This business of buying Storage Units is not for everyone. But it sure is for me. I got fired from a landscape job 36 years ago, became a Storage Unit Buyer and never looked back. I have learned thru trial and error how to make money in this crazy business. There were times when I could not compete with the other buyers because I did not bring enough cash. This is a cash business. Every time you buy a locker you’re going to use good old cash. No, no credit card, no second chances. You learn fast or you’re out of business. The worst locker I ever purchased was a locker full of great looking oriental furniture. The furniture looked high end, carved furniture, porcelain statues and lots of boxes neatly packed. I paid $4,600 for the unit. As I began to move boxes around, mice started running everywhere. The locker was completely infested with mice and rats. Live mice, dead mice, rat feces, rat urine soaked the entire contents. Oh yeah, and no matter what you buy, you are responsible to entirely clean the locker out. After the initial disgust and sinking feeling subsided, we put on our hazmat face mask and gloves and cleaned that rat hole out. GROSS!! : And expensive. You win some you, lose some. Rarely do I take such a beating on a locker.
Now let’s talk about the good stuff. This year alone I have hit big twice. The first really great locker was the Gutierrez Art locker that you probably saw. There is another phenomenal locker that you will see later in the season. (I cannot say more right now, keep watching) The high that comes with a great locker is unbelievable. This is my drug. This is my addiction. I have often described this business as feeling like I did as a young child on Christmas morning. Nothing is more exciting to me then the rush of opening a box and finding a treasure. People always ask me why anyone would leave their treasures in a locker. Well people, it happens every day across the nation about 3,000 times a day. Each day in the USA there are at least 3000 storage unit auctions. Some of the reasons may surprise you. The most common reason is that people use their credit cards to Auto Pay their bills. When a credit card expires if it is not renewed, the unit is auctioned off. Sometimes people inherit a storage locker and really have no idea what was left behind. They pay for 10 or 20 years and finally just get tired of paying, having no idea what they left behind. I hit 3 lockers this year that were contents of a retail store that closed. Look around people at all of the vacant retail locations in every city. Most business owners do not quit trying overnight. They will typically “store “the contents of their store or business hoping to reopen when they can. Life is tough; storage is a way for people to remain hopeful; Hopeful that they will replace their store, large home etc. Sometimes they are able to regroup and other times it just isn’t in the cards. Keep in mind that any amount collected at an auction that is over and above the amount that the renter owes, goes back to the renter. In other words if a renter owes $600.00 and the unit sales for $3,600 the Storage facility by law has to return the money (in this case $3,000) to the renter. My best advice to anyone that wants to get into this business is “Go with your instincts, and bring lots of cash” Best advice to a person storing property. “Pay your rent! And check your messages!”
Thanks for visiting. Darrell