I wouldn’t call non payers a loss of money, certainly costs time, especially with auctions. To cut down on non paying buyers, don’t do auctions and require immediate payments on your buy it now listings.. I’ve been selling on eBay over 20 years, personally I wouldn’t tie up the kind of money you do in single items, If I’m spending $300, I will have many items to sell and it will spread out the risk also the ROI is much higher. The risk involved with paying $300 for one item and selling it for $500-$700 is very high. But $300 for 30 $10 Items you sell for $25 each is $750 and you spread the risk out so thin that they would need to scam you on over half of them before you lost money, but $300 into one item and bam 1 scam, lose all $300. I do like the freight idea, very interesting.
Hey Steve thanks for the insight! I used to buy lots of items to resell at $25 each and other methods with a lower average sale price. What I found is that those items typically take longer to sell and also is much more work in terms of listing and shipping. I’ve found that purchasing fast selling items to make $300 an item has worked for me. Possibly I can implement both strategies
@@TheResellingConsultant Yes, a mixture of both is good. I try not to be the stereotypical old eBay seller stuck in my ways, but I know I am to some extent. I like the fresh new approach you take and even though I’m uncomfortable selling large freight items, I’ve known for years it has great opportunities for those willing to do it, perhaps you’ll motivate me to leave my comfort zone and give some of those items a try.
First off, great content here I’m all for it. Recently I picked up a Jenn Air cooktop and have questions about freight shipping. This would be my first item that needs to be shipped freight. I would love to see the detailed process, as of now I’m still unsure how I would get this item out.
When you are planning driving and picking an Facebook Marketplace purchase item up, how far do you set your search parameters? I live about 100 miles from a bigger city or town, 45 miles to a town with 30,000 people and 20 miles to a town with 2000 people. I am interested to see how your freight shipping idea works out, sounds like a shipping broker and shipper/ driver all in one.
Hey there! I set it at about 45 miles. I do not mind the hour long drive or 2 hour long drive if I’m going to make $500-$600 on a flip. That’s the plan, help us make a little bit of extra money while sourcing along the way
If you want to make money fast for purchasing your first property using reselling. Get a cheap pick up truck and flip sofas. I know sounds crazy but that is how Ryan Pineda started (worth checking out). The first property should be a tax lien property, bank owned, short sale, HUD or buy it with a FHA loan. As the saying goes, 'the day you buy it is the day you sell it.' It's about getting the property at the cheapest price possible. Don't flip the property, it's too much work for not much return, also the taxes eat into your profit. Instead build a portfolio of properties, to keep and rent out, use the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat). See Bigger Pockets for info on this. Then focus your channel on property investing, Airbnb, ADU's instead of flipping.
Hey there, thanks for the advice! A truck is in the works and flipping couches might not be too bad. My credit score is good enough for a 3% conventional that will be a live in renovation/house hack. The goal is to add value while living and renting it out to either heloc or if rates get better refinance into another one.
@@TheResellingConsultant Nice, sounds like you are on your way. I fixed up properties in Oakland CA w my business partner using my own money for the renovation. Then we rented them out for a few years then sold them for a profit. It was a mistake. In hindsight we should have used the money to buy more properties NOT spend it on renovations. My advice is do a budget renovation, that looks good enough to get you a good refi loan. Renters cause damage and we had to redo that work before we sold them. We should have kept them. We made good money when we sold them but we had to pay a big chunk of capital gains tax on that profit. We could have done a 1031 Exchange and rolled the money over into a new property but that gets real complicated when you have a business partner. Finding the right house, all the fees, the paperwork, the time, all of this work only makes sense if you rent it out, Airbnb it, then leverage that property to get a loan for the next property. The key is to be a property investor, not a house flipper. Your time will be better spent learning how to find deals, use a local credit union or small regional bank, not any of the major banks, send in a crew to renovate, then look for the next property. I like your channel.
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I hate it when people don't pay for items that they buy or bid on. I don't understand why eBay can't enforce it, other selling site do. Good luck.
Eventually paid!!
I wouldn’t call non payers a loss of money, certainly costs time, especially with auctions. To cut down on non paying buyers, don’t do auctions and require immediate payments on your buy it now listings.. I’ve been selling on eBay over 20 years, personally I wouldn’t tie up the kind of money you do in single items, If I’m spending $300, I will have many items to sell and it will spread out the risk also the ROI is much higher. The risk involved with paying $300 for one item and selling it for $500-$700 is very high. But $300 for 30 $10 Items you sell for $25 each is $750 and you spread the risk out so thin that they would need to scam you on over half of them before you lost money, but $300 into one item and bam 1 scam, lose all $300. I do like the freight idea, very interesting.
Hey Steve thanks for the insight! I used to buy lots of items to resell at $25 each and other methods with a lower average sale price. What I found is that those items typically take longer to sell and also is much more work in terms of listing and shipping. I’ve found that purchasing fast selling items to make $300 an item has worked for me.
Possibly I can implement both strategies
@@TheResellingConsultant Yes, a mixture of both is good. I try not to be the stereotypical old eBay seller stuck in my ways, but I know I am to some extent. I like the fresh new approach you take and even though I’m uncomfortable selling large freight items, I’ve known for years it has great opportunities for those willing to do it, perhaps you’ll motivate me to leave my comfort zone and give some of those items a try.
First off, great content here I’m all for it. Recently I picked up a Jenn Air cooktop and have questions about freight shipping. This would be my first item that needs to be shipped freight. I would love to see the detailed process, as of now I’m still unsure how I would get this item out.
Hey Will! There’s a link in my description for a calendly meeting. Go ahead and book a time and I can walk you through the whole process.
@@TheResellingConsultant Not seeing your link here, lmk where else I can find you at :)
Shoot me an email!
TheResellingConsultant@gmail.com
Great vid and info!
i enjoy flipping on ebay
When you are planning driving and picking an Facebook Marketplace purchase item up, how far do you set your search parameters? I live about 100 miles from a bigger city or town, 45 miles to a town with 30,000 people and 20 miles to a town with 2000 people. I am interested to see how your freight shipping idea works out, sounds like a shipping broker and shipper/ driver all in one.
Hey there! I set it at about 45 miles. I do not mind the hour long drive or 2 hour long drive if I’m going to make $500-$600 on a flip.
That’s the plan, help us make a little bit of extra money while sourcing along the way
there's a thing you can do on ebay so you don't have to wait for payment. it keeps bots away.
How do you know what to look for on Facebook marketplace to flip?
Years of practice! I went over a few categories in this video but there’s so many more.
How much do you charge for a consultation call the link is down at the moment
Hey Ty! If you join my skool community “eBay to entrepreneur” I do them for free weekly. It’s $9/month.
If you want to make money fast for purchasing your first property using reselling. Get a cheap pick up truck and flip sofas. I know sounds crazy but that is how Ryan Pineda started (worth checking out). The first property should be a tax lien property, bank owned, short sale, HUD or buy it with a FHA loan. As the saying goes, 'the day you buy it is the day you sell it.' It's about getting the property at the cheapest price possible. Don't flip the property, it's too much work for not much return, also the taxes eat into your profit. Instead build a portfolio of properties, to keep and rent out, use the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat). See Bigger Pockets for info on this. Then focus your channel on property investing, Airbnb, ADU's instead of flipping.
Hey there, thanks for the advice! A truck is in the works and flipping couches might not be too bad.
My credit score is good enough for a 3% conventional that will be a live in renovation/house hack. The goal is to add value while living and renting it out to either heloc or if rates get better refinance into another one.
thanks for the advice i dumpster dive with a similar goal
@@TheResellingConsultant Nice, sounds like you are on your way. I fixed up properties in Oakland CA w my business partner using my own money for the renovation. Then we rented them out for a few years then sold them for a profit. It was a mistake. In hindsight we should have used the money to buy more properties NOT spend it on renovations. My advice is do a budget renovation, that looks good enough to get you a good refi loan. Renters cause damage and we had to redo that work before we sold them. We should have kept them. We made good money when we sold them but we had to pay a big chunk of capital gains tax on that profit. We could have done a 1031 Exchange and rolled the money over into a new property but that gets real complicated when you have a business partner. Finding the right house, all the fees, the paperwork, the time, all of this work only makes sense if you rent it out, Airbnb it, then leverage that property to get a loan for the next property. The key is to be a property investor, not a house flipper. Your time will be better spent learning how to find deals, use a local credit union or small regional bank, not any of the major banks, send in a crew to renovate, then look for the next property. I like your channel.
Shoot me an email, I’d love to pick your brain a little bit.
TheResellingConsultant@gmail.com