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Look for advice for flipping $400!

by wesb
18 replies
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Hello fellow Warriors:

I have $400 dollars that I would like to flip.

Here is the deal...

I put aside this money to start a part-time business and I am looking to spend some of the money on something that I can flip over on eBay or whatever the medium maybe.

I want to act as if I am a gambler or a stock trader and start with a small portion of the $400 pot. For example spend $100 dollars on an item and then sell that item for a $50 to $100 profit or whatever the case maybe.


Then take the profit plus the same hundred and find something else to buy and flip and so on.

In other words I don't want to spend the whole $400 on one item.

Any ideas or suggestions would be greatly appreciated!

Thanks!

wesb
#$400 #advice #flipping
  • Profile picture of the author Auctiondebteliminator
    I've got a MILLION suggestions for you.

    One thing, though, is before you make ANY decisions, you HAVE to make sure you know exactly how much the item(s) WILL sell for, minus deductions.

    All to often, people don't take this into consideration and just guess on the market value and get burned.

    In addition, they don't know the specific methods on what formats to list on eBay.

    And items go unsold - or they sell for a loss.

    And then they come back and says stuff like: "Well, I took a loss, but that's okay. At least I got the feedback", or, "At least I got rid of the item" or "I just wanted to sell it for the experience"

    Let me ask you this:

    How long do businesses stay in business if they sell items for a loss for 'experience, turnover, or feedback?'

    Not long at all.

    I've been teaching people how to make data-based decisions for years. How to predict EXACT profits, and how to find exactly how to list an item on eBay and 'spy on the smartest kids in class'.

    Oh, and maximize profit as well.

    Oh, and how to source products - and even 'flip' some petty cash.

    You're in a great position, wesb, just don't 'guess' at anything - and make ALL decisions based on data.
    Signature
    Famous for my '$1000 dollar challenge,' I've been teaching people how to DOMINATE on eBay for YEARS. Sell 100% of your items FOR A PROFIT. Rank higher, sell faster, sell more, and DESTROY your competition with a data-based approach. Quit listening to Guru's-in-training! Click now below!
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  • Profile picture of the author craigslistleedz
    You could always flip brand new websites.

    $8 for a domain, $9 to list it and $15 success fee. It's how I started and developed my first Internet business.

    Yes, it still works as I do it passively.

    Originally Posted by wesb View Post

    Hello fellow Warriors:

    I have $400 dollars that I would like to flip.

    Here is the deal...

    I put aside this money to start a part-time business and I am looking to spend some of the money on something that I can flip over on eBay or whatever the medium maybe.

    I want to act as if I am a gambler or a stock trader and start with a small portion of the $400 pot. For example spend $100 dollars on an item and then sell that item for a $50 to $100 profit or whatever the case maybe.


    Then take the profit plus the same hundred and find something else to buy and flip and so on.

    In other words I don't want to spend the whole $400 on one item.

    Any ideas or suggestions would be greatly appreciated!

    Thanks!

    wesb
    Signature
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    • Profile picture of the author Sweetcheeks12354
      Originally Posted by craigslistleedz View Post

      You could always flip brand new websites.

      $8 for a domain, $9 to list it and $15 success fee. It's how I started and developed my first Internet business.

      Yes, it still works as I do it passively.
      Are you talking about Flippa? I'm not sure if it's only $9 to list it.
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      • Profile picture of the author timpears
        Originally Posted by Sweetcheeks12354 View Post

        Are you talking about Flippa? I'm not sure if it's only $9 to list it.
        Yes it is. Flippa lowered their listing fee recently, but raised their success fee to 10%.

        I got prices on helicopters a couple days ago from one of the many vendors on Alibaba. This is an item you could flip pretty easy. You can get an assortment if you ask, or just buy a case or two of their variety and flip them for 200% profit I believe. Do your own research though, don't rely on my figures and memory.

        But there is lots of stuff you could do this with and get an inventory and peddle it on eBay.
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        Tim Pears

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        • Profile picture of the author wesb
          I like the idea regarding the helicopters. I did some research yesterday and I see the potential for good profits. Thanks!

          Originally Posted by timpears View Post

          Yes it is. Flippa lowered their listing fee recently, but raised their success fee to 10%.

          I got prices on helicopters a couple days ago from one of the many vendors on Alibaba. This is an item you could flip pretty easy. You can get an assortment if you ask, or just buy a case or two of their variety and flip them for 200% profit I believe. Do your own research though, don't rely on my figures and memory.

          But there is lots of stuff you could do this with and get an inventory and peddle it on eBay.
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          • Profile picture of the author wesb
            Thanks to all that gave me some advice. I will look into the idea further. Thanks Again!
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    • Profile picture of the author wesb
      Thanks for your reply!

      So you are talking about creating new websites and selling them?

      Originally Posted by craigslistleedz View Post

      You could always flip brand new websites.

      $8 for a domain, $9 to list it and $15 success fee. It's how I started and developed my first Internet business.

      Yes, it still works as I do it passively.
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      • Profile picture of the author craigslistleedz
        Yes, its a very profitable business model. When I was doing it full time I would sometimes make up to $4000 per month. I still do it today with my team, virtually on autopilot.

        But, I'm more focused on teaching it to others and helping them get started.

        Originally Posted by wesb View Post

        Thanks for your reply!

        So you are talking about creating new websites and selling them?
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      • Profile picture of the author Matt Kendo
        Originally Posted by wesb View Post

        Thanks for your reply!

        So you are talking about creating new websites and selling them?
        I would also recommend Flippa. I would suggest spending a few days or even a few weeks on there for a bit of time every day and getting used to the prices that are being paid for different types and values of sites. Also, paying attention to what people are paying for sites vs what the seller started out with asking. This will improve your flippa specific negotiation strategies before you start spending money on it.

        Sometimes I will see what looks like a great deal and then, after spending another hour or day looking further find what is a great deal making the first one I found look not not a good deal at all. So, what I am saying is don't settle on the first thing that catches your eye.

        Matt
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  • Profile picture of the author panic
    For that amount of money I would say just go to a couple garage sales early morning Saturday/Sunday. Try and buy some items you know you can sell...ie. Video games.

    You need massive profit margins with that small amount of starting capital. Buying used goods will help you increase your margins. You will have a tough time buying a single unit of a new item and selling it quickly for a large margin.
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    ~

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  • Profile picture of the author theory expert
    Banned
    What does toy helicopters have to do with flippa? I am confused.
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    • Profile picture of the author wesb
      Originally Posted by theory expert View Post

      What does toy helicopters have to do with flippa? I am confused.
      timpears was answering a question regarding flippa from one post then went ahead and gave me some info regarding helicopters.
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      • Profile picture of the author eric w
        Since you mentioned ebay, here's something very important to keep in mind.

        As of april 16th, for non stores and may 1st for ebay stores, the fees are going to increase dramatically.

        I regularly make money on ebay and 1 of my methods is to make $4-15$ profit on items that I can move within a couple of days on ebay.

        Well, today I found more items that meet my criteria....one of them is a hard drive. Normally it would cost me $10 in ebay fees at the price I sell it at and from experience, I can make between $6 and $15 net profit each....easy.

        While I was doing my research and crunching the numbers, ebay showed their current fees and new fees (stating april 16th). There was a $7 difference!

        Currently I'd pay $10 in fees, but for the same item sold at the same price on april 16th....$17!

        That's a big jump. For this one particular strategy I use, I'm going to have to make some serious adjustments. It won't affect, as much, items with big profit margins, however this is a big jump.
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        • Profile picture of the author wesb
          Originally Posted by eric w View Post

          Since you mentioned ebay, here's something very important to keep in mind.

          As of april 16th, for non stores and may 1st for ebay stores, the fees are going to increase dramatically.

          I regularly make money on ebay and 1 of my methods is to make $4-15$ profit on items that I can move within a couple of days on ebay.

          Well, today I found more items that meet my criteria....one of them is a hard drive. Normally it would cost me $10 in ebay fees at the price I sell it at and from experience, I can make between $6 and $15 net profit each....easy.

          While I was doing my research and crunching the numbers, ebay showed their current fees and new fees (stating april 16th). There was a $7 difference!

          Currently I'd pay $10 in fees, but for the same item sold at the same price on april 16th....$17!

          That's a big jump. For this one particular strategy I use, I'm going to have to make some serious adjustments. It won't affect, as much, items with big profit margins, however this is a big jump.
          Thanks. I have been hearing a lot about eBay fees lately. Years ago I used to sell socks by the dz on eBay and was making a pretty good profit until eBay fees ate into my profits so I had to stop selling the socks. I haven't really sold much on eBay since. Thanks again!
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  • Profile picture of the author Auctiondebteliminator
    Here's my take on eBay fees, though.

    eBay charges fees because they have MASSIVE traffic - it's their leverage. With that traffic (that you don't have to generate) they charge you for.

    In the same way eBay charges fees - the post office charges for shipping - because you don't have to deliver it yourself.

    So, it doesn't matter how much fees are - or shipping - or anything like that.

    What matters MOST is how much people are willing to buy it for AND the bottom line.

    If you do a market analysis and see that the items are SOLD for a certain price, and then you take your deductions - and come out with an APPROPRIATE profit, then it's a good item to list.

    If you're breaking even or taking a loss, then you need to either get it for cheaper (by negotiations or otherwise) or scrap the item all together and list another item.

    All decisions are based on numbers - and eBay has given us a GREAT marketplace where buyers are coming in droves.

    While other sellers complain about 'fees' and leave en masse, we can take advantage by taking their spots and making 'data-based' decisions via numbers.

    After all, the only numbers that DO matter are the MARKET worth and the BOTTOM line.

    Not fees and shipping - but they are used to find the important 'decision makers'.
    Signature
    Famous for my '$1000 dollar challenge,' I've been teaching people how to DOMINATE on eBay for YEARS. Sell 100% of your items FOR A PROFIT. Rank higher, sell faster, sell more, and DESTROY your competition with a data-based approach. Quit listening to Guru's-in-training! Click now below!
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    • Profile picture of the author wesb
      I really don't have a problem with eBay fees. All businesses have to make money. I just need something that I can sell with a large enough profit margin to cover both the eBay and paypal fees.

      In reference to the socks I was selling around 10 years ago, the profit margins were small so when the fees were increased I just couldn't afford to sell them online anymore.

      But I have been hearing people complaining about the fee increase on eBay.
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    • Profile picture of the author wesb
      Just read your free ebook about selling on eBay. Great information! I never thought of doing research that way. Thanks!

      Originally Posted by Auctiondebteliminator View Post

      Here's my take on eBay fees, though.

      eBay charges fees because they have MASSIVE traffic - it's their leverage. With that traffic (that you don't have to generate) they charge you for.

      In the same way eBay charges fees - the post office charges for shipping - because you don't have to deliver it yourself.

      So, it doesn't matter how much fees are - or shipping - or anything like that.

      What matters MOST is how much people are willing to buy it for AND the bottom line.

      If you do a market analysis and see that the items are SOLD for a certain price, and then you take your deductions - and come out with an APPROPRIATE profit, then it's a good item to list.

      If you're breaking even or taking a loss, then you need to either get it for cheaper (by negotiations or otherwise) or scrap the item all together and list another item.

      All decisions are based on numbers - and eBay has given us a GREAT marketplace where buyers are coming in droves.

      While other sellers complain about 'fees' and leave en masse, we can take advantage by taking their spots and making 'data-based' decisions via numbers.

      After all, the only numbers that DO matter are the MARKET worth and the BOTTOM line.

      Not fees and shipping - but they are used to find the important 'decision makers'.
      {{ DiscussionBoard.errors[7874826].message }}
      • Profile picture of the author Auctiondebteliminator
        Originally Posted by wesb View Post

        Just read your free ebook about selling on eBay. Great information! I never thought of doing research that way. Thanks!
        Hey man!

        Thanks for the plug! You would be surprised at how often I get that: "I never thought of doing research that way!"

        Sometimes it takes picking apart some elements in their simplest forms and just being the 'smartest kids in class' to really achieve success.

        Again, thanks for the plug - glad you enjoyed it!

        -Auction Debt Eliminator-
        Signature
        Famous for my '$1000 dollar challenge,' I've been teaching people how to DOMINATE on eBay for YEARS. Sell 100% of your items FOR A PROFIT. Rank higher, sell faster, sell more, and DESTROY your competition with a data-based approach. Quit listening to Guru's-in-training! Click now below!
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