Paying someone to bid at auction?

[jmillar]

Hi guys,

I'm having some issues at home but cannot afford to move out just yet unfortunately. To do so, I have to find a secondary income (around $400/week will cover what I need).

I used to buy and sell phones, motorbikes, laptops etc when I was in school so buying/selling goods is an option. I've also considered doing laboring jobs on the weekends.

Seeing as I work in the Real Estate industry (fully licensed REA, buyer's agent and auctioneer) I'm just wondering if there's a way I can use my passion for property to build up a secondary income.

I've seen Buyer's Agents offer services to bid at auctions for clients - just wondering if anyone has ever used this sort of service and what they generally charge? Do you think it's a commonly requested service?

If you have any other ideas for me, please feel free to throw them my way!

Thanks

 

[DaveM]

Are you licensed or only your employer

 

[Nixba]

Hi John

I'm sorry to hear that there at issues at home. I hope these work out for you for the best.

Can I provide a somewhat lateral viewpoint? May I suggest looking at ways in which you can further maximise your income at work? Working smarter not harder.I've found that to be more effective then trying to take on a 2nd job etc. Worth the thought.

N.

 

[moyjos]

One "outside the box" idea I have read on another forum.

A lady makes a decent sideline wage helping people who have their homes for sale by decluttering and selling "stuff" on eBay/Gumtree. She gets her clients directly off realestate.com.au by just looking for new listings in her area.

She comes with an angle of "you hate moving, get rid of some stuff and make money, and by getting rid of "stuff" you make the house look better for sale.
Anything she sells on eBay is split 50/50 with the owner.


Another idea(which I am not sure about) is "hire a garden". Takes property styling one step further. Lots of pot plants to style balconies, patios etc. apparently those long containers with and herbs in them work really well. Trees in pots at the front door are another nice touch.

Generally though, keep in mind that is it FAR easier to save a dollar than earn a dollar. So look for ways to trim your expenses but don't forget to bank it

 

[antistar]

Sorry to hear there are issues mate - hope nothing serious.

If circumstances allow I would say:
1. try to fix the issues at home (if fixable); and
2. still get a part time job on the weekends to strengthen up savings

Moving out will cost you a lot more than $400pw as you will have a whole lot of new expenses, need furniture etc. Also you will face a million new temptations by the new lifestyle at your age which can end up in $$ pouring out.

If you must you must but if it's a matter of something small (like swallowing your pride etc) perhaps consider the above for a few more years.

 

[tomlemke]

have you thought about moving into one of your ips, and then renting out the extra rooms?

 

[RPI]

You could offer a bidding service. They seem to do quite well.

 

[Jacque]

Seeing as I work in the Real Estate industry (fully licensed REA, buyer's agent and auctioneer) I'm just wondering if there's a way I can use my passion for property to build up a secondary income.

I've seen Buyer's Agents offer services to bid at auctions for clients - just wondering if anyone has ever used this sort of service and what they generally charge? Do you think it's a commonly requested service?

If you have any other ideas for me, please feel free to throw them my way!

Thanks

Hi John

I didn't know you now work in RE- when did that happen and what agency are you with?

Yes we offer bidding services however they are certainly not a common service and usually are for absentee/non-local/first time purchasers, and include those buyers who aren't used to/don't want to negotiate at PI time. Like auctioneers, you ideally need to have a lot of experience in the field before purchasers will engage your services here. There are easier ways to make $$$ as per other's posts, and I'm sure you will come up with something creative from the contributors to this thread so far. Agree with the others,however, in that moving out of home is likely to cost you more than $400 per week.

If buying/selling on Ebay/Gumtree is something you've done before in the past with success, why not give it another go? I love the idea of the de-clutterer lady from Moyjos' post- it takes organisation, storage and creativity but it can be done.

Best of luck with it all and I hope your situation at home improves soon

 

[jmillar]

Thanks for all the advice, everyone. I would love to remain at home as I would certainly advance my investing goals much quicker; however, there's no use holding 20 properties if I don't have my sanity. Mentors and successful people speak of "removing limiting factors" and "removing anything that weighs you down" - well living at home is the one thing that has limited me all my life, and I need to drop the weight ASAP.

I'll not only be happier, but will also be more effective at work, and I'll be a better person (which means more than being rich).

I won't go through and reply to everyone individually, but all posts have been taken into consideration - thanks.

Happy to hear any other suggestions...

Are you licensed or only your employer

Yes, I'm fully licensed Dave.

 

[Shaneelastic]

I was very lucky I had a great family and moved out when I wanted.

That said, I thhink sharing a house with a colleague or room mate or friend may be good at your age. I certainly would do it if I had my time over.