Pre-Auction Planning Chapter 4

Chapter 4

Pre-Auction Planning

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Finding & Evaluating Public Storage Auctions

Basically there are three types of storage units:

1. The Standard Storage Unit…

The standard unit with typically a roll-up type door.

These vary in sizes from as small as 4’x4’ to some large enough to accommodate a fire truck. Typically when these units go up for auction, the locks are broken, the door is opened, and then the entire contents are sold to the highest bidder.(refer to picture below)

2. Storage Pods…

A large crate with a rollup garage door.

Varying in sizes these are typically delivered to your home for you to stow your items and then picked up by a truck and delivered to a large climate-controlled warehouse and stacked until the renter needs them. Often when these units go up for auction, the pods are lined up in the warehouse. The locks are broken and the door is opened, and then the entire contents are sold to the highest bidder. .

Important Considerations to Make Your Auction Easier & More Profitable chapter 3

Chapter 3

Important Considerations to Make

Your Auction Easier & More Profitable

Be prepared. It is extremely important that you prepare yourself with information and tools needed before you attend an auction. A little preparation before you attend an auction will avoid common problems and insure your efforts success.

Pre-Auction Checklist

Equipment/Working Supplies Needed

1. Computer, Internet Connection–for researching auction listings, inventory and internet sales.

2. Digital Camera–for photographing and marketing your winnings on eBay and Craig’s list. Tripod–Essential for taking great photographs.

3. Padlocks–Good quality to secure won units until removal.

4. Flashlight–To see valuable items which are normally hidden or in the back.

5. Moving Boxes–for smaller valuables to take with you.

6. Gloves–For sanitary reasons.

7. Jewelers Loupe-for researching small items such as figurines and jewelry.

8. Magnifying Glass–for researching china porcelain, figurines and deteriorated labels and trading cards as well as historic documents.

Shipping/Packing Material

1. Packing Tape & Fill Material–for sealing shipment and preventing shipping damage.

2. Shipping Labels–

3. Boxes for shipping out sold items

IMPORTANT–Free Shipping Boxes: USPS Priority Mail website currently has FREE shipping supplies for customers who use their service (http://www.usps.com)

Additional Pre-Auction Considerations

1. Space to store winnings–

2. Truck or trailer– Makes hauling much easier rater than multiple car trips. (Find out rental costs of truck as that will help meet budget requirements.)

3. Cash–Most self storage companies require you to pay in cash–$How Much cash???

Finding Self-Storage Auctions Chapter 2

Chapter 2

Finding Self-Storage Auctions

State law requires notification of public auctions…

State laws vary; however, self storage managers are obligated to inform the public of the names of the people who have defaulted on their rent obligations and storage units to be placed at auction at said address, time and location. Check your local paper classifieds, web-based local papers and auctioneers for listings of impending public auctions:

1. CHECK– Notice of Sale, Public Notice or Sections of Classified Ads in Your Local Newspapers…

2. CHECK– Internet Resources

Browse for Public Auctions by your state and Zip Code. Check local papers on-line or contact storage facilities directly. Many southern states list upcoming auctions on the internet.

3. CONTACT– Local Auctioneers

Fact: Many auctioneers make a percentage of the auction. They want you there. The more people, the more successful the auction. Some will even place you on their mailing list and advise you when their next auctions will be held.

(NOTE: When you attend your first auction, ask the auctioneer to place you on their mailing list to advise you of upcoming auctions.)

4. CONTACT – Storage Units Manager …

Prior to attending auction as sometimes renters will pay up their back rent before the auction.

• Ask about the terms of payment and the time you have to vacate your winnings or whether they require cash or accept credit cards. Most require a cash payment.

• Ask about size of units that fit your storage needs. You may want to rent a unit to store your winnings.

Everything You Need to Know About Self-Storage Auctions

Chapter 1

Everything You Need to Know About

Self-Storage Auctions

People falling on hard times because of job loss, forced relocation, or for whatever reasons, place their valuables in public storage facilities. Complete inventory from failed businesses are sometimes placed in storage. Occasionally, renters default without paying storage fees, and public storage managers are forced to recover costs and free up the unit for another renter. They do this through public self-storage auctions.

A profitable business for teenager, retiree or entrepreneur...

This is not mail order marketing /multi-level marketing. This business will make money for everyone from teenagers looking to make money for the summer months off school to retirees looking to make a few bucks to supplement the shortcomings of social security.

There is another avenue to make money. Very little investment is needed to get started. The main thing is once you start, don’t stop. Keep your investment capital available.

Thousands of units go into default every day…

There are thousands of storage units going into default every day. Some sell for as little as one dollar. You can make a great supplemental income; it’s like a deep sea treasure hunt without getting wet.

The purpose of this book is to teach you how to find self-storage auctions in your area, how to evaluate auctions units, and how to get the most profit from marketing your winnings.

The inside secrets to finding and profiting from self storage auctions

I have decided to give you all the information in my book for free...

If you find the information is of value to you please make a donation to my PayPal account

kaleolson@lycos.com ...................................Thank you for your contributions.

Self Storage Auctions

Auction Stories

Does anyone have any self storage auction stories to share?



I have one. I was at an auction in Melbourne Florida one of the units I bid on and won for $65 had decent furniture not great furniture but I sold it at a garage sale for a couple of hundred. anyway, buried in the front of the unit was a collection of Beatles collector Items about 5 large totes from someone that must have dealt in Beatles collectibles every piece was price marked also buried in the front of the unit was a large Coca cola collection. That was a great unit!