Storage Auction

Nirvana

I must admit it…I found my Nirvana!! Nirvana is described as Perfect Peace and Happiness, and I FOUND IT at the St. Augustine Florida Flea Market!!!! Before someone calls in the Doctors and Psychiatrists, let it be known, that I have a Junking Habit!!!! I Love the stuff!!  I Love collecting it. I Love selling it!  I Love looking it over! I Love making decisions about what I can do with the Junk; what I can make with the Junk; what I …

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Why Storage Auctions are a Good Investment

Participating in storage auctions is a smart investment that will almost certainly pay off in the long run. Whether you’re looking to start a new career or just earn some extra cash on the side, it will help you achieve these goals and more. How Storage Auctions Work Storage auctions work on the principle of auctioning off the contents of abandoned, delinquent self-storage units. When you rent a storage unit, you typically sign a contract in which you agree to …

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Things to Know Before Attending a Storage Auction

Where is the Self-Storage Facility Located? I know this probably sounds like common sense, but it’s still worth mentioning that you should identify the address of a self-storage facility. Blindly driving to where you “think” the auction will be held is a recipe for disaster. So, find the street address of the facility and use Google Maps or your preferred GPS/navigation service to find turn-by-turn directions. If the facility is a long ways away, you may want to choose other, …

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Top Tips To Maximize Your Storage Auction Profits

The business of buying and selling the contents of abandoned self-storage units can be incredibly lucrative and self-rewarding. But like most businesses, there’s no guarantee of success, which is why it’s important for newcomers to familiarize themselves with the ins and outs of this trade. Following the tips listed below will help you maximize your profits while increasing your chances of establishing a successful, long-lasting business. Diversify Your Business Don’t place all of your eggs in a single basket. To …

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Choosing The Right Date To Attend a Storage Auction

Don’t underestimate the importance of choosing the right date when attending a storage auction. If you live in a densely populated suburban area, auctions will likely be held on every day of the week, opened up more opportunities to expand and grow your business. But just because you can attend a storage auction doesn’t necessarily mean that you should. So, how do you know which day of the week to attend a storage auction? Once you’ve acquired some experience in …

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What Should I Wear to a Storage Auction?

Newcomers to the storage auction business often wonder what they should wear. While there’s no dress code — not at any of the auctions I’ve attended at least — there are a few basic rules you’ll want to follow when choosing your clothes. Familiarizing yourself with these rules will give you the upper hand, streamlining the process of bidding on abandoned auctions, cleaning them out, and reselling the valuables. Comfortable Shoes A good pair of shoes will go a long …

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Dealing With Competition at Storage Auctions

Storage auctions have become increasingly popular in the wake of hit reality TV shows like Storage Hunters. And when people show up to these auctions, it leads to more competition. But competition isn’t necessarily a bad thing, especially if you know how to deal with it. Like all markets, storage auctions will balance out, with some of the competition going away. However, you can further increase your chances of success by following the tips outlined below. Don’t Get Into Bidding …

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Tips on Cleaning Out a Storage Unit After Auction

If you plan on participating in a storage auction, you need to be prepared to clean out the unit afterwards. Beginners often assume they can pick and choose what they want to keep, leaving the trash behind for the storage facility to clean up. If you read the fine print in the storage auction’s terms and conditions, however, you’ll likely find that most facilities require the winning bidder to clean everything out of the unit within a 24-48 hour period. …

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How To Take Your Buy-Sell Storage Biz To The Next Level

Still struggling to turn a profit with your buy-and-sell storage auction business? Like all businesses, there’s no guarantee of success. It takes time, patience, dedication and a clear strategy to reap the financial rewards this industry has to offer. With that said, we have some simple tips that are sure to help you turn a profit with your business. Don’t Get Into Bidding Wars One of the biggest (and most costly) mistakes newcomers make is getting into bidding wars with …

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Maryland Considers New Storage Auction Law

The Maryland House of Delegates is considering a new bill that would change the current requirements for the state’s the storage auctions. Maryland House Bill 786’s primary objective is to remove the requirement that self-storage facilities must advertise their auctions in the newspaper. Like many other states, Maryland currently requires all storage units to advertise their auctions in a a general circulated newspaper within the same area in which the auction will take, within 3 days of the auction. Failure …

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Storage Auction Etiquette: What You Should Know

Attending a storage unit auction for the first time can be daunting, and oftentimes confusing, experience. You must know the written rules, as well as the unwritten rules, to succeed in this competitive business. The written rules are relatively easy to obtain and can be usually be acquired through the self-storage facility’s front office; it’s the unwritten rules that typically go unnoticed. This week, we’re going to dive into this subject by revealing the unwritten etiquette of storage auctions. Only …

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Storage Auction Bidding Strategies: What You Should Know

Bidding is a critical element in determining the success of a storage auction business. You must know know when, how, and what to bid in order to succeed in this highly competitive business. Calling out a dollar amount higher than the previous bidder is a recipe for failure. It may work on occasion, but nine out of ten times this tactic will drain your wallet without giving you anything to show for it. Don’t Let Your Emotions Cloud Cloud Your …

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Avoid Nightmare Storage Units

Halloween is tomorrow! How did that happen and where did the rest of October go? While children wait all year long to go out searching for treats door to door, as a storage auction hunter you regularly go trick or treating, going door to door at each storage auction, waiting for the door to open and anticipating how much loot you’ll walk away with. Each storage unit auction you attend is a toss up. Some units contain your favorite treats, …

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Find Cash in Unexpected Places

As a storage auction hunter, you spend most of your time visiting the ATM closest the the self storage facility to grab cash before the storage unit auction. You need cash to bid on the storage unit, and you need enough money to cover any additional fees. Deposit Fees Fees will normally include a cleaning deposit fee, to ensure that you completely clean out the unit that you’ve won, within the 24-48 hour window of time, as determined by the …

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Money Saving Bid Strategies

Are you just jumping in to the storage unit auction hunting business? Are you looking at your Storage Unit Auction List listing page and trying to determine which auctions you should attend and when you’ll be able to buy units for the lowest amount possible? The bad news is that there is no one specific science to attending storage auctions. The good news is that we have a few tips and bidding strategies that will help you become a successful …

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Easy As ABC…Part 3

This week, we’ve sent you Back To School With SUAL! If you’ve been following along with the blog, we’ve been working through the alphabet providing you with phrases and information that you need to be successful at storage auctions! This list will help you start making money faster! In this segment, there were so many great phrases that we had to double up on some letters to cram it all in! eat: The better the unit has been organized and kept, …

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As Easy as ABC…

In the spirit of going Back To School With SUAL, this week, we’ll be covering information for beginning auction hunters, working our way through the alphabet each day! uctioneer-The auctioneer acts as the master of ceremonies for the auction. The auctioneer is often responsible for registering attendees, hosting the auction, enforcing the rules of the auction, driving up the bid, and keeping the crowd entertained and engaged with their auction chant. Many auctioneers are required to be certified, and often …

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Public Storage Founder and Self Storage Billionaire Issues IPO for American Homes 4 Rent REIT

B. Wayne Hughes,billionaire who founded self-storage real estate investment trust (REIT) Public Storage Inc., led his newest venture, American Homes 4 Rent, into an initial public offering on Wednesday, selling 44.1 million shares and raising $705.9 million. The Hughes-led REIT is the second largest company in the United States homes-for-rent marketing, with nearly 18,000 properties. American Homes 4 Rent owns properties in 41 markets covering 21 states. Hughes’ experience with Public Storage should make this publicly traded REIT attractive to …

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Storage Wars: New York is Back!

Season 2 of Storage Wars: New York recently kicked off and I’m bringing you a recap on the premiere episode. I had forgotten how much I loved the cast!  Original Productions and A&E did a fantastic job of handpicking castmembers that ooze New York City personality and a distinctive New York City charm. In case you missed my Season 1 premiere recap, let me give you the 411 now on the colorful characters. Meet The Cast Candy and Courtney Candy …

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Take A Break With Storage Unit Auction List!

Treat Your Self It’s Friday and everyone deserves to take a break on Friday mornings, right? Whether you’re standing in front of the water cooler, still in your pajamas, or heading to your next storage auction! That’s why we’ve rounded up some of our favorite videos, and news stories of the week that will make you smile. So treat yourself, and take a few minutes to read, belly laugh, and then share the wealth! Want to Work for Sparefoot? Check …

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Weekly Webinar Topic:Discovering the Competition, Developing Bidding Strategies, & Determining Unit Worth

So far, the webinars have been a huge success! In our debut webinar, I teamed up with Ryan Beierlein, Vice President of Operations to review Storage Unit Auction List Features and Tools and how to best use these for finding auctions and improving your resale business. Last week, Sarah Swan, our Operations Manager took a turn in the big black webinar recording swivel chair and we brought you information on auction basics. We covered information for new comers such as …

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