A lot of people use storage facilities to hold their seasonal items, junk, or treasures when they do not have room in their houses. Sometimes, they forget to pay the fee or never return for their things at all. After a certain period, the abandoned unit will be sold off.
Source: Relatively Interesting
The storage unit will be up for bid in an auction and the winner own whatever is in the storage unit and clear it out. When one man found a lot of cash in the storage unit he won, he thought he hit the jackpot. It turned out it was the start of a living nightmare.
Thrill of the unknown
Now this can be very thrilling because you have no idea what you bidding for. There is a huge chance that you would only get junk but there are also times when you can get valuable items, jewelry, and in this case – cash!
Source: Simply Self Storage
Of course, you are not going in blind. Before the bidding starts, the storage unit is opened so everyone can take a look from the outside. Sometimes, all you see is junk but you never know what is hidden in the boxes or containers.
Storage solution for a fee
Self-storage works similarly to real estate. You pay to store your items and you are given a key to the unit. You can drop by anytime to retrieve something or store more items. In exchange, you have to pay a weekly, monthly, or yearly fee – just like rent.
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Payments on the storage units must be done on time. If you do not, the storage facility will have the right to auction off your items to recover from the loss. Auctions also happen to clear out a unit so that a paying tenant can use it.
Bidding on storage units
Joe had been bidding on abandoned storage containers for quite a while now. He knew that it was a huge gamble because you never know what you can get. But he’s heard stories of people getting cars, jewelry, and other valuable items out of it.
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Every time an auction comes up, he shows up and always hoped for the best. So far, Joe had been lucky a few times. He would land a storage unit that had some valuable items. He would often be able to sell off these items in his thrift shop and make a profit.
One last time
But this business did take a lot of hard work and effort. Aside from the risk of wasting money, he had to go head to head on bidding wars. If he wins, he would have to go through all the junk, sort it out, clean it out, and then find buyers.
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Despite all the hassle, it is the thrill of the unexpected that kept him coming back. But lately, he was getting tired of making money this way. Joe decided that if he did not find anything big in the next auction, he would be done with this kind of living for good.
The auction
Joe went to the next auction and found 15 to 20 people already waiting to take a peek at the 5×15 storage unit. The unit was as big as a usual bedroom so people were expecting it to contain a lot of stuff.
Source: Relatively Interesting
Now if you have seen the TV show, Storage Wars, the bids did not happen that way. There was no shouting, drama, or screaming. But the real thing is still as exciting and entertaining and Joe feels a thrill when he’s on a bidding war with someone.
Work on a budget
Joe always made sure that he does not go overboard. He always had a budget in his mind and made sure he will not go over it. This was the only way he can ensure that he can lessen the risks. But that day was different.
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When it was Joe’s turn to take a good look at the storage unit from the outside, he could tell that there was a lot of furniture inside. He could sell those for a high price especially if they are antiques.
The bidding war
The starting bid was at $100, which was higher than usual. Joe matched the bid but another woman raised it a little more. They went on a bidding war and Joe was starting to get worried as he was about to reach his limit.
Source: Zolo
The bid was at $350 now and it looked like the other woman was not yet willing to give up. Joe was about to reach his budget limit but he had a feeling that this storage unit would be worth a lot. In the end, Joe won the unit with a $500 winning bid.
Was it a win or a loss?
By the time he won the bidding war, Joe was practically shaking. He had gone way over the budget so whatever is in the storage unit should be worth it. He quickly dealt with the paperwork and faced the storage unit, praying that he did not mess up.
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The other bidders started to leave after failing to win the storage unit. But there were still some people who hung around, curious and eager to see what treasures Joe would find in the unit.
Inspecting his loot
As Joe entered the unit, he was able to see that it was filled with old furniture. That made him feel a little better, thinking that he can get his money back and more. Joe tried to walk around the small gaps between everything, keeping an eye out for anything valuable.
Source: Dart Portable Storage
Now that he got a closer look at most of the contents, he started to worry that the furniture will not be enough to cover the price he paid for the unit. He started searching desperately for something that could help him make a profit.
He finds a safe
Then, he spots a dull gray container beside a chest of drawers on the floor. He rushed to it immediately and felt excited when he saw that it was safe. He immediately tried to see if he can open it but as expected, it was locked.
Source: Relatively Interesting
Joe called his friend and asked him to come over with a drill. When he was able to open the safe, he found a collection of VHS tapes. His friend gave him a pat on the back before he left, knowing that Joe was disappointed.
A creepy feeling
Joe took out the tapes trying to see if there was anything else inside. He found a note that gave him chills. The note only had one word on it: “Don’t.” Joe then went through the videotapes separately. There was no other information on the labels – just dates.
Source: Relatively Interesting
He immediately had a creepy feeling. Suddenly, Joe felt that he was being watched. He turned to take a look but saw that all the onlookers who were curious about his winnings were already gone by then when they found out the safe had nothing valuable in it.
The secret compartment
Joe started to clean up and clear the unit. It took all day and a couple of trips to transfer everything to his place. He was starting to regret bidding on the storage unit and was ready to call it quits.
Source: Relatively Interesting
Now that he was safe at home, he got the safe and inspected it once more. He found that there was a secret compartment. When he opened it, he found bundles of yellowed wax paper. Joe’s heart started beating when he finally realized what he was holding.
Trouble comes
Joe unwrapped the bundles and found they consisted of cash. Joe saw that there were several bundles of cash and after counting everything, he had $7.5 million in his hands. But how did the money get there and who was the previous owner of the storage unit?
Source: Relatively Interesting
That night, Joe was contacted by some top-notch lawyers saying they represent the original owner of the safe that Joe found in the storage unit. The original owner wants his fortune back. And just like that, Joe’s dream moment quickly turned into a living nightmare.
He was not safe
Ever since Joe found the safe, he started to receive aggressive notifications from the lawyers. Not only that but he was getting anonymous threats as well and he had a feeling it was the original owner. He was a millionaire now but he can’t be happy about it.
Source: Relatively Interesting
A lot of questions were running through Joe’s mind. If the original owner was aware of the safe, why didn’t he just pay his storage fees? Why choose now to collect the safe? And how did the owner find out he was the one who bought the storage unit?
Checking out the tape
The lawyers told Joe that he would be given $600,000 as a finder’s fee. Joe was not sure if he wanted to be entangled in whatever it is that the original owner was involved in. He had to know who he was dealing with.
Source: Relatively Interesting
Joe decided to take out one of the tapes and played it on his VCR. It was a decision that Joe regrets. The scenes he witnessed made his blood run cold. He could not even finish the tape. What he watched that night gave him nightmares.
He did not want any trouble
Joe tried to comfort himself by thinking that the scenes he saw were fake. It was probably a ploy of the original owner to intimidate anyone who found his money. One thing is for sure – he would not want to mess with this person.
Source: Relatively Interesting
But now that he has seen one of the tapes, this just added to the worries Joe had. What if the owner found out that he had broken the rule and watched the tape? Was all that money really worth his peace of mind and getting into trouble with that kind of person?
Consulting a lawyer
To be on the safe side, Joe decided to consult a lawyer about his situation without mentioning the money. He told the lawyer that the previous owner of a storage unit he won in an auction was trying to get his things back. Do they have the right to do that?
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The lawyer told Joe that in the state of California, once a unit is sold, the contents are no longer owned by the previous owner. Joe had full rights to keep anything that was in the unit because he had purchased it fair and square.
Raising their offer
That afternoon, Joe got another call from the lawyers. They upped the finder’s fee to $1 million. They were talking to Joe as if they were the ones doing him a service and that he would be crazy to turn down a million dollars.
Source: Relatively Interesting
Technically, Joe already owns the $7.5 million. However, there was also the moral dilemma that he did not really work for the money and that he just got it out of luck. But then again, it is not every day that you get to be a millionaire.
The split
Joe decided to make a counteroffer. He told the lawyers that they should split the cash straight to the middle. After all, he bought the contents of the abandoned storage unit fair and square. Legally, everything that was in it should be his.
Source: Relatively Interesting
Joe and the lawyers met up the next day and the cash was split equally. Both sides signed a waiver that they will no longer bother each other. After that stressful experience, Joe swore he will never bid on storage units again. At least he got to retire as a millionaire.