Storage Auctions: Time is Money

watch_stopwatch_262546_lWhen it comes to running a successful buy-sell storage auction business, time is money. The sooner you clear out a unit, the sooner you can move on to the next unit. Unfortunately, many newcomers to this industry drag their feet, assuming they have all the time in the day. As a result, they are restricting to participating in just a few auctions, limiting their profits. This is why it's critical that storage auction hunters work fast so they can move on to the next unit.

Find Directions to Self-Storage Facilities

There's nothing more frustrating than heading out to attend a storage auction, only to get lost in an unfamiliar city or county. If you've been in the business long enough, you're bound to encounter this problem at some point in time. Rather than blindly driving to a new self-storage facility and "hoping" that you make it there, plan your route ahead of time. You can pull up turn-by-turn directions using Google Maps. This, combined with a GPS app on your smartphone, should allow you to reach the storage facility without any problems.

Choose Local Self-Storage Facilities

According to some estimates, there are more than 2.35 billion square feet of self-storage space in the U.S. With so many different self-storage facilities, you should selectively choose the right ones for auctions. Driving several hours just to reach a facility is usually a waste of time, unless you know for certain that it has valuable units up for auction. A smarter approach that will save you both time and money is to choose self-storage facilities that are within a reasonable driving distance from your home. Doing so will allow you to attend more auctions in less time, which of course means more money in your pockets.

Bring Cash

An all-too-common mistake made by newcomers to this industry is failure to bring cash when attending a storage auction. 99% of self-storage facilities in the U.S. only accept cash as a form of payment for auctions. If you happen to leave your cash at home, you could be forced to drive back home to retrieve it before the auctioneer will allow you to take the items. Having to take another round trip back to your home saps valuable time out of your day -- time that could be spent attending other auctions and/or selling the contents of your units.

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