“Buy an item at a low price and then sell it almost twice its price to earn a profit? How is that even possible?” That is also the question I had in mind before I discovered the beauty of buying and selling online, or what others call as flipping.
Just like you, I was a little skeptical when I first heard about the “promises” of flipping because it just seems too good to be true. However, with thorough and careful research, I finally understood how people can actually leave their corporate jobs and focus on flipping items online. That’s the time when I mustered the courage to also start my buy and sell business on the internet.’
If you’re reading this, I assume you’re a beginner. Don’t worry, though, I too started with zero idea on the business and just got by with the help of reading articles in blogs and posts on reddit.com by flipping experts.
Reasons to start flipping items:
- Additional income. It may take a small investment in the beginning to get items and learn what works in your area after you make that back its profit.
- You don’t need a whole lot of knowledge, only to browse and posts ads on craigslist.
- After you scale up and begin buying higher priced items, you will only need to work a few hours to make thousands of dollars a week.
- Working fewer hours allows you to do other things you enjoy rather than working. Of course, you can put in more hours and make even more money as well.
- Learning to haggle can come in handy in your personal life. For instance, if your fridge breaks and needs a temporary one for a few days, you will have the ability to get it for cheaper than it’s worth then sell it for more than you bought it for.
The preparation:
- This is not a get rich quick scheme. If you plan on making this a full-time gig, procrastination is you worst enemy. You have to stay focused or you’ll end up with a room full of stuff you have but don’t want.
- Ensure you have researched an item before buying it. The last thing you want is to purchase and item for more than you can sell it for.
- I recommend sticking to 1 type of item in the beginning. Video games, appliances, electronics, collectables. That way you can become familiar with items to look out for.
You have to also be careful with the people who want to buy items from you. Especially when selling on craigslist, where you have to meet your buyer personally, you have to agree that you must meet in public places in order to avoid dangers of being a victim scammers or bogus buyers.
Some of the hottest items to buy and sell on craigslist are:
Mobile Phones
With the constant release of new cell phone models, some people tend to upgrade their mobile phones rapidly; this means that there is always a steady supply of used cell phones. The demand is also high for second-hand phones (especially smartphones) because most people opt to purchase used phones as a cheaper replacement for lost or older phone models.
Computers
Same with mobile phones, most people easily dispose of their computers (personal computers, laptops, netbooks, etc.) when a new model comes out. If you’re a computer whiz, I’m sure you’ll be able to make a profit out of upgrading and selling second-hand computers.
Electronics
According to Craigslist expert resellers, electronic gadgets are items that are easy to find and sell on the website. In terms of storage, electronics are easier to store in your home compared to keeping large items such as furniture and home appliances.
Furniture
Most furniture (especially antiques or high-end) can cost you a lot of money when buying them compared to buying electronics or mobile phones. However, selling them online can also give you a lot of profits because prices for furniture are often stable, or even appreciates over time, compared to the value of gadgets that depreciates after a while.
Chairs, bookshelves, tables, or any wood furniture are often best-sellers on Craigslist.
Appliances
Appliances are items that are again easy to buy and sell online because of the steady supply and demand for it. Every home needs an appliance, therefore, you are sure that you always have a market for this type of item. The only investment that you have to consider if you want to buy and sell appliances is how you can transport large-size appliances like washing machines from your home to your buyer.
Bicycles
Using bicycles as an alternative mode of transport is beginning to be the “in” thing again. Buy bicycles online and then do a quick fix can easily earn you profit.
Cars
If you really want to make it big, flipping cars can be considered as one of the items that could give you the highest profit. However, if you know only the basics about cars, and have zero idea on dealing cars, then I suggest you just stick with smaller items that I mentioned previously.
To be continued.
Dawg.