#Storage #Wars
How Do people Lose Storage Units At Auctions

It is unfortunate when people lose their belongings. I personally had family and friends That have had this happen.
Ultimately this is a business and one way you’re providing income for your family.
Understanding the possible way people are losing their storage units may help you identify and profile for better purchasing decisions.

1) Death is common in the storage unit business, And typically friends and family have no idea or we’re not contacted, And even in some cases if they were aware will let the storage unit go up for auction, or simply don’t care or possibly don’t have the means to pick up the belongings.
This is some of the best types of units you can buy simply because they probably have not been in the storage unit to pick up the valuables. Looking back at my top 10 storage units ever purchased and 5 of those was because of death in the family. The probability of finding good stuff is high also because they lost the unit not because they couldn’t pay. This is also very common for the elderly community. Which means you may find vintage items that sell great online for eBay and Amazon. Make sure to build relationships with the facility managers they may have insight as to what happened.

2) Incarceration Probably one of my least favorite types of storage units to buy. Let’s be honest the vast majority of people that are incarcerated are in there because of drugs or addiction. This could mean a lot of things in my experience they have already tried to sell all the valuables to fuel their addiction. Which means the reason we buy storage units is to get high dollar items that we can resell for profit, So Profiling storage units is a big key to success, also painting a picture of why they lost the unit is part of that. Yes possibly they could be in jail for stuff other than drugs and or addiction but the vast majority of those storage units in my experience don’t yield a great amount.

These types of units you’ll notice have a lot of duffel bags they have tossed and scattered items you’ll notice possibly a lot of food and bottles. A good portion of them won’t have much furniture. Use your gut instinct you’ll know just by looking at the units if they look organized, And if they cared about their items.

Definitely not saying you can’t find profit in these types of units but a good portion of them is a waste of time and money. A lot of facilities offer 1 and 2 months free so they’ll place their items in there knowing possibly that they may be put in jail. Again build relationships with your facility managers a lot of times I ask how long they’ve been at the facility to paint that picture!

3) Bill management One of the more common ways people lose storage units Is simply not managing bills it’s not fun to pay a storage unit bill especially for items you don’t use on a day-to-day basis. A lot of times the storage bill gets put on the back burner they get too far behind and then it gets into Delinquency status. This is also common in divorces and relationship splits. Definitely good opportunities to pick up great storage units. Sometimes it’s hard to identify these types of units versus people that go to jail or incarceration. One way possibly to look into this is to google search their name to see if they have public records of going to jail Recently.
But ultimately use your profiling skills to see if they cared for their items if there neatly organized and what you see at the front of the storage unit to justify pulling the trigger.

Remember try to take a little bit of the gambling out of buying storage units and only bid on what you can see. This will become easier over time once you develop your own profiling skills mixed with gut feeling.

4 Moving One of the lesser common ways people lose storage units. Remember the facilities and staff are not private investigators they only have the contacts you give them if they can’t get a hold of them and there bill is not paid they will auction the unit off eventually. A lot of times people move out of state and change their address and phone number. Moving companies also have these types of auctions. Sometimes they are common in pod auctions.

5 Business storage unit auctions are some of my most favorites to bid on. Yes businesses go out of business all the time and those units have to go up for auction just like any other storage unit. They’re very common on the ground level of facilities so they can drive their vehicles up quickly and easily unload and load. Also typically some of the bigger storage units are on the outside of the buildings.

Storage unit buying is one of the very few businesses that thrives when the economy is bad. (As a buyer) as long as you have the capital you can really succeed pretty much anytime.

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