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The Buy Low, Sell High vision is simple and what a lot of passive income is based around.

Source a product.
list a product for sale at a higher rate than you found it.
Advertize this product on social media or offline.
Collect the sales money, and then drop ship the product to the person who bought it.
People do this all day long. (*I do this all day long) lol.

Problems that people have to overcome for Buy Low, Sell High:

What product to sell. Almost anything you can sell. So pick something that you have a bit of a connection with. If you like sports, then sell sports things, if you like being hip, sell products that other hip people use (Like them dam air buds).
Where to source products. Here you have many options. I use this company for Buy Low, Sell High: http://bit.ly/2PhoF3w They offer many products at 80% off with free 24 hr shipping to the USA.

Where to sell products after you fond them?

We have many many Buy Low, Sell High options here.

The "I use it myself" method: Find a product on that page, order yourself one of them, take a photo with it, then post that photo offering to sell the item for a mark up (*80% ?). When you get a sales, take payment by Paypal, order the item and drop-ship it to the person who bought it.
The lazy, relist method: Just reposit the photo of the item, tell people about it, take orders at a markup and drop ship it.
The Craigslist / classified method: Post the item on Craigslist, when someone wants to buy it, order one, meet them in 2 days after it arrives, and sell it to them for a markup. People do this a lot with Amazon products too. And, that brings us to next method for this.Bonus hint, you can do this in Facebook buy and Sell groups too. ;)
Sell it on the Amazon: If you find a hot product, Buy 50 of them and use The Fifulment by amazon service. Amazon will list and sell your product for you. Bam, is the start of your digital empire.
The offline method: Did you order one of these products, do people ask you about it? Chances are good then, they like it to. So, buy a few extra and keep them in your bag. When someone says, "wow what a nice ..." you can then say, "I sell them. Here!"
You can even use this method to earn BTC. Sell a product on line for BTC, sell the BTC after the transaction to buy the item and then ship it, while keeping the extra BTC.

There are many many methods to buy low and sell high. This is just one method and idea you can employ to build up some passive income! What are your thoughts?