Storage Auctions

Previewing Storage Facilities

Previewing Storage Facilities
« on: July 14, 2011, 03:47:22 PM »
When I was in the real estate business some years back, I would preview properties on both the buyer and seller's side in order to see some of the selling features and benefits. It actually made a difference in my sales.

Today, I used a similar approach while on an extended lunch break, yet with storage facilities. There is an auction coming up this Saturday in a very rural area, and I previously didn't know what to expect as far as location, parking etc. This auction, of course, will be my very first. Upon discovery, I noticed that this facility is a small, outdoor mini-storage facility with quite a bit of 5x5, 10x5, 10x10s, and even a few separate 10x20 units that could probably fit small cars and such.

My expectations are such that I plan to really observe the buyers, yet if an opportunity exists where a less-desirable unit that is housed in a small area may come available, I may make an affordable bid. I pretty much expect some household items such as mildewed beds, boxes of dishes, maybe some appliances but you just never know. Since its on a Saturday morning, I'm sure there may be around 20-50 people.

If given the time, does anyone preview storage facilities to get an idea of what may be in store at auction, or is this just a waste of time?

Offline MovieMan

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Re: Previewing Storage Facilities
« Reply #1 on: July 14, 2011, 04:38:16 PM »
If given the time, does anyone preview storage facilities to get an idea of what may be in store at auction, or is this just a waste of time?


Not if it makes you happy !  ;)

Offline jrossjr79

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Re: Previewing Storage Facilities
« Reply #2 on: July 14, 2011, 06:09:25 PM »
I personally do not preview the actually facility. Now if I could preview the locker(s) themselves, then I would be all over it :)

Offline Travis

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Re: Previewing Storage Facilities
« Reply #3 on: July 14, 2011, 08:01:00 PM »
I personally do not preview the actually facility. Now if I could preview the locker(s) themselves, then I would be all over it :)

That takes some serious brown nosing, but it does happen.

Alabama: To answer your question: Yes, it's a total waste of time. Your best bet is spend less time casing the facility and more time staring into the unit.

Re: Previewing Storage Facilities
« Reply #4 on: July 14, 2011, 08:51:57 PM »
Oh, I fully intend on staring into the lockers and making a decision on what is truly "the good, the bad, and the fugly." I just like to be mentally prepared on other possibilities. I may be a passive bidder or even an observer at my first auction this Saturday, but I may also may make a bid should the opportunity present itself. In many things I've been successful at, opportunity comes sometimes through simple preparation. Or in short, "making my own luck."

Offline Drew

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Re: Previewing Storage Facilities
« Reply #5 on: July 14, 2011, 08:57:47 PM »
Ya I would say it is a waste of time. Nothing really to gain from it.

Offline Travis

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Re: Previewing Storage Facilities
« Reply #6 on: July 14, 2011, 09:25:06 PM »
Or in short, "making my own luck."

Make your own luck by waiting for the right unit to come along at the right price. Focus on quality and volume. Know how you're going to sell it before you buy it. Only bid on what you can see. Be prepared to work your butt off. You're doing well if you double your money.

Just out of curiosity, what kind of real estate did you work in. I was an appraiser for 5 years before sub-prime collapsed. 

Offline jrossjr79

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Re: Previewing Storage Facilities
« Reply #7 on: July 15, 2011, 12:50:02 PM »
That takes some serious brown nosing, but it does happen.


Kind of figured it does, never know I am getting close to the management where my storage locker is at, :)


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