My Days Of Holding Live Self Storage Auctions

Hi everyone its jim ross with the self storage show. Thanks for tuning in for another episode here today. As as always, they go. What should I talk about?

And literally just had a conversation about a half hour ago with a vendor that's coming into the industry and helping out when it comes to leading process. And so I just got my, you know, memory bank going here. And my god, i'm gonna talk about some of these stories in a while.

So now today is today is gonna be about this kind of, ah story time with him back in my days with doing live auctions. And i've mentioned it, you know, three times here and there, what i've done in the past, my bread and butter is management.

That's what I do for third party management here in the western states. And this has been probably 2012 ish somewhere around there. And you know, of course, I was doing my own options for all the sites and I was doing it on the side, helping other independent mom and pop places with their auctions.

That was kind of a lead source, quite frankly, of kind of helping them out. And then i'll be opened up to doing management for him. And I can't tell you how many times i've just go in and say, hey, give you figure out it was kind of check and do a check and balance of your auctions to see how they're going to have a point in the right direction. You know, that kind of thing.

And they were always, like, wrong, quite frankly, just flat out just doing doing him wrong on. Obviously, i'm sort of. Some of you guys saw that episode I did last week.

Whenever that was with that news story of the people. I didn't run the auction. I just threw the crap in the dumpster type. I have my own theory on that. What happened with that one? But it's again. It's this kind of showcasing that, you know, they're not being done correctly at all. And so long story short that that prompted me to be like, well, i'll do it right.

Let me help you, okay? I'll pay me a little bit. I will help you make sure everything is done correctly. Not gonna get sued.

Everyone's happy. You'll probably make more money without me. Help you anyway. And it's all good. So I started a company called excel self storage auctions.

Uh, parents anxious. I mean, you know me. Video got video, so I made a little promo video for it, so I figure why not it's been a long time since i've seen it, so i'll play that well. I'll tell you some stories surrounding this company kind of fun.

Alright, me. Pull us up here. So again, this is my old companies all around. No longer around. I'll tell you why here but 3500, 530 e following for at least five or six years.

There's a reason that you follow his e never worry about. I don't believe that he's ever gone in the unit. E know that he's just in my book is above reproach is as far as that's concerned. I'm not saying that because he's my friend and I like him.

I'm saying that I believe e reputation of being a e 0 20 years worth his are definitely better. You come. He's organized with this paperwork. It's already pretty fast.

E waste 63 94 10 25 way. 525 twice so e 100 twice. So 900 way think zio thinks is probably the best friend options of anywhere in the state that i've ever been to.

I've been another auction company where to do this many would take five times this long. You still trust? Oh, yeah. I could handle my wallet.

You can't trust people more than that. That's good. Yeah, that brings back some memories. E was that was the beginning of the gray hair starting.

Uh, yeah, it was kind of fun, you know, doing that. It was this big, big, hairy man. We would do that every friday.

Kind of. The approach was one friday, we get our clients, get mom's schedule, we would cut process, make sure letters were all good to go. All that kind of stuff live on the next side cut process.

That was one friday. The next friday we would sell. We have the auction. We would just keep rotating between all the sites.

Uh, you know, I did. I'm here in utah, so I did all the extra spaces and the u hauls and bunch of independent mom and pop places.

We kept busy, you know, for a little kind of a part time gig. We're very busy, you know, just you could see some stuff.

As you could tell. That was this one level auction at one site that we filmed. And, yeah, a lot of stuff going on but yeah, I started that just to make sure people doing things right, you know, in the first place.

But it became, uh, doing live auctions. Uh, yeah, it got a little hairy at times for one thing, your big caravan.

And as you could tell, you know, to my own horn. But, you know, I ran good auctions. I was efficient and trustworthy, e random, legit, and started getting big falling.

Yeah. So we just have this big caravans fall everywhere we went one site and we would have some days. We do eight auctions in the day and just bounce around each location.

The circus has come into town. We'd all go toe one site, everyone's there and all the cars and I started feeling bad for the managers. Just having that many people just bombarded at one time because everything shuts down the auctions going on. Yeah, there's forget about trying to write, you know, it's anything else going on. It's just it's you're just doing auctions, and that's it.

And so I started seeing this is good good for me personally have with making money. But, man, it could be done better. And then you start seeing online auctions and all that.

I'll cut to the chase, and once I tested on an auction, i'm like, oh, I see I sold the company moved on on there's so much easier so yeah, that's why, but I remember there's there's time. There's one story I was remembering that popped in my head.

It was probably bunch. I'm even forgetting one that just pops in my mind right now. Is this one guy was just even the storage auction guys, they start their friendly, but they're competitive at the same time. You know, they're all morning for the same stuff, and this one guy just would not.

He just would not shut up and just just poking a stick. You know, i'm just do whatever you cut it this get on everyone's nerves.

And this one guy who warned it was like dude, shut it like just kind of wore them like just enough. Just just be quiet. That's enough to stop it.

And he just kept john just kept going and going. And so one of you gets what role the door up to start the bidding. Have everyone started looking?

He just shoved the dude in their role. The door down. He's like, I can't take it anymore. I'm done. I can't take it. Let's go to the next unit and he starts banging on the door from the inside. Let me let you know.

So I call on everyone down, like, you know, it's like it was like a stupid counselor. Not come on down and take a deep breath and relax.

Yeah, roll the door up, real door up. The guy who came out panels and start swinging just fight broke out. Annual crazy people screaming it was nuts. So long story short had to kick that guy out and banned him from coming to auctions anymore.

Kind of stuff, because he was actually good pair, but yeah, no fighting. Fighting at the storage auctions.

And so, yeah, that was kind of beginning. And I start that fight my go entire the of the impersonal auctions, but kind of on the flip side. And someone auction buyers.

Yeah, they had some great stories to tell. They've got some great, um, great stuff that was inside, you know, kind of treasures.

You know, inside. Always remember it'll never happen again. It was my first place that I ran at a site first as a manager, you know, first location that i, you know, way back in the day.

I got into storage and there's my first option. And again, how it goes. No training, no nothing. I just kind of learned as I went and talked. A lot of people make sure he's doing things right.

And my very first auction that I held I was kind of overseeing it, thinking it was all good, ran it myself. And very first unit I ever sold.

Okay, it was boxes in front, and you just you can't see stuff in the back again. Everyone that does auctions legit. You know you can't go in. You can't cross that threshold to see what's what's in there.

You can't whatever you see on the outside, and that's what you're writing down. That's boxes, its's you're writing down boxes you can't see back there what it is.

Anyway, there was things covered with sheets. You know, you're just thinking now dressers and whatever furniture sold. The unit went for 50 bucks, so 50 in my right. I'm cool. 50 bucks. Move on. Next unit.

And now I had everyone do that and then come to the office. We're on paye, where we're all said and done did that the other units went back to the office to come pay.

I have never come pay. And I see the guy that bought $50 unit the very first unit ever sold in the back. You have these tears just kind of streaming down his face, like, good. Was there a body inside or what did he find? Mine was kind of racing.

And he comes up and gives me 50 bucks because I could never get a guess what? My god again. You know, i'm thinking dead body, like, just just come here.

Just come on and go to the unit. Make sure nobody around. It was just me and him. He opens, takes off the sheet under the sheet was like his vintage.

According to him, this one is vintage first editions. Harley davidsons. And i'm not a car. I'm not a motorcycle guy. I don't know.

It looks like a bike with a mortar on it. I don't know. Oh, my god. Cool. Dude, have stuff. Motorcycle.

All right, on. And he's like, no, no, you don't. You don't you don't get it. Like this is one of the original vintage harley davidsons.

All right, all right. Cool room. Good luck. And he's like, no, no, what do I do?

And so again, I had never dealt with auctions before, so realize you had to go through more of the leading product. I don't know the vehicle in there.

Go through that lane process and get the title and all that. We didn't we went through the proper channels and hey, we got it for him. So, yeah, you got this for 50 bucks and it'll never happen again.

Not in my lifetime, probably with something like that. But it happened in my very first unit ever sold, so that was like a auctions are awesome.

Then I quickly realized after that that most of us trash well, if it goes to auctions, it's kind of kind of going to option for a reason.

Uh, so, yeah, that will never happen again. But that was fun. But then you had other guys remember one of the units I sold, and again, it was like tile inside again.

I'm not an expert on this stuff. Hey, I just want to get sold. Just want to get out of their rent, the space out, having open space again to rear end, have someone's gonna actually pay me monthly rent.

I'm not really looking at the value of the stuff inside, you know? And this was, like, full of tiles again.

You know, i'm not the man's man. I don't know. You know, I go home depot, that's, like, my worst thing ever.

Get me out of there. So i'm just looking at title my cool whatever. And this one, guys, I got to see, like, changing, you know, money going on in his head.

And he bought it and it went for what it was about. A grand was about a ground. Like even though I was like, oh, all right, big spender.

Cool. Alright. I made my money back, you know, on the unit. I'm happy.

Move on the next unit. Well, before we finished the auction and come back to the office, this doodad made a phone call, sold it already.

Hey, made a 10 grand profit off of it off of one phone call and about a 15 minute time span, just taking pictures and some of this guy and then sold it.

So you made a good profit in that one type of. He came back. He was all he was all happy and excited. So, you know, you get stories like that, remember one, uh, speaking of treasures, it was actually in a treasure chest.

Yeah. Can't get much more into that. People see safe and all that, like everyone is gonna be that safe. States are always empty. Just how it goes there. Always empty.

But this was actually like to look like a treasure chest, and it was kind of sit right in front. And, of course, we don't go into it, but you can't look into it and all the option guys just just come on, just let me see. It just opened up.

Just give us a quick pick, quick peek. And, like, no, not doing it, uh, first better.

You know, five bucks. 10 bucks, you know? And of course, everyone was like, oh, it's empty. They're always in usually house.

And it went for 30 bucks. 40 bucks or something like that. Nothing big. Yeah, I was just like this. Whatever. Just get it.

Because the whole place was trashed. It was it was junk. One treasure box. Look like it was staged quite frankly. And and I did just just clean it out. I'm carrying, get rid of this crap and sold it blah, blah went on, same same story kind of went through. The rest of you stayed in that unit, made sure everyone else laughed.

And as we're seeing the other units and you open it up, we'll end up being all these coins, you know, all kind of sealed up.

There's a little packages, collector coins, and he ended up. It was about probably four months later. I want to say something like that hitting up. Call me back on I i sold each individual coin, not not the whole thing, because I went each individual one and sold it. And he was like $30,000 that this dude made off of that in my holy cow. That's so you hear stories like that. Of course, that's what keeps people going to auctions and buying munitz's stories like that. You know, just in my little niche, i've had a few of those happened again.

I'm getting 20 more. That is what it's kind of popped up in my head, but yeah, do it do it. Going back to live auctions. You know, a lot of fun doing that, man. Once I kind of got that little taste. Was just doing the online.

It was so much easier. Especially for the poor managers on staff now having to deal with just that circus. Coming to town for that little while it got muddy.

Plus was a safety thing. Liability e not to be all having a criminal mind here, but I was just thinking, man, if I was a robber, e would take out these auction blazes. Once they're everyone left, i'd be going in, like sticking out the joint because it's all cash, you know?

Well, you know, these auctions are all paying in cash, and there's times 56 grand. Here you go. Only cash and leaving just sitting there. So, yeah, that kind of started making me nervous too.

So, another reason why I went online, just, you know, there's all this cash is sitting around. Yeah, a little. A little crazy when it comes to that kind of stuff.

Um, and again, I was kind of going back quick, but having this conversation that stemmed. Having this this chat with you guys was, you know, auctions, oximeter coming in and helping sort sites run their auctions better.

And if you're watching this, you're probably on top of things. When it comes to your options. You're educating yourself of life's hey, wouldn't be watching me.

Listen, this. But when last time you looked at your procedures one last time you looked at your letter. When's the last time you looked at your publications and making sure you're in compliance making sure you're legit.

So I was kind of like to end these things with that kind of call the action. And check that out, guys, you know, go to your s s a and make sure you can buy or download those, uh, lean, annotated, lean procedures.

Check them out. You know, make sure you're falling your procedures, right? Joke about checklist. They give you in the back.

Some of those things were just man, because you've always done it a certain way, doesn't mean you're doing it right. Quite frankly, and so it make sure things haven't changed in your state.

You need to be keeping up to date with so yeah, check that kind of stuff. That's that's among little, uh, p s a toe. And that's what is just making sure you're legit.

There's plenty people out there that you could run things past to make sure you are, uh, legal people in the in the storage industry. They could look, look it over for you.

You wanna have, you know, send me to look at it cool. I'm like, give my two cents, but i'm not i'm not the legal expert, but i'm happy to kind of get things and once over for people just to double check some stuff. So, yeah, if nothing else, I will punch in the right direction.

Who to talk to us to make sure you are legit. So if you want to reach out cool, you guys always do that. Always open. Invitation s. Oh, yeah.

Let's end it with that. Thank you guys. So much for being a part of us tuning in, watching comments. I love it. So thank you so much.

Have to be rest your day. Take care

My Days Of Holding Live Self Storage Auctions

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