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

[DeletedUser394]

I definately wont be doing this forever. I dont like the idea of having a business that doesn't create VALUE....or create anything for that matter....except some extra money in my pocket.

I disagree. (Not about doing it forever, but about value). I buy stuff off of people that don't want them anymore, and sell them to people that do.

My service is valuable to the sellers and the buyers respectively.

I take things off of people that want these items gone, and I give them to a whole other group of people that want them. The spread/profit margin is the payment for the service (value) I provide.

90% of the deals (on the sell side mostly) I do makes people smile (especially when it has to do with games that they remember playing as youth).

If you weren't providing value, you wouldn't be making any money in the first place, because if no one valued the items you were trading to begin with, then there would be no money to make.

I don't care about value, I care about money, but you can't make money, if you don't provide value.

Just like how some people say that Wall Street doesn't create any value... of course it does. An example: Fund managers create value to their investors through their services and/or returns.... that's how they make money by providing a service that people find valuable.

 

[DeletedUser394]

Can people stop bringing up drug dealers.

Have you read the thread at all? Pretty much covers everything you are asking...

So many questions, but here goes;

I don't live in the US either. This is not fastlane. This is a way to make money to invest in your fastlane ventures/ventures of other people. Nothing about this is fastlane.

If you know that product 'a' sells for 'x' dollars, and you see it for sale for below that amount, you buy product 'a' and resell it. It's that simple.

If you know there is a market for Apple products, buy Apple products. The product doesn't matter, you can buy and sell anything.

 

[DeletedUser394]

No, I'm not interested in rehashing what I spent well over 2 years documenting step by step. That exact information is located within this thread for FREE.

I'm sorry it might take you a couple of hours to read.

 

[GarrettUK]

So I had to go to Birmingham yesterday (about 100 miles away from home) for a meeting (my slowlane job) and took an hour for lunch.

I went onto Gumtree and found a great little deal on a bike for £30 in the area and contacted the seller who said it was available and would hold it for me until I could pick it up.

I took the photos from the ad and reposted it my home town immediately after I put the phone down - for £100

Within an hour I had two people lined up to buy it!

Picked up the bike and sold it on the way home!

£70 in the bank!


Sent from my Nexus 7 using Tapatalk

 

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[DeletedUser394]

on another note, this thread has surpassed 100,000 views. That's crazy.

 

[Excalibur]

Paid $1,300 for this. Sold it for $3,300. Extra misc parts in bed I sold for $1,000.

 

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[DeletedUser394]

Start off by figuring out how you can take $160 and turn it into $200.

Really the figures and size of the deals don't matter. Just start.

Wishing will get you nowhere, but by actively pursuing your goal(s) you'll get to the point where you can flip a car for $4K.

 

[DeletedUser394]

Not going to update this every day, mainly going to stick to whenever I make a big deal. Today is the biggest one so far.

Got a $600 store credit (never expires) for $320. Going to sell for somewhere between $500-$550. The person didn't realize that this particular store offers 50% cash value on store credit... so if I can't sell I'll just recoup my money.

The word 'no' means nothing to me. Received probably 20 complete rejections, 5 counters, and 1 bite. That 1 is the only one that matters frankly.

Need to parlay this indifference to the dating game... although now that I'm doing well (financially and otherwise) I don't want a gf to bleed me dry of my money. So that'll wait.

Haha, the takeaway lesson is don't give a flying fart (lol?) about rejection. There are a thousand different sayings that I could quote 'You miss 100% of the shots you don't take', 'the best hitters in the world miss 70% of the time' blah blah blah.

If you want to succeed doing anything, you can't be afraid (or at least you can't let fear control you) of rejection.

Do any of these people's opinions matter? Does a random two letter word really mean anything? No. (lol)

What the heck do you have to lose by asking? Pretty much applies to anything. If you didn't have something before and you receive a rejection when asking for what you want... well you didn't have it to begin with so who cares.

Become one with the 'no'. To me 'no' simply means try again, try harder, and try more often. But as Master Yoda so wisely said: "Do, or do not. There is no 'try.'"

 

[DeletedUser394]

Just finished re-reading the entire thread. Wow, what a roller coaster lol.

I never did update to say that I sold all of those baby shoes. A lady came by a year or so ago and bought them all. She ended up taking them to an orphanage in Africa (Kenya specifically, I think) which was a pretty cool ending for that.

More than half of the people that posted in this thread over the past 3 years are no longer around. Quitting is easier I guess.

 

[SBS.95]

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.

 

[Mike Kavanagh]

Thanks. for the reply. So yeah say if I get some products to sell on ebay via paypal - because I know once a potential customer expresses an interest i.e bids - then he/she will 99% have to buy - unless they want their own a/c in detriment. With CL or Gumtree etc there isn't that security - what are the other ways around this as you were saying?

Also with buying and selling property you would definitely have to pay tax wouldn't you?

Look man, I'm going to be blunt.
Either shit or get off of the pot.

Everything is you're saying is excuse a or excuse b.

JUST FREAKING TRY IT.

 

[DeletedUser394]

I BIRTHED A GOLD THREAD OMGOMGOMGOMGOMGOMGOMG.



Sounds weird, but haha this is cool.

Keep it going ladies and gents! Make them $$$$.

 

[Nicoknowsbest]

Did 4 deals for 140€

@RisingStars - This is what matters. You read the thread. And. YOU TOOK ACTION.
And 140 in profit for your first week is pretty solid, IMHO.

Some people would use the fact that craigslist is more or less non existent in your country as an excuse.
You found a way around it and didn't let it stop you. This is a very big step!

Congrats, keep it up

 

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[GuestUser140]

How long do you Guys keep the inventory before selling at loss eventually to let that go?

Repeat after me: the money is made when buying.

Not adhering to that rule alone will get you in the situation of having to sell at a loss. If you happen to be in that situation, sell fast. Bite the bullet, lesson learned. Don't let it drag on.

 

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[MJ DeMarco]

I have 8 crates of plastic-enclosed comic books

Wow, how'd you score those? Childhood?

Just please be careful selling, they could be worth a lot of money. You would hate to sell all 8 crates for $200 only to find out later they were worth $20K. Comic books tend to be like baseball cards, most aren't worth a lot -- but a few could be priceless.

 

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[Dave Daily]

Here's a Craigslist > For Sale > Free to Facebook Marketplace arbitrage that has made my daughter $87 in one day. She's 19 and excited about not having to apply for a job because of it. Check it out! Costs nothing but time and gas:

 

[Sky]

Probably, but more so because you're 30 years old.

True. Age is something is something that is earned and is a poor measurement of character. In the same context, One could say someone who is 19 could hardly understand what it means to be a "hustler".

My initial post was to fortify your definition of a hustler as someone who is in positive respects as modern society shuns the hustler as someone who takes advantage of those who are simple minded. I was confused by your remarks and your offense to my comments. I was merely trying to expand on your idea and give it some insight.

The fact you would ignore me and not have a healthy discussion about the art of hustling,(I do live in the ghetto.) shows me you have still some growing to do since even from people you disagree with, there is knowledge to be found. I wish nothing but the best in your endeavors and know better to get in a bickering battle on a forum with someone as established as you. Though you have already ignored me, I doubt this post will find you but I hope its message you reach you in good regards in due time.

 

[oddball]

I definately need some help with this.....I think I have the ambition and the right idea but im not doing SOMETHING right.

Takes some time to get into the swing of things. Just always remember you don't have to buy any item so don't ever pay too much. It is all a numbers game, if you can buy it a price that gives your room for a nice profit, jump on it. Just keep searching for items, their are always deals out there. When you search CL, trying using these search terms:

Must sell
Need gone
ASAP
Mortgage
Divorce
Payments
Etc...etc...

I usually do this first so I can see right away some of the people who are in a bind for money and usually can talk them down quite a bit. Like Ryan said before, if someone denies your offer, don't play volleyball with them, just tell them the offer will still stand and you have cash.

 

[MJ DeMarco]

Ryan,

Just an observation; tickets are a much more dangerous game.

To make an analogy ...

What you're doing with hard goods is buying and selling. This is no different than buying a stock, say Walmart, on the stock market. You buy low, and sell high.

Tickets on the other hand are not like stocks, they are like OPTIONS. Options are much more difficult to master because they have EXPIRATION DATES and usually thinner markets. (Less buyers/sellers).

I like to think TRADING STOCKS like checkers. TRADING OPTIONS is like chess. The latter is far more complicated and risky where you can take a huge hit and wipe out a major % of capital. Due to expiration, w/options you have to be RIGHT within a specified time frame. Stocks, you just need to be right.

Just something to think about.

 

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[DeletedUser2]

Ryan,

Here is an Idea.
What your doing is getting closer to Pawnshops.

So take that angle.


instead of offering to buy it for x, you simple offer to loan them a small percentage of its value, and you hold it. (with a fee of course) they have x days to redeem it.

interesting thing, is alot of people dont redeem, and you have the item for well below market.

Only mention this cause I was an investor in a pawnshop years ago, interesting business model.

you might be surprised how well the "the virtual pawnshop" may work.

Disclaimer, CHECK WITH YOUR STATE, YOU MAY HAVE TO BE LICENSED OR BONDED to do it. but it may work for a couple higher ticket items where you don't have all the cash to layout.


I did this alot when I had apartments, Got 5 cars and welders ect that way for about 300 bucks. crazy.

as for some of the better Higher ticket items, Bobcats are one of the faster moving Items. and are always in demand. if you can trade in those, you may end up with some great profit margins.

 

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[GuestUser140]

(Posted this in your other thread as well, but this is the original Hustler's Guide)

Ryan,

I don't know you personally and we live tens of thousands of miles away from one another, but I felt I had to post this.

We're roughly the same age and I can relate to some of your thoughts.

It was your very thread, the Hustler's Guide to Buying and Selling Anything, that started it all for me. Six months ago I had a mountain of ambition and $1250 to my name. Today, I average a $10,000 monthly profit at around 20 hours of work a week. I won't even look up before I make $25,000 per month.

There's billions of people in this world and plenty of money to go around. $1,000 a month should be your target for August, you have done this before. Your year end's goal should be no less than 10,000 a month. Come on, you got this.

It's YOU who is gonna have to make it, no one else. Stop feeling depressed, acting cynic, avoid self-hatred or even empty joy. Emotions will make - or brake you. Get your act together and go after who you are really meant to be.

I'd be honoured to have your insight on how to scale hustling and divorce it from your time. Here's my story so far:

https://www.thefastlaneforum.com/yo...884-hustlers-guide-fastlane-michael-grey.html

 

[Vigilante]

A friend of a friend of mine transports coke he earns about 8000 euro's a month he is like 21 or sumthing but i would never do that.

 

[DeletedUser394]

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.

 

[DeletedUser394]

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?

 

[GuestUser140]

Hi guys,

Maybe some motivation. I started out with 4 phones from eBay a year and a half ago after reading this very thread.

https://www.thefastlaneforum.com/co...ou-might-want-to-read-this.55438/#post-403978

Hustle on.

 

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[Mike Kavanagh]

Ethical grey areas aside. I want to tell you guys a story about a real estate buyer

It's an old story. It's a bit unethical what this man did.

His name was Crassius. An ancient Roman entrepreneur and strict robber baron of his time.
The story goes on to show that when Crassius wanted a property, he'd set fire to it.
The people would come running out, with their most important belongs and family members.They were hopeless.
Everything they owned would be gone. Rome had no fire department or insurance in those days.
He'd then send his slaves up and offer to buy the now valueless property at pennies on the dollar.

I'm not saying you go set people's houses on fire. I'm saying that people have their own fires that they started.

They must sell because of rent. They are going away because of college. Divorce. Death.
These are the things you look for to be consistent.

They may not always tell you what the problem they are having is.
You can tell who a motivated seller is by their actions.
Keeping in constant contact with you. They initiate contact or say their haggle price first.
Words they are using.

Get out there and hustle.

 

[Vigilante]

Also with buying and selling property you would definitely have to pay tax wouldn't you?

Are you the same guy that keeps asking about paying or avoiding or evading taxes?

Listen. Pay your taxes. This is not some game. We're not interested in discussing how to not pay taxes. Stop asking people about how to not pay taxes.

If you have a business, and you generate a profit, and you live in the United States or Canada, you pay taxes. So, there is nobody on the forum that is going to talk about not paying taxes.

Pay your taxes.

 

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[adamhenry]

Aka: it's easier to make £50 on a £300 smartphone.

Yep, try to make 10-20% on whatever you're buying, and repeat rapidly.

If I try for 20% on an item, I can often flip within 24 hours. When I get greedy and try for more, that's when the item sits for days/weeks.

Plus you learn a lot more faster by rapid flips, than by sitting on one item for weeks.

It's hard to control myself to do so, but my rule is:

Relist immediately for 20% more. Flip, rinse, repeat.

 

[Excalibur]

what has everyone flipped this month?

I'm slacking. I did 2 flips this month.

A bagged Dodge Dakota. Picked it up at an auction for $1,416.
Asking $2,800. Settled at $2,200.

Heat shrink tunnel. Got at auction for $59.47. Flipped for $1,000.


Currently sitting on step van # 16 I think it is. Paid $615. Asking $2,500. Will probably get 2k.

Tried to get into a fleet of Toyota Yaris' earlier today, but they went for more than I was comfortable paying.

 

[DeletedUser394]

its hilarious how mad people get when you offer them a lower amount of money for whatever products they are selling, and they dont even give an offer back they just take it personal. Its hilarious in a way how attached people are emotionally to stupid shit

As a seller I get pissed off. Not because I'm attached to the items, but because there's no way I'm going to accept lowballs when I know the value of the product I'm selling.

If I offer something for 100 and someone offers me 30 (has happened before), I'm not coming down more than 10 and I know that the person is just going to go halfway. At that point it isn't even worth a counter.

As a buyer, that's what you have to do (lowball). People that have to sell ASAP will work with you on price, whilst people that don't need to sell (like me) will just laugh it off or get pissed off for having their time wasted.

Just part of the game.