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NOTABLE! So you want to flip used items and make cash? Cool!

Discussion in 'Hustles, Freelancing, Bootstrapping' started by Sander, Jan 30, 2018.

  1. JFernandez
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    JFernandez New Contributor

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    Thanks for sharing these awesome tips, Mr. OP, Appleseed and Omega.

    I've been working on this myself, armed with a modest budget and living in nyc, I thought I would have the best chance at succeeding... One week later and bust. I either have no eyes for deals (yet!) or focusing on the wrong items. Again thanks for sharing.
     
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  2. miraman
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    What I have noticed about this is that, the sellers from aliExpress are also selling on Ebay with the same low prices, so not sure how to make a profit like this.
     
  3. bilkar1985
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    bilkar1985 Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Is it ok to post it on fb marketplace even if the real seller from craigslist has posted it in fb marketplace too?

    I know it may sound silly, but one may not want to sell it to you if you find quicker a buyer for his product.
     
  4. minivanman
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    minivanman Gold Contributor Speedway Pass

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    Do you mean.... you see it on Market Place so you try to sell it without buying it first? Then you sell it and if the original seller sees that you are selling his/her product they won't sell it to you?
     
  5. bilkar1985
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    bilkar1985 Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Yes, it was listed on CL, I went to post it on FB and it was posted there too. Will it be a problem if I post it too on FB and the other guy sees it?

    I know it kind of sounds like a dumm question and thinks like that don't matter as long as you make $$.
    You might have posted it in the same marketplace, but different or find a quickier way to sell it, the guy will take the money anyway for the sale of his item and you will get a difference.
     
  6. miraman
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    Problem I see is if someone bites on your ad and then you go to buy it from the original guy and he already sold it, or worse, you buy it and then the guy that wanted from you changes his mind and doesnt want it. Then you're stuck with it and have to sell it. I don't like this method, seems too tricky.
     
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  7. JohnnyAppleseed
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    JohnnyAppleseed Goyim Gone Wild Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    It has to be something that enough people want so that you can get multiple offers in case of a situation like that. But yeah that has happened to me before and I had to resort to ebay. Admittedly I haven't used craigslist the last couple of months partially because of constant lowballs, flakes, and dealing with people who will spend half an hour negotiating with you over a $5 difference.

    Also my stable job is funding my current venture and there's just not enough time in the day for flipping.
     
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  8. minivanman
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    minivanman Gold Contributor Speedway Pass

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    If this is your type of thing, go to a few antique stores to find some things, and put them on the internet. You gotta check back atleast every other day to make sure the items have not sold at the antique stores. IF you choose to sell like this, I'd do it this way and not from 1 ad on Market Place to another. Then if you sell the item, go to the antique store and try to get some type of discount so you end up making even more money. But it kinda seems like a hassle I wouldn't like personally. And by all means.... don't make $10-$15 profit. Choose items that's going to make you $100-$300 profit.
     
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  9. bilkar1985
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    bilkar1985 Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    and will the antique store let you make pictures of the items just like that?


    Sent from my iPhone using Tapatalk
     
  10. LittleWolfie
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    LittleWolfie Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    You could always use one of those smartphone watches with in built cameras.

    Just try not to have a conversation through it unless you want to look like a madman.
     
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  11. daivey
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    Here's the thing with the "flip" and "hustle" that you see a lot of this online.

    Can you do it? Yes
    But you will need to invest a lot of time in it, learning a few niches/products, inside and out, so that you know what to look for.

    In larger city centers and urban areas, where the population is "smarter", university educated, and have professional jobs, it becomes more difficult to flip the smaller gadgets/gizmos, because people are not dumb. That is, you're not going to get an iphone for $50 and sell it for $400. It's almost impossible to do that in a large city.. Unless you buy it from a grandma that doesn't know what she has and trying to get rid of it.

    the other issue with that is that there are thousands of people doing the same thing - specially in a big city. Again, people are not dumb.

    The price abritage is being wittled away because lots of people are doing this same "hustle".

    Even "low balling" people, will likely results in a lot of no answers. You might snag a few "yes" to desperate people, or might be able to open the door to negotiate, but it's rather difficult.

    I'm not "whining" and saying it's not impossible. What I am saying is that POPULAR, COMMON items, that easy to flip and take no effort, likely have their margins reduced because of how easy/common the information is.
    So this is where you need to use knowledge and elbow grease/sweat equity to make any profit. And it will be hard.


    is it worth it? in my opinion, in large cities, in 2018, the craiglist hustle is pretty much gone. The time you will need to spend to make it worth your while- you may as well do the best u can at your current job.
     
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  12. LittleWolfie
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    LittleWolfie Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Also craigslist has hardly any traction and Facebook is not as popular as whatsapp, so I'm trying the same approach using other sites.
     
  13. F Wings
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    F Wings New Contributor I've Read UNSCRIPTED

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    I've been trying to raise some cash flipping items. All the items have been some kind of electronic gadget. Tablets and phones. I'm not an "I" person myself, but there seems to be a never ending market for iPhones.

    Obviously this hustle lacks many if not all of the CENTS. Well, you can scale in magnitude if you have more capital to invest per item. I found out I can increase the E and N by doing fix & flip instead of simply flipping. To simplify, I buy a broken Iphone with say broken screen or battery for cheap, fix it and sell for profit. It requires very little know how because there are free videos and guides online for pretty much every problem and model out there. Parts are easily available online as well.

    Scaling & time of course will remain an issue, unless you are able to make some kind of repair business or franchise. But that's why this is called hustle, not fastlane.

    So far I've made more money with the simple flip because I invested a bit into repairing equipment (heat gun & some other tools to make the work more handy) also had to pay some dues by buying an older model for too big price but I wager I'll get couple of bucks from that too in the end. All in all it seems promising. I estimate it could be even possible to top my day job earnings doing this. Have to see how it goes, it's quite fun. Perhaps I make a thread about it down the line & if I can get some tasty name for it like "I was able to quit my day job doing this hustle".
     
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  14. minivanman
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    minivanman Gold Contributor Speedway Pass

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    It is fun, that's why I do it. A video came up on my Youtube so I watched it. A guy went out all night buying Monopoly games from WalMarts and posted them on ebay. He bought like 130 and by the next morning he had sold I think 70 of them and made $2500 in profit. That was the video anyway... being in this business, I believe him.
     
  15. No Excuses
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    I just read that story on Market Watch. He is gaining a lot of attention! Over 1M+ views now.. making as much or not more on the video itself ;)

    How one guy made $2,500 in a day flipping ‘Monopoly for Millennials’ games

    Edit: Just noticed Amazon deleted the entire listing to this Monopoly Game
    https://www.amazon.com/Monopoly-for-Millennials-Board-Game/dp/B07K2SYDJ1

    Edit 2: Looks like Amazon reinstated the item again
     
    Last edited: Dec 6, 2018
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  16. minivanman
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    minivanman Gold Contributor Speedway Pass

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    So that serves him even better. He should send Amazon a thank you note. :) And, he will get more subscribers that will watch more videos in the future so it nets him more money in the future videos as well.
     
  17. No Excuses
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    This is a gated item and I'm not sure if Hasbro or Amazon shut it down. Could have been a lot of fraud going on since it's a hot item or possible they just didn't like the attention it was getting.

    I see eBay it's trending around the $45 mark and that includes shipping.
     
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  18. minivanman
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    minivanman Gold Contributor Speedway Pass

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    Oh well, he will make much more from video views over the next few years than he would off the games.
     
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  19. Neng Her
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    Neng Her Contributor Read Millionaire Fastlane

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    is it worth it? in my opinion, in large cities, in 2018, the craiglist hustle is pretty much gone. The time you will need to spend to make it worth your while- you may as well do the best u can at your current job.[/QUOTE]

    Why not do both.

    ;)
     
  20. minivanman
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    minivanman Gold Contributor Speedway Pass

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    Why not do both.

    ;)[/QUOTE]

    Apparently you aren't hustling the right stuff. I don't get my stuff off of Craigslist anymore... but I could. I actually bought 2 sets of washer/dryer from Craigslist last week just because I like it. Do you see how often I'm on here? Between dealing with several other businesses AND selling washers and dryers I will make an easy $90,000 taxable income this year just from washers and dryers alone. I had a few months where I really hustled just to keep up with the buyers so that put me ahead of my projections. Anyway, if a person is making $25,000 or $40,000 why wouldn't they double their income? The Craigslist hustle is alive and strong. I actually plan to buy a few more from Craigslist in 2019. You see a set for $600... ask if it's still available.... then wait a day.... tell them your budget won't let you spend that much (No lie. You should always have a buying budget). Now you've made a few contacts with that person so you aren't 'strangers'. In a few days get back with them and ask if they sold it yet. If not, tell them you have $250 in your budget and you know they can't take that low of an amount but what would be their lowest they would take. They might say $500. Tell them you will be trying to put more money in your budget.. 3 days later tell them you have $300 and you think that's all you will be able to put in your budget.... notice how I've never lied? I never said I didn't have the money, it's my budget that doesn't have the money in it. Sometimes they will sell it for $300 that day, sometimes they will never sell it to you for that low of an amount but SOMETIMES..... ding ding ding..... we have a winner! So now you buy it for $300 (maybe a few days later because they really want more but need to sell it), clean it up, take better pictures and put it on Facebook market place for $599. Just make sure it's a set you can sell for $599. Sometimes you will need to buy at $225 and sell for $375... it depends on the set. Don't have trash on your Facebook page. People will be checking your profile. If you look trustworthy, people will pay you $599 on Facebook but those same people would never trust you on Craigslist.

    1 reason I'm giving up this secret to those that don't know how to wheel & deal.... I need everyone in my area to buy up all of the cheap sets from Craigslist/Facebook/phone apps and that way we can all sell them for higher prices. The people you bought it from needed to get rid of it before the 1st of the month. You don't have a time line so if you keep it 3 weeks, that's ok.

    You could do this same thing with lots of stuff. Just don't be a $10 hustler. If you aren't going to make $100 profit for your effort, find something to make a minimum $100 from. You will get to where doubling or tripling your money won't be that hard.... I'm not talking about buy something for $5 and sell it for $15.

    Or, was this post a ploy to get people to not do the Craigslist hustle so it leaves more stuff for you? If so, sorry :)
     
    Last edited: Dec 7, 2018
  21. Neng Her
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    Neng Her Contributor Read Millionaire Fastlane

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    @minivanman Dropping knowledge like always. Currently have no Rep++ to give you but I always enjoyed your feedback.
    May I add that I have much more success in negotiations when being super polite and kind. I always thank a person for their time regardless if the deal goes down or not. Anyhow, as we speak I just made a deal on FB Market place. See yal ina few....
     
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  22. F Wings
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    Just sold an iPhone like 10 minutes after putting it up for sale. Funny thing, I wasn't expecting to sell it for that high. The problem is, I kind of messed up and bought what I thought was in good condition but didn't see that the screen was broken, or I just miscalculated it; dunno. So I had to put a kind of exorbitant price on it. Profit: 5€ but I'm glad I got anything. Still learning and paying my dues. Oh, and I also managed to break a replacement screen while installing it. There goes another 35€... Paying the dues. I'll get it back and more.

    Best profit for an item so far is 30€. But I want to make much more than that. Now my rule I wont buy unless I can assume to make at least 30 in profit.
     
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  23. minivanman
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    Oh yeah, I'm always nice to them no matter if I buy their stuff or not.
     
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