Storage Auctions

Buying locker from locker renter

Buying locker from locker renter
« on: October 21, 2013, 06:52:52 AM »
I make it a point to get to know a lot of the storage facility managers and maintenance guys. I was called by one of the maintenance guys and put in touch with an locker renter with money problems.  '

She gave me a sob story about having no money and needing to move to Iowa.  The locker had some nice furniture, tons of household boxes, and an ugly couch.  Its a 10x20.  She wanted $500.  I told her to get all the stuff she wanted out by tomorrow and I will make her an offer after I get the ok to take ownership of the lease via the storage manager.  She says she has till the end of the month and I can verify with manager Monday.

The furniture consist of 2 dovetail dresser drawers that were in good condition, 2 matching night stands, and chest with a mirror.  I am learning but have little experience with antiques.  The furniture is solid and looks to be in great condition.  All the drawers move well and like I said a couple of the pieces have dovetail joints.

I am going to offer her $200.  Just curious if any of you have gone through similar situations.

Offline Travis

  • *****
  • 5484
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Re: Buying locker from locker renter
« Reply #1 on: October 21, 2013, 09:39:01 AM »
I resell a lot of lockers after I remove the valuables. It's just easier for me to sell things in bulk since I don't have a way to sell the smalls anymore.

It's a fairly easy process. Just tell the facility manager that you want to have the unit transferred into your name and have the former tenant removed from the lease. Most facility managers are more than willing to comply. 

Offline dbr831

  • ****
  • 282
    • View Profile
Re: Buying locker from locker renter
« Reply #2 on: October 21, 2013, 09:40:03 AM »
I've bought lockers from their owners twice. The benefit is you generally get to look much closer, look in boxes etc. On the first one it was a family with grandma's stuff. They had tried to sell out of the unit, garage sale style a couple times but it was packed really tight and they had only made back a couple feet. I think it was a 10x15. Tons of boxes all marked with tempting things. Paid $900. Got past the packed to the ceiling boxes to find tons of broken furniture. After costs, made maybe $600 profit. Lots of work, had to really make an effort to make a profit. Not a very good experience. On the second one, about the same size, paid $400. At initial viewing the owner kept pointing out items he was keeping. There was a $600 coffee maker in sight. He kept saying how valuable it was. Told him to get his "I'm keeping that" stuff out before we would pay. Came back to find coffee maker gone. Told him we wanted it or deal's off. He brought it back. Paid him and started to clean out locker. He stayed and watched and kissed all his "beautiful things" goodbye. Seriously! He called us several times over the next few weeks to ask if we had found certain things he wanted to have back. A chef knife, a drawing, a gold and ruby ring. Found the chef knife, nice but had a nick in the blade (gave it back to him). Didn't find the drawing, found the ring but had already sold it before he asked about so we told him we didn't find it. We ended up getting a little over $500 for the coffee maker on EBAY.  Overall, made $1700 profit on that one. Good money, awkward experience. 

My advice about buying from owners...if they say they have been selling stuff you can be sure they sold the good stuff, and if they seem attached to their stuff make sure they leave before you start emptying the locker.   


xx
Buying a locker without a place to keep the items

Started by TheFerg

15 Replies
6847 Views
Last post October 17, 2011, 12:20:39 AM
by monkeybusiness
xx
What is the “good” locker to “average” locker ratio ?

Started by MovieMan

8 Replies
4152 Views
Last post February 11, 2013, 11:11:38 PM
by Bryan
xx
What is the good locker to average locker ratio?

Started by MovieMan

15 Replies
6038 Views
Last post March 12, 2011, 10:50:37 AM
by Travis
xx
You buy a locker and then what...

Started by JavaWriter

22 Replies
8801 Views
Last post April 11, 2012, 07:47:48 PM
by bulldogmom