I found four items at Goodwill where I have found most of the items in my inventory. I ended up buying more than I had to reinvest because the items I found were likely to sell very fast and at a very good return on the amount of money I spent.
The first item is another big potential winner. It is an external hard drive and I paid $5.94 for it, and it is new, still in the sealed box. New hard drives like this one are selling for over $100 online currently. When this one item sells it will be my biggest profit maker since I started flipping my change jar money. This single item could make me more than double the amount I started with when it sells. Again this shows the power of flipping small amounts into something larger
The next items purchased were all computer mice. These are all potential doubling of my money on them. They also have the potential to sell very quickly, which is the best case when buying an item, in my estimation. Two cost $8.11 each and one cost $10.27.
These four items cost me a total of $32.43 and currently the potential profit amount is over $110. This is right in the zone of where I want to be to keep the profit amount growing in my journey to build up the amount, I started with in my change jar. I am overinvested by $15.39 currently and will wait till enough items sell to get me back to underinvested again to buy more inventory.
When I am able to buy very profitable items with a high potential to sell quickly, I will likely not limit myself in the future if it puts me slightly overinvested. Being slightly overinvested as an amount will increase over time as the inventory amount gets larger and larger. For example, if my inventory was $10,000, I would not hesitate to put an additional $1,000 into an item I am going to flip if it would be a good profit amount. The reason is because at 10% of my total inventory to be overinvested this would still be a reasonable amount to have to fund moving forward. Also, by the time I have hit $10,000 in inventory I will have taken some money out to pay myself back for having turned my $36.38 into such a large amount.
Current Inventory
Item | Cost | Date Purchased | Sold | Profit |
Ireland Puzzle | $3.45 | 6/27/22 | ||
NFL Puzzle | $2.37 | 6/27/22 | ||
Animal puzzle #1 | $1.18 | 6/29/22 | ||
Animal puzzle #2 | $1.18 | 6/29/22 | ||
Iowa Puzzle | $1.18 | 6/29/22 | ||
3 Hole Punch | $1.18 | 6/29/22 | ||
Serving Dish and Bowl | $9.29 | 7/20/22 | ||
*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 | ||
*Satellite Puzzle | $2.37 | 11/28/22 | ||
*Snowglobe | $3.45 | 11/30/22 | ||
*Tealight | $2.37 | 11/30/22 | ||
*Board Game | $3.78 | 1/4/23 | ||
*Music Equipment | $43.30 | 1/4/23 | ||
*Painter’s puzzle | $3.78 | 1/30/23 | ||
*Roblox characters | $5.94 | 1/30/23 | ||
*New Hard Drive | $5.94 | 2/9/23 | ||
*Logictech Wireless Mouse 1 | $8.11 | 2/9/23 | ||
*Logitech Ergonomic Mouse 1 | $10.27 | 2/9/23 | ||
*Microsoft Ergonomic Mouse 2 | $8.11 | 2/9/23 | ||
Overinvested | $15.39 | |||
Total inventory amount | $150.63 |