Anyone who knows me off the web knows that I sporadicly start new adventures all the time. I see something that looks fun or interesting and I just jump right in feet first. I’m not sure where this one started but, my newest venture is buying and selling, better known as flipping.
Like most things I do, there wasn’t much preplanning or researching I just woke up one morning and said this is what I’m doing now. My husband, supportive as he always is, kind of laughed then said, ‘go for it’. Making extra money is probably on everyone’s to-do list these days with the cost of living being absolutely ridiculous. My main objective with this new venture is to make some extra money, but also I wanted something that I could do and still have my son with me. I’m planning for this to work out since he can come with me shopping and I can squeeze in time for listing items while he’s playing or sleeping.
So, for my first month of flipping my goal was left pretty simple: sell 5 items.
I started by listing some of the things I already had stored up the closet. Then I went on the search for new inventory to sell.
The first place I started looking was Facebook Marketplace, LetGo, and OfferUp, but most things there are not priced to be resold. I’ve heard some people say that their areas have a lot of free or curbside items in great condition, but my area doesn’t do well in that category. If you are looking to start reselling that could be a great place to start looking for inventory though. After coming up empty handed in the local market places I starting looking for online auction sites. I found 3 local auction sites and 1 national site. My first score was what I considered to be a great deal. I paid $6.45 for a nice brand name telescope and made a quick sale a few days later for $20 cash. It may not seem like a lot, but I’m happy with my first flip.
To be honest, I was a little anxious about starting this venture for a few reasons. For one, I am known to be a hoarder or packrat. It’s sometimes hard for me to get rid of things including trash recyclables. It’s been so bad that I have held on to ripped up old tattered clothes in a bag in the closest for years. I think I’m a lot better with this now though since we have had a kid and kids require a lot of stuff themselves. To combat this problem I have started slow and only bought a few items so get me started. Now once an item sells I allow myself to go buy more.
The second reason for my hesitation was worry that it wouldn’t sell and I would be left with things I didn’t want or need. So to calm my worry the first items I bought were things that I could use incase they never sold. This doesn’t help concerning problem number 1, but I had to get my feet wet some how. My first 3 purchases were a telescope, a sewing machine, and a typewriter. All things I could be happy with if nothing went any further, despite my packrat problem.
My second flip was absolutely incredible. The $5 typewriter that I landed sold a week later for $110! Score!
For the month of January, my first month, I ended up selling 4 things, 1 shy of my goal, and making a profit of $144.67. I’m super excited about going forward with this as it’s actually giving me some ‘me’ time, which all you mommies know is necessary, and I’m making a few extra bucks cash. Now I’m looking forward to what the next month’s turn out will be.