Turning Deals Into Cash

A guy I know, he’s what my mother would call a mover and a shaker, was talking about opportunity. He was going on about how people lack drive, that everyone wants to be rich, but no one wants to work for it. He’s also a big advocate for thinking out of the box. He makes the majority of his income buying Halloween decorations in the summer and selling them in the fall. My friend travels all over the country looking for new things that people might like. He works very hard and does very well.

The other day he was talking about finding things cheap on the internet and then reselling them for a profit. I have thought about doing this several times. I will often find deals for things that I like, but don’t need or cant use. From time to time I will find a deal for an item that is so good that I have considered buying 10 or 20 of that item and selling them. In theory this sounds easy enough but the two big questions are where do you find the things you plan to sell and where do you sell them. First the where:

  • btrBeyondtheRack – I love this site, I visit it almost daily. They have a constant stream of great deals at amazing price. It very easy to find products that are 60-70% below retail. It is a great resource. 
  • nomoreracknomorerack.com – Another great site, I highly recommend it. The offerings are immense and can take some time to search through it all, but if you are diligent you can find some great deals, like 90% off good.

I am sure you can find others, but these two sites are a great place to find marked down items to sell. Now the question of where? If you live near a flea market I think that would be the most ideal place. You can rent a table and display your items. If you have chosen well and the place has good traffic it should be very easy to move your merchandise.  For many of you this might not be possible. Fortunately we all have Ebay. You can list your items there and if you have found a desirable and unique product you should move them with very little trouble. 

A few things to consider. 

  • Sale price. I can almost guarantee that anything you can buy is being sold on Ebay. What is this item going for? If it cost $50 and you find it for $25 but someone else is selling it for $22 you are out of luck.
  • Margin – How much will you make on the item? Going back to our last example if something is selling for $50 and you get it for $25 and is selling on Ebay for $27 is it worth it? Is it worth your time to list and ship these items only to make 2 bucks?
  • Fees – Remember, that Ebay and Paypal take fees, what are you netting when the deal is done? I would argue that you need to make at least 5 bucks per item, but that’s just me.

So there you are. You now have the resources to turn some great deals into potential sales. I can’t promise you success, but if you put in the time and effort you might be able to come out with a little money in your pocket.

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