Getting In The Storage Auction Business 2010
urbanpackrat.com As everyone knows, there are two shows about storage auctions ( Auction Hunters) and ( Storage Wars -comes on tonight) and they are the reason for much conversation going on in the USA right now. I am on the receiving end of a lot of emails about the business. Just let me tell you right now, there is a lot more to it, than you are being shown on TV. So listen up for some of the things you can expect!
@chris13343 – I think it is a good show, you like must people understand it is TV and can make a judgement based on that. I have completely fallen off the adding the links to the videos, you can purchase the ebook on my blog – w w w urbanpackrat thanks for watching!
I’m a total fan of your videos. What did you think of the Storage Wars program. My wife and I make a point to catch most episodes. I’m a realist though. I understand the kind of money those bidders are working with. I also realize I am not going to find the kinds of things they find, all the time. Thanks for doing the videos. Where can I find this book I keep hearing you make mention of in the youtube posts? Keep up the good, informative, and entertaining work.
@chelseapokaspots -Morning!
Hi Glendon!
I don’t think you should have any expectations when you first start out. I believe you should have reasonable goals, but not expectations. Who are you to expect anything as a newbie. Be Humble!!
@desertgreek – It has never happened to me, but I heard of it and in the last three years unit thefts have been on the upswing. Sorry this happened to you,it is a total pisser!
@Glendon007 they only have a camera entering and leaving the property, it obviously happened between the hours of 630 pm and 8 am, So the timeline is pretty short, but they told me that they did not see anything on the video. Filed a police report, but they said that without serial numbers theres little chance they could recover anything. Been at this for 10 years, never had anything like this before.
@desertgreek -Asked them to check out the tape, more than likely it was another bidder, who thought they would get a five finger discount. If the storage property does not want to work with you, then you need to push it because something is way wrong. Is this a new or old property?
@PickerBrad
they are getting burned like crazy, but more keep coming out like crazy. This one couple bought a unit for 500 dollars last month and they told the manager that they made a mistake and no longer want the stuff. So they called me and I told them I would empty it for them if its free. They agreed. Some idiots bought a 40 foot locker for 2300 that was filled with garbage. I mean real garbage. I wouldnt take it for free. It was trash
They wound up renting the locker. Suckers
I would like to share a little story with you guys,,, bought a real nice unit last Friday afternoon, put my lock on the unit, paid my 810 dollars, and when I went to pick up my stuff Saturday morning at 8 am, Theres a different lock on my unit. So I waited for the manager to show up, 930 the manager shows up and they say that they know nothing. Then I go get a bolt cutter and cut off the unknown lock. Well guess what, they ripped off all the great stuff I just bought. no money back,pissed.
Couple things to consider. The owners of the storage business have probably already gone through the unit. 2nd, most people are NOT going to abandon items that are thousands of dollars in a storage unit because they can’e pay the $40 a month rent. Sure, like this gu says, it does happen, but not nearly as frequently as it does in the show.
That is right on the money!! I tried it this past weekend. 16 Hours driving all over San Antonio TX waiting around for an hour for 68 different auctions that went for high prices due to the Storage War Fever going on. I would add up what I would see right off the bat totaling to $150. But at starting bid you would have an idiot screaming $500!!! So Listen to this man he knows what he is talking about.
If you have noticed at least with Auction Hunters… The NOOBs are Coming Out In Droves….. I give em a Year before 90% go Broke. About 10% will stay in the Business.
I was soooo lucky to get in with a few people a few weeks before the shows hit, it I was getting in this week I would have a VERY hard time with it!
Glendon, we gotta get you on Storage Wars. I wanna see you put Dave Hester in his place.
@hippytreehugger4ever – now that is cool, you have people selling stuff everywhere! Thanks for the comment!
@inarticulate – thanks! You can make money in this business, but it is not easy, that is what will kill it for many people. I appreciate the comment!
I like this guys attitude.
hi glendon,
great commentary. your honesty and wisdom is greatly appreciated. i try to learn things everyday and your analogy of a person looking for the remote control is a brilliant observation of human nature. people are looking for get rich schemes like flipping homes and now flipping storage lockers… and i think a lot of people in desperate financial situations are going to get burnt trying to get into storage auctions. keep up the good work!
I do this at estate sales instead of storage lockers (middle of Nebraska, not many storage auctions around here). At the really big auctions where they have tons of what seems to be crap, they will auction off entire tables for $2-3. I buy those lots and have giant garage sales with it. Best finds: first edition Hans Christian Andersen book of fairy tales in Swedish (sold for $720),first edition Wizard of Oz book (sold for over $400), and an 1880′s time lock to a bank safe that sold at 1,410.
@Glendon007
Well I’m really happy for you
I find it fascinating although I would never get into it myself, not because I don’t believe in it, I just don’t have the knowledge or the means to get into it. I think I’ll subscribe to your channel because I think it’s sort of an adventurous business you action buyers are involved in. Keep making money, man! 
@thundermorphine – i use to spend about $150 a week on fuel, there are costs associated with just *looking* taxes can be high, if you do not have a business! As for making a living, it was very doable! In essence I am still making a living off of it by selling my knowledge of the business, the rooms just keep on giving!
@rbsimba -you nailed it and it does happen! Except it is not the tenant doing the staging….
What is staging a unit? Do people make a room look really good and let it go to auction?
I think this is an interesting market and I love both Storage Wars and Auction Hunters, but I don’t think it’s something I would ever get myself involved because I don’t like having a lot of stuff around.
I’m not from the US and I don’t know how much tax you pay over there, but I don’t know how you make a living out of it. I applaud you for managing but I don’t understand it. Like, how much money do you auction buyers spend on just gas every day?