Make Money from Storage Auctions

October 10, 2015 by  
Filed under How To, Spotlight

Make Money from Storage Auctions

Money is raining from the sky at those auctions.
You’re probably familiar with storage auctions by now. And maybe you’re one of the adventurous individuals that would like to make money from storage auctions.

It’s possible you’ve seen a  TV series called Storage Wars and thought to yourself, “heck, money is raining from the sky at those auctions.” If you’ve taken part in an auction you know the reality is not quite the same.

Hi, I’m Peter

And if you’ve read, “About Me” on this site, you may recall my mention of storage units. I have rented units for the past twenty years or so. In that time I’ve seen all kinds of units, tenants, facilities and dealt with all types of managers. I’ve also seen crazy money making schemes involving all of the above.

The summary to storage auctions is, “they will make you a ton of money and then again…they won’t.” You’re probably thinking, “just what the heck does all that mean?”

Storage units are rented by people in transition.
They are coming or going. Their life may be in a less-than-ideal place, due to divorce or bankruptcy, or a death. It may even be a down-sizing of their residence. That’s not all cases of course, but it’s definitely a lot of them.

There’s no guarantee you’ll make money from storage auctions.

The majority of storage units are full of life’s everyday junk.
People tend to lose sight of reality when their life is in a tailspin. They hang on to every stick of crappy furniture and plastic toy their kids ever played with. Maybe on some level it’s to stay connected with the life that spun out from under them.

Is there treasure in storage units?
Yes, it does happen. But I’ve never seen it happen as depicted on TV. Today I watched one episode, where they discovered what looked like $75,000 or more, in various mint condition collections etc. It was great to watch but realistic? ..umm, I don’t think so.

It can happen that you will find rare items.
The type of items that do well in a niche market. Things like rare coins or stamp collections. But even then, you will have to wade through 99 per cent garbage. And you have to still take that garbage as well. Handle and transport it.

You might make money from storage auctions or end up being a storage tenant yourself.

The reason I bring all of this up is to give you enough information to focus your energies. You may want to give auctions a try anyways. They are definitely fun. But keep your expectations in-check. Don’t gamble your mortgage payment on the hopes you’ll make a fortune.

Best of luck and collect well.


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