A Hustler's Guide To Buying And Selling Anything (Part 1)

[Gruby Phil]

Wow... Thanks for this thread Ryan. I've just started doing same thing in my area Hope you'll achieve your goal.

 

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[Michael W.]

Hey Ryan, are you TYPING out your listings on craigslist or are you using an IMAGE that describes the listing?

One thing I've tried in the past that greatly reduces the amount of spam that the bots pick up is typing up my ad in Microsoft Word (listing your phone number, description, etc) then taking a SCREEN PRINT of the Word document and uploading it to craigslist. There's a way to put much larger images than just the 4 that they offer, I can't remember how off the top of my head how though, just google it. And if I recall correctly, you have to put a tiny bit of text in the ad for CL to accept it, but most of everything the customer needs to know will be listed on the image / screen print.

Hopefully trying that will eliminate any more 4 AM text messages.

You can do the ""img src="" code still I believe. Although my posts are starting to get flagged.

 

[theBiz]

go to imageshack.com

then under the picture put the keywords, your finished ad should look like this...

2003 bmw m3 automatic 325i 330 3 series coupe

 

[karakoram]

You can post HTML in craigslist ads, therefore, you can post images that call from another site. I have done this in my craigslist ads.

 

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[DeletedUser394]

I passed (or past?) $7,000 now, mostly inventory (lot purchases) with around a grand in cash.

I started a new job today. I basically clean dishes, scrub toilets and mop floors (if you're reading this Russ, it's a b&b haha). Not the most glamorous or alluring, and I don't stay up at night dreaming about how awesome tomorrow will be on the job. Chose it because it allows me to make my own hours (and to maybe take on a second job). But I'll clean 10,000 toilets if it gets me closer to my goals (and I probably will at the rate I'm having to clean 'em) and if you can't say the same, why are you here?

I get up in the morning before the sun rises, return emails/calls, then go to work, then get off work and take more emails/calls, schedule meetup times, meet people to either buy or sell items, then run home to eat, then take an hour long train ride to get my a$$ kicked at the gym (wrestling class) for 2 hours, then take the train back home for another hour. Get home by the time most people in the city are sleeping, eat, answer more call/emails. Sleep. And then repeat next day.

You know, I used to say 'I really want to succeed', and yet I never put the effort in. I was kidding myself. Most people (even on this forum) will never accomplish their goals. You have to be willing to sacrifice, to work hard, etc, etc, etc. You're kidding yourself if you think this just happens overnight.

A couple of months ago I had $1.25 in my bank account, weighed less than my dog (he's a big dog...but still I was skinny), did nothing, had no friends, was intimidated by everyone.

Now I'm 70% of the way to my first financial goal (and to a 5 figure net worth... not much but at 19 I'll take it), I have a six pack (ain't talking about beer), have some amazingly awesome friends, I look like I could kill you (in the mma, wrestling sense of the word), and nothing intimidates me except my own potential.

So here it is, if you want something, it's simply a matter of figuring out what you want, how to get it (google knows all) and then quit making retarded excuses and get off the couch and make it happen. It's simple, but not easy. Forget the motivational rah-rah nonsense. If you need external influences to keep you motivated, you've already lost. You have to have that hunger....lol, the irony is that I'm about to quote motivational speaker Les Brown.... 'You gotta be hungryyyyyy!'

Keep hustling.

That's all.

 

[Rickson9]

Hey Ryan, do you have any opinion on the ideal/optimum cash to inventory ratio? Would there be a way to measure sales velocity at different ratios? Great work!

 

[DeletedUser394]

Hey Ryan, do you have any opinion on the ideal/optimum cash to inventory ratio? Would there be a way to measure sales velocity at different ratios? Great work!

I don't have any set rules on that. Say I have $2K in cash and I have an opportunity to buy a wholesale/below wholesale lot of 190 Green Lizards (lol) for $10 each and they retail for $50 (That's pretty routine for items when I buy a lot... 5x or more retail value than what I paid).

In a situation like that, I'd buy them in a second because my $900 investment has the potential to become $9,500 just like that... not to mention I have a lot of room to sell lower and still cash in big.

I'm not buying inexpensive lots like that anymore but it's an easy example of what I've done so far.

So, I always like to have some cash but won't hesitate to use most if not all of it on a big deal.

To be honest, I have no idea what your second question means. Although I think the question can't be answered since I don't keep a certain ratio of cash to inventory in the first place... so there's no way to measure.

Transitioning to the next faze of my plan. I'll still be doing some hustling like this, but I've figured out a way to outsource most of the work and increase profits (as a $ value). Already planning ahead for the $100k mark (Won't be from what I'm doing in this thread though)

I'm like you in the sense that I'm more of an investor than an entrepreneur. My road to wealth will involve simple businesses/models that work and have worked for a 100 years in most cases. I'm not going to reinvent the wheel or come out with my own products/services. And eventually I'm just going to invest in startups and what not... but it ain't going to be my startup.

There's no unique product, service or invention in my future. I'm just going to do what successful people have always done, and either do it equally well, or hopefully better than they have.

 

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[mavwrx]

how many hours is yuour new job a day? is the hourly wage worth it?

i delivered pizza at one point and was asveraging about $15 after gas. I'm still selling stuff on amazon and ebay.

I passed (or past?) $7,000 now, mostly inventory (lot purchases) with around a grand in cash.

I started a new job today. I basically clean dishes, scrub toilets and mop floors (if you're reading this Russ, it's a b&b haha). Not the most glamorous or alluring, and I don't stay up at night dreaming about how awesome tomorrow will be on the job. Chose it because it allows me to make my own hours (and to maybe take on a second job). But I'll clean 10,000 toilets if it gets me closer to my goals (and I probably will at the rate I'm having to clean 'em) and if you can't say the same, why are you here?

I get up in the morning before the sun rises, return emails/calls, then go to work, then get off work and take more emails/calls, schedule meetup times, meet people to either buy or sell items, then run home to eat, then take an hour long train ride to get my a$$ kicked at the gym (wrestling class) for 2 hours, then take the train back home for another hour. Get home by the time most people in the city are sleeping, eat, answer more call/emails. Sleep. And then repeat next day.

You know, I used to say 'I really want to succeed', and yet I never put the effort in. I was kidding myself. Most people (even on this forum) will never accomplish their goals. You have to be willing to sacrifice, to work hard, etc, etc, etc. You're kidding yourself if you think this just happens overnight.

A couple of months ago I had $1.25 in my bank account, weighed less than my dog (he's a big dog...but still I was skinny), did nothing, had no friends, was intimidated by everyone.

Now I'm 70% of the way to my first financial goal (and to a 5 figure net worth... not much but at 19 I'll take it), I have a six pack (ain't talking about beer), have some amazingly awesome friends, I look like I could kill you (in the mma, wrestling sense of the word), and nothing intimidates me except my own potential.

So here it is, if you want something, it's simply a matter of figuring out what you want, how to get it (google knows all) and then quit making retarded excuses and get off the couch and make it happen. It's simple, but not easy. Forget the motivational rah-rah nonsense. If you need external influences to keep you motivated, you've already lost. You have to have that hunger....lol, the irony is that I'm about to quote motivational speaker Les Brown.... 'You gotta be hungryyyyyy!'

Keep hustling.

That's all.

 

[mavwrx]

here is a decent hustle from last year:

super mario all-stars was rereleased around Dec 2010. I sold some pre-orders on Amazon, at the time amazon had sold out of their preorders. The preorders from amazon were going for $29.99, but after amazon sold out, i was able to sell a bunch of them at $70 to 90 depending on competition. I think I cleared at least $1000 in profit just from mario. Thanks Shigeru Miyamoto!

 

[DeletedUser394]

how many hours is yuour new job a day? is the hourly wage worth it?

A) No set hours
B) I wouldn't be doing it if it wasn't.

 

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[Denis]

I passed (or past?) $7,000 now, mostly inventory (lot purchases) with around a grand in cash.

I started a new job today. I basically clean dishes, scrub toilets and mop floors (if you're reading this Russ, it's a b&b haha). Not the most glamorous or alluring, and I don't stay up at night dreaming about how awesome tomorrow will be on the job. Chose it because it allows me to make my own hours (and to maybe take on a second job). But I'll clean 10,000 toilets if it gets me closer to my goals (and I probably will at the rate I'm having to clean 'em) and if you can't say the same, why are you here?

I get up in the morning before the sun rises, return emails/calls, then go to work, then get off work and take more emails/calls, schedule meetup times, meet people to either buy or sell items, then run home to eat, then take an hour long train ride to get my a$$ kicked at the gym (wrestling class) for 2 hours, then take the train back home for another hour. Get home by the time most people in the city are sleeping, eat, answer more call/emails. Sleep. And then repeat next day.

You know, I used to say 'I really want to succeed', and yet I never put the effort in. I was kidding myself. Most people (even on this forum) will never accomplish their goals. You have to be willing to sacrifice, to work hard, etc, etc, etc. You're kidding yourself if you think this just happens overnight.

A couple of months ago I had $1.25 in my bank account, weighed less than my dog (he's a big dog...but still I was skinny), did nothing, had no friends, was intimidated by everyone.

Now I'm 70% of the way to my first financial goal (and to a 5 figure net worth... not much but at 19 I'll take it), I have a six pack (ain't talking about beer), have some amazingly awesome friends, I look like I could kill you (in the mma, wrestling sense of the word), and nothing intimidates me except my own potential.

So here it is, if you want something, it's simply a matter of figuring out what you want, how to get it (google knows all) and then quit making retarded excuses and get off the couch and make it happen. It's simple, but not easy. Forget the motivational rah-rah nonsense. If you need external influences to keep you motivated, you've already lost. You have to have that hunger....lol, the irony is that I'm about to quote motivational speaker Les Brown.... 'You gotta be hungryyyyyy!'

Keep hustling.

That's all.

Every time I need motivation I am going to go back to this thread. You make me look lazy by comparison. Glad to hear your still hustling and have a goal in mind. Keep it up.

 

[Mooza]

I have $560 in my bank right now.

Never really done this before but I'm 18 and I have no car. So what do you recommend for me?

 

[DeletedUser394]

I have $560 in my bank right now.

Never really done this before but I'm 18 and I have no car. So what do you recommend for me?

I'm 19, and have no car. (I don't even have a license).

$560 is $560 more than I started with, so you're in good shape.

Know anything about any products on the market? Start buying and selling those. Don't know anything about any product on the market? Find something you'd like to learn about, google it, and then start buying and selling those.

 

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[Mooza]

I'm 19, and have no car. (I don't even have a license).

$560 is $560 more than I started with, so you're in good shape.

Know anything about any products on the market? Start buying and selling those. Don't know anything about any product on the market? Find something you'd like to learn about, google it, and then start buying and selling those.

I considered ordering those flashcart things for Nintendo DS at $80 for a lot of 10 and selling them for $45 each on my local used sites. I see people selling them for $60 right now individually.

 

[MJ DeMarco]

Robberies By Appointment - Craigslist Robberies on the Upswing
Just for all your hustlers; be careful out there!
Robberies By Appointment - Craigslist Robberies on the Upswing

 

[theBiz]

It's simple, but not easy.

Exactly, very happy to see your finding fulfillment in your new business pursuits. Many people dont realize, its not all about the money, the way your feeling and how you've changed your life is something more important than money, its about setting goals in your head, turning them into a reality, and accomplishing them. Everyday think bigger and work harder. Congratulations.

 

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[kwerner]

Okay, Ryan has officially inspired me to list some of the stuff I've had sitting around for a while on ebay & craigslist.

Going to create the ebay listings then some craigslist ads in a few of the major cities with a link in the CL ad to my ebay listing. We'll see how that goes. I'm guessing my CL ads will get flagged / ghosted, but it's worth testing it out.

 

[Vigilante]

Robberies By Appointment - Craigslist Robberies on the Upswing
Just for all your hustlers; be careful out there!
Robberies By Appointment - Craigslist Robberies on the Upswing

Funny that you posted this yesterday. I bailed on a transaction to buy some tickets yesterday off of Craigslist.

#1 something in my gut told me something was wrong
#2 all correspondence from him never included a name, and included a new gmail email address
#3 the meeting place changed from a public location to his house
#4 thank God for google earth and street view

Be careful out there people.

 

[DeletedUser394]

It's not that hard to not get murdered when doing a deal... mind you I'm Canadian so imagine it's somewhat different.

Again, when selling easiest thing you can do is punch an email address into Facebook. Bam, you know who they are, where they work, (even sometimes how many kids they have haha), etc, etc

95% of the time that works.

4% of the time (out of the other 5%) the email doesn't work to facebook so I google it. Meet in a public place obviously, etc.

Again, basic common sense goes a long way.

Over 200 meetings with people in the last 2 months, and I've yet to ever feel in danger even once. (One guy came to my house at midnight once. Knew more about him (because of his email) then he probably knew about himself).

Now that my deals are becoming more expensive, I no longer meet people at their houses and to a lesser extent mine.

 

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[Birdem]

Hello, Im new to this site. Anyway Id like to know how do you distances yourself to the competition, yeah I read that you will accessorize your product. I still find it hard to believe you are making a sale everyday with practically everyones prices are basically the same on craigslist. Im basically trying to get in the ps3 console flipping and alot of the prices are around 220 range do you think I should lowball in the 175-180 range? Im new to ebay, but I heard that ebay eats alot into your profit when you try to sell there. I appreicate anybodies two cents in my questions thanks.

 

[Rawr]

Funny that you posted this yesterday. I bailed on a transaction to buy some tickets yesterday off of Craigslist.

#1 something in my gut told me something was wrong
#2 all correspondence from him never included a name, and included a new gmail email address
#3 the meeting place changed from a public location to his house
#4 thank God for google earth and street view

Be careful out there people.

I have a pitbull. 94 and Snelling feel free to do business at my house lol. Also can you pm your email me or is there a way to pm you?

 

[Bsgarrison]

I owned a shipping business in Florida and had a number of customers who made their money on ebay and craigslist and also at flea markets. The most successful business people were 2 guys, one who bought wrecked motorcycles and parted the out and the other bought outboard boat motors and sold the parts. He sold the most profitable and discarded the small parts, but once we talked him into giving them to us instead of junking them. Too small for him to deal with, we put them online and made enough to fund a family reunion on the beach for the entire family in one month. Another customer specialized in antique glass. She built a reputation as a knowledgeable dealer and sold her items online. Those who did the best specialized in one area. Not saying this is the only way, but reputation counts on ebay. Those who worked the hardest and had the most overhead were the antique and flea market vendors. Sometimes they barely made enough to cover their expenses.

 

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[Bsgarrison]

I have done well buying and reselling old and antique furniture. You could go to garage sales on the weekend, or thrift stores. I once knew a couple of ladies who specialized in plus size clothes (they were NOT plus size). They went to stores that were going out of business, or that had a terrific markdown, thrift stores, etc. and bought the large size clothes, new or in very good condition and resold them on ebay. They told me that heavy women do not like to shop for or try on clothes in public, so they buy mostly online. The same idea would work for children's clothes, glassware, almost anything. To start, focus on one market and concentrate on making money selling items in one area. Large Clothing. Be very careful using craiglist. I usually contact the customer a couple of times before I commit to meeting them, and then always in a public place with plenty of people around. Not at your home or theirs.

 

[Bsgarrison]

Really? You are only 19? Congratulations on being very savvy. Thought you were at least ten years older. When I use craigslist I usually chat back and forth with the customer, letting them reveal more and more information about themselves until I feel comfortable dealing with them. You are right, not good idea to have them come to the house or to go to theirs.

 

[Joehenny]

I really like this thread, this is what got me to join the forum. I do the same thing
but didn't think there were many others who also did this. It's really a gold mine if
you know what you're doing. I got into it because I was bored at home one day and
just scheming of ways to make some side money besides working a second job
for someone. I ran into this dudes video by accident on youtube and decided to try
it out:

The Craigslist Hustle (Ebook link is http://www.amazon.com/dp/B00589WXSU) - YouTube

I was shocked to see some dude making 400 a day flipping washers LOL. I couldn't do it
though because I don't have a truck so I figured out a better method.

I found some kid on youtube flipping phones so I got into that and have been doing pretty
good so far. I have a different way of going about things though. I don't like to sit on craigslist
and search for ads all day so I made a simple system to make customers come to me. I posted
an add that said I bought phones with a graphic in it. I posted that I buy in any condition and left
my number up. Within a few hours my phone blew up and has stayed blown up ever since.

It's easy the hardest part is getting a good deal though because people really want the most money
possible for their phones. Another hard thing I'm running into is people selling stolen phones.
Besides that I'm making good money just had a slowdown this week though because all my money
is tied up in paypal waiting periods and I didn't know that it takes so long to get your money now if you don't
add a tracking number (my bad) lol.

My main goal now though is to buy 3 phones a day and make 50 bucks a phone that's 150 a day and
if I do that 5-7 days a week that's good extra money made in addition to my job.

peace

 

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[Birdem]

So many craigslist scammers, I've been scammed today. The guy agreed to give me my money tomorrow, Lets just hope he has some brains and shows up since I know where he lives.

 

[DeletedUser394]

So many craigslist scammers, I've been scammed today. The guy agreed to give me my money tomorrow, Lets just hope he has some brains and shows up since I know where he lives.

...Cash only at time of purchase, otherwise, no deal, no exceptions. Simple.... if I understand correctly, you sold him something, but you're only getting the money tomorrow? Why would you do that..

 

[Rickson9]

So many craigslist scammers, I've been scammed today. The guy agreed to give me my money tomorrow, Lets just hope he has some brains and shows up since I know where he lives.

No money, no product. Why would you not collect the money? If he got you to agree to not getting paid, he seems to be doing pretty good for brains.

 

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[Birdem]

No dude this guy was a con man. I was buying a product it was a steal in my eyes, so we met up product look good I inspected it for 5 mins. I went home to test it out and it was giving me problems. I phoned the him saying it doesnt work , and that ill be picking up my money. He said ok well meet up for the exchange. It got me kinda mad how shocked he sounded. Hopefully all goes well n lesson learned.

 

[DeletedUser394]

Lesson: How about, don't buy something you can't test? Seeing as you met him at his house, why not just ask him to plug it in? (assuming it's an electrical device).

I don't offer refunds, because I make very well sure that the people buying test out the product before handing me the money, and vice versa.