Finding your side hustle can be super easy, you just need the internet. There are 1000 phone and computer applications out there that allow you to make money. The start is to find your side hustle. I have a few side hustles but the one I enjoy the most is flipping things on offerup.com. Now there are 100 apps out there like FaceBook, Mercari, CraigsList, Offer Up, Let Go, Ebay, etc.
You just need one!
I know so many people out there that by things they don’t need, use them for a year and then throw them away or even give them away.
But you can make money from these things… even if they are used…
Step One: Make a pile of the things you don’t use anymore.
Step Two: Decide their value or research what they sell for somewhere else. Hint: google.com
Step Three: Take a picture of the item in good lighting
Step Four: Post the item with a good description
Step Five: Make a safe and profitable flip
Here is my personal flipping equation…
this is how I decide if the product I bought was worth the value after I have flipped it.
Product A was about at $50 which MSRP sells for $69.00.
I put them on OfferUp for $35 hoping to aim high because I know Ill get lowball offers. If it is a good product then you can get away with going 50-60% off MSRP.
Now say I bought this product an entire year ago or for the sake of this equation, 11 months ago.
I sell the item for $30 after negotiation. I’ll take my buy price and subtract my selling price. $50-$30=$20
$20 is what I call the rent price. This was my price to wear or use this product for 11 months.
It cost you $1.82 per month to wear or use this item. Now factor in a true depreciation factor of 10% per month and you’ll notice, you came out in the GREEN!
AYE! That’s profit, my friend. I am not saying you are buying things and reselling them at a higher price, in which I have done before, but a true use and resell product idea.
Selling things on applications will take time and energy but sometimes I have a good lot and make $1,000 in a month or so.
I personally have a unique circumstance because I have acquired a lot of strange items over the years in the Navy and afterward working in retail and getting items for a huge discount.
A lot of these items, either I got for free or purchased for next to nothing.
So the question is… do you have a bunch of things you don’t use in your garage?
You can apply this concept to anything. For example, I have a Jeep Wrangler which typically hold their value and people love Jeep parts. So I recently put on some new fender flares (things covering your tires). I purchase these new fender flares for $300. I’ll take my old used fender flares and throw them up on offerup.com for $100. Simply take your new purchase cost and subtract your sale price and TA-DA! I technically paid $200 for these new fender flares!
We have become a materialistic world. We love to have things until they become old and outdated. Use your things and then flip them! There are plenty of tools out there to help you make money!
I know I sound like Gary V’s trash talk series but his series motivated me to write this although I have been doing this for years now. Flipping things can be easy and lead to more cash in your pocket.
Watch the first episode here: https://youtu.be/Yyg1G97_Zl0
It’s super motivating to see that you can purchase people’s junk and resell it for sometimes 1000% mark-up. #muglife
So, if you are in the need of some extra weekender cash or vacation savings, try listing some things on these applications and make some money!
If you liked this post, check out my blog on Living Your Best Life.