Does anybody have experience flipping goods?

Polymathic

Polymathic

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I see all over social media and Youtube of people making serious cash flipping second hand goods but these people are all in the States. Is there anybody here doing something similar or have done something similar and made a profit?
 
Polymathic said:
I see all over social media and Youtube of people making serious cash flipping second hand goods but these people are all in the States. Is there anybody here doing something similar or have done something similar and made a profit?
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The like of BidOrBuy and Ebay are platforms for that already. Pawn shops too.

Open up a pawn shop.
 
Seems like nobody here has flipped items for profit. Was hoping to get some insight
 
Gumtree is your best bet, I know many people flipping cars, buying working or unworking, adding a little TLC and selling for profit. Works well with tech products as well such as second hand laptops and cellphones.

Another option is finding people clearing household goods due to moving etc or any urgent sales where you can bargain for the price.
 
Polymathic said:
Seems like nobody here has flipped items for profit. Was hoping to get some insight
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if you get eBucks you could find an item on special at a 40% discounted partner and sell it at a discounted price and still make a small profit. You would need to buy/sell in demand items. Maybe Samsung cellphones or something similar.

I haven't done this, just an idea.
 
i think you would most definitely need cash. To acquire items. at lower rates. ie: Shove cash in their faces and they should bite then sell at a normal rate or little higher as to still be an attractive deal ?
 
Polymathic said:
Seems like nobody here has flipped items for profit. Was hoping to get some insight
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I sell many personal items on olx/gumtree sometimes at 1/10th of the original cost I paid for. I think this type of selling for profit is probably viable if somehow you can encourage people to give things to you for mahala.
 
I've flipped stuff for profit several times but that was selling appliances several years later after using them. Only reason I sold them for profit was due to the exchange rate going down so much the price for the same model of the appliance literally doubled from when I bought the item.
 
You need to be dedicated to trawling through thousands of ads on multiple online platforms as well as second hand good shops in order to find deals.

Or you can be like a lot of people who work for corporates in IT, etc who sell the excess or replaced hardware. Not judging.

Just my experience.
 
There's an auction group in on Facebook for my area.

Every now and then, I buy stuff on there and the marketplace simply because I know the product and know that it's selling for a good price.
90% of the time, I end up realizing I will never need it and sell for a profit.

I don't specifically do it to make a profit but have ended up with R1000 or more after buying and selling quite a few times.
 
You live in the wrong country to flip goods like they do on youtube.

If you live in the USA you can dedicate yourself by going to 1000s of stores and digging through their trash for thrown out fully functional boxed and sealed electronics and flip it.

Good luck trying that in SA with our handful of stores scattered all around nevermind I have never seen an SA store throw out fully functional electronics.
 
You need to be somewhat of an expert in a particular group of items or collectibles to find the bargains. I wouldn't go into it randomly.
 
Gaz{M} said:
You need to be somewhat of an expert in a particular group of items or collectibles to find the bargains. I wouldn't go into it randomly.
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^ this

You need to dedicate a lot of time to it daily. There are lots of sharks out there doing the same thing, so you need to see the ads quickly and act quickly.

Gumtree, OLX, Facebook marketplace.

Not worth the time for me. Buying and selling cars seems quite lucrative though.

I got a French dresser for my kitchen for 600, which I've now sanded and painted and is worth 2000 now. But also bear in mind that people who do not know the value of furniture items often live in dodgy areas. And dealing on gumtree etc. also carries certain risks.
 
It can be done. I've flipped a few items.

Couple of points:

You've got to stay glued to gumtree and act quick when you see a bargain. There are plenty of people trying to find bargains too. It's kind of a full time job, but has the advantage of being a job you can create for yourself.

You've got to flip things quick to make money, unless you have deep pockets and a lot of storage space. You will often get a better selling price if you bide your time, but unless you've got a decent bankroll and some where to keep the item, it makes more sense to sell for a smaller profit.

Don't forget to keep things like transport costs in mind when thinking of your selling price. How much petrol did you use if you picked up an item from the other side of town.
 
Nick333 said:
It can be done. I've flipped a few items.

Couple of points:

You've got to stay glued to gumtree and act quick when you see a bargain. There are plenty of people trying to find bargains too. It's kind of a full time job, but has the advantage of being a job you can create for yourself.

You've got to flip things quick to make money, unless you have deep pockets and a lot of storage space. You will often get a better selling price if you bide your time, but unless you've got a decent bankroll and some where to keep the item, it makes more sense to sell for a smaller profit.

Don't forget to keep things like transport costs in mind when thinking of your selling price. How much petrol did you use if you picked up an item from the other side of town.
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Couldnt agree more on this. I have bought super bargains on olx and gumtree for myself personally brand new espresso machine retail R15k for R5k, but took 1 month of searching twice a day for example.
 
Snyper564 said:
Couldnt agree more on this. I have bought super bargains on olx and gumtree for myself personally brand new espresso machine retail R15k for R5k, but took 1 month of searching twice a day for example.
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Another thing is that bargain seller often don't know the real value of what they're selling. When they get flooded with offers within minutes they tend to cotton on, so you want to seal the deal before they do.
 
No but the great @saturnz bought two properties with his earnings from flipping goods.

https://mybroadband.co.za/forum/threads/how-to-earn-an-income-on-line.835887/
I used to do a lot of wheeling and dealing on the internet (gumtree and forums) before I started working, when I started working I continued doing it as a second income and then when I stopped working I stopped everything basically.

I also entered lots of competitions, I would spend 20 minutes a day entering competitions.
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yeah dude, I now own two properties and debt free and financially stable

real stupid

tell us how well you've done?
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Polymathic said:
Seems like nobody here has flipped items for profit. Was hoping to get some insight
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Best bet is to ask on the bidorbuy forums. There are guys there making a living out of it.
 
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