I went to an estate sale over a month ago and picked up some items. I have planned on selling them, and listed them to add to the inventory to flip. The amount of the purchases total was $14.63 and adds five more items onto my inventory. As I’ve thought about it more I am going to show this as an overinvested amount moving forward as the profit cycles through I will continue to keep a running total until the profit has paid for the inventory. I thought about putting an amount into buying items each week which would make the inventory grow much faster than what I am going to do, because it would be a small investment on top of the initial amount. If this was done then the investment amount would be larger than the profit amount for a while, possibly a year. In this changejarflip adventure though I want it to be a smaller amount which eventually takes me to a large inventory amount which will throw off a decent profit on a monthly and yearly basis.
The five items I picked up range in cost from $2.17 to $4.33. These are all good quality items and right in the same price zone of the majority of everything which has been purchased before.
If one of the items sell I have it could get close to taking the overinvested amount I have and putting the inventory to being fully paid for itself. It could also take 3 to 5 sales to make this happen depending on which items sale. Either way I am closer to the number of 30 items to be close to selling 1 item a month, which will get the flow happening well for the inventory. I am currently at 25 items in the inventory. The probability of a sale a month is right around where I need to be to sale one item a month.
Current Inventory
Item | Cost | Date Purchased | Sold | Profit |
Ireland Puzzle | $3.45 | 6/27/22 | ||
NFL Puzzle | $2.37 | 6/27/22 | ||
Globe Puzzle | $.60 | 6/29/22 | ||
Animal puzzle #1 | $1.18 | 6/29/22 | ||
Animal puzzle #2 | $1.18 | 6/29/22 | ||
Music Album puzzle | $1.18 | 6/29/22 | ||
Iowa Puzzle | $1.18 | 6/29/22 | ||
3 Hole Punch | $1.18 | 6/29/22 | ||
Silver Plated Vase | $4.64 | 7/20/22 | ||
Serving Dish and Bowl | $9.29 | 7/20/22 | ||
*Antique building Puzzle- | $4.64 | 7/25/22 | ||
*Star Wars Puzzle | $2.37 | 7/25/22 | ||
*2 Hot Wheels | $2.10 | 8/3/22 | ||
Star Wars Puzzle | $1.18 | 8/31/22 | ||
Animal Puzzle | $1.18 | 8/31/22 | ||
Animal Puzzle | $1.18 | 8/31/22 | ||
*2 Coca Cola Puzzles | $6.91 | 9/13/22 | ||
*Christmas Coffee Cup | $1.18 | 9/13/22 | ||
Stapler and Stapler remover | $.54 | 9/26/22 | ||
Floral Plate | $2.71 | 9/26/22 | ||
Old Spice Cologne bottle | $3.25 | 9/26/22 | ||
Wood block set- kid’s toy | $2.17 | 9/26/22 | ||
Japanese Stein 1 | $3.25 | 9/26/22 | ||
Japanese Stein 2 | $4.33 | 9/26/22 | ||
*One, two, three infinity | $1.07 | 10/19/22 | ||
Overinvested | $17.92 | |||
Total inventory amount | $63.22 |