How to Find and Buy Abandoned Storage Units: The Ultimate Guide
Reading Time: 13 minutes Auction 101: Abandoned Storage Units for Sale Near Me
Have you ever wondered where all the abandoned storage units for sale are?
Browsing online for a new place to store your stuff can be time-consuming and fruitless. This article will teach you how to find, buy, and sell these storage units in one sitting!
What are abandoned storage units?
An abandoned storage unit is a storage unit that has been left without use for an extended period. Often, these units are put out to the curb and forgotten about by their owners.
Why are storage units often left abandoned?
There are a few reasons storage units are often left abandoned. The first is that tenants stop paying rent. Storage units require the user to pay, which is why they are auctioned as a last resort. The second reason is that the company cannot rent them out until the contents are gone. The company tries to recoup some of its money through public auctions.
What happens to stuff left in a storage unit?
When a storage unit is abandoned, the contents must be cleared out. This is typically done by the storage company that owns the unit. They may auction off the contents to recoup some of their money.
How do abandoned storage units make money?
When a storage unit is abandoned, the contents are auctioned off to the highest bidder. This is typically done by people who want to make money by reselling the content. Making money from abandoned storage units is typically done by buying them and cleaning them out, then selling the items.
How can you find abandoned storage units for sale near you?
To find the best deals on abandoned storage units, check out websites like “Storage units” on Google to see what other people have found and to compare pricing and inventory in your area. You can also search for “storage unit auctions near me.”
Step 1: Check local classified ads
Are you looking for an abandoned storage unit for sale? Checking local classified ads is a great way to find them! In addition, storage companies will often advertise upcoming auctions in newspapers and online, so keep your eyes peeled. Once you find an auction, you’re interested in, sign up for a buyer’s account (you’ll just need to enter your name, address, and credit card information). Fees are usually around $10-15 per unit. Then, you can start bidding! Online bidding and live auctions are great methods for snagging a good deal on a storage unit. If you want to do this as a full-time job, use online and live auctions to get the best selection of units.
Step 2: Look for online auction websites
Auction websites are a great way to buy and sell abandoned storage units. To find auction websites for abandoned storage units, search online. Make sure to read the license agreement before using the image. To get the best deals, combine online bidding and live auctions.
Step 3: Search for storage unit auction companies in your area
To find storage unit auction companies, look online or contact local businesses. Storage facilities typically hold auctions every 1-6 months for abandoned units. A small entry fee may be required for larger auctions. Auction companies usually take a few minutes to auction off each item, so plan to spend several hours at the event. Storage units can be auctioned for various prices, from $25 to $5,000. Only bid cash when purchasing storage units – credit cards or checks can lead to overspending. To find storage unit auction companies, visit the websites of auction companies or search for “storage unit auction companies” in Google.
Step 4: Go to a live storage unit auction
To find and attend a live storage unit auction, look for websites or publications specializing in this content. Auctioneers will typically provide more information about the auction than is available on the website or publication. Therefore, it is important to arrive early to ensure you get a good spot.
Storage facilities auction off abandoned units every 1-6 months, and it’s usually more beneficial to attend an auction with many units available. Storage facilities typically wait until they have 10-20 abandoned units before hosting an auction, and larger facilities may host auctions every 2-3 months. Therefore, it’s important to research the storage facility you’re interested in before attending an auction to know what to expect.
Storage unit auctions are usually free, although larger auctions may require a small entry fee. Make sure to set aside 3-4 hours for the auction. Bring as much cash as you’re comfortable spending. Most auctions take some time, so block off 3-4 hours on your calendar for the event. The best way to find and attend a live storage unit auction is to only bid with cash.
Storage units can range in price from $25-$5,000, so it’s important to have a budget in mind. Storage unit prices can change drastically based on the bidding environment, so it’s important to be prepared for anything. Storage unit auctions are a great way to find rare and expensive collectibles or electronics. You should attend storage unit auctions as soon as possible to get the best deals. Research the auction before attending to get the most accurate information about your buying.
The event is open to the public and takes place in multiple locations. The auction houses will hold auctions regularly and post the dates and times on their websites. Auction houses adhere to international copyright laws. To find a live storage unit auction, visit the website or call the toll-free number. The auction will be held in a public location and is open to the public. It is important to arrive early to get a good spot.
How can you buy abandoned storage units?
Abandoned storage units, or “storage lockers,” are typically found in the back of a warehouse-type building. Storage lockers are typically rented for short periods and offer a great deal of storage for a low price.
Step 1: Look for auctions online or in person
Storage unit auctions are a great way to find storage units at discounted prices. You can find storage unit auctions by visiting https://storageauctions.com/ and https://www.storagetreasures.com/. To find storage unit auctions, look online or in the newspaper.
Step 2: Find a storage unit that you’re interested in
To find an abandoned storage unit you’re interested in, search online or contact your local Abandoned Storage Unit Association. Make sure to get permission from the property owner before entering. Contact storage facilities in your area to find out when they host auctions. Search online to find storage facilities in your area. Call each facility individually and ask when they host their abandoned unit auctions. Storage facilities hold auctions every 1-6 months, and it’s usually more fruitful to attend auctions with many units available. Storage facilities typically wait until they have 10-20 abandoned units before hosting an auction.
Step 3: Bid on the storage unit
To bid on an abandoned storage unit, you must contact the property owner and agree to their terms. In addition, you will need to be prepared to pay the asking price and take on any risks associated with the unit. Bidding on an abandoned storage unit is a risky business, so be prepared for potential setbacks.
Storage facilities often hold auctions for abandoned units. There is usually no fee to participate in these auctions, although larger auctions may have a small entry fee. Setting aside a few hours for an auction is important as they can take some time. Storage facilities only accept cash, so it’s a good idea to bring as much as possible within your budget, as prices can change quickly and exceed $5,000 on rare occasions.
When bidding on abandoned storage, be prepared to pay a higher price due to the rare or expensive items that may be stored there. Be aware of any security concerns before entering the unit, as it may contain valuable items. To bid on an abandoned storage unit, you need to know the location and condition of the unit, as well as be prepared to spend money on repairs or renovations if necessary.
Step 4: Earn money on the goods that you find in the storage unit
Abandoned storage units can be a great source of income if you know what you’re doing. To make money from an abandoned storage unit, you’ll need to identify what you’re going to sell, where to sell it, and how to sell it. You may have a pile for sale at a garage sale, one pile for the scrap yard, and one pile for individual online sales. Before you sell your goods, you need to decide where to sell them. You can make money from abandoned storage units by selling the goods inside.
What is the most common valuable item found in abandoned storage units?
The most common valuable item found in abandoned storage units is usually jewelry, but some people also find cash.
$7.5 million of cold hard cash. The most valuable find on Storage Wars was a cache of cash: $7.5 million hidden inside a locked safe. The winning buyer of the locker found the safe inside after the self-storage auction and took it to a locksmith. When the safe was opened, the new owners were stunned to find a fortune in cash.
Shortly afterward, a lawyer contacted the winning couple saying that he represented the original owners and offered a reward for the return of the cash. The new owners eventually settled for a $1.2 million reward in exchange for returning the rest of the cash.
People often find valuable items in abandoned self-storage units. Of course, the most common valuable item found is furniture, but sometimes people find bags of clothes or even old cars. There was even a story about someone finding James Bond’s car in a public storage facility!
What can you discover in a storage unit?
Here are some true-to-life stories of the most valuable items discovered in storage units:
A Zamboni
In an episode of the hit reality TV show “Auction Hunters,” a lucky bidder won a machine used to groom ice rinks called a Zamboni. This motorized vehicle can sell for anywhere between $ 80,00 and $150,000, depending on its quality and age.
Rich Schur, the owner of Schur Success Auction and Appraisal and the auctioneer at that time, said that he had no idea that storage treasures were buried underneath the tarps in that climate-controlled storage unit when he hammered down the winning bid. He only found out about it when he had the chance to watch the episode much later.
A Michael Jackson exclusive collection
According to Larendee Roos, the executive vice president of Extra Space Storage from 1986 to 2003, there was a unit in her facility that contained more or less 15 items that belonged to the late King of Pop. Michael Jackson’s assistant was managing the unit at that time. Following protocol, when the unit’s status went into default, they had no choice but to use bolt cutters on the lock and see what was stored inside.
They found an assortment of items ranging from stage costumes Michael Jackson wore at some concerts to a trunk with random contents.
At first, they thought the unit belonged to a collector of Michael Jackson memorabilia until they dug and traced it back to his PA, who signed the contract under a production company. In the end, the PA explained that he had forgotten about it and had asked if he could still take the items from the unit, which the management agreed to. But, ultimately, he moved all the items out.
A Lamborghini
A two-year-old orange Lamborghini that cost a quarter-million dollars was found in a storage unit in Colorado.
The vice president of Cutting Edge Self Storage Management, Matt Van Horn, said it was one of the most expensive items he had ever seen in a storage unit.
Lamborghini eventually inspected the facility to ensure they met the criteria to store one of their luxury supercars. Matt tracked down the car owner using the information he found on the supercar’s $5,000 monthly insurance, and they promptly resolved the renting issue.
A magazine collection worth $100,000
A man from Dallas paid $300 for a storage unit he thought was housing used Hyundai car parts. However, he did find what he was looking for and more. Inside the storage unit was a complete collection of Sports Illustrated magazines in mint condition, some copies are even autographed by the celebrity on the cover. This collection is valued at $100,000.
He also found old reels of tape interviews with some athletes and other sports-related celebrities, including Donald Trump, who owned the now-defunct football team, the New Jersey Generals.
A teddy bear with $300,000 cash in it
A homeless couple was searching for a coach to bring to their camp in a desert in Arizona. They found a unit with a ratty couch with an old teddy bear sitting on one of its arms. They bid $10, which was the minimum. Nothing was visibly interesting about the storage unit, so no one else was interested. As they started packing away their haul, they discovered a tightly wounded wad of cash worth $300,000. They kept the money, paid their taxes, and hired a lawyer that would defend their claim on the money.
Gold and other valuables worth $500,000
Whether or not the auctions on the Storage Wars were staged, contestants Dan and Laura Dotson run real-life storage auctions. A bidder at one of their American Auctioneers events paid $1,100 for storage treasures that would make a pirate green with envy. They found $500,000 worth of silver pieces and gold bars in an anonymous blue Rubbermaid container. A load of precious metals was so heavy that it took three men to remove it from the locker. Yarrr, now that’s a lot of pirate booties!
FAQs
We have compiled a list of frequently asked questions about buying abandoned storage units below:
What should I consider before buying an abandoned storage unit?
When considering the purchase of an abandoned storage unit, there are a few key factors to keep in mind. First, be sure to research the property and assess its safety. Second, have the funds available to cover any repairs or damages that may be necessary. Third, get a lease agreement if you need to move quickly. Fourth, inspect the contents of the unit carefully. Fifth, check photos online and in person to get an idea of what is inside and its value. Sixth, look for labels on boxes and bags to determine what may be inside. Finally, always be aware of potential hazards when buying an abandoned storage unit.
How do I know if the contents of an abandoned storage unit are worth the purchase price?
When looking at an abandoned storage unit, you will want to check for things that could give you an idea of its contents’ value. This includes the property address and owner information, any signs of vandalism or fire damage, the presence of security features like metal detectors and cameras, and the condition of the unit itself. Inspecting the unit’s contents before purchasing it is also a good idea. Photos can be helpful in this regard, but be sure to inspect the unit itself. Storage units can be risky investments, so it is important to be prepared to lose money if the contents are worthless. Always be cautious when exploring abandoned storage units, as valuable items may be hidden inside. It is also important to research the unit’s location before entering to avoid getting scammed ware of any security cameras in the area and take precautions to avoid being caught on camera. If an auction is taking place online, you will not be able to bid on an abandoned storage unit due to its competitive nature. However, if you are attending a live auction, look for factors such as age, condition, and location when determining the value of abandoned storage units up for sale.
What are the risks of buying abandoned storage units?
There are some risks associated with buying abandoned storage units. One risk is that you may not know the condition of the unit before you purchase it. Another risk is that you may not be aware of potential scams. Therefore, it is important to do your research before investing in an abandoned storage unit.
Are there any legal restrictions on buying abandoned storage units?
State laws differ on whether or not it is legal to buy abandoned storage units. In some states, it is legal to purchase an abandoned storage unit, while in others, it is not. Therefore, it is important to research the legality of buying an abandoned storage unit in your state before making a purchase.
Storage facilities often hold auctions for abandoned units every 1-6 months. State law allows storage units to be auctioned off for free, although larger auctions may require a small fee. The prices of abandoned storage units can vary wildly, and it’s easy to get carried away when bidding. It’s important to stick with a budget when bidding on abandoned storage units to avoid overspending.
When purchasing an abandoned storage unit, it is important to be aware of the state laws in your area regarding such purchases. The buyer usually has the right to inspect the unit before purchase and may have the right to cancel the purchase if they find any undisclosed problems with it.
What are prohibited storage auction items?
It is illegal for the storage company to sell confidential, legal, or medical items. Therefore, you should never bid on a storage unit where you can see documents marked as these types of items.
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