So if you\’re interested in making money in the storage unit auction business,it is important to know what you are doing. You can unquestionably go out and make money with self-storage auctions, But you\’ll need to be aware of several pitfalls. To help make sure you see a profit, please continue reading on for a few helpful tips.

DON\’T go unprepared. There\’s typically a phone number for the facility hosting the self stoage auction. Call and find out in advance exactly what you\’ll need. Most likely, cash will be the only accepted means of payment. Find out from the facilitator if bidders are welcome to come early for a preview. Find out exactly what if any additional fees are required in order to participate.

DO anticipate on winning a storage unit, even if you don\’t. That way you\’ll be prepared to remove all the contents within the required time limits. For that reason, it may be best to arrive with a truck or a van. At the very least, bring a padlock to secure the unit until you are able to return.

Now, if you\’re the owner of the stuff and are hoping to buy your own stuff back, don\’t do it. If you are behind on your bill and find that your items are being sold, consult with the owner right away. In most casses the facility will postpone the auction for an hour or so in order to give you time to pay your past due amount.

Occasionally you\’ll be bidding on sealed units or bins, don\’t bid more than $100 on those ever. Yes, you may walk away with a lot of valuables, But you also need totake into account that people store some realtrash in those things, even boxes and boxes of documents.They\’l under no circumstances let you walk inside the unit, but you will be able to get at least a good look at the contents in a walk by.

You\’ll also have to be aware of indicators of a huge hit or a home run. This can also give you a good bid idea of how much to bid. Look for storage units that are packed full, filled with home appliances, furniture, name brand products, and antiques, especially if your reselling it at your resale store.

Set a limit on your bidding. It\’s very easy to let your ego take over your decision on whether to bid higher at these auctions. Don\’t let your emotions get caught up in the competition, this is a business, it suck to lose, but better than giving your money away. Keep in mind, there are hundreds of these auctions in your area.

It\’s in the reselling of these items that you make your money. Be creative in the ways you decide to sell the items. Do you have a lot of poor quality or stained clothes? Cut up the clothes to create scraps for sewing. Quilters will buy them buy the box load. Do you have a damaged piece of furniture? Give it your best shot to repair it before tossing it out.

DON\’T pay to dispose of merchandise, you can give away for free or donate to a charity. Bear in mind your main goal is to make a profit. This requires limiting your expenses, including trash removal costs.

Remember there\’s plenty ways to resell the items that you got out of the unit. You could certainly conduct a garage or yard sale, but there\’s more possibilities too. Many successfully use yard sales, flea markets, online classified ads, newspaper classified ads, and eBay to make a profit from the buying and reselling of self-storage auction merchandise and you can too.

Never give up on the concept simply because you\’ve gotten one or two bad units. So, you spent a few bucks to find out that there\’s nothing of any value in a unit? That\’s not the end of the world, don\’t let it discourage you from bidding again.It\’s all about persistence and consistency if you\’re planning on making money.

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Category: Advice
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