How do I buy abandoned storage units?

Since sorting and selling the items in an abandoned unit is time-intensive, storage facilities simply auction the units off to random buyers. You can find live auctions in your area and attend them in person, or bid online through one of the popular auction sites.

Can you auction a storage unit?

You can bid on abandoned storage units either onsite or online with participating companies. National Storage holds occasional online storage unit auctions with iBidOnStorage.

Are storage unit auctions worth it?

Generally speaking, it won’t, Arizona auctioneer Casey Jones said. Like most things, the “reality” you see on Storage Wars doesn’t match what takes place at real-life storage auctions. Still, when understood correctly, storage auctions can be a worthwhile—and even entertaining—way to spend your time.

Where can I get the best deal on storage units?

8 Tips for Getting Deals on Storage Units

1. Find the storage units that are a little farther away.
2. Don’t get climate control if you don’t need it.
3. Don’t choose one with drive-up access.
4. Choose the smallest unit possible.
5. Buy your own lock.
6. Pay up front.
7. Commit to a long-term rental.
8. Compare your options.

Can you make a living off storage units?

The reality show follows a group of people who earn money bidding on storage units that are up for auction. Making money with storage unit auctions is hard work, and if you’re not careful, you can lose a lot of money and get stuck with a lot of junk. However, it can be a fun and lucrative business if you do it right.

Can you make a living buying storage units?

In many cases, owning a storage facility can be a profitable business venture. Extra space is a commodity many people will pay for. Also, it is a reliable recurring income should you attract enough business.

Can you go to jail for cutting lock off storage unit?

If you cut off the lock placed by the storage facility, it is possible that you could face criminal charges. If you believe you were not given proper notice I suggest you consult with a local attorney to review what occurred…

What happens if you leave stuff in a storage unit?

The belongings will be confiscated and will belong to the rental company. Most storage facilities will hold auctions for the belongings, or donate the items.

What state has the cheapest storage units?

Texas and Missouri are the cheapest states when it comes to self storage. The self-storage business isn’t the most complex thing in the world: lease space, divvy it up, and rent it out at competitive, yet profitable prices.

How much does a 10×10 storage unit cost?

Smaller units cost $50 per month. Larger self-storage units have an average cost of $300. Per year – Storage units rented for one year cost an average of $2,000 for 10 x 10 units.

What should I look for when buying a storage unit at auction?

You never know where you might find a treasure within the storage unit you won at auction, so examine every item. Feel inside of pants pockets, go through drawers and flip through pages of books. Look in every nook and cranny of every item to be sure you aren’t leaving anything worthwhile behind.

How do storage auctions really work?

During a storage unit auction, the belongings of a storage unit are auctioned off to the highest bidder to recoup the loss of rental fees. However, occasionally a storage company will accept sealed bids, whereas bids are placed through a sealed envelope and the highest bidder wins the items.