Welcome back, I have some great information for you in this newsletter. Read through everything, and remember, if you haven't read the past issues, scroll down, and on the right side of the page you will see the "Newsletter Archive," or use the Newsletter Navigator on the bottom of the page. Make sure to read those past issues, they are full of storage auction information.
Before we get started, I wanted to let you in on some good news. Many of you wanted to buy my book using PayPal, as a payment option for my e-book. If you were waiting for that option, it is now available. I accept most major credit cards as well.
I have never done this before, but I feel it will help you better understand my book and how it is written. So for members of my newsletter, I am letting you read Chapter 19 from my book, word for word. To read it:
"I get the indication that after foreclosure on the unit and prior to auction that property owners themselves may be ransacking these units and plucking decent property themselves?"
This is a question I received from a reader, and I get this question in various forms from others as well. Here is my answer for this question.
Basically the question asks, do you think the storage complex owner takes out the best things before an auction?
At some of the auctions I have attended I've noticed the same thing. Not at all of the auctions but just a few of them. My first opinion was that the previous renter was just disorganized, and I am guessing many times they are, but I have gone to a few auctions where the owner of the complex flat out said that some things he already took out, and kept for himself or resold.
Just because some things are gone, doesn't mean the rest doesn't have any value. Go with your gut on what you think an item is worth.
Many times there might be some things that no one has a clue what they are but once you get them on eBay, a bidding war gets started. Also you never know if anything is gone, maybe the previous renter really was lazy and threw everything into a big pile.
Some states have laws where the complex owner is not allowed, to rummage through the items. In most cases before the auction they have to open the unit up, and take a visual inventory (without going inside) of what is in the unit, and then mention that in the public notice. (Check with your states laws to see if that is the case)
If you think things are sloppy, ask the complex owner if he took anything. Most owners are nice and will let you know, others may not but it doesn't hurt to ask. And remember the owner doesn't know the value of everything, and could easily pass something valuable by.
Well there you have Issue 4, keep an eye out for #5 as I will be sharing some readers auction experiences.
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