A Hustler's Guide To Buying And Selling Anything (Part 2)

[HighestVantage]

Cool stuff you guys!

Love the idea of living on a boat to cut rent. I do wonder, what are roughly the monthly's for maintaining and living on such boat?

Keep in mind I live in the US, and near Seattle. So I pay $300 or so in moorage/rent a month. It all factors into the profit or potential profit of when I sell. But I can also subtract the cost as rent when living on it. Typically its pretty hard to find a decent place for under $600/month so it's a good savings.

 

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[Dennis Steenoven]

Keep in mind I live in the US, and near Seattle. So I pay $300 or so in moorage/rent a month. It all factors into the profit or potential profit of when I sell. But I can also subtract the cost as rent when living on it. Typically its pretty hard to find a decent place for under $600/month so it's a good savings.

I think it's a brilliant idea! thanks

 

[DeletedUser394]

I probably mentioned this in the other thread, but never take your ad down until you actually exchange the good you're selling for cash.

A few days ago a guy texts me enthusiastically saying 'sure man, take down your ad and you can consider it sold'.

Of course I didn't do that, and I text him the following day to confirm a time to meet... and I hear crickets in return.

I really don't like hustling sometimes, but if needed it's still preferable to a job.. at least with hustling you can tell people to go f themselves .. can't say that to your boss unless you plan to quit lol.

Other than that I've been pretty inactive with regards to this. Was out of town for 8 or 9 days.

 

[DeletedUser394]

Apparently, I'm not allowed to sell weapons. This is the first time something like this happened. I understand where they're coming from.

 

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[DeletedUser394]

BOOM. STARTING THE NEW YEAR OFF RIGHT! Closed on an expensive item I had listed for a while + collected my overdue cleaning staff payments as I wasn't in town for the last week and a half.

$9,000 out of $26,000

I just need another 1k to make the 5 figure psychological mark.

I put in a buy order on the full 2k, but I think the markets are closed tomorrow. Oh well.



I think I can bring in another 1k in the next 10 days. Let's goooo

 

[FionaS]

You're rocking it GrumpyCat.

I've decided that one of my 'resolutions' for the year is to make enough on the side buying/selling to pay off one of our student loans ($10k).

This is a good project on the side to practice my selling skills and loosen up some of our monthly cash flow, which is an issue currently with all the student loans we have. I'm home all day, after all, may as well do something with my time while the kids are too busy for me to get 'real work' done.

So, about $2.5k/quarter. Not that much, but it'll definitely make a difference in our lifestyle, so definitely worth it.

 

[DeletedUser394]

That's definitely doable. Keep us posted!

 

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[FionaS]

That's definitely doable. Keep us posted!

Definitely will. Didn't want it to negatively affect the amount of time I have to work on Fastlane stuff, but $10k will be a good number. Start with selling some of the stuff around the house, and then will start flipping items once I have a little bit of 'spending' cash. It'll be good. Don't worry, though, won't take over your thread.

Should probably start my own at some point with all the stuff I have going on right now. I've been too occupied.

 

[Nicoknowsbest]

Hey Hustlers!

I just wanted to post a quick refresher and add some new lessons for some of you. I started hustling hard this week and thought I'd share some of my most important experiences with you.

01 - "Lowballing Follow Up"
If you send out emails with lowball offers and people reply, but make a funny comment about your offer or how low it is and they'd never sell for that, follow up and make a second, improved offer. They took the time to reply - this means they are willing to sell to you. Use this to your advantage. In my experience, on the second, the latest on the third offer they agree and I am still well below the market average.

02 - "Lowball Combination"
I found that you increase your chances of getting a good deal when buying by adding one small thing. When I lowball, I always add the following: I can come pick it up today, or even now. This got me a lot more responses, since people want to get rid of their stuff quickly.

03 - "Carry Cash"
Sometimes, it happens to me that I send out my lowballing offers and then go for another pickup in the city. Meanwhile, I get a call or email that they agreed to my price, if I come now. Well, if you don't have enough cash with you, the deal is gone (if you are dealing with expensive items, this might be a bit more delicate).

04 - "Count Your Cash"
It happened to me that I agreed on a price for an item and once I arrived there, the price suddenly went back to what it was before the agreement. Since then, I count out the cash I agreed on to buy the item for and put it in my wallet. If I have surplus cash, I put it somewhere else, like my jacket or jeans. When someone tries to pull this off on me, I tell them I have what we agreed on, show them and tell them that I buy it for the agreed price or I'll leave. Works in 9 out of 10 times.

05 - "Don't Be Afraid To Walk Away"
One of my first deals went as follows. I bought an iPod for 50 bucks and put it online for 65. Nothing too big, but took me 30 minutes and was one of my first hustles. 5 minutes after I put the ad online I got a call from a guy wanting to buy it. He wanted to push the price and referred to an offer on another site. I agree on 60. He said he had to come by car for quite a while and started now. Meanwhile, I checked for this site online (I have never heard of it before), and didn't find it. 20 minutes later, he called me again and asked me if the manual for the iPod was part of the package as well (I never advertised it like this). He said that we need to work on the price a little more if I missed the manual, but we would do that when after arriving. The third time he called me, he should have been away around 20 minutes by car, still. He asked me for the original packaging, which I didn't have (and I also never advertised it with it). He said he'd buy it for 50 in this case. While on the phone, I could hear the same ambulance that just passed in my street. I said I wouldn't sell it to him for 50. 60 it is or nothing. He pushed me, since he came so "far". I walked away from the deal and sold it the next day for 63. Just had another guy trying something similar with me. I refused and 10 minutes later I arranged a meeting for 20% of what I got offered before. I am open for bargains, since they are included in my initial asking price. But don't f**k with me.

Might seem like simple lessons, but I found them pretty helpful. Maybe they will help you too. In one way or another
All in all, the old saying "Cash is king" cannot be more true. Hustling is about being QUICK. Be quick when you buy and be quick when you sell.
Happy hustlin'!

 

[SBS.95]

01 - "Lowballing Follow Up"
If you send out emails with lowball offers and people reply, but make a funny comment about your offer or how low it is and they'd never sell for that, follow up and make a second, improved offer. They took the time to reply - this means they are willing to sell to you. Use this to your advantage. In my experience, on the second, the latest on the third offer they agree and I am still well below the market average.

Another strategy that I much prefer, is to tell people that reply "No worries, if you change your mind let me know, I have cash in hand."

I've played more than enough of the back and forth negotiating game with Craigslist people only to have it go nowhere. I'd much rather they just text me back to accept my offer. No bullshit, right on to when/where to meet.

The best are the people that get pissed/offended by a lowball offer, then come squirming back days/weeks later. Last week I offered a guy $90 on his item that he was asking $190 on. He told me to go F*ck myself. 2 days later sends me an email apologizing and saying he will happily sell it for $90 if I really do have cash in hand. I met him 45 minutes later.

 

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[TheNextTrump]

"No worries, if you change your mind let me know, I have cash in hand."

^My exact words. (No worries, if you don't end up having any luck, feel free to get a hold of me. Offers stands, with cash in hand. Thanks for your time.)

The best are the people that get pissed/offended by a lowball offer, then come squirming back days/weeks later. Last week I offered a guy $90 on his item that he was asking $190 on. He told me to go F*ck myself. 2 days later sends me an email apologizing and saying he will happily sell it for $90 if I really do have cash in hand. I met him 45 minutes later.

hahaha! again, I can so relate.

No way bro, I can get ______ on ebay! I've looked at the current listings man, I know what my shit is worth.
90% of the time the sellers have never heard of (completed listings) and base their value off the first auctions that come up. Rookies

Long story short, I've been told 100's of times (Hell no! I'll sell it for twice your offer)
2 days later, 3 days, week, even a month can go by, and BOOM.

Hey man, were you still interested in buying that _____ for the offer you originally gave me.
No sir, but I'll give you this ____. I usually knock $10 or $15 off original offer for the delayed response.
Works everytime

 

[samuraijack]

Just wanted to chime in and say that if you have any old textbooks, now is the time to sell. Winter session is starting and folks have already registered for the Spring 2015 semester. Meaning they probably know what textbooks they need and may be shopping for it.

Amazon is amazing to get rid of your old textbooks fast. Just list a few dollars under the lowest offer and it will "fly off the shelf" if your book is still being used in school. Sold 7 books + Collector's Edition video game all in the span of 2 days.

I paid amazon $60 in fees and lost a few bucks on shipping (their credit wasn't enough for some books because of the weight) and I have to wait for a refund on a couple shipping labels I didn't use. This was my first time practically selling anything online. I pretty much learned about shipping costs, weight, packaging, the time it takes from sale to shipment etc...

Anyone who is hesitating, there's really no reason. Listing on amazon, ebay, or craigslist, is extremely easy. Don't think no one wants your stuff either a couple of my textbooks I thought no one would want, and boom sold in the same day.

BTW, I just got a car, so if anyone is in NYC and starting out but is limited geographically for finding deals, maybe we can work something out, shoot me a message.

 

[DeletedUser394]

Today was a good day.

+$660.. I think, I didn't count.



I'll go to the bank tomorrow and put in about 500. Once I get to 10k, I may add to the original goal.

 

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[xkir0x]

Today was a good day.

+$660.. I think, I didn't count.

View attachment 8874

I'll go to the bank tomorrow and put in about 500. Once I get to 10k, I may add to the original goal.

What did you sell?

 

[DeletedUser394]

What did you sell?

Sexy red ipod nanos, gift cards, ps3.

It was pure profit, because I got that stuff for free from a previous deal (they were add ons)

 

[xkir0x]

That's nice!

 

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[DeletedUser394]

Easy game.

 

[GuestUser156]

Easy game.

View attachment 8888

Looking good.

What are you currently doing to keep growing the account?

Straight up hustling and contracting cleaning jobs?

 

[DeletedUser394]

Looking good.

What are you currently doing to keep growing the account?

Straight up hustling and contracting cleaning jobs?

At this moment? Neither. The weather's been brutal so not much economic action going on.

I'm leaning more towards pulling more contract jobs. It's easier money (in the sense that I do nothing) lol

 

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[GuestUser156]

At this moment? Neither. The weather's been brutal so not much economic action going on.

I'm leaning more towards pulling more contract jobs. It's easier money (in the sense that I do nothing) lol

I understand.

I felt like giving it a try, so I'm actually meeting with the owner of a regional cleaning company on monday to discuss contracting terms. We will see how that goes ... I'll hopefully be collecting checks from the beach in Thailand for the next two months .

Good luck with the challenge.

 

[CosMoen]

How much profit are you guys taking in weekly and on how many items? Ballpark ranges are fine. Just looking for some extra motivation to hustle!

 

[SBS.95]

How much profit are you guys taking in weekly and on how many items? Ballpark ranges are fine. Just looking for some extra motivation to hustle!

Are you serious? This thread was started 4 years ago and is still ongoing. 4 years of Richkid and several others, myself included, making money doing this. If that's not "motivation" enough I don't know what is.

Sorry if that comes off as harsh. But if you can't be motivated by hustling, which is like the easiest low hanging fruit out there (as in start day with $100, end day with $200), how do you expect to stay motivated to a real business?

 

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[GuestUser112]

I ran into some dumb good luck today. Starting the year right!

My Gold Supplier contact on Alibaba just sent me an email asking me if I'd like to get a sample of a new product. I looked at the product and what it was used for, and I thought, wow, this is the most ridiculous product I have ever seen. How lame are people that would use this?

I felt so strongly about it that I showed my brother. I said "Look at this ridiculous product she's trying to dump on me".

He said: "Oh yeah dude, everybody is buying those! A bunch of people I know from my high school got them for Christmas, and our neighbor just bought one! Everybody on my facebook is making statuses about them!"

...Lol.

I checked the price they are selling for, and the margins are tasty.

I put in an order for 30 pcs. People want what they want I guess.

 

[CosMoen]

Are you serious? This thread was started 4 years ago and is still ongoing. 4 years of Richkid and several others, myself included, making money doing this. If that's not "motivation" enough I don't know what is.

Sorry if that comes off as harsh. But if you can't be motivated by hustling, which is like the easiest low hanging fruit out there (as in start day with $100, end day with $200), how do you expect to stay motivated to a real business?

Fair enough. Looking for extra competitive motivation to see what others are pulling, going to hustle regardless

 

[DeletedUser394]

The 'how much do you make/how much are you worth' style of question is/was and always will be a dumb question.

I'll answer anyway. Take December 9th (when this challenge was started) to January 6th. It's not a month, but we'll call it one anyway.

As you can see I started the month with $5.5k in the account.

One month later I have $10k in the account, and around $1k reserve for future flips.

So $11k-5.5k = $5.5k/month or $1,375/wk.

 

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[DeletedUser394]

I predict this month is going to be brutal for me. My city is heavily involved in the Oil sector, so this sub $50/barrel business is not good.

That, combined with the frigid weather and I'm already seeing a slowdown.

 

[GuestUser112]

I have a question for anybody here importing from China to Canada or US.

When you order, do you find it is cheaper to order straight from China, and have them handle the shipping from China to your doorstep, or to send it to a warehouse in province and then get involved with a local shipper to pick it up from there?

@GrumpyCat do you import any products?

 

[Nicoknowsbest]

Sorry if that comes off as harsh. But if you can't be motivated by hustling, which is like the easiest low hanging fruit out there (as in start day with $100, end day with $200), how do you expect to stay motivated to a real business?

I'd suggest anyone considering starting a business with little experience to hustle for 6 months. This will teach them a ton about business in a very short time and acts as a reality check.

AND - you get paid to learn.

Additional motivation? Please.

 

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[CosMoen]

The 'how much do you make/how much are you worth' style of question is/was and always will be a dumb question.

I'll answer anyway. Take December 9th (when this challenge was started) to January 6th. It's not a month, but we'll call it one anyway.

As you can see I started the month with $5.5k in the account.

One month later I have $10k in the account, and around $1k reserve for future flips.

So $11k-5.5k = $5.5k/month or $1,375/wk.

Awesome! With profit like that and your investments, you probably don't need to rely on having another job again in order to live comfortably, am I right? Now you can work on your fast lane business in peace knowing that your basic needs can be met without having a job. Correct me if I am wrong.

 

[SBS.95]

I have a question for anybody here importing from China to Canada or US.

When you order, do you find it is cheaper to order straight from China, and have them handle the shipping from China to your doorstep, or to send it to a warehouse in province and then get involved with a local shipper to pick it up from there?

@GrumpyCat do you import any products?

My minor experience has been with Alibaba/Aliexpress, and it's all been them shipping it to my door.

I don't see why you would need a warehouse, or any other middle man for that matter, unless your sales started to get really serious and you were ordering entire palettes. Otherwise, unless you live in a studio apartment with no space, why add more steps between you and the sale?