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

bboyu

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I agree.

I used to hustle all the time using CL and other sources. A good hustler can manage to avoid having to get a job but it still keeps them in the rat race. My favorite hustle was finding a Lexus LS400 and reselling it. In LA you can find a cool 1st or 2nd Gen Lexus for close to 1k, give it a nice car wash, polish up the rims and install a shitty sound system to attract sidewalkers and BAM! in a week or two you can resell it for for 2k.

I can't tell you how many times I flipped that car for cash man! I was living the slackers dream in college thanks to that hustle, but still ...hustling isn't a good long term solution.

What's the long term solution? This is an open ended question by the way. I know of people who just buy and sell anything for a living but it's tedious work always travelling for products and then trying to flog em.

Not really building nothing as a business or a brand.
 
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rcdlopez

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What's the long term solution? This is an open ended question by the way. I know of people who just buy and sell anything for a living but it's tedious work always travelling for products and then trying to flog em.

Not really building nothing as a business or a brand.

NONE. Didn't you read? I said I made money but it was not a good long term solution to getting rich.
 
D

DeletedUser394

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Seriously I don't know how many different ways I can phrase the exact same thing.

This is not fastlane. THIS WILL NEVER BE FASTLANE. ALSO IT'S TECHNICALLY ILLEGAL CONSIDERING YOU ARE NOT PAYING ANY TAXES.

Would I rather do this than have a real job? Yes. And that is why the thread was created.
 

RBefort

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How do u make sure u dont get ripped off on electronics? Hope I didnt skip over this in thread somewhere, but...

Found kindle fire hd 8.9" with 16gb. Guy says he opened two weeks ago and doesnt use, must sell fast. Had 100 for price, offered 75 and took it. Any advice foe scam artists on electronic goods? Just try it out on the spot? Thanks.
 
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Hayden

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Just make sure it works... if buying a cell phone make sure it has a Clean ESN and no passcode, iCloud Lock etc...

Sent from my SM-T210R using Tapatalk
 

smartman

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the icloud lock has become such a burden that i stopped bothering flipping iphones.
 

Hayden

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the icloud lock has become such a burden that i stopped bothering flipping iphones.
doulci.net managed to bypass the iCloud lock in the past few weeks. They haven't released the program yet though. It's just a matter of time before it goes public now.

On another note, I have gotten burned by not checking out phones enough when purchasing.

1) He told me it was clean/clear ESN, got home and it was still attached to an account. He ended up canceling it and it turned to bad ESN.

2) Bought a "4S" from a very questionable female character, but as you may know the Sprint 4/4S look the exact same on the outside. It needed to be activated via iTunes before I could see the Settings/About screen so I didn't know until I got home. I called and she basically said "Yeah, what are you gonna do about it? Fvck off".

There was another one where I purchased a "4S" but the brightness was turned down all the way and I could barely read the screen. After I paid and he was driving off, I realized it was a 4. Luckily I saw him and followed while calling him, and he was an honest guy and gave me half of my money back.

Of course- I still made money on these deals. But point being, be 100% certain you're getting what you pay for.
 
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smartman

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the 4s has a sim card slot on the side. the iphone 4 for verizon/sprint/cdma does not have a sim card slot. that's how you tell the difference. you HAVE to get the esn, and call the cell company to check before you buy.
 

Hayden

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the 4s has a sim card slot on the side. the iphone 4 for verizon/sprint/cdma does not have a sim card slot. that's how you tell the difference. you HAVE to get the esn, and call the cell company to check before you buy.
You're right- it must have been AT&T. This was like 2.5 years ago.
 

bboyu

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NONE. Didn't you read? I said I made money but it was not a good long term solution to getting rich.

Yes I got that. But what I was referring to is if it's not a long term thing to getting rich, then what would be? would it be transitioning yourself to building a brand or a proper business or would you just become a retailer of anything and everything under one roof?

There must be a way out of hustling as such, to "make" it fastlane if it's not fastlane to begin with.
 
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D

DeletedUser394

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https://www.thefastlaneforum.com/community/threads/is-this-fastlane.52466/

Why don't you try it (hustling), then figure out how to turn an illegal activity into a 'fastlane' and then get back to US? Why do we have to tell YOU what to do?

Your post history is nothing but stupid questions. Literally I think there are only 2 posts that aren't questions, and they are just 'thank yous'.

Do you ever plan on actually doing something, or just circle jerking 'is this fastlane' until you're 80?

On April 9th, you asked the exact same question (how can we make this fastlane). In the month and half since have you done anything about it, have you tried anything? Probably not.

Do you understand that this is a way to provide yourself with food and a roof over your head. Do you understand that this can be an alternative to having a job?

Stop posting in this thread. This is a thread for those that take action, as you can see from the other people's posts right above you who are discussing ACTUAL ACTION. You're turning it to crap.

Seriously. STOP. POSTING. IN. THIS. THREAD... until you actually do something.

Quit wasting everybody's time.
 
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smartman

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no clue how many times it needs repeating- this is not very scalable/fastlane. if anything, it gives you the opportunity to make the same amount of money you would in an 8 hour work day, in about 45 minutes, if you know what you are doing(and lady luck is on your side). the freeing up of the rest of your day is what this is all about.

I'll save my bootstrapping/hustling stories, as I've been at it tenaciously for almost 2 years straight now. This whole thread will give you the money you need to do whatever it is you want. You can buy a house and get out from underneath student loan debt with this information. you can make it a very well paying job, without any degree or certification. You can also make it an excuse for doing nothing if you want to act like a F*cking loser.
 

CreateLiving

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A lot of people making money out there through arbitrage - exploiting the different perceived value of goods or services for personal gain. Hustling.
 
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CreateLiving

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That's the entire purpose of this thread..
I understand that, I actually use a model directed toward international web design arbitrage. All you need is a solid portfolio and you can outsource these jobs to India to make a tidy profit.
 

bboyu

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I don't know if this question has been asked here before or not but here goes. What is the main avenue to sell through if you want to do this in a legitimate way but create a structure for it for tax purposes? i.e pay less tax on your income? Do you plan for tax before embarking on this?

If not then how can one hide well? do you keep your transactions levels low? you don't sell online at all? only sell offline?

If you sell offline all the time where would you sell the things you have? If you sell online everything can be tracked so what's the inner workings of something like this?

I know I may get the advice to go to an accountant but everyone who has made at least a 1000 a month from their own ventures on the side know this is something one can actually live on as small of an income it maybe and may be taxable so if I can get some sort of an indication regarding the above please thanks.
 
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D

DeletedUser394

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I don't know if this question has been asked here before or not but here goes. What is the main avenue to sell through if you want to do this in a legitimate way but create a structure for it for tax purposes? i.e pay less tax on your income? Do you plan for tax before embarking on this?

If not then how can one hide well? do you keep your transactions levels low? you don't sell online at all? only sell offline?

If you sell offline all the time where would you sell the things you have? If you sell online everything can be tracked so what's the inner workings of something like this?

I know I may get the advice to go to an accountant but everyone who has made at least a 1000 a month from their own ventures on the side know this is something one can actually live on as small of an income it maybe and may be taxable so if I can get some sort of an indication regarding the above please thanks.

You've asked multiple variations of this exact question in this very thread...

It is not a way to live, it's 100% illegal from a tax standpoint. It's a temporary way to make money to pay urgent bills or to fund a legitimate startup

As I said to you last time.. and the time before.. why don't you figure it out yourself?
 

early riser

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It's not going to be fastlane but you can make money off it to fund other things worth chasing.

Flipped a few cars off it
General rule, if it goes into drive, already worth 500. If it has functioning 4x4 it's worth a grand min.

Other time people might as well put cash on the curb, for example:

East coasters, look for lawnmowers in the trash come spring, most of them don't need much and get replaced when really just an easy fix.
Also if I saw little tikes anything on the curb it hit craigslist after a good scrub, that stuff sells super easy all day.

In addition, buy things off season and wait to sell when they come back in.

Lastly, look for obo anything. All you have to do is find someone willing to negotiate but be the person when you go to resell it later that doesn't.
 
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SBS.95

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I don't know if this question has been asked here before or not but here goes. What is the main avenue to sell through if you want to do this in a legitimate way but create a structure for it for tax purposes? i.e pay less tax on your income? Do you plan for tax before embarking on this?

If not then how can one hide well? do you keep your transactions levels low? you don't sell online at all? only sell offline?

If you sell offline all the time where would you sell the things you have? If you sell online everything can be tracked so what's the inner workings of something like this?

I know I may get the advice to go to an accountant but everyone who has made at least a 1000 a month from their own ventures on the side know this is something one can actually live on as small of an income it maybe and may be taxable so if I can get some sort of an indication regarding the above please thanks.

You need to just experiment yourself to find the answers to these questions. I've been doing this for my full time income for almost a year now, and I've been hustling since reading this thread 2 years ago. Trust me, if I can make easy money doing this, anybody can. @RichKid has provided more than enough gold in this thread.

To answer questions like that would take forever. I could probably write a book on just obtaining inventory, and then an entirely different book on the best avenues to sell different pieces of inventory (fastlane idea ding ding ding.)

You've clearly been following this thread for a while. You want advice? Tomorrow I want you to not come onto this forum at all. Instead go to your local Craigslist and find 20 people selling a high-demand item (ipod, ipad, xbox 360/one, ps3/ps4, iphone, samsung galaxy, etc.) Send those 20 people an email where you offer to come meet them right then and there cash in hand. 1 out of those 20 will accept. Take it home. Research what that item is going for on craigslist, amazon, and ebay. Decide the best place to sell it and factor in your fees/shipping/time. Then come back here and report.
 

twdavis

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I've been expirimenting with this for a few months and haven't had an overwhelming success.

Does it work better to lowball the people when you get there instead of over the phone?

Like say "I've got cash I can meet now" then meet them and lowball them on the spot?


Sent from my iPhone using Tapatalk
 

Thiago Machado

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I've seen threads before about re - selling fiverr gigs for a higher price.

Has anybody ever had any success in doing this? If so, which gigs are the best to sell?

I figured that this may be a quick and easy method to make a buck offline.
 
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adamhenry

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I've been expirimenting with this for a few months and haven't had an overwhelming success.

Does it work better to lowball the people when you get there instead of over the phone?

Like say "I've got cash I can meet now" then meet them and lowball them on the spot?


Sent from my iPhone using Tapatalk
I flip bikes.

If it's the case that I've jumped on a recently posted bike that was listed too low, I send an "I'll take it" email . Then when I get there I might say "hey, look it's got a little more rust than I was expecting. What's the best you can do on the price?".

If I'm trying to create a deal, I'll go through old ads and lowball via email looking for the person that'll bite.
 

SBS.95

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I've been expirimenting with this for a few months and haven't had an overwhelming success.

Does it work better to lowball the people when you get there instead of over the phone?

Like say "I've got cash I can meet now" then meet them and lowball them on the spot?


Sent from my iPhone using Tapatalk

Personally I'm not a big fan of lowballing people on the spot. Just because I've had people do it to me, and I find it to be annoying and a waste of time. I like to make sure I'm getting a good deal before I take 1 foot outside the house. No point in wasting my time/money/gas going someplace unless I know it's a profitable trip.

Are you not having success finding deals, or unloading them for the profit you expected?

If it's the former, you just need to lowball more. I don't know who said it first but.... it's like asking out women. The more offers you send out, the more "yes" you will hear. If it's the latter, be more realistic about the sales price of items before you go out and buy them. Calculate fees if you plan on reselling on ebay/Amazon (approx 15%.) Also note if you resell your item on CL you won't get as much money as someone on ebay or amazon would- just not gonna happen.
 
D

Deleted25642

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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.
Best thing I've read since joining the forum. That's so awesome. Your work ethic is outstanding.
I have some skin in the game now thanks to your posts and great guide here.
I listed my stuff on kijiji, and will duplicate additional adds on CL if it doesn't move. I think Kijiji is more popular than CL in Canada for some reason. If someone thinks otherwise, I'm here to learn and implement :)
 
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Vigilante

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Regarding lowball offers : know exactly what you are looking for. Don't be afraid to make 10-20 ridiculous offers before someone says yes. What do you care? If you didn't get at least one "you are an a**hole" response, you are probably not going deep enough. You are looking for the person who has to sell. You're not in this to find your new BFF. Donald Trump once said he makes 99 insulting real estate offers, looking for the 1 that will say yes.

I was negotiating on a Ford Ranger the other day, just for fun. Ask price was $2700. I offered him $1700. He wanted to field a few other offers first, and ultimately I lost the deal. He sold it for $2300. Had I gotten it done, with cash in hand... I probably could have bought it for $1700 and sold it for $3k. Rinse, wash, repeat. Afterwords, he told me the reason he put it on Craigslist was because the dealer offered him $1050. Think about that. The dealer offers $1050 and either sends it to the auction, or sells it off for $3k.

There's money to be made, but you have to be buying at ridiculous prices.

My son is working in a hard core, blue collar job right now. I wanted him to. His boss is a 35 year old guy, working 40 hours a week for $12 an hour. Everyone needs a taste of that so that you know exactly what you don't want. He had to learn it on his own. He had to reach the breaking point before he was ready to understand there was a much better way.

I am going to flip a car or two over the next 3-4 weeks. That way, when my son and I sit down to talk about his shit job for no money, I can show him how in a few deals, with a few hours, I made 3-4x what he made working 20+ hours a week for almost poverty wages. Once he sees the math he will never go back.

Anyway... anyone following RichKid's method... here's your challenge. Make 20 ridiculous offers, and see what you can get. You are searching for the diamond in the rough. You can't pay retail and expect to make a profit. You have to figuratively find a steal of a deal in order to make any significant money. Be willing to take risks. You don't get what you don't ask for.

I bought a table last week off of Craigslist I had been searching over a year for. It was to replace a family heirloom. Ethan Allen Old Tavern Chess Table with 4 captains chairs. After searching across the country for a year, I found a complete set located an hour away from me. It was worth maybe $1k, but for sentimental reasons, I would have paid whatever. But... it was listed for $450. I emailed them, told them I could come right away, and asked for $300. They confirmed they would do it for $350. Dropped 25% before I even showed up. Turns out, the guy's mother had moved into a nursing home, and they just needed to clear the stuff away. He just wanted it gone. It's beautiful, and in mint condish for a table manufactured in 1969. Point being... the strike price for me was what ever I was willing to pay. The pain point for him was not the $$, but the fact that he wanted to get rid of it. And that is what you are looking for.

You could do this all day long.
 
D

DeletedUser394

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Best thing I've read since joining the forum. That's so awesome. Your work ethic is outstanding.
I have some skin in the game now thanks to your posts and great guide here.
I listed my stuff on kijiji, and will duplicate additional adds on CL if it doesn't move. I think Kijiji is more popular than CL in Canada for some reason. If someone thinks otherwise, I'm here to learn and implement :)

We're in the same city ;)
 

GravyBoat

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I did a little write up on my CL ventures.

EDIT: Sorry, had to take down the link.
 
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adamhenry

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Anyway... anyone following RichKid's method... here's your challenge. Make 20 ridiculous offers, and see what you can get.

That would be fun to see a bunch of us take this on as a challenge and post results - even if you don't go buy the item, just see what success you have with replies.

I'll do it!

Hmm, what should I go shopping for...
 

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