Wednesday, November 16, 2011

Bidding On Storage Units: Q&A With The Hubby

This morning my husband, Charles read to me, a news story, that a man had found $500,000 worth of gold and silver after winning a bid on an abandoned storage unit.  

A few years ago, my husband and I were Self Storage Property Managers in Las Vegas.

I decided to have a Q&A with my husband about Storage Auctions!

Me: " How was your experience attending storage unit auctions different then what is shown on "Storage Wars"?

Charles: "The big difference is the show likes to focus on the quality units."

Me:  "Please explain".
Charles:  "People can make the mistake in thinking that every storage unit is a treasure chest...the opposite is true."  "In fact, 95% of units sold at auction is junk...old cheap furniture, out dated electronics, moldy clothing and trash are usually the norm"!

Me:  "Okay, but we've actually purchased or been given items from auctions. Don't you still think they're worth attending"?
Charles:  "If you're looking for tools, household items, etc you might be able to make a deal with the winner of the unit."

Me:  "Yes, do you remember Marcus getting that old green recliner from an auction"?!
Charles:  "His captain's chair"! 
Marcus' favorite storage item purchase

Me:  "So, you don't think people should be grabbing their trucks and heading into this as a way to make a living"?
Charles:  "It doesn't cost anything to attend and observe an auction.  I recommend going to a few your local area.  Listen, look and ask questions. 


Me:  "What should people bring with them if they plan on participating in a storage auction"?
Charles:  "You need to have cash..no debit or credit cards or checks here.  You'll need a truck or trailer...sometimes you can rent one at the storage facility but don't count on it. Most storage facilities only give you 24hr to remove the items. A powerful flashlight so you can view things inside the unit.  Remember, in Nevada, you can't enter the unit."  "Oh!  And don't forget a lock"!

Me:  "What was the best find that you saw at an auction"?
Charles:   "A guy spent $250 for a 10x10 storage unit.  The unit had a complete Mac tool set and rolling tool box..estimated cost $5000"!

Me: "What was the weirdest find"?
Charles:  "A woman's ashes"!

No comments:

Featured Post

Family Summer Book Club

My daughter-in-law came up with this fun idea to promote summer reading with our granddaughter. But we quickly realized it's fun for the...