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

[mavwrx]

here's a good suggestion, guaranteed money maker. - buy mass effect 3 collector's edition for xbox 360. it's going for $80 right now, but I think the value will double. xbox 360 versions of the CE are going quick. sold out already on amazon, ps3 is still in stock, but i think 360 version willb e worth more. demand is much greater on 360.

 

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[DeletedUser394]

Well, now the shoes are 'worth' over $5,000. (retail prices direct from the source rose by 25% for whatever reason).

Doesn't mean much if I can't sell them, but now I can offer 'free shipping' + a reduced fee on the shoes and still make more.

Trying a new strategy that has generated some interest, both to purchase individually and to purchase the whole lot, but nothing concrete yet.

 

[BusinessStories]

Hustling is one of the best jobs ever.

Wake up at 10 A.M. drink coffee and scan deals, make money.

You have to be really good at one thing though, find a niche and exploit it, otherwise you'll get overwhelmed trying to do everything.

 

[Joehenny]

Just got harassed by some dude desperate for money. He wants 250 for a phone that I doubt I could even sell for that much.

 

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[DeletedUser394]

Back in the game. Picked these up this afternoon.

 

[Joehenny]

Are those ipod touches or phones? If they're phones be careful check the esn number to make sure their not stolen or you'll get fvcked.

 

[oddball]

Are those ipod touches or phones? If they're phones be careful check the esn number to make sure their not stolen or you'll get fvcked.

Ipod touches, looks like 2 1st gen and a 2nd or newer.
The ESN problems is why I usually stick with ATT phones. I had one verizon phone come up as clean on the ESN check but there was a problem. Took a long time to get the previous owner to take care of it.

 

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[DeletedUser394]

Ipod touches, looks like 2 1st gen and a 2nd or newer.

A boss always knows his product!

 

[Joehenny]

yea that esn stuff is a pain in the a$$

 

[911Carrera]

So here it is. Not even sure where I’m going with this, but here we go. The fact that I made any money at all was thanks in large part to dumb luck.

It was dumb luck that I happened to decide one day in early december to sell some video games. It was dumb luck that I used that money to buy some undervalued game bundles from other people to resell. It was dumb luck that this all happened in the rush before and up to Christmas, when I was making on average 2 deals a day.

My first mistake was not keeping track of the flow of money. I really have no idea how much I spent and how much return on investment it yielded. I have no idea where some of the money is and/or went.

If I’m to push ahead with this, I’m instituting some kind of accounting structure to keep track of the money.

Also, because I didn’t have a job during these past few months, a lot of that money generated needed to be used to sustain some living expenses.

I have no idea if I made $1k or $10k during that time.

Second mistake was purchasing inventory just because it was cheap and plentiful. I now have 130 pairs of shoes, of which I’ve been able to sell none thus far.

If I would do it over, it would be in something that I know there is always a market for and that I’ve had success with in the past. Also the dollar amount/item needs to be higher. (I purchased at $5/pair and retail is only $30/pair).

Fourth mistake was being lazy. Not posting in days, not having a strategy, not keeping track of the money, not actively searching deals. This has plagued me this past month.

Most of the ‘success’ I’ve had thus far was largely a consequence of dumb luck and doing the right things at the right time. Luck runs out.

It’s the same stupid cycle with me all the time.

And want to know why I really started this thread? It was simply to generate speed and likes (which is partially also why I’m writing this to be honest). Why? Because it’s easier to build fake accomplishments and accolades in pretend worlds than in the real world. My real life is so anti climatic that by building these stupid profiles online (facebook would be an example.. at one point had over 1500+ ‘friends’. Fact is I probably have 5 good friends) somehow fill that void. This forum is another example. Why do I post? Not to help people, but to build that ultimately worthless ‘speed scale’ and collect ‘thanks’. My ‘thanks’ shot up 250+ as a result of this thread (pathetic how I keep track eh?)

So here’s the update. I have just under $4,000 worth of brand new shoes that I’ve yet to be able to sell even one pair of, I have effectively zero working capital, but at least I have a job, so if I manage to hold this job and not quit like an idiot, then I’ll have some capital.

You know, I’ve been trying so hard to pretend to be some big shot. Trying to be someone I’m not. Fact is, I’m just some kid (who was previously jobless), living with family.

So there, the secrets out. I collect insignificant accolades on the internet in order to somehow fill the void of my mostly insignificant life.

No, I’m not seeking sympathy. Yes I will push forward, yes I will make it to the $10k original goal eventually, but this thread and every other thread was created with the sole intention of generating what I said above.

I think it would be healthier if I actually stopped posting, and actually started hustling.

Because at a fundamental level, why am I posting my progress (and regression)? All it’s doing is creating more competitors.. and for what, so I can collect a few more ‘likes’? I'd rather take dollars over 'thanks' any day.

Real success is more important to me, so I guess I need to start acting like it.

I spend more time updating this thread and browsing the forum and other websites (like facebook) incessantly than actually doing anything. I spend a good long while thinking up the next facebook status update to see how many 'likes' I can generate. It's all crap.

No longer posting in this thread. If and when I reach the goal, I'll let you know. Otherwise, that's it for me here because this (my actions and inactions) are getting to be ridiculous.

Please don't like this post.. it would play right into why I'm posting it in the first place.

I never posted in this thread but scanned it a few times over the past month.

I like this post because you're honest and there is nothing better than honesty. A lot of guys on here are just like you describe but will never admit it. They will justify that behavior somehow and tell you you're just having a bad day and that it is healthy. Building profiles online that give a false sense of accomplishment is self-destructive. It will hinder your progress because it allows you to fake being who you'd like to be so you don't have to work hard and be that person in real life.

Having an ego is necessary for your success if you use it correctly. Using your ego to succeed and gain true respect in the offline world is great and it is the reason why the western world is so great. But wasting time on the internet to gain faceless friends and rep points will only give you this fake sense of accomplishment and before you know it, your offline world will be a mess and you won't have any real friends when you're in need.

It's good to share knowledgeable tips on here and help each other. When I saw your thread, I thought it was a little odd because you're not an expert at this thing yet. It would great if you made this thread a year from now after being a successful hustler. As you can see from my posts here, I'm genuine and even brutally honest at times. Don't mistake that for meanness.

Put the shoes on ebay and be ready to make less profits on them then you intended but at least you will get rid of them slowly..

 

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[InMotion]

Ryan do you live in a city or a rural area? Wondering where you live?

 

[jbuckingham]

Oh and here are the shoes that led to my meltdown lol;

View attachment 2843

Back to the hustle.. haven't really got another option. What other option is there other than success? I can't think of one, so looks like success is the only option.

Also, thanks for the support.

Donate that stuff or take it to your local street auction. Sell it to a vendor or sell it directly...You'll get ahead once you get your head back in the game.

 

[InMotion]

Sell it to a vendor or sell it directly

This..

Ryan think for a minute, try this mindset, you are now a big retailer, what does a retailer do when they have product they cant move at full price in their stores? A few options exist.

 

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[rexxkai]

I suggest you apply for a credit card for this purpose. If you can flip the goods at a profit in a month you don't have to pay any interest. I honestly think this is about one of the best ways to use credit card. Eventually if you use it a lot you will get a big limit. Then you can buy more expensive things to flip at a profit. Shit if you got really good at doing it in under 30 days you could get an AMEX and flip undervalued cars, boats, tractors, industrial shit. I guess the trick would be to advertise it at your price before you even acquire it.

hey kak,

could you explain on this a bit more?? because the desperate sellers on craigslist are in need of cash quick, so how do i pay them with credit card? and how would that work, since there is no place to stick my credit card into (debit/credit machine) for them to take the cash??

thanks

 

[howardmarks]

Its a pity this thread has died.
Its the thing that lead me to this site and was fairly interesting

 

[Leary]

I've investigated doing a similar thing to this thread with AliExpress. Most things have free shipping and are very cheap compared to market prices. Looking into USB sticks at the moment (found someone willing to provide 8gb at $4.73 each in bulk), I can double my investment assuming they move (my workplace is desperate for usb sticks and will pay $10 per). Hoping to move ~100 in the first month to test the market purely in the workplace, then scaling up to ~1000 per month in local business supply (if the market remains favourable). That should fund a few online ventures I'm researching. 12 month plan is to profit $10k per month.

 

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[mavwrx]

bought mass effect 3 ce for 83.99, flipped on ebay for 149.99. already sold 3. I have about 15 more on the way. some on ebay are going for $169.99 but i just want the quick sale.

selling dlc armor code separately on ebay for $40, no sales yet but 30-50 is average selling price. looking to clear about 70-80 profit on each after fees.

 

[Joehenny]

how did you find them for that price??

 

[Joehenny]

Going to start back at this again got side-tracked by my car and school. Going to go at it with new found hunger. Goal 1k profit for the first month. Specializing in used/broken smart phones, laptops, and tickets and gift cards.

 

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[mavwrx]

bought mass effect 3 ce for 83.99, flipped on ebay for 149.99. already sold 3. I have about 15 more on the way. some on ebay are going for $169.99 but i just want the quick sale.

selling dlc armor code separately on ebay for $40, no sales yet but 30-50 is average selling price. looking to clear about 70-80 profit on each after fees.

preordered them from different places.

 

[Joehenny]

ooooh so you did that before the game came out

 

[SPX]

I made a easy $100 bucks this weekend selling concert tickets. Our school has concerts every year and students get free tickets. So, I asked my friends that were not going and posted on craigslist at a reasonable price and sold 3 tickets without any expenses for me!!

Also, look out for big raves they are hugely popular right now and they get sold out really fast. I think each person can only buy certain amount tickets for each address. So, Beyond wonderland had pre-sale tickets for $50-$75 i think and after the event is sold out. Each ticket can be sold at $150 easy. There is a very high demand these days for raves.

 

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[Stu_Hefner]

I just read this entire thread (yes, all 21 pages).

Congratulations Ryan, you have made good progress. You are on your way, wish you all the best.

 

[mavwrx]

i've managed to buy up about 85 of these. they're sitting in my closet right now. i'm going to give it a month for the market to come backup and flip them then.

 

[DeletedUser394]

Ultimately stopping this hustle. Pros vs cons just don't align like they should. Selling the inventory I have, and moving forward to bigger things. Building cash reserves and enjoying life.

On to the next one, good luck to all the aspiring hustlers out there..

 

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[Denis]

What were the pros and cons if you don't mind my asking? Time? Effort? Stress? It would be appreciated to hear your thoughts on getting income from this after you've tried it.

 

[DeletedUser394]

Just what comes to mind quickly;

Pros: You can make more money in a few hours than most make in a day. (My best day inventory wise was +~$3,000, while my best cash profit day was probably around ~$750)
You learn how to sell.
You learn how to communicate with people.
You learn how to negotiate

Cons: Limited scalability
You have to deal with people's crap. (lies, trying to sell you broken items, people's word means nothing, etc)
People can't seem to read and understand simple ads/instructions.
Paypal scammers email/texting you incessantly. 'F*** you' being my standard and immediate response to anyone sending me messages with area codes outside of my area.
Travel time. I live in a city of 1M+ people... takes a while to travel to pick up things.
Lots of people you need to compete with (limited barrier to entry), anybody with anything of any value can get started...

Ultimately there are better opportunities out there, with near unlimited scalability which I plan to exploit. I still have around $6k worth of product to move while looking into a few other things I want to try out.

Did I enjoy it though? Yes, it was a learning experience, and I felt/feel like a bad a$$ when making things happen and putting together multiple deals at the same time, etc.

 

[oddball]

I'd also ad networking to the pros. Today I sold something and from talking to the guy for 5 minutes he told me of 2 people to contact in regards to my new job in commercial real estate.

 

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[Gary M]

Original post deleted...

Can you please tell me what the name of this book is? Thank you.

 

[Gary M]

Can you please tell me what the name of this boom is? Thank you.