There is a great money-making opportunity out there, and you probably pass by it everyday. In non-descript buildings that dot highways across America, we store millions of square feet of stuff in self storage facilities. But what happens when the bill doesn’t get paid? The stuff, usually everything in the unit at once, gets sold at auction to the highest bidder.
If you’ve watched the shows Auction Hunters or Storage Wars, both of which center around storage auctions in California, you’ve seen the types of great finds that can come out of self storage auctions. Eric Quinn, creator of the comprehensive e-book Storage Auction School, was able to quit his job and pay off his debts within a year of getting into the storage auction business.
You could literally find anything in self storage auctions, from valuable antiques, electronics, guns and collectibles. One of the stars of Storage Wars recently talked about his find of over $100,000 worth of comic books in a self storage auction. And how much does the typical unit go for in a self storage auction? $200-$300, with some units going for as little as $10.
While there are great profits that can be made, you need to know what you’re doing to achieve storage auction success. I have outlined some of the basics on this site, but there is a lot more that can be learned through the experience of trial and error. If you want to bypass some mistakes you can always leverage the experience of others by reading some of the great e-books available on the subject. The best on the subject is probably Eric Quinn’s Storage Auction School which is absolutely packed with information. His book discusses how to find storage auctions, what to bring with you, things to look for when bidding on a unit, and how to sell what you buy and make some money. His book also includes three months of counseling to guide you on your journey to storage auction success step-by-step.
Good luck in your self storage auction adventures!