Red Flags To Look For At An Auction

The storage door rolls open and immediately you know you want this unit. Brand name boxes galore - everything from Sony and Pottery Barn to Ralph Lauren shoe boxes. But take a second look before you assume you just made this months rent.

Given the recent interest in storage auctions, it's no surprise that the frequency of scams has increased. We've already warned you about staged units and pilfered lockers, but you also need to beware of tenant scams. Recall that when a unit sells for more than the amount owed to the storage facility any additional money goes to the tenant. On occasion, a tenant may allow a unit to go delinquent to make a profit.

If the tenant simply abandons the unit to allow it to go to auction, you as a bidder are not in danger. But if someone collected brand name boxes, and deliberately placed them in a unit to generate higher bids, then you'll overpay for a unit full of empty boxes.

We don't mean to suggest that this is the norm, but it does happen. Here's a few tips to help you avoid tenant scams.

#1 Scrutinize every unit. Don't be dazzled by brand name boxes - always consider whether the unit looks natural. Are all the brand names facing you so you can easily read them? Is there anything to indicate the boxes have anything inside of them? Does the unit look too clean to be a genuine storage unit? Too empty to justify the cost of paying monthly rent?

#2 Find out how long the unit has been rented. If the unit was only rented three or four months ago (just long enough for the unit to end up at auction) then bells should go off.

#3 Find out how much delinquent rent is due. If the rent due is $500 but the unit would likely only go for $500 or less, it's not likely a tenant scam because the tenant won't make any money. On the other hand, if the tenant got their first month free or for $1, then their delinquent rent might only be $100 and they could make an easy (albeit unethical) $400.

Barry Weiss Mystery Man?

Barry Weiss of Storage Wars

Barry Weiss of Storage Wars fame has everyone asking "What did you do for a living to become rich?" He has been confused with the movie producer of the same name. People assume since he has this cool demeanor and sense of humor, he must have been a Hollywood producer. Not so. Here is a partial interview with the man himself.

One of the biggest questions fans have about you, Barry, is what you do for a living. The rumor is that you are or were a Hollywood producer ... true?

(Laughing) No, no, I'm not. Actually, I've been an antique collector my entire life, and I was in the produce business for 20‑25 years, and I retired about four years ago. I just was traveling around the world and enjoying life, really. The way this opportunity came along was a close friend of mine, Thom Beers, who is the creator of the show, was over one night. I don't know, we were having a few drinks. He said he was working on something with these storage lockers, and would I like to be a part of it? And basically that's sort of how things unfolded.


So the only "producing" Barry has ever done was in the "produce" business. I bet buying a banana from this guy back in the day was a scream. The jokes he probably came up with are as classic as the man himself.

We still love you Barry, just the way you are.

Barry Needs an Apprentice - Is It You?

Storage Wars New Season

'Storage Wars' Films at Self-Storage Facility in California's Inland Empire

Highland Self Storage in San Bernardino, Calif., became the latest facility to welcome the cast and crew of reality TV show "Storage Wars" (A&E, 10/9 p.m. Central time, Wednesdays).

As the show's film crew was working, neighborhood residents tried to peek in from the facility's perimeter. The San Bernardino facility invited its customers to attend the filming.

Johanna Flores, facility manager, told the source eight units were auctioned Wednesday. "Right now, this is the first (auction) that we've held this year, and we're trying to do one every other month," she told the reporter. "The process takes about 60 days to get an auction together, and from there they make sure all our legal paperwork is up to date," she said. Highland Self Storage works with American Auctioneers.

"Storage Wars" begins its second season in July. Scenes filmed at the San Bernardino site are scheduled to be used during the seventh episode.

Storage Wars and Auction Hunters TV Shows - Are They Real?

Storage Wars Barry & Jarrod look for goodies

Do You Believe What You See On These TV Shows?

So you watch the shows on television that shows the winning bidders uncover some item that is worth a small fortune. They sift through all of this junk and lo and behold, there it is. That item that is going to make them a ton of money and they only paid $600 for the unit. It can be a safe, antiques or even money itself. The question is..are these shows real or staged. I believe they are a little of both. Sure you can find items of value but does it occur as often as these shows portray? Probably not. However, I don't think Storage Wars "plants" any of the items in the storage units. I do think that maybe there is editing done and they don't always show the loser lockers. That is until the last few episodes, I believe they saw that the show was portraying every unit being a winner and wanted to show that even the experts get it wrong sometimes.

Now Auction Hunters is another story. Again every unit they buy has some sort of rare item or a valuable piece of furniture. They find slot machines, rare guns and even a Maui Blue Fender Stratocaster, which is a pretty rare guitar. Honestly, I believe this show is either staged or some creative editing is done. Personally, I don't even like the guys who are on it. They just don't seem like to people who would hang out together to me. I mean how clever is it that the big guy is called "Ton". Just an FYI, his name is Clinton so hence the nickname. Again I find this show unrealistic and misleading to anyone who wants to get into the business.

So if you ask me, out of the two shows which one is closer to what really happens at these auctions, I'd have to give an edge to Storage Wars. You have to remember the guys like Dave Hester and Darrell Sheets were doing this before cameras were present. Back then you could buy a unit for $100 and make some decent money if you had a way to resell it. It's kind of funny, I hear these guys complaining about all the "newbies" showing up at these auctions and ruining the business by bidding up units. Well if it wasn't for the shows you are on, this wouldn't have been exposed to the public. Trust me they get paid to be on the shows also, not to mention when it gets released on DVD. I don't feel sorry for any of them. Especially Jarrod...Brandi is a poor mans Jennifer Anniston.

Recently I interviewed my good friend, Tim Brendel. He got tired of all the shows making this business look easy. So he wrote an e-book called Storage Auction Wealth. I recommend it and here is why. Storage Auction Wealth is not a get rich quick scheme. This is a guide to an actual business that can make you a great deal of money if you are willing to put in the work.

I am not going to tell you that you will get rich by doing nothing. If you want to make the money from storage unit auctions then you have to be willing to work at it. Following the tips and tricks in Storage Auction Wealth will make it easier but you still must follow through with the process.

So check it out here. If you are serious about this business it is a must have. If you just want some tips on the business to help you decide if it's for you or not, I say it is worth educating yourself before you get started.

So either visit the link here or simply click on the picture of his book below.

Storage Auction Wealth