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

[Joseph Bona]

Hey Ryan or anyone who can weigh in..
Craigslist has been very frustrating in that most of my ads get ghosted when putting up multiple different listings(show up active in the acct view but are not listed)

I've heard you need to vary your email, phone number, overall style and all.

Have you run into this, if so how do you combat it?

Thanks, Joe

 

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[DeletedUser394]

I only put up one ad.

Hopefully someone else knows.

 

[Joseph Bona]

I only put up one ad.

I mean one ad per item but multiple listings for say different consoles or games.
An ad for a game cube, an ad for a N64, and an ad for an iPod touch. Only the first one worked.
Craigslist seems to not like a lot of activity from one acct or email. Or maybe just doesnt like me lol.

 

[DeletedUser394]

I mean one ad per item but multiple listings for say different consoles or games.
An ad for a game cube, an ad for a N64, and an ad for an iPod touch. Only the first one worked.
Craigslist seems to not like a lot of activity from one acct or email. Or maybe just doesnt like me lol.

Ah, now I get it. I do that too on occasion with no problems.

I just title them differently and use varying descriptions.

Shouldn't be a problem if you're posting completely different systems in each ad, unless you're using the same copy for each one.

Another option is putting everything in one ad. It's guaranteed to get more hits (because there are so many keywords people can hit when searching for it.) They may also even buy another system as well if they know they can get it from the same person in one shot.

 

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[Joseph Bona]

Hmm interesting. I'll have to test out different techniques and see what works.

Thanks for the advice!

 

[WBoone]

a nice psychological weapon to use when negotiating is to have maybe two of your friends call on an item and lowball the hell out of them then you call not to long after and lowball them just not so bad. The seller will perceive your offer as better because they just received two low offers from your friends. You can also do this yourself if you have some tracfones or something as long as you have different phone numbers calling and use different names.

 

[DeletedUser394]

There's a near zero probability of me putting that into practice, but thanks for the suggestion.

I'd rather learn and perfect real negotiating skills.

This whole $0-$10K is more about the learning experience than the money.

When I do the $10K-$100K then it becomes more money skewed.

 

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[theBiz]

Craigslist has been very frustrating in that most of my ads get ghosted when putting up multiple different listings(show up active in the acct view but are not listed)

I've heard you need to vary your email, phone number, overall style and all.

Have you run into this, if so how do you combat it?

Thanks, Joe

I fought that for years, outsourced help non stop. They just change too rapidly and make it too stressful. Eventuall i gave up with it, and its a big reason why i went toward less stuff, higher profit margin. 1 item i can max out ads, but 20 small things just didnt make sense after a while considering ghosted ads.

make 3 phone verified accounts.

2 ads from one account from your computer
2 ads from the next account from your computer
2 more ads from your 3rd account on your smart phone (not through your router)

thats 6 ads per day, i honestly dont use that many when listing, 2-3 per day an item is more than enough, depending on your location and market it can vary obviously though. If there are 6 new items per day under video games, 1 listing per day could be too much. People will scroll down to the day before and see it, no reason to list everyday if unsaturated market, it pisses people off (gets you flagged), wastes your time, and makes you look desperate.

Now if there are thousands of ads per day which i compete in ill do one ad at lunch time, one at 5:30 (everyones home from work browsing) and 7:45. I get calls almost everytime i use that strategy but again, thats a super saturated market otherwise ill list once a day or every other day.


Compelling pictures are the most important thing. (whatever the competition is doing to show the product, display yours better, you would be surprised how many people are scared to buy or "i dont know anything about it" so half the battle is presenting your product with little risks and answering the phone with a positive, strong tonality, confident in yourself and your $10 used speaker, or $50,000 car, it makes no difference.



Its getting so competitive and everyone is doing such a good job with pictures that i am now getting into 360 degree pictures to display on craigslist. Always have to be a step ahead, thats the #1 key.

 

[DeletedUser2]

Hustling: Taking something and giving high value to someone else. The hustler takes the cut from between the true value and the perceived value of the item, service, or information.

Scamming: To sell something of promised high value for a low value, to which no value is to be had.

Politicking: Tricking people into what has value.

Noobing: complaining about any value someone else brings, as being to high priced.

 

[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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[Joseph Bona]

Hey all,

I have been buying and selling on CL for about a week now and have around $100 in profit so far.
I've noticed that small ticket items most of the time aren't worth the trouble of listing, pictures, meeting up, etc for profits less that $50. That being said, what have some of you found to be profitable items that go for $200+?

I've been using pulse.ebay.com to look for hot items with good demand and trying to get deals on those. Fast turnaround and high margins are the best thing. Just stirring the pot for some good discussion.

Thanks in advance.

 

[DeletedUser394]

Ipods, Ipads, Iphones, Macbooks, basically anything apple branded, watches, pocket bikes, bicycles, airsoft guns (the higher end models), and musical instruments.

Everything else escapes me at the moment

 

[Joseph Bona]

Ipods, Ipads, Iphones, Macbooks, basically anything apple branded, watches, pocket bikes, bicycles, airsoft guns (the higher end models), and musical instruments.

Yeah I've had some success with iPods. Apple products seem to have the highest demand...as far as computers (macbook) do you take any precautions i.e. ask for reciepts to make sure its not stolen or play around with it to make sure its working well? I see a couple deals for macbooks in my area but i keep thinking that these offers are probably too good to be true.

 

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[DeletedUser394]

No idea, I've never bought a macbook in my entire life. Many people on this forum and a few of my friends outside the forum have made good money on macbook deals.

 

[DeletedUser394]

Another thing that someone can do, is buy Xbox 360s with the red ring of death, fix them (usually easy fix) and resell for double or triple what you bought it for.

I'm only telling you this because I ain't doing it, but I have a friend that makes $300/week on the side doing just that. (2 or 3 360s per week).

 

[T&R]

2 more ads from your 3rd account on your smart phone (not through your router)

If the problem really lies with IP tracing (which I am not sure it does) use the tor network to hide your true IP address and you don't have to post with smartphone.

 

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[Denis]

Has anyone had any success selling laptops? I bought one recently for a good deal, will reply later if it sold.

Per your suggestion Ryan I've been using "What is the lowest price you would sell XYZ?" and its gone over well. You are now negotiating from the price they name rather than the one they list. Always have them name the price.

My father has success selling musical instruments as a hobby/side job. I imagine most people just want to get rid of the instrument after Johnny goes off to college, so you can find good deals.

 

[DeletedUser394]

Well, I just got out-hustled by a con.

It's 100% my own fault.

So I saw this Samurai Sword for sale, for $25. The guy says he paid $120 for it. I traded him 2 hockey tickets (worth $32) for this sword.

He told me this sob story about how he's disabled and blah blah (he was walking fine when he met me at the door).

I pick it up, and it's literally a piece of plastic from a kid's halloween costume. To top it off, the piece of crap isn't even straight, it's dented and crooked.

This has been a good reminder that I don't need to rush through deals, and I should evaluate every object (even something of little value) extremely close.

aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah.

I technically didn't lose any money (except a pair of tickets, which were part of a ticket package I purchased and will still make a profit on), so I'm taking this as a lesson.

I basically was caught off guard so much so that I wasn't thinking at the time. New lesson: Slowww down. When you're making a deal, take all the time you need to evaluate the item when you're face to face, and don't hesitate to back out of a deal when the terms/item wasn't as advertised.

I was expecting at the very least a stainless steel pos, instead I got a crooked plastic kid's toy pos. Lesson learned, and I managed to control my temper throughout the aftermath.

What's done is done. Luckily I didn't lose any money.

 

[DeletedUser394]

Even better news, I just got home to find an email that effectively means I've sold all of the tickets. Made a profit (minus that $32).

 

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[biophase]

Well, I just got out-hustled by a con.

It's 100% my own fault.

So I saw this Samurai Sword for sale, for $25. The guy says he paid $120 for it. I traded him 2 hockey tickets (worth $32) for this sword.

He told me this sob story about how he's disabled and blah blah (he was walking fine when he met me at the door).

I pick it up, and it's literally a piece of plastic from a kid's halloween costume. To top it off, the piece of crap isn't even straight, it's dented and crooked.

This has been a good reminder that I don't need to rush through deals, and I should evaluate every object (even something of little value) extremely close.

aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah.

I technically didn't lose any money (except a pair of tickets, which were part of a ticket package I purchased and will still make a profit on), so I'm taking this as a lesson.

I basically was caught off guard so much so that I wasn't thinking at the time. New lesson: Slowww down. When you're making a deal, take all the time you need to evaluate the item when you're face to face, and don't hesitate to back out of a deal when the terms/item wasn't as advertised.

I was expecting at the very least a stainless steel pos, instead I got a crooked plastic kid's toy pos. Lesson learned, and I managed to control my temper throughout the aftermath.

What's done is done. Luckily I didn't lose any money.

I don't get it. It was an in person trade but you didn't inspect it before you gave him the tickets?

Remember, no story is always better than any story. In fact, the longer the story is, the more you have to be careful. Most straight up people don't have stories.

 

[DeletedUser394]

I don't get it. It was an in person trade but you didn't inspect it before you gave him the tickets?

Remember, no story is always better than any story. In fact, the longer the story is, the more you have to be careful. Most straight up people don't have stories.

The back story: I'm selling tickets, so I searched under 'wanted' ads for people that are wanting tickets. I find one guy (the guy I got the sword from) essentially begging for free tickets because he's disabled and has no money, etc. I searched his other ads, and saw the sword for sale. He even took pictures of it in such away that it looked metallic.. so I assume it was steel.

No way I was giving them for free, so I proposed a trade, 1 pair of tickets, for the sword.



Essentially (and honestly) I didn't inspect the item, when I realized I had been played I was shocked and couldn't think for about a minute.

Most of my deals take 30 seconds and I vanish from whence I came. For example I sold a nice watch earlier today, and the guy drove up, and drove away a minute later.

I need to slow it down (when I'm the one buying).

I went to his house (only a few blocks from mine). I'd go back, or at the very least should have gone back at the time, but as I said I wasn't thinking clearly, and my mistakes compounded each other. It's not worth going back for what amounts to no loss.

I made a mistake, but now I have a valuable lesson from it

 

[JayKim]

Found a car to flip for anyone in Colorado. KBB says its $4263 Kelley Blue Book


98 Honda Accord - Great Shape - $2200 (Austin Bluffs)

Date: 2012-01-09, 7:37PM MST
Reply to: sale-m2xss-2792070336@craigslist.org [Errors when replying to ads?]

Black 1998 Honda Accord - Manual - 4 cylinder.

Only 103,000 miles. Your not going to find a better deal on an accord but have to move and need to sell fast.

Brand new tires, new brakes, new struts, all new hoses and belts including timing belt. New battery and windshield.

Sunroof, power windows and locks. Everything mechanical works. All lights work.

CD Player and MP3. Leather seats in perfect condition.

First with cash gets it. Call to request pictures and if you need any more info.

Thanks for looking. 719-XXX-XXXX

Location: Austin Bluffs
it's NOT ok to contact this poster with services or other commercial interests
PostingID: 2792070336

 

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[Ivan]

I've been doing a little reselling on the side for a little over a year. It's mostly a hobby at the moment and my main source of income is still my job. I've learned a TON though. A few things:

Never buy on emotions.
Be able to walk away from any deal and don't feel bad for wasting a person's time. Better to waste $5 in gas than have hundreds/thousands of dollars tied up in a losing investment.

Research is key.
Really get to know the market before you buy. I bought a bike for $700 that I thought I could resell for $1000. I didn't do my homework and barely broke even after a few months.

Risk is in the eye of the beholder.
I never understood Robert Kiyosaki when he wrote "Investing is not risky if you know what you're doing" until I started the reselling game. If I know a pair of shoes sells easily for $70, and I see them listed for $15, I have no problem making that investment. I try to get that concept across to others, but they just don't get it.

Keep the money moving.
In my opinion, quick turnover beats waiting for a higher price (within reason). Sell, make a quick profit, and pump the money back in. It works like compound interest. I'd rather make 30% three times in a week rather than wait to make 60% once from the same investment in the same time frame. In the first scenario, $100 becomes $220. In the second you only get $160. As long as you don't have a lot of overhead (gas cost, travel time) multiple quick sales usually multiply money faster.

Keep inventory moving.
Sometimes it's better to break even or even lose a little on a bad investment in order to free up the money. I've found that this is a better strategy than sitting on a bad item, stubbornly waiting for a minimal profit. I've missed out on a few killer deals because my cash was tied up in inventory.

Let the seller lower the price.
I've had several instances when I've asked a person "What's the lowest you're willing to go on the price?" and they lowered it past what I was going to offer.

Keep demographics in mind.
Keep in mind the kind of people you'll have to deal with. I know a few people who have been threatened and robbed while trying to sell an iPhone. That's why I stay out of that market. Higher profit margins are not worth getting shot (to me, at least). Video games were pretty profitable for me, but I found that I was making too many trips to the 'hood for my liking. I mostly do high end mountain bikes now. The kind of people who are into mtb are far more pleasant to deal with.

Understand supply and demand.
Buy at times when supply is high and demand is low. Sell when demand is high and supply is low. For example, I can usually sell a low-end bike very quickly in September. I have 2 state universities and 6 community colleges in my city. Lots of students need bikes. A great time to buy bikes is at the end of spring, when a lot of students are graduating or ending school. The day after Christmas is also a great time to buy since people are getting rid of unwanted presents. A friend of mine picked up an iPad 2 still in packaging for $380 this year on Dec 26th.

This concept also applies geographically. There might be a deficit in one city but an abundance in another. Bringing equilibrium to that system can make you some easy money. For example, old diesel Mercedes sell pretty well in my city because there aren't many of them. You can get them dirt cheap if you're willing to drive for a bit. I picked one up in San Jose for $550 and sold it in Sacramento for $900 recently.



There's more, but I figure this post is already getting pretty long. Hope this helps someone.

 

[DeletedUser394]

Up another $500 and just squeaked past the $4,000 mark.

Now, as a general rule, I'm not going to buy anything less than $100.

Inventory: $2,884
Cash: $1,140

Total: $4,024

 

[Shades]

Ryan do you always meet people at their homes or have them meet you where you live? That's a horrible idea.

 

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[DeletedUser394]

Ryan do you always meet people at their homes or have them meet you where you live? That's a horrible idea.

What's a horrible idea?

I meet people wherever I want to meet people. Usually at the train station near my home.

 

[mapaul04]

Has anyone had any success selling laptops? I bought one recently for a good deal, will reply later if it sold.

Per your suggestion Ryan I've been using "What is the lowest price you would sell XYZ?" and its gone over well. You are now negotiating from the price they name rather than the one they list. Always have them name the price.

My father has success selling musical instruments as a hobby/side job. I imagine most people just want to get rid of the instrument after Johnny goes off to college, so you can find good deals.

I have bought a couple of laptops but I dont think they are worth the trouble most of the time. Like mentioned before apple products sell very well so if its a macbook or macbook pro you will sell it easy. But if its a random dell or lenovo or something I feel like those are harder to sell. In my area people arent looking to buy a lenovo laptop from craigslist unless its uber cheap. If you can get a very good price and put it on amazon that would probably be your best bet.

 

[Denis]

Up another $500 and just squeaked past the $4,000 mark.

Now, as a general rule, I'm not going to buy anything less than $100.

Inventory: $2,884
Cash: $1,140

Total: $4,024

Ryan,

Awesome to see how much progress you have made in such a short time. If you have the time and inclination I think it would be cool to have a "What led to my success and what I have learned" post on your progress so far.

 

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[MJ DeMarco]

I made a mistake, but now I have a valuable lesson from it

Process. Failures. Mistakes = Growth + Wisdom = Success.

 

[Denis]

Process. Failures. Mistakes = Growth + Wisdom = Success.

I agree. I am reading through your book now MJ and a lot of your ideas make sense to me.

About a year ago, I decided to approach life with a "When you fail, learn from it and move on" mentality and it has served me really well (and stopped the self-pity I see in a lot of my friends). I was glad to see this mentality reflected in your book.