donated. Usable items that we dont want to sell are donated to goodwill and we get a tax deduction for donating it.

In most house like this there are hidden gems. In this one coffee cans full of old coins, stocks, foreign currency, vintage jewelry, a couple cool pocket watches.

The example below is what puts a pit in my stomach as I have bought over the years a few estates that had some high end items in it. Not 30m worth but when you buy the entire estate and later find 10 things that pays for your entire purchase then the rest is pure profit.

This story is amazing.

Arthur Pinajian Art Worth $30 Million Found In Garage And More Arts News
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Old 03-08-2013
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not sure if it was this one but saw something similar on the news yesterday. have a group of friends who want to start this venture
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With boomers retiring at record numbers and parents getting old I am finding more and more of these.

I give my business card out at antique auctions etc just for this reason.

Got anything to sell? Call me.

What I am finding out is the kids want certain things out of the house and dont want to mess with cleaning the items out. They only want the money from the real estate and cannot sell it with items inside and not re painted, cleaned up etc.

Saddens me that parents raise these kids and the kids dont want anything left in the house at all, this last one the kids came in took the pictures and a few other things and said the rest is yours. I found a picture album of the kids when they were babies in a closet, called one of them up and they said "toss it, we dont want them" so I called the second one and she said "I dont want them call one of my brothers". I found a hand made quilt that was in one of those adorable pictures with the daughter in it and she still did not want the quilt or the pictures.

I usually make an offer based on the contents but this last one the kids said give me xxxxx and everything is yours except for the RE. Easy purchase.

Have your friends get an agreement drawn up and take lots of video and pictures as I have had some members come back into the house and take valuable items after I had paid and that wont happen. They could kill your profit easily.
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SandY! I heard about that story -ridiculous but yes, if you have the time - get it on it.
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I give you credit Sandy, that's hard work. I'm sure it is possible.

I've bought and sold houses so same situation. It's amazing what people leave. You say to yourself, "OMG, why would someone leave something so valuable behind?"

I've contacted the previous owners kids and told them their were personal photos, nick knacks, that I rightfully owned but was willing to let them have for free.

I always got the same response, "toss it."
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When all said and done we will make 25-30k.

We take all the goodies out, we have an appliance guy who pays and comes and gets all the heavy appliances himself out and a furniture guy who does the same with the furniture we dont want.

Once we take out everything of value we have a connection for a lady and daughter who comes in and dumps what is left into the dumpster and cleans the house up, like vacuum, clean the house up so it can be ready for painting etc. We dont leave the house a mess like some do.

Most hard work is done by others. We just take the goodies out and take them to the warehouse.
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Default Re: This is why I buy estates and houses full of items

When you act professional, people will want to deal with you and give you those extra jobs. Its always good to be smart and it doesnt hurt to be decent
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Agree 100%

We want the house cleaned up for them so they can bring in a realtor and get it ready to sell.

You do not know how many clients we have got from people like these people who were overly happy we cleaned up their house and gave us connections for other estates or items people want to sell.

Even though we hired it done it looked good on us and made them very happy.
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I was thinking of hitting some yard sales this spring/summer to look for inventory, but this sounds promising - thanks !
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Great idea, I only wish I had the cash flow to seriously consider this. Well done Sandy!
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Buying the estate itself is the only way to go. I do a couple every summer. You could buy 10 estates and easily make your money back and a little profit. But you only need that one hidden gem and it makes it all worth it, which is why I continue to do it. Garage sales are ok, storage lockers are a joke, and estate sales is bank.
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My grandfather bought many estates and always made a ton of money on them.

He has his pad and pencil and wrote everything he knew he could flip real quick down and made offers based on the very best stuff and did not include all the smalls and other items. He then paid a couple guys to come in and take out everything he did not want to mess with. Ran all that back through auction houses and only touched the better stuff.

I remember he bought an estate and paid 3,000 for everything in the house and when I questioned him he said his return will be not just on the antiques but it will be on the stack of locust post that was sitting behind the shed out back. I remember laughing because I knew he was an antique guy. I did not laugh long when someone showed up and handed him 2500 for all the locust post and he had 500.00 in the entire house full of goodies.

Most wont know this, I know GB does but Lalique glass is high end fantastic stuff, well sought after. This house had 50 or so pieces of that glass alone.

He taught me a lot. Remember being around 8-9 years old and wondered why are we sitting with a bunch of old people in a yard of a house? The auction stated and next thing I know he had a pile of stuff piled all around us.

Estates can be a gold mind if you can get into one. Many people dont want to mess with it and many send their stuff to an auction house who charges 30% plus pickup fees.

I get a pit in my stomach going back into the house and finding hidden little gems inside coffee cans, shoe boxes etc.

The pocket watches I got from the last one so far have turned out to be gems and I have a few more to research.

Cant believe I am actually selling concrete blocks.....

Not me but it paid off and I did not have to move a finger.
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Remember, everything has a value to someone.

Dont forget that.
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Quote:
Originally Posted by km018 View Post
Great idea, I only wish I had the cash flow to seriously consider this. Well done Sandy!
Start off with local flea markets.

With Spring & then Summer coming for the USA/Canada, people are getting over cabin fever. They think of disposing of 'goods'.

In the early 2000s, we lived on the TX/LA border. Was a treasure trove IF you went looking. Later we were based in WA. Still had similar chances.

Go look. Train yourself for 'bargains.

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Still visit WA GB?
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Default Re: This is why I buy estates and houses full of items

Quote:
Originally Posted by GreenBean™ View Post
Start off with local flea markets.

With Spring & then Summer coming for the USA/Canada, people are getting over cabin fever. They think of disposing of 'goods'.

In the early 2000s, we lived on the TX/LA border. Was a treasure trove IF you went looking. Later we were based in WA. Still had similar chances.

Go look. Train yourself for 'bargains.

Amen. Everyone that is big started somewhere . Dell used to make computers in his garage. Start small and fight and u have a good chance to make something of it
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Thread reminded me of an earlier one

http://www.aspkin.com/forums/subscri...ate-sales.html

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Old 03-19-2013
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Quote:
Originally Posted by slim jim View Post
Amen. Everyone that is big started somewhere . Dell used to make computers in his garage. Start small and fight and u have a good chance to make something of it
If i remember correctly...michael dell made computers at school in his dorm (ut austin)
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Quote:
Originally Posted by nobody999 View Post
If i remember correctly...michael dell made computers at school in his dorm (ut austin)
and steve jobs made apple in his parents garage. most successful people didnt follow the standard "recommended" path most people embark in their life.
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Old 03-20-2013
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Default Re: This is why I buy estates and houses full of items

Quote:
Originally Posted by nobody999 View Post
If i remember correctly...michael dell made computers at school in his dorm (ut austin)
Started in his parents garage and continued when he moved to the dorm
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Old 04-25-2013
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Networking is important folks.

I pass my card out to everyone I can, at yard sales, garage sales, auctions, estate sales, tag sales, CL customers etc.

I tell people if it is for sale I am interested.

I have another estate lined up to go look at. House has sat for almost a year because of family fighting over estate and wills etc.

This one is one I will have to get an attorney involved with but it sounds like the house is full of great antiques, furniture etc.

People cannot call you if you dont let them know you are a big buyer and dont know your name and number.
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Old 04-27-2013
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I would presume this would only work if you have a team. 1 or two people, can't go to a house, buy it up, clean the items up and list them individually on eBay. It would take decades to do. You'd need a team that would come in, sort out the items, get inventory, take photographs, list them and sell them.
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