At our recent ISS Expo in Vegas, the topic of self-storage garage sales was bounced around for a bit, and I began thinking about the possibilities. The thought made me imagine self-storage facilities looking like flea markets, opening regularly on fair-weather weekends.
I enjoy stopping at flea markets, garage sales and second-hand stores and uncovering a great buy. I pleasure in renewing someone elses recyclables, items with a history of their own, and paying only a pittance of the new price. It also reminds me of when we were kids optimistically on the lookout for treasures everywhere: rocks with mica, bottle caps, sea shells and, of course, diamonds and gold, of which we were certain wed find somewhere, somehow, someplace.
I know Im not the only one who likes to hone in on a good deal, so out curiosity, I did a Google search to gain insights on the popularity of self-storage auctions. The hits included an article, How to Make Money With Self Storage Auctions on www.ezinearticles.comand a book by Barbara Rogers, How to Make Boxes of Cash With Self Storage Auctions, at www.authorhouse.com. But these were only two mentionables amongst the 279,000 hits. Can you imagine? And self-storage garage sales brought an equally alarming number of hits at 178,000.
The key-word searches called up sites for everything under the self-storage sun, including auction houses and auctioneers, sites that listed sales geographically and by location, and many tips for those looking to make a mint by mining auctions on their own.
With so much Internet chatter, I can only imagine this has become another business all its own. But I also cant help but wonder what it means from the self-storage owner/operators point of view. Is there pressure to push delinquent renters out and put their belongings on the auction block as quickly as possible? But could someone elses big win turn into a lose-lose for facility operators?
During the discussion in Vegas, I could see attorney-friend Jeff Greenberger wince at the thought of self-storage lien sales and garage sales being conducted without particular, specific legal care. He cant help it; its his job. And its my job to remind you that operating a business shouldnt be a gamble.
Take heed, and take good legal storage-auction advice. Youll find many articles on the ISS website. Tired of reading? Then take a backseat instead and listen up during an audiocast on the topic at our Self-Storage Training Institute. Click here for details.