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$20,170 Flip Challange

Discussion in 'Hustles, Freelancing, Bootstrapping' started by gabeb1920, Jan 5, 2017.

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  1. gabeb1920
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    gabeb1920 Contributor Read The Millionaire Fastlane FASTLANE INSIDER

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    Thought Id share this video I just watched. Not fastlane but very much hustle and could lead to some easy side income for those just starting out like me! :)

    Hope it's useful

     
  2. Argue
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    Argue Silver Contributor Read The Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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  3. ZF Lee
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    ZF Lee Silver Contributor Read The Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I'm not into flipping, but that could be an option to raise startup capital...and it needn't be much!:)
    Oh wait...I'm on the Internet...I could use open-source and free stuff first:banghead:
     
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  4. VDon
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    VDon Contributor

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    So far I have learned that flipping brand new electronics is a very stupid idea. Made a €100 loss on a brand new unopened IPad Pro...

    Bummer...

    Will stick to the plan though - looking at used watches now.


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  5. harryx
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    harryx New Contributor

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    Hi VDon,

    Yes - I think watches is a good way to flip, obviously we arent talking lcd casio watches here but more your top end caliber like antiques (classics) or modern high quality ones like Rolex, Rotary. May be even some designer brands but its the precious metals and precious gem stones that add real value. Please keep us updated on the watch venture. :)
     
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  6. VDon
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    VDon Contributor

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    More than two months later I am about to give up. The market here in Austria is too small, I flipped one Bell and Ross for a profit of roughly €100, but had to spend like 25 hours for it.
     
  7. mrc89
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    mrc89 New Contributor Read The Millionaire Fastlane

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    Sounds like a fun challenge, lets see how much I can make in my spare time
     
  8. Sander
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    Sander But I get up again... Read The Millionaire Fastlane FASTLANE INSIDER

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    Used 10 minutes I had to spare earlier today to post some items (Xbox 360, Playstation games etc), which I haven't used in years, for sale online. Made $80 so far in 3 sales, and people just came by and collected the items. Almost no work in it for me. Don't know if the hourly rate will be interesting, if I had to go out and find stuff to flip, but it's nice to exchange some items I haven't used in years for cash.
     
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  9. Under-Dog
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    Under-Dog Contributor Read The Millionaire Fastlane I've Read UNSCRIPTED

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    There is a lot out there my friend! Be sure to visit the thrift stores and yard sales even flea markets.
     
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  10. Sander
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    Sander But I get up again... Read The Millionaire Fastlane FASTLANE INSIDER

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    So I made my first $6 from flipping. Bought Harry Potter 1-3 hardback for $9, sold for $15. Also bought an old typewriter in perfect condition for $5, which is going for $90-130 online, so looking forward to get that one sold.

    A nice little hobby to do with my girlfriend which we both enjoy. Maybe think my goal is to pay off my car-debt this year with this method (yes, bought before I got an Unscripted mindset, I know..)
     
  11. VDon
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    VDon Contributor

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    I have spent a few more hours flipping nonsense items. Hourly rate is ridiculously low.


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  12. Under-Dog
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    Keep working at it! Lately I've been doing a lot of retail arbitrage, the other day I spent 45 minutes at a store looking for inventory. I then spent another 15 minutes preparing these items to be sent to Amazon FBA. I ended up profiting $130 from these items, no it's not a lot of money but for $130 for an hour worth of work? I'll take it all day.... We have to hustle and do the necessary to hit the fast lane life.
     
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  13. KLaw
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    KLaw Silver Contributor Speedway Pass

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    Care to go into a little more detail? If not, that's cool.
     
  14. Under-Dog
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    For retail arbitrage? Just visit the big box stores (Walmart, Target, Home Depot, etc...) and look for items that you can sell for more online on ebay or amazon. You can visit any store, thrift store, surplus, pawnshop, etc... Go to yard sales and estate sales, look for items on all your local selling platforms as well: Craigslist, offerup, first5, Facebook groups whatever you have around you. There's a great thread on here about this let me lookup the link for you

    Edit:
    Here is the link
    GOLD - A Hustler's Guide To Buying And Selling Anything (Part 1)


    Bootstrapping and Flipping on Craigslist Self-Employed Work from Home'
     
    Last edited: Jun 20, 2017
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  15. VDon
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    VDon Contributor

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    Impossible to do so in Austria, as you need to have a registered business- setup fee at least a few hundred Euro.


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  16. Under-Dog
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    So your barrier to entry is higher, but nothing is impossible.
     
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  17. Gigi Rodgers
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    I was flipping some things laying around the house on EBay that paid off $2K worth of credit card debt. That made me CC free for the first time in 8 years.
    Doesn't sound like a lot, in retrospect, but at the time - I felt like I was moving mountains.

    After that, I bought a 12-pack of inflatable emoji balls from Amazon for $16 (including shipping), and then flipped them on Craigslist for $10 each. HA!
    And they were selling!

    If I were still in the States, I'd set up my lawn chair on the beach with a box of inflatable emoji balls and a tire pump, put a sign in front of the balls that said $10 EACH. And an upsell - I'd have a cooler of cubed watermelons, in a clear to-go box. Buy the watermelon for $5. I can probably get between 8-10 boxes made (more depending on the size of the watermelon). And sell each to-go box for $2-$3.

    And yes, STILL hitting up thrift stores, Amazon, Marshalls, and more - flipping all kinds of stuff!
    That's what I miss most about the US right now - I can't really do THIS anymore. I had so much fund doing this. The flipping that is.
    Not the fruit bowls. I had that idea later. Just tuck that away for now, to use on a later day.
     
  18. VDon
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    VDon Contributor

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    Yup, or I am using the wrong sites. I'll try eBay next.


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