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

[roc]

This is so true man I'm not selling anything on CL yet, but I have a rental property and the same thing happens all the time people love the place and when it comes time to sign a lease they all the sudden disappear. I took care of this problem by asking for a holding fee. This usually gets rid of the slacker, maybe you can implement this someway. Roc

It ain't all rosy being a hustler.

Every day, and in dealing with more and more people (approaching 75th deal) I see what people are about.

It's amazing how one's word counts for almost nothing. I'm somewhat disappointed as these past few days some of my biggest deals to date have fallen through.

Everything is great until the day comes, and people disappear completely. Not even having the decency to take 10 seconds to let me know that they've changed their mind. It's a great vanishing act.

When you get a tentative deal DO NOT REMOVE YOUR LISTING UNTIL MONEY AND PRODUCT HAVE EXCHANGED HANDS... saves you some time when these people go mia.

Most people are crap (can't think of a better word haha).

Lost count of how many times I've gotten 'Yeah bro, I'll call you tomorrow to pick up'. No you won't. And then I get the truly amazing people that show up exactly when they say 'I'll be there at 7pm'... and lo and behold at 7pm, there they are. Love those people.

Want an easy way to get ahead of the game/in life? Make your word your bond. When you say you're going to do something, it should be as good as done.

Too many flaky people running around out there.

 

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[DeletedUser394]

I have a question. Once we graduate from small deals =<$500, is cars the next logical product? There are a lot of cars out there, im just not sure how to determine how much I should offer for a car that will allow me to flip it in 1-2 weeks or less. I bought a honda civic several weeks ago that I was SURE that I could double my money on. Barely scraped my way out of that one with $50 in the positive. Any thoughts on this from anyone?

Depending on where you live, there is usually a cap (3-5) on how many cars you can sell in a calendar year without a dealers license. There are ways around this (register cars in friends/family names) but you could get in trouble if you don't.

As for $500+ there are many things you can buy. Cars, trucks, motorcycles, scooters, bobcats (the machine, not the animal lmao), high end bicycles, guns (real/airsoft), pocket bikes, Atvs, sea-do's, snowmobiles, Camera's, vintage musical instruments, etc.

 

[DeletedUser394]

Another tip.

When buying, never say or make reference in anyway that you absolutely WANT/NEED something. I get an email from a woman who wants a specific game for her son the week before christmas, and she's says she can't find it, (I'm the only one that has it), so the game price went from $25 to $50 instantly, and she took it.

When selling, never say or make reference in anyway to the fact that you want/have to move a product (sell it). Mentioned it only once and the guy instantly lowered his offer 30%.. I didn't take it because I didn't absolutely need to sell (wanted to sell though!), but had I needed to I would have shot myself in the foot when taking that offer.

 

[roc]

Email list or text list

Hey Ryan (or anyone else selling a lot of items) have you thought about getting emails or cell# from the people that you sell items to? With the buyers info you can send out a "blast" with whatever items your trying to sell, plus if your an Ebay or amazon seller it would beneficial to try to get repeat business of these sites and onto your own site to avoid the listing fees. Best of luck, Roc.

 

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[Gary M]

Yea I agree with this.

Ryan - Im a bit confused as to what your goal is. Is it $10,000 in inventory or $10,000 in cash? By your update posts it seems like your trying for 10K in inventory, as it looks like you have very little cash in hand and a ton of inventory.

I was thinking the same thing but didn't want to say anything because you are doing so well.

 

[Gary M]

I imagine you guys have read through the threads on lambopower about CL flipping?

Would love to see that lambopower thread if possible.

 

[DeletedUser394]

I imagine you guys have read through the threads on lambopower about CL flipping?

Would love to see that lambopower thread if possible.

Follow the link: https://www.thefastlaneforum.com/bu...at-bootstrapping-thread-how-create-money.html

 

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[DeletedUser394]

I LOVE CHRISTMAS!!! Well, actually I despise the excessive consumerism and buying things that people can't afford, in order to give them to people that probably aren't going to use/nor want the items anyway.

But I digress..

The reason I love Christmas is that I just checked my inbox and I've got 32 deals to put together!!!

I won't have a life for the next week, but it'll be worth it when I'm sitting on that pile of cash.

Need to find 6 consoles (that I don't have at present) just to fill the current backlog.

CHALLENGE ACCEPTED!

 

[DeletedUser394]

I'm starting to see how important holidays are for retailers. $360 in pure profit today for about an hour of work (walked over to the mall, met with 4 people at the same time in different stores).

I enjoy the logistics of putting everything together (the deals, when to meet, etc).

The greatest thing about holiday crunch time, is that even when people cancel on me now, I don't even care, because there are 3 other people waiting in line (I've got a backlog LOL) to buy for every person that cancels. One guy canceled on me today, I sold it to someone else 5 minutes later.

Have to figure out a way to fill 8 more orders (I need things that I don't even have in inventory right now..got to find them).

Anyway, single biggest profit day (conversion to cash, not inventory) since I started.

 

[theBiz]

I have a question. Once we graduate from small deals =<$500, is cars the next logical product? There are a lot of cars out there, im just not sure how to determine how much I should offer for a car that will allow me to flip it in 1-2 weeks or less. I bought a honda civic several weeks ago that I was SURE that I could double my money on. Barely scraped my way out of that one with $50 in the positive. Any thoughts on this from anyone?

your not working hard enough.... do more research.... when you buy a car you should have 20 solid hours of research in spread across a 2-3 week time frame(good deals pop up here and there) then you will KNOW what the best deal is on the car/truck.

Then you will find a deal SO good where it will be almost an impossibility to buy it for that price. When ever i drive away with a car or truck i smile to myself because i KNOW for a fact no one is buying what i bought for that price..

can i sell it for more, thats a completely different story, but i promise when i buy something 99% of people are paying more.


So.. once again, research, research, research. And get the whole "sell 1 thing a day or week" if you sold a car and made 4-6k profit would you need to sell one everyday? Would the research process be more intense than a cell phone? of coarse.

forget about kelly blue book etc. BE PROACTIVE, call peope selling stuff, see if its sold, if so "hey im trying to get a good deal i dont know much about civics, do you mind telling me what you sold it for? You need to do your research and start making some phone calls, if you do enough of it, its just simple past that point.

 

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[DeletedUser394]

Biz,

How do you get around the maximum number of cars that you can sell in a year without being considered a dealer? Unless your state doesn't have a rule.

 

[johnny84]

This is a helpful tool if you know what you're after.

SearchTempest - The EASY way to search Craigslist

 

[DeletedUser394]

Hey Ryan (or anyone else selling a lot of items) have you thought about getting emails or cell# from the people that you sell items to? With the buyers info you can send out a "blast" with whatever items your trying to sell, plus if your an Ebay or amazon seller it would beneficial to try to get repeat business of these sites and onto your own site to avoid the listing fees. Best of luck, Roc.

Never thought of that. Might look into it, thanks.

 

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[JayKim]

Do you guys also check out the jewelry? keep a look out for gold rings but stay away from anything plated.

I was late in picking these up but I could have flipped the gold ones.

4 new rings

4 new rings (cs)

Date: 2011-12-12, 12:04PM MST
Reply to: sale-krzwt-2749413668@craigslist.org [Errors when replying to ads?]

Austrailian Opal with Tanzinite gem size 7 $30

Lovely gold plated ring with black stones size 8 $ 15

14K gold ring with several stones size 7 $30

Large gold plated luxorious ring with large stone size 7 $ 20

Buy all 4 for $80

Location: cs
it's NOT ok to contact this poster with services or other commercial interests


PostingID: 2749413668

Earrings and ring I sold on ebay I bartered for, made 180 after the ebay fees.

eBay - New & used electronics, cars, apparel, collectibles, sporting goods & more at low prices

 

[wakana]

Just finished reading this thread. Omg, ryandrake, u r so impressive! I never looked at cl this way! Damn, with all the things I donated to goodwill, I could have had a lesson in selling.

 

[biggeemac]

Wow....you know its gettin bad(good) when you start hustlin your own family. My mom wanted to get a high def digital cam corder for my step dad. So I told her i would get a great deal on one. Found one....with an extra battery and sim card for 275($400 camera). Told my mom I would buy it and give it to them for Christmas if she gave me that Dell netbook she wasnt using to give to my son for Christmas, which is what he is wanting....lol, i love doing business.

 

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[Autonomust]

Do you guys also check out the jewelry? keep a look out for gold rings but stay away from anything plated.

I was late in picking these up but I could have flipped the gold ones.

4 new rings

4 new rings (cs)

Date: 2011-12-12, 12:04PM MST
Reply to: sale-krzwt-2749413668@craigslist.org [Errors when replying to ads?]

Austrailian Opal with Tanzinite gem size 7 $30

Lovely gold plated ring with black stones size 8 $ 15

14K gold ring with several stones size 7 $30

Large gold plated luxorious ring with large stone size 7 $ 20

Buy all 4 for $80

Location: cs
it's NOT ok to contact this poster with services or other commercial interests


PostingID: 2749413668

Earrings and ring I sold on ebay I bartered for, made 180 after the ebay fees.

eBay - New & used electronics, cars, apparel, collectibles, sporting goods & more at low prices

I've been thinking about taking a look at jewelry soon. Do you have any other thips that may help me out?

 

[Rickson9]

It's rare to have such a long thread where every page has one gem or another. This should be a sticky.

 

[wakana]

Nice, biggeemac! lol Creativity right there! It's not so much the money I get selling stuff but the perspective ryan gave me. A true fastlaner rises from any circumstances given. Excitement!

 

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[theBiz]

Hey Ryan (or anyone else selling a lot of items) have you thought about getting emails or cell# from the people that you sell items to? With the buyers info you can send out a "blast" with whatever items your trying to sell, plus if your an Ebay or amazon seller it would beneficial to try to get repeat business of these sites and onto your own site to avoid the listing fees. Best of luck, Roc.

I tried this over and over again in different industries, usually a few hundred leads from whatever i was selling (locally targeted, 15 mile radius max) and people would get pissed. Your not telling them your buying and selling first off so then the second time you email they are like what the hell. Plus unless its b2b it usually never works. Consumer purchases are done once and a while for most products and they are spontaneous. Actually even when i was sending out emails for to someone who bought a truck for their businesses a few months earlier, they didnt like it either and realized i was buying/selling.

KEY NOTE: Under the radar is where you want to be.

 

[oddball]

I tried this over and over again in different industries, usually a few hundred leads from whatever i was selling (locally targeted, 15 mile radius max) and people would get pissed. Your not telling them your buying and selling first off so then the second time you email they are like what the hell. Plus unless its b2b it usually never works. Consumer purchases are done once and a while for most products and they are spontaneous. Actually even when i was sending out emails for to someone who bought a truck for their businesses a few months earlier, they didnt like it either and realized i was buying/selling.

KEY NOTE: Under the radar is where you want to be.

Reminds me of a question I was gonna ask here. I was always curious as to what others did when people ask the famous question of "why are you selling it?" I have never said that I buy and sell because I figured it would scare the customers away. Usually I make things up, with phones I will say I switched carriers or upgraded. Ipods I'd say I got the iphone now so don't need it. Just whatever I could to make them feel more at ease with buying. One of the great universal answers is, I'm a college money and as much as I would love to keep it, I need the money. I have had a few customers actually tell me to keep their numbers encase I got more items, they would buy. They say that then but its always a different story later.

 

[DeletedUser394]

Reminds me of a question I was gonna ask here. I was always curious as to what others did when people ask the famous question of "why are you selling it?" I have never said that I buy and sell because I figured it would scare the customers away. Usually I make things up, with phones I will say I switched carriers or upgraded. Ipods I'd say I got the iphone now so don't need it. Just whatever I could to make them feel more at ease with buying. One of the great universal answers is, I'm a college money and as much as I would love to keep it, I need the money. I have had a few customers actually tell me to keep their numbers encase I got more items, they would buy. They say that then but its always a different story later.

Been asked that question a dozen if not two dozen times.

My answer: 'I buy and sell things on craigslist.'

Never has it been an issue. Most of the time people are either intrigued, supportive, or indifferent. Never has anyone not gone through with a deal because of it. I have no reason to lie, and in my experience thus far, people appreciate honesty.

If anything, it establishes me as an 'expert' of sorts. For example when people try to haggle with me I tell them I buy and sell ____ item all the time.. at which point they stop haggling and come up to my price (which was fair market value to begin with).

 

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[Denis]

I bought a N64 bundle for a solid price.

I put up a listing selling the most popular games at Amazon prices. Nothing but lowballers so far.

Listing: Nintendo 64 Games

Is there something I need to do to get more buyers or am I just in the wrong area for video games?

Ryan, since you have had a lot of success with this type of product, any tips?

 

[DeletedUser394]

I sold 3 Super Mario 64 games yesterday for $25 each.

Here's how I'd price these games (I have them/or had them at some point)

Starfox 64 - $10
Mario Kart 64 - $25 See: mario kart 64
Mortal Kombat Trilogy - $15
Super Mario 64 - $25
Goldeneye 007 - $15
Donkey Kong 64 - $15 (Has some sticker markings)

The ad's only been up for a day? Sometimes it take 4-5 days before I even get an offer on something. (the only reason I'm constantly making deals is because I have so many things for sale). I had some brand new boxing gloves for sale since December 2nd, and got my first offer just now as I was typing this.

Could be the area too.

If You have more games, put them all in one picture. Make it more exciting.

For example this is only 1 of 8 pictures that I have on one ad alone;



Woah, don't know why that pic is blurry, but it's fine on the ad haha.

 

[DeletedUser394]

Taking a break from the forum for a week or two.

Need to take inventory and assess my next move.

I'll update my progress when I'm back.

 

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[Denis]

Gotcha.

Yes, its only been up for a day. I got the wrong impression from your posts about selling something every day. Makes more sense now. I will wait a few more days and see if I can get more offers. I would like some assurance that there is interest before I start gathering inventory.

Thanks for the help.

 

[kurtyordy]

I know this was mentioned earlier, but do not forget the clearance items at stores. yesterday while at lowes getting my Christmas tree I saw $99 garden wheelbarrows on clearance for $13. I bought the last 3 they had. Now if I were inclined to engage in Ryan's type biz I would easily be able to flip these for $50+ each come spring. (I plan to use these, so no flipping here)

 

[DeletedUser394]

Haha, only took me one day to take full inventory (not 1-2 weeks like I thought).

Passed the $3,000 mark

Inventory: $2,467
Cash: $535

Total: $3,002

Here's the breakdown:

Video games/consoles: 36%
Cash: 18%
Musical Instruments: 10%
Sports Equipment: 8%
Bicycles: 8%
Electronics: 7%
Multimedia: 7%
Sports Memorabilia: 2%
Watches: 2%
Tools: 1%
Misc: 1%

 

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[DeletedUser394]

One of the more important lessons: Don't get caught up in your own success.

Had so much cash (at least for me) that I assumed there was an endless supply. There was one day alone last week where I made over $1,250 in profit in one day.

I blew through most of the cash. Bought tickets to both finals tournament games and a whole bunch of other extra games that I had no business buying.

I got caught up in the moment, and now that I'm sitting here surrounded by tickets I couldn't really afford to begin with (the Bronze/Gold game alone = $1,500) I'm feeling quite low.

I let short term pleasure override long term benefit. And I see that the people around me live like that (and have subsequently declared bankruptcy multiple times, etc). I should have known better than to do what I did, but the important thing is that now I see the error in what I was doing.

If you have even a little doubt when buying a non-essential (can't think of the word) product, odds are you can't afford it right now, or shouldn't buy it. (at least for me).

Pissed off a lot of people in the process.

Stopped listing products. started waking up at weird hours because I was out all night at games. Was still selling stuff even as I went crazy/got caught up in the moment.

I'm going to bounce back from this stronger than ever, and it's a good lesson to learn now, rather than much later in the future.

I can sell most of the extra tickets and recoup probably 75% of my money. At worst I would recoup 50% (because I'd sell 1 ticket and go to the other).

It is a once (or twice) in a lifetime event, but the more I think about it, it's not worth the extra time it would take to rebuild my capital.

I'm still going to a few more games (the one's I got for free buy selling pairs of tickets.. see other thread), but the bronze and gold and the quarters and semis I will watch on tv, and work hard to build my future, because that's far more important.

-Ryan

 

[Runum]

Don't be too hard on yourself Ryan. Live and learn. You are more awake and learning more now than I have seen you do since I have known you. Rock on!