How to start flipping for profit
How to start flipping for profit is a great way to create another source of income. You buy an item for below the market value and then sell it for a profit. Below are 5 places/items that are easy to find and resell.
Selling items that you have sourced can be as flexible as you like. You may enjoy Saturday mornings checking out garage sales or like to search through your local thrift shop. Your knowledge may help you find items that can be bought cheaply, that others think are of no value or use anymore.
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Thrift shop items –
There are many items you can find in thrift stores that you can start flipping for profit. Vintage clothes and shoes, kids clothing, old games and DVDs. Clothing can be bought very cheaply, my local thrift shops have days where you pay $5 per bag of goods. You can get many items of clothing into these bags, which then can be sold individually for a good profit. The same goes for kids clothing, when searching the thrift stores look for recognized designer brand names. Old games and DVDs can be easy to flip, if you have a favorite game that you know very well or DVDs of popular films, you can become a go to for that particular game or genre of films.Most items from the thrift store should be able to return a profit of 100% or more.
Garage sales items –
Maybe you like to rummage through garage sales of a weekend. These are sources of many things that can be flipped. Once again clothes are often offered for sale through garage sales, always look for designer labels, these are easier to flip and can bring in a better price. Antiques maybe be unearth in garage sales, and can be a real bonus find if you know what to look for. Tools are usually sold at garages sales and are always popular to clean up and resell for profit. Furniture is another item often found at garage sales and can be easy to clean and flipped for profit.
Wooden furniture –
Wood furniture is a good way to start flipping for profit, a piece may need a small repair or fix up and then sold for a decent price. Sometimes wooden furniture will be of great value, but the seller may not realise the true value or just wants to get it out of their way. You may specialise in a certain period of furniture or style and be able to recognise prize items to buy and flip. Wooden furniture can be found at thrift stores, garage sales or even social media these days.
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Car parts –
and motorcycle parts are great for flipping for profit. I have bought vehicles as a project and ended up selling them off as parts. This has made me a decent profit instead of costing many dollars to fix up. To flip parts you can either buy parts cheaply at swap meets or whole cars and strip them down. To strip a car or bike you’ll require a bit of space that you can work and store items. The other issue with parts is the size of some of them.
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Musical instruments –
If you are musical, instruments may be the niche for you to flip. With the amount of musical instruments available you can specialize in a certain type, eg violins, or guitars or drums etc, or specialize in a brand of instrument. With many different models of different musical instrument you can become an expert on that particular musical instrument or brand of instrument.
These are only a few of the many things that you can start flipping for profit. You may like to flip real estate, but this can be both very profitable but maybe costly if you are not proficient at managing time and money.
What’s your favourite thing to flip, do you have any suggestions for people or examples of your best flips, let me know.