Everyone is familiar with selling something online. You find something in your house and you post it up for sale on Ebay, Craigslist, Amazon, Facebook Market Place etc. Selling something which we no longer use can be satisfying. Why not take that one step further and start sourcing out items to sell? Yes you will need to find these products and invest a small amount of time and money but there are profits to be made from flipping items.
Lets have a quick look.
There are many different levels to this. You could use it to earn a little bit of money here and there, you could use it as a side hustle / second income or you could go all in and make it your full time commitment. There are examples of people on every level. Some people make an extra couple of hundred dollars a month and some make full time wages of over $100,000.
It really does depend what you put into it.
You can flip just about anything. It doesn't have to be limited to large items, such as properties.
Examples of where to find products:
- Flea Markets / Car boot sales / Antique Fairs.
- Online: Ebay / Craigslist / Facebook Market Place etc. - Quite often you can find cheap items (or even free) on one site and then sell them for a higher price on other sites.
- Thrift Stores
- Auctions
- Yard Sales
The concept is simple: you source out cheap items and sell them for a profit. You will usually be selling the items online so utilize sites like Ebay and Facebook Marketplace to sell items that you purchase.
Come to understand that almost anything can be sold and there is potential to make a profit.
The positives of doing this are that you can do it on your own time, commit as much time as you want to it and you can start off with small investments.
If you do want to dedicate more time to this then you will no doubt be spending a lot of time at yard sales, flea markets and auctions but it can be a profitable venture. More importantly, a profitable venture on your own terms.
This method of making money is available to everyone and there is absolutely no excuse for not trying it, especially if you desperately need money. As an experiment, take a trip to your local thrift store with a budget of $50. Buy something or a couple of things and try to sell them for a profit. Once you have done that you can go from there and start investing more money and time into it.
Aside from the earning potential, going to flea markets and yard sales can be fun. You would be surprised what you will find. It is often a nice way to get out the house and do something with your day.
I once found some old Vinyl Records at a thrift store and sold them on Ebay for 10x what i paid for them. Not a bad little profit margin!
Have you flipped anything before? What was it? What profit margin did you accomplish? Let us know in the comments.