Let me tell you about reality

Hysteria has overtaken the storage world.

There is a new program on television called 'Storage Wars'. It follows individuals in Newport Beach, CA who purchase the contents of storage units which have gone through a foreclosure procedure because of non-payment of rent. These individuals, in turn, resell the contents, hoping to make a profit.

Because of this show, I have received more calls in the past 3 weeks than I have all year from people asking to be added to my 'auction list'.

I decided to watch Storage Wars tonight to see what all the fuss is about. Disgusted, after about 15 minutes I turned the program off because it totally distorts the reality of what I see in my storage business. Storage Wars needs to mention that the ratio of units having valuable content such as antiques, sports memorabilia or rare art vs. units containing junk must be somewhere around 1:100!

During fifteen years of managing my storage facility I can count on perhaps 3 fingers the number of foreclosed storage units that contained what I consider 'quality' belongings. The majority of people who store valuables pay their storage rent! The opposite of these good units, what I call 'crap' units, are much more the norm.

Last week I attended an auction at a competitor's facility - just for the fun of it. Greg had 4 units to auction off and approximately 50 bidders showed up, hoping to find that elusive treasure hidden in the bowels of a storage unit. I watched with interest as the bidding process began. It soon became obvious who were the rookies vs. the regulars. The rookies bid on and won the crap units. A bid on a 'good' unit began at $100, jumped to $500 then $1,000 and.... sold! The shocked (and hopeless) expression on the faces of the rookies was sad....

Once a unit sells, the buyer is expected to empty the unit within 24 hours. If it is a large unit, say a 10'x20', stuffed to the rafters, emptying it out requires time, strength and expense. Will you have to rent a truck to haul the contents to your home or garage? Where will you put the contents of the storage unit? (You can always rent a unit!) How will you re-sell the contents? Are you prepared for the time and expense of trips to the dump as well as hauling items to a donation site?

Acquiring the contents of a good storage unit is a lot like winning the lotto. The odds are not in your favor! Are there treasures to be found in a foreclosed unit at a storage facility? Absolutely! Can one make money re-selling ordinary items. Yes! Just do your homework before you decide that this is your path to fortune.