We all prefer to hear the stories about profitable storage units. But to make money in the long run, it's just as important to learn from the stories about the units that bidders wish they would have passed on. At Storage Treasures we want you to get the best units at the best price.
So here's a few insider tips, so you can identify the risky units & focus your money on units that yield profits!
#1 Look for clues a unit may have been picked through.
In most states, units are required to be opened pre-auction for an inventory. This provides an accurate listing of the contents in order to avoid scams, but ironically it can open up the possibility for valuables to be removed. A great way to avoid this problem is to attend auctions at facilities that post detailed inventories, unit photos & videos of the inventory.
Click these images for a real StorageTreasures.com listing from a facility that posted this info.
If your favorite facility isn't posting this information, tell them to contact us!
And although pre-auction inventories are usually conducted, most facilities do not enter the unit during the inventory (although the law allows them to in most states). This greatly lessens the risk that a unit has been tampered with.
#2 Before the auction, ask the manager & auctioneer about their inventory procedures.
*Do they enter the unit?
*Do they have a witness present?
*Do they videotape the inventory & post it online? Below is a real inventory video with a witness.
#3 During the auction look for clues in the unit.
*Is there dust?
*If so, then footprints or fingerprints might be a red flag.
*Maybe a tenant removed their valuables before letting the unit default.
#4 Don't bid on units that may be staged.
Prior to auction it's possible that an unethical facility or unprofesional auctioneer could rearrange a unit to entice a higher bid. With a little practice, you'll be able to easily spot these units. Until you master this skill restrain from buying unless you get it cheap enough to warrant the risk!
Here are some things to look for in a unit that might be staged:
*Are valuables clearly displayed in the front of the unit or on top of things?
*Are there boxes with brand names facing you?
*Do the boxes look too light?
*Or too clean to have been sitting in storage?
*Do the brand names look out of place amongst the rest of the contents?
The bottom line: There is no shortage of good units. Take your time and focus on making good buys & your patience will pay off!
P.S. We'll have more insider tips available soon...
Be on the lookout!