How To Start, Operate And Grow A Storage Units Buying And Flipping Business
Starting, owning, and operating a storage unit flipping business can be profitable, with many flippers making thousands from a single unit. Diving into storage unit flipping—buying abandoned or auctioned‐off storage lockers and reselling their contents—can be extremely lucrative! Just as with any business however, success hinges on auction strategy, resale channels, labor inputs, and your ability to identify hidden value quickly.
Profit Potential
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Many flippers report gross profits of $1,000–$5,000 per unit when they unearth high-value items like vintage furniture, electronics, or collectibles.
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A handful of entrepreneurs have grown this into a six-figure annual venture, especially when reinvesting profits into more auctions and scaling operations.
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Beyond direct resale, you can monetize content—YouTube “unboxing” videos, restoration side-services, or wholesale deals—to boost overall return
Hello! My name is Karen, and I am a homeschooling mom of four
children. I spend a lot of time online helping other moms, posting
information on Yahoo lists and answering questions. I decided that I
would write this eBook just like I write my posts – mom to mom. So sit
back, relax, and open your mind to a new idea.
If you are reading this, I figure that your family is like my family – the
dollars seem to run out before the end of the pay period. My husband is
currently paid once a month and that last week of the month gets
interesting. My kids call it the “oatmeal and beans” week, referring to
my favorite inexpensive but healthy meals that pop up regularly towards
the end of the month. I have tried and tried to find ways to bring in that
bit of extra money that makes so much difference to us – if I have read
one “how to make extra money” book, I must have read 200. Can you
relate?
Mm-hmm, you’ve been there too. Now raise your hand if you’ve tried
party plans? Direct selling? Mail order? Network marketing? Fund
raisers? Yep – been there, done that and have the tax write-offs (lots of
expenses, very little profit) to prove it. I have been moderately successful
at a networking business, but I don’t like doing it. I don’t like feeling like
I need to tell everyone I meet about it. I am not good at that type of face
to face selling where I have to convince someone that they need a
product that they were not already looking for. I need something that
WORKS, that I LIKE, and that puts real $$$ in my purse. I KNOW that
you can relate to that!
Well, I have finally found a way to make money independently that fits
that description — buying storage auction units and reselling the contents.
And I want to tell you about how I do it.
Do you think that it could work for you, too? I hope so because I really
do like to help people. When you finish reading this eBook, you will have
the knowledge you need to become a Storage Auction Super star yourself!
Own the guide now for only $3 and start your buying and flipping business today!
What is a Storage Auction?
If you already know what a storage auction is, feel free to skip to the
next section. I want to make sure that I don’t leave anything out – that
you will feel equipped and encouraged to try your hand at a storage unit
auction when you finish reading this book.
As you know, storage unit buildings pop up everywhere where there are
people with stuff to store. People store stuff that they can’t fit in their
closets, stuff that they only use once in a while, stuff while they are
moving in or out, and stuff from friends and family. If you have never
used a storage unit at any time, you are probably in the minority.
These units are typically paid for by the month – $30 and up depending
on the size and location of the unit. Here in our area, units are scarce and
start at $30 for a 5 ft by 10 ft non-climate controlled space. In other
areas, especially larger cities, units can start at $80-125 and go up from
there. If someone stops paying their rent, it can add up quickly.
Sometimes people stop paying for the unit without first removing their
stuff. Why would anyone do this?! I would say usually due to a life crisis
of some sort. I do not have statistics on this but my guess is that the most
common reason is divorce or separation. Other reasons may include a
death in the family, illness, or a sudden financial reversal such as
unemployment.
When someone stops paying the rent on their unit, the owner of the unit
begins a legal process whose object is to either cause the current renter to
pay up or get their stuff out of there so it can be rented again to a paying
customer. Remember that the storage building owner is in the business of renting storage units. When a unit is unpaid, they are losing money.
When they auction the unit off, they not only recover some of their
money but, more importantly, the unit is cleaned out and ready to rent
again.
Usually, these storage units go for just a fraction of what is owed in back
rent because of the length of time that it takes to go through the legal
process. There may be as much as $400 to $800 owed on even a small
unit at the time of the auction. Again, the most important objective for
the owner is to get the unit cleaned out to be re-rented. I am stressing this
point because if you understand the why of storage unit auctions, then
you will be able to work in cooperation with the owners, and they will be
glad to see you coming on auction day.
Why Storage Auctions?
Put simply, storage unit auctions are one way to get valuable items for
resale and for your own use. Other ways include going to garage and
estate sales, local auctions, or buying wholesale. All of these methods
can work together to provide an ongoing stream of items to resell,
putting cash in your pocket. The special advantage of storage auction
sales is that you can acquire a lot of items at one time, often for pennies
on the dollar.
I don’t want to give anyone the idea that this is a way to “get rich quick.”
Or even “get rich slow.” No, but this is a great way to put real hard cash
in your pocket through some simple honest work. If you work smart, you
will nearly always double or triple your money, and once in a while you
may hit a jackpot. And it’s fun — like Christmas in July when you start
looking through your winnings.
Own the guide now for only $3 and start your buying and flipping business today!
Not only are you helping yourself, but I truly believe that reselling is a
time honored way of redistributing stuff: It gets it from someone who
doesn’t need it to someone who can use it – keeping it out of the
landfills. And YOU can get paid for performing this public service!
Finding Storage Auctions
So — where do you find storage units that are being sold? Remember that
the storage building owner must follow certain legal steps in order to be
able to sell the unpaid units. One of these steps is to advertise in a local
paper. They will often just use the cheapest local paper; it may even be
one of those local penny advertisers.
Many places will also put the time and day on a marquee out front. The
more people that come to their auctions, the higher the likelihood that
they will recoup some of their losses and quickly get a unit ready to re
rent to a paying customer.
Here is a list of steps to take to find these auctions. You may only need to
do a few of them to find all the auctions you can handle!
● Keep an eye on local papers. Find out where these ads are listed.
Try the Classified Section under Announcements or Legal
Notices for a start.
● Let your fingers do the walking. Call up storage buildings in your
area and ask how they advertise their auctions or if they have any
scheduled. If you get a receptionist, they may not know what you
are talking about. If that is the case, ask to speak to the owner or
manager. You can also ask if they have an email list – most don’t,
but if they do, great! Never hurts to ask.
● Keep an eye on the storage buildings in your area for signs out
front about upcoming auctions. I just passed my favorite storage
building and guess what? The sign is out front – I know where I
am going to be next Tuesday morning at 11 a.m.!
Finding Storage Auctions
● If the storage buildings use an auctioneer, check to see if the
auctioneer has an email list – they often do and this is a great way
to get plugged in. You may also find out about estate and other
sales in your area conducted by that auctioneer.
● Network – ask others to keep an eye out for you. Most people are
intrigued by the idea of buying storage units. My neighbors think
it is a hoot when they see us bringing our finds home.
● Search online at:
● www.auctionguide.com
● www.auctionzip.com
● http://www.luv2bid.com/
● Bookmark the auction sites in your area and keep an eye on them.
As you learn and grow, you may decide to branch out to other
types of auctions and you will already know where to find them.
Getting Ready
● Make sure you know where the location is and what time the
auction starts. You want to be at least 20 minutes early as you
will need to sign in. Only those signed in can bid on the auctions.
● Take CASH. There may be some auctions that accept other forms
of payment but most only take cash and they all will take cash.
They will not wait for you to run to the bank – they want
immediate payment in green bills. Do carry your cash safely –
large auctions can attract pickpockets.
● A powerful flashlight can be helpful, whether you can only look
in the unit from the front or whether you are allowed to go in and
inspect.
● Take a lock (or locks if you might buy more than one unit). If you
win a unit, you will need to be able to secure it.
● Think about what you will need if you win an auction. If it is the
type where they are just selling off piece by piece, then you need
a vehicle large enough to cart off your winnings. If you will be
buying a whole unit then…
● Take garbage bags, rubber gloves and boxes (not too many –
usually you can utilize the boxes in the unit). A bottle of
multipurpose cleaner can be helpful. These items will make more
sense later.
● Water. Storage unit auctions can be dry and dusty.
● Do NOT take the younger children. Many places do not allow
children under 16 and even if they do, you need to focus on what
you are doing. If you are a single mom, trade babysitting with a
friend or let her take a pick out of your winnings – she will be
thrilled!
Own the guide now for only $3 and start your buying and flipping business today!
Getting Ready
Checklist:
✔ Cash
✔ Flashlight
✔ Lock
✔ Transportation
✔ Garbage bags, rubber gloves, boxes, spray cleaner
✔ Water
✔ A plan for sorting and disposal
What Will Happen that Day?
As I mentioned before, you will need to sign in. And then you hang
around watching the other potential buyers rolling in. Don’t be
intimidated!
Typically I get to an auction and find out that there are only
one or two units to be sold and here come all these guys who look like
they do this for a living. I listen to them brag about their “big catch” —
the storage unit where they got thousands of dollars of furniture for $500
or whatever and I start thinking that no way am I going home with a unit
that day.
Guess what? Often, I am the one who ends up with it. Why? I think
because a lot of folks go for the thrill and the “big one”, looking to see
what is behind “door number one.” Maybe the door will open to a
motorcycle or a big cache of tools or antique furniture. Who knows? It
has happened before. Listen to my friend, Bob Willey…. I bought a 1980 Honda 750cc Custom M/C w/Temporary Tags still on it that was buried underneath boxes. Paid $325, got $1000 for it.
At my favorite place, they love to tell the tale of the big unit with a
$2000 foosball table and lots of Ethan Allen furniture that went for $800.
No one wants to miss that. BUT — they may not be interested in buying a
unit with just some boxes and miscellaneous items — we are! They don’t
want to spend $100 and apply an ample amount of elbow grease in order
to triple or quadruple their money, but we do. And some buyers may be
looking for specific items like tools, washing machines, lawn mowers,
etc.
What Will Happen that Day?
Don’t get me wrong. I am not being sarcastic or putting these ladies and
gentlemen down. Everyone has their own plan and their own reason for
being there. I just want YOU to realize that the others may be there for a
different reason than you or I so that you won’t lose heart. An extra $300
to $500 makes a huge difference to my family. When I can do that
several times a month, there are a lot more extras around here.
So don’t get psyched out while you are waiting. Have fun with this – life
is too short not to!
Okay – so it’s time for the auction to start, and the owner (or the
auctioneer) goes to the unit and reads the legal mumbo jumbo. Then he
opens it up (it is possible that it will be auctioned it off ‘closed door’ but
not too often – that would actually work in our favor because those tend
to go very low). Typically, you can only look in from the front of the unit,
but sometimes you can go in.
Own the guide now for only $3 and start your buying and flipping business today!
What you look for will depend on your particular situation. Until
recently, we did not have a truck. If the unit contained large items like
furniture, that would rule it out for us unless we knew we could borrow a
truck. I like to see a lot of neat boxes because these will often contain
great resale items. I give it the sniff test as well, hoping that it will not be
extremely moldy or give evidence of housing vermin. This is probably
the toughest part. Just glancing in and deciding how much you are
willing to pay for that particular unit in just a few minutes.
If you are like me, that may be decided in large part by how much cash
you have that day. When we went to our first auction, I was
overwhelmed by how many other folks showed up. And then there was
only one unit. But when they opened it up, it was really shabby looking, clothes thrown around and open junky boxes.
The bidding started with a sealed bid for $25 and went up to $35 quickly and then stalled. So, the owner walked in and started calling out items that he saw. He went to a large box and announced that it was full of dolls in boxes and held up
something that was obviously some type of anniversary Barbie. That is
when I start nudging my husband and we had a furious whispered
conversation during which I convinced him that it would be a shame to
let it go for $35. We ended up the proud owners at $45! I was SO
surprised.
I will continue that story in the next section, but let me finish with this
section first. Once you decide on your top price – do NOT get caught up
in auction fever. Remember that with buying and selling, you make your
money when you buy – if you pay too much, you will not profit. Storage
unit auctions do involve a bit of a gamble. You can’t see everything in
there and even what you can see may have hidden flaws.
I operate on the principle that most people do not store total garbage and there is almost sure to be something that I can sell on eBay, or at a garage sale, or
through my buy/sell lists. So stay low when you get started – it is okay to
walk away empty handed. Count each experience as a valuable learning
lesson and you won’t be disappointed.
Speaking of walking away empty handed, this is what happened to us
this week. Though there were 3 units up for auction, only one was worth
bidding on (one had almost nothing in it and another was filled with
business papers). When I looked into the one unit that I bid on, I took a
number of factors into account. At first glance, it was the kind of unit
that I like – full of boxes and miscellaneous items. There were two full
sets of golf clubs and I know someone who will take those off my hands
for some quick cash. But there was something about the unit that I just didn’t like that is hard to quantify. It was dirty and had a very strong smell – I just had a bad feeling about it. This gut feeling, coupled with the fact that we were going out of town in a few days, led me to bid low and let it go to another bidder. I did not regret that decision.
If you do win the unit and there are more auctions that you want to bid
on, then lock up your winnings. You may have to pay immediately, so be
prepared for that.
I have been discussing the auction day from the perspective of whole
units being sold at a time. Many auctions, especially those run by an
auctioneer, will sell items by the piece or lot. They may even open the
unit and see if anyone is interested in a particular item. They may pull
out a certain number of boxes, put them on a table and auction them off
as a lot.
At these auctions, you need to draw on your own personal
experience and knowledge. Do not bid on items that you don’t know the
market for – you can easily overspend. If you pay too much, there is no
room to make a profit. Take notes on items that you were attracted to and
then research them at home. This is a learning process that will pay off
for you at future auctions. Knowledge is not only power – it is also the
key to profits!
Maybe you will get lucky like my friend, Trish… …the very first storage auction I went to…. I bought a 10 x 20 bin for $100….sold an antique Jenny Lind crib for $150 out of the lot before I had even started searching thru it. Also, inside this lot
was a stained-glass craft kit AND inside this kit were 6 Christmas gift envelopes with a total of $550 bucks in cash!!! Pure profit!!! I haven’t gotten that lucky since but that was fun!!! LOL
Own the guide now for only $3 and start your buying and flipping business today!
I won a unit, now what?
Now the work begins. And it IS work but it is also fun and exciting! You
will need to evaluate each unit to see what your strategy should be for
getting it cleaned out quickly. Most owners will want it cleaned out by
the end of the day. Some may give you 24 hours – this is a good point to
check on before the auction. You can sometimes pay to rent the unit for a
couple of days but I don’t like to put that extra money into it unless I
have to. I would rather work hard and fast to “get’er done” that day.
At the same time that you are doing you initial “strategizing”, be aware if
anyone is hanging around with an interest in purchasing an item out of
the unit you just won. You can often turn right around and sell something
immediately to one of the other bidders. This is nearly always to your
advantage. You can immediately recoup all or part of what you paid, and
you will have less stuff to move. At one auction I immediately sold a
Craftsman Tool chest to the other bidder – that was all he wanted and I
didn’t want to move it. I sold it for $75, and it was a good deal for both of
us.
This is especially good for large items if you are like me – operating on a
shoe string and with limited storage space. Do take your own situation
into account though. You may have a large garage or storage shed where
you can easily put the stuff. However, remember that to make money and
keep from getting buried under clutter, the name of the game is Turn it
Over. While you don’t want to give stuff away, always holding out for
“top dollar” is not the best strategy in the buy/sell game. You will often
be selling to someone else who will resell that item – take your “cut” and
let it go.
So let me continue with the story of our first storage auction win. That
was the only unit that day so the auction was over. We paid the owner
and took a deep breath. My husband had to get back to his job and mine
was before me. One of the ladies who had bid on the unit stayed around
and asked if she could look with me. That was fine with me.
She wanted some Christmas Village items and other miscellaneous bits
and I sold them to her for $30, nearly paying for the auction already!
Then I set to work. I put out 4 boxes: one for garbage, one for donation,
one for personal items and one to keep. I started going through the boxes
in the unit as quickly as possible. This was necessary for this auction as it
appeared that there was stuff from several different families in there, and
there was a lot of garbage.
This was the kind of unit where the rubber gloves, garbage bags, and cleaner really came in handy. It took me about 3 hours to sort through it all. I ended up with one vanload (minivan with back seats out) that went to the dump, two vanloads to donate to the thrift store, and three vanloads of resalable items to store in my garage.
I could have loaded it and just taken it home. However, I have a teenager
who can watch the younger children so it was better for me to do it this
way. I could work faster without interruptions. My point is to think
through what will work best for you, with the objectives being first to get
that unit cleared out and second to get the stuff sorted so you can convert
it into cash.
A note on safety: You never know what you will find in these units. Be
aware that there may be items that you would not want your children
coming across, such as adult magazines. There may also be items that
you need to exercise caution with, such as *drug paraphernalia. Most
units are going to have normal household items, and I don’t want to scare you out of doing this, just be aware. I like to wear rubber gloves, and I exercise caution when opening a new box, especially when the unit is “junky.” A likely danger item is broken glass. Use common sense and do the initial sorting through without younger children around.
*If you live in an area with a high incident of meth labs, please check with your local law enforcement for suggestions on “spotting” potential meth ingredients and utensils. Common household items are used, and you would not want to re-use these items.
A note on personal items: You will want to save any personal items you
come across such as photos and documents. These are to be returned to
the storage unit owner so that they can be retrieved by the former owner
if they ask. Frankly, this helps my feelings considerably. You may
sometimes feel like you are “taking advantage” of another person’s crisis
in buying these units.
Remember that SOMEONE is going to buy it – it might as well be you. And then you can treat the belongings with respect and be diligent about returning the personal items. Maybe the former owner will not come back, but at least I have done what I can.
Own the guide now for only $3 and start your buying and flipping business today!
You won’t always need to presort. Sometimes it is more a matter of
loading and transporting back to your home. One unit that we won
consisted mostly of furniture and big tubs of Christmas decorations and
other household items. There was very little garbage in this unit, so my
day consisted mainly of getting the stuff from the unit to our garage. I
enlisted the help of my teen and some of his friends.
Be aware that most storage buildings will not allow you to use their
dumpster, so you need to have a plan for disposing of garbage and
unwanted, unsaleable items. In my area, there is a place that we can
dump many items for just a 25 cent fee but I have to be aware of what it
doesn’t allow (for example – old tires). If I end up having to take items
to the landfill, that gets VERY expensive here. The starting fee is $35, I still have to pay for the weight, and it is 30 miles away. (See tips below
for a way to get rid of some of your big unwanted items).
All auctions will have a deadline for having the unit completely cleaned
out. Some may even require a deposit that will be refunded when you
have finished the job. Remember that their objective is to get a clean unit
ready to re-rent! Some places may allow the option of renting for a time.
These are good questions to ask BEFORE the auction, so you don’t find
yourself stuck with no way to get the unit cleaned out in time.
Converting the “stuff” into cash
Okay, so you have won the auction, sorted it out, and you have a garage
full of items to sell. What do you do now?
My first step is to separate out items that I will list on eBay. These are
items with a higher value (generally $25 and up), and that are easy to
ship – easy to ship meaning that I have or can easily find packing and
boxes and it won’t cost more to ship than an eBay buyer would be
willing to pay. See Special Section on EBay.
You will need to do some research on items for which you are not
familiar with the value. You don’t want to inadvertently sell a $125 vase
for $5! One quick research method is to search completed auctions on
Ebay. You have to be signed up as an Ebay seller to do this but that is
quick and easy. Please see the Ebay resources for how to sign up as well
as more research methods. Getting good at research will improve your
profit margins. At the same time, don’t stress over it – you will make
some mistakes and live and learn!
For the other items, I have two main strategies. The first is having a
garage sale. Whether this is a good strategy or not for you depends a lot
on your location. Most people are familiar with running a garage sale,
but let me just say that I have found it much easier to set it up when
selling other people’s stuff. There is no sentimental attachment to get in
my way, or any thinking about what I paid for the item; it is simply a
matter of deciding what I think people will pay for it at a garage sale.
Remember, I want to turn my inventory and convert it into cash. If I get a
decent offer, I take it!
The second strategy is using various local buy/sell lists. A major and
growing option is Craig’s List. You can advertise almost anything on it
for free. If you search on Yahoo and Google, you will also find local
buy/sell lists. These can be amazingly effective and they are free.
Here is the list of those that I use in the Charlotte area. I am listing them
so that you will have ideas about what keywords to use to search in your
own area:
➔ CharlotteNCYardsales@yahoogroups.com
➔ NC_Yardsale@yahoogroups.com
➔ CharlotteAreaCheapcycle@yahoogroups.com
➔ UnionCountyNC_Classifieds@yahoogroups.com
➔ Charlotte-NC-Buy-Sell-Trade@yahoogroups.com
➔ UnionCountyNCYardsale@yahoogroups.com
You can advertise items in local papers. I like to try the free routes first,
but even paid ads can be cost effective for larger items. Some penny
shoppers are very popular. This will vary from place to place. When we
lived in Delaware, there was a classified paper in booklet form called
The Guide and it was THE place to advertise. Everyone picked up their
copy on Wednesdays. In other areas, the little shoppers are just so-so –
you may have to do some testing on this.
Another possible venue is flea markets. I have not personally used this
way to sell items but I know folks who do. You may also be able to
“wholesale” items to flea marketers. While the profit margin may not be
high, this is another way to quickly turn items into hard cash. Be sure to
keep a list of other resellers who may want your items.
Own the guide now for only $3 and start your buying and flipping business today!
There are also local auction houses. Again, this is not an option that I
have personal experience with, but depending on the area, it can be a
great way to clear out those items that you don’t want to eBay and that
didn’t sell at your garage sale. If you want to explore this option, the best
first step would be to simply attend some auctions and get a feel for what
sells well and what doesn’t.
Sometimes if I end up with larger items that I cannot sell or donate for
some reason, possibly because they are broken, I will set them on the
curb with a big FREE sign on them. If you have any traffic at all on your
street, this will get rid of things quickly 9 times out of 10, especially on
Saturday mornings when folks are out garage ‘sailing’. Keep you storage
space for items that you can make money on. If you have a dud, cut your
loss, get rid of it (ideally in a way that doesn’t cost you money), and
move on.
Another way to get rid of items that are not easily salable is Freecycle.
These are Yahoo lists where members can list items to give away. You
will be helping folks, keeping items out of the landfills, and you may
even receive items that YOU need.
One side benefit of winning storage auctions is that you will find items
that your family can use. Remember the Barbies in the box from my first
auction? Well, I had presents for my daughter’s friends for a whole year!
That saved me a bundle. My children sometimes enjoy playing with
some items for a while, and then we sell them. This has also helped them
learn to hold their possessions loosely, being willing to let go of things
they no longer need.
Some notes on particular categories:
● You may quickly acquire a LOT of clothes doing storage
auctions. Unless they are new with tags so that you can sell them
on eBay, or nicer items that can go to a consignment store, I
suggest moving them out in a timely manner, even if it is only to
the thrift shop. You can get buried alive under clothing!
● Inspect furniture carefully for broken pieces or other flaws so you
can represent it truthfully when selling it. Remember that
furniture is one of those categories of items that is heavily
discounted when used so be reasonable when considering offers.
If it is antique, get advice from a knowledgeable source on the
value.
● Test and clean appliances to the best of your ability and then be
honest about the condition when selling. If you cannot test it for
some reason, make clear that you are selling AS IS and accept an
“as is” price for it.
Be sure to keep your receipts when you drop off loads to the thrift stores.
If you file a Schedule A with your 1040 tax return, these receipts can
translate into tax savings (ask your tax preparer for details or look up
Non-Cash Charitable deductions at www.irs.gov).
I have kids – can I still do this?
Yes, you can! If you are in a situation where you have little ones and no
one to help – you may need to create a team. I mentioned before trading
babysitting for some of the ‘take’. This is a viable option. I have also
noted some areas of concern and safety – these include:
● Not taking younger children to the auctions themselves unless
you are certain that it will be safe (and even then there are
drawbacks – you need to concentrate). Babies in carriers or older
well behaved children may be okay if it is alright with the storage
building owner.
● Doing your presorting without the children around due to
potential hazards. This may also be a good idea if you find
something that your children would like but you really need to
sell!
Whenever you come up against an obstacle, instead of letting it defeat
you, do some brainstorming and some networking. The potential solution
may come from the next person you ask.
Make sure that your children understand the benefits to them. If you
have been a stay at home mom whose time is almost solely invested in
your children (been there, I understand), they may resent “sharing” your
time with a business. Or if you work outside the home and your time is
already limited, the same may apply.
I believe that it is good, and healthy and beneficial to our children for
them to observe us growing, solving problems, and overcoming
obstacles. They have a large capacity to understand what we are trying to
accomplish if we communicate and give them that chance. So here are
some suggestions for getting them on your side and working together as
a team:
● Express your dreams and goals to them in language that they can
understand. Be real about your hopes and your plans. Don’t
burden them with unnecessary details or make them worry about
your problems but do realize that they probably already sense or
know more than you may think. It depends on the child, so tread
lightly, but you can build a real connection by giving them a
glimpse of you, the person.
● Invite them to be part of the team. Let them do the jobs that they
are capable of. Some tasks that my children help me with include
cleaning, repairing and testing items before sale, eBay product
research, and clearing out products that have sat too long or have
gone unsold. They encourage me. They get excited because they
know the extra money goes for family extras. They also hope to
snag items that they want! Yes, sometimes they complain about a
garage that is overfull or a mom who is distracted, but all in all,
we work together well.
● Use all aspects of your business to teach life lessons: Making a
fair profit, negotiating with people, presenting items for sale,
organizing, working as a team, using the internet and networking – the list is endless.
If you create the right mindset, you will find your children to be a
positive asset rather than a liability. ☺ Being a mom forces me to work
SMART and be CREATIVE!!!
Own the guide now for only $3 and start your buying and flipping business today!
Beyond storage auctions…
Putting it all together… For me, buying storage units at auction is part of a broader buying and selling business. I also source products at garage sales, thrift stores,
estate sales, and through family and friends. I am writing this section
while sitting at my brother’s computer (storing my work on my handy
dandy memory stick). He and I researched some computer equipment
this afternoon that his company was going to toss in the dumpster
because they were just sitting in a corner taking up valuable space. He
asked if he could have it instead and it looks like it will be worth about
$600 on eBay. Woo Hoo!
I may eventually add selling new items that I purchase wholesale to my
business strategy. By starting with items around my home, then at garage
sales and storage auctions, I am:
● learning one step at a time without risking too much capital
● building capital that I will need if I want to buy a whole pallet of
toasters (or whatever)
● learning what types of products, I enjoy working with and what
gives me a headache
● creating a network of like-minded folks to help me
● gradually bringing my family on board and developing teamwork
SPECIAL SECTION
Selling on eBay – Getting Started It is beyond the scope of this eBook to teach you how to sell on eBay, but the good news is that there are plenty of good resources available, some free and some well worth the small investment.
First of all, I am including with this eBook the free bonus eBook Make Money on eBay the Simple Way. It has enough information to get you started. You should also take advantage of the wonderful tutorials that eBay itself has to offer new sellers.
A Final Word
Whatever you do – do NOT let others talk you out of trying something
that might work very well for you. There are always naysayers – people
who are in their own little ruts and want everyone else around them to
stay in theirs.
A common negative statement I have heard about storage auctions is “the
building owners will take all the good stuff.” Well, life isn’t perfect and I
can’t guarantee that some storage buildings owners aren’t going to do
this, but let me give you some food for thought:
● The owner is in the storage building business NOT the
buying/selling business. Remember his objective – a cleaned out
unit that he can re-rent.
● He has a legal process to follow. Yes, he can cheat, but is it worth
it?
● If an owner got in a habit of taking all the best items, word would
get around that those units were worthless and fewer and fewer
bidders would show up. In the long run, he would only be hurting
himself.
● When all is said and done, even if he takes out something
valuable, there will almost certainly be stuff worth selling left. In
order to find everything of value, he would have to go through
the whole unit which would be a lot of work and pretty obvious.
The bottom line is that we have pocketed an average of $600+ each
month since we started by buying storage auction units on a very part
time basis. I know that it works – that nearly any week of the year, I can take $50 to $150 and multiply by 3, 4, or 5 times with just a little bit of time, some elbow grease and imagination. Now YOU CAN, TOO!!!
Supplemental
How To Start, Operate And Grow A Storage Unit Flipping Business
1. Laying the Foundation
Before you bid on your first unit, build a solid base:
Market Research and Legal Setup
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Identify local auction houses and online platforms (e.g., StorageTreasures, Lockerfox).
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Check state and municipal auction laws (notice periods, bid deposits, lien rights).
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Register your business entity (LLC or DBA) and obtain any required licenses or resale certificates.
Budgeting and Funding
Estimate your initial outlay, including licensing, deposits, and basic equipment:
| Expense Item | Estimated Cost |
|---|---|
| Business registration & permits | $100–$500 |
| Auction deposits (per site) | $200–$1,000 |
| Pickup vehicle (used van/truck) | $5,000–$15,000 |
| Storage for overflow inventory | $100–$500/month |
| Basic tools & packing supplies | $300–$700 |
| Website & marketing setup | $200–$800 |
Total, one-time startup: roughly $6,000–$18,500, plus monthly storage costs.
2. Operating the Business
Once you’re legally up and funded, develop repeatable processes:
Sourcing Units and Bidding Strategies
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Auction scouting
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Preview units quickly—look for densely packed, well-organized spaces.
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Note brand names, electronics boxes, or high-value indicators (golf bags, furniture).
-
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Bid discipline
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Set a strict max bid based on estimated resale value minus overhead.
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Factor in clean-out time and disposal costs for trash.
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Record keeping
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Log each unit’s purchase price, auction date, and contents summary in a spreadsheet or simple CRM.
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Inventory Management and Valuation
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Sort on arrival:
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Stage goods by category (furniture, electronics, clothing, collectibles), using folding tables or portable racks.
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Condition grading:
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Assign A/B/C grades (new, good, fair/repair).
-
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Valuation matrix:
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Create a quick-reference table to price items based on grade and category.
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Sales Channels and Marketing
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Online marketplaces: eBay, Facebook Marketplace, Craigslist, OfferUp.
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Local outlets: consignment shops, garage-sale events, flea markets.
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Niche communities: collector forums for vintage cameras, coins, sports memorabilia.
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Bundling:
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Offer “grab bags” or themed lots at discount to clear lower-value items fast.
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Own the guide now for only $3 and start your buying and flipping business today!
3. Scaling and Growth
After you’ve run a handful of units profitably, it’s time to expand:
Streamlining Operations
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Hire part-time help
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Outsource cleaning, photography, or delivery.
-
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Automate listings
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Use tools like List Perfectly or Vendoo to cross-post in bulk.
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Centralize storage
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Lease a small warehouse or partner with a fulfillment center.
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Diversifying Revenue Streams
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Upsells and rentals
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Store overflow items for other flippers or local crafters.
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Workshops and coaching
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Teach auction-bidding strategies or flipping basics.
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Digital content
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Monetize via a YouTube channel or blog sharing flips, finds, and tips.
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Building a Brand and Community
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Create a memorable name and logo that convey trust and expertise.
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Engage on social media with “haul” videos, before-and-after cleanouts, and success stories.
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Partner with local charities to donate unsold goods—boosting goodwill and community visibility.
Next Steps and Advanced Tips
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Explore live virtual auctions to tap nationwide inventory.
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Research specialized niches (RV storage, boat trailers, wine cellars).
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Consider investing in your own small storage facility to host auctions or consignment sales.
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Track key metrics (ROI per unit, average days to sale, profit margin) and refine your bid-price algorithm.