Small Craigslist Hustle.
Colin Street GOON!
Ease: Simple
Skills Need: Negotiating
Amount of Start up: Varies
One of my favorite hustles is to flip items on Craigslist and Ebay. What I did was I signed up for an invite to Google Voice way back when it was called Grand Central. For those of you who don’t know Grand Central is a really cool service that gives you a completely different phone number that is linked to your actual cell number. When someone calls your Grand Central number is automatically redirects the call to your phone without having to give out your phone number. This will come in handy later.
Let me explain to you what craigslist is. Craigslist is a community type of message board where people in your area can post up a variety of different things. You can find collectibles, jobs, clothing, to even love on craigslist (just to name a few). Another usefully site for this hustle is Ebay. This is where you will post your treasure and exchange them for cash. The downside to Ebay is the fees associated with using the site, but the good side is you will almost always get closer to retail price on the item your selling.
For our purposes we will be using the electronics or cell phones section of craigslist. What I like to do is make a generic email/ text and contact anyone who is selling a popular phone, I ask them how much there selling the item for and the condition. You leave them your Grand Central number in case you don’t want to give out your real phone number ( you can easily disconnect at a later time). At the same time you cross reference how much that same item is going for on ebay. You search until you find a person willing to sell a phone for a decent price that will leave you with a nice profit margin. After you purchase the phone from the person on craiglist, you list it on ebay (or if you got it for a really good price list it back on craiglist ). Then just wait for the flip to occur.
The profit margins on this type of flip highly depend on your negotiating skills. The better the price you get it for the more money you make. What I found is when dealing with Craigslist 80% of the people selling something are desperate for cash. This leaves room for getting great prices on some normally expensive stuff. Also, if you do your research on fixing broken screen you can make a lot of money buying people broken macs, iphone, laptops, and blackberries. Typically the average profit I made when doing this hustle was about 50% – 60% of what I spent. For example, I bought an Iphone from someone on craiglist for $140 (8gb 3G). Then I did some research on how to unlock it to other carriers (another story) and when i sold it I managed to get $240 for it. Since the iphone is so popular the turn around time was only 1 and 1/2 days.. So lets do the math:
sold for $240
brought for $140
leaving me with a profit of $100.
You may not think $100 profit is a lot but imagine if you do 3 – 4 of these a week. That’s $400 dollars extra money you can pocket per week. Besides lets take a look at the work associated with this hustle..... NONE
Happy Hustling
Ease: Simple
Skills Need: Negotiating
Amount of Start up: Varies
One of my favorite hustles is to flip items on Craigslist and Ebay. What I did was I signed up for an invite to Google Voice way back when it was called Grand Central. For those of you who don’t know Grand Central is a really cool service that gives you a completely different phone number that is linked to your actual cell number. When someone calls your Grand Central number is automatically redirects the call to your phone without having to give out your phone number. This will come in handy later.
Let me explain to you what craigslist is. Craigslist is a community type of message board where people in your area can post up a variety of different things. You can find collectibles, jobs, clothing, to even love on craigslist (just to name a few). Another usefully site for this hustle is Ebay. This is where you will post your treasure and exchange them for cash. The downside to Ebay is the fees associated with using the site, but the good side is you will almost always get closer to retail price on the item your selling.
For our purposes we will be using the electronics or cell phones section of craigslist. What I like to do is make a generic email/ text and contact anyone who is selling a popular phone, I ask them how much there selling the item for and the condition. You leave them your Grand Central number in case you don’t want to give out your real phone number ( you can easily disconnect at a later time). At the same time you cross reference how much that same item is going for on ebay. You search until you find a person willing to sell a phone for a decent price that will leave you with a nice profit margin. After you purchase the phone from the person on craiglist, you list it on ebay (or if you got it for a really good price list it back on craiglist ). Then just wait for the flip to occur.
The profit margins on this type of flip highly depend on your negotiating skills. The better the price you get it for the more money you make. What I found is when dealing with Craigslist 80% of the people selling something are desperate for cash. This leaves room for getting great prices on some normally expensive stuff. Also, if you do your research on fixing broken screen you can make a lot of money buying people broken macs, iphone, laptops, and blackberries. Typically the average profit I made when doing this hustle was about 50% – 60% of what I spent. For example, I bought an Iphone from someone on craiglist for $140 (8gb 3G). Then I did some research on how to unlock it to other carriers (another story) and when i sold it I managed to get $240 for it. Since the iphone is so popular the turn around time was only 1 and 1/2 days.. So lets do the math:
sold for $240
brought for $140
leaving me with a profit of $100.
You may not think $100 profit is a lot but imagine if you do 3 – 4 of these a week. That’s $400 dollars extra money you can pocket per week. Besides lets take a look at the work associated with this hustle..... NONE
Happy Hustling
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