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

[Vigilante]

Boone. This forum is ENCOURAGING him to write the eBook, and I bet there are lurkers who will buy one. He's sharing his roadmap as he goes. He's contributing to other people's learning here. If he can turn his ideas into cash I don't think MJ will find fault in his discovering who he is along the way...

Well done Ryan. Keep going.

 

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[DeletedUser394]

Thanks everyone.

Just closed deal #50. I did a rough count of my current inventory, and it's somewhere around 78...

Think about that, in under two weeks, with no money ($0 to start this), I acquired 78 different things that add up to around $1,800. I have at least one of practically every item, in every category, ever sold under or around $100 haha.

Anybody can do this! And the excuse of 'I don't have any money' just doesn't work. I don't even remember what it was that I sold originally, but it was for $40 cash and it was something that I hadn't used in years.

I don't have a calculator handy but $40 to $1,800 sounds like a pretty killer return.

Feels weird to say, but I'm 'mentoring' one of my friends...who happens to live 2,400km (1,800 miles?) away from me. And guess what, his first weekend he made over $200 profit. He thinks he can pay off his car within a few weeks at the rate he's going.

Location is irrelevant. You could be living in Antarctica, so long as you have an internet connection, you're good to go.

As for where I'm taking this, there is little barrier to entry. As I said, anyone can do this. So my advantage is in progressively purchasing items of greater and greater value. Anyone can put $100 down on an ipod...not every one can slap $5,000 cash on a car.... fewer still can do that five days straight. (if the opportunity arises).

Also wouldn't mind flipping a house or two in the future. Everyone has to start somewhere, and while I may have started at the bottom, I sure as hell ain't staying there. Every day is a chance to make money if that's one of your goals. Don't waste it. (Or waste it, and leave more money for me, I don't mind! )

 

[Luke12321]

I have looked at flipping some craigslist stuff before. Once I buy my house, I will def be buying all my furniture, ect off of craigslist. I am going to do a challenge, just for the hell out of it, to see what I can furnish my entire house for.

So out of the spirit of this thread, I found a huge lot (right in my little town) of video games. Literally 100's of consoles, controllers, adapters, ect.

Quick search on ebay completed listings, even estimating consoles at "as-is or for parts" price and taking out for paypal/ebay fee's, they are probably a $2,000-2,500 profit margin.

I have enough stuff to sell (clothes) at this point, but considering how large of a lot he has, I would imagine he would be hard pressed to find someone willing to pay cash for it all in one lump sum. We shall see if he responds....

If I wasn't ebay savvy, I wouldn't tackle such a large deal at first but I get a good idea of the value quickly and already have employee's who can handling the listings side of it. Easy money.

 

[biggeemac]

Haha Ryan.....exactly my thoughts. How would you like to have THAT as your Facebook status update? " yeah, I saw a good deal on a house so I paid cash for it. Shouldn't have a problem selling it within a couple weeks". Lol.....cash rules!

 

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[Newbie]

Another area you guys could focus on is giftcards. I found an auction here (http://buffalo.craigslist.org/vgm/2744713257.html) for a guy selling his Gamestop 1k giftcard. After confirming the amount during the purchase, you could flip it via Cardpool (Sell Gift Cards - Earn up to 92% Selling Your Gift Card | Cardpool). Currently they would give you 750 for the 1k card. Sadly im unable to purchase that atm and there for emailed him telling him about Cardpool (Im a nice guy) but this could be applied to alot of different vendors. Just another idea.

 

[DeletedUser394]

Made $300 today, and in the process received my first '**** you'.

Certainly interesting. It upset me for about 5 seconds. Then I moved on.

Another tip: Never get emotional. There's just no reason, it will only slow you down or throw you off your game.

I would say 'try to never get emotional', but no. You either commit to doing something, or you don't. I'm not 'trying' to make $10K, I'm going to make $10K. How am I so sure? Because I'm working towards it each and every day.

I'll take inventory later tonight, but I'm pretty sure I've past $2,000.

 

[Sharp]

Certainly interesting. It upset me for about 5 seconds. Then I moved on.

Another tip: Never get emotional. There's just no reason, it will only slow you down or throw you off your game.

Congratulations! Not many have that kind of tolerance. I get emotional at times too but once you put perspective on it, you realize that its nothing.

 

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[oddball]

Made $300 today, and in the process received my first '**** you'.

Certainly interesting. It upset me for about 5 seconds. Then I moved on.

Another tip: Never get emotional. There's just no reason, it will only slow you down or throw you off your game.

I would say 'try to never get emotional', but no. You either commit to doing something, or you don't. I'm not 'trying' to make $10K, I'm going to make $10K. How am I so sure? Because I'm working towards it each and every day.

I'll take inventory later tonight, but I'm pretty sure I've past $2,000.

Haha, I've had that happen. Had plenty people ask if my head is unscrewed. Usually happens with me offering, what makes it even better is when they come back a week later because they can't sell it and you have cash. Always makes ya smile.

Buddy and I are trying to buy a bike right now. He is asking 5, we offered 4. Could sell it in the spring for 6 fast, or 6.5 if we sit on it a bit. He went on and on about how he could get more. We just told him we have cash and will buy ASAP. We will see what happens.

 

[Excalibur]

Holy wall of text batman.

haha, true. At least I broke it up. I nearly go blind trying to read novels that have no paragraphs.

 

[Excalibur]

Made $300 today, and in the process received my first '**** you'.

Certainly interesting. It upset me for about 5 seconds. Then I moved on.

Was it the same transaction or a separate occasion?

 

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[Rickson9]

You definitely can't get emotional when you're the buyer. The seller can rant and rave, cry and bitch, and you just have to stare and restate your offer. It gets 10x easier the 2nd time it happens and after that, it's never a consideration.

 

[DeletedUser394]

Was it the same transaction or a separate occasion?

Separate. The $300 profit was a combination of two deals that I made today.

Most people are also extremely unreliable/flaky, so that's the good thing about having so many things for sale at any one time. The only person who I was expecting would contact me today (because he said he would the previous day), I never heard from... and instead got two new sales.

The weirdest people are the one's SELLING stuff, and they won't even return your emails/calls... I've offered a few people full asking price for items...and yet they never respond to me and I notice they relist the item every day for the price that I offered.. WHAT?! I guess my money isn't good enough haha!

Haven't gone a day where I haven't sold something. Not yet anyway.

 

[johnny84]

Made $300 today, and in the process received my first '**** you'.

Did you über low ball the guy or was it a half-reasonable offer? Just curious.
Working my first deal now. I'll keep ya'll posted. :coco: fist pump

 

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[DeletedUser394]

Did you über low ball the guy or was it a half-reasonable offer? Just curious.
Working my first deal now. I'll keep ya'll posted. :coco: fist pump

I offered him 75% of what he was asking. I expected him to counter half way, instead he screamed a certain profanity and shut the phone, hahaha some people...

gogogo get them $$$! (let us know what happens!)

 

[The-J]

I will buy your e-book. ^_^

 

[Vigilante]

Did you über low ball the guy or was it a half-reasonable offer? Just curious.
Working my first deal now. I'll keep ya'll posted. :coco: fist pump

Your JOB is to über low ball. I'm not interested in buying products at market price. When I am buying off Craigslist, I will make dozens of lowball offers to find the right deal(s). I have 0% fear of offending anyone. Why do I care? I am looking for people who need cash and or need to unload what they have.

I will make 10 rediculous offers to get the 1 old lady that says yes. There's no downside. Ryan, having someone hang up on you tells me you are doing this RIGHT. You're not out there trying to win friends. You're looking for CRAZY deals that you can then convert.

This strategy doesn't work if you make reasonable offers. Make INSANE offers, and find the ones that stick. I heard Trump say in an interview one time that he will make 100 lowball real estate offers until he finds someone that will sell at his price.

Be AGGRESSIVE. Take RISK. Hurting someone's feelings --- does not apply --- to buying merchandise.

 

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[DeletedUser394]

Yeah, I'm going to start doing that.

Just been spoiled with good deals (I usually just pay whatever they are asking). When I can flip something for 500% even though I'm paying whatever they are asking, I'm okay with that.

Now that I'm transitioning to more expensive things, the returns (as a percentage) will probably be lower so I'll start negotiating/lowballing.

 

[Whole Paradigm]

Ryan,

Don't know if you're doing it already but check the free section. I get a lot of my inventory from the free section and flip it for profit. I can't see why anyone WOULND'T do that.

Cory

 

[oddball]

I offered him 75% of what he was asking. I expected him to counter half way, instead he screamed a certain profanity and shut the phone, hahaha some people...

gogogo get them $$$! (let us know what happens!)

Your JOB is to über low ball. I'm not interested in buying products at market price. When I am buying off Craigslist, I will make dozens of lowball offers to find the right deal(s). I have 0% fear of offending anyone. Why do I care? I am looking for people who need cash and or need to unload what they have.

I will make 10 rediculous offers to get the 1 old lady that says yes. There's no downside. Ryan, having someone hang up on you tells me you are doing this RIGHT. You're not out there trying to win friends. You're looking for CRAZY deals that you can then convert.

This strategy doesn't work if you make reasonable offers. Make INSANE offers, and find the ones that stick. I heard Trump say in an interview one time that he will make 100 lowball real estate offers until he finds someone that will sell at his price.

Be AGGRESSIVE. Take RISK. Hurting someone's feelings --- does not apply --- to buying merchandise.

Yea I agree, no offense Ryan but you don't lowball enough. You are obviously doing really well as it is but you could be doing BETTER. You can always go up but you can't go down. Just figure out the price you want to pay, offer under it, move up to it if you have to but thats your walk away point and tell them the offer stands if they change their mind.

Ryan,

Don't know if you're doing it already but check the free section. I get a lot of my inventory from the free section and flip it for profit. I can't see why anyone WOULND'T do that.

Cory

I've done this a little big, you can find some good items that people are too lazy to sell, they just want someone to come take it away. Their loss, our gain.

 

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[DeletedUser394]

I'm happy where I'm at and what I'm doing.

I have a plan, and am executing it, but thanks for the advice.

 

[johnny84]

Your JOB is to über low ball. I'm not interested in buying products at market price. When I am buying off Craigslist, I will make dozens of lowball offers to find the right deal(s). I have 0% fear of offending anyone. Why do I care? I am looking for people who need cash and or need to unload what they have.

This approach is a heck of a lot more proactive. My initial concern was spinning my wheels making offers that don't pan out, then I realized I'm spending a lot of time scanning for the up-front deal. And I think you're onto something about objectifying the process-it's not about feelings. It's about the goal.

 

[Anon3587x]

I buy an item off ebay for 66$ and it sells EASILY for 120$-140$ and on a few occasions I've sold it for over $200.

Sometimes I'll sell bulks of 10 for 100$ ea just to keep the keep my money velocity rotating. This product comes factory direct and is in unlimited supply. If you don't live near me, I'll share the idea for a fee of $200.

The product actually sells for 80$ on ebay, but since I'm a frequent customer I acquire for 66$. I will PM the seller your ebay id and you will be able to get the item for 66$ too.


If interested PM me.

 

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[MJ DeMarco]

Ryan,

What was the first item you sold for $40 that you already owned?

 

[Whole Paradigm]

I buy an item off ebay for 66$ and it sells EASILY for 120$-140$ and on a few occasions even more.

Sometimes I'll sell bulks of 10 for 100$ ea.

this product comes straight from a factory so it's unlimited supply. I'll tell anyone who doesn't live in my area what it is and how I've been slanging it like hotcakes for a 200.00$ paypal donation

The product actually sells for 80$ on ebay; but since I'm a frequent customer I get for 66$. I will PM the seller your ebay id and you will be able to get the item for 66$ too.


PM me.

All you're asking for is 200 bucks to give away the secret product thats been flying off your shelves?

 

[Anon3587x]

All you're asking for is 200 bucks to give away the secret product thats been flying off your shelves?

I don't sell this product online.

So long as you don't live in my locale you aren't competing with me. My goal is to build capital until I can move on to more expensive things.

I usually buy 3 products for $200 which I then flip for $420.

 

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[Anon3587x]

I don't mean to get into your business but have you ever thought of selling it online? If you've found that people are buying these "left and right" could you figure out how to sell it online?

Again, you have your own plan and know better than anyone I would just hate to see someone throw away a great opportunity for making extra money to fund their other endeavors. Or does it not make sense to sell it online for some reason?

The problem with selling it online is you can buy it for 80$ if you knew where to look.

If anything, I'll drop ship the product.

As of right now I'm already making a few grand a month doing stress free work and I'm going to take it slow. I really don't even need this much money to do what I do. I'm not a very materialistic person and I only want money for freedom and to travel.

 

[rc08234]

That little tip about the free section is a gold mine!!

Secretary, desk, tv

Bush corner TV/audio cabinet

PDC Hot Tub****Taken****

 

[DeletedUser394]

Ryan,

What was the first item you sold for $40 that you already owned?

It was an early 90s gameboy with a couple of games that was sitting in my closet since elementary school.

They sell for ~$25 on ebay, minus shipping.

 

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[Anon3587x]

That little tip about the free section is a gold mine!!

Secretary, desk, tv

Bush corner TV/audio cabinet

PDC Hot Tub****Taken****

In my area all i see is kittens and old dogs.

 

[DealMaker]

This is a cool thread... Thanks to the OP for sharing! I'm trying to talk the wife into a friendly competition to see which one of us could do the best over 30 days or so with $50-$100 in starting cash.

If she bites, maybe I will post some updates on the Fastlane Forum.

With that being said...

I used to do some "hustling" long before Craigslist... In the early 2000's, I used to go to this little computer shop that was only open on Saturdays and buy a bunch of components. I'd then assemble the computers and then put ads in the paper to sell the computers.

I really didn't do it for the money... I was a computer geek back then, and I just did it to fund my computer and gaming addiction, but I made a little bit here and there.

Certainly not "fastlane," but there are some solid "fastlane" takeaways for sure with this sort of thing.