How to Make Money Buying Abandoned Storage Units

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Posted on 07/20/2011

If you’ve ever caught Storage Wars or Auction Hunters, then you know a lot of money can be made buying abandoned storage units. The stars of those reality shows on A & E and Spike don’t know much about what they’re buying, but often they end up with valuable treasures that they can resell. If you like the idea of taking a risk that may pay off big time then check out these tips on how to make money buying abandoned storage units.


Check for Local Listings - Storage facilities are required by law to announce their auctions publicly. This is often done in local newspapers’ classifieds section. Keep an eye out for these listings and you’ll know exactly where to go to enter your bid. You can also search listings through websites like StorageAuction.net.


Contact the Storage Unit - The storage unit owner may have additional information on the upcoming auction. Confirm the time of the event and the location. Also find out how many units are going on the auction block and what attendance has been like at past events.


Show Up Early - With the popularity of reality shows surrounding storage unit auctions, interest has swelled. Get there early so you have plenty of time to scope out the competition and the goods.


Carry Cash - Most storage unit facilities require winning bids to be paid for in cash on the spot. Bring enough cash to purchase your unit of choice or you may not be able to buy.


Bid to Your Comfort Level - For a newbie, auctions can be a little scary. Don’t get caught up in the excitement of bidding and end up spending more than you’re comfortable with. Instead bid according to your budget. And keep in mind that the winning bidder gets whatever is inside the locker. It could be junk or it could be a valuable treasure.


Make Plans for Removal - Experts say most storage units require that winning bidders remove their new belongings within 24 hours. That’s not much time when you’ve got a stuffed storage locker on your hands. Make plans for removal ahead of the time so that you can sort through your new stuff and hopefully be on your way to making extra cash quickly.


By Alison Storm


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