Can You Make a Living Buying Storage Units at Auction?

Storage units are a popular way for people to store their belongings. These spaces are typically rented out on a monthly basis, and they can be of any size. They are a good solution for people who need extra space for things like cars, furniture, and boxes of personal items.

Can You Make a Living Buying Storage Units?

One of the best ways to make a living from purchasing storage units is to bid on them at auctions. These auctions are held at various locations and can take place in person or online.

You can also buy units that have been leased out but are delinquent, which gives you the opportunity to turn them around and sell their contents at a profit. You may need to deal with the debt and liability of the previous owner, so it is important to learn about these issues before you start bidding.

If you decide to bid on these units, it is essential that you stick to your budget and don’t go overboard. This is especially true if you are just starting out, since you don’t want to lose money.

The Auction Process

Buying storage units at auction is not a straightforward process. You have to register with the storage facility, pay your bid, and meet a deadline to get the unit back and clean it out. This can be a stressful and time-consuming process, but it can be a great way to make extra cash.

Before you go to an auction, check the website of the facility to see what types of units are available for purchase. This will help you decide if it is a good opportunity for you.

Some storage facilities also hold periodic auctions for items that have been accumulated over the years, such as old books and clothing. These auctions can be a fun and profitable way to find items that are no longer in use, and you can often sell them for more than they were originally worth.

The Auctions Are All Over the Country

While you can find auctions in most areas, they are not always easy to locate. Some auctions don’t have a public presence, which makes it difficult to find out where they are located.

However, the internet makes it easier to search for these auctions and find them quickly. Some auctions also offer images of the contents, which can give you an idea of the potential value of the items.

It is a good idea to bring cash with you when you bid on storage units. This will ensure that you won’t have to worry about paying with a credit card.

You should also plan to have a truck with you at all times, as you will be required to haul away the units’ contents after winning them. This means that you will need to have a large enough vehicle to haul the units and their contents away, as well as a lock to prevent thieves from getting into the unit.