Has anyone got experience flipping items?
I work, but could do with a bit of extra money on the side.
I was thinking of going to garage sales, buying furniture, tools, ect for cheap from naive old ladies, then flipping them on gumtree
I figure I could use a bit of charm and make a really good bargain.
Planning to try it out this weekend, will report back here with results
No, but in my 20's, it helped my poor ass stock a house full of furniture and accessories.
With the internet, CL, and ebay, most that are selling are informed enough to not leave enough meat on the bone. Then there are the professional scavengers that beat you every time ...
I was laid off in 2009 and me and a buddy had a truck. Wed go on Craigslist free section and find large valuable items that people wanted hauled out of their houses (couches, desks, pool tables, etc). Then we'd relist them and say "will deliver". Pool tables are the money maker. Picked a few up for free and delivered them for around $500 each. We had people placing orders for them before we had them.
The only reason it worked for us was the pick-up/drop-off thing. You still have to bring value to the table to expect money out of a middleman situation. I'd imagine if you weren't willing to pick up or deliver, youd have to put a lot of time into rehabbing broken items
Barbeques also made good money. Pick up free, sell for $50
Oh and most importantly you have to refresh the free page every 2 minutes all day and be ready to jump in the truck. The reason you never see anything good on there is it gets swooped within literal minutes of being posted.
I used to post ads in college buying broken iPhones. People would sell them because they thought they were junk. I'd pay $20 - $50 for phones that had water damage, no wifi, dead batteries, shattered screens, etc.
I'd put them straight on eBay. People would pay between $150 - $200 for them. They would buy them because they could refurbish then and sell them for a profit as well. I was essentially the middle man's middle man.
My brother and I picked up a HP 500C printer (prints on 42" paper, you need 2 people to carry it) for the princely sum of $0 from Gumtree, along with a dozen cartridges of ink; company was moving office and didn't want to deal with it. Bought a new black ink cartridge and printer head ($120-ish) and flipped it the next week for $500.
You really gotta be quick though. We called 10 minutes after it was posted and by the time we got there to pick it up the guy had another half dozen calls for it.
I'd also do video games. This was years ago when everyone thought their old video games were junk, I would just look up selling prices on eBay and resell them. Made anywhere between $50-$200 per video game collections I bought. My biggest home run was meeting up with this absolute MILF, who sold me a PS3 with about 30 games (most of them still retailing for $60) for only $300, and I resold the entire lot on eBay for over $1000, making over $700 in profit. She showed up with a baby, and she hinted the video games belonged to her baby's daddy who was no longer in the picture. I assumed she left him and stole most of his shit. Oh well his loss was my gain!
I do it sometimes on Craigslist but only with shit I know I can flip. Usually electronics. Easy money because most people on cl are looking to sell right away and are easy to low ball.
All great advice, but my whole plan of attack stems from having face to face contact and being to manipulate and con naive sellers at garage/ yard sales.
Two types of people set up garge sales :
1. Those who don't really care for making any money and are holding their sale mostly for human interaction
2. The elderly who want to get rid of some of their possessions, but aren't familiar with using the Internet.
Both these demographics would be easy to manipulate with some sappy story and get items for cheap or even free
If buying furniture :
I could talk about how I've recently moved out of home and am trying to get some furnishings together
I've recently started a trade and could really use X tool but don't have much money
Ect. You get the idea
I then sell these items for their actual value online