Storage Units Make Money

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 make money. There is a ton of bad information out there on the self storage or mini storage industry. Marketing ideas and strategies. A typical storage facility may have several hundred units renting at 50 to 100 each. Self storage units have surged in popularity this past decade and incidentally so have unpaid storage bills.

Whether you re the storage owner or a bidder there is profit to be made on auctions. But we had to add it to our list because you can earn serious cashflow month after month renting out your storage units. Read to learn how to get started. Starting a storage unit business with no money the marketing plan.

Catering to a high end need usually commands a higher rental rate. Can you make money on storage units. Contrary to what you may read there is virtually no money in building new facilities or buying them at a 7 cap rate. With low cost land low cost building and low maintenance storage units remain one of the easiest and best ways to create passive income in real estate.

Starting a storage unit business is an excellent way to generate passive income. Storage wars and a bunch of similar shows american pickers auction hunters etc were making a big deal about storage unit auctions and the kind of money you could make. Other income comes from late payment fees additional charges to offer customers increased security. Just like a 3 bedroom apartment commands much higher rent than a.

Some storage units offer premium services like boxes and packing materials and even packing assistance. Marketing is an essential part of any business either new or existing because not only does it help to generate funds for a business it also ensures that awareness is created for the business as well. Here s my 15 seconds of fame when i actually appeared on an episode of storage wars. The secret to earning money with storage unit auctions is knowing how and where to resell the everyday items that at first glance don t look like they re worth much.

Unfortunately for those who have either abandoned or stopped payment on their storage unit they will have the contents of their unit auctioned off to the highest bidders. Storage units may cater to specific needs such as for boats rvs or wine. Once you have a few auctions under your belt it is possible to make a decent side income or even a full time income reselling these everyday items. I ve always found auctions to be rather exciting so i attended.

Larger units can cost much more. However there are some risks.