Would it be very difficult to pay $1600 a month rent relying on only the the Goodwill bins?

[terrycece62]

That would be my concern @blurryrobot  

 if op is counting on only GW bins and the kind of items and items worth buying for resell.

 I would think that picking many different sources would be required unless the bins are extra nice unique and/or rare finds to make enough monthly to pay rent plus everything else to have a roof, food electricity, money for inventory - exc.

[blurryrobot]

Plus, Goodwill's bins are only as good as Goodwill's manager allows them to be, and that can change overnight.  Dangerous if dependent!

[wastingtime101]

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@blurryrobot wrote:

Plus, Goodwill's bins are only as good as Goodwill's manager allows them to be, and that can change overnight.  Dangerous if dependent!

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When it comes to both sourcing and selling, it's very risky to put all your eggs in one basket if it's your sole source of income.

[terrycece62]

I worked a work-study class first or second year of college over seeing 'sorting  workers' processing donations and a few years later volunteered at the thrift store as a clerk and can confirm that of course donations are pre-picked by resellers and what those resellers are selling you will never find on display in the stores.

items were held for resellers and workers on a regular basis.

[terrycece62]

Totally agree depends who is running the show

[chapeau-noir]

You could, but I wouldn't rely solely on one selling site to do it.  Also, prepare to work 12 hours a day 7 days a week.  If you don't mind doing that, you can do pretty much anything.

Since you're already experienced at selling and the bins, I think time and endurance to be your biggest considerations.  I would not get that storage unit right away, though - get that roof over your head and go from there.

I worked two jobs and sold online to pay off $80,000 worth of debt from a business bust - I worked 80 hour weeks with only an occasional day off. It was a lot of hustling and I live in an expensive area so my living expenses were higher, but I managed with diligence and organisation.

[evelyb30]

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@terrycece62 wrote:

Totally agree depends who is running the show

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The inmates, generally.  At Hoodwill, let's just say not to trust them.  The only good stuff that gets onto the floor or into the bin is there by mistake. I'm not even seeing Starbuck's mugs here any more.

One local children's charity thrift is unfortunately similar.  They let people who volunteer with the organization but NOT in the stores shop  before they're open, in full view of any customer waiting to get in.    It may be legal, but it's not a great way to induce loyalty.  

[chapeau-noir]

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@toysaver wrote:

Any thrifter/reseller worth their salt will not be paying rent but building equity with a mortgage.

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That's not realistic for many people.

[toomuchstuffagain35]

Not that Starbucks stuff is worth much anymore since China got in on the act.

There's so many fakes out there now, that the actual buy it in the store Starbucks stuff is WAY overpriced for what it is.

[evelyb30]

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@toomuchstuffagain35 wrote:

Not that Starbucks stuff is worth much anymore since China got in on the act.

There's so many fakes out there now, that the actual buy it in the store Starbucks stuff is WAY overpriced for what it is.

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Hence the reason I only buy them in thrifts or at rummage/tag/estate sales.  Some of the older mugs were good quality. Anyone buying for resale shouldn't bother except for a few rare exceptions.  

[yuzuha]

Yes, because you're reliant entirely on what happens to get donated that month. One month you might find a ton of great stuff that will net good money and/or sell quickly, and the next month might be nothing but duds or stuff that will probably take a year or two to sell.

[soh.maryl]

This particular thrifter/reseller was homeless a very short time ago.  

Where do you figure they would get the down payment and closing costs?

There is more to home buying than "building equity with a mortgage".

[toomuchstuffagain35]

Not to mention that pesky credit score thing.

[mtgraves7984]

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@toomuchstuffagain35 wrote:

Not to mention that pesky credit score thing.

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Of course, now those with bad credit scores are getting better mortgage rates than those with good credit scores. Effective today. 😐

[luckythewinner]

Would it be very difficult to pay $1600 a month rent relying on only the the Goodwill bins?

Goodwill stores all around the country are different. But I would say it would be extremely difficult.