Storage Auctions: Find Storage Auctions, Storage Auctions, Self Storage Auctions (2023)

FAQs

How do I find out about local storage auctions? ›

You can find storage unit auctions by contacting nearby self-storage facilities or doing a Google search for “storage auctions near me” (many auctions take place online). You can find storage unit auctions online through popular websites like StorageAuctions.com or Storage Treasures.

But when asked about the show's authenticity, Brandi was insistent that their hauls are 100 percent real. "They're public auctions. It would be collusion, which is against the law, to tamper with any of the storage units prior to [the auction]," she said, "because anyone can come to these auctions."

Know Your Storage Auction Rules

Bidders bid on the contents of the entire storage unit, not on an item-by-item basis. The auction of each unit is open, so there are no sealed bids. The unit is sold to the highest bidder. The winning bid must be paid in cash upon winning.

Self-storage unit auctions happen when storage tenants fail to pay their rent on time. After 30 days overdue, storage facilities can typically put a lien on the contents of the renter's unpaid unit.

Dave Hester, 'Storage Wars'

Getty Images A&E rescinded a contract option to Hester after learning that he spent 45 days in jail stemming from a felony drug conviction.

Ivy Calvin — $1.5 million

As it stands today, Ivy Calvin has a net worth of $1.5 million. Some people even consider him the King of Palmdale! When it comes to being part of Storage Wars, he's a no-nonsense buyer who's all about making as much money as possible.

The people behind Storage Wars, for whatever reason, didn't get the memo. In his infamous lawsuit against A&E, Dave Hester revealed that not only do its producers plant items in lockers and play favorites with cast members, they also pay people to script every interaction that the show's cast has with the camera.

Self-storage facilities can report their tenants' monthly payment status to credit agencies, just as credit card and loan companies do.

Are storage units a waste of money? Very short-term, a storage unit can be an affordable means of storing belongings. Long-term, it is typically a waste of money, since most people end up paying more for the unit than the stored items are worth.

Is buying storage units at auction a good investment? ›

Absolutely. Whether you're the storage owner or a bidder, there is profit to be made on auctions. However, there are some risks. If you're the owner and are auctioning, you would need to accept a bid high enough to recoup the losses from the previous renter's failure to make payment.

Storage units are often left to auction when a customer defaults on paying their bills. While every effort is made to come to an agreement with the customer, if this isn't possible, storage units are often offered to the highest bidder at auction in an attempt to recoup some of the debt.

Profitability is in the eye of the beholder. But, generally speaking, a self-storage business can be profitable. In fact, it can be more profitable than many other types of business out there. “Self-storage has evolved from the homely stepsister to the Cinderella of the commercial real estate industry.

Mark Balelo, the flamboyant auctioneer who appeared on A&E;'s “Storage Wars,” was found dead in his car on Monday morning, in what appeared to be a suicide. According to the Ventura County Medical Examiner's Office, the 40-year-old Balelo died of asphyxiation from carbon monoxide and exhaust fumes.

According to TMZ, Mark Balelo was found deceased in his car, parked in the garage of his Simi Valley, California auction house on February 12, 2013. Later that day, ABC News confirmed that the Ventura County medical examiner's office ruled it an apparent suicide.

Jarrod and Brandi are parents to two children, daughter Payton, and son Cameron. She often shares snaps of her children on her social media accounts but in a post said she stopped because some “creepy a** dudes were harassing them.”

Gold, silver & coins worth $500,000

A bidder at one of their American Auctioneers events paid $1,100 for a storage unit and discovered a cache of treasure that would make a pirate green with envy. In an anonymous blue Rubbermaid container they found $500,000 in silver pieces of eight and silver and gold bars.

"Storage Wars" star Dan Dotson sold a man a storage unit for $500. The unit contained a safe with more than $7.5 million. After conferring with the original owners of the safe, the man walked away with $1.2 million.

1. $7.5 Million of Cold Hard Cash. The most valuable find on Storage Wars was a cache of cash: $7.5 million dollars hidden inside a locked safe. The winning buyer of the locker found the safe inside after the auction and took it to a locksmith.

Did Storage Wars get sued? ›

The items uncovered in the storage units are the actual items featured on the show." Hester sought out $750,000 in damages from A&E and Original Productions for wrongful termination.

The owner can sell the contents of your storage unit if no payment has been received for a continuous 30 day-period after you default. At any time before the sale of your belongings, you may pay the amount necessary to satisfy the lien and the reasonable expenses incurred and get your belongings back.

The address of the self-service storage facility or the address where the self-contained storage unit is located and the name of the tenant. 3. The time, place, and manner of the sale or other disposition. The sale or other disposition shall take place at least 15 days after the first publication.

If you don't pay within 14 days, the manager can put an ad in the newspaper advertising the sale.

In a word, yes. Just how much annual income can storage facilities generate? Your profit will depend on several factors, including the size and location of the facility, whether you used a loan to acquire the property and how you're using the facility to generate income.

While growth rates are projected to remain steady, the self-storage industry has a strong track record of a high return on investment for most facilities. From 2009 to 2018, self-storage facilities averaged an annual ROI of 16.9%. This number was higher than office, industrial, retail or apartments during that time.

The auctioneer may receive a flat 15-20% of the maximum bid price. Assuming the unit sells for $1,000, for instance, the auctioneer would receive $150-$200, paid for by the self-storage facility. This obviously encourages the auctioneer to raise the bids, as higher bids means more money in his or her pocket.

After a lease has ended, landlords must send notice and store tenants' belongings for 18 days while waiting to hear from the tenant. If the tenant doesn't respond within 18 days, landlords in California can begin selling or disposing of the items.

How Long Does Foreclosure Take? In Georgia, the foreclosure process can vary depending on your circumstances. However, on average, it takes about one to three weeks to complete. If your property was sold at a foreclosure auction, the eviction process takes about 14 to 30 days.

Many judges will give you 60 to 90 days if you attend the hearing. The amount of time you have left on the property will primarily depend on the motivation of the new property owner.

Is storage taxable in Florida? ›

Each sale, admission, storage, or rental in Florida is taxable, unless the transaction is exempt.

Commercial storage units have slightly different rules than regular storage units depending on the scale of the business. But remember, unless you rent an office, retail or commercial space specifically, you're not allowed to work or conduct business inside a storage unit.

Your Storage Unit Will Go Into Default

To put it simply, this is the maximum amount of days that you can go without paying rent before things start to get real. It's usually about 30 days. Once you're in default, you'll be locked out of the property and out of your unit.

In Illinois, property is assumed abandoned when it remains unclaimed for at least five (5) years and attempts to contact the owner of the property have been unsuccessful.

66-31-106.

(1) The rental agreement shall contain a notice stating that all property stored under the terms of such agreement may be sold or otherwise disposed of if no payment has been received for a continuous fifteen-day period when due.