Thrift Store Flipping On eBay $100 Challenge Turn And Burn For Profit
Flipping Quick For Steady Profit On eBay
What Your Banker Pays You
So before I started selling items I purchased at local thrift stores for a profit, I did a lot of research about retirement funds. I looked at CD’s from the bank, what a joke, I had to give them at least 25,000 in return they will give me a .5% interest rate. Okay that will take me 70 years to retire that way.
Next I looked at the stock markets, day trading, long term, short term, sell short, average cost per share over long term, I was swimming in a sea of a different world, and decided before I really got started this was not for me.
Finally I looked at hedge funds. I give someone I don’t know all my money and trust them to buy and sell stocks for me. Really? Yes it is better then the bank, but far more risky. So I decided that none of these were for me.
- Turning & Burning For A Steady eBay Profit
My flag business was growing on eBay in leaps and bounds. I had heard in a group on facebook about eBay live in Philadelphia PA, so I went. I meet a couple of guys that are now famous and have their own TV show, and went to their lecture on buying and selling on eBay. I thought it was a joke to be honest. I know that there is some money in flipping, but not big business. But I went home and watched the video they told me about. (check it out below) I seen it but still thought it was a gimmick. BUT I had to try it out.
So I went to Good Will and within 20 minutes had found 5 Tommy Bahamas Hawaiian Men Shirts. (now a turn and burn brand) I was hooked, but I wasn’t ready to list the items yet. I had to do some research. So I studied and followed and read and searched. Google was my best friend. Everyone said list it, and let it sit for top dollar.
That’s when it hit me like a ton of bricks falling from the sky. Turn & Burn as I call it. Buy it cheap make a few bucks and move on. The bank offered me nothing, stocks were risky, hedge funds paid others for your risk. So I seen this as my retirement account. If I paid 1.50 for an item and net profit after all expenses was 4.50 I made a 300% return on my investment.
Turning & Burning took on a whole new meaning for me. The goal was to invest and cash out for a profit quickly. Which allowed for more treasure hunting. YES there are homeruns to be made. If you invest 1000.00 bucks in Facebook from day one and sat for years you probably cashed out a sweet return on investment (ROI) BUT would it be as much as some of my investments?
These guys are the BOMB
Gold Nuggets For Less
My Latest Turn & Burn Items
I love battery operated toys, probably because it reminds me of my grandfather, he would have tons of them going in the living room and my grandmother would be like Freeeeeeed turn them damn things off your giving me a headache.
I find them for 1.95, I put cheap dollar store batteries in them to make sure they work, and suggest that the new owner look into buying rechargeable batteries in my thank you note to the new owner. I am not going to say I don’t look every one of my toys up before listing on ebay, just in case I find that 100,000 dollar golden egg. (has not happen yet). But I do list them at auction for 75% of the average price of sales on eBay. 7 day auction, will run it 2 times at the same price if it doesn’t sell I lower the price by 50%. Still no sale I list it as BIN with a best offer.
I am not looking to make a home run on every sale, and if you are a reseller and steal something from me and resell it, CONGRATS, but know I made a profit as well. Which is more then I would have made leaving it sit in the bank.
There are many items you can do this with, what I suggest is that instead of trying to copy what I do, find the items that you love, and make a steady income from the turning and burning of items, while looking for the homeruns that are out there waiting for you to hit.
In closing, when I find a diamond, I am willing to wait for my price, especially if I really like the toy. But if it is just an average 2001 gemmy Animated Gorilla singing I want to bang on my drums all day… I will be happy to make a 500% return on my investment while knowing that someone will smile like I did when I watched it for the first time…
Good luck and remember turning and burning is a quick way to flip your items and may not work for everyone. But for me it is the best thing I can do to stay busy.
Home Runs Are Still Out There
But not as rare as hitting the winning grand slam in the world series final game. I have had bigger return on investments then Warren Buffet. I bought a 50 cent 2 piece LA Lakers crushed velvet sweat suit, sold with in a week for $180 profit. My wife found a purple label ralph lauren for 50 cents we sold it for 125 with in 30 days. It is okay to look for the home runs, but all they can do is sweeten your bottom line profit. If you try to build your business on home runs, it will be like waiting to hit the winning home run in a major league baseball game, not very often.