The thing about bragging rights is that if you use them, you draw attention to yourself. If you score a big win at a storage auction, your inclination might be to shout it from the mountaintops, but here are some reasons you might want to curb your enthusiasm:
You Don’t Realize How Many Friends You Have Until…
Conventional wisdom says to be discreet if you come upon a windfall. You’ll need time to figure out what to do with the money. In fact, if you strike it really rich, you might even want to hire a financial adviser to help you with tax issues. An adviser will also walk you through your options, such as investments, so that your newfound wealth will last longer than it would if you went with your wildest spending dreams.
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What Kind of Person Stashes Cash in a Storage Unit? Oh, Right.
A buyer in San Jose found half a million dollars in cash. The auctioneer gave the sage advice to keep it on the DL. That amount of untraceable cash likely has shady origins in the black market. It’s wise to report such an influx of income to the IRS. As for reporting it to the police, you should contact an attorney first to find out about local laws about finding cash.
Have you ever seen a local news story about a convenience store that sold the winning lottery ticket? After that lucky event, business tends to flourish, at least until the excitement wears off. This is great for business owners, but in the context of storage auctions, it’s not so great. More bidders means higher prices as more people drive prices up. So, if you’re a seasoned buyer, you’ll be inclined to keep the bidding pool small.
Speaking of stampede, if you want to avoid possibly getting run over after hitting the jackpot, try online auctions from Storage Treasures.