Storage Auctions

Hello Folks

Hello Folks
« on: January 04, 2014, 04:52:59 PM »
Hello everybody!

I'm new to this forum, and new to the storage auctions, but definitely not new to "buy-sell" thing. About 4-5 years ago I used to buy stuff from Garage sales or Yard sales and resale them on craigslist. It was more hobby then a job. Wanted to try storage auctions back then but had to move to other state. Now I'm settle down, saved some cash and would like to visit a few locker auctions. I'm located in Milwaukee WI. Been researching this forum, but didn't find much info about Wisconsin auctions. Is there any free websites that has information about storage auctions? Anything i find online is cost money, I don't know if i want to pay for it right away. Just want to go see couple auctions, learn about whole buying process, and if I find something I like I might bid on it. I also been researching local newspaper, so far nothing.

Any help would be great!

PS. how much $ you guys take with you to the Auctions?

Offline Travis

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Re: Hello Folks
« Reply #1 on: January 04, 2014, 06:11:52 PM »
Neptas,

Welcome to the forum. You've got a lot of questions...luckily you came to the right place for answers.

For auctions in your area, you call the storage facilities, scour legal notices, look on AuctionZip.com or use StorageUnitAuctionList.com (which is a pay site) (Bet the regulars here never thought they would hear me plug SUAL (I'm guess I'm maturing  :D )

I usually bring about 5K to auctions although when I was new to the business I started with $400 in DISCRETIONARY funds.


Re: Hello Folks
« Reply #2 on: January 05, 2014, 02:21:14 PM »
Thank you guys for great information. Goint to check out all websites you mentioned here.

Offline Alias300

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Re: Hello Folks
« Reply #3 on: January 06, 2014, 12:06:16 PM »
Hey! Welcome!


I started with cold calling facilities to see when they held auctions.   Most around here are on a schedule. Like, every third Tuesday.  But if they only have a few will hold them over unless they need space.

Then I'd go and get auctioneers info.  Follow them, website or email list, rather than calling facilities.

This works well for me since I'm in this because I enjoy it and want to make some extra cash. Not looking to be full time.   Downside of this method, I miss a lot of near by auctions because I don't know who they use.  Easily solved but I'm concentrating on other things than hitting a bunch of auction.


How much money to bring?
Usually $1000. But I like small units and rarely do they go above $400.  That gives me enough for 2-3 and I've never seen three I wanted at one place.   If I'm going to multiple or the facility that has a lot of business owner units I up it to $1500-$2000
  But my main guy (with the exception of on facility) now takes debit. So there is that if you don't mind a 3% fee.


Re: Hello Folks
« Reply #4 on: January 06, 2014, 05:19:38 PM »
Well, i found couple auctions coming in next 3-5 days. So going to hit the road and see whats up there. Will let you know guys after I come back.

Offline Travis

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Re: Hello Folks
« Reply #5 on: January 06, 2014, 09:28:51 PM »
Well, i found couple auctions coming in next 3-5 days. So going to hit the road and see whats up there. Will let you know guys after I come back.

Good luck, let us know how it goes.

Re: Hello Folks
« Reply #6 on: January 08, 2014, 02:31:47 PM »
Well I'm at my first auction. 20 lockers here for sale. Let's roll

Re: Hello Folks
« Reply #7 on: January 08, 2014, 06:17:02 PM »
What an awesome experience. went to 4 Auctions, first one and last were decent ones. At first auction ~18 lockers for sale, 3 were nice ones, since i went there to see and learn i didn't bid, but it was attempting. next to auctions 6 lockers total all crap. Last auction had very nice tool locker and was sold for $1500, and it sucks I didn't bring that much money with me, cuz I would bought it all day long. Very nice learning experience

Offline MovieMan

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Re: Hello Folks
« Reply #8 on: January 08, 2014, 07:56:03 PM »
Last auction had very nice tool locker and was sold for $1500, and it sucks I didn't bring that much money with me, cuz I would bought it all day long. Very nice learning experience

It's better to have too many jackets on when it's cold; you can always take some off.

It's better to take more money than you think you'll need; you might need it.

Re: Hello Folks
« Reply #9 on: January 08, 2014, 09:54:10 PM »
It's better to have too many jackets on when it's cold; you can always take some off.

It's better to take more money than you think you'll need; you might need it.

Well I went there just to see whats in lockers and how they run auctions. I told my self I'm not buying anything today, and thats why I didn't grab more then $1k...
Lession learned!

Re: Hello Folks
« Reply #10 on: January 09, 2014, 10:49:46 AM »
I bought the very first locker I saw.  I think your strategy is sounder. 
You should be ahead of the game already from your selling experience.   I have stated many times buying is the fun part the processing and the selling is the hard part and where all the profit comes from. 
I am beginning to see the wisdom in the picking more and more, especially in my situation where I still have a full time job.  Picking and online is pretty much all I do these days.
Good luck to you and this forum is a great place to bounce ideas off people or ask questions.  I even got a good appraisal from this forum.

Offline MovieMan

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Re: Hello Folks
« Reply #11 on: January 10, 2014, 10:08:40 AM »

I am beginning to see the wisdom in the picking more and more, especially in my situation where I still have a full time job.  Picking and online is pretty much all I do these days.


And I am starting to see a convert.

Picking is really a winner if you have enough sources for goods. It's a lot less work and you can choose what you want and what you don't want right from the get go. No dump runs, etc, etc.
Sounds like a winner to me.



xx
How many of you drive up the bid on folks?

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