The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

EXECUTION Local Flipping from from 400€ to ∞ [Personal progress thread ]

SuKiauruDangciu

New Contributor
May 31, 2019
8
12
13
France
Hey Fastlaners,

Okey. So straight to the point what this is all about.
This is my personal accountability thread.

I always have some crazy business ideas (for some reason most of them turn out to be illegal) but more often then not I don't have the funds ( at least that's what I keep telling my self ) and skip on them just to get lost in the flow of passing time.
A week ago I decided to remove this excuse to incantation by earning the capital over time without trying to win the jackpot.
I decided to treat it the same way I treat my work- systemically.

If anyone is wondering I skip all ideas that turn out to be illegal :)

Current situation:
  • Working 9 to 6 (software developer)
  • Age 23
  • Living in France (don't speak french)
  • Possibility convicted criminal (naivety of believing court system and using public attorney)
  • Current savings 400 euros
  • Starting capital 400 euros
  • No notable liquid assets
Ps: I also don't own a car, motorcycle or other transportation vehicle .

For time being this thread will exist mostly as my local item flipping log. Might add other information if I see it as relevant.

Item of choice for time being- Monitors
Reasoning:

  • Commonly used (gets updated by gamers every year or so)
  • Rare to be damaged because normally very stationary
  • Don't require in depth knowledge unlike photography or custom computers
  • Not mainstream so little to none competition

That's about it :)
 
Last edited:

Become a Fastlane INSIDER to view the forum ad free.

Jeff Noel

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 26, 2018
515
1,023
369
Quebec, Canada
jfnoel.com
Welcome to the forum,

I'll be watching this thread. I believe the monitor world is more complex than you say it is, especially with variable refresh rate nowadays, panel types, overclocking, VESA mounts, etc.

I just purchased a used RX 580 8GB yesterday for 79 euros. People sell hardware and barely know what it is (the owner had an Alienware PC........). Gonna double that amount real quick.


Keep selling :)
 

SuKiauruDangciu

New Contributor
May 31, 2019
8
12
13
France
Welcome to the forum,

I'll be watching this thread. I believe the monitor world is more complex than you say it is, especially with variable refresh rate nowadays, panel types, overclocking, VESA mounts, etc.

I just purchased a used RX 580 8GB yesterday for 79 euros. People sell hardware and barely know what it is (the owner had an Alienware PC........). Gonna double that amount real quick.


Keep selling :)
What I wanted to say is it's relatively straight forward :) but yea i know what you mean. The interesting thing about displays is complete lack of descriptions in the ads :) most of the ones I see goes along the lines "monitor 26 inch " and single picture taken by old school soap camera :D
 

minivanman

Platinum Contributor
Speedway Pass
Mar 16, 2017
1,192
2,919
659
49
DFW
I wouldn't go for anything much under $100 profit on anything you flip. At first, you might take less than $100 profit to build up your cash flow but once you get enough cash to be a little comfortable, either set a higher price you can come down from or stick firm on your price.

And don't be this person who is selling something for $200 but has no confidence:
Buyer: Is this still for sale?
Seller: Yes. I will take a lower price if you offer.
Buyer: $100
Seller: Yes
Then the seller goes and tells everyone that they made a sale!

Be this seller:
Buyer: Is this still for sale?
Seller: Yes it is. Would you like to buy it?
Buyer: Would you go down in price? I'm a single parent who couldn't keep my pants on and now want to play the single parent card to get things for a cheap price. (Can you tell I HATE these people? :rage: )
Seller: I'm sorry but I can't go down on the price. What I will do for you is to throw in some LMNOPQRST cables for free.
 

SuKiauruDangciu

New Contributor
May 31, 2019
8
12
13
France
I wouldn't go for anything much under $100 profit on anything you flip. At first, you might take less than $100 profit to build up your cash flow but once you get enough cash to be a little comfortable, either set a higher price you can come down from or stick firm on your price.

And don't be this person who is selling something for $200 but has no confidence:
Buyer: Is this still for sale?
Seller: Yes. I will take a lower price if you offer.
Buyer: $100
Seller: Yes
Then the seller goes and tells everyone that they made a sale!

Be this seller:
Buyer: Is this still for sale?
Seller: Yes it is. Would you like to buy it?
Buyer: Would you go down in price? I'm a single parent who couldn't keep my pants on and now want to play the single parent card to get things for a cheap price. (Can you tell I HATE these people? :rage: )
Seller: I'm sorry but I can't go down on the price. What I will do for you is to throw in some LMNOPQRST cables for free.
For now I plan to adjust the price to let people negotiate (I feel it makes them happy to have the illusion of saving money just like spending whole day shopping for groceries because that yogurt is cheaper in the shop down town) :)

Thank's for the input :) much appreciated :D
 

minivanman

Platinum Contributor
Speedway Pass
Mar 16, 2017
1,192
2,919
659
49
DFW
If you are really serious about wanting to be a flipper and make real money, send me a message and I'll tell you who to follow. As I said in another post today, I don't promote anyone's site so I don't put it out in the open...... unless they pay me ;)

For anyone else reading this in the future.... that's fine if you put the price above what you actually want and then lower it to the price you originally want to start with. Personally, I'm a mega seller, not a wheeler dealer.
 

SuKiauruDangciu

New Contributor
May 31, 2019
8
12
13
France
New update:
Bought: Benq gl2706h monitor
Quantity: 2
Asked price: 75
Paid price: 55
Channel: Fb marketplace

Bought: Benq gl2760pq monitor
Quantity: 1
Asked price: 150
Paid price: 120
Channel: Fb marketplace



Current Cash:50

Quote Reply
Report Edit
 

gryfny

New Contributor
I've Read UNSCRIPTED
Jun 11, 2019
15
7
12
Europe
It took me a while to notice you've put quantity in there as well, at first glance I thought you were selling them all with a loss.
Good to see you're taking action. But isn't is very time consuming to answer questions by people? I've put some stuff for sale this month and the amount of dumb questions and low-ball offers I get in the DM are too much...
 

SuKiauruDangciu

New Contributor
May 31, 2019
8
12
13
France
It took me a while to notice you've put quantity in there as well, at first glance I thought you were selling them all with a loss.
Good to see you're taking action. But isn't is very time consuming to answer questions by people? I've put some stuff for sale this month and the amount of dumb questions and low-ball offers I get in the DM are too much...
Yea it's a bit time consuming. But that's whty it's important to write detailed descriptions about the item like exact model what's included and defects if any. Also I made a mistake of putting item for 1euro on fb marketplace and asking for a price offer. Huge mistake. The spam storm is a nightmare. When I raise some funds planning to move into higher price items hopefully that will weed out some of the lowballers (pretty sure thats not a word but it should be):D
 

Become a Fastlane INSIDER to view the forum ad free.

SuKiauruDangciu

New Contributor
May 31, 2019
8
12
13
France
Does anyone have some suggestion for productive way to spend the downtime? :D Doesn't take long to run out of funds when you start with 400 :D
 

astr0

Grinding
FASTLANE INSIDER
Speedway Pass
Dec 3, 2017
282
391
187
31
Lviv, Ukraine
Does anyone have some suggestion for productive way to spend the downtime? :D Doesn't take long to run out of funds when you start with 400 :D
Freelance as a software developer? Your funds would probably go up faster with trading time for money compared to 400 euro flipping. You can get a lot of experience with that bankroll but taking it to decent profits would require more money invested. Systematically putting more fuel while you learn is a great way to grow your hustle.
 

minivanman

Platinum Contributor
Speedway Pass
Mar 16, 2017
1,192
2,919
659
49
DFW
Personally, I think you are doing it all wrong. Since you have a limited amount of money, you need to start with smaller priced things to sell. This will bring in more cash but it also gets you experience in selling. If you buy 2 things and neither sell, or they take 6 months to sell, you are screwed. So, since you have a small amount of money, buy 20 lower priced things. And personally, I wouldn't make them the same things. Buy different things. Right now, you need money and experience.... you can worry about a niche later. Buy something at $10, sell it for $15 and make the $5 profit. You gained experience and now you have $15 to buy the next item. But, don't buy 1 item at a time.... buy 10 $10 items and make sure they will sell. Or even better.... go to a yard sale and buy several things for $10!
 

SuKiauruDangciu

New Contributor
May 31, 2019
8
12
13
France
Thought it's time to update:

New update:
Sold: Benq gl2706h monitor
Quantity: 2
Price asked: 200
Price received: 190
Channel: Fb marketplace

Current cash: 250

Finding it hard to find stuff reasonably valued to flip. But moving forward :D
 

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

FASTLANE INSIDERS

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom