Storage Auctions
The Storage Locker => General Storage Auction Talk => Topic started by: MovieMan on May 19, 2011, 09:40:26 AM
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Have we explored every nook and crannie of the Storage Auction business?
With about 700 topics, 4500 posts we have explored a lot about the business, from what form the auctions take, how they are conducted, who is buying, what they are buying, what they are selling, ways they are selling it, what kinds of
"great" finds we get, what kind of "rotten" finds we get, what is spam, trolling, etc.
The list goes on (but what I listed just above represents a lot of the topics IMO).
So, is there ANYTHING we haven't explored? If so, list it here or start a new thread about some new subject.
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How about this: Which subject is most popular on this forum? Which one has the most views? Which one has the most replies? Which subject had the most duplicate or similar posts? Which one had the most interest overall?
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How about this: Which subject is most popular on this forum? Which one has the most views? Which one has the most replies? Which subject had the most duplicate or similar posts? Which one had the most interest overall?
I think all those questions can be answered here:
http://storageauctionforums.com/index.php?action=stats
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Well i think that we can ask everyone in here what got them started.
What made you start with storage auctions, what made you jump in the car and go to your first auction? For the one of us who started this before the TV show's, it can be interesting to see how and why people started with this.
For the ones who started after November last year, it is easy, you saw the show and wanted to do it. LOL
So this is more towards us oldtimers.
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The storage auction game is constantly changing so I think that keeps things fresh to an extent. Sure some topics have been talked to death but I always see different angles to convos we havn't had before.
Its like talking about movies. Pretty much every movie that comes out now days is another take on a movie that's already been made just a different setting, different characters, etc.
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We need more pictures and descriptions of the winning lockers! I never get tired of seeing the "treasures" that others have won! For all the guys on here and all the buying going on, we are not seeing very many of the lockers being purchased. Or.........is it so bad out there that these are all the lockers being purchased? ???
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Ok, I'm game, Ill post pictures of the next locker I win. If I can figure out how to post pictures to this forum.
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Well i think that we can ask everyone in here what got them started.
What made you start with storage auctions, what made you jump in the car and go to your first auction? For the one of us who started this before the TV show's, it can be interesting to see how and why people started with this.
For the ones who started after November last year, it is easy, you saw the show and wanted to do it. LOL
So this is more towards us oldtimers.
Not necessarily! Im one of those who started after November but have an interesting journey! ;D
About 10-15 years ago the big thing in real estate was owning storage unit facilities. Long story short, I had looked into it and the investment was more than I could afford.
All the literature read: Low Maintenance, easy set up, people drop there stuff off and pay you monthly. It was almost like a 50 unit facility would net me a monthly income and I had to do very little
Yeah Right!!!
All the research had uncovered Facility managers complaining about tenants not paying and holding auctions trying to get a fraction of the cost back. What was being said as easy money seemed like a huge headache and loads of paperwork. Even though i was being turned off about owning a facility, it made me curious about these auctions.
I actually only went to one local auction at this time and it was all garbage lockers and turned me off quickly.
Fast forward a couple of years and I went to a few more and could never commit my money to it. I didn't really see at the time how id make my money back at all.
All of a sudden these shows started popping up on TV and I started connecting the dots and kicking my own ass for not committing to it 10-15 years ago!!!!!!!!!!!!!
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Not necessarily! Im one of those who started after November but have an interesting journey! ;D
Yep, that's interesting, and we've all made similar "mistakes" in the past. Too bad we can't see 15 years into the future to tell what we should be investing in this year!
If you want to read more stories about how people got started in this business, follow the link below.
http://storageauctionforums.com/index.php?topic=1220.0
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Aftermath, if I were you I'd be kicking myself for not buying a facility, I guess if you didn't have the money it's not like you missed out on an opportunity but I remember reading an article that a few years ago public storage or one of the big boys in storage facilities pretty much swept across the country buying smaller facilities. Even one facility was selling for big bucks but the amount of money they spent on this venture was amazing, don't recall exactly what it was though.
In talking to a few managers and owners through auctions and stuff the consenses seems to be that its a pretty good business to be in if you have a good % occupancy in your facility. I think I recall a guy saying if you got 75% full your making good money and its a prettty easy busyienss. Honestly storage auctions are hard work and physical work and nickel and dimeing when you consider the money that can be made from owning a business and real estate. I
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Let me explain a little more, Im 34 now and when I was looking I was 19. After High School I went to college and took some business classes one in which we had to write a paper. The big things that people were talking about at the time was owning Storage Auction Facilities so I decided to write my paper on that. After interviewing an actual facility manager I learned it wasn't as low maintenance that was going around in the media. The Storage Facility manager was working on setting up a Auction for that week so I was lucky to find out about it.
Well at 19 getting a few hundred grand to get a storage unit was a pipe dream but the Auctions could of been a little in my price range hahahahaha.
Well my first auction I guess I was too stereotypical. The units looked like junk and the people looked like junkers. At 19 trying to look at it like a business it didnt look like I would get wealthy off of it.
I should of kept going but I got married and changed my educational goals and forgot about it
Now skip 5 years and I heard a crazy story about a guy who found a Harley Davidson in a storage locker and I saw dollar signs and went to a few auctions.
Well I ended up in a divorce, never bought a unit, met someone new, moved to brazil for a year, got married and returned to the states.
Now what do I see on TV? Storage Auctions shows!! I started connecting the dots. It was all the small junk that made a steady paycheck not the WOW factor!