Sailboat Rides

Buying self storage units at auction in the hopes of making extra cash is a great idea for a part-time business. It does not come easily and does require a little work. A person needs to know when and where the auctions are being held. They must also have a good idea of what to look in order to make a profit.

Have your own garage sales before buying a unit. It will give you a better understanding of what people are willing to pay for used items or if they will even buy them. You will find out if you are really willing to invest your time and effort into this type of business and you will be able to earn cash to begin buying units with.

Finding auctions can take some effort. A great source is the storage companies. Some will have listings for all their locations but you may end up having to call each site separately which is a good thing because you can also confirm the sale is still being held.

When you attend an auction always get there early to sign in and read the company rules. The only form of payment that will be accepted is cash, so bring plenty. You also need to bring valid identification and if you have a resale license you need to bring it also. Without the license, sales tax will be added to your purchase.

Once the unit is opened, each person will have an opportunity to walk by the entrance to see what is inside. However, no one is ever allowed to go into the unit to check its contents during this time. Bidding will begin and the winner will lock up their unit and have everything hauled away within the time period allowed by the storage company.

It is important to not overbid what you believe the contents inside the unit are worth. You are only going to hurt yourself if you get into a bidding war. Hold on to your emotions and remember that you are trying to make a profit on the resale of the items. There is the possibility that you may find money stashed inside a box, valuable coins or antiques, or other expensive items. However, that is not the norm.

The real treasure is found in being able to resale household items, appliances, tools, furniture, and clothing for a profit. When you are peering into the unit trying to decide how much you will bid look at the condition of the storage boxes and furniture. Notice if there are rodent droppings or damage on anything you can see. Also look for name brands, wardrobe boxes, and furniture that appears to be in good condition and are not outdated.

Having a flashlight with you will help peak into corners before bidding begins. Also bring along two or three padlocks in case you purchase more than one unit. Buying self storage units does take an investment of time and energy but you can make a nice little profit if you are willing to do the work, learn from experience, and keep going to auctions.