Going to Your First Storage Auction

After seeing storage auctions on reality shows, it can seem fairly easy to go to storage auctions and get the same types of deals and income that the stars of the shows are receiving. However, while it is possible to make a good income from storage auctions, it may not be cost effective to jump right in and expect it to make as much income as a full-time job. These guidelines are important for those considering getting into the storage auction business.

1. Have significant start-up cash. And just like gambling, only take cash that you are prepared to lose. Do not take out any loans to have enough cash to buy a storage unit or locker. Starting in the red is a not a good way to be successful.
2. Keep emotions in check. If a lockers looks good or you spot a treasure, keep calm. Getting excited will alert others and they will bid on the unit, thus causing you more money.
3. Understand the rules. Pay attention to the auctioneer (and other bidders) during the auction. Each self storage property may have a different way of completing an auction or sale, and not following the rules may lead in fees or the loss of a won storage unit.

These are just some of the rules that come with being successful and earning a good side income with storage unit auctions.

This post is sponsored by Auction Hunters, an online program to find and make money with storage auctions.

What Treasures Can You Find at a Self Storage Auction?

Self storage auctions have grown in popularity recently, mostly because of reality tv shows like Storage Wars and Auction Hunters. These television shows offer big profits on small investments of the auction bet.

While auctions don't always yield such profitable finds, it is possible to make extra income buy buying and selling storage locker auction merchandise.

Many of the treasures that come from auctioned off lockers are from units that have been rented for many years, from 10-30 years or more. Oftentimes, these will have older, antique items that could be worth quite a profit.

However, some newly rented storage lockers can also yield a profit, especially if they were owned by an inventor, collector, or they contain family heirlooms.

To get a good idea if a storage unit for auction has valuable merchandise inside, bring a flashlight and look for hidden treasures that others may not have seen. Safes can also be a good sign that the unit has something valuable. Finally, if a unit is clean and the items are organized and stored properly, they may yield expensive items, because the owner took the time to make sure their storage unit was neat, organized, and clean.

This post was sponsored by Auction Hunters, a website owned by Self Storage Investing.