Saturday, February 26, 2011

Learn About Mini Storage Auctions and Bring in the Profits

People are only just starting to tap into the booming mini storage auction trend for the huge amounts of money that can be made from this largely untapped resource. It allows you to buy the entire contents of mini storage units and break them up to be sold individually at an enormous profit. These auctions occur when someone fails to pay his or her bill for several consecutive months. The mini storage unit's owner will be contacted to let him or her know that they have to choice to either pay their bill or their things will be sold at auction. When the bill is not paid, the mini storage business owner holds an auction to try to recoup some of the losses from the unpaid bills. It is a perfectly legal process and allows you the opportunity to get your hands on a lot of great stuff, without paying very much money.

Click Here To Check It Out Now

Of course, there are some important techniques that you'll need to learn in order to make sure that you're successful with your buying and selling. To start, this will mean that you'll need to know when and where these auctions are being held. Though they are quite common, they're not simply something that happens on a weekly schedule, so you will need to know whom to call to find out that information. You will also want to take the opportunity to look at the contents of the unit before the auction so that you can tell whether they are worth your while. Don't forget to ask whether there is a fee to participate in the auction.

Keep in mind that once the contents are yours, you'll need to be able to move and store them for your own purposes. Auctions usually require that you move the contents within 24 to 48 hours, so be sure that you can have a truck or van available to you, and that you'll know how much the gas will cost to move the items since you'll want to take all of your expenses into account before you start bidding. This is about making a profit, after all.

Here's to making Extra Money FUN again! 

P.S. Once you've acquired the contents you want to resell, the world is your oyster…that is, as long as you know what you're doing. Learn all of the tricks of the trade by downloading your copy of

Mini Storage Auction Riches today.

Storage Auction Bidding Wars

Storage Auction Bidding Wars

This is our latest entry on our YouTube channel. You can visit our channel here:

Storage Auction Riches You Tube Channel

This auction was fairly decent but possibly went to high. There was a jewelry case in there that probably contributed to the higher bids. 

Since the new show on A&E called Storage Wars, these auctions have seen the turnout at least 5 times as they used to be. It is nothing to have 100 people at these auctions now with most of them having no clue as to what they are doing. It's a free country but you need to know what your doing to break into this market.




Tuesday, February 22, 2011

Storage Auction Riches Helpful Tips

Secrets To Buy Storage Locker Bins Like The Pros

Storage unit auctions were a well-kept secret within the resale community for many years before A&E aired the reality television show Storage Wars. Millions of viewers tune in each week to watch entrepreneurs try to outbid each other on bins full from wall to ceiling of miscellaneous items. Often, the bidders will win with a bid less than $300, only to find an antique in the unit that’s worth double what they paid for the entire bin.

The reality is anyone can profit from these storage auctions. All it takes is some start up cash to bid on the units, a vehicle with a trailer to haul the stuff away from the facility, a mode to resell the items and the ability to find the auctions when they turn up. Fortunately, there are solutions that make the endless hassle of locating the auctions more viable.

This guide will walk you through the steps of preparing yourself for storage unit auctions. It will go over a number of topics and common questions for prospective bin buyers. 

About Storage Auctions

Self-storage auctions occur when an individual stops paying rent on their unit. After a certain amount of times goes by without payment, the contents of the defaulted bin become the property of the storage facility. The auction is an unfortunate result in the eyes of most storage facility owners, but it becomes essential to recover their losses. They attempt to contact the default leaser to no avail, and have no choice but to sell his/her stuff to vacate the bin for future use. Storage unit auctions are increasingly more common with the current state of the economy. Most storage facilities prefer to sell all the contents of the bin at once, because they are trying to recover the value of the backed rent, get the bin cleared, and ready to lease.

Bin auctions are the bread and butter for professional storage bin buyers. The bids normally don’t exceed a few hundred dollars and the contents of the bin could potentially be worth way more. Some storage facilities prefer to break up the bin’s contents piece by piece, and sell them individually. The vast majority of storage auctions are bin auctions, for the convenience of the facility’s owner and in attempt to quickly clear the unit for re-leasing. In most cases, better deals can be found at bin auctions, but you shouldn’t completely rule out piece auctions. Fewer people may show up for piece auctions with the mentality that they won’t make enough profit from won items, which would increase your chances of winning an item on a low bid.

Every state has different laws pertaining to storage auctions. Some states allow the bidders to physically enter the unit to get a better look at their prospective buys. Other states won’t even allow the auctioneer or facility owner to open the bin until bidding starts. Knowing the storage laws for the states you will be working is crucial for success in the auction-hunting world. Some websites list the different state laws pertaining to storage unit auctions. Every state also has different laws pertaining to advertising storage auctions. Many require that the seller or facility manager notify the public two weeks before the auction.

What to expect at a storage auction

Storage unit auctions are largely the same as other types of auctions. Bidding normally begins at a firm time, but it is always smart to arrive early. Expect a larger number of people bidding than in the past. The popularity of A&E’s Storage Wars and SpikeTV’s Auction Hunters has caused more people to embrace this unique career opportunity. It is important to be methodical and develop an efficient system to beat out the rest. Developing a system for bidding is crucial to your success as a bin buyer.

Depending on state law, the owner of the facility or the auctioneer may allow you to view the inside of the bin before the bidding starts. Normally, this allows you to see the bigger items stored in the bin, but not the stuff packed in boxes. There are two main formats when it comes to storage unit auctions. Some facilities prefer to use the traditional method of auctioning, when bidders shout their highest bid until someone goes higher than anyone is willing to part with. Another common auction format is the silent auction, where bidders seal their written offers for the bin and the winner is announced once all the bins have been processed. With experience, you will develop strategies for either scenario. If you win, you are usually given a set amount of time to remove the contents from the bin. If you fail to remove it in time, the owner of the facility reserves the right to remove it themselves. Always read the terms of service and any other disclaimers before an auction starts.

Most storage facilities will accept cash from the winning bidder. One major mistake some people make is not bringing enough cash to win an auction. Typically, specifically with the bigger storage companies, several bins will be for sale in a given day. Spending all your cash on the first few auctions could force you to miss something very valuable in the last auction. 

When it comes to resale goods, people are always looking for a great deal. If you can win good auctions for 
an appropriate amount of money, you can definitely turn a profit.

Deciding whether or not to bid

Depending on local and state laws, bidders may or may not be able to see all or any of the unit before the auction. This leaves a lot of guesswork for the bidder on whether or not to bid. A majority of the states allow bidders to inspect the bin from the front door before the auction starts. In this case, you should look for anything on the higher-end. For example, if you don’t normally deal in furniture, but see an antique or high quality chest of drawers, it increases the likelihood that other items of value will be in the bin. If you see nothing but boxes of paper (a common occurrence), then you may want to rethink bidding at all because it’s likely that the bin is full of worthless records of some kind.

Boxes are normally the biggest mystery during a storage auction. Within boxes could be literally anything that fits in that particular box. The box could contain jewelry, antique housewares, old antique advertisements… the possibilities are endless. Most bin buyers rely on the quality of the bigger, unboxed stuff, to determine how high they are willing to bid during the auction.

Remember to bid at your own risk. There is always a chance that you will end up losing money on a storage bin. Be methodical abut calculating risk and always make sure you can profit off the transaction. The resale industry is known for having relatively high profit margins, but one mistake can end up costing you hundreds of dollars. Before bidding, consider overhead costs such as time, transit of goods and the price you paid for the unit. 

Ask yourself these important questions: 

1.) How and where can I sell these items? 

2.) How much can I sell this stuff for? 

3.) Is the profit worth all the hassle involved in winning the auction? 

Where to sell my stuff?

So you won a storage bin and now have enough stuff to fill a 10x10 storage bin. Where do you go from there? Free advertising is the best advertising. Try to sell what you can on sites like Craigslist, or post in local newspaper ads. If you have items to big and valuable to be shipped from a location and require an onsite pick-up, Craigslist will probably to be your best bet.

Ebay has become the go-to auction place to sell literally anything, for any price. As long as the buyer is willing to pay shipping and you can afford Ebay’s listing prices, Ebay will be your best friend. Keep in mind, however, that Ebay is fairly competitive. Your ads need to look clean and professional, or people won’t trust you enough to buy from you. There are a number of books and services that teach you all the ins and outs of using Ebay. If you have never used Ebay before, I highly recommend one of those resources.

A strategy many in the resale industry adopt is specialization. Some resellers specialize in industrial equipment, while others are interested in art. Typical categories include antiques, clothing, appliances and home electronic equipment. Bins will usually contain a hodgepodge of miscellaneous items, and rarely cater to a specialized field. It may be wise to build a network of people specializing in other areas of resale, so you can rely on them to buy your goods, even if they can only buy them at a cheaper price. By building such a network, these same resellers may come to you with great deals on items they don’t have the knowledge to sell. Our primary focus was in recording and audio equipment, but everyone has different interests. Choose a specialization that you know about. It’s the best way to ensure profit. 

Research

Research is a critical step in planning your storage unit bidding. Many people go to storage unit auctions and leave disappointed. Sometimes, the bins up for auction contain nothing of value, and the prospective bidder has wasted their time driving to an auction with no sellable items. An even worse scenario is when a bidder goes to an undesirable auction and pays way more than the resale value of the bin’s contents. You can avoid these unfortunate mishaps by simply doing basic internet research.

An important factor in deciding whether or not an auction is worth your time and money depends on the storage unit’s location. Research the median household income of any region that a prospective storage auction takes place. Focusing on territories with higher median household incomes will always yield better results, because the residents of that territory have more freedom to buy higher valued things.

www.citydata.com is an excellent tool for those that bid on storage bins. You must always remember that the items found at storage unit auctions were bought and forsaken by someone else, so collecting data on the storage facility’s area is always a good idea. By simply typing in the city and state of a particular storage auction, you can obtain valuable information on the people that use the storage facility. It doesn’t take long to collect the necessary information to make an informed decision. Avoid areas with lower than average annual income, and you will be less likely to waste time and money going to auctions that will not yield a profit. 

You can also get “heat maps” of certain areas, with different colors signifying income level. These tools can help you visualize where the real money and best auctions are located, and can help you plan a trip if you want to buy bins from multiple auctions. www.hotpads.com is a website that allows you to search for apartments given certain searchable criteria. We have found through experience that their heat map is very comprehensive and especially useful if we are planning on going to multiple auctions in a short period of time.

To use their income level heat map, simply click on the map in the center of their home page. Type the city, county or state you are researching in the search field. Move your mouse over the “heat map” option in the upper left hand corner of the map, and a list will drop. Select “household income” or “per capita income;” either of these options will give you an idea of the wealth of a particular area. The map will take a second to load, but once it loads, the different zones should be color coordinated, ranging from blue to red. Red indicates a high income territory, while blue indicates a low income territory. See the color map legend in the bottom left hand corner of your screen. You can also add city, state or county labels by moving your mouse over the “Area Labels” section and selecting the desired area label.

Locating auctions

Locating auctions in an area can be a huge hassle. First, you need to create a list of all the self-storage facilities in a given area, including addresses and working phone numbers. After that, you have to sit there and manually call each facility in a given area and ask the manager for the time and date of the auction. Keeping track of all the auctions in an area can get overwhelming, because there are so many facilities and auctions to keep track of.

www.StorageAuctionRiches is a great resource for professional and amateur resellers alike. We provide a list of storage unit auctions going on in any given state, nationwide. We provide the self-storage facility’s name, phone number and street address. We also provide the date and time the auction is taking place. 



Saturday, February 19, 2011

Making Money On Storage Auctions

 Use a Mini Storage Auction to Make Real Money

Heading out to a mini storage auction can not only be a lot of fun, but it can also offer you a tremendous opportunity to make fast money quickly and easily. The trick is to know what to look for in a mini storage auction, place the right bid, and then resell each of the pieces individually for a profit.

You could learn this through trial and error, testing many different techniques and trying out lots of different home-made mini storage auction strategies, or you could use one simple guidebook to tell you exactly what you need to know…but more about that later.

The foundation behind the profitability of the mini storage auction for many people is knowing that you can buy a full lot of items for a low price, and then sell off the pieces individually for a much higher price. The people running the mini storage auction are trying to recoup losses from customers who have not paid the bill for their unit for several months - or perhaps even longer.

Therefore, they're willing to sell everything at once for a low to moderate price. For the individual seeking a profit, a mini storage auction is a great chance to get your hands on many different re-sellable items at a price you just couldn't find anywhere else.

Once you have the contents from the mini storage auction, it's your turn to become the seller. You can turn around and sell the goods anywhere you can find a person who would be willing to buy. This gives you a large number of options. If you want to sit back at the comfort of your home computer and let the internet work for you, then you might choose an option such as eBay, turning your mini storage auction treasures into online auctions instead.

This works well if you have items that would ship easily. If you think that you could drum up a better crowd locally, or if you have larger items that wouldn't be easy to ship, then you might consider a garage sale or other local selling marketplace instead. To make the right decisions for buying and selling your mini storage auction finds, take the time to educate yourself properly and know what your choices are.

When you choose the right book, such as Mini Storage Auction Riches, then you'll be able to learn everything you need to know within a single evening, and begin your strategy to maximize your earning potential starting right now.

Robert Ratcliff is an online marketing expert that can show you the hottest money making products that make money and how to use them to profit like never before.

Download his hot new money making manual right now and get the low down on how easy and fun it is to make extra money on your weekends.

Grab your free copy at: Mini Storage Auction Riches


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Tuesday, February 15, 2011

Storage Wars Expert Gives Advice On Finding Hidden Treasure


Darrell Sheets of 'Storage Wars' Gives Advice on Hunting for Hidden Treasure

Darrell Sheets, Storage WarsAmerica has become obsessed with turning trash into treasure. Witness the burgeoning treasure hunting genre that started with 'Antiques Roadshow' and now includes 'American Pickers,' 'Pawn Stars,' 'Auction Kings,' 'Auction Hunters' and A&E's latest hit, 'Storage Wars.' 

While each show takes a different angle, they all essentially feature real-life people looking to uncover the jewels hidden among junk (theirs or someone else's) and make money off of it.

'Storage Wars,' which focuses on four men who bid on defaulted storage lockers, premiered last month to 2 million viewers, making it the cable network's best unscripted debut in 2010. The show's gotten so much buzz that it has spurred such interest in the world of storage auctions that the number of bidders has sometimes quadrupled, according to show star Darrell Sheets.

I spoke to Sheets recently about the newbies in his field, how to determine whether a locker contains valuable items and why he keeps making big bets.


The show has gotten a lot of buzz. What's the reaction been like from people you know?
Seriously, it's been out of control. This whole thing has developed this underground culture and all of these people are coming out of the woodwork. I can't believe it.

Now, you've been doing this since you were a kid, right?
Well, [since] about 20 years old.

How did you get into it?
Well, what happened was, I had a landscaping business, taking care of shopping centers and I wasn't doing it the right way, I guess, because they let me go. Two days later, I went back to him and said, "I want my job back, I'll do a better job." He said, "No, I want to show you something different that I really think you're going to enjoy."

So on the show, you're labeled The Gambler. Do you think you take bigger risks than other bidders?
I know I do. A lot of these people buy a storage locker and go one locker at a time if they win or lose. What I do, I do it by the month. In other words, if I start the month off with $25,000 and end up with $20,000, I've had a losing month. If I start out with $25,000 and end up with $40,000, I had a great month. So I'll gamble on a lot of lockers based on something I see in there, but if I don't like it I'll just give the locker away.

Storage WarsWhen you first see a locker, and you don't know everything that's in it, how do you figure out whether you're going to bid on it and how much you're going to bid? How would you describe your process?
My philosophy is if I want it, I get it. There are circumstances sometimes that don't allow you be that way, but when they first cut the lock off and open the door, there are a lot of things I look for.

Are there cobwebs along the doorjambs? Are the boxes covered with dust? Are there footprints going into the locker -- which would tell you someone had been and out of there recently. Is the lock on the door rusty? Or is it a new lock? If it's rusty, it's been in there a long time. Did they pay a mover good money to move that in there? That usually means they have good stuff. If you pay to move your stuff, it's good stuff.

So the older the stuff looks to be, the more it might be worth?
That tells me more or less what I term "virgin stuff." If there are a lot of footprints and the dust is all moved and everything, that tells me that someone had been going in and out of there and maybe they were using it as sub-storage. If it's all boxed up and dusty and all the furniture is wrapped up, you can tell no one has been there in a long time.

You've been doing this for a long time now. What keeps you at it? 
All it takes a good hit and you're addicted. When you buy something for $3,000 and turn it into $100,000 that's like an addict chasing the high. I've tasted about 20 really, really good lockers in my life and I love that feeling. And the only way I can describe it to you -- and it's good that it's this time of year where you'll understand this -- remember when you were 12 years old and mom and dad had all the presents ready and it was Christmas Eve and you're laying down to go to sleep and you're all warm and fuzzy and you couldn't wait to wake up and have at it? It's the exact same feeling every time I buy a locker. I have all these boxes to dig through.

Have you ever had a string of bad lockers where you say, 'I can't do this anymore'?
I never say I can't do this anymore, but I've gone six months without getting a good locker. But this thing goes in tides, you go up and down like the tide in the ocean. It's a numbers game. If you buy 100 of them, one of a 100 is going to stick. You really have to remember that and know that it's going to happen.

Storage WarsThe show focuses on four bidders but I assume there are more out there. How big is this field?
This industry is a lot bigger than people think it is, I'll tell you that. Since the show started, we've gone from 40 to 50 people at an auction to 300 people at an auction. It's now, every guy or woman that's been out of work, sitting on the couch going, "What am I going to do now?" They watch this show and they can literally get up tomorrow morning and go do this.

I just had a girl email me that said, "Darryl, I watched the show and I thought you guys were full of crap. We live in Pennsylvania, my husband and I went out to a locker, an auction, we bought a locker for $25. It was full of all these old wooden boxes. My husband didn't want it, but I had this feeling. We opened it up and it was the entire contents of the General Mills estate from the late 1800s." And she's flabbergasted, she signed it at the end, in big letters, "This really is the wow factor." It made me feel so good that somebody got something like that out of this.

But now you're having to compete against a lot more people.
Here's the deal with that. That's the No. 1 question. They're like, "You opened up your field of business, you're telling them everything about you." I've had 32 years of experience that you can't go buy in school, that you can't get that experience anywhere except through trial and tribulation.

And when I see new people out there and they're going to act like idiots or jerks, trust me when I tell you this -- they're not going to get to buy anything. The veterans are going to run them out of business and help them spend their money so quick, they're going to wonder what they just did. It'll be worse than the penny stocks, believe me when I tell you that.

Do you have advice for somebody who sees the show and think they could do what you do?
I have the best advice you could possibly get. When you go to these auctions, don't stand around and tell everyone that you're new. Have your flashlight and your lock and your cash ready to go, and just act like you've done it a hundred times. Because if you're new, they're going to run you out. If you stand there and act like you know what you're doing, you're going to be right in there with the veterans.

Storage WarsWhat's your relationship with the other bidders? Are you all friends or is there a lot of competition and jealousy?
When we go there, before the auction, we have 20 minutes where we're all standing around calling each other names, making fun of each other. That is actually our entertainment. When the bidding starts, there is no love. It's 'Storage Wars,' not 'Storage Making Love' and it goes off. What you see is really the way it is. The minute the bidding stops, we're all buddies, we'll go get lunch. It's the weirdest thing I've seen in my life.

Me personally, if a guy that's been in the business gets a really good locker and I hear about it, I'm pissed off for about 30, 40 minutes but after that everything is cool ... But that's what makes me want to go out there and get a good locker right along with him.

There are a lot of shows about people taking what seems to be junk and seeing if they can make a treasure out of it. Why do you think there seems to be a rise in popularity with these shows?
I call it the modern day gold rush. Everybody wants to go out and find something that's worth money. That's what makes the whole world run -- money. Once again, somebody could be sitting there watching this and say, "Hey, I might go find the treasure. I might be able to change my whole life by finding that treasure." I think that, and personally, the way our show keeps score, people have somebody to root for ... [there are] a few different elements that really make this work.

What can we expect from the rest of the season? Is there anything we can look forward to?
Yeah, there is. We just finished shooting 12 days in Las Vegas. There were some big hits. Obviously I can't tell you what the big hits were, but it's going to be a lot of fun. Good old Dave the Mogul, he's going to get a little taste of his own medicine here.

I had no idea this world existed!
I'll leave you with this, Kelly, this is something no one's ever asked me or I got to tell them about through all my interviews. This job has also allowed me to take every summer of my life off. I work really hard all winter, I put my money away, and every summer I take off and buy a house on the river, a boat in the harbor, something like that.

If you know how to work it, this can be a great lifestyle. You're in complete control of what's going on. But in the winter it's 7 days a week, 17 hours a day.


 Storage Auction Riches Ask - "What Treasures Could There Be In These Lockers?"