Cash is King

cash is kingMost storage facilities will only accept cash paid on the spot for won units, so make sure you remember to hit an ATM before you arrive at the facility. Storage units can start as low as $1 but those prices will usually increase rapidly, so the general consensus is to bring a minimum of $500. If you don’t have have the cash on hand for a unit you won, some facilities may allow you to leave a deposit with them and bring back the difference within business hours, but don’t count on it.

Also, remember that other expenses will be involved in attending storage auctions, like sales tax (in some cases), a cleaning deposit, waste disposal, travel, etc. Be sure to factor in all the potential costs before taking off!

To ensure that you don’t overbid, it’s a good idea to set a price cap you’re willing to spend on any given unit. If you see the price far exceeding your limit, step down and walk away. You don’t want to waste your money on the first unit you see, especially if you’re just starting out and you’re strapped for cash. What if the next unit is the unit of your dreams, and you’re out of cash? The question “Do you guys take credit?” doesn’t work here. Make sure you’re an educated buyer, and that you always always come prepared. It’s better to be safe than sorry.


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