5 Things No One Tells You About Storage Auctions
While there are some exceptions to this rule, most storage auctions only accept cash as payment for the winning bid. If you happen to bring your checkbook instead of cold hard cash, you may forfeit the unit to the next highest bidder. Don't make this mistake: always bring cash when attending a storage auction.
There are LOTS of Storage Auctions
Some people assume that storage auctions are few and far between. In reality, though, there are thousands of them, located in just about every major city. When a tenant doesn't pay his or her rent, the facility has the authority to auction off his or her property. So if there's a self-storage facility around your area, chances are it has auctions.
You Can Find Storage Auctions Through Lists
You can't expect to run a successful buy-sell storage auction business unless you know when and where those auctions are taking place. One option is to call around and ask the various self-storage facilities. But a second, more efficient option is to purchase a list, such as the one sold here at StorageAuctionList. We take the burden of finding storage auctions off your shoulders by revealing exactly when and where they take place. With this information in hand, you can spend more time attending auctions and growing your business, and less time trying to find storage auctions.
You Don't Need a Lot of Money to Start
Getting starting in the buy-sell storage auction business requires capital, like most businesses. However, you don't need a large sum of money to get started. If you have just a couple hundred dollars, you can easily join the ranks of seasoned auctioned hunters. Granted, your choice of storage units may be limited at first, but there are plenty of units that sell for just a couple hundred dollars at auction. And once you acquire one of these units, you can turn it for a profit; thus, increasing your capital while allowing you to bid on more expensive units.
Storage auctions are downright fun. If you've never participated in one before, you might be surprised to learn just how enjoyable the process is. From bidding to scouring the unit's contents, it's an exciting and thrilling experience that's unlike any other. Of course, the near-limitless earnings potential is another "fun" element associated with storage auctions, but that's just icing on the cake.