Storage Auctions are receiving a great deal of coverage lately and almost certainly because of the two new TV Shows covering this subject on Spike (Auction Hunters) and A&E (Storage Wars). If you are looking for ways to generate extra money, you should take a look at storage unit auctions. Generating income using this method does involve a small amount of start-up money, however you stand a good chance of recovering those funds and earning a substantial profit.
Storage unit auctions are usually advertised in local newspapers and a few places online. However you can contact local storage companies and request the dates of their auctions. Considered to be modern day “Treasure Hunts”, storage unit auctions are held on a regular basis at self storage facilities throughout the U.S. and because “treasures” are uncovered so frequently the return on investment makes this a worthwhile pursuit. With approximately 10,000 storage auctions taking place every year, you will certainly find some in your area.
One of many attractive things about a storage auction business, besides the profit potential, is that it’s an ideal part time business for people who have full time jobs. Most auctions are held on week-ends and in the evening hours since the storage unit owners are aware that more people are able to attend during these periods.
A word of caution, however, since we’ve mentioned that there is a tremendous potential for profiting from storage auctions, there are some risks. As opposed to any other type of auction, for example, estate auctions, you are not given an opportunity to inspect the contents of the storage unit you are bidding on. Most of the time you can not enter the unit or open boxes, you can only look through the door at what’s inside. Therefore, you will be putting in a bid blindly.
If you are considering getting involved in self storage auctions in the near future, then you want to be well prepared and be aware of rules and regulations of these kinds of auctions, in addition to some tricks and tips on how to get started. So browse around you’ll find tons of free information on storage unit auctions here.
